marketing final 2

database technology, database marketing, monitoring relationships and customer relationship management

progression of a product through introduction, growth, maturity, and decline stages

first stage of a product lifecycle, in which a firm works to stimulate sales of new market entry

second stage of the product lifecycle that begins when a firm starts to realize substantial profits from its investment in a product

third stage of the lifecycle in which industry sales level out

final stage of the product lifecycle in which a decline in total industry sales occur

idea generation, screening, business analysis, concept testing, test marketing, commercialization

getting ideas from many sources. Suggestions from customers, sales force, research and development specialists, competing products, suppliers, retailers and independent investors

Separate ideas with commercial potential from those that cannot meet company objectives

assessing the new products potential market, growth rate and competitive strengths

subjects the product idea to additional study before its development by involving consumers through focus, and instore polling groups, surveys

purpose is to verify that the product will perform well in a real life environment

the product is ready for full scale marketing; can expose the firm to substantial expenses

level of customer service the distribution activities supports

how the firm ships its products

quantity of inventory the firm maintains at each location

how the firm packages and efficiently handles goods in the factory, warehouse, and transport terminals

how the firm handles orders

distribution systems location of stock and the number of warehouses the firm maintains

rail, water, truck, pipeline and air

can hold alot of stuff, but infrequent shipments

low pricing, but very slow speed

very extensive availability at different locations, but high costs

frequent shipments but slow speed

very fast speed, but very high costs

variety stores, department stores, mass merchandisers, (discount house, off-price retailers, hypermarkets and catalog retailers)

personal selling, advertising, sale promotion, public relations, direct marketing, and guerrilla maketing

• percentage of sales method
• fixed sum per unit method
• meeting competition method
• task objective method

a budget in which a dollar amount is based on a percentageof past of projected sales

budget in which a predetermined amount is distributed to each sales or production unit

a budget that simply matches competitors outlay

development of budget based on the evaluation of the firms promotional objectives

• profitability,
• volume
• meeting competition
• prestige objectives

setting prices with profit in mind. purpose of profit maximizaton and target return

set a minimal acceptable profit level and seek to maximize sales. sales maximization and market share

seeks to simply meet competitor prices; deemphasizes the price element of the marketing mix and focus strongly on non variable prices

establish a high price to develop and maintain an image of quality and exclusiveness