Pricing
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?
Price
Inverse relationship between price and quantity.
As a product price decreases/ decreases, demand will increase/ decrease.
Substitute Offerings/ Prices
Both the types of substitute goods and their prices affect the [...]
Product
How is product defined?
Can be defined as both tangible goods and intangible services generally created for the purpose of transaction.
How do Interactivity and Individual (the 2Is) impact product?
The 2Is allow a company to learn more about its customer, personalize a product to meet customer preferences, and offer CRM tools to provide more value for customers [...]
10/20/08
10/22/08
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 [...]
Server Log, Coded Page, and Panel Date
· Server log: record kept at the server level that records each file requested from a website; server log files are created by the server that houses the web site. Each time a browser requests a file in order to build a web page, it generates an entry in [...]
The Nature of Consumer Adoption Process
· The customer adoption process is generally accepted conceptualization of the stages a consumer goes through when confronted with a new product or service.
· According to the adoption process, the consumer must first become aware of the product, then develop an interest in it, perform some pre-purchase evaluation, and [...]
Knowledge Management and Marketing Applications
· Marketers are interested in a narrower set of activates that focus on integrating front-and back-office services and delivering information to customer service personnel and decision makers when and where they need it.
· They are connected about customer experience and realize they must deliver it seamlessly through multiple channels at [...]
Google announced today that its Book Search engine is now home to magazine archives. Partnerships with publishers such as Hearst mean you can read magazine articles in full-color, from page-to-page, in their original context. And you don’t have to be afraid of papercuts. Searches now bring up results from magazines like Popular Science, New York [...]
On Apple’s website iTunes, they used to have a section to purchase movies which was an “Under $5″ area which offered up a handful of flicks for $4.99 or less. But now its gone. In its place, Apple has a “Great Movies Under $10″ section. Not only is that obviously a worse deal, but what Apple [...]
The first-ever live broadcast of an NFL game in 3D aired in New York, Boston, and Los Angeles last week. The game played on a large screen in a theatre and on 2 HDTVs with the 3D feed. The 3D transmission is supposed “to bring the audience on the field with the players.” I think [...]
Blockbuster Video is selling a set-top box that could download movies and play them on a television. However, Internet connection in most homes in the United States may not be fast enough to make downloading movies a satisfying experience. I don’t think this will sell as well as Blockbuster hopes due to the rise of bootlegging and [...]
Anticipatory Customer Service
Being proactive, not simply waiting passively until customers request service
Companies must anticipate potential problem areas before they become troublesome, develop solutions, and provide service that exceeds customer expectations.
Role in Successful Customer Service Delivery
Anticipatory customer service builds customer scenarios by using data including call center reports, e-mai logs, chat transcripts, and Website software. These scenarios allows [...]
Ebay’s application of the Marketspace Matrix Change Over time
• EBay began to utilize more levers, and the additions were focused in two places: the commitment column in the matrix became heavily utilized, as did the community row.
• EBay did also seek to drive awareness and exploration among new users, but the firm designed the bulk [...]
Seller Relationship and why it varies
• 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
• Logical bond – realization that a customer simply cannot get a better product elsewhere.
• Greatest potential for strong buyer-seller relationships exists [...]
Brand
• A name, term, sign, symbol, or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of the competition
Brand Equity
• A set of assets (and liabilities) linked to a brand’s names and symbol that add to (or subtract [...]
Distribution Channels
the system of organizations involved in the process of making a product or service available for consumption or use
facilitate the exchange of goods and services between buyers and sellers
the Internet is a distribution channel
Functions of Channel Intermediaries
Efficiency: distribution costs are reduced only id the retailers can perform the required functions more efficiently than the manufacturers [...]