Essentials of Marketing
Wharton School – University of Pennsylvania
Marketing Plan Template
Consumers Competitors Company Collaborator
Step 1: Marketing Analysis 4C’s
Step 2: Positioning
Step 3: The Marketing Mix – The 4P’
●Point of Difference
●Frame of Reference
● Who is buying your product and for what purpose?
● Positioning may change over time.
○ Customer perceptions
○ Customer wants
Who am I going after?
Why should they buy the
Who am I stealing the business
Lifetime Value of Customer (LTVC)
●Why Customers are profitable over time?
●Develop a buyer decision making model –
which product , which seller ?
●Identify the rate limiting steps
The greatest danger to a
company is the inability to
Profit Strategy Checklist
● Increase Unit Volume
○ Increase primary demand (Develop new products, Target new segments)
○ Manage brand Switching (keep customers loyal, Steal new customers from
○ Increase purchases by current customers ( Increase usage rate, trade-ups and
● Increase prices
○ Increase Value for the customer ( Higher benefits , lower transaction costs)
○ Decrease price Sensitivity ( Communicate quality , target upscale segments)
● Decrease Costs
○ Decrease Fixed costs ( less advt. expenses , R&D )
○ Decrease Variable Costs ( Improve negotiations with
●Important to invest in brand
●Go where you are strongest.
●Regularly measure and manage brand
●Have the brand value on your balance
Relationship with Customers
Where does network Solutions want to be ?
● Best Friends
● WorkMates ● Drinking
Effect of Transgressions on Brand
● Expectations are higher for Sincere brands.
● In the absence of transgressions Sincere brands have Higher Trust over
● Post recovery of Trust and Expectations after transgression is higher for
What should companies do ?
●Repair identified deficiencies
●Balance introduction vs. growth vs.
●Develop committed partnerships vs casual
● Emergence of brand communities
○ Specialized non-geographic bound community based on a set
of social relationships among admirers of a brand
● Customer to customer communities
○ Customers are brand missionaries
○ Customer communities are more forgiving of transgressions
● Risks of brand Communities
○ Communities may not like company decisions
○ Marketers have no control over community
○ Competitors can snoop on communities.
○ Nurturing brand communities is time consuming
●Cluster analysis.( Attributes , Attribute levels, Part-
●Approaches to segments
●Margins , size and ability to reach markets
○Emergence of new channels
■Cars sold on the internet
○Wholesalers changing roles
■Do a variety of other functions like sales etc.
○Consolidating from regional to national.