Phil Kotler on Sales:
The successful salesperson cares first for the customer, second for the products.
McMurrys sales representative types:
Inside represenatative, Subway or Deli
Relationship between cost and price; relationship b/t target cost and price
3 Pricing Paradigms:
1. Cost-based pricing Cost + specified markup
What is the cost-plus delusion?
Cost-plus pricing will allow us to price pru
Top 3 of 5 Deadly Pricing Sins
Worship of premium pricing"
Creates a market for the competitor.
High profit margins maximum profits.
Charging "what the market will bear" (Price Skimming)
Also creates opportunity for competition.
New Market Entries
Relative volume of new-to-the-world vs. other types of new
Product life cycle how does marketing change during each stage?
Markets Evolve: Consider corded (as opposed to cordless) telephones.
Marketing is an ongoing process and must be
Steps in Marketing Research
Reliability v. Validity
Value Adding Roles of Intermediaries
Roles for the Intermediary
Finding customers, suppliers
Tailoring products and services
Flowing up a
Metrics are about understanding the market and most importantly where cash comes from
The Performance Measurement Process
Should all companies use the same set of metrics? If no, why?
Marketing Metrics are marker posts along the company
Case Analysis 1
One potential target market is the newlywed market. Young married couples are usually
given an assortment of house warming gifts to start off their new life and marriage.
Many times its from people they rarely talk to on a daily basis. Eve
Brand Associations, Identity, and Equity
the specific beliefs that consumers attach to the product.
composite of the brand associations and represents the meaning of the
value of the brand in t
Segmentation and Positioning
S effectively separate groups
T which segment do you target
P best way to communicate to them
Consumer Segmentation Variables:
Demographic: Sex, age, income, profession, etc
Geographic: region, size of the area, zip code