MKT 100 Lecture Notes - Lecture 7: Laundry Detergent, Future Shop, Hearing Aid

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

Document Summary

Mass marketing: marketing to everyone, generally not affective strategy. Selling hearing aids and that"s it: one to many. Future shop, buying the same products but either online or in store: many to many. Ex. cleaning products bathroom cleaners, laundry detergent, kitchen cleaners, etc all from the same brand: one to one, micro-marketing or mass customization. Considerations: market size, expected growth, competitive position, cost, compatibility. How consumers receive a brand relative to competitors brand in the same category. Strategies for positioning: product characteristics and customer benefit, differentiation. Sales staff, customer service, tech support, repair team, etc. Perceived character, emotional power, unique value proposition, etc. Lower prices convey discount: use or application. Example, baking soda was originally for baking but was repositioned as good for odour reducing and stain removing: class of users. Using celebrity spokespeople or athletes to convey success, beauty, luxury etc: unique within product class. Example, dove is soap but with a difference, its better for skin: cultural symbols.