MKT 100 Lecture Notes - Lecture 7: Aspirin, Life Insurance, Sodium Bicarbonate

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Polina Buchan

Document Summary

Distributors sales promotion motivate carrying product. Sales promo to keep current customers and distributors. Modify product by changing its characters: tide recently brought out pods. Finding new users i. e. before men cosmetics became its own market men used to use their wife"s moisturizer. Position product differently i. e. hudson bay brought in exclusive new lines to change perceived value offered to consumers at this retailer increase frequency of use. Innovators venturesome and don"t mind taking risk on new products. Do their own research and does not rely on salespersons or mass media. Early adopters influence others by their word of mouth respected by others for their objective knowledge and incredible source of information influence choices others make. Adopt before the average person but not the first to try new product. Mass media is their source for information. Adopt only after most people have purchased skeptical and don"t trust mass media or sales people.