X hits on this document

211 views

0 shares

0 downloads

0 comments

7 / 44

Marketing Exam Study!

  • o

    Societal marketing

    • A principle of enlightened marketing that holds that a company should make marketing decisions by considering consumers’ wants, the company’s requirements, and society’s long run interest

    • Companies should turn everything they manufacture and market into such desirable, environmentally friendly products

Four Principles of Positioning Strategy

  • -

    Must establish position for firm or product in minds of customers

  • -

    Position should be distinctive, providing one simple, consistent message

  • -

    Position must set firm/product apart from competitors

  • -

    A company cannot be all things to all people- must focus its efforts

  • Jack Trout

Consumer concerns of Marketing

  • -

    High prices

    • o

      Consumers complain that high prices result from unnecessary and expensive advertising

      • o

        Argue that intermediaries do work that would otherwise had been done by manufactures, and they just get lots of money for helping

      • o

        Although brand name is more expensive than “no name”, brands are more reassuring. When we pay for a product, we don’t just buy the material costs, we put in the studies and all the time and effort it took to make it, i.e. research, advertising, etc.

  • -

    High-Pressure Selling

      • o

        When a sales associate is working on commission, consumers complain that marketers want the most money and it is not fair

      • o

        Information is power, consumers now know information before making large purchases, so now are not as fooled by the sales associates tricks

      • o

        Also consumers are protected from some high-pressure selling tactics

  • -

    Deceptive Practices

      • o

        Sometimes marketers are accused of deceptive practices that lead consumers to believe that they will get more value than they actually do

      • o

        Deceptive practices are illegal in Canada and regulated by the Competition Act and the Competition Bureau

      • o

        Deceptive pricing

        • Falsely advertising something as having reduced from the regular price, when in fact the product was never offered for sale

      • o

        Misleading things are deceptive practices

  • -

    Unsafe Products

      • o

        Consumers also complain about product safety

      • o

        Most manufacturers want to produce quality goods, they operate in legal and ethical boundaries of their complain most of the time

      • o

        Unsafe products result in more costs than rewards

      • o

        Marketers know that customer-driven quality results in customer satisfaction, which in turn creates profitable customer relationships

  • -

    Planned Obsolescence

      • o

        Holding new products which are better and more efficient so they can make more profit on other goods

      • o

        Ex, holding back rust proof metals, they say there’s metal that cannot be trusted, but after 2 years, a car metal rusts 7

Downloaded for free at www.uofgexamnetwork.com

Document info
Document views211
Page views225
Page last viewedThu Jan 19 23:34:29 UTC 2017
Pages44
Paragraphs2313
Words14476

Comments