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Week 10

by: Petey Martin

Week 10 MKT 203

Petey Martin
GPA 3.25

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Week 10 of Notes.
Class Notes
25 ?





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This 2 page Class Notes was uploaded by Petey Martin on Saturday November 14, 2015. The Class Notes belongs to MKT 203 at University of Rochester taught by HOPE V in Summer 2015. Since its upload, it has received 14 views. For similar materials see PRINCIPLES OF MARKETING in Marketing at University of Rochester.

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Date Created: 11/14/15
Petey Martin Notes (11-10-15)  Products Part I o Marshall McLuhan  The Medium is the Massage.  Branding of eggs, directly on the egg.  you.  The wheel is an extension of the foot; the book of the eye; clothing of the skin; electric circuitry of the central nervous system.  Products Part II III & IV o Products Part 2 Packaging  Owning the shape.  Ex. Coke bottles.  Efficiency of design shape.  Ex. Coke 12 pack. o Depth equal to refrigerator. o Gravity-driven punch out shape. o Limited wasted materials.  Imitation of packaging.  Ex. Wegmans.  “Grip Idea”  Ex. Maxwell House to Folgers to Wegmans.  “Pop tops”  Ex. Tuna cans.  Pocket-size.  Ex. Altoids mints. o Products Part 3 Key Ideas About NEW PRODUCTS  Many products fail = not based on well-conceived customer requirements.  Products Most Likely to fail for internal reasons.  The Exquisitely Engineered Solution – to a problem that doesn’t exist.  Impacting The Customer Adoption Process –  Awareness o Grasp people’s attention.  Interest o Target their needs and values.  Evaluation o Give people a reason to switch what they’re doing.  Trial o Get people to try the product.  Adoption o Get people hooked on the product.  Customers react with different response rates to new products.  Important to attract the early adopters who influence the market. o Innovator/Pioneer o Early Adopter o Middle o Late Middle o Laggard  Technology Diffusion Rates  Time vs. Market Penetration o Ideal: Quick Market Penetration.


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