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MAR 4715 Chapter 2 stu - The People Power and Players The...

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Unformatted text preview: The People, Power, and Players The Chapter 2 Nicole Howatt What Does it Take? What Where to market the product? To whom? The price The package The position When Product Life Cycle – The 3 P’s The People – Everyone involved in marketing - from the idea Everyone generation to the final finished product to the merchandising and spin-offs merchandising Power – Financial Funds needed to run the business, produce Funds the product, etc… the – Social Players – The People with the Power The People Power Decisions Decisions Large – Decisions made by CEO (or similar figure) with advice Decisions from advisors from Small – Recurring and consistent decisions, normally made by Recurring marketing team with approval of executive marketing No – Costs skyrocketing, finished product has a serious delay, Costs etc… and no one wants to make a decision – Not a good sign if decisions aren’t able to be made Relying on Research Relying Limited time to gather and analyze Limited information information Technology has allowed for more continuous Technology collection and easier “on the spot” collection collection – Ability to pursue more niche marketing Tailoring The Team and the Outside Agency Outside President of Licensing Merchandising Entertainment Attorney Talent Agent Financial Officer Outside Agency – – – – McCann DDB Worldwide Grey Advertising Young & Rubicam Making the Deal and Getting it done Making Requires social capital – Within and outside the organization With such a limited time frame, knowing who With who and how is vital to the “right” type of how promotion promotion Concerns for consistency and reaching the Concerns intended target market intended ...
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