MGMT 260 Lecture Notes - Lecture 3: Irobot, Marketing Mix, Fixed Cost
27 Sep 2016
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Document Summary
What is the purpose of you marketing? (action to motivate) The more you know about who your ideal customers are, the better you can design your marketing mix: products, prices, place how they get it, promotion. Not just demographics: what distinguishes between people who will be heavy users of your products/service, and those who wont be, how can you find ways to get to just those people. The challenge: better everything fits, the better the business. Marketing mix, customer needs, entrepreneur abilities and resources. You can pick different starting points, but ultimately, it"s got to fit. Primary research: customer surveys and questionnaires, focus groups, transaction data i. e. register receipts, loyalty data. Secondary research: library, analyst websites, kickstarter information (e. g. kickstarter, kicktraq, indiegogo, online enthusiast communities, amazon"s suggestion system. Find a niche and fill it: try to make sure it"s profitable first.
