Review

* = not in the textbook

Chapter 3

profit
free market
perfect competition
monopoly
oligopy
private property
public property
R & D (research and development)
direct competition
indirect competion
customer loyalty (card)
production cost
Top of the mind
Service base
Product base
value added service
market share
* communism
market segment
landed cost
category killer

Chapter 4

market research
hard data
primary data
secondary data
periodicals
consultants
quantitative research
qualitative research
test marketing
closed ended questions
open ended questions
random sampling
media reasearch
consumer tracking devices
*how store design increases sales
*how store desing decreases shrinkage
*shrinkage
Mean
Mode
Median
* Placelessness
* Elsewhereness
* staples

Chapter 5

feasibility study
invention
innovation
8 stages of product development
utility
form utility (material, sent,flavour, colour, design, packaging)
information utility
place utility
time utility
possession utility
product mappint
marketing oppourtinity analysis
cost benefit analysis
ergonomics
* GATT
* WTO
* Subsidies
* Hyperinflation
* Tween
* Age Compression
* Word of mouth marketing (idea virus)
* commercial real estate
* residential real estate
(*) Slogan
(*) Jingle
* Knock off

Be able to: identify marketing strategies, why some products fail, benefits and disadvantages of a free market, benefits of competition. identify target markets, and be able to recognize good and bad marketing techniques

June 4 2007

Go to the following link and answer the following questions.  

http://www.virgin.com/home.aspx

1.  What is the product mix for the Virgin brand?  
2.  What challenges would such a diverse product mix present for the people in charge of marketing?
3. Go to the About Virgin Link: write a brief overview of the Virgin company?
4.  What type of person is Richard Branson, what are his characteristics, and do you think that his personality has contributed to his success? Explain.
5. Explore the virgin website.  What are 5 things that you find interesting?
6. On a scale of 1-10 how would you rate the Virgin website? EXPLAIN.  

"Be the change you want to see in the world." ... Mahatma Gandhi

Jason Southwell
Frank Hurt Secondary
604-590-1311

Friday May 30 2008

Today we will finish the video on Global Economics.  Next answer the following questions and hand them in.  

1. What are the WTF, IMF and GATT?
2. What were they set up to do?
3. Given that there are fewer big companies and more and more are going international, what implications does the IMF, WTO, and GATT have on companies

4.. ~Go on-line and find out what these terms mean.
a) fair trade
b) organic
c) bird friendly coffee
d) fair wage
5. You are in charge of marketing for a major clothing company (like the GAP). ~The company gets caught using child labour (12-14 year olds) and the children have to work 14 hours a day 6 days a week with only two 10 minute breaks. ~In addition, they only get paid $1.00 U.S./day. ~The news runs a story on your company and it really hurts your company's image. ~Your boss says that it is your job to run damage control, that is, improve the company's image. ~Write a description describing how you would do this. ~
6. ~Keeping marketing in mind, is it ever to a company's advantage to pay more for labour or resources (paying a working wage)? Why or Why not? USE EXAMPLES.

May 22 2008

Today we are going to look at complaints in advertising. We have already seen a number of Banned commercials in class.
(Finish and hand
First, go to the following link of the 10 most controversial ads of 2006.
http://news.bbc.co.uk/2/hi/uk_news/magazine/6640005.stm

1. Do you find any of these advertisements controversial/offensive? Which ones?

Now go to youtube and look up 'banned commercials http://www.youtube.com/results?search_query=banned+commercials
2. Is it ever beneficial for a company to produce an advertisement that offends people or an advertisement that may get banned? EXPLAINM

Now go to this site and read about Mentos and Diet Coke http://www.tutor2u.net/newsmanager/templates/?a=1949&z=69

Go to Youtube and look for other mentos/diet coke video's http://www.youtube.com/results?search_query=Coke+Mentos

3. Do you think that Coke is using the Mentos 'reaction' as a marketing advantage, or is it a disadvantage? Explain your answer.

4. Go to the following link and read some product reviews.
a) How can product reviews be beneficial and negative to products
b) Now think of a product that you have recently purchased or used and write your own descriptive review on it.  

May 13 2008

Watch Video "Buying into Sexy"

After the video, answer the following questions

1. What is a Tween?

2. What is "Age Compression?

3. Do you think that Demand for products always exists, or can marketers create Demand? Explain

4.  Do you think that 'sexy' ad improve or hurt the overall image of women? Explain

Next try the practice test @ the link below
http://www.worldofmarketing.nelson.com/quizzes/chapter_5_self-quiz.htm

Next answer questions 1-4 on page 200 and show it to Mr. Southwell for marks

May 8 2008

Commercial Day

First, Finish Yesterdays work and hand in. ~

Today we will be getting close to the end on Chapter 5 and you know what that means, there's a test around the corner. The TEST will be on THURSDAY!
PART 1
Today there will be some reading and questions.
Start by reading 'Product Mapping' on pgs 191 - 193 in your textbook.
1. Define Product mapping in your own words.
2. Look at Figure 5.26 on page 193. This is an example of a product mapping chart. You are to create your own chart (ON THE COMPUTER) using the following Information:

The TOPIC is Snack Foods

Use the same category rating scales:
messy ---------------------------- easy to eat
unhealthy/fattening -------------- healthy/lowfat
boring/traditional ---------------- fun/interesting flavours
expensive ----------------------- inexpensive

The snack foods that you are to put on the chart are:
pudding (chocolate, vanilla, etc)
cut up veggies
fruit (apples, bananas, etc)b
granola bars (and similar products)
cheese snacks (handi snacks, cheese strings etc)
crackers (saltine, ritz, etc)
chips (tortilla and potato)

3. When you are done, share your results with someone else. Explain how similar or different your chart was.

PART 2
Read 'Marketing Oppourtunity Analysis' on pages 193 - 195
4. What is 'Marketing Oppourtunity Analysis' ?
5. You are to do your own Marketing Oppourtunity Analysis of your own. You can pick any brand of product you would like to complete the MOA or you can use TIDE COLDWATER
Link to TIDE COLDWATER site: http://www.tide.com/en_US/tidecoldwater/index.jsp
You may need to search the internet to answer the following questions
a) List all of the similar brands that compete with Tide Coldwater laundry detergent (or the brand you picked).
b) Now pick out the INDIRECT competition and write them down.
c). Now write down the DIRECT competition.
d) Now that you have an idea of what competition is out there, does Tide Coldwater (or your product/brand) have 'market potential'? Explain.

Part 3
Read 'Benefit Analysis' pages 196-197.
7. What is a cost-benefit analysis? (your own words of course)
Hand in when you are finished.
Due at the end of class on Monday. ~

May 5 2008

Today we are starting product development and we are going to look at some 'strange' new products that are entering the market.
First, you will need to open the Document "NEW PRODUCTS" on the shared drive (go to the shared drive, open classes, Mr. Southwell, and then open the NEW PRODUCTS document)

Then answer the following question on EACH of the 12 products. (answer question 1-4 twelve times)

1. Do you think that this product will sell (is it feasible)?
2. Do you think that this product would have a traditional, niche, fad, or seasonal life cycle?
3. Who would the target market for this product be? (Be specific)
4. How do you think this product would best be marketed (T.V., Radio. Internet, Infomercials etc)

Answer only once, at the end.

5. What are at least 3 things that make a product successful?

Good Luck!