[MARK432] - Final Exam Guide - Ultimate 56 pages long Study Guide!

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Scienti c thinking (based on logic & reasoning) vs. Hierarchy of e ects: create awareness, develop beliefs (thinking, form attitude (blends many thoughts together, behaviour (desired by the marketer, the consumer will follow) 80% of money spent on advertising & promotions is wasted. 80% new product launches fail within the rst year. Successful managers try to discover unmet needs and meet those needs better than the competition. When there is an alternative that meets our needs better, we will go to that product no matter the advertising/marketing for that product. More successful in advertising if we link the needs of the consumer to the needs of the product. Many markets are stick in the sales era and believe they can create needs. Because companies create products that don"t satisfy consumer needs. Because they fail to e ectively communicate how products can meet consumer needs.

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