Ch-06-2008 March revision-15

Ch-06-2008 March revision-15 - Managing in Complex...

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Managing in Complex Environments  1 Robert S. Atkin Katz Graduate School of Business University of Pittsburgh Pittsburgh, PA  15260 atkin@katz.pitt.edu Chapter 6 Linking producers and customers: Issues of promotion and channel  mix” Revised, March 2008 © 2008 Robert S. Atkin 1. Written by the author for use in the course BUSSPP0020 “Managing in Complex Environments” at the  University of Pittsburgh.   Use for other purposes or by other instructors without the author’s written  permission is prohibited under copyright laws. © 2008 Robert S. Atkin Page 160
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© 2008 Robert S. Atkin Page 161
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Lecture Notes 6:                  Linking producers and customers:      Issues of       promotion and channel mix       “Where’s the beef?”  1 I. Teaser A. We’ve now developed the basics of products, segments, and price.  Now we  turn to establishing the link between the product and the customer. B. You’re a freshman and its time for a new laptop.  How do you figure what’s  available and what is best for you?  When asked, students last year said: 1. huh? 2. ask around 3. check the web 4. whatever is obviously cheapest C. More generally, how do you actually learn about products, manufacturers, and  vendors?  And how does the stuff actually get from producer to retailer to you? 1. To the first question, many of you may say word-of-mouth or advertising or  TV commercials or banner ads.  All of these all important, of course, but is  that it? 2. To the second, most probably say “I don’t know…trucks?”  Again, a small  part of the answer. D. Effective and efficient promotion and distribution are the hallmarks of a  productive modern economy.  Promotion you know about, as each of us has  something to say about how we learn about products, producers, and retailers.  Distribution, on the other hand, is less obvious.  We now turn to a discussion of  both. © 2008 Robert S. Atkin Page 162
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© 2008 Robert S. Atkin Page 163
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II. Review of marketing concepts to this point. A. So far, we have developed the following ideas. 1. In perfect competition, producers have little or no control over pricing and  hence, little or no control over profits.  2. Hence, producers have significant incentives to be innovative to gain some  level of control over pricing and profits.   3. This produces four possible strategies, each with economic costs, potential  benefits, and significant risk.  Please see Table 6 – 1. Table 6 – 1
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This note was uploaded on 06/25/2008 for the course BUSSPP MCE taught by Professor Atkins during the Spring '08 term at Pittsburgh.

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Ch-06-2008 March revision-15 - Managing in Complex...

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