BU121 Lecture Notes - Lecture 6: Junk Food, Sales Promotion, Value Proposition
Document Summary
Keys to success: the two keys to success are, provide a unique benefit, convince the customer that the product provides that unique benefit through consistent product, pricing, promotion, and distribution/place decisions. All parts of organization must have clear idea of the unique benefit. Value proposition: clear concise statement of products unique benefits acts as glue that keeps decisions consistent because it binds decision making together. Every decision must be consistent with its value proposition. The toyota brand is reliable, stable, and more of the parent market. Toyota did not create a separate image, so they had the same image and youth consumers were confused about the product. Profit will be lower because costs are high. Pricing: set introductory price: growth: sales will increase at a high rate and profits will increase. Profits will be lower because costs are high. Marketing objectives: get triers to repurchase and attract new users.
