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Test slide 2 May 27, 2010

Posted by Vignesh in Announcements.
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Attached are the slides for class 2

2mrprocess.ppt

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Final Exam July 25, 2006

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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:

  1. What are the two types of channel conflicts? What are the main sources of each type of channel conflict? Describe them with examples.
  2. What are the components of the promotional mix? How can their relative importance change with the PLC?
  3. What do you understand by ‘Push’ and ‘Pull’ strategies? Explain.
  4. Each product will have a life cycle. Briefly explain each step in the product life cycle (PLC) and the marketing objective at each stage.
  5. 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?
  6. Discuss briefly 3 competition-oriented pricing strategies.

SAT 6 is now online July 20, 2006

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

Class 17 Review: Advertising July 19, 2006

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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:

    1. Identifying target audience
    2. Specifying advertising objectives
    3. 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 July 13, 2006

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

    SAT 5 is now online July 11, 2006

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    covers topics in Channels and Retailing.

    Class 16 Review: Promotions July 11, 2006

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    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):

    1.  Awareness
    2.  Interest
    3.  Evaluation
    4.  Trial
    5.  Adoption

    Setting Promotion Objectives:

    1. Percentage of Sales
    2. Competitive Parity
    3. All-you-can-Afford Budgeting
    4. 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 July 10, 2006

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    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 July 6, 2006

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    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 July 6, 2006

    Posted by Vignesh in Marketing News.
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    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

    Midterm II Grades July 6, 2006

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    Midterm II grades are now available on WebCT. Overall, the class did very good, despite the test being a little more challenging than the first midterm. You can check your graded test to see which questions you missed, by clicking on your submission.

    Click here to view the answer key for midterm 2.

    Midterm II: Test Window is now Open June 30, 2006

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    Midterm II is now available on WebCT. The test window will close on Monday midnight. The time limit has been raised to 50 mins for this test. Goodluck!

    Class 14 Review: Channels June 29, 2006

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    Marketing Channel – agents involved in the process of making a product or service available for use or consumption by consumers or industrial users.

    Channel Members: Producer, Distributor, Agent, Wholesaler, Dealer, Retailer.

    Functions of a Marketing Channel

    • Transactional Function
    • Logistical Function
    • Facilitating Function

    Channel Structures:

    • Traditional Channel or Online Channel
    • Direct or Indirect Channel

    Channel Conflicts:

    • Vertical Channel Conflict- between members at different levels
      • Disintermediation: when one channel member by-passes another member and buys or sells direct
      • Profit Sharing: distribution of profit margins among channel members
      • Inadequate selling effort by retailers:
    • Horizontal Channel Conflict – between members at the same level
      • Increased distribution coverage
      • The same brand carried by different types of retailers
      • “Free Riding” Problem

    Factors Influencing Channel Choice:

    • Target Market Coverage
      • Intensive
      • Extensive
      • Selective
    • Buyer Requirements
    • Information, Convenience, Variety, Service.
  • Profitability
  • Class 13 Review – Pricing Strategy June 27, 2006

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    How to choose a Pricing Strategy?
    Based on: Demand effects, Company Effects (price lining), Competitor Effects and Customer Effects.

    4 Approaches to Pricing:

    1. Demand Oriented Approaches:
      • Price Skimming
      • Penetration Pricing
      • Prestige Pricing
      • Price Lining
      • Odd-Even Pricing (99c pricing)
      • Target Pricing
      • Bundle Pricing
      • Yield Management Pricing
    2. Cost Oriented Approaces
      • Standard Markup Pricing
      • Cost Plus Pricing
      • Experience Curve Pricing
    3. Profit Oriented Approaches
      • Target Profit Pricing
      • Target Return-on-Sales Pricing
      • Target Return-on-Investment Pricing
    4. Competition Oriented Approaches
      • Customary Pricing
      • Above, At or Below Market Pricing
      • Loss Leader Pricing
      • Predatory Pricing

    Geographic Pricing:

    • FOB Origin Pricing
    • Uniform Delivered Pricing
    • Basing-Point Pricing.

    SAT 4 is now Online June 27, 2006

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    Covers topics in Product Development and Pricing.