“put the right product in the right place, at the right price, at the right time.” in...
TRANSCRIPT
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“Put the right product in the right place, at the right price, at the right time.”
In marketing, revolves around the ‘4 Ps’ and the ‘2 Cs’.◦ Each ‘P’ and ‘C’ must be considered
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Source: www.youtube.com/watch?v=ciSrNc1v17M&feature=fvw
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1. Did you identify with any of the issues presented in the video? If so, which ones?
2. What present-day marketing ‘challenges’ could you identify in the video?
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An organization will use
1.Name
2.Phrase
3.Design
4.Symbol
Either one of, or a combination of, these things will distinguish products from those of competitors
Create product image
Consumers will more easily identify the product or service
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1. “Maybe she’s born with it ...”2. “Just do it”3. “They’re Grrrrrrrrreat”4. “It keeps going, and going, and going …”5. “Good to the last drop”6. “Like a rock”
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What brands do we have on/with us in this classroom?
Why do we buy brands? Are brands better than non brands? How do marketers convince us that brands
are better than non brands?
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Human characteristics associated with a brand
When consumers assign personality traits to products, they then tend to buy the products that are consistent with their own/desired image.
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The added value that a brand name gives to a product beyond functional benefit
◦ Provides competitive advantage◦ Consumers are often willing to pay a higher price
– a premium for one brand over another
Resides in the minds of consumers, developed over time from what they’ve learned, felt, seen, and heard about a brand.
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IBM Microsoft Visa Coca-ColaMcDonald’s Google AT&T MarlboroApple China Mobile
Rank Brand Brand Value ($m)
1 $185.1
2 $113.6
3 $112.5
4 $90.5
5 $78.4
6 $75.5
7 $69.9
8 $69.3
9 $56
10 $55.3
Apple
IBM
McDonald’s
Coca-Cola
AT&T
Microsoft
Marlboro
Visa
China Mobile
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Students must choose which product they will sell in summer of 2014. Write a story of how you will choose the target market, 4Ps and 2 Cs as you
plan for your summer business.
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