1. You are the brand manager of a new line of light weight autofocus, economically priced digital cameras. Describe how an understanding of consumer behaviour will help you in your segmentation strategy and promotion strategy. What are the consumer behaviour variables that are crucial to your understanding of this market ?
The specification of five elements creates a promotional mix or promotional plan. These elements are personal selling, advertising, sales promotion, direct marketing, and publicity. A promotional mix specifies how much attention to pay to each of the five subcategories, and how much money to budget for each. A promotional plan can have a wide range of objectives, including: sales increases, new product acceptance, creation of brand equity, positioning, competitive retaliations, or creation of a corporate image. Fundamentally, however there are three basic objectives of promotion. These are: 1. To present information to consumers as well as others. 2. To increase demand.
3. To differentiate a product.
There are different ways to promote a product in different areas of media. Promoters use internet advertisement, special events, endorsements, and newspapers to advertise their product. Many times with the purchase of a product there is an incentive like discounts, free items, or a contest. This is to increase the sales of a given product. The term "promotion" is usually an "in" expression used internally by the marketing company, but not normally to the public or the market - phrases like "special offer" are more common. An example of a fully integrated, long-term, large-scale promotion are My Coke Rewards and Pepsi Stuff. The UK version of My Coke Rewards is Coke Zone A strategy is a plan of action designed to achieve a vision. It derives from the Greek "στρατηγία" (strategia), "office of general, command, generalship" -------------------------------------------------
Strategies in game theory
Main article: Strategy (game theory)
In game theory, a strategy refers to one of the options that a player can choose. That is, every player in a non-cooperative game has a set of possible strategies, and must choose one of the choices. A strategy must specify what action will happen in each contingent state of the game—e.g. if the opponent does A, then take action B, whereas if the opponent does C, take action D. Strategies in game theory may be random (mixed) or deterministic (pure). That is, in some games, players choose mixed strategies. Pure strategies can be thought of as a special case of mixed strategies, in which only probabilities 0 or 1 are assigned to actions. Strategy based games all have a similar objective where the player thinks through a sequence of solutions to determine the preferred favorite in order to defeat the opponent. Chess is a common strategy game played throughout the world
2. Gillette, an established market leader in shaving products, is planning a foray into skin care products for men. How can the company use stimulus generalisation to market these products ? Can instrumental conditioning also be applied in this marketing situation ? How ?
A generalization (or generalisation) of a concept is an extension of the concept to less-specific criteria. It is a foundational element of logic and human reasoning. Generalizations posit the existence of a domain or set of elements, as well as one or more common characteristics shared by those elements. As such, it is the essential basis of all valid deductive inferences. The process of verification is necessary to determine whether a generalization holds true for any given situation. The concept of generalization has broad application in many related disciplines, sometimes having a specialized context-specific meaning. Of any two related concepts, such as A and B, A is considered a "generalization" of concept B if and only if: * every instance of concept B is also an...