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Final

MKC3140 Study Guide - Final Guide: Mutual Fund, Mass Marketing, FonduePremium

2 pages44 viewsSummer 2018

Department
Business - Marketing - MKC
Course Code
MKC3140
Professor
Felix
Study Guide
Final

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MKC3140 Strategy Notes
Marketing Principle #1: All customers differ
For most products and services customers vary widely on
desires/needs
o Over 9000 mutual fund options, Grocery stores carry 60,000+
SKUs
o Even for “commodities” (e.g., coffee, water)
Therefore, firms are targeting smaller & smaller segments
Mass marketing niche marketing 1-to-1 marketing
Competitive race as firms target smaller segments
Retail (Sears vs. Eurosport), cars (Model T vs. today)
Why?
Matches inherent customer desires (real, perceived)
Faster response to customer trends and changes
Technology enabled (more economical to target/customize)
Only limited by tradeoff in efficiency (cost) versus benefit of better
match to need (solution)
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