Goodyear_Aastha Sneha_PGP31123
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Presentation on Goodyear's partnering lessons, as part of Brand Management course in IIM Lucknow by Prof Sameer Mathur
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2. In the 1970s-1980s, Goodyear had strong dealer relationships and sales but sales declined in the 1990s-2000s due to channel conflict.
3. Channel conflict occurs when channel partners compete against each other or a company's internal sales, undermining relationships and sales. Goodyear faced this by offering discounts to retailers, breaking promises to dealers.
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The more loved a brand, the more powerful the brand and in turn, the more profitable the brand. This will help the brand manager be better at driving profit for their brand.
Goodyear
Goodyear damaged its reputation in the 1990s through poor distribution channel management. It offered inconsistent pricing to dealers, fulfilled only 50% of dealer orders, and gave bulk discounts to big retailers, alienating smaller dealers. As a result, dealers complained and switched to other brands, hurting Goodyear's sales. To regain dealer loyalty and sales, Goodyear needs to offer fair and consistent pricing, compensate dealers adequately, and keep distributors informed and satisfied. When distributors are happy, the supply chain runs smoothly, consumers remain happy, and the manufacturer profits.
Distribution channels for beginners presentation mar2015
A quick overview of distribution channels focusing on key aspects for a new or small company with limited funding. Direct vs Indirect. Who has the power, what kind and how to manage. How to price within the channel.
Market orientation, relationship marketing and brand equity. The study of ind...
Presentation given at the 3rd International Consumer Brand Relationships Conference, www.consumer-brand-relationships.org
Copyright by
Noor Hasmini Abd Ghani, Universiti Utara Malaysia, Malaysia
Osman Mohamad, Multimedia University, Malaysia
Retail marketing
This document discusses sales promotion strategies. It begins with defining sales promotion and explaining how it differs from advertising. Some key points made include:
- Sales promotion aims to achieve short-term sales goals through temporary incentives while advertising focuses on long-term brand building.
- Increased competition has led companies to rely more on sales promotions to differentiate their brands and capture market share.
- Consumers have become more price sensitive, expecting promotions and deals, which has further fueled the growth of sales promotion strategies.
- Both advertising and sales promotions are important for marketing success, though they serve different purposes and timeframes. When used together effectively, they can boost sales.
ch14 PROMOTION AND PRICING in marketing management
This document outlines key concepts related to promotion and pricing strategies. It discusses integrated marketing communications, the promotional mix, and different types of promotional tools including advertising, sales promotion, personal selling, and public relations. It also describes pushing and pulling promotional strategies. Finally, it outlines different pricing strategies and how firms set prices, and discusses consumer perceptions of price.
Retail-marketing
This document discusses sales promotion strategies used by various companies. It begins with an introduction to sales promotion, including definitions and advantages. It then discusses techniques used in consumer promotions, including those targeted at children. Several companies' sales promotion strategies are examined, including McDonald's, Cadbury, Britannia, Camlin, and Frito Lays. Regional differences in strategies are also mentioned. The overall purpose is to study sales promotion strategies for children adopted by various companies to increase sales.
Make Your Brand Voice Heard
Everyone is clamoring for the attention of your customers, and the commotion is making them tune out. How do you cut through all of the racket so you can reach the people who actually want what you have to offer? We surveyed 150 marketers to find out, and the results are in The State of Customer Acquisition, a report that outlines the strategies and tactics they found most effective.
Hear from TOMS’ Director of Customer Experience, Stacy Carpenter, and SheerID’s Vice President, Bill Schneider, for a 45-minute webinar in which they share the report’s top findings and discuss:
* New techniques to differentiate your message
* Which type of promotions are most effective and why
* How to lower your customer acquisition costs
Brand Equity Vs Consumer Equity
Brands Exist to Serve Customers, Not the other way around. But you’d never know that from the way Brands are Managed. But are we acting in Customer focused way or Brand focused way ? Brand Management still trumps Customer Management in most large companies and the focus is increasingly incompatible with Growth. Brand should be in the service of the larger goal: growing customer equity
Sales Promotions
Sales promotions aim to increase immediate sales, gain trade support, and support the sales force. They are widely used due to pressure to quickly boost sales and because they can easily target consumers, trade partners, and salespeople. Common consumer promotions include coupons, rebates, samples, and contests which are flexible and can be combined to meet objectives. Trade promotions target wholesalers and retailers through point-of-purchase displays, trade shows, retailer kits, and incentives to gain merchandising support and distribution. Loyalty programs aim to increase retention through rewards while sponsorship and events associate brands with lifestyles.
Goodyear tire and rubber company
Goodyear Tire and Rubber Company is considering selling their tires through Sears retail channels to access more price-sensitive consumers. This would provide a private label, low-cost tire option for customers who are already loyal to Sears. While it could undermine Goodyear's brand, partnering with Sears may help regain the 2 million tires they lost annually to competitors by offering tires through a trusted retailer. The best decision is to accept Sears' proposal but only sell one Eagle brand tire to prevent cannibalizing other dealer sales and damaging the Goodyear brand.
US Grocery Retail Perspectives
Wilson Perumal & Company is a management consultancy that works with grocery retailers. They have identified 5 key trends shaping the industry: 1) Demographic shifts require extensive localization from retailers; 2) Online grocery sales are growing rapidly, creating opportunities and challenges around omni-channel integration; 3) Traditional promotional strategies are becoming less effective at driving sales lifts, requiring innovation in promotions and more efficient execution; 4) Personalized customer experiences and value-added services are becoming expected by consumers as retailers gain more consumer data insights; 5) Contraction and consolidation among large grocery chains requires an update to operating models. The document discusses each trend in more detail and its implications for retailers.
Sales promotion thomas hil
This document discusses sales promotion, which is one aspect of a company's promotional mix that targets consumers to incentivize purchases. Sales promotion aims to stimulate immediate demand and can include tactics like free samples, contests, premiums, coupons, and loyalty programs. The goals are to either lower the perceived price of a product or add value to drive demand. Sales promotion is typically a short-term tactic that is cheaper and easier to measure than advertising. Marketers must understand their target consumers and goals to select the most effective promotional tools.
Sales promotion final
This document discusses sales promotion strategies and tools. It outlines objectives of sales promotions such as gaining market share, expanding the target market, and generating short-term cash. Pull and push strategies are described, with pull strategies targeting consumers and push strategies directing efforts at resellers. Common sales promotion tools include prizes, samples, catalogs, and price discounts. The document also covers testing sales promotions and providing guidelines for effective promotional campaigns.
Sales promotion thomas hill
This document discusses sales promotion, which is one aspect of the promotional mix that incentivizes consumers to purchase a product or service. Sales promotion targets customers, sales staff, and distribution channels. It is usually a short-term tactic to stimulate demand. Common sales promotion techniques include free samples, contests, premiums, trade shows, coupons, and loyalty programs. The goals are to either lower the perceived price of a product to increase demand or add value to encourage purchase. Sales promotion is typically cheaper and easier to measure than advertising. Marketers must understand their target consumers and select appropriate promotional tools to influence specific consumer behaviors.
Promotion ans Pricing
This document outlines key concepts related to promotion and pricing strategies. It discusses integrated marketing communications, the promotional mix, and objectives of promotion. It describes different types of advertising, sales promotion, personal selling, and public relations. It also outlines pushing and pulling promotional strategies and different types of pricing strategies, including how firms set prices and consumer perceptions of price.
US Grocery Retail Perspectives
Wilson Perumal & Company analyzed key trends shaping the grocery retail industry. Five trends were discussed: 1) Demographic shifts require extensive localization from retailers; 2) Online grocery sales are growing rapidly, creating opportunities and challenges around omni-channel integration; 3) Traditional promotional strategies are becoming less effective at driving sales lifts, increasing the need for promotional innovation and efficiency; 4) Personalized customer experiences and direct communication are becoming expected as consumers are accustomed to "free" extras; 5) Contraction of large grocery chains requires an updated operating model. The document provides perspectives on these trends and their implications for grocery retailers.
All of these questions are answered I just need you to read the an.docx
All of these questions are answered I just need you to read the answers, understand them and paraphrase them in your own way with keeping the same idea. Just rewrite it with the same idea but in a different phrase than these.
Essay Questions:
1. Identify and discuss reasons why firms become so infatuated with pricing. Why is pricing given a great deal of attention?
Answer/ ANS:
There is no other component of the marketing program that firms become more infatuated with than pricing. There are at least four reasons for the attention given to pricing. First, the revenue equation is pretty simple: Revenue equals the price times quantity sold. There are only two ways for a firm to grow revenue: increase prices or increase the volume of product sold. Rarely can a firm do both simultaneously. Although there are literally hundreds of ways to increase profit by controlling costs and operating expenses, the revenue side has only two variables—one being price and the other being heavily influenced by price.
A second reason that firms become enamored with pricing is that it is the easiest of all marketing variables to change. Although changing the product and its distribution or promotion can take months or even years, changes in pricing can be executed immediately in real time. Likewise, product, distribution, or promotion changes can also be quite expensive, especially if research and development (R&D) or production must be rescheduled. Conversely, changing prices is a very low-cost option.
The third reason for the importance of pricing is that firms take considerable pains to discover and anticipate the pricing strategies and tactics of other firms. Salespeople learn to read a competitor’s price sheet upside down at a buyer’s desk. Retailers send “secret shoppers” into competitors’ stores to learn what they charge for the same merchandise. In this age of e-commerce, tracking what competitors charge for their goods and services has become so daunting that an entire price-tracking industry has emerged.
Finally, pricing is given a great deal of attention because it is considered to be the only real means of differentiation in mature markets plagued by commoditization. When customers see all competing products as offering the same features and benefits, their buying decisions are primarily driven by price.
Having a solid understanding of these issues is important because far too many firms and their managers use a seat-of-the-pants approach to pricing by guessing the best price for their goods and services. Guessing is never a good strategy in marketing; it can be downright deadly when it comes to setting prices.
2. In many (if not most) circumstances, cutting prices to increase sales volume is not a good idea. Explain why this is so. What are some alternatives that are preferable to cutting prices?
Answer/ ANS: All marketers understand the relationship between price and revenue. However, firms cannot charge high prices without goo.
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Goodyear_Aastha Sneha_PGP31123
- 2. Brands aren’t built on their own! PESTEL changes Marketing has a new perspective Integrated marketing approach Product, price, channel strategies to build brand
- 3. Traditional 4 p’s marketing mix concept not enough in modern day marketing • Experiential • Mass customization • Relationship • One-to-one • Permission New approaches to marketing
- 4. Product strategy The heart of brand equity, the product itself should create strong, favourable, unique brand associations, achieved through: 1 Perceived quality Aftermarketing
- 5. Pricing strategy Set prices and adjust them to build brand equity, possibly through: 2 Value pricing Building consumer price perception Everyday low pricing
- 6. Channel strategy Marketing channel design can impact how a brand is perceived 3
- 7. “ MARKETING CHANNELS are defined as sets of interdependent organisations involved in the process of making a product or service available to the consumer
- 8. Types of distribution channels Direct Channels •Personal contact •Mails/phone/ catalogues •Company owned stores •Store-in-store Indirect Channels •Push/pull strategy •Channel support •Retailer segmentation •Cooperative ads Online Strategies •Integrated channels •Internet kiosks in stores •Multichannel approach
- 9. A little background before the Goodyear story.. Retailer power Retailers and other middlemen in the distribution channel have great powers to affect brand equity
- 10. Goodyear ◦ An overview ◦ Where did it go wrong?
- 11. 1839, Charles Goodyear accidently discovered vulcanized rubber 1898, the Goodyear Tire & Rubber Company formed 1912, the first blimp introduced 1916, the world’s largest tire company
- 12. Goodyear had built a strong brand image over the years, with the largest reseller network in the US On-time deliveries Compettitve pricing Visible marketing (Blimps) Combination of these factors
- 13. “ “It was just too hard to do business with Goodyear” “You'd buy a tire from them one month, and the next month the price would be 20 percent lower or higher” Dealerspeak “Bridgestone has better product, stable prices, and a good delivery system” BUT THEN…
- 14. Where did Goodyear go wrong? “Goodyear took its eye off independent dealers, but independents are the company's greatest sales force” -Industry journal ‘Tire Business.’
- 15. Possible reason: There was a possible hostile takeover bid by James Goldsmith in 1986 Goodyear was pressurized to boost sales, with a debt of $1 bn to thwart the takeover Hence was forced to sell through big retailers and mass merchandisers Unfair pricing Dealers were paying as much as customers in retail stores This resulted in: Unreliable order fulfilment The "fill rate"— no. of tires dealers receive divided by number they ordered—has been as low as 50% (90% is the standard.) Poor product quality Bulk discounts to big retailers
- 16. Channel conflict Proliferation of discount stores Cannibalization of one channel by another Goodyear made a pact with Sears, Walmart and Sam’s Club Pitting dealer against powerful retailers
- 17. The numbers speak for themselves 5300 authorized retailers in the US Dealers sell 3 out of 5 replacement tires in the US 2001 to 2003, replacement tire sales grew by 7% 2001 to 2003, Goodyear’s replacement tire sales fell by 11 million units (14%) Replacement tires accounted for 70% of the firm’s revenues @$50 per tire, loss of $550 million
- 18. New CEO post 2003, Robert Keegan The company is acknowledging the dealer problem Dealers are now organized through a few wholesalers Prices unified, fill rates improved Sale of Assurance tires exclusively through dealers Production capacity increased
- 19. There is still a long way to go Pull strategy Extensive promotions to bring customers Balance in channels
- 20. Merchandise sale to attract customers
- 22. Summary • Today’s aware consumers require much more than focus on just the 4 P’s • Price, product and channel strategies also play a role in building brand equity • Channel conflict situations may arise and may shake even the most experienced players in the market • Maintaining a fine balance is as much an art as science
- 23. Disclaimer This presentation was created as part of the Brand Management course taught at IIM Lucknow by Prof Sameer Mathur