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Introduction to business: product and promotion

1247d0fbb1983f2e8070809bb7acd6ef?s=47 Ted Major
March 22, 2016

Introduction to business: product and promotion

CC-BY-SA

1247d0fbb1983f2e8070809bb7acd6ef?s=128

Ted Major

March 22, 2016
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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    –May be out of date –May ask wrong questions –No competitive advantage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