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Introduction to business: marketing

Ted Major
March 10, 2016

Introduction to business: marketing

CC-BY-SA

Ted Major

March 10, 2016
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  1. Marketing cc licensed ( BY NC SD ) flickr photo

    by TF28 ❘ tfaltings.de: http://flic.kr/p/8R1gEq
  2. Quiz • Closed book/closed notes • Put away phones until

    quiz is over • You may collaborate with your team • You are responsible for the answers on your quiz • You do not have to choose the same answers as your team
  3. cc licensed ( BY NC ND ) flickr photo by

    imagematters1: http://flic.kr/p/2cDA5w
  4. Value of personal information • Address; $.50 • Zip: $.50

    • Education: $12.00 • DOB: $2.00 • Employment: $13.00 • Phone: $.25 • Unlisted: $17.50 • Cell: $10.00 http://www.turbulence.org/Works/swipe/calculator.html
  5. cc licensed ( BY NC ND ) flickr photo by

    Daniel Pouliot: http://flic.kr/p/6JyKDJ
  6. Customer lifetime value • Value of long-term business from customer

    • Taco Bell? • $12,000 • Starbucks? • $14,000 • Publix? • $75,000 • Lexus? • $600,000
  7. cc licensed ( BY NC SD ) flickr photo by

    mliu92: http://flic.kr/p/9NHpEK
  8. Cadillac v. BWM • 1976: Cadillac had 52% luxury market

    share –Poor customer equity • BMW: lower market share –higher customer equity
  9. cc licensed ( BY NC ND ) flickr photo by

    Motovique: http://flic.kr/p/b34us4
  10. Customer Equity • BWM now #1 luxury brand, ahead of

    Mercedes-Benz • Cadillac market share dropped to 8%
  11. The market cc licensed ( BY ) flickr photo by

    Muffet: http://flic.kr/p/adCYv
  12. Target marketing cc licensed ( BY NC ) flickr photo

    by presta: http://flic.kr/p/6838Fd
  13. Primary data • Observation • Surveys • Interviews • Focus

    groups • Experiments –Cherry Vanilla Dr. Pepper: 61 formulas, 3904 tastings –Frito Lay chips: 4-psi breaking strength
  14. Primary data • Advantages? –Recent –Relevant –Proprietary • Disadvantages? –Expensive

    –Time to design/collect –Expertise in research design/analysis?
  15. Secondary data • Advantages? –Fast –Inexpensive –Professional design/analysis • Disadvantages

    –May be out of date –May ask wrong questions –No competitive advantage