MGMT 105 Lecture Notes - Lecture 7: Business Analysis, Test Market, Starbucks
18 Jul 2018
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Document Summary
No one can use either, but r is more intense. Licensing is allowing others to use trademarks. Starbucks is licensed to barnes and noble. Packaging is the biggest space for advertising. Except in food and medicine, signals death. Strategy is the what, tactics are the how. New product strategy unites the marketing dept, business unit, and corporation to sharpen the focus and provide general guidelines for creating new products. Business analysis stage evaluates demand, cost, sales, and profitability. Test market is a limited introduction, how it"s gonna go before it happens. Diffusion is the way things go from idea to utilized. Product life cycle, birth to death of a product, not very scientific. Traces product"s acceptance from introduction to decline. New products are important to sustain growth, increase revenues and profits, and replace obsolete items. Being first on the market has a number of advantages.
