mkt 100

Tim Hortons opens new stores in Mexico. This is an example of what?

market development

Ryerson University begins offering live online streaming interactive undergraduate courses. This is an example of what?

market development

Nintendo develops a new smart phone. This is an example of what?

diversification

TELUS starts its own Canadian bank. This is an example of what?

diversification

Rogers Wireless offers a deal on bigger data plans for its wireless customers. This is an example of what?

market penetration

Cadbury India pushes for chocolates to be used as small gifts instead of the more traditional sweets given during the Diwali festival. This is an example of what?

market penetration

KFC introduced salads to its menu. This is an example of what?

product development

Sony starts producing games for both its Playstation 4 and the Nintendo Wii U. This is an example of what?

product development

The number of Canadians taking extended vacations, the number two leisure activity among survey respondents, decreased by 29% from 2008 when the recession began to 2012. This is an example of the impact of what environmental factor?

economic

Tim Hortons "Roll up to Win campaign is happening over the next three weeks. At the same time, McDonald's is having a free coffee promotion at its locations. This is an example of what microenvironment element.

competitor

Opportunities and Threats are

external

Business to Business buying differs from Business to Consumer buying in what way?

Business products generally have greater customization

Strengths and Weaknesses

internal

Intentionally choosing NOT TO PURCHASE products from Starbucks is an example of a

response to a decoded message

You are on the Ryerson University and Archives online and click on a journal that may be relevant to a research project you are doing. The Scholars Portal crashes and the site appears to be facing technical difficulties, thus preventing you from going to that journal link. This is an example of what?

Noise

If a book publisher wants to sell the latest novel from J.K Rowling through its own website to consumers, then this would be what type of distribution?

Direct Distribution

If a book publisher wants to sell the latest novel from Dan Brown through Amazon to consumers, then this would be what type of distribution?

Indirect Distribution

Print Magazines are a form of

communication channel

The Microsoft Word startup chime is an example of

encoding from one party to another

Barry tends to be skeptical when it comes to new products such as driverLESS cars . He doesnt trust mass media/salespeople. He will ONLY adopt a product when most people have already purchased it. Barry is part of what group when it comes to consumer adoption?

Laggards

Andrew is really important to marketers. He has the capacity to influence others in the choices they make, is respected by others for his knowledge and is seen by others to be a credible source of information. Andrew is part of WHAT GROUP when it comes to consumer adoption?

Early adopters

Arnold is never the first to try new products, but he does try them before the average person. He looks at mass media and those with more knowledge as sources of information. Arnold is part of what group when it comes to consumer adoption?

Early majority

Cognitive Dissonance

buyers remorse

In addition to its currently running TV and print advertisements, Proctoer & Gamble have been sending coupons for its Dawn dishwashing liquid to households. This is an example of what type of Strategy?

Pull Strategy

Marketing

creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners, and society at large

4 key Consumer markets

GLOBAL, CONSUMER, BUSINESS, GOVERNMENT

Types of marketing environments (6)

DEMOGRAPHIC, POLITICAL-LEGAL, TECHNOLOGICAL, NATURAL ENVIRONMENT, ECONOMIC, SOCIO-CULTURAL

example of a B2B business

wholesaling! Costco

example of a B2C business

all retailing businesses! Forever 21

example of a C2C business

kijiji, ebay, amazon

4 Eras (How marketing creates value)

PRODUCTION-ORIENTED (good will sell itself),

SALES ORIENTED (answers overproduction by focusing on sales)

MARKET ORIENTED (what customers want)

VALUE BASED (giving greater value than the competition)

Value

• reflects the relationship of benefits to costs

Customer Relationship Management (CRM)

targeting the most VALUED customers

meets their needs

how to retain them??

(ex. loyalty programs)

The Marketing Environment

external forces that affect the ability of the marketing manager to build a successful relationship with the target customers.

Competitive Intellegence

collect info and distributing intelligence about products, customers, competitors, etc

Corperate Partners

firms that are apart of an ALLIANCE

Just in time Delivery Systems

CREST Model

Competitive

Regulatory

Economic

Social

Technological

3 ECONOMIC factors affecting CONSUMER PURCHASE BEHAVIOUR

consumer income/ purchasing power

inflation

Recession

Discretionary Income

Disposable income available for spending and saving after an individual has purchased the basic necessities of food, clothing, and shelter

Generation Z

cell phone ownership

fastest growing segment

Generation Y

respect for ethnic and cultural diversity

milennials

Generation X

smaller generation

economic hardships growing up

Baby Boom Generation

massive group of consumers

believe in youth

Green Consumers

support sustainable businesses

buying behaviour is based on issues beyond the tangible product

Time Poor Security

most parents have to work

multi tasking

Social Responsibility

the obligation of a business to contribute to society

Needs

cannot live without

Wants

additional and luxury products

Positioning

developing a specific marketing mix to influence potential customers' overall perception of a brand, product line, or organization in general

segmentation

the process of dividing a larger market into smaller pieces based on one or more meaningfully shared characteristics

Marketing Channels

a set of interdependent organizations that ease the transfer of ownership as products move from producer to business user or consumer

Price

List price

discounts

bundling

credit terms

place

channel

inventory