Our Menu Tonight Chapter 17

8/2/2019 Our Menu Tonight Chapter 17

1/16

OUR MENUTONIGHT

Reminders & AnnouncementsPlease return my sample project reports

soon

Lecture Review : Chapter 16

Class Discussion & Short Video

Lecture : Chapter 17


2/16

10 M 3/12 Chapter 17 Pricing Objectives and Policies

W 3/14 Chapter 18 Price Setting in the Business

World

11 M 3/19 Final Exam Review and Course

Summary

W 3/21 Final Exam


3/16


4/16

1. Download the article by Jayne ODonnell from Blackboard (4 pages intotalpages 114 to 117) entitled In Lean Times, Retailers shop forSurvival Strategies.

2. Read and understand her article thoroughly and write on the following:a) Conduct a comparative analysis of the 4 retailers discussed in the

case on their dimensions of inventory, staffing, store openings andpromotion. Comment on your analysis.

b) In your opinion, is it more challenging for retailers to maintain

customer loyalty during tough economic times. Justify your answer.c) What to you envision will be the major problems and challenges

retailers will face in the next decade?

3. You can either work on this assignment on your own OR choose to

work with another member of the class.

4. You must submit a printed copy of your assignment by Wed, 7 March.Late submission, if accepted, will be subjected to substantial penalty.

5. This assignment will account for 10 percent (or 100 points) of your finaloverall grade. Email submissions are strictly not allowed.


5/16

Mon, 3/19

Final Exam Review

Chapters 9,10,11,13,14,15,16,17,18

Final day of class


6/16

Wed, 3/21, 8pm

Chapters covered:9,10,11,13,14,15,16,17,18

FinalExam


7/16

Chapter 16

Lecture Review


8/16

Lecture Review: Chapter 16

Focus on Advertising and Sales Promotion

Advertising objectives should be specific as advertising isexpensive to develop and implement.

Types of Advertising either Institutional or Product-related

Product Advertising Pioneering, Competitive, ReminderAdvertising

Various medium of advertising TV & cable, newspaper,radio, direct mail, outdoor, magazine, internet, etc.

Using AIDA and targeting to communicate ad message, thecopy thrust.

Nature of Sales Promotion


9/16

InstitutionalAdvertisingInstitutionalAdvertising

Pioneering

Advertising

ProductAdvertising

Competitive

Advertising

Reminder

Advertising

Direct Indirect Comparative

Types ofAdvertising

Objectives Determine the Kinds of Advertising(Exhibit 16-5)


10/16

Comparing Advertising Media

Media2004spend.

(billions)

2-year%

growth

Advantages Disadvantage

Television& cable

$67.8 25.3%Demonstrates well,good attention, widereach

Expensive in total,clutter, and lessselective audience

Directmail

$52.2 16.8Selected audience,flexible, canpersonalize

Relatively costly percontact, junk mail,hard to retainattention

News-

paper

$46.6 5.9Flexible, timely, local

market

May be expensive,short life, no pass

along

Radio $19.6 9.5Wide reach, low costsegmented audience

Weak attention, manydifferent rates, shortexposure


11/16

Comparing Advertising Media (Exhibit 16-6)

Media2004spend.

(billions)

2-year%

growth

Advantages Disadvantage

Yellowpages

$14.0 1.4%Reaches localcustomers seekingpurchase info.

Many competitorslisted in same place,hard to differentiate

Magazine $12.3 11.8Very targeted, gooddetail, good passalong

Inflexible, long leadtimes

Internet $6.9 40.8

Ads link to moredetailed site, some

pay for results,easy to track results

Hard to compare costs

with other media

Outdoor $5.8 11.5Flexible, repeatexposure,inexpensive

Mass market, veryshort exposure


12/16

In our current economic climate and

with promotion costs escalating, willmarketers continue to deploy traditionaladvertising (e.g. 30-sec commercials)

or other costly mass selling methods topromote their products and services?

CLASS DISCUSSION


13/16

Short Video

What's Up-to-Date in Advertising?

New ways to grab consumers' attention!
http://www.businessweek.com/mediacenter/video/businessweektv/7b5c56c7c4fe861ff222f185283c93bc355e0236.htmlhttp://www.businessweek.com/mediacenter/video/businessweektv/7b5c56c7c4fe861ff222f185283c93bc355e0236.html


14/16

New developments in Promotion

Mix

More online web advertisements (Examples ofonline advertising include contextual ads on search engine results, bannerads, on-line classified advertising , rich media / video ads, email marketing,including e-mail spam.

see story Mobile (cell phone) advertising

Use of social blogs for promotion

(social media marketing) throughTwitter, Facebook, Myspace, etc.seestory

YouTube on-line video ads
http://en.wikipedia.org/wiki/E-mail_spamhttp://www.nytimes.com/2009/11/11/business/media/11adco.htmlhttp://www.businessweek.com/magazine/content/08_22/b4086044617865.htm?chan=magazine+channel_special+reporthttp://www.businessweek.com/magazine/content/08_22/b4086044617865.htm?chan=magazine+channel_special+reporthttp://www.businessweek.com/magazine/content/08_22/b4086044617865.htm?chan=magazine+channel_special+reporthttp://www.businessweek.com/magazine/content/08_22/b4086044617865.htm?chan=magazine+channel_special+reporthttp://www.nytimes.com/2009/11/11/business/media/11adco.htmlhttp://en.wikipedia.org/wiki/E-mail_spamhttp://en.wikipedia.org/wiki/E-mail_spamhttp://en.wikipedia.org/wiki/E-mail_spam


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Chapter 16

Practice Quiz


16/16

Lecture

Chapter 17
http://../Lecture%20PPTs%20-%20Chap%209%20to%2018/Chapter17web.ppthttp://../Lecture%20PPTs%20-%20Chap%209%20to%2018/Chapter17web.ppt

Our Menu Tonight Chapter 17

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