Marketing 101 Lecture 1 - notes The who and where of marketing Marketing originated in the 1920’s Who: Marketers have varying backgrounds that work in every industry even various governments. The role of marketing Broader view: Marketing can be integrated with all business activities Depending on the organisation… Limited view: Could be limited to sales or could be just advertising Marketing creates value. What is marketing? Marketing is the activity‚ set of institutions and processes
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Discussion Board 1/ Week 1 Business Ethics Benji Watson graduated near the top of his class in the Liberty University MBA program and he was recruited by several national corporations. One of those corporations was New Gen Health Sciences. New Gen manufactures and sells various vitamins‚ health foods and health supplements and it was recently featured in Fortune Magazine as one of the fastest growing companies in America. Benji was invited to attend a weekend long “Get to Know Us” event at New
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Journal of Consumer Research- Article “How Males and Females Differ in Their Likelihood of Transmitting Negative Word of Mouth” Word-of-mouth (WOM) is the informal communication by consumers about their evaluations of goods and services to other consumers. Negative WOM (NWOM)‚ typically arising from a dissatisfactory consumption experience. The given information the article found was that consumers may be more likely to transmit NWOM to those to whom they have strong ties. Research also shows that
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Executive summary By early 1988‚ Augustine Medical executives were actively engaged in finalizing and marketing the program for the patient warming system named Bair Hugger Patient Warming System. The principal question yet to be resolved was how to price this system. Several considerations are required in terms of organizational objectives‚ demand for the product‚ customer value perception‚ buyer price sensitivity‚ the price of competitive offering‚ and direct variable costs. The company has two
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Tesco’s Structure Tesco has a hierarchical structure because the company has a lot of layers of management and control. The majority of Tesco’s layers are controlled by one employee who monitors the work of every one on that level. In hierarchy structures like Tesco’s instruction are usually passed down from one person to another until it reaches the bottom of the hierarchical structure. On the other hand if there is a problem in the structure it is usually moved up the structure from person to
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The Internet promotes both convergence and divergence amongst different culutres and nations of the world. TRUE Which of the following is a characteristic of culture? People are unaware of many of the biggest cultural influences on how they think and behave In an individualistic society‚ expert opinion is valued over group decisions. TRUE Which of the following does not make sense when considering the country clusters: An Austrian firm generalizes its management practices to a Finnish firm. Norms
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Joseph Park American Agriculture Agriculture is a large part of the American economy and plays a major role in domestic affairs‚ even though there are foreign implications‚ such as aid to other poor‚ foreign countries in the form of food. Because agriculture is vital to keeping the domestic economy stable‚ the federal government has and had passed farm bills that give governmental subsidies to farmers‚ allowing them to “artificially inflate prices” of farm products. Another component of the
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02-45282-kivisto.qxd 6/30/2007 10:58 AM Page 41 CHAPTER 2 The Weberian Theory of Rationalization and the McDonaldization of Contemporary Society George Ritzer George Ritzer is Distinguished Professor of Sociology at the University of Maryland. His major areas of interest are sociological theory‚ globalization‚ and the sociology of consumption. He has served as chair of the American Sociological Association’s sections on theory (1989–1990) and organizations and occupations (1980–1981). He has
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• What is the decision making process for Metabical? ◦ Who is involved? ◦ What role do they play? ◦ What are the stages in the process? In the launch of Metabical for the US market‚ several marketing decisions need to be made to bring a viable product into the market to maximize market penetration and gross margins over the PLC and to best serve the needs of the customers The players are • Health Care Professionals ◦ Will prescribe Metabical to their patients ◦ Can influence Insurance Companies
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Chapter 3: Cola Wars Question #1: In the new Coke fiasco‚ how could Coca-Cola ’s marketing research have been improved? To determine how the marketing research could have been improved‚ let us first define the end result. Ultimately‚ consumers felt almost betrayed that Coca-Cola scratched their flagship product‚ Coke‚ for a newer‚ updated flavor. Coca-Cola ’s marketing research showed that over half of the people who taste-tested the new flavor preferred it over Pepsi and the nearly 100 year
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