•What is the relationship between price and demand? Why is it important for a firm to price at the point at which marginal revenue is equal to marginal cost?
•Why should a firm consider fairness when pricing its goods?
•How has the Internet enhanced opportunities for dynamic pricing strategies?
•Why would a firm want to implement a price-discrimination [...]
1) Why are marketing communications important?
Its important because the internet has created competition and leaves expectations in the minds of the consumer, therefore we must reach these expectactions through interactivity and through individuals and their important relationships to the marketing department.
2) What is the role of the Internet in a marketing communications campaign?
The goal of [...]
1) How is product defined?
• Can be defined as both tangible goods and intangible services generally created for the purpose of transaction.
• Two general types of products for which the levers of product development differ – physical and services.
• The Internet is changing some accepted limitations of service-based offerings such as intangibility, simultaneity, heterogeneity, and [...]
1) What is the definition of community?
A set of interwoven relationships built upon shared interests, which satisfies members’ needs otherwise unattainable individually.
2) What are the criteria that define successful community?
•Membership is a conscious choice.
•Member base has achieved critical mass and sustainability.
•Members feel a great sense of trust.
•Members achieve benefits in scale.
•Roles are not hierarchical or [...]
1) Is the Internet a distribution channel?
• A distribution channel is the system of organizations involved in the process of making a product or service available for consumption or use.
• Marketing channels therefore facilitate the exchange of goods and services between buyers and sellers
2) What are the functions of channel intermediaries?
Objectives of Channel Intermediaries
Efficiency: Distribution [...]
Designing a Marketspace Matrix
1. What is a buyer-seller relationship? How can it vary?
• A relationship is a bond or connection between the firm and its customers.
• This may be strong, weak or nonexistent.
• It can be based on logic or emotion
• Buyer-seller relationships are based on exchange, where each party expects, or perhaps even demands [...]
Explain the nature of the consumer adoption process. How is it different from the concept of diffusion of innovations?
The consumer adoption process is a generally accepted conceptualization of the stages a consumer goes through when confronted with a new product or service. The consumer must become aware of the product, develop interest, perform a pre-purchase [...]
What do you think the future holds in term of knowledge management and use in the marketing applications?
What the future holds in terms of knowledge management and the use of it for marketing application is still in working progress. I mean the technology does exist, however barriers exists and there could be other mistakes [...]
Clickstream- the complete data record, made up of mouse-clicks, of consumer activity on the Internet during a specified period, usually the dureation of a visit to a single Website.
Server Log- record kept at the server level that records each file requested from a Website. Created by the server that houses the Web site. Each time [...]
CRM:
Targeting: refers to directing marketing communications to individuals or businesses that have been identified as valid prospects for acquisition or retention. Targeting in CRM identify a customers by developing customer profiles and using them either to identify customers who are appropriate to receive. Customer profile: a description, primarily quantitative, of an individual or segment using [...]
By STEPHANIE CLIFFORD
Published: November 12, 2008
Google announced on Wednesday that it would begin selling space on YouTube search-results pages to advertisers, part of its effort to turn its expensive acquisition into a major revenue producer.
The feature allows anyone who has a video on YouTube to promote it on a search-results page. An advertiser — or [...]
We discussed different topics in class. ROI = # of peopl, target audience, scope, demographics VS. people you reach with normal advertising (20%).
Community con’d – consumer attributes and product attributes pursue community creation.
Distribution – info, funds, materials.
Brand encompasses all levers, def-name, symbol, design, term, etc that is intended to identify product or service to differentiate [...]
Communication – relevant message to the right people and at the right time.
Product – Tangible goods and intangible services: core benefit, basic product, augmented product-post-sales support; cost care, loyalty programs.
Customer relationship management; 2 techniques: 1. product development levers appropriate for existing customers 2. emphasize value proposition relevant to any given stage of the relationship.
Community – [...]
Last week we started with costumer relationships in 4 aspects: Awareness, exploration/expansion, comittment, dissolution.
Individuality – associate individual with group type behavior
Interactivity- how involving is the site? Levers include price, product, communication, community. Branding can accelerate the impact of the levers in connection with the 4 aspects of customer relationships.
Monday – we spoke about different types of pricing. ebay uses auction [...]
We finished up presentations and then the class voted. Professor Wymbs concluded the class by telling the class that the 7 c’s was supposed to be a website evaluation, not a tour. Does the website have emotional appeal? How well does the company utilize text and image? Do they use too much or too little? [...]