Ch 12
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This document discusses key concepts around developing and managing brands and product categories. It defines what a brand is and different types of brands. It also covers brand loyalty and how it is measured. Product identification, trademarks, packaging, labeling, new product planning and development, product positioning, and product safety are also summarized. The overall purpose is to introduce important branding and product management topics.
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The document discusses branding, packaging, and labeling. It defines branding as giving a name to identify a product and its maker. Packaging protects products and makes them attractive, identifiable, convenient, and promotable. Labeling provides verbal product information and instructions. Branding, packaging, and labeling help differentiate products, build customer loyalty, and communicate important details to consumers.
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The chapter discusses key concepts in brand management including defining a brand, the importance of brands for consumers and firms, examples of strong brands, challenges and opportunities in branding, and the strategic brand management process. The strategic process involves 4 steps - identifying brand positioning and values, planning marketing programs, measuring brand performance, and growing brand equity over time. Strong brands create differentiation and value through elements such as vision, persistence, innovation and leveraging of assets.
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Ch.17
This document discusses personal selling and sales promotion. Personal selling involves interpersonal influence through in-person presentations and is used when consumers are small in number and geographically concentrated or the product is expensive, complex, custom-made or requires special handling. There are four sales channels - over-the-counter, field, telemarketing, and inside selling. Trends in personal selling include relationship selling, consultative selling, and team selling. The sales process involves prospecting, approaching customers, presenting the product, demonstrations, handling objections, closing the sale, and follow-up. Sales promotion includes tactics other than advertising to stimulate purchases, such as coupons, samples, contests, displays, and trade shows.
Ch.16
This document provides an overview of advertising, sales promotion, and public relations. It defines different types of advertising like product advertising and institutional advertising. It also discusses advertising objectives, strategies, and the process for creating advertisements. Additionally, it covers various media channels for advertising, how to select media, and how to measure advertising effectiveness. Public relations is defined as communicating with various stakeholders. Ethics in non-personal selling are also briefly addressed.
Ch.15
This document discusses integrated marketing communications and the promotional mix. It defines integrated marketing communications as coordinating all promotional activities, including advertising, direct mail, personal selling, sales promotion, and public relations to deliver a unified customer-focused message. The promotional mix includes personal selling, non-personal selling like advertising, sales promotion, direct marketing, publicity/PR, sponsorships, and electronic marketing. The document also covers objectives of promotion, the communications process, direct marketing methods, budgeting promotional activities, and measuring effectiveness.
Ch.14
This document provides an overview of the evolution and strategies of retailing. It discusses the historical progression of retail formats from trading posts to internet retailing. It also outlines the "wheel of retailing" concept where a new retailer offers lower prices, adds services as it grows, and is then supplanted by another retailer. Finally, it examines the key elements of a retailing strategy including target market selection, merchandising, pricing, location, promotion, and store atmospherics.
Ch.13
This document discusses marketing channels and logistics/supply chain management. It defines marketing channels as the system that promotes the flow of goods from producer to consumer, including ownership transfers. There are different types of channels like direct, wholesale, and dual distribution. Channel strategy decisions include determining distribution intensity like intensive, selective, or exclusive distribution. Logistics and supply chain management coordinates information and physical flow among channel members. It includes transportation, warehousing, inventory control and other physical distribution functions.
Ch 11
This document discusses product and service strategies, including different types of products and classifications. It covers:
1) Goods are tangible products that can be seen, heard, smelled, tasted or touched, while services are intangible and require interaction between the buyer and seller.
2) Products are classified based on consumer buying habits into convenience, shopping, and specialty categories which have different behavior patterns.
3) Business products are classified based on use into installations, accessory equipment, component parts and materials, raw materials, and supplies.
Ch 10
The document discusses building buyer-seller relationships through relationship marketing and customer relationship management (CRM). It contrasts transactional marketing with relationship marketing, which focuses on developing long-term partnerships. Relationship marketing involves gathering customer data to enhance satisfaction, while CRM combines strategies and tools to focus the organization on satisfying customers. The document also identifies four types of business partnerships in business-to-business marketing.
Ch 9
1. Market segmentation involves dividing the total market into homogeneous groups based on geographic, demographic, psychographic, or product-related factors.
2. Targeting involves selecting specific segments to target with marketing efforts. For example, geographic segmentation can divide the market based on location, climate, or residence type.
3. Positioning places a product in consumers' minds relative to competitors to differentiate it, such as focusing on certain benefits or a niche market.
Ch 7
Global marketing allows companies to expand profits and growth by accessing international markets for raw materials and customers. It reduces dependence on a single domestic economy. The US exports major agricultural products, machinery, computers and manufactured goods. Leading exporters include Boeing, Intel and Caterpillar. Services and retailing are also important exports, such as from American Express, Disney and Walmart. Benefits of going global include additional revenue, new consumer insights, and learning new techniques. Companies must consider international factors like culture, laws, economics and technology when developing global marketing strategies.
Ch 8
The document discusses the marketing research function and process. It covers:
1. The purposes of marketing research which include analyzing competition, gauging new product/package acceptance, and developing promotional campaigns.
2. How Charles C. Parlin helped develop the marketing research function. Technology has allowed for more data storage and simulation testing.
3. The marketing research process involves problem definition, exploratory research, hypothesis formulation, research design, data collection, and interpreting/presenting findings. Research methods can include secondary data, surveys, observations, experiments, and test marketing.
4. Conducting international marketing research presents additional challenges around language, culture, and obtaining reliable local information.
Ch 6
The document outlines the key components and objectives of business-to-business (B2B) marketing. It discusses segmenting B2B markets, the nature of business demand, and the organizational buying process. This involves multiple decision makers, is more formal than consumer buying, and may require bidding. The buying center concept and influences on purchase decisions are also examined.
Ch 4
E-business involves a wide range of internet-based business activities including e-tailing (online stores), B2B commerce, electronic data interchange, and social media marketing. E-marketing uses computer and internet technologies to create, promote, price and distribute goods to target markets online. It offers benefits like global reach, personalization, interactive and real-time marketing. B2B e-marketing makes business transactions more cost effective while EDI facilitates exchange of documents like invoices between businesses. B2C e-marketing involves direct online sales to consumers with advantages of competitive pricing, convenience and personalized service. Typical online buyers are affluent and educated, and popular product categories sold online include travel, software, cars and app
Ch 5
This document discusses various cultural, social, and personal influences on consumer behavior. It covers cultural influences like values, beliefs, and subcultures. Subcultures discussed include Hispanic Americans, African Americans, and Asian Americans. Social influences like reference groups, social classes, and opinion leaders are also examined. Family influences on consumer decisions are explored such as autonomous, husband dominant, wife dominant, and syncratic styles. Personal determinants of consumer behavior like needs, motives, perceptions, attitudes, and the consumer decision process are summarized as well.
Ch 3
This document summarizes key aspects of a company's marketing environment including competitive, political/legal, economic, technological, and social/cultural factors. It discusses how each element can influence an organization and provides examples. Marketing ethics and social responsibility are also covered, emphasizing the need for marketers to balance profitability, consumer satisfaction, and social well-being.
Ch 2
Strategic planning involves determining long-term objectives and courses of action at the top management level, while tactical planning focuses on shorter-term and more specific activities overseen by middle management. Marketing planning begins with establishing a mission statement and objectives at the corporate level before assessing strengths, weaknesses, opportunities, and threats through a SWOT analysis. An effective marketing strategy identifies a target market and uses elements of the marketing mix like product, distribution, promotion, and pricing to satisfy customer needs.
Ch 1
This document provides an overview of key marketing concepts. It defines marketing as creating and delivering value to customers through product development, pricing, promotion, and distribution. It also discusses the evolution of marketing from a production focus to today's customer-centric approach. New areas discussed include relationship marketing, overcoming "marketing myopia," and expanding traditional boundaries to include non-profits and places. The impacts of technology and tools for interactive marketing are also summarized.
Ch.18 And 19
The document discusses various concepts and strategies related to pricing, including legal considerations like the Robinson-Patman Act. It outlines different pricing objectives such as profit maximization and market share goals. Methods for determining price are examined, including cost-oriented analysis and supply/demand factors. Elasticity and its impact on pricing decisions are defined. Various pricing strategies like skimming, penetration, and everyday low pricing are presented. The document also covers pricing determinants in practice and pricing policies involving psychological factors.
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Ch 12
- 1. Developing & Managing Brand & Product Categories Intro to Marketing Ch.12
- 2. Managing Brands How are products identified? brand, logo, song, color creating and protecting a strong identity for products and product lines is very important.
- 3. What is a Brand? Name, term, sign, symbol design, or some combination of these used to identify the products of one firm from another. Consumers respond to branding by making repeat purchases of the same product.
- 4. Brand loyalty measured in three ways: Brand Recognition Consumer awareness & identification of a brand Stage of brand acceptance where consumer knows of a brand but doesn’t prefer it to competing brands. The first objective for new products Brand Preference - it will be chosen over competitors’ brand Brand Insistence - substitutes will not be accepted
- 5. Types of brands Generic product - black & white plain label; no advertising and no brand names pharmaceuticals Manufacture’s brand (National Brands) - owned by a manufacturer - HP, Sony, Pepsi-Cola, Dell Corn Flakes Cereal
- 6. Private brands (Labels) - brand name placed on products marked by a wholesaler or retailer - usually lower priced
- 7. Captive Brands National Brands sold exclusively by a retail chain Conair Produces the Hairdryers and Curling Irons for Wal-Mart’s Captive Brand
- 8. Family brand - a brand name that identifies several products Individual brand - brand name that identifies a specific product line - more expensive than family brands to market P rocter & Gamble Both Types of brands
- 9. Product Identification Brand Names Part of the brand consisting of words or letters that can distinguish it from the competitor Must be carefully chosen for in order to avoid embarrassing translations. Should communicate a correct connotation. Should qualify for legal protection.
- 10. Brand Marks A firm’s distinguishing symbol or pictorial design. Generic names fail the test of uniqueness
- 11. Developing Global Brand Names & Trademarks An excellent brand name or symbol in one country may prove disastrous in another.
- 12. A Trademark Brand for which the owner claims exclusive legal protection. -Trademark Protection Ensures the differentiation of a brand in consumers’ mind. Allows a brand name, brand mark, or slogan to be used legally
- 13. Trade Dress Visual cues used in branding an overall look that may be related to color selections, sizes, package, label shapes
- 14. Trademarks
- 15. Packaging Three goals: Protect against damage, spoilage, and pilferage. Assist in marketing the product. Be cost-effective
- 17. Labeling Contains brand name or symbol, name and address of manufacture or distributor, composition and size, recommended use for the product. Nutrition Labeling and Education Act of 1990. - Requires detailed nutritional information. Promotional and informational, very important part of the package Unsubstantiated or misleading claims on product labels risk fines or lawsuits UPC code RFID Tags may replace UPC
- 18. New Product Planning A steady flow of new product entries must be available if the firm is to survive. Product Failures
- 19. Product Positioning Consumers perception of a products attributes, uses, quality, & benefits. Cannibalization Loss of sales of a current product due to competition from a new product in the same line.
- 20. Consumer Adoption Process - Adopter Categories Based on Relative Times of Adoption
- 21. New Product Development Process Idea Screening Business Analysis Development Test Marketing Commercialization
- 22. Product Safety Growth in the number of product liability lawsuits. Safety warnings appear on labels True examples: Sears hair dryer: Do not use while sleeping Fritos bag: You could be a winner! No purchase necessary. Details inside Sainsbury’s Peanut bag: Warning: Contains nuts Nytol Sleep Aid: Warning: May cause drowsiness Boot’s Children’s Cough Medicine: Do not drive or operate heavy machinery