BU121 Lecture Notes - Brand Loyalty, Cash Register, Junk Food
Document Summary
Justify your target, and be sure it makes sense- something a group wants and you can somehow be unique. Be at the marketing session at ba102 monday 5:30. Finding a distinct position for your product in the customer"s mind. One that communicates that the product provides a unique benefit. The objective is to position the product as close to the ideal as possible. Consumer approach- identifying what the customer is going to get. Competitive approach: we are providing the benefit, the competition is not (vista vs mac ad) Be truthful or a lawsuit may arise (slander) No formula- projections based on research and logic = educated guess you can defend. Market potential does not equal sales forecast: forecast depends on plan- sales force, distribution, operations. Sales force and hr worked out, but shortage of workers = discerns investors. Distribution- be realistic of how many units you can sell/produce. Have a plan that can back up a forecast.
