ADMS 2200 Lecture 2: Marketing Strategy Jan 15

• School: York University
• Department: Administrative Studies
• Course: ADMS 2200
• Professor: Leslie Melamed

Document Summary

The 4 ps: the marketing mix: product: the thing itself. Includes brand, size, quality, features, packaging, warranty; lifecycle. Service is a thing you pay for or exchange for and is not tangible: promotion: the communication activities of marketing. Inform, persuade and remind potential buyers or former buyers of products: what is done to get the consumer"s attention, to hold their interest, to arouse. Desire, and obtain action (aida model: you want to be considered an alternative, so it crosses the consumers mind. Ex deciding which laptop brand to go with: price is everything the buyer gives up to exchange for the product. The dollar store selling a designer men"s suits, that"s not the right place to be selling them: ex. Convenient stores don"t sell large quantity products because people can"t carry it out, it would be convenient in a costco: the distribution strategy that allows you to get the product to the right customer, ex online shopping, delivery.