Introduction to business: product and promotion

Transcript

1. Product and promotion cc licensed ( BY NC ND )

   flickr photo by onurguven: http://flic.kr/p/8zTpFQ

2. Marketing research • Market? • Primary data • Secondary data

3. Primary data • Observation • Surveys • Interviews • Focus

   groups • Experiments –Cherry Vanilla Dr. Pepper: 61 formulas, 3904 tastings –Frito Lay chips: 4-psi breaking strength

4. Primary data • Advantages? –Recent –Relevant –Proprietary • Disadvantages? –Expensive

   –Time to design/collect –Expertise in research design/analysis?

5. Secondary data • Already-existing information • Census • CIA World

   factbook

6. Secondary data • Advantages? –Fast –Inexpensive –Professional design/analysis • Disadvantages

   –May be out of date –May ask wrong questions –No competitive advantage
7. None

8. Managing product life cycle • Extension –New uses –New markets

   –Increased uses (3 most brilliant words in all of marketing?)

9. What is a brand? • trademark • marks that identify

   the source of goods ™ ®

10. Branding and brand equity • Why are brands important? –brand

    equity –brand awareness –brand association –brand loyalty

11. Packaging & labeling

12. Purpose • Contain product • Prevent damage • Deter theft

    • Gain attention –Supermarket: 15,000 items –Walmart/Target: 142,000 items –SuperTarget/Supercenter: >200,000 –300 items/minute while shopping –70% of purchase decisions made in-store

13. Labelling • Identify brand • Provide information –Ingredients –Shelf life

    –Risks/warnings –Instructions –Regulated disclosures –UPC –RFID

14. promotion strategy cc licensed ( BY SD ) flickr photo

    by iakoubtchik: http://flic.kr/p/cDRk2E

15. consumer decisions

16. Consumer decision process • High-involvement • Low-involvement –risk –time –resources

    –cost

17. Consumer decision process • Problem recognition • Information search •

    Evaluation of alternatives • Purchase decision • Post-purchase evaluation –Cognitive dissonance

18. promotion mix • advertising • personal selling • publicity •

    sales promotions

19. advertising media mix • paid, non-personal messages • newspapers •

    TV • direct mail • email • radio • magazines • internet

20. cc licensed ( BY SD ) flickr photo by Thristian:

    http://flic.kr/p/7p7Xjd promotion strategy

21. trade promotion • trade allowance • display premiums • dealer

    contests • travel bonus

22. cc licensed ( BY NC ND ) flickr photo by

    greenkozi: http://flic.kr/p/5Y4LVd promotion strategy

23. consumer promotion • coupons • rebates • point-of-purchase • event

    sponsorship • cross-promotion • samples • premiums

24. promotion goals • inform • persuade • remind

25. public relations • crisis communications • news release • press

    conference