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Wednesday, December 1

  1. page CH 11 Brand edited ... Hardeep Kang clayton schroeder Rachel( goingunkown) ch 11-clayton A brand is a name, te…
    ...
    Hardeep Kang
    clayton schroeder
    Rachel( goingunkown)
    ch 11-clayton
    A brand is a name, term, sign, symbol, design, or some combination that identifies the products of a firm.
    ...
    Consumer Innovators- People who purchase new products as soon as it hits the market.
    Diffusion Process- Process in which new goods or services are accepted in the marketplace.
    Rachel
    Market penetration strategy
    Increases sales of existing products
    Modify products
    Promote in new ways
    Different packaging
    Product positioning
    refers to consumers perceptions of products attributes, uses, qualities and advantages
    Draw info from [public then act accordingly
    Market development
    Concentrate on finding new markets for existing products
    Product development
    Introducing new products in to identifiable or established markets
    Ex IPod 4 G
    Product diversification strategy
    Developing entirely new products for new markets
    Adoption process
    Stages I go through in learning about new products & deciding to buy
    Awareness, interest evaluation, trial, adoption/rejections
    Consumer innovators
    People who purchase new products almost as soon as the products reach the market
    Diffusion process
    Process by which new goods or services are accepted in the market place.
    Rate of Adoption Determinants
    Relative advantage
    Compatibility
    Complexity
    Possibility of trial use
    Observable
    Product manager
    Product team
    Steps in the product development process
    Idea Generation
    Screening
    Business analysis
    Development
    Test marketing
    Commercialization

    (view changes)
    12:29 pm

Monday, November 29

  1. page CH 14 IMC edited ... click-throughs conversion rates Chapter 14 Promotion – Communications link between buyer …
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    click-throughs
    conversion rates
    Chapter 14
    Promotion – Communications link between buyer & seller. Function of informing, persuading and influencing a consumer’s purchase decision
    Marketing Communication – Messages that deal with buyer-seller relationships
    Integrated Marketing Communication (IMC) – Coordination of all promotional activities to produce a unified, customer focused promotional message
    AIDA Concept – Steps through which an individual reaches a purchase decision: Attention, Interest, Desire & Action
    Promotional Mix – Subset of the marketing mix in which marketers attempt to achieve the optimal blending of the elements of personal and non-personal selling to achieve promotional objectives.
    Sales Promotion – Marketing activities other than personal selling, advertising, guerilla marketing and public relations that stimulate consumer purchasing and dealer effectiveness
    Public Relations – Firms’ communications and relationships with its various publics
    Guerilla Marketing – Unconventional innovative and low-cost marketing techniques designed to get consumers attention in unusual ways.
    Sponsorship – Relationship in which on organization provides funds or in-kind resources to an event or activity in exchange for a direct association with that event or activity
    Pulling Strategy – Promotional effort by the seller to stimulate final user demand, which then exerts pressure on the distribution channel
    Pushing Strategy – Promotional effort by the seller directed to members of the marketing channel rather than final users

    (view changes)
    9:32 pm
  2. page CH 16 Personal Selling and Sales edited ... Trade Promotion – Sales promotion that appeals to marketing intermediaries rather than consume…
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    Trade Promotion – Sales promotion that appeals to marketing intermediaries rather than consumers
    Point-Of-Purchase (POP) Advertising – Display or other promotion located near the site of the actual buying decision.
    Chapter 16
    -Personal selling: interpersonal influence process involving a seller’s promotional presentation conducted on a person to person basis with the buyer.
    Over-the-counter selling-Personal-Personal selling conducted in retail and some wholesale locations in which customers come to the seller’s place of business.
    Field selling: Sales presentations made at prospective customers locations on a face-to-face basis.
    Telemarketing: Promotional presentation involving the use of the telephone on an outbound basis by salespeople or an inbound basis by customers who initiate calls to obtain information and place orders
    Inside selling: Selling by phone, mail and electronic commerce
    Relationship selling: Regular contracts between sales representatives and customers over an extended period to establish a sustained seller0-buyer relationship.
    Consultative selling: Meeting customer needs by listening to customers, understanding their problems, paying attention to details, and following through after the sale
    Team selling: Selling situation in which several sales associates or other members of the organization are recruited to assist the lead sales representative in reaching all those who influence the purchase decision
    Order Processing: Selling, mostly at the wholesale and retail levels, that involves identifying customer needs, pointing them out to customers and competing orders.
    Creative selling: Personal selling that involves situations in which a considerable degree of analytical decision marking on the buyer’s part results in the need for skillful proposals of solutions for the customer’s needs.
    Missionary selling: Indirect type of selling in which specialized salespeople promote the firm’s goodwill among indirect customers, often by assisting customers in product use.
    Sales Promotion: Marketing activities other than personal selling, advertising, and publicity that enhance consumer purchasing and dealer effectiveness.
    Specialty advertising: technique that places the advertiser’s name, address, and ad message on useful articles that are distributed to target customers
    Trade promotion: Sales promotion that appeals to marketing intermediaries rather than to customers
    Point of purchase: Display or other promotion located near the site of the actual buying decision

    (view changes)
    9:30 pm
  3. page CH 15 Advertising and PR edited kandi Lo Katie Lee Harpreet by harpreet kesh Advertising any paid , non personal Adverti…
    kandi Lo
    Katie Lee
    Harpreet
    by harpreet
    kesh
    Advertising any paid , non personal
    Advertising: paid, non-personal
    communication whichthrough various media about a business firm, not-for profit organization, product, or idea by a sponsor identified in a message that is intended to inform or persuade members of audiencea particular audience.
    - Two broad categories of advertising:
    o Product advertising
    o Institutional advertising
    Product advertising: non-personal selling of a particular good
    or specific target market.
    Types
    Product
    service
    Institutional advertising: promotes a concept, an idea, a philosophy, or goodwill of a industry, company, or government agency
    - Objective of Advertising: to inform, to persuade,
    and institutional.
    Objectives
    Informative advertising -promotion that seeks
    to remind
    o Informative advertising (to inform)
    o Persuasive advertising (to persuade)
    o Reminder advertising (to remind)
    Informative advertising:
    develop initial demand for goods , services,a good, service, organization, person, place idea.
    Persuasive advertising- promotion that attempt to
    or cause.
    Persuasive advertising:
    increase demand
    ...
    existing good, services , organization, person, place idea.
    Reminder advertising- which remind you
    service, organization
    Reminder advertising: reinforce
    previous promotional
    ...
    name of a existing good, services , organization,service, person, place idea.
    Strategies
    Comparative – this
    or cause before the public.
    Advertising Strategy
    - Types of advertising strategies:
    o Comparative advertising
    o Celebrity testimonials
    o Retail advertising
    o Cooperative advertising
    o Interactive advertising
    Comparative Advertising: advertising strategy that
    emphasizes messages
    ...
    brands.
    Retail Advertising: all advertising which is done by retailing stores.
    Interactive – two way
    retail stores that sell goods or services directly to the consuming public.
    Cooperative advertising: strategy in which a retailer shares advertising costs with a manufacturer or wholesaler.
    Interactive advertising: two-way
    promotional massagesmessages transmitted through communication channelchannels that induce message receiptsrecipients to participate activityactively in the promotional efforts.effort.
    Creating an Advertisement & Advertising Messages
    Advertising campaign: series of different but related ads that use a single theme and appear in different media within a specified time period.
    - Advertising appeals
    o Fear appeals
    o Humor in advertising messages
    o Ads based on sex
    - Developing and preparing ads
    o Should gain attention and interest
    o Should inform and/or persuade
    o Should eventually lead to a purchase or other desired action
    - Four major elements in an ad
    o Headline and illustrations (photograph, drawings, or other artwork) generates interest and attention
    o Body copy informs, persuades, and stimulates buying action
    o Signature may include the company name, address, phone number, web address, slogan, trademark, or a product photo, names the sponsoring organization
    Banners: advertisements on a web page that link to ad advertiser's site.
    Media Selection
    - Television
    - Radio
    - Newspapers
    - Magazine
    - Direct Mail
    - Outdoor Advertising
    - Interactive Media
    Media Scheduling
    Media scheduling: setting the timing and sequence for a series of advertisements.
    - Important variables in media scheduling
    o Seasonal sales patterns
    o Repurchase cycles
    o Reach
    o Frequency
    o Gross rating point (GRP = frequent X reach)
    Organization of the Advertising Function
    Advertising agency: firm whose marketing specialist assists advertisers in planning and preparing advertisements.
    Public Relations
    - Marketing and non-marketing public relations
    - Publicity
    Publicity: non-personal stimulation of demand for a good service, place, idea, person, or organization by unpaid placement of significant news regarding the product in a print of broadcast medium.
    Non-marketing public relations: promotion that includes advertising, sales promotion, direct marketing, guerrilla marketing, and public relations –all conducted without being face to face with the buyer.
    Marketing Public Relations (MPR): narrowly focused public relations activities that directly support marketing goals.
    Cross Promotion
    Cross promotion: promotional technique in which marketing partner share the cost of a promotional campaign that meets their mutual needs.
    Measuring Promotional Effectiveness
    Media research: advertising research that assesses how well a particular medium delivers an advertiser’s message, where and when to place the advertisement, and the size of the audience.
    Message research: advertising research that tests consumer reactions to an advertisement’s creative message.
    - Measuring advertising effectiveness
    o Pretesting -blind product tests
    o Post-testing -unaided recall tests, inquiry tests
    Pretesting: Research that evaluates and ad during its development stage.
    Post-testing: Research that assesses advertising effectiveness after it has appeared in a print or broadcast medium.
    - Evaluating interactive media
    o Hits (user requests for a file)
    o Impressions (the number of times a viewer see the ad)
    o Click-throughs (when the user clicks the ad to get more information)
    o View-throughs
    Ethics in Non-personal selling
    Cookies: controversial techniques for collecting information about online website visitors in which small text files are automatically downloaded to a user’s computer to gather such data as length of visit and the site visited next.

    (view changes)
    9:12 pm
  4. page CH 14 IMC edited ... AIDA Concept – Steps through which an individual reaches a purchase decision: Attention, Inter…
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    AIDA Concept – Steps through which an individual reaches a purchase decision: Attention, Interest, Desire & Action
    Promotional Mix – Subset of the marketing mix in which marketers attempt to achieve the optimal blending of the elements of personal and non-personal selling to achieve promotional objectives.
    Non-personal selling
    Advertising
    Product placement
    Sales promotion
    Direct marketing
    Public relations & publicity
    Guerrilla marketing

    Sales Promotion – Marketing activities other than personal selling, advertising, guerilla marketing and public relations that stimulate consumer purchasing and dealer effectiveness
    Public Relations – Firms’ communications and relationships with it’s various publics
    ...
    Pulling Strategy – Promotional effort by the seller to stimulate final user demand, which then exerts pressure on the distribution channel
    Pushing Strategy – Promotional effort by the seller directed to members of the marketing channel rather than final users
    Objectives of Promotion
    provide information to consumers and others
    increase demand
    differentiate a product
    accentuate a product's value
    stabilize sales
    Measuring Effectiveness
    impact on sales revenues for each dollar of promotional spending
    recall
    readership
    consumer's perceptions of value in a product/brand/organization
    cost per impression (online ad)
    click-throughs
    conversion rates

    (view changes)
    9:11 pm
  5. page CH 13 Retailers and Wholesalers edited ... Wholesaler: takes title to goods it handles and distributes these goods to retailers, other di…
    ...
    Wholesaler: takes title to goods it handles and distributes these goods to retailers, other distributors or B2B customers.
    Wholesaling intermediaries: describes wholesales as well as agents and brokers.
    Retailing – activities involved in selling merchandise to ultimate consumers
    Wheel of Retailing – hypothesis that new retailer gains competitive foothold by offering lower prices, offered by reducing or eliminating a service
    1. New retail appears
    - Low level service
    - Low profit margins
    - Low prices for consumers
    2. Over time
    - Service levels increase
    - Profit margins increase
    - Prices increase
    3. More time
    - Service levels continue to increase
    - Profit continues to increase
    - Prices continue to increase
    Stock Keeping Unit (SKU) – identifies varying items within a product line, reference for retailers
    Markup – amount a retailer adds to the cost of a product to determine its selling price
    Markdown – amount by which retailer reduces original selling price of a product
    Planned shopping center – group of retail stores planned, coordinated and marketed as a unit
    Retail convergence – similar merchandise available from multiple retail outlets blurs distinction between retailers and merchandise offered
    Scrambled merchandising – practice of combining dissimilar product lines to boost sales volume
    Wholesaler – channel intermediary which takes title to goods and distributes goods to retailers, other distributers/wholesalers or B2B customers
    Brokers – agent wholesaling intermediary who does not take title to goods, but brings together buyers and sellers
    Manufacturers’ representative – agent wholesaling intermediary who represents manufacturers of related but non competing products and receives commission on all sales

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    9:10 pm
  6. page CH 10 Product Strategies edited Veronica Parihar Product: Physical/service/symbolic; satisfies customers need. Service: “Intangi…
    Veronica Parihar
    Product: Physical/service/symbolic; satisfies customers need.
    Service: “Intangible” tasks satisfy needs.
    · Can not hold service like goods.
    · Inseparable from providers.
    · Perishable.
    · Can’t easily be standardized.
    · Buyers play role in creation/distribution.
    · Show wide variation.
    · Services are on the rise.
    o Provides products/jobs for economy in Canada (70%).
    · Classified on convenience, shopping, and specialty.
    · 5 Questions that classify service:
    o What nature is the service?
    o What is the relationship status with the customer?
    o What is the flexibility and custom part of service provider?
    o Demand/supply.
    o How is it delivered?
    Goods: Tangible products (see, touch, hear, and taste…ECT.).
    Home shoring: Hiring contract workers who work from home.
    B2C Products: Consumer Products.
    B2B Products: Business Products.
    · For output use, resale to consumers.
    · Example: pharmaceutical companies sell medication to doctors who then sell to patients.
    Unsought Products: Products a buyer does not recognize as a need.
    · Such as insurance or funeral services.
    Impulse goods/services: Spur of the moment purchases.
    · Such as a car wash or gum purchase.
    Staples: Consumers constantly replenish inventory for these items.
    · Such as Gasoline.
    Emergency goods/services: Bought at unexpected needs that arise.
    · Umbrellas and visits to the pet hospital are examples.
    · Location makes a huge difference.
    Slotting allowance: Money that is paid by producers to companies.
    · This allows the product to have good display.
    Shopping Products: Consumers buy this product after comparing it to other products.
    · Homogenous: One product brand seems the same as others.
    · Heterogeneous: Products having different variations.
    Specialty Products: These are unique, expensive, and luxury items.
    · Buyer begins shopping with complete information.
    · The buyer will not accept substitutions.
    B2B Products fall into 6 Categories:
    1. Installations: Major investments for new factories, heavy machinery, and telecommunication systems.
    2. Accessory Equipment: These cost less and don’t last as long as installations.
    a. Prices affect decisions on purchase.
    3. Component Parts and Materials: These are finished products that become apart of final procedures.
    4. Raw materials: Farm products and natural resources that resemble component parts.
    5. Supplies: Regular expenses that firm incurs in daily operations.
    6. Business Services: Intangible products that allow business’ to run more smoothly.
    Product Mix: Product lines and offerings.
    · Measure this mix with width, length, and depth.
    · Width: Number of product lines that a firm offers.
    · Length: Number of products a firm sells.
    · Depth: Variations of each product.
    Product life cycle:
    · Introductory Stage: Start demand for new product.
    · Growth Stage: Early buyers purchase the product, resulting in a sales volume increase.
    · Maturity Stage: When the product reaches a plateau.
    · Decline Stage: When the product no longer produces sales.

    by Ruveen
    product= bundle of a physical thing, service, and symbolic attributes designed to satisfy a customers wants and needs. *satifying wants*
    (view changes)
    9:10 pm
  7. page CH 4 Consumer Behaviour edited ... · Routinized response behavior- Rapid consumer problem solving in which no new info is conside…
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    · Routinized response behavior- Rapid consumer problem solving in which no new info is considered; the consumer has already evaluative criteria and identified available options.
    · Limited problem solving- situation in which the consumer invests little amount of time and energy in searching for evaluation
    ...
    or evaluate.
    Consumer Behavior- The buyer behavior of individual consumers. This behavior influences marketing decisions.
    Interpersonal Determinants of Consumer Behavior- There are three influences in consumer behavior. Cultural, Social, and Family.
    High-Involvement Purchases- Purchases with high level of potential social or economic consequences.
    Low-Involvement Purchases- Routine purchases that pose little risk to the consumer.
    Consumer Decision Process- The consumer decision process involves six:
    1)problem or oppurtinity recognition
    2)search
    3)alternative evaluation
    4)purchase decision
    5)purchase act
    6)post-purchase evaluation
    Routinized Response Behavior- Repeat purchases made of the same brand or limited group of items.
    Limited Problem Solving- A consumer has a pre-set criteria for a purchase but then is exposed to a new product or model.
    Extended Problem Solving- When brands are difficult to categorize or evalutate.

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    9:09 pm
  8. page CH 13 Retailers and Wholesalers edited ... o Off Price Retailers o Hypermarkets and Supercenters Retail convergence: a situation in wh…
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    o Off Price Retailers
    o Hypermarkets and Supercenters
    Retail convergence: a situation in which similar merchandise is available from multiple retail outlets.
    Scrambled merchandising: combining dissimilar product lines to boost sales volume
    Wholesaler: takes title to goods it handles and distributes these goods to retailers, other distributors or B2B customers.
    Wholesaling intermediaries: describes wholesales as well as agents and brokers.

    (view changes)
    9:07 pm

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