"A strong market orientation does not occurs by mere proclamation. To attain a strong orientation, a business needs to adopt a market-based management philosophy. This means implementing a process for tracking market performance and restructuring an organization around market rather than products or factories and creating employee culture that is responsive to customers and changing market condition." -Robert J. Best
Brand communication powerpoint presentation slidesSlideTeam
"You can download this product from SlideTeam.net"
Presenting this set of slides with name - Brand Communication Powerpoint Presentation Slides. This is a one stage process. The stages in this process are Brand Equity, Brand Communication, Brand Awareness. https://bit.ly/3sLCo7x
KitKat : Brand strategy concepts & theories Ian Adams
The report will look at the following brand concepts; brand community, brand identity, brand architecture, brand personality, emotional aspects to a brand, brand awareness, brand meaning, brand associations, brand loyalty and Brand experience.
Slides from my class on "Business Model and Strategy" in the Strategy MBA course at Aarhus BSS, Aarhus University (Sep 2014).
Key takeaways:
- business model describes the essence of business in simple terms;
- business model is different from and complementary to strategy;
- business model affects firm’s performance.
Brand communication powerpoint presentation slidesSlideTeam
"You can download this product from SlideTeam.net"
Presenting this set of slides with name - Brand Communication Powerpoint Presentation Slides. This is a one stage process. The stages in this process are Brand Equity, Brand Communication, Brand Awareness. https://bit.ly/3sLCo7x
KitKat : Brand strategy concepts & theories Ian Adams
The report will look at the following brand concepts; brand community, brand identity, brand architecture, brand personality, emotional aspects to a brand, brand awareness, brand meaning, brand associations, brand loyalty and Brand experience.
Slides from my class on "Business Model and Strategy" in the Strategy MBA course at Aarhus BSS, Aarhus University (Sep 2014).
Key takeaways:
- business model describes the essence of business in simple terms;
- business model is different from and complementary to strategy;
- business model affects firm’s performance.
Chap 4,choosing brand elements to build brand equityRajesh Kumar
This slide will give complete view about choosing brand element for various category in industry. As digital marketing manager i use to allow for choosing fines mode of element for our good selection of brand element.
regards
Rajesh
manager Digital maarketing
This complete deck can be used to present to your team. It has PPT slides on various topics highlighting all the core areas of your business needs. This complete deck focuses on Brand Strategy PowerPoint Presentation Slides and has professionally designed templates with suitable visuals and appropriate content. This deck consists of total of thirty slides. All the slides are completely customizable for your convenience. You can change the colour, text and font size of these templates. You can add or delete the content if needed. Get access to this professionally designed complete presentation by clicking the download button below. http://bit.ly/3bqpIaU
The Consumer
Research Process
The Importance of the Consumer
Research Process
Largely Influenced by Psychology, sociology, and anthropology
Developing Research Objectives
Secondary Data
Designing Primary research
Qualitative Collection Method
Depth Interview
Family and its Influence : Consumer BehaviorKaushik Deb
With the exception of those very few people who are classified as hermits, most individuals interact with other people on daily basis, especially with members of their own families. The family commonly provides the opportunity for product exposure and trial and imparts consumption values to its members. As a major consumption group, the family is also a prime target for many product and services.
Communication and Consumer Behavior
Basic Communication Model
The Message Initiator (source)
The Credibility and Dynamics of Informal Source and WOM
Sleeper Effect / source amnesia
The Target Audience (receivers)
Targeting Consumers Through New Media
Designing Persuasive Communications
Emotional Advertising Appeals
Fear
Humor
Abrasive advertising
Audience participation
Celebrities
message
framing
comparative advertising
Chap 4,choosing brand elements to build brand equityRajesh Kumar
This slide will give complete view about choosing brand element for various category in industry. As digital marketing manager i use to allow for choosing fines mode of element for our good selection of brand element.
regards
Rajesh
manager Digital maarketing
This complete deck can be used to present to your team. It has PPT slides on various topics highlighting all the core areas of your business needs. This complete deck focuses on Brand Strategy PowerPoint Presentation Slides and has professionally designed templates with suitable visuals and appropriate content. This deck consists of total of thirty slides. All the slides are completely customizable for your convenience. You can change the colour, text and font size of these templates. You can add or delete the content if needed. Get access to this professionally designed complete presentation by clicking the download button below. http://bit.ly/3bqpIaU
The Consumer
Research Process
The Importance of the Consumer
Research Process
Largely Influenced by Psychology, sociology, and anthropology
Developing Research Objectives
Secondary Data
Designing Primary research
Qualitative Collection Method
Depth Interview
Family and its Influence : Consumer BehaviorKaushik Deb
With the exception of those very few people who are classified as hermits, most individuals interact with other people on daily basis, especially with members of their own families. The family commonly provides the opportunity for product exposure and trial and imparts consumption values to its members. As a major consumption group, the family is also a prime target for many product and services.
Communication and Consumer Behavior
Basic Communication Model
The Message Initiator (source)
The Credibility and Dynamics of Informal Source and WOM
Sleeper Effect / source amnesia
The Target Audience (receivers)
Targeting Consumers Through New Media
Designing Persuasive Communications
Emotional Advertising Appeals
Fear
Humor
Abrasive advertising
Audience participation
Celebrities
message
framing
comparative advertising
Market based management: getting results from your organizationQuentin Christensen
Market-Based Management enables organizations to succeed in the long term by applying the principles that allow free societies to prosper - from the Charles Koch Institute. This is a summary of the key concepts of market-based management: vision, virtues and talents, knowledge process, decision rights, and incentives. This principles enable well run organizations.
This event will provide Senior Managers, Entrepreneurs, Sales Managers, Human Resources Managers and Recruiters with the knowledge, insights, tools and techniques required to consistently recruit effective salespeople.
This will typically provide greater than 90% hiring accuracy, reduce staff churn by at least 30% and increase average annual sales per salesperson by 20-40%.
Retaining & nurturing customers (Igniter breakfast seminar, 2008)Paul Roberts
The summary notes from a breakfast seminar I presented in 2008, on how to identify, engage and delight customers.
Presenting my '3 lens' model for retaining and growing the value of your existing customers, it includes case study examples for successful companies and clients.
The seminar was attended by people from several industries, including sport and banking.
Selling the Future
Prof Deva Rangarajan
Just when companies were able to convince their salespeople about selling solutions, a recent study pointed out to the fact that solution selling was dead. This combined with the research on procurement professionals that suggests that face to face transactional selling was a waste of time indicates that sales organizations need to rethink their approach towards equipping their sales force with the right tools to be successful. In this session we will focus on tactics used by successful salespeople.
This workshop was created to provide a framework for thinking about and measuring marketing investment.
For more marketing advice, contact info@hawkpartners.com
Managing the customers you can't afford to losePLB68
Presented by Peter Browne, Head of Strategy,
Gordian Business, Sydney, Australia
Competition is becoming more intense, products and services increasingly commoditised and buyers more knowledgeable. At the same time your largest customers want better quality and services at lower prices. As industries consolidate, your largest customers represent a growing proportion of your revenue and profit. So you cannot risk losing your largest accounts. To reduce this critical risk you need a disciplined approach to identify and manage the customers you can't afford to lose.
Participants of this webinar will receive a complimentary SEGMENTING ACCOUNTS TOOL which will show you how to manage your most important accounts in four different ways.
Peter Browne will show you how to engage with your key customers to enable your company to build barriers to entry against competitors, and retain and grow your most valuable customers.
LeveragePoint discusses the downsides of relying too heavily on a cost/price control approach. We'll show a recent case example of a company facing the dilemma of stagnant growth - and how a value-based marketing and sales approach will save it.
What is the TDS Return Filing Due Date for FY 2024-25.pdfseoforlegalpillers
It is crucial for the taxpayers to understand about the TDS Return Filing Due Date, so that they can fulfill your TDS obligations efficiently. Taxpayers can avoid penalties by sticking to the deadlines and by accurate filing of TDS. Timely filing of TDS will make sure about the availability of tax credits. You can also seek the professional guidance of experts like Legal Pillers for timely filing of the TDS Return.
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
Attending a job Interview for B1 and B2 Englsih learnersErika906060
It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
Premium MEAN Stack Development Solutions for Modern BusinessesSynapseIndia
Stay ahead of the curve with our premium MEAN Stack Development Solutions. Our expert developers utilize MongoDB, Express.js, AngularJS, and Node.js to create modern and responsive web applications. Trust us for cutting-edge solutions that drive your business growth and success.
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"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
➢ 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
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➢CHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
➢ WOW K-Music Festival 2023
➢ Winner [CROSS] Tour in HCM
➢ Super Show 9 in HCM with Super Junior
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➢ Korean Vietnam Partnership - Fair with LG
➢ Korean President visits Samsung Electronics R&D Center
➢ Vietnam Food Expo with Lotte Wellfood
"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
Taurus Zodiac Sign_ Personality Traits and Sign Dates.pptxmy Pandit
Explore the world of the Taurus zodiac sign. Learn about their stability, determination, and appreciation for beauty. Discover how Taureans' grounded nature and hardworking mindset define their unique personality.
Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
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What are the main advantages of using HR recruiter services.pdfHumanResourceDimensi1
HR recruiter services offer top talents to companies according to their specific needs. They handle all recruitment tasks from job posting to onboarding and help companies concentrate on their business growth. With their expertise and years of experience, they streamline the hiring process and save time and resources for the company.
As a business owner in Delaware, staying on top of your tax obligations is paramount, especially with the annual deadline for Delaware Franchise Tax looming on March 1. One such obligation is the annual Delaware Franchise Tax, which serves as a crucial requirement for maintaining your company’s legal standing within the state. While the prospect of handling tax matters may seem daunting, rest assured that the process can be straightforward with the right guidance. In this comprehensive guide, we’ll walk you through the steps of filing your Delaware Franchise Tax and provide insights to help you navigate the process effectively.
Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
2. Ultimate Marketing Objectives
The ultimate objective of any given marketing strategy should be attract, satisfy
and retain target customers.
• Attract: Brand Reputation, Customer Preference, Lifestyle etc.
• Satisfaction: Quality, Value, Usability, Stature etc.
• Retention: Added value, Habituation, lack of alternative
How are you going to deliver them?
3. Who does marketing in your company?
MK
Market based business with a
Dept
strong market orientation are more CS
C
profitable. Dept
• Implement process of tracking
market performance
• Structure organization around RD
E v
market not product or factory Dept
MF AC
Dept Dept
LG
Dept
Marketing isn’t somebody’s responsibilities;
Marketing is everybody’s responsibilities.
-Jack Welch - 0
4. Market is constantly changing and so should you.
The only thing that is constant is change.
• Customer changes: Demographic, life style, and consumption behavior
• Competitor changes: Innovation
• Environment changes: Economic, Politic, Social, Technology
If you are not Market Poor Understanding of of
Poor Understanding
Customers and Competition
Customers and Competition
Oriented
Stagnant Unfocused Competitive
Shareholders Value Position
Short Term
Short Term Me-Too
Sales Tactics
Sales Tactics Customer Value
Sporadic Business
Sporadic Business Excessive
Unit Profits
Unit Profits Customer Turnover
High Cost of Customer
High Cost of Customer Market Share
Retention and Acquisition
Retention and Acquisition Instability
5. Marketing Driven Company
Marketing driven organization have different behaviors, systems and
measurements. Market oriented organization sells products that customers want
rather than what you can make or sell.
Market Market Profit
Orientation Metrics Metrics
Behaviors Measurement Performance
Key Questions
• Are we market oriented or sales oriented?
• Customer satisfaction or sales revenue?
“Marketing is too important to leave to
the marketers.” – David Packard (HP)
6. Winning Strategy for the changing
Three management characteristics that make Market Oriented company.
• Customer Focus: An obsession with understanding customer needs and
delivery customer satisfaction
• Competitor Orientation: Continues recognition of competitors’ sources of
advantage, competitive position, and marketing strategies.
• Team Approach: Cross-functional team dedicated to developing and
delivering customer solutions.
7. Marketing Impact on Customer Satisfaction
Replacing the dissatisfied customers with new customers will cost 3 to 5 times
more than retaining them.
A market based business looks at customer as lifetime partner
Customer
Base 100%
Satisfied Dissatisfied New
70% 30% customers
70% Retained
Make it easy To make up the lost,
Complain Do not
for customers marketing must
10% to complain complain 90%
acquire 24.9% new
customers to stay even.
Acquisition cost is 3-5X
over retention
Retained
Lost Lost Remained
Care provided
20% 90% loyal 10%
80%
0.6% Lost 2.4% Retained 24.3% Lost 2.7% Retained
8. Customer Retention Considerations
Not all customers are same.
• Core Customers – Brand loyal customers
• At-Risk Customer – Profitable but not loyal to your brand
• Non-profit Customers- Satisfied and retained but not profitable
• Spinners – Sales promotion driven customer
9. Measuring Market Based Performance
Both Internal and External Performance Metrics are needed to understand
marketing effectiveness and business performance.
Internal Performance External Performance
Unit Cost Market Share
Manufacturing Overhead Relative Share
Marketing Expenses Customer satisfaction
R&D Expenses Market Coverage
Sales/Employee Product Awareness
Inventory Turn Relative Quality
Days Account Receivable Relative Price
Return on sales Customer Preferences
Asset Turnover Relative New Product Sales
ROI and ROE Response Time to Problem
10. Measuring Market Based Performance
For financial performance, in-progress market metrics and end-result metrics
can be used.
Measurement In-Progress Metrics End-Result Metrics
Perspective
Product Defects Net Profit/Earning
Late Delivery Return on Sales
Internal
Billing Errors Margin per Unit
(in-company)
Account Receivable Return on Assets
Inventory Turnover Asset Turnover
Customer Satisfaction Market Share
Relative Product Quality Customer Retention
External
Relative Service Quality Relative new Product Sales
(in-market)
Intension of Purchase Revenue per Customer
Product awareness Market Growth Rate
11. Profitability by market based accounting
By articulating Net Marketing Contribution, we can produce Market based
accounting which will help marketing impacts in all performance metrics.
Net Profit = Revenue - Expense
Net Profit = Revenue - Cost of Good Sold – Operating Cost
Net Profit = Revenue - Cost of Good Sold – Marketing Cost – Other Operating cost
Net Profit = NMC - Other Operating cost
Strategies to grow Strategies to Strategies to grow
Market Demand Increase Market Customer
Share Purchase
Market Market Revenue Variable Cost Marketing
NMC = X X Customer - per customer
-
Demand Share Expenses
Strategies to Strategies to Lower Strategies to Increase
Enter or Exit Variable Cost per Marketing Efficiency
Markets customer
12. Market Potential
Ay any given point in time, there are existing customers who make up current
market demand and potential customers who provide the opportunity for
growing market demand
• Narrow Market: Articulated needs of Served customer
• Un-served Market: Undiscovered customer’s need
• Vertical Market: Whole sales to Retail distribution
• Horizon Market: Product line extension
Not Affordable
Untapped Lack Benefits
Market Unable to use
Opportunity
Market Demand
Not Available
Not Aware
Market
Penetration
Market
Potential
Start Now
13. Customer Adoption and Market Development
The rate at which customer enter a market depends on product
attractiveness, customer characteristic and marketing effort.
Market development pattern can be projected based on Market Potential, Market
Penetration and Rate of Entry.
To successfully reach mainstream market, marketer must deliver complete
solution that market can accept.
100% Full market Development
Market
Development
Gap
Early Mainstream
Market Market
Early Adopter Early Majority Late
innovator Laggards
Majority
14. Product Life Cycle and Marketing Profitability
Market
Demand (Unit)
Market Demand
Volume Units
Market Share
Time Gross Profit
Dollar per (Unit)
Price Margin per Unit
Cost
NET
Time MARKETING
Marketing Expenses CONTRIBUTION
Marketing
Expenses
Time
15. Market Share Development
Market Share can be estimated with a simple method of research.
Market Share = Promotion X Product X Price X Place X Service
% of
% of Brand % of Price % of % of
Product
Awareness Acceptance Availability Repurchase
Preference
100%
Market Development Index (MDI)
MDI = (Market Demand / Market Potential) x100
Future Share Development Index(SDI)
MDI
SDI= (Current Share / Potential share) x 100
Current
0% SDI 100%
16. Customer Value
Greater the customer value, greater the competitive edge. Value does not
necessary reflects reality. Prioritize value creation based on cost structure.
Product
Customer
Benefit
Value
Brand
Benefit
Price
Service
Benefit
(Perceived) (Perceived) Cost
Benefits of Purchase
Customer Value = Benefits – Cost
17. Challenges of Market Segmentation
“I will know when our
business are doing a
good job of market
segmentation when
they can articulate
who we should not sell
to.”
-Chuck Lillis, CEO
MediaOne Group
Usage
Behavior
Demographic
? Lifestyle
Needs-Based
18. Market Segmentation process
Need-Based Segmentation Group customers based on similar needs
Determine Demographics, lifestyles and Usage
Segment Identification Behaviors.
Determine market Growth, Competitive Intensity and
Segment Attractiveness Market Access.
Determine Net Marketing Profitability
NMC= [Segment Demand x Segment Share. X
Segment Profitability (Revenue per customer –Cost per customer)]
Marketing Expenses
Segment Positioning Determine Value Proposition for each segment
Segment “Acid Test” Test story “Segment Story” Board
Marketing Mix Strategy Develop 4P strategy for each segments
19. Segmentation Case Study
After 20 years in the business, Gasoline retailers found that people don’t just
buy gas for price alone.
Road Warriors Generation F3 True Blue Home Bodies Price Shopper
16% 27% 16% 21% 21%
Premium Quality Fast fuel, fast Branded Products Convenience Tight on budget
Service service and Fast and Reliable House wives
High Income food service.
Middle-aged Upwardly mobile Moderate income
Male men and women men and women
20. Understanding Competitive Position
Competitive Position
Industry Force Competitor Benchmarking Competitive Advantage
Market Entry/Exit Competitor Intelligence Cost Advantage
Buyer/Supplier Power Competitor Analysis Differentiation Advantage
Substitute/Rivalry Competitive benchmarking Marketing Advantage
FAVORABLE PERFORMANCE (Market based) COST
Barriers Entry - High Market Share Variable Cost
Barriers to Exit - Low Relative Price Marketing Expenses (ROI)
Buyer Power – Low Relative product quality Operating Expenses
Supplier Power – High Relative Service quality DIFFERENTIATION
Substitute – Low Number of distributor Product Performance
Rivalry- Low Sales Force Service Quality
Promotion (%of sales) Brand Reputation
Marketing budget (%of sales) MARKETING
PERFORMANCE (Operating) Distribution Channel
Unit Manufacturing Sales Effort
Direct materials Brand Awareness
Overhead
Return on Assets
Return of Sales
Asset Turn Over
Account Receivable
Sales per Employee
22. Product Positioning
Product Product Sales Physical Retailing
Differentiation Price Breath Force Distribution merchandising
Market Share = Product Positioning X Marketing Effort
New Service Brand Media Sales Customer
Product Quality Image Advertising Promotion Support
Case Study :
Gel like substance that can shaped and cured to repair worn or broken machine.
RC-601 Quick Metal
Target Production Engineers Maintenance Workers
Price $10 per Tube NA
Promotion Provide to technical data to Educate maintenance worker on
explain why RC-601 would how to use fix everyday problems
work for production engineers with Quick Metal
Behavior Engineers do not take risk. Focus on solving problems.
23. Product Positioning - Brand Differentiation
Increase occupancy rate Preference increase
by 15% by adding from 47% to 59% with
Marriott name Kellogg name
Brand Equity
Brand Asset
Performance that adds Brand Liabilities
value to the brand Performance that lowers
brand value
24. Pricing Strategy
The goal of pricing strategy should be to improve profit. Any price change will
impact volume and margin. Cost based pricing is simple and easy but Market
based pricing will impact Customer value, Market share and Profitability
Product Life Cycle Pricing Strategy
Strategic Account
Extensive
Plus-One
Customer Market Based
Customer Intelligent
Reactive Pricing Pricing
Segment
(Customer (Market
Orientation) Orientation)
Perceived
Competitive
Some
Bidding
Value in Use
Harvest
Cost Based Competitor
Pricing Based Pricing Low-Cost Producer
Skim
(Company (Competitive
Penetration
Orientation) Orientation)
None
Cost-Plus
None Some Extensive Floor
Competitor Intelligent
25. Pricing Strategy
Price elasticity is a measure of how demand for a product is influenced by price
changes. Price elasticity can help to answer questions like: If I increase my unit
price by 20%, how much unit sales volume will I lose? If I lower my unit price
by 10%, how much unit sales volume will I gain?
Price Elasticity = [(Q2-Q1) / ((Q1+Q2) / 2 )] / [(P2-P1) / ((P1+P2) / 2]
Where Q1 = initial quantity; Q2 = final quantity; P1 = initial price; P2 = final price
Price Elasticity and Performance
Price Unite Sales Unite Total
Action Volume Revenue Margin Contribution
Raise Price Decrease Increase Increase Increase
Inelasticity
(<-1)
Lower Price Increase Decrease Decrease Decrease
Unity (=-1) Hold Price No change Maximum No change No change
Raise Price Decrease Decrease Increase Inc or Dec
Elasticity
(>-1)
Lower Price Increase Increase Decrease Inc or Dec
26. Place - Channel Strategy
More manufacturers are going to direct to customer market as technology
advance in CRM and online channel.
Channel Performance
Customer Reach Operating Efficiency Service Quality
Manufacturers
Direct Channel System Indirect Channel System
Direct Online Tele- Direct Agent
Sales Sales marketing Marketing
Wholesalers
Retailers
Customer Market
27. Place - Channel Strategy
Sales force is creating a source of competitive advantage when sales effort is
valued by customers and can not be matched by competitors.
Well trained sales force can generate higher
Quality sales result
Never be short on number of sales head count
Coverage
EMPLOYE
E
28. Promotion - Advertising
Three key objectives of Advertising
• Build Awareness: Build a level of awareness with respect to brand/product
• Reinforce the message: Maintain a level of awareness
• Stimulate Action: Motivate target customers to take a specific action
Customer Response Index (CRI)
Action 90% 16%
Intension 68%
Interested 77% No Action 10% 2%
Comprehend 54% No Intension 68% 8%
Aware 77% Not Interested 23% 8%
Don’t Comprehend 46% 29%
Unaware 37% 37%
100%
Awareness Comprehension Interested Intension Action
Media Reach Frequency Benefit Price Availability
Media Frequency Content Relevancy Test/Trial Selection
Creative Ad Switching Choice
cost T&C
29. Process of Building a Marketing Plan
Situation Analysis Review market forces, competitive position & Current
performance
Assess Strength, Weakness, Opportunity and Threat
SWOT Analysis
Access market attractiveness, and competitive
Strategic market Plan advantage. Develop strategic market plan and
performance objective
Tactical Marketing Mix Develop 4P strategy: Product, Price, Place and
promotion
Strategy
Marketing Budget Adequate budget to achieve marketing objectives
Performance Timeline An estimate of profit performance is made for each year of
a 3-5 year strategic marketing planning horizon
Performance Evaluation Share, sale revenue, Profitability
31. Conclusion: Market is customer.
Recognizing the customer as the primary unit of focus, market-based business
will expand the focus to customers and market, not just product or unit sold.
• Attract new customers grow market share
• Grow the market demand by bring more customers into market
• Enter new market to create new source of customer
If you are Market Poor Understanding of
Passion for Customer
Customers and Competition
Satisfaction
Oriented
Grow earning & Encourage Customer
Shareholders Value Complaints
Improve Profit Address Source of
Performance Dissatisfaction
Improve Marketing Improve on Process over
Productivity Product
Lower cost of Customer Improve Customer
Acquisition Satisfaction and Retention
32. Thank You
Michael Hong Marketing Consulting
Michael is a Senior Marketing Management professional with exceptional skills and experience in e-
Commerce Marketing. Michael has 20 years of marketing and marketing communications experience
at corporations such as AT&T and LG Electronics. He is a creative marketer and a thought leader in
digital marketing and multicultural marketing industry. He spoke at numerous conferences such as
Internet Retailer and the eM9-Marketing Conference.
Specialties: Advertising Strategy, Planning and Execution, Digital Marketing (SEO, SEM, Social media,
Word-of-Mouth), Direct Marketing, Multicultural Marketing, B-B Marketing
Education: Cornell University, Ithaca, New York
B.A. 1985 School of Art, Architecture and City Planning
2 Brookstone Dr. Boonton Twps., NJ 07005 (C) 201 841 9659 njmikehong@yahoo.com