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AGEC 242 (10)
Chapter 11

Chapter 11

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McGill University
Agricultural Economics
AGEC 242
Brahm Canzer

Marketing - Target Customer o Identity: who are you trying to sell to? Describe those people as best you can? Are they male, female? Under 60, over 60? Linguistically? Heavy users or light users of what we’re selling  Eg: lululemon: serious gym/yoga enthusiast. 95% female. For people who goes to gym all the time (since expensive for gym clothes)  Can’t get lululemon anywhere except at the store  you get to control price if only selling at your store. - Product strategies - Pricing - Place Distribution - Promotion o Publicity: mass communication that’s not paid for.  XL food company, terrible publicity. Nobody paid to have that  Him talking about all the tv shows, that’s publicity  Word of mouth! (what fb is about)  Esp for movies, fashion, lifestyle oriented (people interested in that) o Advertisement: mass communication that’s paid for. o Face-to-Face personal selling: someone comes into store and you serve customer  Advantage  Disadvantage: cost of doing this  Recorded Internet Video: Once produced once, as long as it remains relevant, and remains in style (out of date) can distribute these inexpensively - Grade comes from creative ideas of what we’re going to communicate. Something someone hasn’t come up with before - Report: - Macro: How are you competitively better? How are you more productive in communicating to people and educating people
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