BUS 1050 1nd Edition Lecture 14Outline of Last Lecture CiceroOutline of Current Lecture 4 PsMarketing Strategies Current LectureCicero1-Gyges value of education2. fairness doctrine- Value of self interest and enlightened behavior3 Two marketing cases: enlightening strategic marketing (4Ps)AquinasPrice (Just price, sin)Product (Substance, quantity, quality)Promotion- SafetyPlace- Efficiency: Anti ArstotelianThese 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.PortfolioBreadth (Line 1, Line 2, Line 3, Line 4)Depth (Brands A-E, Brands F-I, Brands J-K, Brands M-P)Total brand = lengthNew ProductsPrice-HighProduct-Basic (Add extras later to extend life)Promotion- Advertising DistributionGrowthPrice- Lower a bitProduct- Leave basic, work on improvementsPromotion-Distribution- goodMaturityPrice- LowerProduct- StaysDistribution- SteadyPromotionReposition- Moe to new marketMove to new marketNew use for product (baking soda)Can protract life cycleDeclinePrice- Lower (in some markets, raise in others)Product- Stays the samePromotion- Way LowerDistribution- LowerMarket doesn’t decline in all markets at the same timeDepth- Number of products in a lifeBreadth- Number of lines in companyTotal brands- all products in company= lengthLine 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 causingIRI- Information Research IncMarket Research is huge. Sales- Dependent variableAdvertising, weather, sales promotion, anything that can effect sales.Naturalistic inquiryEngage in observation of shoppers. New Idea (Development)Acquisition- buy from another company (Share and profitability)Develop – Increase shares, increase profits, lower risk of operationBrands are like stocs in a portfolio, more brands, balance out the risksTechno Equilibrium- Same product available go by price.Differentitation- How are you better than the other guy? VALUECommodified- Product that can only be different by priceOrphan 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
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