Introduction to business: product and promotion

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Transcript

1. Product and
   promotion
   cc licensed ( BY NC ND ) flickr photo by onurguven: http://flic.kr/p/8zTpFQ
   

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

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3. Primary data
   • Observation
   • Surveys
   • Interviews
   • Focus groups
   • Experiments
   –Cherry Vanilla Dr. Pepper: 61 formulas,
   3904 tastings
   –Frito Lay chips: 4-psi breaking strength
   

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4. Primary data
   • Advantages?
   –Recent
   –Relevant
   –Proprietary
   • Disadvantages?
   –Expensive
   –Time to design/collect
   –Expertise in research design/analysis?
   

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

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6. Secondary data
   • Advantages?
   –Fast
   –Inexpensive
   –Professional design/analysis
   • Disadvantages
   –May be out of date
   –May ask wrong questions
   –No competitive advantage
   

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8. Managing product life cycle
   • Extension
   –New uses
   –New markets
   –Increased uses (3 most brilliant words
   in all of marketing?)
   

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9. What is a brand?
   • trademark
   • marks that identify the source of goods
   ™ ®
   

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

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11. Packaging & labeling
    

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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
    

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13. Labelling
    • Identify brand
    • Provide information
    –Ingredients
    –Shelf life
    –Risks/warnings
    –Instructions
    –Regulated disclosures
    –UPC
    –RFID
    

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14. promotion strategy
    cc licensed ( BY SD ) flickr photo by iakoubtchik:
    http://flic.kr/p/cDRk2E
    

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15. consumer
    decisions
    

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

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17. Consumer decision process
    • Problem recognition
    • Information search
    • Evaluation of alternatives
    • Purchase decision
    • Post-purchase evaluation
    –Cognitive dissonance
    

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

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19. advertising media mix
    • paid, non-personal messages
    • newspapers
    • TV
    • direct mail
    • email
    • radio
    • magazines
    • internet
    

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20. cc licensed ( BY SD ) flickr photo by Thristian:
    http://flic.kr/p/7p7Xjd
    promotion strategy
    

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21. trade promotion
    • trade allowance
    • display premiums
    • dealer contests
    • travel bonus
    

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22. cc licensed ( BY NC ND ) flickr photo
    by greenkozi: http://flic.kr/p/5Y4LVd
    promotion
    strategy
    

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23. consumer promotion
    • coupons
    • rebates
    • point-of-purchase
    • event sponsorship
    • cross-promotion
    • samples
    • premiums
    

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24. promotion goals
    • inform
    • persuade
    • remind
    

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

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