MKTG 3104 Lecture Notes - Lecture 2: Millennials, Emoji, Alec Baldwin
Document Summary
: peer-peer educational platform on monday at 7 pm at squires student. Profit oriented: all products must provide for at least an 18% profit margin to reach a particular profit goal. Sales oriented: set prices very low to generate new sales and take sales away from competitors. Competitor oriented: to discourage more competitors from entering the market, set prices very low. Customer oriented: target mkt segment of consumers who highly value a particular product benefit and set prices relatively high. Can"t always sustain it; the key issue is that it does not take into consideration the value customers have for the product. This may lead to prices being set below and optimal level. Sales orientation: does not always imply setting low prices, more concerned with overall mkt share; focus on increasing sales; firms that want to attain market leadership set prices at less profitable levels to gain market share.