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Lecture 7 - Gatton College of Business and Economics
Lecture 7 - Gatton College of Business and Economics

Imperfect competition
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effective executive decision making with marketing decision support
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... its brand values. • Advertising on TV, on billboards, in magazines and in other media outlets reaches large audiences and spreads the brand image and the message very effectively. • Stores have special offers, promotions and point of sale posters to attract those inside the stores to buy. • Vodafone ...
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... Customer Satisfaction: Dependent on the product’s perceived performance relative to a buyer’s expectations. If performance (P) is lower If performance (P) is higher than expectations (E), than expectations (E), satisfaction is low. satisfaction is high. E=10 > P=8 E=10 < P=12 ...
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... Harvard Business study found that 85% of 30,000 new product launches failed because of poor market segmentation. With each level of narrowing your focus, you exclude other potential customers from marketing efforts. ...
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... Establish a strategic approach to social media content that aligns with brands' marketing plans; Maintain and coordinate with digital agency on brands content marketing calendars including brand, product and promotional messages. Create and maintain product content for selling SKUs on e-Commerce pla ...
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... Monitoring the success of marketing and promotional activities All businesses need to evaluate their marketing goals and strategies in order to grow and become ahead of their competitors. This monitoring can take place by; •Monitoring of the marketing activities conducted over the past year. •Askin ...
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... process in which marketers get to know everything they can about the needs and wants of consumers, and it ends when somebody buys something. Many companies feel that services provided to customers after the purchase also are an important part of marketing. All of these enterprises -- production, adv ...
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... SWOT Analysis • SWOT – Strengths, Weaknesses, Opportunities, Threats – A company’s planning efforts begin with a critical look at itself and its business environment, or the market in which it operates. – This assessment lists and analyzes the company’s strengths and weaknesses. – Includes the oppo ...
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... Can we offer a product/ service that the customer would value?  Can we communicate with our customers?  Can we deliver a competitive product of service? ...
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... process in which marketers get to know everything they can about the needs and wants of consumers, and it ends when somebody buys something. Many companies feel that services provided to customers after the purchase also are an important part of marketing. All of these enterprises -- production, adv ...
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... – A plan that will enable an organization to make the best use of its resources and advantages to meet its objectives – Consists of • The selection and analysis of a target market • The creation and maintenance of an appropriate marketing mix (a combination of product, price, distribution, and promo ...
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... competitors are price takers, and must now accept a lower price. Supernormal profits are eventually eliminated. If a perfectly competitive market is product subnormal profits, the reverse situation occurs. Market supply decreases as firms who are unable to compete leave the market as there is no bar ...
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... Supermarkets sometimes sell bread as a loss leader to bring customers into the store.  luxury n [C] something that is expensive and not really necessary, but pleasing and enjoyable: [lusso] The store sells luxury goods such as perfume.  promote v [T] to try hard to improve sales of a product by a ...
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... introduced, sales begin to level off because customers are purchasing the competitors brand. What strategy would be most appropiate to use in this situation? A. Take the product off the market B. Do nothing, fluctuations in sales are common C. Modify the product to renew customer intrest ...
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... executes a product’s positioning, launch, go to market, promotion and evolution within a specific region. Supporting the development of new products by contributing market requirements. Key Accountabilities & Responsibilities To support the commercial objectives of the business, Product Marketing Ma ...
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Market penetration

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