MKTG 3553 Lecture Notes - Lecture 2: Southwest Airlines, Sales Promotion, Marketing Mix
22 Jan 2018
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Document Summary
Functionals are very easy to reproduce, emotionals are very difficult. Consumption values vs. functional values (what does it do?) 5 different types of benefits to look for in a product. For consumer products sold in the us, there is no relationship between price and quality. Dry cereal (generic brands are better than name brands) The less informed consumers are the more they rely on a perceived price/quality relationship. Price conscious people don"t look at prices to make decisions (?) Not as big as people think (only 5% of food sales happens online) The five c"s the things we can"t control. Southwest airlines didn"t want to compete with other airlines, they wanted to compete with buses (they focused on purpose : competitors. We keep our eyes on them, but can"t control them: company. Legal has most power over company, and finance with second largest: channels. Births/person is going down because females are working and getting married later in life.
