MGCR 352 Lecture Notes - Rolex, Retail, Micromarketing

• School: McGill University
• Department: Management Core
• Course: MGCR 352
• Professor: Emine Sarigollu

Document Summary

Now, advertisement regulations dictate that the use of a drug can not be advertised. Impact of marketing in building a brand / creating a demand. Pro t can be monetary, but also evaluated in the number of members involved. There may be multiple goods or services that can satisfy a speci c need. Marketer needs to identify what the better option is. Marketers can make people nd needs they didn t know they had. Creation of value important for businesses to survive. Basic watch -> utility / tells time [timex] Expensive watch -> status; additional bene t [rolex, tag heuer] Special features watch -> need for extra precision e. g. different time zones, durability. Thus, there are different types of customers, all of which need to be catered to. A company can choose one speci c segment of population, or try to accommodate all. Rolex & tag heuer are targeting the same status-seeking population.