Marketing Midterm Prep Notes.docx

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Department
Management and Organizational Studies
Course
Management and Organizational Studies 2320A/B
Professor
Gail Leizerovici
Semester
Fall

Description
Marketing Lecture 1, 12-09-2013 Social science building 4419. [email protected] The exam will be an applied exam. Exam question short answer convenience, shopping, specialty, unsought. A car is a shopping good unless you get something exclusive →then it is a specialty good. A Rolex is a specialty good, because it is exclusive. For distribution an exclusive, expensive shopping mall. Order it at a specialty jewelry store, so in London you could not buy it you maybe should go Toronto. In London they would have the cheaper Rolexes but the more expensive one they probably will not have. Targeting could be done by past Rolex owners → by warrantee and e-mails. Or target more exclusive districts like oxford street London England. Target formula 1, big tennis tournaments. FOR THE EXAM, YOU SHOULD NOT FORGET THE MIDTERM, BUT THE MAIN FOCUS IS ON THE FINAL CHAPTERS!!! Real lecture. Apple always talks about the benefit of the product they have instead of talking about the technological stuff. Exchange: time and money play a role. With non profit the feeling can play a role as well. Product: Goods & services & ideas (advertisement about a women's head coming thru the mirror to scare people to not drink and drive). Place: place can influence shops. For example cannon online is pretty famous, on the street corner of London not many people see it. Trends: Online internet is affected by advertising, sales promotion, personal selling, direct, public relations Marketing by: business to consumer, business to business, consumer to consumer (kijiji) Business to business → bigger market, but you also need to manage it. Marketing occurs: entire industries, for example burgers and cheese. Wall mart does not has a good brand image and its more production. Target is more pr related. Positioning statement is different from a slogan. Lecture 2, chapter 2 19-09-2013 BCG matrix = Boston Consultant Group Lecture 3, chapter 3 and 4 26-09-2013 Micro environment, the company: top management, finance, R&D, Purchasing, Operations, Accounting, HR. Resellers, Physical distribution firms, marketing services agencies and financial intermediaries. Competitive intelligence: where could you collect this? THIS IS IMPORTANT NOT IN THE SLIDES. Slide 12: culture: In Canada we believe in cultural diversity (as opposed to assimilation), respect for human rights, democracy, stability of government... You cannot overcome the core ones, maybe the secondary ones. Slide 13: Demographics: a measurable, quantifiable criteria for studying the human population. Three big groups: baby boomers, Generation X, Generation Y Income - middle class squeeze Education - relates to income Gender - more women in the workplace Marriage - less often Marriage - later on Marriage - less kids (sometimes zero) Countries vary in ethnicity: some are quite homogeneous - Canada & US are giant mixing bowls. How about disabled and how about other demographics. Social trends: health & wellness, privacy concerns, frugal consumers and the environment. Technology: THIS ONE IS HUGE Economic factors: economic climate, interest rates, foreign exchange and consumer confidence. Political Regulatory, Legal Other acronyms of CDSTEP (macroeconomic) IS PEST OR DEPEST Lecture 4, chapter 4 and 7 03-10-2013 Exploratory/observational research: It depends where you walk, on which kind of the street you sit. Observations, in depth interview, focus group and projective technique Conclusive research... can be: descriptive, experimental Trend: online surveying: Response rates are relatively high Respondents may lie less It is inexpensive Results are processed and received quickly Chapter 7. Market segmentation Geographic: divides the market into different geographic units. Location, cultural, political/legal, economic. BRIC, Brazil, Russia, India, China, Whats the next Layer segmentation Lecture 5, chapter 5 10-10-2013 Consumer behavior: use principles and theor Phychological factors: attitudes Cognitive aspect reflects what we believe to be true Affective component involves what we feel about the issue at hand Behavioral component compromises the actions we undertake with regard to the issue
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