SMG SM 131 Lecture Notes - Lecture 5: Peter Drucker, Viral Marketing, Customer Experience

• School: Boston University
• Department: School of Management
• Course: SMG SM 131
• Professor: Matthew Reis

Document Summary

Marketing and innovation produce results; all the rest are costs. Find a need, create a product to fill it. Marketing size (industry growing, declining, how many people buying), demographics, geography, psychographics (morals, values, etc). , behavior, usage & frequency, occasion, where they buy, importance of features, information sources, etc. Computers, telecommunications, bar codes, data interchange, internet changes. General marketing concepts apply to all markets. Where the money stops is the type of business. Analyze markets to determine challenges, opportunities and find info to. Gather, analyze, interpret information about markets, products, or make/choose business opportunities services to be offered for sale in specific market as new or substitute product. Lifestyle & behavior (benefits, gym regulars, sports lovers) How should we distribute the product? . Product life cycle (plc) **** google this shit son. Competition ends, so profits start decline while sales still soaring. Iphones cost 200 bucks to make, 1000 to sell.