7/30/2019 Notes MKTG 353 November 13

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Rafael AlemanMKTG 353

November 13, 2012

Review of TeraData presentation.BSI Teradata on YouTube8 videos about 6 minutes each.

Overview of presentation on Friday.Glimpse of what is happening in real world of marketing

Strategies being used, strategic thinking. Higher level of strategic thinking, you can move up faster in yourcompany if you are able to show your abilities.

Recommended : Sit down and watch all episodes. You can use the episodes in your interviews to showyour creativity, intelligence and business savvy.

Memorize and be able to tell stories.

Focus on strategy, how do you make higher levels of thinking?

What are some important things you remember from the semester?Keywords for SEO maximizationMake sure you understand tools to do your sales estimate and sales forecast.

Using demographics information and remember resources you can use (MRI, Census, ACS,Tapestry andPRIZMRemembering social analytics

A student picked up in 3 months the information on Social media and Analytics.The industry does not have enough people that can do that.

Videos: 3 minute video on Social Media6 minute video about Social Media for Final (the words for AdWords)

CSRIconsumer spending information.

KEEP ALL YOU HAVE LEARNED IN YOUR TREASURE BAG.All you have learned is on your treasure bag but new module will show on Final.

If you own your own business you will be in retail marketing.Price your product to cover cost and make money to support

Most popular way to price is Cost plus pricingjust make sure to cover their cost.They are not very intelligent to bYou add a certain margin.

Price _______________

$ Margin markup (markon)

Cost ___________________

Retail - Margin % on priceManufacturer - Margin % on cost

Retailers are in direct contact with customers, they know close competition to be charging.The cost can always be negotiated between suppliers.

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The cost is more flexible. The retailers use margin of price

Margin Analysis and Breakeven: Readings and Exercises

60 on price25 cost

Margin is similar to unit contribution. Is same idea as retail markup.

Guidelines for channel margin decisions:Formula:

1. Margin % on Price = (Price-Cost)/Price *100%2. Margin % on Cost = (Price-Cost)/Cost *100%3. Manufacturer Price = Cost * (1 + Margin % on Cost)4. Retail Price = Cost / (1 - Margin % on Price)

THE FOLLOWING WILL BE ON THE FINAL!

1. Complete the following table using the data in the case.

Channel Level Cost Margin SellingPrice

Markup%on Cost

Markup%on Price

Manufacturer

Wholesaler

Retailer

2. Assume that SwimMaster expects a 160% markup on manufacturingcost to cover overhead and profit. Also assume that the wholesaler's20% markup is based on its costs rather than its selling prices. Can the product still be priced ina way that will keep each channelmember satisfied? Explain.

Channel Level Cost Margin SellingPrice

Markup%on Cost

Markup%on Price

Manufacturer

Wholesaler

Retailer

https://moodle.fullerton.edu/mod/resource/view.php?id=569276https://moodle.fullerton.edu/mod/resource/view.php?id=569276https://moodle.fullerton.edu/mod/resource/view.php?id=569276https://moodle.fullerton.edu/mod/resource/view.php?id=569276

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120 =

Cost = 120 * (1- MP%)

Use work sheets as a template and just put in new number to find the answers.

Use:2. Retail Price = Cost / (1 - Margin % on Price)

You will have price listing on the Final Very important in your job.

BPI included on Final Exam.

Even after saying she will have this on exam 70% of students still get it wrong.

So make sure you practice.

Many people will say they will review but dont and bomb the tests.

Many students are hired by Black and Decker, Nestle and other companies that visit the school.Selling it to the wholesaler and the retailers.You must understand whole channel pricing.You have to price it correctly.

On the test we will focus on the product and how to price to wholesaler, retailer and others.

Thursday we will have a female professional as Professor for a day and then take a picture.

We will begin lecture again after returning from one week vacation.