Study Guide, Principles of Marketing

Module Study Guide Taylor’s University Undergraduate Business Programs BUS2304 Principles of Marketing August Semester 2012 BUS2304 PRINCIPLES OF MARKETING Page 1 TUTORIAL 1: INTRODUCTION TO MARKETING CLASS ACTIVITIES: ? ? ? Module Information Booklet will be talked about and clarified in detail Form Groups Tutorial activities †Introducing the fundamentals ideas of advertising LEARNING OUTCOMES ? ? ? Comprehend key showcasing ideas and promoting the executives ways of thinking utilized in advertising arranging Understand the significance of advertising in strategic approaches Understand the idea of the showcasing experienceDiscussion addresses 1. What is the most stunning promoting experience you have ever had? ? Was it an individual representative or a business forms? ? Portray a circumstance where you turned into a â€Å"lost customer†. Was it as a result of poor item quality, poor assistance quality or both? Utilizing the idea of â€Å"consumer need† to d istinguish markets: What is National Express’s ‘product’? What showcase (need) does it serve? Who are their immediate rivals? What are the likely substitutes? BUS2304 PRINCIPLES OF MARKETING Page 2 What is their ‘product’?What markets do they serve? Who are their rivals? What new markets may they abuse? Diary Article: Theodore Levitt’s Marketing Myopia (1960) Students to comprehend the idea of ‘marketing myopia’ and the threats that characterizing their items and markets also barely may posture for an association. What is Cellular One selling? What promoting the executives theory do you find in proof? BUS2304 PRINCIPLES OF MARKETING Page 3 Is there anything that can't †or shouldn't †be advertised? BUS2304 PRINCIPLES OF MARKETINGPage 4 TUTORIAL 2: MARKETING ENVIRONMENT CLASS ACTIVITIES: ? ? Gathering action Discussion addresses LEARNING OUTCOME: ? ? ? Clarify how changes in the showcasing condition can impact promoting ex ercises Identify the distinctive smaller scale natural elements Identify the diverse full scale ecological variables TUTORIAL ACTIVITIES Discussion addresses 1. What are a portion of the social contrasts that you have seen when you lived or voyage abroad? ? What were a portion of the likenesses/contrasts that you watched? How much should social contrasts be considered in worldwide showcasing? 2. Envision an organization that is thinking about changing its product offering to turn out to be all the more earth well disposed, which may expand costs. Utilize the six significant powers of the macroenvironment and rundown upsides and downsides that the organization should contemplate before settling on its ultimate conclusion. Gathering Activity In a gathering †Bring broadsheet papers. Imprint/feature articles identifying with Macro and Micro condition. Clarify. Allude to models appeared by your tutor.BUS2304 PRINCIPLES OF MARKETING Page 5 TUTORIAL 3: CONSUMER BEHAVIOR 1 CLASS ACTIVI TIES: ? ? Conversation Questions Group movement LEARNING OUTCOME: ? ? ? ? Recognize the various attributes that impact customer conduct Differentiate the various sorts of purchasing conduct Identify the various stages in a purchaser choices process and apply distinctive promoting methodologies to invigorate premium/buy in these stages Identify the diverse full scale ecological components TUTORIAL ACTIVITIES Discussion questions Could KFC utilize this advertisement outside Asia?BUS2304 PRINCIPLES OF MARKETING Page 6 Group Activity 1 Examine Maslow’s 5 phase Hierarchy of requirements model. Experience the ads in your national and nearby papers, magazines and so on to check whether you can distinguish and gather in any event one commercial which centers around every one of those stages, from physiological (biogenic) through to self realization (psychogenic). Likewise consider TV channels and sites. Print out models in the event that you can. Action 2 Consider two buys you have m ade as of late e. g. soda pop (restricted critical thinking) and a vehicle, occasion, PC or a degree course. (broadened or included critical thinking). Look at for each situation how the dynamic procedure model laid out above may have contrasted. Here you may think about focusing on the evoked set and post psychological discord. Does your experience vary from the acknowledged hypothesis? In the event that so for what reason do you figure this might be? BUS2304 PRINCIPLES OF MARKETING Page 7 TUTORIAL 4: CONSUMER Behavior 2 CLASS ACTIVITIES: ? ? Conversation Questions Group movement LEARNING OUTCOME: ? ? ? Distinguish the various attributes that impact shopper conduct Differentiate the various sorts of purchasing conduct Identify the various stages in a purchaser choices process and apply distinctive advertising systems to invigorate intrigue/buy in these stages Identify the diverse large scale natural elements TUTORIAL ACTIVITIES Discussion addresses 1. Would the advertisers at Merce des be satisfied if the mentor of a brandishing group or the head educator at a grade school bought an A-Class? BUS2304 PRINCIPLES OF MARKETING Page 8Group Activity Social evaluation order The UK Office of National Statistics (ONS) created another financial characterization in 2001. The explanation was to give an increasingly complete and point by point characterization to consider more up to date work designs. Gathering 1 2 3 4 5 6 7 8 Description Higher Professional and Managerial specialists Lower Managerial and Professional laborers Intermediate occupations Lower Supervisory and specialized Semi Routine Occupations Routine Occupations Long term jobless A B Grade C1 and C2 C1 and C2 D E Small Employers and non proficient independently employed C1 and C2Many business statistical surveying programs have discovered huge contrasts in purchasing conduct between the different social evaluations. The Market Research Society contends that this framework can be advocated as it is anything but difficult to explore and that the social evaluation seems, by all accounts, to be a sensibly decent discriminator in numerous item advertises profiled in MINTEL reports. Social evaluation reflects way of life designs and is utilized broadly by publicists while profiling customers. Questions a. How much do you believe that social class is a useful idea in improving the marketer’s comprehension of shopper conduct. . What do you the significant reactions to the social evaluation framework are? c. Think about the accompanying occupations and apportion a social evaluation to them: I. Understudy ii. Sanctioned Accountant iii. Bricklayer with City Council iv. A hiker v. A resigned retired person on state benefits vi. A High Court Judge BUS2304 PRINCIPLES OF MARKETING Page 9 vii. viii. ix. x. xi. xii. An independently employed handyman. Educator matured 23 (qualified) Teacher matured 32 (qualified) Retired representative, organization benefits Shop Assistant Unemployed ranch wor kerBUS2304 PRINCIPLES OF MARKETING Page 10 TUTORIAL 5: SEGMENTATION, TARGETING AND POSITIONING CLASS ACTIVITIES: ? ? ? Watch the video â€Å"LoReal Percier† Discuss questions Mini case conversation LEARNING OUTCOME: ? ? Distinguish the various bases for dividing customers and business markets. Assess showcase sections, select market fragments and pick advertise inclusion techniques TUTORIAL ACTIVITIES Discussion addresses 1. What is the essential method of reasoning for division? 2. What are a portion of the normal factors used to fragment a market? 3.What are the prerequisites for powerful division? 4. What is the contrast among division and focusing on? Gathering Discussion Market division is worked around distinguishing contrasts in needs between various gatherings of clients. How could a bank portion its customer showcase? BUS2304 PRINCIPLES OF MARKETING Page 11 Video: L’Oreal Watch the L’Oreal Percier video a) Who is the objective market for the item? b) Wh at bases for division has L’Oreal utilized? (Think about the significance of geographic, segment, social and psychographic)Read Tasty Bite: Coming to America (Textbook page 133) Discuss the division, focusing on and situating steps that Tasty Bite has taken in entering the US showcase. BUS2304 PRINCIPLES OF MARKETING Page 12 TUTORIAL 6: PRODUCT AND SERVICES STRATEGY 1 CLASS ACTIVITIES: ? ? ? Distinguishing mottos for brands Group movement Mini case LEARNING OUTCOME: ? ? ? Distinguish diverse item/administrations and their groupings Recognize the significance of marking, bundling and naming an item Suggest product offering and item blend systems for item/administration TUTORIAL ACTIVITIES . Brand Association and Slogans. Distinguish the brand name for every one of the accompanying trademark/state. What number of trademarks/phrases did you distinguish? 2. Brand 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 Slogan Impossible is Nothing The world’s neighborhood bank It’ s the genuine article The world chief in oral consideration. The most remarkable soluble battery on the planet. Take capacity to the following level. Offer minutes. Offer life. Since I'm justified, despite all the trouble. Stir your faculties. Associating individuals. The decision of another age. There are a few things cash can’t purchase. For everything else, there’s [product name].Don’t venture out from home without it a definitive driving machine The most joyful spot on earth Put a tiger in your tank The intensity of dreams Page 13 BUS2304 PRINCIPLES OF MARKETING 18 19 20 Melts in your mouth, not in your grasp Just do it Give me a break! Peruse Pepsi Sakes bubble with constrained release soda pops (Textbook page 334) Read case 11. 2 (Textbook page 334) and answer the conversation questions. BUS2304 PRINCIPLES OF MARKETING Page 14 TUTORIAL 7: PRODUCT AND SERVICES STRATEGY 2 CLASS ACTIVITIES: ? ? Gathering action Case Study †New Belgium Brews up solid bran d value LEARNING OUTCOME: ? ? ?Distinguish distinctive item/administrations and their orders Recognize the significance of marking, bundling and naming an item Suggest product offering and item blend procedures for item/administration TUTORIAL ACTIVITIES 1. Gathering Activity †Who am I? a. Select an item class â€mobile telephones, PCs, vehicles and so forth b. Brai