Log in
HomeStudy Guides420,000CA160,000

MKT 100 : Module 1

117 views4 pages
beigefish258
29 Mar 2011
School
Ryerson University
Department
Marketing
Course
MKT 100
Professor
Paul Finlayson

For unlimited access to Study Guides, a Grade+ subscription is required.

itskiyethangeli and 39956 others unlocked
MKT 100 Full Course Notes
1
MKT 100 Full Course Notes
Verified Note
1 document

Document Summary

Increases value, wealth and welfare: virtuous circle/cycle effect is the economic growth engine that has propelled civilization forward marketplace and is raising the prosperity and quality of life of humanity. Innovations of global transportation and communication created global. Increases efficiency of utilization of earth"s dwindling resources. Master traders: distribution system in north america leads as the innovator and mass market trendsetter in reducing supply-chain and distribution costs with greater systems control and management of quality and risk. Important to be on trade route cross-roads where innovation between economies and cultures inter-mix and turn economies and societies in these great trading hubs into centers of cross-cultural fertilization, innovation, prosperity, enlightenment and power: creates mixing of culture. In three to four generations, take advances in distribution for granted, not understanding how to fully react as an economy, society, culture, and species to this new reality www. notesolution. com. Retailer/distributor profits increase and/or prices drop in price-competitive markets.

Get access

Grade+
$40 USD/m
Billed monthly
Grade+
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
10 Verified Answers

Related Documents

MKT 100 Chapter : Module 1 Notes
bluejackal172
MKT 100 Chapter Notes -Microeconomics, System Dynamics, Perforce Software
skywombat72
MKT 100 Lecture Notes - Jared Diamond, Perforce Software, System Dynamics
aquamarinebeaver407

Related Questions

Which of the following statements is true about cause-related marketing?
a. Any marketing effort for social or other charitable causes can be referred to as cause-related marketing.
b. Cause-related marketing is a marketing relationship based on a straight donation.
c. Cause-related marketing occurs when government agencies and nonprofit agencies launch social campaigns.
d. Cause-related marketing seldom helps companies increase the sales of their products.

Which of the following statements is true of customer relationship management?

A. It is used more by sales-oriented firms than market-oriented firms.

B. It involves linking all processes of a company from its customers through its suppliers.

C. It tries to convince potential customers to buy, even if the seller knows that the customer and the product are mismatched.

D. It is most extensively used by production-oriented firms.

 few years, British Sky Broadcasting has transformed the way people in Britain watch and use their television. Before Sky, people could never have imagined ordering a pizza or sending an email from their set. Today it's an accepted thing.

Part of Sky's success has been in its brand - in defining what makes Sky special and in expressing that difference visually, in products and in the actions of people in the company. And that brand has become one of the company's greatest assets. Brands help companies build a relationship with a customer. A good brand not only helps differentiate a company, it also helps the customer feel something as a result. A pair of Nike trainers might make a person feel more fashionable. A Sony minidisc player might make a person feel they are at the cutting edge of miniature technology. A Rolls Royce might make a person feel that they have reached the top.

Some brands even go beyond that and become so well known that they become generic. This means they're used as a general term for that type of product, even if it's a competitor's product. Walkmans, and Hoovers are a good example. People Hoover the carpet, even if they're really using an Electrolux.

A brand helps customer recognition and enables recognition to be spread by word of mouth as well as by advertising. A brand also adds value. It can allow a company to offer its products at a premium, without reducing the customers' perception of value for money. It also allows a company to extend what they offer to the customer - if a customer trusts one product from that company, they are more likely to trust (and buy) another product from the same company.

That is why Sky has invested so much in its brand. As the first entrant 16 years ago in the field of multichannel television, it had the opportunity to build strong recognition and to even establish itself as the generic brand for multichannel television.

Source: (viewed 10 February 2019)

QUESTIONS

1. In the above article, "if a customer trusts one product from that company, they are more likely to trust (and buy) another product from the same company". Discuss different ways that companies can use to increase brand loyalty. Justify your answers with relevant examples. (5 marks) (500 words)

2. In the above article "brand has become one of the company's greatest assets". Do you agree? Justify your answers with arguments and examples. (5 marks) (500 words)