COMMERCE 2MA3 Lecture Notes - Lecture 8: Lego Friends, Cough Medicine, Walkman

• School: McMaster University
• Department: Commerce
• Course: COMMERCE 2MA3
• Professor: Bharat L Sud

Document Summary

Marketing midterm: 50 questions mc, 75 minutes, no case study, all application questions (example of a brand or person doing something, and you have to figure out what strategy it is) Understand generational cohorts (which year is generation x born in) 95% of (cid:374)e(cid:449) produ(cid:272)ts fail (cid:894)do(cid:374)"t e(cid:448)e(cid:374) (cid:373)ake it to the shel(cid:448)es. For the products that did go to the shelves, it got commercialized -> the company must have come up with 600-5000 ideas. 1 of those ideas actually makes it to commercialization. Pharmaceutical company: every drug that released on the market, they have 3-5000 ideas: minimum of 7 years to get the product from idea to commercialization. Strong influence on success of products especially when they launch. Marketing is increasing in success of the development of new ideas. Girls like building in a social setting. So they came up with lego friends: online and offline to appeal to girls.