Session 26 - Marketing Management Qiang Liu Review Session 1 Marketing game The last run is due at 11:59PM on 04/21 Wednesday Do NOT Forget it I

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1 Review Session Marketing Management Qiang Liu
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Marketing game The last run is due at 11:59PM on 04/21, Wednesday. Do NOT Forget it! I will notify you via email about total profit result by noon on 04/22, Thursday. Make-up presentation, next Monday and Wednesday, no more than 10 minutes, including Q&A What do you need to cover? 3 Cs STP Marketing mix (4Ps) Explanation of outcome What have you learned from playing the game?
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Final Exam and the Final grade The final exam covers sessions 14-29, it is at LILY 1105, from 8:00 AM-10:00AM on May 07, Friday. You can print, handwrite, or copy on cheat sheet (A4, one sided, 1 page) But, one again, no magnifier to the exam! The final grade is straight A,B,C, D, and F Follow a hybrid strategy for the final grade: A: top 40-45% of the class, depending on the performance of the final exam B: the next 30% of the class C: the remaining class who gets total score of 65 and more. D: students who get total score of 60-64. F: students who get total score of less than 60. 50 multiple choice questions
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4 Integrated framework for marketing strategy Sustainable Competitive Advantage Product Price Promotion Place Appraise the Situation What business are we really in? What is the overarching problem? Propose a Strategy What is the key to success for this business? Propose Tactics to Implement the Strategy How do the tactics deliver value to the target market? Competition Company Customer Vulnerabilities Competencies & Costs Unmet needs S – T – P
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5 Maintain brand loyalty Marketing objective Gain Awareness Stress differentiation Harvesting, deletion Competition None Growing Many Reduced Product One More versions Full product line Best sellers Price Skimming or penetration Gain share, deal Defend share, profit Stay profitable Promotion Inform, educate Stress competitive differences Reminder oriented Minimal promotion Place (distribution) Limited More outlets Maximum outlets Fewer outlets Stage of the product life cycle Sales revenue or profit Introduction Growth Maturity Decline + 0 Total industry sales revenue Total industry profit The Product Life Cycle (PLC)
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6 The Chasm in Discontinuous Innovation Diffusion Skeptics: Gadflies, ever-present critics, sell around them Visionaries: Revolutionaries, leaders, exploiters, bring real money, & publicity Conservatives: Pessimists, demanding, price sensitive, prefer commoditization Technology Enthusiasts: Committed, explorers, no money, influence, gatekeepers Pragmatists: Evolutionaries, need references, tough to change, prefer leaders Innovators 2.5% Early adopters 13.5% Early majority 34% Late majority 34% Laggards 16% How can we cross the Chasm?
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Session 26 - Marketing Management Qiang Liu Review Session 1 Marketing game The last run is due at 11:59PM on 04/21 Wednesday Do NOT Forget it I

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