Lecture 10 Marketing - Marketing Chapter 12 (All), 13 (ALL)...

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Marketing Chapter 12 (All), 13 (ALL) & 14 (432-440)
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Mid Term Bring Calculators! Lecture Six, Business Essentials 3 (nothing from Chapter 5 as we did not cover it in class) Lecture Eight, BE 8 (ALL) Lecture Nine, BE 11 Pages 327-345 only Memorize Accounting Ratios or you will be in trouble! Despite what you may have heard from your peers, all classes are being held on Nov 13. see: http://www.smu.ca/registrar/
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Course Evaluations November 22 nd , 2006 www.ratemyprofessor.com if you want to provide more timely feedback.
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Marketing “Planning and executing the conception, pricing, promotion, and distribution of ideas, goods and services to create exchanges that satisfy individual and organizational objectives.” (pg. 309) What Product? Who are we trying to sell it to? What is the best way to distribute the product? At what price? How do we best promote the product?
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Marketing Consumer Goods Clothes Food Electronics Automobiles Appliances Industrial Goods Machinery Semi-conductors Fasteners Ball bearings Microprocessors Consumer Marketing Industrial Marketing Service Marketing Brokers Consultants Interior Decorators Ideas can also be marketed – consider Political Parties, Religions, Special Interest Groups, Charities, etc.
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The 4 Ps (P’ing on the Customers) Product A good, service or an idea. Pricing The overall pricing strategy for the product / brand Promotion Determining how to effectively communicate with customers for the purposes of selling the product to them. Place The delivery / distribution channel. The Marketing Mix
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Marketing Mix The elements of the marketing mix do not operate in isolation from one another. Every decision must be made in regard to the Target Market.
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Price Pricing decisions are made based upon: Profit-Maximization (Hi P – Low V vs. Lo P – High V) – Break Even Analysis » BEV = Total Fixed Cost/Price-Variable Costs – Cost Plus Pricing » Markup % = Markup / Sales Price Strategy – Skimming (low vol – high prof / unit) vs. Penetration (high vol – low prof / unit) Distribution Channel Target Markets Competitive Factors
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Promotion Traditional Promotional Techniques Mass Media – TV, Newspapers, Direct Mail, Radio, Bill Boards, Coupons, Product Personal Selling – door to door, a lot of B2B sales In-Store Promo – POP, End-Caps, Shelf Positioning (plan-o-gram), Signage, etc.
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Lecture 10 Marketing - Marketing Chapter 12 (All), 13 (ALL)...

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