MKTG 360 Lecture Notes - Lecture 11: Disposable And Discretionary Income, List Price, Rexall
Types of Marketing:
Research
Development
Sales
Distribution
Advertising
Promotion
*Marketing does not include producing of goods and
services*
Branding:
identity of a product - it is what makes the product different than other products
What do marketers hope to create by using branding?
BRAND LOYALTY
Brand and Image are based on:
Brand name
Logo
trademark
Slogan
Jingle
Brand names can be:
Corporate dominant - using the complany name in the product name: Roots clothing, Shoppers (Drug
Mart Life brand)
Product dominate - using the products name alone to sell a products (Luv's diapers, Zest soap, Fancy
Feast)
Brand names
a word or group of words that a business uses to distinguish its products from competitors products.
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Logos:
-symbolic versions of a brand
- a special symbol that is associated with a product or company
3 versions of logo's
1. Monogrammatic: Stylized writing (IBM, LV)
2. Visual Symbols : (Apple, tony the tiger)
3. Abstract Symbol : don't look like anything but represents something else. (nike check)
Trademark:
a word, symbol, or design or a combination of these used to distinguish ones company's good or
services from other goods or services. You have a legal right to it.
Slogan:
a short, catchy phrase that is usually attached to the company's name and logo
Redemption Rate:
Used by advertisers to measure the effectiveness of a coupon promotion
Premiums:
Giveaways, freebies. Something a customer gets for free with the purchase of a product.
Indirect Competition:
Other spending needs that may draw customers dollars away from our products.
Direct Competition:
Other sellers of products similar to ours.
Discretionary income:
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The income you have that is not committed to pay for basic needs, such as food, clothing and shelter.
Disposable income:
The money you have left over after you pay your taxes.
4 P's of Marketing
Product
Price
Place
Promotion
Product:
The development of good products and services considers:
-Quality - improvements made to the quality of a product attracts more customers
-Design (style, packaging, shape, colour)-
-Features - materials, scent, size, taste etc
-Benefits - advantages of the product
-Service and support (warranty, return policy, sales service)
Price:
The change in the price of a product can easily affect the success of product.
-List price
-Discounts
-Payment period
-Credit terms
Place:
How will you deliver your goods and services to customers?
Channels of Distribution
Location
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Document Summary
*marketing does not include producing of goods and services* Branding: identity of a product - it is what makes the product different than other products. Corporate dominant - using the complany name in the product name: roots clothing, shoppers (drug. Product dominate - using the products name alone to sell a products (luv"s diapers, zest soap, fancy. Brand names a word or group of words that a business uses to distinguish its products from competitors products. A special symbol that is associated with a product or company. 3 versions of logo"s: monogrammatic: stylized writing (ibm, lv, visual symbols : (apple, tony the tiger, abstract symbol : don"t look like anything but represents something else. (nike check) Trademark: a word, symbol, or design or a combination of these used to distinguish ones company"s good or services from other goods or services. Slogan: a short, catchy phrase that is usually attached to the company"s name and logo.
