Intro to Marketing_Herzenstein_Date__022210

Intro to Marketing_Herzenstein_Date__022210 - Continue from...

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Unformatted text preview: Continue from Marketing Strategy slides Promotion- When promote a product you have four objectives 1. Awareness- for a new product (to know about product) 2. Persuasion- any product with competitors (to see your specific product) 3. Reminder- older products/products people don’t buy all the time (ex. Holiday decorations) 4. Educate- try to do something for the public good (ex. Alcohol- “drink responsibly”)- Use appropriate message/vehicle for getting your product out there Persuasion- Celebrity appeal works because people want to be just like celebrities Place-- marketing channels- Dow you sell directly to consumer or do you have an intermediary person>- Exclusive: doctor- Selective: in specific location- Intensive: everywhere: airline agency Profitability (a reality check)- Breakeven analysis: how much quantity we need to sell in order to cover our fixed costs (can make $ in the long run)- Cannibalization: current consumer will buy new product- Pro forma income statement: trying to predict the future to see if costs/prices make sense...
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This note was uploaded on 08/30/2010 for the course BUAD 301 taught by Professor Mcnutt during the Spring '08 term at University of Delaware.

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Intro to Marketing_Herzenstein_Date__022210 - Continue from...

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