Basic marketing models

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Basic marketing models

  1. 1. What is Marketing?… the process to ofidentifying, stimulatingand satisfying customergenuine wants andneeds. ..
  2. 2. Marketing Theory History Production Selling Marketing Relationship“Feature based “Benefit based “Positioning in Building product focus” customer wants the customer’s “Building lasting and needs” Mind through ties to retain Branding and customers use of customer through input” applying personal selling to mass markets with Make customers brand loyal technology” Create corporate equity Retain channel power Pull customers to the point of purchase Think needs not products within core competencies
  3. 3. Basic Marketing Frameworks Marketing environment Communications process Message effectiveness model Customer qualification pyramid Stages of buying Product diffusion/adoption Competitive positioning MC* strategic development *Marketing Communications
  4. 4. Marketing Environment Political-Legal Technological c t Pr du ici o Pr Competitive ngAlso public Targetrelations and Market n Pr iopolitics o ut m ib ot str io n Di Economic Social-CulturalFrom Marketing by Richard Sandhusen, Barron’s, 2000, 82.
  5. 5. Communications ProcessSender Encoding Message Decoding Receiver Media
  6. 6. Message Effectiveness Model Received – target the right audience Attended to – break through the clutter Understood – language, graphics, symbols Believed – authenticity,trusted authority or brand Remembered – repetition, visualization, brand Acted upon – ask for the sale, call to action
  7. 7. Stages of Buying “Hierarchy of Effects” Create awareness  Establish product recall, brand recognition and identity Create interest  Impart information, increase comprehension and knowledge for evaluation Develop desire  Create attitudes of liking and preference; positioning Create conviction  Trial use, test drive Induce action (behavior)  Adoption/purchase Reduce cognitive dissonance (behavior)  Reinforce decision to buy, filter out unfavorable data
  8. 8. Product Diffusion Model How are these segments different in motivation, attitude and behavior?EarlyAdopters:13.5% Early Late Laggards: 16% Majority Majority 34% 34% Innovators: 2.5%  Crossing the Chasm, Geoffrey Moore, 1991
  9. 9. Competitive Positioning Model Performance 1: Compete by offering better functionalityMost demanding 2: Compete with improvements in reliability & trust Main stream 3: Compete with 4: Compete on aLeast demanding convenience: speed, price basis responsiveness, custom. Time Clayton Christensen. (2000). After the Gold Rush. Innosight, LLC
  10. 10. Competitive Positioning Model Performance 1: Compete by offering better functionalityMost demanding 2: Compete with improvements in reliability & trust Main stream 3: Compete with 4: Compete on aLeast demanding convenience: speed, price basis responsiveness, custom. Time Clayton Christensen. (2000). After the Gold Rush. Innosight, LLC

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