mp week one - Welcome to Marketing Principles About the...

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MKTG1001: Semester 1 Welcome to Marketing Principles A bou t the U nit Introduction to M arketing C ustom er S atisfaction er R elationsh ip s
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MKTG1001: Semester 1 A Marketing Case Study
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MKTG1001: Semester 1 The New Coke “Disaster” In the early-mid 1980’s, Coca-cola in the USA made the biggest “marketing blunder” of all time. Who knows what happened???
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MKTG1001: Semester 1 Coca-cola’s executives were very pleased with their decision. They believed that this new product was the future of the company. Coke is generally considered to be the most valuable brand in the world. WHY ???
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MKTG1001: Semester 1 Significant Competitive Challenge from Pepsi Choice of a new generation Pepsi taste-tests Pepsi out-sell Coke in supermarkets Michael Jackson
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MKTG1001: Semester 1 What to do? How to defend? M o re adv ertising ? Use celebrities? Better trade and supermarket deals? re u tle ts? D iscounts and sales prom otions? A better-tasting Coke? Competitor chasing up – as they taste better and are more modern/today
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MKTG1001: Semester 1 Why this made so much sense? Stop taste-test advertising Own taste-tests – win back lost customers Be seen as modern, new, Box Pepsi into a corner – by ‘destroying’ their competitive strategy Marketing success is often about innovation and meeting changing consumer needs
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MKTG1001: Semester 1 Coke’s Campaign U se of h igh profile celeb rities se of a look-alike pop group It’s N E W (m od ern, you ng) It tastes better O verall = good strategy + cam paign
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MKTG1001: Semester 1 So what should Pepsi do? Attacked Coke’s decision Tapped into discontent with Coke Broadened target market – all ages
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MKTG1001: Semester 1 What happened? News attention Consumer protests Lobby groups Black market A song Damage to brand Product eventually re-introduced
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MKTG1001: Semester 1 Key Lessons Need to understand the market Need to understand what you’re selling (benefits) Different success factors in different industries Balance art/science skills Key part of success is brand equity
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MKTG1001: Semester 1 About MKTG1001 and its assessment
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MKTG1001: Semester 1 Lecturers and Tutors Lecturer: Geoff Fripp Email: g.fripp@econ.usyd.edu.au Room 508 – Monday 11.30am-1.30pm Senior Tutor: Jeffrey Lim Email: j.lim@econ.usyd.edu.au Room 502 Tutors: Kerem Omer Robyn Martin Tessa Plen Nicholas Ridis Megan Twibill
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MKTG1001: Semester 1 About the lecturer 25 years in marketing
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mp week one - Welcome to Marketing Principles About the...

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