09 - Marketing Mix - problem with generic/name-brand drugs...

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CHAPTER 9 MARKETING MIX
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MARKETING MIX Target Market(s) Product/Service Strategy Distribution Strategy Pricing Strategy Promotion Strategy
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NOTES Pretest the target market(s), even though its difficult to define some target markets. Product/services: develop new products (costly, risky, etc.) Life cycle- four stages: 1 st intro; 2 nd growth; 3 rd mature (most products); 4 th decline (need to eliminate unsuccessful products) Pricing strategies: demand oriented; cost oriented; competition oriented Incremental pricing (=Rev-variable costs): elastic or inelastic demand; fixed/ variable cost
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MARKETING MIX STRATEGIES Girl Scout Cookies College Text Books goals of the retailer and the manufacturer not aligned; similar
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Unformatted text preview: problem with generic/name-brand drugs 10years ago: only two choices-new or used; Today: Accounting books $250 Into to Biology- cheaper in India Lemonade Stands Set them up to study business GIRL SCOUT COOKIES What’s new? The marketing process Target Market Everybody Product Strategy Eight different cookies: contract manufacturing; buy high volume Distribution Strategy Shipping: contract; delivered to GS’s, no storage (no cost) Promotion Strategy Advertising: word of mouth; seek publicity (no cost) Pricing Strategy $3.50/box; priced higher, large margins...
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