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Midterm

MKT 300 Study Guide - Midterm Guide: Blue Ocean Strategy, Sales Promotion, Price Level


Department
Marketing
Course Code
MKT 300
Professor
Armand Gervais
Study Guide
Midterm

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MKT 300 – Marketing Metrics & Analysis Textbook Notes
4 P’s Add value to a firm
+ 3’s – Important to service industries
Product
-Physical good features
-Quality level
-Accessories
-Packaging
-Warranties
-Product line
-Branding
Place
-Channel type
-Exposure
-Intermediaries
-Outlet locations
-Transportation
-Storage
-Managing channels
Promotion
-Promotion blend
-Sales people
oSelection
oTraining
oIncentives
-Advertising
oMedia types
oTypes of aids
-Sales promotion
-Publicity
-Internet/web strategy
Price
-Flexibility
-Price level
-Terms
-Differentiation
-Discounts
-Allowances
People
-Employees
oRecruiting
oTraining
oMotivation
oRewards
oTeamwork
-Customers
oEducation
oTraining
Physical evidence
-Facility design
-Equipment
-Signage
-Employee dress code
-Other tangibles
oReports
oBusiness cards
oStatements
oGuarantees
Process
-Flow of activities
oStandardized
oCustomized
-Number of steps
oSimple
oComplex
-Customer involvement
Blue Ocean Strategy
-Creating new demand for non-existing products
Red Ocean Strategy
-Competing with companies for existing products
-Products become commodities
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