BUS 1050 1nd Edition Lecture 14 Outline of Last Lecture Cicero Outline of Current Lecture 4 Ps Marketing Strategies Current Lecture Cicero 1 Gyges value of education 2 fairness doctrine Value of self interest and enlightened behavior 3 Two marketing cases enlightening strategic marketing 4Ps Aquinas Price Just price sin Product Substance quantity quality Promotion Safety Place Efficiency Anti Arstotelian These notes represent a detailed interpretation of the professor s lecture GradeBuddy is best used as a supplement to your own notes not as a substitute Portfolio Breadth Line 1 Line 2 Line 3 Line 4 Depth Brands A E Brands F I Brands J K Brands M P Total brand length New Products Price High Product Basic Add extras later to extend life Promotion Advertising Distribution Growth Price Lower a bit Product Leave basic work on improvements PromotionDistribution good Maturity Price Lower Product Stays Distribution Steady Promotion Reposition Moe to new market Move to new market New use for product baking soda Can protract life cycle Decline Price Lower in some markets raise in others Product Stays the same Promotion Way Lower Distribution Lower Market doesn t decline in all markets at the same time Depth Number of products in a life Breadth Number of lines in company Total brands all products in company length Line manager Over grouping soaps etc Brand manager Specific Brand and Product Segment Specific Find products that are for group Find target group Casual Research What is causing IRI Information Research Inc Market Research is huge Sales Dependent variable Advertising weather sales promotion anything that can effect sales Naturalistic inquiry Engage in observation of shoppers New Idea Development Acquisition buy from another company Share and profitability Develop Increase shares increase profits lower risk of operation Brands are like stocs in a portfolio more brands balance out the risks Techno Equilibrium Same product available go by price Differentitation How are you better than the other guy VALUE Commodified Product that can only be different by price Orphan Drug Law ACT Rare diseases federal funding for drugs that would otherwise be profitable 1983 Utah 1 to 1 5 of market share for products nationwide
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