1 / 11

BSAD 102 Business Decision Making

BSAD 102 Business Decision Making. St. Francis Xavier University. Marketing. Professor Neil Maltby. Agenda. Course fees Mike’s Bikes groups Introduction Concepts overview Video example. St. Francis Xavier University. Product Development.

zachariah-jayson
Download Presentation

BSAD 102 Business Decision Making

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. BSAD 102Business Decision Making St. Francis Xavier University Marketing Professor Neil Maltby

  2. Agenda • Course fees • Mike’s Bikes groups • Introduction • Concepts overview • Video example St. Francis Xavier University

  3. Product Development “Product development is the process of delighting your customers, by satisfying their needs, through the tangible reality of a product, better than your competitors” Peter Lawrence, Chairman Corporate Design Foundations

  4. Marketing • Marketing Concept • Customers have needs and wants; Firms satisfy this demand with products and services that meet or exceed expectations • Demand drives supply • Marketing Overview • Understand CustomersMarketing Strategy

  5. Marketing • Understanding Customers • Customers • Types • Consumers (468) • Geographic • Demographic • Psychographic (example: www.sric-bi.com) • Behavioural • Businesses, Government, Institutions,…(470, 490-1 • Behaviour • Purchase process (468) • Influences (471)

  6. Marketing and Segmentation • Segmentation enables marketers to divide markets into groups whose members have similar wants/needs and market behaviour – this enables marketers to design a customized strategy…

  7. Marketing and Strategy • Target Market and Positioning • Segment(s) the firm determines it can effectively serve • Definable, size, accessibility, wealth • Marketing Mix • Product (benefits, not attributes…) • Attributes, branding, packaging, labeling, support services • Product lines and product mix • Price • Cost-based, value-based, competition-based, skimming, penetration

  8. Marketing and Strategy (con’t) • Place (Distribution) • Distribution channels are a set of interdependent organizations involved in making a product available to consumers • Function to • Develop/provide information, promotion, physical distribution, financing • Functions use scarce resources, performed better through specialization, can be shifted between channel members • Promotion • Advertising • Personal Selling • Sales promotion (short-term incentives) • Public relations

  9. Marketing – video example • Welcome to the i-zone • Questions to consider? • In what ways does Polaroid demonstrate an understanding of its customers? • In what ways does Polaroid demonstrate strategy (e.g. Marketing Mix) in its efforts to satisfy its customers? • Discussion • www.polaroid.com

  10. Marketing Overview • Understand Customers  Marketing Strategy • Marketing Mix • Product Life Cycle

  11. Next class • Marketing Math questions • Notes section of course materials package • “Break even analysis, payout analysis and markup” • Course materials fee

More Related