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MKT100 Lecture #2 Notes.docx

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MKT 100
Anthony Francescucci

MKT100 – Principles of Marketing Thursday January 19 2012 Lecture #2 Notes Market Planning & Analysis Why is Marketing Grey? Marketing is about making recommendations Doing or not doing something Slide 6  Monopoly: Control over everything, how much products available for sale  Oligopoly: Few suppliers because it typically requires investment  Monopolistic Competition: Lots of suppliers, their products are differentiated  Perfect Competition: Lots of suppliers, the products are undifferentiated = consumers cannot tell the difference; treated as commodities Slide 8 Market Share: is a part owned by one company/particular industry Slide 10 Why else is it important to define a market? Don’t want to miss out on opportunities Slide 11 Less concentrated & more competitors: Easier to establish yourself in those markets Slide 15  Higher Share of Mind will ultimately lead to Share of Market; The more customers that think about that product, the more likely they will purchase the product  Share of Voice is a very simple calculation; how much I spend on advertising in comparison to everyone in the industry  Share of R&D: How much I spend in Research and Development compared to everyone in the industry.
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