RSM100Y1 Lecture Notes - Lecture 1: Retail, Brand Loyalty, Marketing Strategy
Document Summary
Announcements: a lot of written component based on class discussion. Process of planning and executing the conception, pricing, promotion and distribution of goods and services to facilitate exchanges that satisfy individual and organizational objectives. Marketing concept era 1950s to 1990s. Promotions for early booking and off season booking. Walt bought lands under different names for price. Find a need -> conduct research -> design products to meet the need -> brand name -> pricing -> select distribution system -> promotional program -> build a relationship with customer (split bathroom on crew ship for disney) You have to get someone to taste your food (aka primary data) Winner organises by size rather than by style. Product line is a group of items that are physical similar. Product mix is combination of product lines offered by manufactures. Attempt by the manufacturer to create a real or perceived difference in the minds of consumers of the superiority of one product over others.
