Principles of Marketing - Undergraduate Marketing Course - Demand, Pricing, BCG Matrix, SWOT, Break-Even, Promotions

Test slide 2

Vignesh — Thu, 27 May 2010 20:24:44 +0000

Attached are the slides for class 2

Final Exam

Vignesh — Wed, 26 Jul 2006 04:38:25 +0000

The final exam will be on Thursday 10 AM to 11:30 AM at SM 2.115
Format: 40 multiple choice questions + 2 short answer questions (10 points each) Total: 60 points

Please bring your scantron sheets (form 882E, you can buy them at the university bookstore) for answering multiple choice questions. I will provide white paper for answering the short answer questions.

Syllabus: 50% of the test content will be from post-midterm II topics, i.e. Channels, Promotions and Advertising. The remaining 50% will cover material included in midterms I and 2.

The best way to prepare for the exam is to review the 6 SATs on webCT and the two midterms. Also, go through the midterm reviews posted on the course website.

Here are some sample short answer questions that will help you prepare for the exam:

What are the two types of channel conflicts? What are the main sources of each type of channel conflict? Describe them with examples.
What are the components of the promotional mix? How can their relative importance change with the PLC?
What do you understand by ‘Push’ and ‘Pull’ strategies? Explain.
Each product will have a life cycle. Briefly explain each step in the product life cycle (PLC) and the marketing objective at each stage.
What is the basic difference between primary and secondary data? Which type of data should be used first, and what are the advantages and disadvantages of secondary data?
Discuss briefly 3 competition-oriented pricing strategies.

SAT 6 is now online

Vignesh — Thu, 20 Jul 2006 05:21:04 +0000

The final self assessment test covers topics in IMC, promotions and advertising

Class 17 Review: Advertising

Vignesh — Thu, 20 Jul 2006 04:42:18 +0000

Advertising – any paid form of non-personal presentation and promotional of ideas, goods, or services by an identified sponsor using mass media.

Types of Ads:

Based on what is advertised:

Product or Institutional Ads

Based on content:

Pioneering (or Informational) ads
Competitive (or Persuasive) ads
Comparative ads
Reminder ads
Reinforcement ads

which ads to use during stages in the PLC?

Steps is developing an advertising program:

Identifying target audience
Specifying advertising objectives
Setting advertising Budget.

Media Planning:
To Whom?

Demographics? Psychographics?
Where do their emotions lie (intangible benefits)?
What will “pull the trigger”?

Achieve What? (Objectives)

Awareness? Trial? Educate? Persuasion? Switching?

Say What (Content)?

What are we trying to convey? (Quality, Price, Place)

Which Channel?

TV? Radio? Magazine? Billboard? Internet?
Driven by target audiences, objectives and budgets.

Discussion Class

Vignesh — Thu, 13 Jul 2006 19:41:28 +0000

Did you find the class discussion today useful? What’s your opinion on the interview guide?
Post your comments!

SAT 5 is now online

Vignesh — Tue, 11 Jul 2006 17:58:59 +0000

covers topics in Channels and Retailing.

Class 16 Review: Promotions

Vignesh — Tue, 11 Jul 2006 17:28:21 +0000

Components of Promotional Mix:

Advertising
Personal Selling
Public Relations
Sales Promotions
Direct Selling

(relative advantages(/disadv) of each these communication media)
Objectives of an IMC(integrated marketing communications) program:

Provide consistent messages across all audiences
Create a unified image of the organization/products
Maximize effective promotional strategies while continually reaching the target consumers

Factors influencing Promotional Mix:

Channel Strategies:
Push Strategy: directing promotional mix to channel members to gain their cooperation in ordering and stocking the product: use primarily personal, direct selling, and trade promotions Disadv: intermediaries may not want to stock up

Pull Strategy: direct promotional mix at ultimate consumers, direct-to-consumer promotions, rebates, etc;. consumers ask retailers for the product, who then orders it from wholesalers – demand stimulation works upward thru the channel

Consumer response to promotions (Hierarchy of Effects):

Awareness
Interest
Evaluation
Trial
Adoption

Setting Promotion Objectives:

Percentage of Sales
Competitive Parity
All-you-can-Afford Budgeting
Objective and Task Budgeting

Sales Promotion – a mass communication technique that offers short-term incentives to encourage purchase or sales of a product or service.

Types:
Consumer Promotions - rebates, coupons, deals, free-samples, point-of-purchase display, contests, sweekstakes; any sales promotions that reaches consumers directly.

Trade Promotions – trade allowances, merchandise, case, financial allowance, quantity discounts, co-operative advertising; promotions given to channel intermediaries

Marketing Plan Template

Vignesh — Mon, 10 Jul 2006 20:23:25 +0000

I have posted a template you can use for your marketing plan under course downloads. I will discuss about it in class tomorrow. You can download the file here.

Class 15 Review: Retailing

Vignesh — Fri, 07 Jul 2006 01:40:43 +0000

Value added by the retailer: 4 factors:

Form
Time
Place
Possession

Types of Retailing:

Store retailing.(grocers, convenience stores, supercenters, etc)
Non-store retailing. (direct mail, catalog, online, auction sites etc)

Retail Strategy:

Retail Positioning
Retailing Mix

Merchandise managment
Store management

Components of retailing mix:

Retail pricing
Store Location
Retail Communications
Merchandise

Retail Pricing

Markup on Cost/Price/Sales – most common method
EDLP vs. HILO pricing strategy.

Nike’s Skateboard

Vignesh — Fri, 07 Jul 2006 01:34:58 +0000

Click here to read an interesting article about how Nike conquered the skateboard culture. The article highlights the challenges involved in reaching out to a new target market and repositioning a brand.

Courtesy: Robin Tovson