UB MGM 301 - TEST 1 REVIEW SHEET (6 pages)

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TEST 1 REVIEW SHEET



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TEST 1 REVIEW SHEET

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Pages:
6
School:
University at Buffalo, The State University of New York
Course:
Mgm 301 - Principles of Marketing
Principles of Marketing Documents

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MGM TEST REVIEW SHEET Chapter 1 Marketing Ad Age s Top 5 Marketers of Century 1 Procter Gamble multiple branding strategy allows diff brand names and products under same company a Owns over 100 products b invented brand management contract c 60 Billion yr company d First to online advertise e Credited with Soap Opera term f Spends a lot of time on consumer research 2 McDonald s single operator in 60 s major franchise emphasis on tweens uses transformational advertising which allows products to transform into experiences and events a Problems social trends bad rep with health issues hurt Mcd s in 2000 super size slowed innovation b Solution price promotion lazy way to market Hamburger University employee training healthy meals now option to sub fruits milk in kid s meal 3 Coca Cola most powerful brand name brand equity is very strong a Brand equity value of firm subtract value of all tangible assets b 60 of total value is brand but people like taste of Pepsi 4 Budweiser 1st national Brewery 1 market share nationwide a creative diversity key to developing products and keeping alive 5 Nike uses Family Branding same name on all products familiarize Lowering product price is not good marketing strategy improving product quality is more stable and sustainable Marketing The activity of creating communicating delivering and exchanging offerings that benefit the organization and its stakeholders at large The purpose of business is to create retain value 1 Customer Value The unique combo of benefits received by targeted buyers at specific price 2 Assessing and Satisfying consumer needs 3 Marketing Exchange is what happens any time two or more people trade goods or services 4 In marketing theory every exchange is supposed to produce utility which means the value of what you trade is less than the value of what you receive from the trade each better off after trade 5 The Exchange Process the trade of things of value between buyers and sellers so that each is better off after



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