Informal study groups- Marketing & Management subjects
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primary products ...agricultural sector.Originally posted by ben1xy:yup. i can help with this.
when u talk abt primary products.. it will be mostly B2B i suppose? anyway .. wad area do u need help in.
international marketing is an area which i can give u heaps of help. just let me know the region that u need info on. coz this is where my research area lies in
international..mostly asian region
ironic thing is..i have two mktg exams next week. I really need help for biochem..any takers?
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international Asia region i'm pretty familiar. esp. east Asia side, if u need to kno abt industrial policy, institutional factors or the cultural aspects.. juz give me a pmOriginally posted by alexkusu:primary products ...agricultural sector.
international..mostly asian region
ironic thing is..i have two mktg exams next week. I really need help for biochem..any takers?
anyway .. bio chem .. hohoo .. definately not my cup of tea -
ooo...Originally posted by alexkusu:primary products ...agricultural sector.
international..mostly asian region
ironic thing is..i have two mktg exams next week. I really need help for biochem..any takers?
strategic marketing i may be able to chip in...
as for biochem... HA HA HA.
i did not take bio, dropped chemistry & failed physics at O-levels. LOL~~~ if these subjects are not ben1xy's cup of tea, they must be my POISON~! wahhahahaa...
anyway, u got any doubts abt strat mktg, can post here or pm me. when i can pop by will try my best lah~!
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Quick question.. whats the background or 'executive summary' for the Krugman, Seriff model of customer low invovlement?
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wah... very chim! i think ben can help better.Originally posted by alexkusu:Quick question.. whats the background or 'executive summary' for the Krugman, Seriff model of customer low invovlement?
i was only thought the trick to coming up with executive summary. take first sentence of every major section or paragraph in report & edit for better flow.
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hmm..since ben's not here yet, i shud throw in a bonus question.
What are the issues n considerations in the growth stage of a product life cycle? -
wah ... consumer behaviour ah
Krugman defined involvement as the number of personal links per minute between the person and the observed object or message. A person who paid marked attention to the object or the message was labeled as highly involved. He emphasized the differencebetween high and low involvement. His model placed a topic on a continuum for which the extremes were ‘no involvement’ and ‘total involvement’.
involvement also plays a mediating role between an incoming information message and consumers’ information processing behaviour. Krugman (1965, p.107) point out that this type of involvement does not refer to attention, interest or excitement but rather ‘the number of conscious “bridging
experiences” connections, or personal references per minute that the viewer makes between this own life and the stimulus’.
Krugman, H.E., 1965, The impact of television advertising: learning involvement,
Public
Opinion Quarterly, 29(fall), 349-356.
i dun think this model very popular these days -
mm..me oni knw krugman emphasis on repetition. So what model is popular? I thought oni got 3models...i ddnt knw its not popular..but i be examined on it
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this question very broad lehOriginally posted by alexkusu:hmm..since ben's not here yet, i shud throw in a bonus question.
What are the issues n considerations in the growth stage of a product life cycle?
first: category of the goods- is it FMCG, shopping goods and specialty goods. u have to tailor your marketing mix depending on the product class
second: competitors action.. growth markets will definately attract competitors... wad are your competitors doing? during the growth stage.. its better to avoid head on competition with ur competitors. with market growth, the market will be able to support more players. it is pertinent in this stage to entrenched urself in the customer's mind. if possible... build scale economies and achieve a cost leadership position (Porter)
thirdly: advert spending. the ROI on advertising is the highest during this phase
the below i copy from a website coz i lazy to type
The firm may either build market share or profitability in the growth phase. Strategies here are to make differential changes that add value to the product and to target new markets. Marketing moves away from promotion through personal selling toward more mass media advertising. Just as predators react to attractive targets, competition begins to build as awareness increases and sales momentum builds. Unit manufacturing costs begin to fall as fixed costs are spread over more production units and workers move down the learning curve. The firm attempts to stay in the growth stage as long as possible.
source: http://www.findarticles.com/p/articles/mi_m1038/is_n5_v39/ai_18736462 -
i not really into the consumer behavioural aspects of marketing... so i ain't too sureOriginally posted by alexkusu:mm..me oni knw krugman emphasis on repetition. So what model is popular? I thought oni got 3models...i ddnt knw its not popular..but i be examined on it -
thanks for ur help tho..
i be back with more questions -
yup. no problem. i'll try to help if i can la. i grad from marketing 1 and a half yrs liao.. so a lot of stuff very vagueOriginally posted by alexkusu:thanks for ur help tho..
i be back with more questions -
Frankly, this sounds rather outdated... let's use a simple product to illustrate.Originally posted by ben1xy:wah ... consumer behaviour ah
Krugman defined involvement as the number of personal links per minute between the person and the observed object or message. A person who paid marked attention to the object or the message was labeled as highly involved. He emphasized the differencebetween high and low involvement. His model placed a topic on a continuum for which the extremes were ‘no involvement’ and ‘total involvement’.
involvement also plays a mediating role between an incoming information message and consumers’ information processing behaviour. Krugman (1965, p.107) point out that this type of involvement does not refer to attention, interest or excitement but rather ‘the number of conscious “bridging
experiences” connections, or personal references per minute that the viewer makes between this own life and the stimulus’.
Krugman, H.E., 1965, The impact of television advertising: learning involvement,
Public
Opinion Quarterly, 29(fall), 349-356.
i dun think this model very popular these days
Decades ago, phone was just a simple tool for communication between people in different places. The design was more or less the same across all models and had very simple functions. Consumers were not terribly excited about it as it was merely a basic (though relatively advanced) communication tool.
But in the past decade, technology development has made phones an integrated part of our life. Mobility aside, HPs can also be a personal entertainment centre (radio, games & even video). Due to fast paced living, phones (be it mobile or fixed) are ESSENTIAL part of almost everyone's life to keep in touch with the critcal pple in one's life (be it core colleagues or family members). hence we have come to the stage that involvement with the product phone is so high that some pple simply "cannot live without it".
not sure if my above elaboration is applicable though. haha. -
yah.. like what ben said, this is a very general question.Originally posted by alexkusu:hmm..since ben's not here yet, i shud throw in a bonus question.
What are the issues n considerations in the growth stage of a product life cycle?
broadly speaking, once a NEW product has penetrated the market succesfully, the next stage is to plan how to continue maintaining and better still, capture larger market share.
shld the product penetrate based on being a niche product, the company wld have to ensure that its product or services are not easily imitated/copied. Esp when a product tends to command a higher price should it be a niche product, the company needs to adds value to the core product. For instance, to provide superior after sales service/technical support, making it tougher for competitors to imitate. With such efforts, the customer will be more willing to pay the high price (should there by no close competition) even though a product is in the growth stage.
else, shld the product be a more general commodity where competition is rampant, the company may have to adopt a different pricing strategy in order to retain market share. for instance, throw in promotions to entice customers to purchase in bigger quantities or extended service contracts. another way to retain interest during the growth stage is to launch complementary products/services so that consumers will be "locked in". for eg, Sony products are rather proprietary as they are designed such that the different equipment can be easily communicated with one another to faciliate consumer's use. so a product in a growth stage has extended life cycle as it can be used with its newer products from the same "family". -
alex: u're studying for exam or doing report?
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exam
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then ur export marketing topic, u need further help?? [/img]Originally posted by alexkusu:exam -
hmm...that can come later.
Lets discuss brands.
Issues of brand equity and marketing relevance? -
this is a very interesting topic: the rship of brand & marketing.Originally posted by alexkusu:hmm...that can come later.
Lets discuss brands.
Issues of brand equity and marketing relevance?
i believe most traditional or academic papers wld tell u that branding activity is part of the marketing. or in other words, marketing drives branding.
if i understand correctly, brand equity refers to the intangible/intrinsic value of the company or product (with the brand) in the market. for instance, a similar product may be worth or priced $xx, but due to higher brand equity, it can command ($xx + $yy) or in other words, it can fetch a premium price.
as such, brand equity has a lot of influence or relevance in marketing. The marketing plan's price, promotion or place (distribution) strategy relies heavily on the brand equity of the product. For instance, a product with lower brand equity (not so well known in the market) may require more elaborate planning &/or spending on A&P activities (pull strategy) to raise the brand awareness among its target customers.
However, in recent years, a lot of bigger corporations are changing their mindset when it comes to branding or increasing brand equity. it has become such that branding drives marketing (not the other way round).
these corporations are spending a lot more effort and resources to strategically plan & execute their branding & marketing activities to reach their brand objective. the brand carries more than just the intangible value of the product. it also represents an identity/values of what the company behind the brand stands for.
Take for instance, VIRGIN. VIRGIN's brand equity is high and they have been able to diversify their business rather boldly (w/o prior experience) and some even rather succesfully. No matter what they do, their working style revolves around being consistant with their brand value, ie, being "fun, maybe totally irrelevant & thinking out of the box" style. As such, their target customers around the world gets a very clear message of what VIRGIN stands for and even look forward to receiving new products/services from VIRGIN (partly coz they are curious as to what VIRGIN will come out with next).
not sure if the above helps. just my personal thoughts on branding & marketing!
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zodi, what do you do for a living?
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Originally posted by alexkusu:zodi, what do you do for a living?
u wanna guess? -
tax consultant, Inland Revenue Department, tax man, government people that everyone hates?Originally posted by zodi:
u wanna guess? -
Originally posted by alexkusu:tax consultant, Inland Revenue Department, tax man, government people that everyone hates?
wat made you guess that?! -
i was jus guessin...its wrong? come on..spill the beansOriginally posted by zodi: wat made you guess that?! -
according to the interviewers in various govt agencies, i don have wat it takes to be part of them leh!Originally posted by alexkusu:i was jus guessin...its wrong? come on..spill the beans 
