MKTG1001 Lecture Notes - Lecture 10: Test Market, Settling Time, Crowdsourcing

• School: University of Sydney
• Department: Marketing
• Course: MKTG1001
• Professor: Jeaney

Document Summary

Lecture 12 personal selling, product life cycle and new product. Personal selling interpersonal interactions with customers to make sales/maintain relationships. Promotional mix public relations, sales promotion, advertising, personal selling. Role of ps interpersonal arm of promotion mix (advertising = one-way, impersonal comms with target market) Ps = two way, person to person dialogue b/w prospective buyer and seller. Sales persons job remind, inform, persuade. Role of sales force: close (finalise) sale, manage important customer relationships, two way communication back to firm, find customers. Integrated marketing communication consistent/continuous brand messaging and interaction with customers. Trade promotion = ensures product displayed advantageously in stores. Direct/digital marketing = gain subscribers, open dialogue and develop ongoing relationship with potential customers that will bring sales. Innovation (cid:862)u(cid:374)pla(cid:374)(cid:374)ed(cid:863) produ(cid:272)ts microwaves, teflon, penicillin, x-rays, dynamite, viagra . Characterised by two dimensions : how much user must change behaviour in order to use innovation, how new technology is to user.