ADM 2320 Lecture Notes - Lecture 7: Starbucks, Walmart, Russian Culture

• School: University of Ottawa
• Department: Administration
• Course: ADM 2320
• Professor: David Delcorde

Document Summary

Mostly commodity products are usually in mass markets however marketers realize that even commodities as a whole (e. g. salt, sugar, rice, potatoes, etc. ) they try to differentiate products. Mass or undifferentiated: there are very few mass market products, ex. Even commodity goods such as flour now get differentiated: for different products, consumers fall in different segments. Differentiation gives you advantage, allows you to charge premiums, to develop loyal customers, to become profitable. Differentiation strategy: where you try to differentiate your product from competition or you can have a variety of different products in your own lineup: ex. Maple foods bacon bacon, natural bacon, maple bacon, ready crisp bacon: ex. Coca-cola vanilla coke, cherry coke, coke zero, diet coke. When you make a new product, you want to grow your market share & fill the segments. You do(cid:374)"t (cid:449)a(cid:374)t (cid:455)our origi(cid:374)al (cid:272)o(cid:374)su(cid:373)ers to s(cid:449)it(cid:272)h o(cid:448)er to (cid:455)our other produ(cid:272)ts. Ppl who buy original bacon decide to buy maple bacon instead now.