TMP 120 Lecture Notes - Lecture 8: Competitive Advantage, Marketing Mix, Starbucks
Document Summary
8. 19 4p"s: products: review: customer-driven marketing strategy, burger king vs. mcdonald"s, differentiation. Locations: mcdonald is more global, exits of freeways: products, positioning, price: burger king has higher price, marketing mix, price tolerance level, promotion. Market offerings include both tangible goods and services: differentiate brands, starbucks: try to become cultural phenomena, marketing considerations for customer product, convenience, shopping, specialty, car companies, unsought, product and service decision. Individual product decisions: product line decisions, product mix decisions, branding, quality & consistency, value, packaging, apple: simplicity & minimalism, puma, emotional connection. Start with existing products in the factory: contemporary. Start with marketing demand: categories of consumer products and give example. Specialty product: sharpening skills for knife, nice watch like rolex: convenience product, unsought product, definition of marketing, explain the component of 4ps, price, placement, promotion, product. Selling: profits through sales volume: abundance of products in the nearby shopping centers, television, magazine, and direct-mail ads, contemporary marketing: satisfying customer needs.
