Transcript Week 1 – January 12, 2004

FM20611 – Marketing II
Week 1 – January 12, 2004
Basic Principles of Marketing
(Review of Marketing I)
Let’s see your schedules!
Demographics
• Specific data such as:
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Age
Gender
Race
Level of Education
Income
Marital status
• What can you do with this data?
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Psychographics
• Emotional, stylistic, opinions
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Activities (hobbies, sports, etc.)
Price consciousness
Lifestyles
Patterns of usage (how much/how often do you
buy?)
• What can you do with this data?
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Time/Place Utility
• Time Utility– time value added
– Saving time
– Time of day
– Examples
• Convenience stores
• Online Best Buy
• Place Utility – location value added
– Examples
• Wawa store in every neighborhood
• Ikea, malls
– Off major highways
– Off-street parking
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Family branding
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A family of products is created
Enhances each product
Reduces introduction issues
Examples
– Fisher price, Baby Gear
– Kleenex
– Coke, Minute Maid
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Supply Chain
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Raw Ingredients/Parts
Manufacturer
Distributor/Wholesaler
Retailer
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Buyer’s market vs. seller’s market
• Buyer’s Market
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Commodity Item
In (virtually) unlimited supply
Who works harder – the buyer or the seller?
Examples?
• Seller’s Market
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Specialized Item
Limited supply
Who works harder – the buyer or the seller?
Examples
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Market Dynamics – What can change?
• Demographics – always changing
– Levi-Strauss has taken a nose-dive
• Didn’t change 501 sizes for changing population
– Other examples?
• Competition – always changing
– Direct
– Indirect (anywhere else the money can be spent)
• You go to South St to buy leather boots
• See 35% off all CDs at Tower on the way
• Do you leave Tower with enough money to buy boots?
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Market Dynamics – What can change? II
• Economy
– Business cycle
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Expansion
Prosperity
Recession
Depression
Effect on supply chain – how things are marketed
– Inflation
• Wages and prices go up
• Order doesn’t matter
• Simultaneous is worst
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Market Dynamics – What can change?
III
• Weather/Season
– Season is man-made
• Holidays
– Weather is very unpredictable
• When buy winter clothes
• Can all change at the same time – helps to
be lucky!
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Levels of Brand Loyalty
• Brand recognition
– Do you know the brand?
– Doesn’t mean you like it!
• Brand preference
– Tastykake: vending machine is out - what do you do?
– Emphasizes distribution
• Product must be available or lose the sale
• Must make deliveries more often
• Brand insistence
– Easier with Internet
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Family/Product Life Cycles
• Used to be
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– Young married
– Married with children
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Single
Young couples
Family with kids
Empty Nest – new attention
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Market Segmentation/Positioning
• Soup: Campbell’s vs. Progresso
– What are segments in the soup market?
– How are these products positioned?
• Coke vs. Pepsi
– Segments?
– Positioning?
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Instructor
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Instructor: Max Minkoff
Teaching style: Interactive!
How to contact me: [email protected]
Other availability: Immediately after class
Website: ?
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Content
• Teaching Strategies
– Interactive Class Discussion
– PowerPoint w/printed notes
• Textbook: None – use your notes!!
• Team Project: After Midterm
• Technology Needed:
– Word
– PowerPoint
– Anything else to make a quality presentation
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Evaluation
• Grading
– 40%: Class Participation (including
attendance)
– 15%: Midterm Exam
– 25%: Final Exam
– 20%: Team Project
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Attendance Policy
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Two absences = one full grade drop
A third absence = an additional grade drop
Four absences = Failure
NOTE:
– There are NO excused absences.
– 2 lates and/or early departures = 1 absence.
I WILL FAIL YOU IF I HAVE TO!
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Schedule
Week # Date
1
Jan 12
2
Jan 19
3
Jan 26
4
5
6
Feb 2
Feb 9
Feb 16
7
Feb 23
8
Mar 1
9
Mar 8
10
11
Mar 15
Mar 22
January 12, 2004
Topic
Basic Principles of Marketing (review from Marketing I)
NO CLASS - Dr. Martin Luther King's Birthday
Why People Buy
Basics of Market Research
NO CLASS
Midterm Examination
Product Life-Cycle
Situational Analysis
Direct & Online Marketing
A Career in Marketing
Trade Show/Expo Selling
Team Project preparation
Public Relations
Team Project preparation
Team Project Presentations
Final Examination
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Next Class
• NO CLASS NEXT WEEK, Jan 19th!
• Jan 26:
– Consumer Behavior: Why People Buy
– Market Research
– LET’S NOT LOSE CONTINUITY!
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See you in two weeks!
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