MGTA02H3 Lecture Notes - Lecture 3: Luxury Vehicle, Marketing Myopia, Wedding Ring
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MGTA02H3 Full Course Notes
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Mgta02h3 s managing the business organization | week 3. Office hours: ic 200b 12:00-13:00 monday, 13:00-14:00 tuesday, or by appointment. Marketing 4 p"s: price, product, place, promotion. The key to marketing: focusing on customer"s need and wants. Week 3 marketing 4p"s: product: definition of a product: everything that fills a customer"s need and want. Closely connected with the money you are willing to pay. The more money you spent, the better service/products you will get: two ways of categorizing products. Consumed quickly. (milk, tea, bread, etc. : shopping product. More expensive than convenience products, more features than convenience products. (laptop, cars, etc. : specialty products. Products that bought by customers just once in their whole life. (wedding ring) Products that you can find directly from supermarkets. Products that purchased by factories to produce cereal packages. (paper, glue, and ink: life cycle model. Two dimensions: time and growth (can be measured through money, number of buyers, etc.
