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Lecture

MKTG 317- Notes Jan, 2013.docx

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Department
Marketing
Course
MKTG 317
Professor
D.Lynne Ricker
Semester
Winter

Description
MKTG Sept. 18/2012 Trends: -Established from external environment -Social Trends (Faith popcorn):  Fantasy Adventure: -Emotional escape from daily routine (e.g. video games , movies, travel/ vacations) - From vacations to virtual reality  99 Lives: -Allaying concerns over busy lifestyle by multitasking (e.g. Bluetooth headsets, laptops, automated products) -Markets can bundle offerings into clusters (e.g. cable TV, electricity, internet)  Cocooning: -Netflix, take out food, online shopping, entertainment systems  Small indulgences: -High end products that aren’t so bad in modesty (e.g. high quality food, chocolate)  Down aging: -Skin care (e.g. Botox, wrinkle cream) -Population Trends:  Aging population: -Pension plans, baby boomer (age 46-64) getting pension  raising tax, -Consumer categories hitting growth (e.g. nursing homes, toys for grandchildren, vacations, pharmaceuticals.  Shrinking Population: -Japan and Korea shrinking population (worried how to support social systems without tax payer growing up and getting jobs). Marketing Research: -Definition:  Identify, design, collect, interpret, report -Purpose:  Assess consumer attitudes  Inform about consumer needs and wants  Improve decision making -Goal:  identify problems  help find solutions that meet consumer needs MKTG Sept. 18/2012 Data Collection: Secondary Data + Primary Data= All data sources -Secondary Data  Data that already exist  Collected for another purpose  Sought to clarify problems -Primary Data  Data is “new”  Collected for a specific purpose  Sought to help solve problems Secondary Research: -Databases:  Expensive yet valuable information sources.  Necessary for project research -Journals:  Academic and industry specific (Journal of Marketing) -Internet:  Most popular search tool  Has benefits and pitfalls  Sources (creditability of information)  Sourcing (plagiarism)  Wikipedia -Primary Research: -More lengthy, complex, and expensive:
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