04 04 2011 BMGT350 be aware Cognizant knowledgeable through personal experience to be mindful to Corroborate confirm or give support to Desist to stop cease to act Diatribe a bitter and abusive speech or piece of writing a critical rant Doleful to be sad causing grief or affliction expressing sorrow Dregs the least desirable parts the sediment at the bottom Duress forced against your own free will Allows FTC to investigate monitor and remedy unfair business practices Makes price discrimination illegal Empowers FTC to set limits on quantity discounts Prohibits promotional allowances except when made available on Federal Trade Commission Act Enacted in 1914 Creates FTC Robinson Patman Act Enacted in 1936 proportionately equal basis Wheeler Lea Act Prohibits deceptive misleading and unfair practices even if competition is Places advertising of food and drugs under FTC jurisdiction Protects and regulates distinctive brand names and trademarks Allows companies to secure rights to a name before actual use declare U S participates in Madrid Protocol treaty global protection 2003 Enacted in 1938 not injured Lanham Trademark Act Enacted in 1946 intent 1988 IP Trademark Patents Copyrights Trade secrets Flyte Tyme Social Force Growing use of online music ex computers iPods Seeing nothing ethically wrong with sharing copyrighted music Teenagers and young adults representing major segment of downloading music Existing economic climate affecting consumer income Wealth Effect experienced by Generation Y ex teens Rising costs to develop produce and market a CD Fewer singles being produced driving consumers to buy entire CDs or to Appearance of packaged music CD DVD maxi singles 5 or 6 remixes download off the Internet of the same song Anti piracy technology iTunes legal music service changing distribution patterns ex Target and Best Buy with own labels Heavy discounting of singles by music retailers putting a squeeze on record company profits In spite of lawsuits websites supplying free music continue to flourish Exam 1 Overview 04 04 2011 Format 50 multiple choice Nature definition comprehension application Content lecture textbook Chapters 1 3 4 8 9 Aids 2 pencils calculators Date Monday February 21 2011 Place 1330 VMH Time 12 30 1 30 0301 BMGT350 04 04 2011 Flyte Tyme Regulatory Force U S Constitution Article I 8 The Congress shall have Power To promote the Progress of Science and useful Arts by securing for limited Times to Authors and Inventors the exclusive Right to their respective Writings and Discoveries the birth of intellectual property law Science Inventors Discoveries Patent lock out 20 years USPTO sell license Arts Authors Writings Copyright 25 years 25 years removal Effigy image or representation especially of a person a crude sculpture or model of a person Egregious a case of something being conspicuous something you cannot miss Emaciated someone who is worn away to waste away physically Eschew to avoid habitually especially on moral or practical grounds to dodge or escape Euphemism a mild or indirect way of expression Exacerbate to make things worse Expunge to erase or remove completely What is Ethics f Ethics honesty proper conduct Ethical Pitfalls Process Related marketing strategies Product Related questionable products Why Managers Do the Wrong Thing Acting in the company s best interest Looking out for one s own interest Unaware of unethical Corporate Guidelines 1 Start at the top 2 Give your code of ethics teeth 3 Never ease up Ethical Behavioral Responses Social Responsibility Consumerism their rights a firm s acceptance of accountability to society for its actions a movement that protects consumers from practices that infringe upon BMGT350 04 04 2011 Textbook Person any questions about it go to her Devon frisselle cengage com Overview Define Marketing Tap Marketing management philosophies Explore goals of Marketing Joker 1 Cesar Romero Clown Like primitive weapons pranks Animated Not Evil crazy uncle in the family Going After Kids boomers Jack Nicholson Joker 2 Batman 1989 Tim Burton directing Darker Gangster More Extreme Weapons More Colorful Joker 3 Heath Ledger Mastermind always scheming showed intelligence Deranged Dingy Dirty Grungy Psychopath Generation Y The Joker Project Part 1 Analyze the needs of people who watch movies Estimate how many movie goers there will be Identify Engaging themes adventure sci fi drama The Joker Project Part 2 Calculate how many moviegoers will actually buy tickets Predict when viewers will want to score movie tickets Determine where moviegoers reside and theatre proximity consider looming formats The Joker Project Part 3 Estimate prices moviegoers are willing to pay use of bundle assortments Craft promotions potential actual moviegoers Identify rivals estimate how many DVDs they will offer what kind and at what price American Marketing Association Marketing is the activity process exchange value Sci Fi Spaceships Hi Tech Aliens o Take over the world o Blend in with society o Disrupt order o Abduction Marketing Puzzle Pieces Consumer Inputs o Needs Physical Social Individual o Want o Demands Marketing Process Desired Outcomes o Satisfaction o Value Marketing Exchange Conditions Must be at least 2 parties Parties must have something of value Parties must want to deal Parties must be free to accept or reject Parties must be able to communicate Need to want personality culture and marketing o Exchange Sine qua non absolutely necessary o Cant have marketing without exchange BMGT350 What is marketing 04 04 2011 Market place where people gather to trade Set of consumers and firms that have desire to and ability to purchase products Product concept Build a better mouse trap and the world will make a beaten path to your door better product more people coming Product concept inside outside game o Focus existing products o Means sales force o Profit sales volume Marketing Concept Give people what they want and you wont go wrong Means integrated marketing communications Profits satisfaction Focus consumer need Marketing Economics Psychology Utility happiness same as satisfaction in Economics o Form utility o Task Utility Offering tangible features Ex Bigger golf club heads Rendering service or performance Ex Tax services o Possession utility Having right to use consume product Ex HBO to watch the Wire o Time utility o Place Utility Having product available when consumers want it Ex Amazon Having product where consumers want it Ex Amazon Value
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