[MCS 3030] - Final Exam Guide - Comprehensive Notes for the exam (114 pages long!)

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 3030
• Professor: Vinay Kanetkar

Document Summary

Situational analysis: assess the competitive position, de ne the business scope and market segments, establish competitive advantage. Strategy development: set performance objectives, market scope and key competitors. Marketing program development: product and channel decisions, communication decisions, pricing decisions, personal selling decisions, brand extensions, risk averting method, don"t spend as much money as you would when creating new brand. Steps in marketing research: establish need for information (market research, specify research objectives, determine sources of data, develop data collection tactics, design sample, gather data, process data, present research results. Challenges to marketing research: (don"t need to know) New challenges to traditional market research: technology may create smarter, more powerful customers, with online technology, any one can start marketing research business, ever evolving technology offer, ever evolving data collection tools, no standards for software. Each vendor offers different tools: time lag between invention and commercial innovation.