Shawn's Tech Place

Teaching note : Factors that impact on prices

Internal Factor

1.Marketing objective

Survival
– aggressive competition
– downturn in industry
– obsolete product
– set price to break even
– cover costs

Current profit maximisation
– set high price
– may attract new entrants

Market share leadership
–set low price to gain large market share (market penetration)

Product quality leadership
–set high price
-infers high quality

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Education, Marketing Education, Management, Marketing, pricing strategies

There are 8 Development process of New Product, which are Idea generation, Idea Screening, Concept development and testing, Marketing strategy, Business analysis, Product development, Test marketing and Commercialization.

Idea generation

• systematic search for new product ideas
• What are the main sources of new product ideas?
-  internal sources
•employees, R & D
– customers
– competitors
– distributors (resellers) and suppliers
– secondary sources
•publications, market research firms, inventors etc

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Education, Marketing Business, Marketing, product improvements, product strategy

There are 3 types of opinion leadership, opinion leader, opinion seekers and opinion recipients. The progression by which individual (the opinion leader) informally influences the expenditure proceedings or thoughts of others who may be opinion seekers or opinion recipients.

Generally, Opinion leadership has a keen sense of knowledge and interest in the particular product or service area – perceived as having “expert power” and often receives information via non-personal sources – often reads magazines, special-interest publications or search the Internet for further information.

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Education, Marketing Business, opinion leader, Video, words of mouth

Education – Business Marketing: Consumer Behavior

The three aspects are perception; selection, organization, and interpretation. People are very selective as to which stimuli they “are familiar with.” They subconsciously categorize the stimuli they do familiar with base to usually held psychological principles. As a matter of fact, they interpret such stimuli subjectively. In accordance with their requirements, prospect and experiences

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Education, Marketing Business, Buyer Behavior, consumer behavior, perceptions

Communication & Consumer Behavior – Message Strategies (with video)

The message is the thinking, thought, feelings, picture, or other information that the sender desires to transmit to the intended audience. Therefore, senders must be familiar with what they are intend to speak and their audiences’ characteristics so they can program the message appropriately. Read more…

Education, Marketing Advertising, fear, Humor, nonverbal stimuli, sex, Youtube

Marketing – Product Strategy

What is a new product?
- New to the world
- New category entries
- Additions to product line
- Product improvements
- Repositioning

Product quality
- capability of the product to achieve its functions including overall stability, reliability, precision, repair and ease of operation.
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Education, Marketing Business, Marketing, product improvements, product strategy, repositioning

Buyer Behavior-Business Marketing (my teaching notes)

Consumers try to preserve or develop their self-images by buying goods they believe agree with that self-image and keep away from products that do not consent. Consumers be likely to shop in stores that have images that consent with their own self-images

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Education, Marketing Branding, Business, Buyer Behavior, Marketing, self image

Key To Selling

Your business’s success will depend on your ability to persuade others to take actions that will help them while also helping you. This is referred to as a win-win situation. Both parties in the transaction must receive a benefit in value or in satisfaction Read more…

Management, Marketing attitude, Business, Customer Experience, Marketing, Selling, Successful