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marketing 300

marketing 300. discussion section. Announcements?. A note on market research. Remember: It’s not just for researching consumers!. Company. Retailer. Consumer. quiz. Full-scale market tests: Are unrealistic because they do not test the whole marketing mix. Are not expensive.

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marketing 300

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  1. marketing 300 discussion section

  2. Announcements?

  3. A note on market research Remember: It’s not just for researching consumers! Company Retailer Consumer

  4. quiz Full-scale market tests: • Are unrealistic because they do not test the whole marketing mix. • Are not expensive. • Should always be skipped if management is sure that it understands consumer preferences. • May provide information to competitors. • Are used mostly for products that have high production costs and long lead times.

  5. quiz • Direct _____ involves personal sales contact between a representative of the company and an individual consumer. • marketing • selling • distribution • servicing • pricing

  6. discussion question • Cite two examples of product or services that you think are in each of the product life-cycle stages. Provide rationale for why you placed products in the stage you did.

  7. discussion question • What are the four stages of the product cycle? • Market introduction • Market growth • Market maturity • Market decline

  8. discussion question • Important to know: • Product life-cycles refer to categories not products. Why is this the case? • The PLC is a framework, and a continuum. There are no clear “black/white” divisions about what phase a category is in. • Why is the PLC useful for marketing managers?

  9. discussion question Market introduction • Most people don’t know about product • People who do have nothing to compare with • Need to tell people why they should want this product (creating primary demand) • Examples?

  10. discussion question From www.trikke.com

  11. Back2Life

  12. seriously? http://www.youtube.com/watch?v=E9_amg-Aos4

  13. oh please http://www.youtube.com/watch?v=XUuwEq98ByM

  14. discussion question Market growth • Innovator starts making sales • Competitors start trying to get a piece of the pie • Some competitors copy, some add variety • Examples?

  15. discussion question Hybrid vehicles

  16. discussion question Market maturity • Industry sales plateau • Lots of competitors • Profits drop • Market saturation • Consumer price sensitivity • Examples?

  17. discussion question Cell phones Photo by Chris Jordan, from Intolerable Beauty — Portraits of American Mass Consumption

  18. discussion question Sales decline • New products replace old ones • Competitors drop out of market • Examples?

  19. discussion question CRT Monitors

  20. discussion question cassette tapes

  21. discussion question typewriter

  22. discussion question Why does the product life cycle relate to categories, not products? And why is this important for a marketing manager to know?

  23. WHEN BRAND EXTENSIONS GO

  24. bizarre product extensions

  25. bizarre product extensions

  26. bizarre product extensions

  27. bizarre product extensions

  28. bizarre product extensions

  29. bizarre product extensions

  30. bizarre product extensions What is the problem with these products?

  31. product strategy Brand identity – What products come to mind when you think of the brand? Brand image – What feelings, thoughts, and symbols come to mind?

  32. Perfume

  33. Perfume

  34. Perfume motorcycles, renegades, outlaws, fear, menace, violence, leather, bar fights, beer

  35. Perfume What is the problem? Product doesn’t match brand identity or image; leveraging seemingly unrelated brand to sell product doesn’t work

  36. “Adult Food”

  37. “Adult Food”

  38. “Adult Food” gross, unappetizing, textureless paste, infancy, helplessness, spit-up food

  39. “Adult Food” What is the problem? Product linked to another product with contextually uncomfortable associations

  40. product strategy • Seeking untapped markets can be risky. • Always think about how your actions fit in with your product strategy before expanding your product line or reaching out to untapped markets.

  41. a cautionary example • A recommendation from a group last semester…

  42. a cautionary tale • “Because AXE Body Spray targets only young men, there is a huge untapped segment of older men who the brand can address.” young men older men

  43. a cautionary example • What’s the problem with this? • Think about brand identity and brand image

  44. Sweet!! AXE has got me covered. I’m gonna hit the clubs tonight!!

  45. Bro, some old guy’s using AXE Body Spray. That’s not cool, bro.

  46. the moral • Think carefully about what you’re doing! • How do your actions integrate with the brand’s strategy and “meaning”? • Just because you could conceivably make money doesn’t mean it’s a good idea • Think about costs as well as benefits

  47. Hand back papers • Work with your group

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