Essay on Buad479 Semester Notes

Submitted By schenkel0209
Words: 3663
Pages: 15

Buad441

February 5

February 7

February 12
Higher the CPI, higher inflation—lower CPI is better
As CPI goes up, customers cut back on spending – so P and G revenues are lower, won’t have enough money to invest in Sensa aircraft – effects Sensa
Could end up with Sensa laying people off

* marketers need to keep track of key things like this * trends * collaborators in marketing * extension of the supply cahin * upstream – relationships with all companies driving the manufacturing of the products and services * facilitate manufacturing process * advertising agencies you work with to build campaigns * * downstream – * how do you get those products to consumers * wholesale distributors * retailers * between YOU and the CONSUMER * EXAMPLE * Earthquake in Taiwan * 95% of RAM manuf. In Taiwan * ruined overnight * leaves Apple, Dell, etc… scrambling to find RAM * price of RAM shot over 200% * every comp price went up 200% * lost many collaborators * SO.. must be prepared and have other collaborator in place * Work with 2 or 3 upstream suppliers to be safe * Don’t want to be dependent on collaborators * Coca-cola in India * Couldn’t have pulled out of India without strong analysis of situation (context) * Marketing analysis is marketing diagnostics * Just like doctor * Challenge: what pieces of information are relevant? * Marketing analytics covers all of the 5 C’s * LOOK UP LAUNCH OF IPOD IN WALSTREET JOURNAL late October 2001 * Youtube: knowledge navigator * Video about concept of a computer acting as personal assistant * Key Principles in Marketing * Products are BOUGHT not SOLD * THINK as the consumer-satisfy their needs and create value * Don’t think just as marketer * Translate needs into a service with value * Different strokes for different folks * Find target market with greatest potential for retention * Have a strategy * Cant wing it * Need analysis to determine target market/industry/etc… * What do I want my positioning to be? * Use the 4 P’s to organize marketing operations * The numbers have to work * Markets change * The only thing constant about markets is change * Always changing on a day to day to basis * Keep marketing programs legal and ethical * General Framework for Solving Marketing Problems * GOOD STRUCTURE BUT NOT STRICT FORMULA * Useful for answering this question: * “what should the company/organization do now?” * Task 1: What’s going on? * Conduct marketing analysis to turn data on symptoms into useful diagnosis/information * Goal of analysis is diagnosis * Analysis determines objectives too * Task 2: What should our goals/objectives be? * Determine what needs to be accomplished * Task 3: What is our strategy? * Figure out segmentation, target market(s), positioning * Formulate marketing mix * Task 4: How are we going to do it? * Develop an implementation plan * Task 5: What will happen? * Estimate likely costs and benefits (ROI) * UP TO SLIDE 9! * *******CLIENT BRIEFING TUESDAY FEB 19 (eff.y.bee)
February 14 * Consumer Behavior * The key to achieving organizational goals consists of determining the needs and wants of target markets and delivering the desired satisfactions more effectively and efficiently than competitors. * Buyer analysis is the first step in developing a marketing program * Consumer Behavior is the study of…