mkt300 Final studyguide - Sales and Profits I ntroduction...

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Unformatted text preview: Sales and Profits I ntroduction Growth Matur ity Decline Time Profit Sales Ego-involved Choice (hear t loyalty) Utilitar ian Choice (head loyalty) Low I nvolvement (hand loyalty) I ncreasingly wor r ied about product embar rassing you Loss of health, safety, convenience Search Exper ience Credence Do-lear n-(feel) Lear n-do-feel Feel-do-lear n Number of ideas Cumulative time Business Analysis Screening Development Testing Commercialization Successful new product Credence attr ibutes Search attr ibut es Exper ience attr ibutes Easy to evaluate Difficult to evaluate Most Goods Most Ser vices Standard (ex: oil changes, Xrays) Custom Backst age Front Office Mechanize/automate standardize cust omize dramatize Ex: subway, hibachi, bar tending Progression t o the Mean Actual Actual Perceived Actual Perceived Actual Minimum Expect ed Desired ZOT High Quality Low Effectiveness Frequency Option 1: increase share of sur plus by raising pr ice Option 2: lower var iable cost Option 3: increase perceived value and thus willingness t o pay Var iable cost Pr ice paid Perceived value Tr ue value Producer sur plus Consumer sur plus Unrealized sur plus Unrealized sur plus Consumer sur plus Producer sur plus Tr ue value Perceived value Pr ice paid Var iable cost Unrealized sur plus Consumer sur plus Producer sur plus Tr ue value Perceived value Pr ice paid Var iable cost I ncreased Competition Decrease in Demand Loss of cust omers I ncrease costs I ncrease pr ice Unrealized sur plus Consumer sur plus Producer sur plus Tr ue value Perceived value Pr ice paid Var iable cost Pr icing duct differentiation, marketing, sales mulat e Demand tation var iable: not pr ice-relat edset pr ice based on consumer perceived value tive Pr icing ciency eal Share tation var iable: may be pr ice-relat edset pr ice based on pr ice of key competitor Packaging Manufacturer Mat er ials Manufacturer Product Manufacturer Wholesaler Retailer Consumer Upst ream (away from consumer) Downstream (t oward consumer) Direct (shor t) I ndirect (long) Number of I nter mediar ies Exclusiveer-intellectualize t oo muchr ue t o your roots- you can', Apply Take the Red Pill: leading, not following--playing girls; Ax Mass Number of Outlets Ex: Coke I nt ensive Ex: Ed Hardy Selective for ward backward integrationer-int ellectualize too muchr ue t o your roots ', Apply Red Pill: leading, not following--playing girls; Ax m for ward/backward int egration on r ican Apparel kist Marketing 300: Final Exam Review Market Research Pu rpose: reduce relevant uncertainty; can be done at all steps of the Big Picture Sources of Data: -Secondary: cheap and quick; collected by a third party and made available for sale or disseminated for public use- not customized- not proprietary- sources include: internal company documents, government publications, academic journals, market research firms (e.g., Nielsen, information resources)- main challenge: identifying data that exactly answers our specific research question...
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This note was uploaded on 02/13/2011 for the course MARKETING 300 taught by Professor Fiet during the Fall '08 term at University of Michigan.

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mkt300 Final studyguide - Sales and Profits I ntroduction...

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