BADM 691 Dr. France Merck Case John Zuercher Main Points 1. Merck is in bad shape as a company with a falling stock price, Vioxx lawsuits, and many of its top-selling drugs scheduled to go off patent. Also the company recently replaced their CEO, who was
Understanding Consumer Behavior
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So, what do we know about consumers?
Consumer behavior: the mental and emotional
processes and the physical activities that people engage in when they select, p
Welcome to Marketing Management
WHAT IS MARKETING?
Definition: Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, par
Setting Product/Service Strategy
Distinguishing Characteristics of Services
INTANGIBLE Can not be tested by any of the five senses This makes it difficult for consumers to evaluate quality PERISHABLE can not be stockpiled This makes it difficult to deal w
Click to edit Master subtitle style and remind the consumer Attempts to inform, persuade
The Changing Environment
Harder and harder to reach the consumer via traditional mediums: Whats going on
Retailers are more powerful Fragment
SEGMENTATION, TARGETING &
To Segment or Not to Segment? Click to edit Master subtitle style
What does it mean to segment?
Divide the market into 2 or more groups that want different things from a product. Once customers are grouped into needsbased segment