Principles of Marketing 3

Developing and Managing Products New products are important to sustain growth, increase revenues and proﬁts, and replace obsolete items; somemes it is diﬃcult to decide when to replace a successful product New Product – a producon new to the world, the market, the producer, the seller, or some combinaon of these New to the World Products – Disconnuous

MKTG | 351 | Principles of Marketing 3 | lecture notes | Developing and Managing Produc

Markeng Channel – Channel of Distribuon; a set of independent organizaons that erases the transfer of ownership as products move from producer to business users or consumer Channels represent place of distribuons element of the markeng mix, in that they provide a route for company products and services to ﬂow to the customer Channel Members – all par

MKTG | 351 | Principles of Marketing 3 | lecture notes | Markeng Channel – Channel of 

Developing customers into heavy users is the goal behind many frequency/loyalty programs; in- store coupon dispensing systems, loyalty card programs, and special price deals on selected merchandise The business market consists of four broad segments; producers, resellers, government, and instuons Company characteriscs, such as geographic lo

MKTG | 351 | Principles of Marketing 3 | lecture notes | Developing customers into heav

Personal Selling and Sales Management Tradionally, salespeople engage in direct face-to-face contact with customers, either at the salespersons place of business or at a secondary locaon Salespeople can be consumer-focused (as in the case of retail) or business-focused (selling to other ﬁrms) In many cases, consumer-faced salespeople require cu

MKTG | 351 | Principles of Marketing 3 | lecture notes | Personal Selling and Sales Man

People somemes deliberately seek contrary informaon in order to refute it and reduce dissonance Markeng managers can help reduce dissonance through eﬀecve communicaon with purchases Markeng-oriented companies perceive the contact center as an opportunity to engage customers and reinforce the brand promise All customers buying decisions ge

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