MKT 407 Study Guide - Midterm Guide: Hilton Garden Inn, Umbrella Brand, Doritos
Document Summary
Art and science of meeting needs profitably. Satisfying needs for affordable flights- have standing seats. Hormel"s hand roll sandwich- quick and easy, can be eaten with one hand. Things can go wrong with marketing ideas. When coke created new coke , people were emotionally connected to the brand and were upset about the change. Attended to wrong type of market research. Gerbers adult food in baby jars failed because it wasn"t a consumer need. Focusing on internal capabilities, not consumer needs. Overpromising: saying the product will guarantee something, but in reality it doesn"t. Ex. non-stick fry pan sticker stuck on the pan. Brand dilution: spreading the brand too far because of brand association. Harley davidson making perfume, hooters starting an airline, colgate frozen meals. Marketing plans require many decisions that range from high level strategy (should we change formula and transform brand) to lower level execution( how quickly should we deliver our pizza) Business objectives- goal, core competence, fundamental entity.
