Introduction to Marketing - Session 2 at ITM, Mumbai. Includes:
Targeting
What is good marketing research?
Marketing research Questions
Types of information
Types of market research
Market research summary
Test Market
Define Target Audience
Estimate market potential
Analyze market share/share of customer
Track competitors
Identify market characteristics & trends
Analyze sales data
Sales forecasting: Existing / new products
Product
• Product Strategy
• Product Essentials
• Features and Benefits
• Classifying products
• Product line and mix
• Branding
• Packaging and LabellingTrademarks
Positioning and Brand Building
• The Art of Positioning is Marketing
• Positioning the game of Mind and Heart
• Brand is a Promise
• Brand is owned by Customers
• Understanding Brand Drivers
• Brand Attributes
• Brand Architecture
• The Positioning Template
Distribution
Direct and Indirect Selling Channels
Types of Intermediaries: Direct Channel
Types of Intermediaries: Indirect Channel
Channel Development
Channel Adaptation
Channel Decisions
Marketing of Industrial Product also called:(B2B)
Definition
Differences Between B2B and B2C
• Products/Services being marketed
• Nature of demand
• How the customer buys
• Communication process
• Economic/Financial factors
• Relationship Marketing
Marketing of Services
What is a service?
Difference between goods and services
Intangibility Inseparability, Heterogeneity and Perishability
Services -
Business Services, Health Services, Professional Services and
Hospitality Services
• The role of marketing in a service firm
Sales and Field Force Management
• Sales Management defined
• Task and goals of the sales
• Sales Management Model
• Sales Management Trends
• Transaction Selling vs Relationship Selling
• Recruiting and Managing the field team
• Time and Territory Management
Personal Selling
The most important promotional tool in B2B marketing
Transaction/relationship is often too complex to consummate without personal interaction between marketer and buyer.
Boundary Spanner
Customers are sophisticated and you need a long-term relationship to be successful.
B2B sales cost more than B2C selling
Session two of my classes at ITM Executive MBA for Marketing Strategy. This covers Product & Branding Strategy including Theory & speaker notes provides some examples too.
ntroduction to Marketing - Session 3 at ITM, Mumbai. Includes:
Promotion and Advertising
• Promotional activities
o Trade shows, sponsorship, trade-fairs, contests, coupon programme, community projects
• Advertising
o TV, radio, trade magazines, direct mailing, billboards, packaging, internet
• Public Relations
o Relationships with media, customer’s community, public speaking, research
• Personal Selling
o B2B and B2C
• Marketing Accessories
Brochures, newsletters, fliers, give-aways
Pricing and Distribution
Price is unique among the 4 Ps in that it directly affects the company’s revenues and profits.
Pricing is both a science and an art
Pricing seems to be the one “P” that has been dramatically affected by the use of the Internet
Pricing and Distribution
• Cost based pricing
• Value based pricing
• Premium pricing
• Discount / promotional pricing
• Price Skimming
• Psychological pricing
• Geographic pricing
• Product line pricing
The document provides an overview of marketing concepts and strategies. It begins with several definitions of marketing from different universities. It then discusses that knowing customer wants is not enough on its own for success, and that strategies and tactics are also important. The true nature of marketing today involves conflict between corporations, not just satisfying needs. The document goes on to discuss key marketing concepts like the marketing mix, relationship marketing, common marketing errors, and differences between production-oriented versus market-oriented businesses. It also covers strategic planning components and various corporate growth strategies.
This document discusses the changing nature of marketing from mass targeting to individual relationships. It notes that marketing is evolving from interruptive tools to those that engage. It provides examples of how a marketer's job has changed from 2000 to 2009, moving from maintaining websites and measuring metrics to creating content, publishing on blogs and social networks. The document recommends various marketing thought leaders and resources to stay informed and concludes that trust is essential in marketing without it, marketers have nothing.
The document evaluates the Mayo Clinic brand through analyzing a 1996 brand equity study. Some key findings include the Clinic's high brand awareness, strong associations with research and specialty care, and perception as a leader in integrity, leadership, and professionalism. However, it was seen more as for the rich/famous and as a tertiary care provider rather than primary care. In 1999, Mayo created an Office of Brand Management to protect and enhance the brand through developing guidelines and research. The conclusions were that Mayo has powerful brand equity due to excellence in care, compassion, cooperation, and commitment to knowledge. Maintaining a satisfied patient base is vital to preserving their preference.
This document outlines the key steps and levels of strategic marketing planning. It discusses corporate and division level planning, including defining the corporate mission, establishing strategic business units, and planning new/terminating businesses. It then covers business unit level planning, including conducting SWOT and environmental analyses. Finally, it discusses the marketing process and planning at the product level, including developing marketing alliances and formulating and implementing marketing programs. The overall purpose is to explain how strategic planning is carried out across different organizational levels.
This document discusses brand management and customer-based brand equity. It defines a brand and explains the challenges of brand management. It introduces the concept of customer-based brand equity and presents a pyramid model with the key dimensions of brand identity, meaning, response, and resonance. It outlines the strategic brand management process and emphasizes the importance of building strong, favorable brand associations in the minds of customers.
Distribution
Direct and Indirect Selling Channels
Types of Intermediaries: Direct Channel
Types of Intermediaries: Indirect Channel
Channel Development
Channel Adaptation
Channel Decisions
Marketing of Industrial Product also called:(B2B)
Definition
Differences Between B2B and B2C
• Products/Services being marketed
• Nature of demand
• How the customer buys
• Communication process
• Economic/Financial factors
• Relationship Marketing
Marketing of Services
What is a service?
Difference between goods and services
Intangibility Inseparability, Heterogeneity and Perishability
Services -
Business Services, Health Services, Professional Services and
Hospitality Services
• The role of marketing in a service firm
Sales and Field Force Management
• Sales Management defined
• Task and goals of the sales
• Sales Management Model
• Sales Management Trends
• Transaction Selling vs Relationship Selling
• Recruiting and Managing the field team
• Time and Territory Management
Personal Selling
The most important promotional tool in B2B marketing
Transaction/relationship is often too complex to consummate without personal interaction between marketer and buyer.
Boundary Spanner
Customers are sophisticated and you need a long-term relationship to be successful.
B2B sales cost more than B2C selling
Session two of my classes at ITM Executive MBA for Marketing Strategy. This covers Product & Branding Strategy including Theory & speaker notes provides some examples too.
ntroduction to Marketing - Session 3 at ITM, Mumbai. Includes:
Promotion and Advertising
• Promotional activities
o Trade shows, sponsorship, trade-fairs, contests, coupon programme, community projects
• Advertising
o TV, radio, trade magazines, direct mailing, billboards, packaging, internet
• Public Relations
o Relationships with media, customer’s community, public speaking, research
• Personal Selling
o B2B and B2C
• Marketing Accessories
Brochures, newsletters, fliers, give-aways
Pricing and Distribution
Price is unique among the 4 Ps in that it directly affects the company’s revenues and profits.
Pricing is both a science and an art
Pricing seems to be the one “P” that has been dramatically affected by the use of the Internet
Pricing and Distribution
• Cost based pricing
• Value based pricing
• Premium pricing
• Discount / promotional pricing
• Price Skimming
• Psychological pricing
• Geographic pricing
• Product line pricing
The document provides an overview of marketing concepts and strategies. It begins with several definitions of marketing from different universities. It then discusses that knowing customer wants is not enough on its own for success, and that strategies and tactics are also important. The true nature of marketing today involves conflict between corporations, not just satisfying needs. The document goes on to discuss key marketing concepts like the marketing mix, relationship marketing, common marketing errors, and differences between production-oriented versus market-oriented businesses. It also covers strategic planning components and various corporate growth strategies.
This document discusses the changing nature of marketing from mass targeting to individual relationships. It notes that marketing is evolving from interruptive tools to those that engage. It provides examples of how a marketer's job has changed from 2000 to 2009, moving from maintaining websites and measuring metrics to creating content, publishing on blogs and social networks. The document recommends various marketing thought leaders and resources to stay informed and concludes that trust is essential in marketing without it, marketers have nothing.
The document evaluates the Mayo Clinic brand through analyzing a 1996 brand equity study. Some key findings include the Clinic's high brand awareness, strong associations with research and specialty care, and perception as a leader in integrity, leadership, and professionalism. However, it was seen more as for the rich/famous and as a tertiary care provider rather than primary care. In 1999, Mayo created an Office of Brand Management to protect and enhance the brand through developing guidelines and research. The conclusions were that Mayo has powerful brand equity due to excellence in care, compassion, cooperation, and commitment to knowledge. Maintaining a satisfied patient base is vital to preserving their preference.
This document outlines the key steps and levels of strategic marketing planning. It discusses corporate and division level planning, including defining the corporate mission, establishing strategic business units, and planning new/terminating businesses. It then covers business unit level planning, including conducting SWOT and environmental analyses. Finally, it discusses the marketing process and planning at the product level, including developing marketing alliances and formulating and implementing marketing programs. The overall purpose is to explain how strategic planning is carried out across different organizational levels.
This document discusses brand management and customer-based brand equity. It defines a brand and explains the challenges of brand management. It introduces the concept of customer-based brand equity and presents a pyramid model with the key dimensions of brand identity, meaning, response, and resonance. It outlines the strategic brand management process and emphasizes the importance of building strong, favorable brand associations in the minds of customers.
Kotler 10 new-product development and product life-cycle strategies moghimiBahman Moghimi
This document discusses Bahman Moghimi's lecture on new product development and product life cycle strategies. It covers the objectives of understanding how companies develop new products and marketing strategies at different stages of the product life cycle. It then provides details on the major stages of the new product development process, from idea generation and screening to commercialization. It also examines the typical product life cycle framework and how marketing strategies should change during the introduction, growth, maturity and decline stages.
This document appears to be a resume or CV for Sandra Eisenberg. It includes details about her work experience including roles in marketing, product management, sales, and as a marketing consultant. It lists companies and organizations she has worked with including Microsoft, Citrix, Avaya, TechData, NCR, and Teradata. The document spans 15 pages and includes sections about her background, experience, education, and references.
Developing marketing strategies and plans(ch 2)Syed Awais
This document discusses marketing management strategies and developing a marketing plan. It covers determining customer value, strategic planning at different organization levels, and what elements a marketing plan should include. The plan development process involves situation analysis, defining objectives and strategies, identifying target markets, and selecting appropriate marketing mix elements. It also discusses assessing growth opportunities, developing goals, and contingency planning.
The document provides an overview of strategic management concepts that will be covered in the course, including defining strategic management, differentiating it from operational management, discussing various strategic approaches and frameworks, and outlining the strategic management process. It introduces key topics like the Ansoff matrix, different levels of strategy, and contributions from thought leaders. The objectives are to help participants understand strategic thinking, analyze the business environment, and discuss contemporary strategy development approaches.
This document provides an overview of key concepts in marketing, including:
1) It defines marketing orientation models like production, product, selling, and holistic marketing concepts.
2) It explains the importance of understanding customers' needs and delivering value through the value delivery process of choosing, providing, and communicating value to customers.
3) It discusses the key elements of an effective marketing plan, including mission statements, SWOT analysis, goal setting, strategy formulation, budgets/forecasts, and feedback controls.
The marketing and promotions process model has four major components: marketing strategy and analysis, target marketing process, marketing planning and program development, and the target market. It begins with developing a marketing strategy based on a situation analysis of opportunities, competitors, and selecting target markets. The company then coordinates the marketing mix and promotional strategies into a cohesive program to effectively reach the target market. Promotions play an important role in building demand among consumers and retailers.
The document discusses the role of integrated marketing communications (IMC) in the marketing process. It covers topics like target marketing, segmentation, positioning, the 4 P's of marketing (product, price, place, promotion), and push vs. pull distribution strategies. The overall process involves analyzing markets, identifying customer segments, developing marketing strategies and programs for each segment, and promoting products to final buyers through various communication channels.
This document discusses the process of developing new market offerings and products. It covers the challenges companies face in new product development, including organizational structures used and the main stages of development. The stages include idea generation, screening, concept development and testing, marketing strategy development, and development to commercialization. Key aspects of managing the development process at each stage are also outlined.
Chapter 2 developing marketing strategies and plansAamir Khan
The document discusses key concepts in marketing strategy and planning. It covers customer perceived value, the value delivery process in three stages, value chain analysis, core competencies, corporate and division strategic planning, and Ansoff's product/market matrix. The value delivery process focuses on choosing value for customers, providing that value through the marketing mix, and communicating the value. The document also discusses intensive and integrative growth strategies including market penetration, development, product development, and diversification.
Strategic marketing is defined as the management function that seeks to generate profit by organizing a company's resources to determine and satisfy customer needs better than competitors. It emphasizes profits over just sales and identifies target markets. Strategic marketing combines target markets and marketing strategies, strives for sustainable differentiation, and leads strategic planning and new product development. While marketing communications, sales, and customer service are important tactical elements, strategic marketing is the overarching management function.
Chapter 2 Developing Marketing Strategies and Plans_Grp1dyeya04
1. Marketing strategies and plans are developed to satisfy customers' needs and deliver value at a profit.
2. A marketing plan operates at both a strategic and tactical level, with the strategic plan focusing on target markets, value propositions, and opportunities while the tactical plan specifies marketing mix elements.
3. Effective strategic planning achieves marketing's goal of customer value through managing the value chain and addressing key questions around value delivery, creation, and exploration.
Top 10 questions chapter 2 developing marketing strategies and plans silubricosue_silubrico
The document discusses key concepts from marketing strategies and plans. It provides examples to explain strategic and tactical marketing plans, Porter's three generic strategies of overall cost leadership, differentiation and focus. It also defines marketing alliances and the major competitive spheres that companies operate in, including industry, geography, vertical channels, market segments and products.
The presentation introduces the strategic marketing model and walks through the process of implementation using this model for strategic marketing. A variation on this process can also be used for corporate branding engagements.
The document discusses product development and management. It covers the categories of new products, the new product development process, and product life cycles. The new product development process involves idea generation, screening, concept development and testing, marketing strategy development, product development, and commercialization. The document also outlines the stages of the product life cycle as introduction, growth, maturity, and decline. It provides strategies for marketing products at each stage of the life cycle.
This unit covers the following points:
1.VMOST
2.What does Marketing Strategy Accomplish?
3. Overview of Strategic Market management
4. Objectives of strategic Market Management
5.Business Strategy
6.Strategic Marketing Management : Characteristics and trends
7.Objective of Strategic management
8.Difference between Strategic Marketing & Marketing Strategy
9.Business Vision its components
10. BHAG
11.Understanding how the Market segments
12.An analysis of Customer Motivation
13.Exploration of unmet needs
14.The KANO MODEL
Developing marketing strategies and plans 02skillfulyards
This chapter discusses developing marketing strategies and plans at different organizational levels. It explains that strategic planning involves defining the corporate mission and strategic business units. Business unit strategic planning consists of performing a SWOT analysis, formulating goals and strategies, and developing programs. The marketing plan operates at both a strategic level by defining target markets and value propositions, and at a tactical level by specifying marketing mix elements. Coordinating departmental activities through cross-functional teams helps deliver superior customer value.
This document discusses sourcing strategies and trends in sourcing key business functions. It introduces the concept of a sourcing strategy cube that evaluates sourcing options based on ownership, location, and management approach. The document then covers trends in sourcing human resources, procurement, finance & accounting, and IT. It emphasizes that the goal of a sourcing strategy is to define what processes and functions provide strategic advantage versus those that could be outsourced to optimize costs and focus internally on core competencies. Effective sourcing requires selecting the right option in the sourcing cube and carefully managing the implementation and ongoing relationship.
Chapter 4 Conducting Marketing Research and Forecasting Demanddona_sia
Marketing research involves systematically designing, collecting, analyzing and reporting data to address marketing problems and objectives. Developing the research plan defines data sources, instruments, approaches, sampling plans and contact methods. Measuring demand involves estimating total market potential, area market potential, industry sales and market share. Forecasting future demand utilizes surveys, sales force opinions, expert opinions, past sales analysis and market testing.
Slides of my session at ITM, Mumbai. Introduction to Marketing. Session 1. Includes:
What is Marketing
Marketing Defined
Core Concepts
Marketing Process
Marketing Philosophies
Towards new marketing assumptions
Functions of Marketing
The Four 4 Ps The Marketing Variables
Market Segmenting
Identify sub-markets within market
Decide which one(s) to pursue (target)
Design marketing mix(es) to be attractive to targeted segment's
Demographics - age, race, sex, income, education
Geographic - country, state, urban/rural, climate
Psychographics -attitudes, values, beliefs, personality traits
Behavioral - benefits, usage.
Market consists of people with both the desire and ability to buy
A Marketing Information System (MIS) is designed to generate, store, and disseminate pertinent marketing information to managers. An MIS focuses on managing the flow of information from marketing research to aid in identifying, selecting, and resolving marketing problems and opportunities. It provides recurrent, monitoring, and requested information to managers in a timely and usable format. A Marketing Decision Support System (MDSS) differs from an MIS in that it allows direct manager interaction with models and data to analyze decision situations rather than just providing factual information. Common MDSS applications include sales forecasting and marketing budget allocation.
Introduction to ideas - A complete insight ( A full semester course)megasheeki
This document discusses various topics related to creative thinking and idea generation. It covers divergent and convergent thinking patterns, areas of creativity in organizations including products, processes, marketing, and organization. It also discusses the idea process, company responses to new ideas, idea profiles and traits, characteristics of creative personalities, thinking techniques like brainstorming and mind mapping, and motivation theories.
Kotler 10 new-product development and product life-cycle strategies moghimiBahman Moghimi
This document discusses Bahman Moghimi's lecture on new product development and product life cycle strategies. It covers the objectives of understanding how companies develop new products and marketing strategies at different stages of the product life cycle. It then provides details on the major stages of the new product development process, from idea generation and screening to commercialization. It also examines the typical product life cycle framework and how marketing strategies should change during the introduction, growth, maturity and decline stages.
This document appears to be a resume or CV for Sandra Eisenberg. It includes details about her work experience including roles in marketing, product management, sales, and as a marketing consultant. It lists companies and organizations she has worked with including Microsoft, Citrix, Avaya, TechData, NCR, and Teradata. The document spans 15 pages and includes sections about her background, experience, education, and references.
Developing marketing strategies and plans(ch 2)Syed Awais
This document discusses marketing management strategies and developing a marketing plan. It covers determining customer value, strategic planning at different organization levels, and what elements a marketing plan should include. The plan development process involves situation analysis, defining objectives and strategies, identifying target markets, and selecting appropriate marketing mix elements. It also discusses assessing growth opportunities, developing goals, and contingency planning.
The document provides an overview of strategic management concepts that will be covered in the course, including defining strategic management, differentiating it from operational management, discussing various strategic approaches and frameworks, and outlining the strategic management process. It introduces key topics like the Ansoff matrix, different levels of strategy, and contributions from thought leaders. The objectives are to help participants understand strategic thinking, analyze the business environment, and discuss contemporary strategy development approaches.
This document provides an overview of key concepts in marketing, including:
1) It defines marketing orientation models like production, product, selling, and holistic marketing concepts.
2) It explains the importance of understanding customers' needs and delivering value through the value delivery process of choosing, providing, and communicating value to customers.
3) It discusses the key elements of an effective marketing plan, including mission statements, SWOT analysis, goal setting, strategy formulation, budgets/forecasts, and feedback controls.
The marketing and promotions process model has four major components: marketing strategy and analysis, target marketing process, marketing planning and program development, and the target market. It begins with developing a marketing strategy based on a situation analysis of opportunities, competitors, and selecting target markets. The company then coordinates the marketing mix and promotional strategies into a cohesive program to effectively reach the target market. Promotions play an important role in building demand among consumers and retailers.
The document discusses the role of integrated marketing communications (IMC) in the marketing process. It covers topics like target marketing, segmentation, positioning, the 4 P's of marketing (product, price, place, promotion), and push vs. pull distribution strategies. The overall process involves analyzing markets, identifying customer segments, developing marketing strategies and programs for each segment, and promoting products to final buyers through various communication channels.
This document discusses the process of developing new market offerings and products. It covers the challenges companies face in new product development, including organizational structures used and the main stages of development. The stages include idea generation, screening, concept development and testing, marketing strategy development, and development to commercialization. Key aspects of managing the development process at each stage are also outlined.
Chapter 2 developing marketing strategies and plansAamir Khan
The document discusses key concepts in marketing strategy and planning. It covers customer perceived value, the value delivery process in three stages, value chain analysis, core competencies, corporate and division strategic planning, and Ansoff's product/market matrix. The value delivery process focuses on choosing value for customers, providing that value through the marketing mix, and communicating the value. The document also discusses intensive and integrative growth strategies including market penetration, development, product development, and diversification.
Strategic marketing is defined as the management function that seeks to generate profit by organizing a company's resources to determine and satisfy customer needs better than competitors. It emphasizes profits over just sales and identifies target markets. Strategic marketing combines target markets and marketing strategies, strives for sustainable differentiation, and leads strategic planning and new product development. While marketing communications, sales, and customer service are important tactical elements, strategic marketing is the overarching management function.
Chapter 2 Developing Marketing Strategies and Plans_Grp1dyeya04
1. Marketing strategies and plans are developed to satisfy customers' needs and deliver value at a profit.
2. A marketing plan operates at both a strategic and tactical level, with the strategic plan focusing on target markets, value propositions, and opportunities while the tactical plan specifies marketing mix elements.
3. Effective strategic planning achieves marketing's goal of customer value through managing the value chain and addressing key questions around value delivery, creation, and exploration.
Top 10 questions chapter 2 developing marketing strategies and plans silubricosue_silubrico
The document discusses key concepts from marketing strategies and plans. It provides examples to explain strategic and tactical marketing plans, Porter's three generic strategies of overall cost leadership, differentiation and focus. It also defines marketing alliances and the major competitive spheres that companies operate in, including industry, geography, vertical channels, market segments and products.
The presentation introduces the strategic marketing model and walks through the process of implementation using this model for strategic marketing. A variation on this process can also be used for corporate branding engagements.
The document discusses product development and management. It covers the categories of new products, the new product development process, and product life cycles. The new product development process involves idea generation, screening, concept development and testing, marketing strategy development, product development, and commercialization. The document also outlines the stages of the product life cycle as introduction, growth, maturity, and decline. It provides strategies for marketing products at each stage of the life cycle.
This unit covers the following points:
1.VMOST
2.What does Marketing Strategy Accomplish?
3. Overview of Strategic Market management
4. Objectives of strategic Market Management
5.Business Strategy
6.Strategic Marketing Management : Characteristics and trends
7.Objective of Strategic management
8.Difference between Strategic Marketing & Marketing Strategy
9.Business Vision its components
10. BHAG
11.Understanding how the Market segments
12.An analysis of Customer Motivation
13.Exploration of unmet needs
14.The KANO MODEL
Developing marketing strategies and plans 02skillfulyards
This chapter discusses developing marketing strategies and plans at different organizational levels. It explains that strategic planning involves defining the corporate mission and strategic business units. Business unit strategic planning consists of performing a SWOT analysis, formulating goals and strategies, and developing programs. The marketing plan operates at both a strategic level by defining target markets and value propositions, and at a tactical level by specifying marketing mix elements. Coordinating departmental activities through cross-functional teams helps deliver superior customer value.
This document discusses sourcing strategies and trends in sourcing key business functions. It introduces the concept of a sourcing strategy cube that evaluates sourcing options based on ownership, location, and management approach. The document then covers trends in sourcing human resources, procurement, finance & accounting, and IT. It emphasizes that the goal of a sourcing strategy is to define what processes and functions provide strategic advantage versus those that could be outsourced to optimize costs and focus internally on core competencies. Effective sourcing requires selecting the right option in the sourcing cube and carefully managing the implementation and ongoing relationship.
Chapter 4 Conducting Marketing Research and Forecasting Demanddona_sia
Marketing research involves systematically designing, collecting, analyzing and reporting data to address marketing problems and objectives. Developing the research plan defines data sources, instruments, approaches, sampling plans and contact methods. Measuring demand involves estimating total market potential, area market potential, industry sales and market share. Forecasting future demand utilizes surveys, sales force opinions, expert opinions, past sales analysis and market testing.
Slides of my session at ITM, Mumbai. Introduction to Marketing. Session 1. Includes:
What is Marketing
Marketing Defined
Core Concepts
Marketing Process
Marketing Philosophies
Towards new marketing assumptions
Functions of Marketing
The Four 4 Ps The Marketing Variables
Market Segmenting
Identify sub-markets within market
Decide which one(s) to pursue (target)
Design marketing mix(es) to be attractive to targeted segment's
Demographics - age, race, sex, income, education
Geographic - country, state, urban/rural, climate
Psychographics -attitudes, values, beliefs, personality traits
Behavioral - benefits, usage.
Market consists of people with both the desire and ability to buy
A Marketing Information System (MIS) is designed to generate, store, and disseminate pertinent marketing information to managers. An MIS focuses on managing the flow of information from marketing research to aid in identifying, selecting, and resolving marketing problems and opportunities. It provides recurrent, monitoring, and requested information to managers in a timely and usable format. A Marketing Decision Support System (MDSS) differs from an MIS in that it allows direct manager interaction with models and data to analyze decision situations rather than just providing factual information. Common MDSS applications include sales forecasting and marketing budget allocation.
Introduction to ideas - A complete insight ( A full semester course)megasheeki
This document discusses various topics related to creative thinking and idea generation. It covers divergent and convergent thinking patterns, areas of creativity in organizations including products, processes, marketing, and organization. It also discusses the idea process, company responses to new ideas, idea profiles and traits, characteristics of creative personalities, thinking techniques like brainstorming and mind mapping, and motivation theories.
Marx argues that men distinguish themselves from animals by producing their means of subsistence through their physical labor. By producing their subsistence, men indirectly produce their material life and social relations, which Marx refers to as the "mode of production." The mode of production determines what is possible in society and shapes class struggles between social groups defined by their relationship to the means of production.
For our marketing strategy class, we had to create a Marketing Plan for Chipotle. The following data is a collaboration of my group while the design of the presentation is my own.
Brexit: The customs impact on UK businessesAlex Baulf
Following the referendum vote on 23 June 2016, the UK has voted to leave the EU. Exactly when this will happen and how is not yet known. In the coming months, the UK will be expected to submit its withdrawal notice to the EU Council -under Article 50 of the Treaty on European Union (TEU) -to formally notify the EU of its withdrawal. The notification will trigger a two-year notice period and negotiations on the terms of a UK exit will begin. Until then, UK businesses should continue to comply with and trade under the existing Union Customs Code (UCC) that entered into force on 1 May 2016.
Assuming that 'Brexit' does eventually happen, businesses need to:
• assess the risks and opportunities that this poses for their supply chain
• where possible, put in place plans to manage these changes, to ensure their activities run smoothly and mitigate the potential impact, and
• take appropriate steps to prepare for the ‘unknown’.
Unless there is a dramatic 'U' turn, it seems clear that, at some point in the future, the UK will leave the EU. From a UK business perspective such a move will not only present many challenges, but will also provide opportunities.
The vote to leave will continue to create considerable uncertainty until the details of any agreement(s) are known. Businesses affected by Brexit will need to plan for that uncertainty and will need to understand the potential impacts. For this reason, a supply chain impact assessment is prudent and should help to provide some clarity in relation to a business’s exposure.
This document provides information on various business concepts including invoices, bills, purchase orders, customer orders, inventory control, checks, reorder levels, and return on investment. An invoice is a document from a seller to a buyer listing the products, quantities, and agreed prices that have been provided. A purchase order is an offer from a buyer to a seller specifying the types, quantities, and agreed prices of products or services. Inventory control involves supervising supply levels to ensure adequate but not excessive amounts of items. A reorder level is the inventory amount at which a new order is placed. Return on investment is a performance measure that evaluates investment efficiency by dividing net profit by cost of investment.
This document provides an overview of business fundamentals and concepts. It defines business as the organized effort to produce and sell goods and services for profit to satisfy society's needs. The main goals of business are to make a profit, open a business, and expand a business. It discusses key stakeholders in business like owners, creditors, employees, suppliers, and customers. It also explains the purpose and types of goals for a business, including vision, mission, and objectives, as well as different levels of goals from long-term to short-term.
The document discusses agency relationships, including how they are formed through agreement, estoppel, or implied agreement, and how a principal is typically liable for the actions of their agent. It covers the different types of authority agents can have, the duties of both agents and principals, and how agency relationships can be terminated. Agency law is an important foundation for understanding various business relationships.
The European Union consists of 28 member states with over 500 million people, comprising 7% of the world's population. The UK held a referendum on June 23rd, 2016 to decide whether to remain in or leave the EU, deciding by a majority vote of 51% to leave. This has led to negative economic impacts, with stock markets losing over $2 trillion in wealth globally and the British pound falling to its lowest levels against the dollar since 1985. India trades over $14 billion annually with Britain, and UK had provided access for Indian companies to European markets, so Brexit could negatively impact Indian trade, pharmaceutical exports to Europe, and companies with large European operations.
The idea of creating a guide to the possible implications of Brexit came into being before the date for the Brexit referendum was set and the referendum campaign had begun. Now that the countdown to the June 23 vote is well underway, this has become a much more topical and current issue for everyone in the UK and I think that many more UK businesses are now engaged in active study and planning for Brexit scenarios.
Business Fundamentals: Introduction to Marketing Danny Chan
The workshop I provided for General Assembly's Business Fundamental Course. The deck provides an introduction to key marketing concepts, a brief introduction into the Inbound Marketing Methodology and covers some actionable takeaways, such as landing page optimization, best blogging practices and some useful anecdotes for those interested in understanding basic marketing principles.
The document discusses business strategy, including defining strategy, strategic management, strategic analysis, and strategic choice. It covers analyzing industry competitors using Porter's Five Forces model and a company's internal environment using value chain analysis. Key factors that influence strategic choices are also examined, such as the business environment, stakeholders, and pursuing global strategies. Effective strategy implementation and evaluation are emphasized.
This document discusses strategic management and industry evolution. It defines strategic management and describes different views on strategy. It also outlines the process of strategic management including developing a vision, mission, objectives and plans. Regarding industry evolution, it notes that industries go through growth, maturity and decline stages, though the duration varies. Industries are also influenced by changes in technology, demand, and actions of firms that can impact their potential structure over time.
This document discusses place strategies and distribution channels. It covers topics such as the functions of marketing channels, designing and managing channels, trends in channel dynamics, channel conflict, types of intermediaries like wholesalers, agents, retailers and the internet as distribution channels. It also discusses channel decisions around direct vs indirect channels, length and number of intermediaries. Channel management topics of selection, motivation, evaluation and managing conflict are also summarized. The document concludes with discussing logistics functions and goals.
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Check out these proven - yet often overlooked - lead generation strategies. Generating leads is a marketer's single most important objective. Yet, only 1 in 10 marketers say their lead generation efforts are highly efficient and effective.
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The document provides an overview of market research, including definitions, processes, types of research, methods, and considerations. It discusses how market research involves systematically identifying, collecting, analyzing, and communicating market information to address issues and make business decisions. Both qualitative and quantitative primary and secondary research methods are covered. The objectives, stakeholders, and ethical implications of market research projects are also outlined.
A marketing decision support system (DSS) helps managers obtain and manipulate information to make decisions. Marketing research involves collecting and analyzing data relevant to marketing decisions. It follows steps such as defining problems, planning research design, collecting primary or secondary data, and analyzing and reporting results. Marketing research is important for decision-making, product development, and understanding customers.
The document provides an overview of marketing research, including definitions, classifications, processes, roles, and career paths. It discusses problem identification and problem solving research, and how research is used to link consumers and customers to marketers through systematic collection and analysis of information to improve marketing decisions. The chapter also outlines the marketing research process and different types of marketing research suppliers and services.
This chapter introduces marketing research. It defines marketing research as the systematic process of identifying, collecting, analyzing, and reporting information to improve marketing decision-making. The chapter outlines the marketing research process and different types of marketing research problems. It also discusses internal and external marketing research suppliers and the services they provide.
The document discusses market research and its importance for advertising decisions. It examines how marketers gather intelligence about customer needs and apply it to strategy, creative concepts, ad pretesting and posttesting. Market research helps identify target audiences, product positioning, message testing and media selection. Both qualitative and quantitative primary and secondary research methods are used to define problems, explore concepts and formally measure audience responses. The goal is to generate continuous market information to inform decision-making across all aspects of the advertising process.
The document discusses various topics related to marketing research including:
1. It describes the role of marketing research in the marketing planning process and decision making.
2. It outlines the marketing research process and discusses problem definition, establishing research objectives, and estimating the value of information.
3. It covers different types of research designs including exploratory, descriptive, and causal research.
Chap 11 understanding marketing processes and consumer behaviorMemoona Qadeer
The document discusses marketing processes and consumer behavior, including defining marketing and the marketing mix of product, price, place, and promotion. It also covers target marketing and market segmentation, marketing research methods, factors that influence consumer behavior, organizational buying behavior, and considerations for international marketing and small business marketing mixes.
The document discusses marketing processes and consumer behavior, including defining the marketing mix of product, price, place, and promotion. It also covers target marketing and market segmentation, marketing research methods, factors that influence consumer behavior, organizational buying behavior, and considerations for the international and small business marketing mixes. The overall focus is on understanding the different elements involved in marketing to consumers and organizations.
This document discusses marketing research and the marketing research process. It begins by defining key customer groups and environmental factors that influence marketing. It then discusses the role of marketing research in providing information to marketing managers for decision making. The marketing research process involves problem definition, research design, data collection and analysis, and recommendations. Exploratory, descriptive and causal research designs are described. The document also covers sampling design and different types of marketing research data.
The presentation gives some idea for the persons who are new to the "Marketing Research Process". It explains the entire process that is being processed in this Marketing Research Process.
The document discusses various aspects of international marketing research, including the importance of conducting research to identify opportunities in foreign markets, the process of researching market potentials in different countries and industries, and the different levels, sources, methodologies, and objectives of marketing research. It also outlines the typical steps involved in the market research process from defining problems and objectives to collecting, analyzing, and presenting findings.
DEFINING THE MARKETING RESEARCH PROBLEM AND DEVELOPING AN APPROACHShashank Kapoor
This document provides an overview of Delphi Research Services Pvt Ltd, a market research and strategic consulting firm based in India. It discusses Delphi's areas of specialization in industrial, business-to-business, social and development research, and specialized consumer research for the services sector. It notes Delphi was established in 1991 and has expertise in research for Indian and international clients. It also briefly outlines Delphi's infrastructure, headquartered in Bangalore with field offices in other major cities, and lists some of its major clients across various industries.
The document outlines the key steps in the marketing research process, including defining the problem, developing an approach, formulating a research design, data collection and analysis, and reporting. It discusses defining the management decision problem versus the marketing research problem, and exploring different types of research design such as exploratory, descriptive, and causal research. The marketing research process aims to systematically gather and analyze information to help organizations make better decisions.
This document provides an overview of marketing research, including definitions, processes, methods and applications. It defines marketing research as the systematic process of identifying and solving marketing problems through data collection, analysis and reporting. The key stages are defined as problem identification, research design, data collection, data analysis, and reporting. Common problem-solving research includes segmentation, product, pricing, promotion and distribution research. Other topics covered include careers, selecting research suppliers, and the roles of marketing information systems and decision support systems. Ethics and stakeholders are also discussed.
This document provides an overview of marketing research. It discusses what marketing research is and its focus on understanding customers, companies, and competitors. It outlines the marketing research framework involving these three elements. It then describes the basic research process and 20 different types of marketing surveys that can be conducted, such as market description surveys, customer attitudes surveys, and price setting surveys. It also touches on considerations for marketing research like planning resources, research ethics, and respondents' rights.
This document provides an overview of marketing research and its purpose. It discusses the marketing research process, including defining problems, developing approaches, designing research, collecting and analyzing primary and secondary data, and reporting findings. Primary data collection methods like questionnaires, interviews, focus groups and observation are explained. Secondary data sources include internal company records and external sources like government statistics, trade associations, and commercial reports. The document also distinguishes between qualitative and quantitative information and research methods.
Marketing research involves systematically collecting, analyzing, and reporting data to help address marketing problems and opportunities. It identifies customer pain points - specific problems customers experience - so marketers can position their offerings as solutions. The marketing researcher's job is to produce insights that inform marketing decisions. This involves defining problems, developing research plans, collecting and analyzing information, and presenting findings. Research approaches include surveys, experiments, observations, and focus groups. The research plan specifies data sources, instruments, sampling, and contact methods. Analyzing and interpreting findings allows drawing conclusions to report to management.
This document provides an overview of marketing research and the marketing research process. It discusses the objectives of marketing research, defines marketing research, and outlines the five stages of the marketing research process: determining the purpose, planning the research, performing the research, processing the data, and preparing the research report. It also discusses limitations of the research process, ethical responsibilities of researchers, statistical techniques used, and marketing information systems.
Here are the key questions you need to answer and sources of secondary data that could help:
1. Where is your target market located? (census data on demographics, income levels by neighborhood)
2. What competitors are in the area and where are they located? (business directories, competitor websites)
3. What is traffic and commuting patterns in the area? (traffic studies, municipal planning reports)
4. What retail clusters or shopping areas already exist? (commercial real estate listings and reports, municipal land use and zoning maps)
5. What properties/locations are available? (commercial real estate listings)
Sources of secondary data include:
- Census data
- Traffic/
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2. Agenda
Targeting Product
What is good marketing research? Product Strategy
Marketing research Questions Product Essentials
Types of information Features and Benefits
Types of market research Classifying products
Market research summary Product line and mix
Test Market Branding
Define Target Audience Packaging and Labeling Trademarks
Estimate market potential Positioning and Brand Building
Analyze market share/share of The Art of Positioning is Marketing
customer Positioning the game of Mind and
Track competitors
Heart
Identify market characteristics & Brand is a Promise
trends Brand is owned by Customers
Analyze sales data
Understanding Brand Drivers
Sales forecasting: Existing / new
Brand Attributes
products
Brand Architecture
The Positioning Template
5. The Process
Understand the environment and the market
Situation
Identify threats and opportunities
Analysis Assess the competitive position
Define the business scope and served market
Strategy segments
Establish competitive advantages
Development
Set performance objectives.
Product and channel decision
Marketing Communication decisions
Program Pricing
Development Personal selling decisions
Performance monitoring
Implementation Refining strategies and program
6. Marketing Research in Practice
Programmatic Research
Develops market options through market segmentation,
market opportunity analysis, or consumer attitude and product
usage studies
Selective Research
Tests different decision alternatives such as new product
testing, advertising copy testing, pre-test marketing, and test
marketing
Evaluative Research
Evaluation of performance of programs
7. Marketing Decision Support Systems
Characteristics of MDSS:
Interactive
Flexible
Discovery oriented
User friendly
8. Marketing Decision Support Systems
Four components of MDSS:
Database
Reports and Displays
Analysis capabilities
Models
9. Gaining Insight from a MDSS
Manager
Modeling Display
Analysis Database
Environment
10. Participants in marketing research activities
Information Users
• General management
• Planning
• Marketing and sales managers
• Product managers
• Lawyers
Information Suppliers: Information Suppliers:
Inside Company Outside Company
• Marketing research department • Research consultants
• Sales analysis group • Marketing research suppliers
• Accounting department • Advertising agencies
• Corporate strategic planning
11. Marketing Research Process
MR Process Evolves From Answers to Five Key
Questions
Why should we do research?
What research should be done?
Is it worth doing the research?
How should the research be designed to achieve the
research objectives?
What will we do with the research?
12. Marketing Planning & Information System
MARKETING PLANNING AND INFORMATION SYSTEM
Planning system Information system
• Strategic plans • Databases
• Tactical plans • DSS
1. AGREE ON RESEARCH PROCESS
• Problems or opportunities
• Decision alternatives
• Research users
13. 2. ESTABLISH RESEARCH OBJECTIVES
• Problems or opportunities
• Decision alternatives
• Research users
Estimate
the value of NO Do not conduct
information marketing research
Is benefit >
cost
Yes
14. Yes
2. ESTABLISH RESEARCH OBJECTIVES
• Problems or opportunities
• Decision alternatives
• Research users
5. COLLECT THE DATA
6. PREPARE AND ANALYZE THE DATA
7. REPORT THE RESEARCH RESULTS AND PROVIDE
STRATEGIC RECOMMENDATIONS
15. The Marketing Research Process
Step 1
Research Purpose
Problem or opportunity analysis
Which problems or opportunities are anticipated
What is the scope of the problems and the possible reasons?
Evaluation of decision alternatives
What are the alternatives being studied?
What are the criteria for choosing among the alternatives?
Research users
Who are the decision makers?
Are there any covert purposes?
16. The Marketing Research Process (Contd.)
Step 2
Research Objective
A statement, in as precise terminology as possible, of what
information is needed
Should be framed to ensure information obtained will satisfy
research purpose
Research Question
Hypothesis Development
Research Boundaries
17. The Marketing Research Process (Contd.)
Research Question
Asks what specific information is required to achieve the
research purpose
Sample questions to determine if a specific advertisement
should be run:
Will the advertisement be noticed?
Will it be interpreted accurately?
Will it influence attitudes?
18. The Marketing Research Process (Contd.)
Hypothesis Development
A possible answer to a research question.
Generating a hypothesis
Draw on previous research efforts
Borrow from other disciplines such as:
Psychology
Sociology
Marketing
Economics
Manager’s experience with related problems, coupled with
knowledge and the use of judgment
19. Source
• Theory
• Management experience
• Exploratory research
Research Research Research
Question Hypothesis Design
Purpose
Research
Objective
20. The Marketing Research Process (Contd.)
Step 3
Estimating the Value of Information
Value depends on:
Importance of decision
Uncertainty that surrounds it
Influence of research information on the decision
21. Illustrative Decision Models $ 4 million
Introduce Success
$ 1 million
Product A Failure
Do not
Introduce
$ 4 million
Success
Introduce
Product B -$ 2.5 million
Failure
Do not
Introduce
22. Research Design and Implementation
Research Design
The detailed blueprint to guide the
implementation of a research study toward
the realization of its objectives
23. Categories of Research
Exploratory Research
Used when seeking insights into the general nature of a problem, the
possible decision alternatives, and the relevant variables that need to be
considered
Descriptive Research
Provides an accurate snapshot of some aspect of the market
environment, such as:
Consumer evaluation of the attributes of our product versus competing
products.
The socioeconomic and demographic characteristics of the readership of a
magazine
The proportion of all possible outlets that are carrying, displaying, or
merchandising our products
Causal Research
Used when it is necessary to show that one variable causes or determines
the values of other variables, a causal research approach must be used
24. Detective Funnel
Uses Combination of All Three Research
Techniques
Exploratory techniques generate all possible
reasons for a problem
Descriptive and Causal approaches narrow the
possible causes
25. Detective Funnel
Problem
Exploratory
Research
Descriptive
Possible Research
causes of the
problem
Causal
Research
Probable
Causes
28. Sources of Secondary Data
PRIMARY
•SALES/PATRONAGE RESULTS ( OUTCOMES )
DATA
•MARKETING ACTIVITY ( INPUTS )
SOURCES INTERNAL
•COST INFORMATION
RECORDS
•DISTRIBUTOR REPORTS AND FEEDBACK
•CUSTOMER FEEDBACK
DATA
SOURCES
ELECTRONIC
SECONDARY
DATA •GOVERNMENT
SOURCES •TRADE ASSOCIATIONS
•PERIODICALS
PUBLISHED
•NEWSPAPERS
DATA
•BOOKS
•ANNUAL REPORTS
PRINTED •PRIVATE STUDIES
EXTERNAL
SOURCES STANDARDIZED
SOURCES OF
•STORE AUDITS
MARKETING
•WAREHOUSE WITHDRAWAL SERVICES
DATA
•CONSUMER PURCHASE PANELS
•SINGLE SOURCE DATA
•NIELSEN’S TELEVISION INDEX
•STARCH SCORES
•ARBITRON PANEL
•MULTIMEDIA SERVICES
INTERNET
29. Uses of Secondary Data
Can solve the problem on hand all by its own
Can lead to new ideas and other sources
Helps to define the problem more clearly
Can help in designing the primary data collections
process
Helps in defining the population / sample
Can serve as a reference base
30. Benefits and Limitations of Secondary Data
Benefits Limitations
Low cost Collected for some other
purpose
Less effort No control over data
collection
Less time
May not be accurate
At times, more May not be in correct form
accurate May be outdated
May not meet data
At times, only way to requirements
obtain data Assumptions have to be
made
31. Internal Sources of Secondary Data
Internal Records
Accounting Data
Sales Reports
Inventory Management
Customer Database
32. External Sources of Secondary Data
Published data sources (Census, publications of
various trade associations)
Trade directories
Computer retrievable databases ("online" databases)
34. New Product Research
New Product Research Process
Generation of new product concepts
Evaluation and development of those concepts
Evaluation and development of the actual products
Testing in the context of the marketing program
Need Identification
Perceptual maps
Social and environmental trends
Benefit structure analysis
Product users
Focus-group interviews
Lead user analysis
Concept Identification
35. New Product Research (Contd.)
Test Marketing
Designing the sell-in market test
Selecting the test cities
Implementing and controlling the test
Timing
Measurement
Costs of a test market
Controlled Distribution Scanner Markets (CDSM)
Projecting Trial, Repeat and Usage Rate Using Panel
Data
36. Other Applications
Pricing Research
Research for Profit-oriented Pricing
Research for Share-oriented Pricing
Distribution Research
Warehouse and Retail Location Research
Center-of-gravity Simulation
Computerized Simulation Models
Catchment Area Analysis
Outlet Location Research
Number and Location of Sales Representatives
Sales effort approach
Statistical analysis of sales data
Field experiments
Computerized models of sales force size and allocation by market and
by product line
37. Advertising Research
Criteria Copy Test Validity
Recognition Qualitative Research
Recall
Audience Impressions of
Persuasion
the Ad
Forced exposure, brand
Adjective Checklist
preference change
On-air tests -- brand Eye Movement
preference change Physiological
Customized Measures of Measurement
Communication / Attitude Budget Decision
Purchase Behavior
Coupon stimulated
Media Research
Measuring print vehicle
purchasing
Split-cable tests audiences
Tracking Studies Measuring broadcast
Diagnostic Testing vehicles audiences
38. Sales Promotion Research
Promotional Tools
Price Discounts
Features
Displays
Coupons / Rebates
Sweepstakes
Promotional Strategy
Hi-lo
Every Day Low Price (EDLP)
47. Target Marketing
Socially Responsible Targeting
Some segments, especially children, are at special risk
Many potential abuses on the Internet, including fraud
Internet shoppers
Controversy occurs when the methods used are questionable
7 - 47
49. What is a product?
A product is anything that can offered to market for
attention, acquisition ,use, consumption that might
satisfy a want or need.
56. Business products
Materials and parts
Raw materials and parts
Manufactured materials and parts
Capital items
Installation
Equiptment
Suppliers and business services
Maintenance and repair items
Operating suppliers
62. Product Mix
The assortment of products that a company offers to
a market
Width – how many different product lines?
Length – the number of items in the product mix
Depth – The no. of variants offered in a product line
Consistency – how closely the product lines are
related in usage
65. PRODUCT MIX EXAMPLE
Width (# of product lines)
Hair Care Salty Dental Soft Drinks
Snacks Care
Depth (# of items)
Shampoo Chips Tooth Brush Cola
Conditioner Nuts Tooth Paste Ginger Ale
Hair Spray Crackers Dental Floss Root Beer
66. Factors influencing change in product mix
Changes in market demand
Cost of production
Quantity of production
Changes in company desire
Competitors actions and reactions
67. Product Mix Strategies
Expansion of product mix
Contracting or dropping the product mix
Alteration of existing product s
Trading up/trading down strategies
69. Objectives of product management
To design product strategies
To spot market opportunities
To develop strategies for each stage of product life
cycle
To generate new product ideas
71. Importance of new product
To meet consumer needs and wants
To meet competition
To increase profits
To avoid threats from substitutes
72. New Product Development Process
Step 1. Idea Generation
Systematic Search for New Product Ideas
Internal sources
Customers
Competitors
Distributors
Suppliers
Step 2. Idea Screening
Process to spot good ideas and drop poor ones
Technically feasibility
Financially viable
79. Marketing Strategies: Introduction Stage
Sales
Sales Low sales
Low sales
Costs
Costs High cost per customer
High cost per customer
Profits
Profits Negative
Negative
Marketing Objectives Create product awareness and
Create product awareness and
Marketing Objectives trial
trial
Product
Product Offer a basic product
Offer a basic product
Price
Price Use cost-plus basis
Use cost-plus basis
Distribution
Distribution Build selective distribution
Build selective distribution
Advertising
Advertising Build awareness among innovators,
Build awareness among innovators,
early adopters
early adopters
80. Marketing Strategies: Growth Stage
Sales
Sales Rapidly rising sales
Rapidly rising sales
Costs
Costs Average cost per customer
Average cost per customer
Profits
Profits Rising profits
Rising profits
Marketing Objectives
Marketing Objectives Maximize market share
Maximize market share
Product Offer product extensions, service,
Offer product extensions, service,
Product warranty
warranty
Price
Price Penetration Pricing
Penetration Pricing
Distribution
Distribution Build intensive distribution
Build intensive distribution
Advertising
Advertising Build awareness in the mass market
Build awareness in the mass market
81. Marketing Strategies: Maturity Stage
Sales
Sales Peak sales
Peak sales
Costs
Costs Low cost per customer
Low cost per customer
Profits
Profits High profits
High profits
Marketing Objectives Maximize profit while defending
Maximize profit while defending
Marketing Objectives
market share
market share
Product
Product Diversify brand and models
Diversify brand and models
Price
Price Price to match or best competitors
Price to match or best competitors
Distribution
Distribution Build more intensive distribution
Build more intensive distribution
Advertising
Advertising Stress brand differences and benefits
Stress brand differences and benefits
82. Marketing Strategies: Decline Stage
Sales
Sales Declining sales
Declining sales
Costs
Costs Low cost per customer
Low cost per customer
Profits
Profits Declining profits
Declining profits
Marketing Objectives Reduce expenditure and milk the
Reduce expenditure and milk the
Marketing Objectives
brand
brand
Product
Product Phase out weak items
Phase out weak items
Price
Price Cut price
Cut price
Distribution Go selective: phase out unprofitable
Go selective: phase out unprofitable
Distribution outlets
outlets
Advertising
Advertising Reduce to level needed to retain
Reduce to level needed to retain
hard-core loyal customers
hard-core loyal customers
83. Causes of New Product Failures
Overestimation of Market Size
Product Design Problems
Product Incorrectly Positioned, Priced or Advertised
Costs of Product Development
Competitive Actions
Technical problems
Poor planning
Inadequate promotion
Poor packing
Fault pricing
85. Positioning
Positioning:
The place the product occupies in consumers’ minds
relative to competing products.
Typically defined by consumers on the basis of important
attributes.
Involves implanting the brand’s unique benefits and
differentiation in the customer’s mind.
Positioning maps that plot perceptions of brands are
commonly used.
7 - 85
86.
87. Choosing a Positioning Strategy
Topics Differentiation can be based on
Products
Identifying possible Services
competitive advantages Channels
People
Choosing the right Image
competitive advantage
Choosing a positioning
strategy
7 - 87
88. Choosing a Positioning Strategy
Topics • How many differences to
promote?
Unique selling proposition
Identifying possible
Several benefits
competitive advantages
• Which differences to promote?
Choosing the right
Criteria include:
competitive advantage Important
Choosing a positioning Distinctive
strategy Superior
Communicable
Preemptive
Affordable
Profitable
7 - 88
89. Choosing a Positioning Strategy
Topics • Value propositions represent
the full positioning of the brand
Identifying possible
• Possible value propositions:
competitive advantages More for More
Choosing the right More for the Same
competitive advantage More for Less
Choosing a positioning The Same for Less
strategy Less for Much Less
7 - 89
90. Developing a Positioning Statement
Positioning statements summarize the company or
brand positioning
EXAMPLE: To (target segment and need) our (brand) is
(concept) that (point-of-difference)
7 - 90
94. KAPFERER represents brand identity diagrammatically as a
six-sided prism as shown below:
Constructed Source/Sender
E I
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Constructed Receiver
95. Brand Identity Prism
Physique according to him is the basis of the brand.
E.G. the physique of Philips is “technology and reliability”
while for the brand Tata it is “trust”
Personality is same as Aaker, it answers the question
“what happens to this brand when it becomes a
person?”
Culture symbolizes the organization, its country-of-
origin and the values it stands for.
E.G. traditional brands like balsara, dabur and zandu.
96. Brand Identity Prism
Relationship is the handshake between consumer
and the organisation.
E.G. the relationship with “safola” is safety.
Reflection is the consumer’s perception for what the
brands stands for.
E.G. coke’s image more attract youth.
Self-image is what the consumer think of himself.
E.G. benz Car owner think that since he has bought the car he
is treating himself to one of the best car in the world.
98. What is a Brand???
“ A Brand is a complex symbol. It is the intangible
sum of a product’s attributes, its name, packaging
and price, its history, reputation, and the way it’s
advertised. A brand is also defined by consumer’s
impression of people who use it, as well as their own
experience ”
- David Ogilvy
99. Now let us look at how Brand Experience is differentiated…
101. The External Brand Experience includes
Name
Logo
Advertising
Brand Identity
Environments
Products & Service
102. The Internal Brand Experience includes
Business Process
Customer Relations
Brand Values
Training
Quality
Staff Motivation
Recruitment Policies
Technology etc..
103. Now let us look at the Brand Identity Prism based on
Kapferer model and the 6 key dimensions in it
104. -Name -Logo -Business Process -Customer Relations
-Advertising -Brand Identity -Brand Values -Training
-Environments -Products & Service -Quality -Staff Motivation
-Recruitment Policies -Technology etc..
Constructed Source
E I
x n
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Constructed Receiver
105. Physical
Product features, symbols & attributes
Personality
Character & attitude
Relationship
Beliefs & association
Culture
Set of Values
Reflection
Customer’s view of the brand
Self-Image
Internal mirror of customer as user of brand
106. Let us now understand the prism with some examples…
107. For Sify India let us look at how they have built the brand basis the
Kapferer Model
108. Sify India
Physical
Kite Symbol, Online Access
Personality
Innovative & Tech savvy
Culture
Customer centric & Indian
Self -image
"net" way of life empowered
Reflection
Consistent & dependable performer
Relationship
Best guide to the net
109. Sify India
Physical
Kite Symbol, Online Access
Personality
Innovative & Tech savvy
Culture
Customer centric & Indian
Self -image
"net" way of life empowered
Reflection
Consistent & dependable performer
Relationship
Best guide to the net
Convenience goods – consumers use minimal effort for frequently purchased low cost items Shopping goods - consumers make a considerable effort to evaluate Consumers make product comparison(s) They seek information before purchase They are not impulsive Moderate substitutions are made Product’s last a considerable time Monetary & social costs may be high
Is the product life cycle concept useful? Why or why not? The product life cycle is concerned with the sales history of a product or product class. The concept holds that a product’s sales change over time in a predictable way and that products go through a series of five distinct stages: introduction, growth, shakeout, maturity, and decline. Each of these stages provides distinct opportunities and threats, thereby affecting the firm’s strategy as well as its marketing programs. Despite the fact that many new products do not follow such a prescribed route because of failure, the concept is valuable in helping management look into the future and better anticipate what changes will need to be made in strategic marketing programs. What are the product life-cycle limitations? The product life-cycle model’s major weakness lies in its normative approach to prescribing strategies based on assumptions about the features or characteristics of each stage. It fails to take into account that the product life cycle is driven by market forces expressing the evolution of consumer preferences (the market), technology (the product), and competition (the supply side).
Introduction. In this stage marketers spend heavily on promotions to inform the target market about the new product's benefits. Low or negative profits may encourage the company to price the product high to help offset expenses. companies can concentrate on skimming strategies to generate high profits now or on penetration strategies to build market share and dominant the market for larger profits once the market stabilizes. Although this is a broad guideline, this may not be entirely true for some categories. For instance, pricing say Nokia Lumia on a cost plus basis would be impossible. Margins would be high because of the ‘novelty’ factor and tech products typically end up skimming. And they spend the most on advertising their new products.
Product Life-Cycle Strategies Growth. In this stage the company experiences both increasing sales and competition. Promotion costs are spread over larger volume and strategic decisions focus on growth strategies. Strategies include adding new features, improving quality, increasing distribution, and entering new market segments.
Product Life Cycle Strategies Maturity. In this stage the company must manage slower growth over a longer period of time. Strategic decisions made in the growth stage may limit choices now. Marketing managers must proactively seek advantage by either market modification to increase consumption, product modification to attract new users (quality, feature, and style improvements), or marketing mix modification in an attempt to improve competitive position.
Product Life Cycle Strategies Decline. In this stage the costs of managing the product may eventually exceed profits. Rate of decline is a major factor in setting strategy. Management may maintain the brand as competitors drop out, harvest the brand by reducing costs of support for short term profit increases, or drop the product (divest) altogether.
Steps in Segmentation, Targeting, and Positioning Market Segmentation. Market segmentation is the process of dividing a market into distinct groups of buyers who might require separate products or marketing mixes. All buyers have unique needs and wants. Still it is usually possible in consumer markets to identify relatively homogeneous portions or segments of the total market according to shared preferences, attitudes, or behaviors that distinguish them from the rest of the market. These segments may require different products and/or separate mixes. Market Targeting. Market targeting is the process of evaluating each market segment's attractiveness and selecting one or more segments to enter. Given effective market segmentation, the firm must choose which markets to serve and how to serve them. Discussion Note: In targeting markets to serve the firm must consider its resources and objectives in setting strategy. Market Positioning. Market positioning is the process of formulating competitive positioning for a product and a detailed marketing mix. Marketers must plan how to present the product to the consumer. Discussion Note: The product's position is defined by how consumers view it on important attributes. Steps in Segmentation, Targeting, and Positioning This CTR corresponds to Figure 7-1 on p. 196 and relates to the material on pp. 196.