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Chapter 8

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Chapter 8

  1. 1. CHAPTER 8 DISCUSSION QUESTIONS1) Define marketing.2) What % of small business owners say that their companies do not need marketing because their products/services sell themselves? 3) Define guerrilla marketing strategies. 4) What 4 objectives should a guerrilla marketing plan accomplish? 5) Define target market. 6) What do most marketing experts contend is the greatest marketing mistake most small businesses make? 7) To be customer-driven, an effective marketing strategy must be based on what? 8) What is the vehicle for gathering the information that serves as the foundation for the marketing plan? 9) Why cant small companies afford to make marketing mistakes? 10) What are the 4 steps to successful market research? 11) Define individualized (1-to-1) marketing.
  2. 2. SHOULD A BRAND APPEAL TO EVERY TYPE OF CONSUMER?
  3. 3. TO BE SUCCESSFUL, SHOULD A BRAND APPEAL TO EVERYBODY?•85% OF BEER SOLD INAMERICA IS LIGHT LAGER. •BEST SELLING BEER IS 60•BUDWEISER IS A 5% ABV & MINUTE IPA.11 IBU LIGHT AMERICAN-STYLE LAGER. •6% ABV & 60 IBU.•IT IS MADE WITH UP TO 30% •$8.99/6 PACK BOTTLES.RICE.•$5.99/6 PACK CANS.
  4. 4. IT DEPENDS ON HOW YOU DEFINE “SUCCESS.”-BUDWEISER, & MOST BIG BREWERIES, IS SUCCESSFUL IN SALES BUT THEYARE NOT SUCCESSFUL IN CREATING A QUALITY PRODUCT.-DOGFISH HEAD, & MOST CRAFT BREWERIES, IS SUCCESSFUL IN CREATING AQUALITY PRODUCT BUT COMPARED TO BUDWEISER NOT IN SALES.-A SMALL BUSINESS SHOULD BE MORE CONCERNED WITH PROVIDING AQUALITY PRODUCT/SERVICE & STAYING TRUE TO THAT PRODUCT/SERVICE.-CREATE THE PERCEPTION THAT THERE IS NO OTHER COMPANY/PRODUCTON THE MARKET LIKE YOURS.
  5. 5. BRANDING-THE EFFORTS INTENDED TO IDENTIFY THE GOODS & SERVICES OF ONE SELLER & TODIFFERENTIATE THEM FROM THOSE OF OTHER SELLERS.-IT’S ABOUT GETTING PROSPECTIVE CONSUMERS TO SEE YOU AS THE ONLY ONE THATPROVIDES A SOLUTION TO THEIR PROBLEM.-SIMILAR TO BRANDING ON THE RANCH.-USED TO DIFFERENTIATE YOUR COMPANY (COW) FROM ALL OTHER COMPANIES (CATTLE).-USED BY CORPORATIONS TO CREATE UNIQUE & ATTRACTIVE PERSONALITIES FORTHEMSLEVES.-CORPORATIONS’ BRAND IDENTITIES ARE PERSONIFICATIONS OF WHO THEY ARE & WHERETHEY’VE COME FROM.-IT IS ABOUT CREATING & EVOLVING CUSTOMER PERCEPTIONS OF THEMSELVES.-ENABLES THEM TO CREATE INTELLECTUAL & EMOTIONAL BONDS WITH THE GROUPS THATTHEY DEPEND ON: -CUSTOMERSS & EMPLOYEES
  6. 6. BRAND DRIVERS-SLOGANS, LOGOS, SYMBOLS, MACOTS, CELEBRITYENDORSEMENTS, ETC. TO REINFORCE “HUMANQUALITIES.”

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