Confidential 3 MARKETING CHANNELS AND VALUE NETWORKS Marketing Channel “the set of firms and individuals that take title, or assist in transferring title, to a good or service as it moves from the producer to the final consumer or industrial user” Kotler, P., and Armstrong (1989) Principles of Marketing. Prentice-Hall Classified - Highly Confidential 4 MARKETING CHANNELS AND VALUE NETWORKS Why It’s Important • Affect not only marketing decisions but also non-marketing’s • Convert potential buyers
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Major Project | Major Project This is an applied project of analysis. Students are responsible for completing two project reports (essays, ca. 7-10 pages each) as outlined below. Each of the two will count as 10% of your course grade (20% total). Submit each project, when due, via email attachment. Marketing in Action In an attempt to have you apply what it is that you are learning from your assigned textbook and readings and to do so in the context(s) in which you are most interested
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perceive prices and what they consider the current actual price to be (Kotler & Keller, 2012). Reference prices compare an observed price to an internal reference price they remember or an external frame of reference such as a posted regular retail price (Kotler & Keller, 2012). PRICE- QUALITY INFERENCES Many consumers use price as an indicator of quality. Higher- priced cars are perceived to possess high quality (Kotler & Keller, 2012). PRICE ENDINGS Many sellers believe prices should end in
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is known to use a brand: (Kotler and Keller, 2012) ◾ Represent your business professionally (Kotler and Keller, 2012) ◾ Remains in the memory of the target audience (Kotler and Keller, 2012) ◾ Inspires consumer confidence (Kotler and Keller, 2012) All brands, like all people and businesses have a unique personality. Two brands may not have the same personality. (Kotler and Keller, 2012) A brand must: ◾ Invent your own communication style. (Kotler and Keller, 2012) ◾ demonstrate their
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wants and behavior. Where a person is from or where they grow up (Kotler & Keller, 2012). Within a culture there are smaller subcultures that provide more specific identification and socialization for their members. Subcultures include Nationalities Religions Racial groups When subcultures grow large and affluent enough, companies often design specialized marketing programs to serve them (Kotler & Keller, 2012). Social classes – or divisions in a society or members
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grow up (Kotler & Keller, 2012). Within a culture there are smaller subcultures that provide more specific identification and socialization for their members. Subcultures include Nationalities Religions Racial groups When subcultures grow large and affluent enough, companies often design specialized marketing programs to serve them (Kotler & Keller, 2012). Social classes – or divisions in a society or members who share similar values, interests, and behavior (Kotler & Keller, 2012)
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the container for the product. To Kotler and Keller (2006), packaging may include up to three levels of material -the primary package (the container that directly holds the product), the secondary package (e.g. the box), and the shipping package (e.g. whether it will be packed in 3’s, 6’s, etc.). In the case of Apple iPhone, these three categories of packaging must apply – not only to identify the product but most importantly, to protect it. Kotler and Keller (2006) recommended that decisions
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information about developments in the marketing environment.” (Kotler & Keller, 2009, p. 69). 2. A trend is _________. A trend is “a direction or sequence of events that has some momentum and durability.” (Kotler & Keller, 2009, p. 72). 3. _________ shapes the beliefs, values, and norms that largely define tastes and preferences. “Society” shapes the beliefs, values, and norms that largely define tastes and preferences. (Kotler & Keller, 2009, p. 80). 4. The last step in the marketing research
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relating to marketing concepts and current corporate culture. Marketing involves “identifying and meeting human and social needs” (Keller & Kotler, 2006, pg.2). Marketing Management “is the art and science of choosing target markets and getting, keeping and growing customers through creating, delivering and communicating superior customer value” (Keller & Kotler, 2006, pg.3). The major area of concern is customer loyalty. Classic Airlines currently experienced a 19% decrease in classic award customers
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such as production, product, and selling that focuses on the product or service the marketing concept focuses on the demands, wants, and needs of the customer (Kotler & Keller, 2006). The purpose of this concept is to find the right product or service for your customer, and not the right customer for your product or service (Kotler & Keller, 2006). This marketing concept relates to the Classic Airline scenario because it is obvious that the organization needs to align with the wants and needs of
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