MKT 3401 : Marketing Final 1st Half
Document Summary
What is required to be successful in business: market yourself, sell yourself, know people, maintain contacts. Traits to be successful: creative, aggressive, enthusiastic, smart, honesty. In 2003, wsj conducted a survey to interview graduating students from ivy league schools. The top four qualities looked for in mba students: interpersonal and communication skills, teamwork, honesty, expertise / core competency. Credibility: trust / honesty apology, knowledgeable / expert, position / status, personal brand, personal brand = performance + personality + visibility + trust, pb = p1 + p2 + v + t. Increase in usage: referrals, reduce selling effort, premium pricing. Target: choose a mass-marketing strategy, multi-segmentation, niche (smaller, specialized market) Position: highlight benefits, give attributes, communicate the value. Marketing mix (4 p"s: product (service) inexpensive place to nap between travels. If you do all these, you will attract a particular audience. Hard rock caf --- when purchased by organization in florida, they realized fragmentation and decided to unify brand images.
