What is Marketing?
Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services that satisfy individual and organizational goals. --- AMA
Product is the platform for attracting customers.
All organizations are in the business of attracting customers.
Can the above two statements be challenged?
Is marketing selling OR does it reduce the need for selling?
Discussion Topic: Challenge the above statements, using your own experiences as reference.
This document discusses key marketing concepts and terms. It covers the evolution of marketing from the production concept to relationship marketing. It also discusses the marketing mix, target markets, market segmentation, and the impact of technology and social trends on marketing. Finally, it addresses topics like marketing strategy, marketing plans, business markets, competition, and marketing information systems.
The document provides an overview of marketing concepts and approaches. It discusses the stages of marketing thought from 1900-1970, including periods of discovery, conceptualization, integration, development, reappraisal, reconception, differentiation, and socialization. Key concepts covered include the traditional and contemporary definitions of marketing, behavioral concepts relevant to marketing from various social sciences, goals of marketing like maximizing consumption and satisfaction, and contemporary marketing approaches such as the marketing mix, conceptual approach, systems approach, marketing management, macro-marketing, social marketing, and comparative marketing.
This document discusses various concepts in marketing including societal marketing, social marketing, not-for-profit marketing, cause-related marketing, sports marketing, guerrilla marketing, viral marketing, experiential marketing, search engine marketing, tourism marketing, and personal branding. It provides definitions and examples for each concept.
Marketing management module 1 important questions of marketing mba 1st sem...Babasab Patil
This document lists important marketing questions that could be asked in exams. It covers questions ranging from basic concepts like marketing, market and exchange to more advanced topics like marketing mix, product portfolio, and buyer adoption process. The questions are organized into different sections for 3 mark, 5 mark and 7 mark questions. They provide an overview of the key topics and issues that marketing students need to be familiar with.
The document discusses the four factors that influence consumer buying behavior: cultural factors, social factors, personal factors, and psychological factors. It provides examples for each factor. Cultural factors include values and culture. Social factors are outside influences from groups, family, and roles. Personal factors are attributes of the individual like age, income, and lifestyle. Psychological factors are internal influences like motivation, perception, beliefs, and attitudes.
The document provides definitions and explanations of key marketing concepts from various experts and organizations. It discusses marketing management as understanding customer needs, environmental scanning, developing marketing plans and strategies, implementing plans, and setting control mechanisms. Marketing aims to make selling unnecessary by knowing customers so well that products sell themselves. The scope of marketing management includes decisions around distribution, sales promotion, advertising, after-sales service, customer research, products, and pricing.
This document provides an overview of marketing concepts and topics covered in an advanced marketing course. It discusses the new digital economy and how it benefits both consumers and firms. It then outlines the objectives and tasks of marketing. The rest of the document summarizes various core marketing concepts such as the marketing definition, what can be marketed, different types of markets, and the marketing mix (4Ps). It also discusses company orientations, changes in the marketplace, and how companies and marketers have responded to these changes.
Kotler Keller - Marketing Management 15th edition
Chapter 01 Lecture slide
Made by Korea Institute of Marketing Education
http://www.marketingkorea.org
02-563-0717
This document discusses key marketing concepts and terms. It covers the evolution of marketing from the production concept to relationship marketing. It also discusses the marketing mix, target markets, market segmentation, and the impact of technology and social trends on marketing. Finally, it addresses topics like marketing strategy, marketing plans, business markets, competition, and marketing information systems.
The document provides an overview of marketing concepts and approaches. It discusses the stages of marketing thought from 1900-1970, including periods of discovery, conceptualization, integration, development, reappraisal, reconception, differentiation, and socialization. Key concepts covered include the traditional and contemporary definitions of marketing, behavioral concepts relevant to marketing from various social sciences, goals of marketing like maximizing consumption and satisfaction, and contemporary marketing approaches such as the marketing mix, conceptual approach, systems approach, marketing management, macro-marketing, social marketing, and comparative marketing.
This document discusses various concepts in marketing including societal marketing, social marketing, not-for-profit marketing, cause-related marketing, sports marketing, guerrilla marketing, viral marketing, experiential marketing, search engine marketing, tourism marketing, and personal branding. It provides definitions and examples for each concept.
Marketing management module 1 important questions of marketing mba 1st sem...Babasab Patil
This document lists important marketing questions that could be asked in exams. It covers questions ranging from basic concepts like marketing, market and exchange to more advanced topics like marketing mix, product portfolio, and buyer adoption process. The questions are organized into different sections for 3 mark, 5 mark and 7 mark questions. They provide an overview of the key topics and issues that marketing students need to be familiar with.
The document discusses the four factors that influence consumer buying behavior: cultural factors, social factors, personal factors, and psychological factors. It provides examples for each factor. Cultural factors include values and culture. Social factors are outside influences from groups, family, and roles. Personal factors are attributes of the individual like age, income, and lifestyle. Psychological factors are internal influences like motivation, perception, beliefs, and attitudes.
The document provides definitions and explanations of key marketing concepts from various experts and organizations. It discusses marketing management as understanding customer needs, environmental scanning, developing marketing plans and strategies, implementing plans, and setting control mechanisms. Marketing aims to make selling unnecessary by knowing customers so well that products sell themselves. The scope of marketing management includes decisions around distribution, sales promotion, advertising, after-sales service, customer research, products, and pricing.
This document provides an overview of marketing concepts and topics covered in an advanced marketing course. It discusses the new digital economy and how it benefits both consumers and firms. It then outlines the objectives and tasks of marketing. The rest of the document summarizes various core marketing concepts such as the marketing definition, what can be marketed, different types of markets, and the marketing mix (4Ps). It also discusses company orientations, changes in the marketplace, and how companies and marketers have responded to these changes.
Kotler Keller - Marketing Management 15th edition
Chapter 01 Lecture slide
Made by Korea Institute of Marketing Education
http://www.marketingkorea.org
02-563-0717
This document provides an overview of key marketing concepts and terms. It defines marketing as a societal process of planning and executing the conception, pricing, promotion, and distribution of goods, services, and ideas to create beneficial exchanges. The four Ps of marketing are introduced as the marketing mix of product, price, place, and promotion. Other concepts discussed include the evolution of marketing's role in organizations, from a separate function to an integrative function centered around customers. The document also defines needs, wants, demands, value, exchange, relationships, target markets and segmentation.
This document discusses marketing challenges and opportunities. It begins by explaining that marketing challenges help teams meet goals while achieving social value. Challenges differ from traditional training by applying insights to real-world briefs. Working on live briefs can heighten perception of achieving results and developing priority and time management skills. The document then lists specific marketing challenges and opportunities for analysis, such as bridging sales and marketing gaps. It provides a framework for opportunity analysis involving customer, company, technology, and competition factors. Key areas for identifying unmet customer needs and selecting target customers are outlined. The document concludes by discussing assessing advantages, resources, technology readiness, and overall attractiveness.
Ch1 defining marketing for the 21st century questions abendanriaabendan
The document contains a list of 10 learning questions about marketing concepts for chapter 1. It covers definitions of marketing management, the marketing mix (4Ps), types of consumer needs, new marketing orientations like convergence, and new consumer capabilities in the digital age. Key points addressed include that marketing management involves creating, communicating and delivering superior customer value, and examples of the product, price, place and promotion elements of the marketing mix.
Chapter 1 Creating and capturing customer value by Philip KotlerMD ASADUZZAMAN
1) The document discusses the core concepts of marketing, including how marketers meet customer needs through products and services to achieve customer satisfaction and profit.
2) It defines marketing management and examines how marketers manage demand and build relationships to achieve organizational goals.
3) Emerging technologies are enabling new ways for companies to connect with customers and partners, including more direct and personalized connections through e-commerce and databases.
Principles of Marketing (waqas@hazara.edu.pk)Waqas Khan
A Series of Lectures By:
Waqas Ahmad Khan
M.Phil. (Quality Assurance Management)
These lectures on Marketing were delivered by Waqas Ahmad Khan in MBA, ACCA and CAT classes of different Colleges and Universities.
+92-300-9119770
This document outlines the syllabus for a marketing planning and implementation course. The course objectives are for students to understand basic marketing theories and develop analytical skills for real-world application. Key topics covered include the marketing mix, marketing strategies, research, branding, and ethics. Assessment will comprise assignments, quizzes, presentations, and an exam. The instructor aims to blend theory and practice to promote active learning. Recommended textbooks are also listed.
MKT 421 EDU Education Your Life / mkt421edu.comkopiko13a
FOR MORE CLASSES VISIT
www.mkt421edu.com
Purpose of Assignment
A well planned distribution channel system is a key component of the marketing mix that helps meet customer demands and achieve company goals. This assignment will analyze the role channels
The document provides an overview of business-to-business (B2B) marketing compared to business-to-consumer (B2C) marketing. It defines B2B as transactions between businesses, where one business sells products or services to another business for use in operations or manufacturing. B2C refers to businesses selling to consumers for personal use. B2B marketing focuses on building long-term relationships through educational activities, while B2C is more product-driven and uses branding for short-term transactions. The buying process is typically longer for B2B with multiple decision makers, compared to the simpler process for individual consumers. Overall, the document outlines the key differences between B2B and B2C marketing strategies
Here are the key steps in conducting market research:
1. Define the problem and research objectives clearly. This will guide the research.
2. Develop a research plan that identifies data sources, approaches, instruments, sampling, and contact methods.
3. Collect information through primary and secondary data following the research plan.
4. Analyze the data both qualitatively and quantitatively.
5. Present the findings to stakeholders in a clear, actionable manner.
The research methods that can be used include observation, surveys, experiments, and focus groups. The goal is to understand the market, customers, and opportunities/problems in a systematic way. Defining objectives and having a plan is important for effective market
This document discusses key concepts in marketing for the 21st century. It covers the challenges businesses face in a new economy with increased information and connectivity. Major topics addressed include the tasks of marketing, core marketing concepts and tools, different company orientations toward customers and markets, and how businesses and marketers are responding to changes through strategies like e-commerce, globalization, and relationship marketing.
The document discusses marketing and provides definitions, concepts, and career opportunities. It defines marketing as the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals. The document outlines marketing philosophies like production, sales, and societal orientation. It discusses key marketing concepts such as the 4Ps of marketing, customer value, customer satisfaction, and branding. It also explores criticisms of marketing and provides examples of marketing functions and career paths in fields like brand management, sales, advertising, and retail.
This document provides an overview of core marketing concepts. It defines marketing as identifying and meeting human needs profitably. The scope of marketing involves understanding customers, competitors, markets, and the marketing environment. Key concepts discussed include needs and wants, market segmentation and targeting, products and brands, delivering value and customer satisfaction, marketing channels, and competition. The document emphasizes that marketing involves all business functions and is critical for financial success. It also notes the importance of understanding changing customer and environmental factors.
This document outlines topics to be covered in a marketing principles course presented by Syed Abul Kalam Azad. The group presentation is divided among five students who will cover topics such as the marketing process, customer needs and demands, market offerings, customer value and satisfaction, exchange and relationships, modern marketing systems, and the production, product, selling, marketing and societal concepts of marketing. Additional topics include green marketing, customer perceived value, and customer equity, share and lifetime value.
Chp 1 marketing creating and capturing customer valueMohammed Razib
The document provides an overview of key concepts from Chapter 1 of a marketing textbook. It defines marketing as a process of creating value for customers and building relationships to capture value in return. The 4Ps of the marketing mix (product, price, place, promotion) are introduced as tools to implement marketing strategy. Building customer relationships through loyalty, satisfaction, and lifetime value are also discussed as important ways for marketers to capture value from customers.
This document provides an overview of key marketing concepts:
- Marketing involves creating and exchanging products of value to satisfy customer needs and wants through a process of obtaining customer satisfaction at a profit.
- Core concepts include products/services, value/satisfaction, needs/wants, exchange/transactions, relationships, and markets. Needs, wants, and demands motivate consumer action. Products and services satisfy these, and value and satisfaction determine consumer choice. Exchanges and transactions allow obtaining products/services through relationships in markets. Modern marketing uses an integrated system to manage demand and relationships for organizational goals.
The document summarizes key concepts in marketing including:
1) Defining marketing and outlining the marketing process of creating value for customers and capturing value from customers in return.
2) Examining core customer and marketplace concepts like needs, wants, demands, market offerings, and customer value and satisfaction.
3) Discussing elements of a customer-driven marketing strategy including market segmentation, targeting, and determining a value proposition.
Chapter 1 introduction to marketing presentAin Omar
This document provides an overview of key concepts in marketing. It defines marketing according to several experts and outlines marketing management philosophies including production, sales, marketing, and societal orientations. The differences between sales and market orientations are explained. The marketing process and core concepts like customer value, satisfaction, and relationship marketing are summarized. Trends in marketing are also briefly mentioned.
The document defines marketing as managing markets to bring about exchanges to satisfy human needs and wants. It discusses key marketing concepts like understanding customer needs and wants in order to develop appropriate value propositions and integrated marketing programs. The marketing process involves understanding the market, designing customer-driven strategies, and building profitable customer relationships through activities like customer relationship management.
defining marketing for the 21st century
,
what is marketing management
,
definition of marketing
,
marketing orientations/ philosophies / marketing c
,
marketing concept
,
core concepts of marketing
,
new consumer capabilities
,
the product concept
,
relationship between 4ps and 4cs/ and 4 as marketi
1. The document provides an overview of key marketing strategy concepts and terms for an exam, including the evolution of marketing from the production concept to viral marketing.
2. It discusses the marketing mix, target markets, and relationship marketing. Customers are increasingly important stakeholders that companies must acquire and retain through customer relationship management.
3. The buyer decision process and factors that influence buyer behavior are reviewed. Marketing mathematics concepts like break-even analysis and lifetime customer value are also summarized.
This document provides an overview of key marketing concepts including defining marketing, the marketing mix, the marketing environment, marketing research, customer value and satisfaction, and analyzing consumer markets.
It defines marketing as meeting human and social needs profitably and involves identifying target markets and growing customers. The marketing mix consists of the 4 P's - product, price, place and promotion. Understanding the macro environment through trends, forces and research is important. Marketing research involves defining problems and objectives, developing a research plan, collecting and analyzing information. Creating customer value and satisfaction is key to retaining customers. Analyzing factors like culture, social groups, and roles that influence consumer buying behavior is also discussed.
This document provides an overview of key marketing concepts and terms. It defines marketing as a societal process of planning and executing the conception, pricing, promotion, and distribution of goods, services, and ideas to create beneficial exchanges. The four Ps of marketing are introduced as the marketing mix of product, price, place, and promotion. Other concepts discussed include the evolution of marketing's role in organizations, from a separate function to an integrative function centered around customers. The document also defines needs, wants, demands, value, exchange, relationships, target markets and segmentation.
This document discusses marketing challenges and opportunities. It begins by explaining that marketing challenges help teams meet goals while achieving social value. Challenges differ from traditional training by applying insights to real-world briefs. Working on live briefs can heighten perception of achieving results and developing priority and time management skills. The document then lists specific marketing challenges and opportunities for analysis, such as bridging sales and marketing gaps. It provides a framework for opportunity analysis involving customer, company, technology, and competition factors. Key areas for identifying unmet customer needs and selecting target customers are outlined. The document concludes by discussing assessing advantages, resources, technology readiness, and overall attractiveness.
Ch1 defining marketing for the 21st century questions abendanriaabendan
The document contains a list of 10 learning questions about marketing concepts for chapter 1. It covers definitions of marketing management, the marketing mix (4Ps), types of consumer needs, new marketing orientations like convergence, and new consumer capabilities in the digital age. Key points addressed include that marketing management involves creating, communicating and delivering superior customer value, and examples of the product, price, place and promotion elements of the marketing mix.
Chapter 1 Creating and capturing customer value by Philip KotlerMD ASADUZZAMAN
1) The document discusses the core concepts of marketing, including how marketers meet customer needs through products and services to achieve customer satisfaction and profit.
2) It defines marketing management and examines how marketers manage demand and build relationships to achieve organizational goals.
3) Emerging technologies are enabling new ways for companies to connect with customers and partners, including more direct and personalized connections through e-commerce and databases.
Principles of Marketing (waqas@hazara.edu.pk)Waqas Khan
A Series of Lectures By:
Waqas Ahmad Khan
M.Phil. (Quality Assurance Management)
These lectures on Marketing were delivered by Waqas Ahmad Khan in MBA, ACCA and CAT classes of different Colleges and Universities.
+92-300-9119770
This document outlines the syllabus for a marketing planning and implementation course. The course objectives are for students to understand basic marketing theories and develop analytical skills for real-world application. Key topics covered include the marketing mix, marketing strategies, research, branding, and ethics. Assessment will comprise assignments, quizzes, presentations, and an exam. The instructor aims to blend theory and practice to promote active learning. Recommended textbooks are also listed.
MKT 421 EDU Education Your Life / mkt421edu.comkopiko13a
FOR MORE CLASSES VISIT
www.mkt421edu.com
Purpose of Assignment
A well planned distribution channel system is a key component of the marketing mix that helps meet customer demands and achieve company goals. This assignment will analyze the role channels
The document provides an overview of business-to-business (B2B) marketing compared to business-to-consumer (B2C) marketing. It defines B2B as transactions between businesses, where one business sells products or services to another business for use in operations or manufacturing. B2C refers to businesses selling to consumers for personal use. B2B marketing focuses on building long-term relationships through educational activities, while B2C is more product-driven and uses branding for short-term transactions. The buying process is typically longer for B2B with multiple decision makers, compared to the simpler process for individual consumers. Overall, the document outlines the key differences between B2B and B2C marketing strategies
Here are the key steps in conducting market research:
1. Define the problem and research objectives clearly. This will guide the research.
2. Develop a research plan that identifies data sources, approaches, instruments, sampling, and contact methods.
3. Collect information through primary and secondary data following the research plan.
4. Analyze the data both qualitatively and quantitatively.
5. Present the findings to stakeholders in a clear, actionable manner.
The research methods that can be used include observation, surveys, experiments, and focus groups. The goal is to understand the market, customers, and opportunities/problems in a systematic way. Defining objectives and having a plan is important for effective market
This document discusses key concepts in marketing for the 21st century. It covers the challenges businesses face in a new economy with increased information and connectivity. Major topics addressed include the tasks of marketing, core marketing concepts and tools, different company orientations toward customers and markets, and how businesses and marketers are responding to changes through strategies like e-commerce, globalization, and relationship marketing.
The document discusses marketing and provides definitions, concepts, and career opportunities. It defines marketing as the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals. The document outlines marketing philosophies like production, sales, and societal orientation. It discusses key marketing concepts such as the 4Ps of marketing, customer value, customer satisfaction, and branding. It also explores criticisms of marketing and provides examples of marketing functions and career paths in fields like brand management, sales, advertising, and retail.
This document provides an overview of core marketing concepts. It defines marketing as identifying and meeting human needs profitably. The scope of marketing involves understanding customers, competitors, markets, and the marketing environment. Key concepts discussed include needs and wants, market segmentation and targeting, products and brands, delivering value and customer satisfaction, marketing channels, and competition. The document emphasizes that marketing involves all business functions and is critical for financial success. It also notes the importance of understanding changing customer and environmental factors.
This document outlines topics to be covered in a marketing principles course presented by Syed Abul Kalam Azad. The group presentation is divided among five students who will cover topics such as the marketing process, customer needs and demands, market offerings, customer value and satisfaction, exchange and relationships, modern marketing systems, and the production, product, selling, marketing and societal concepts of marketing. Additional topics include green marketing, customer perceived value, and customer equity, share and lifetime value.
Chp 1 marketing creating and capturing customer valueMohammed Razib
The document provides an overview of key concepts from Chapter 1 of a marketing textbook. It defines marketing as a process of creating value for customers and building relationships to capture value in return. The 4Ps of the marketing mix (product, price, place, promotion) are introduced as tools to implement marketing strategy. Building customer relationships through loyalty, satisfaction, and lifetime value are also discussed as important ways for marketers to capture value from customers.
This document provides an overview of key marketing concepts:
- Marketing involves creating and exchanging products of value to satisfy customer needs and wants through a process of obtaining customer satisfaction at a profit.
- Core concepts include products/services, value/satisfaction, needs/wants, exchange/transactions, relationships, and markets. Needs, wants, and demands motivate consumer action. Products and services satisfy these, and value and satisfaction determine consumer choice. Exchanges and transactions allow obtaining products/services through relationships in markets. Modern marketing uses an integrated system to manage demand and relationships for organizational goals.
The document summarizes key concepts in marketing including:
1) Defining marketing and outlining the marketing process of creating value for customers and capturing value from customers in return.
2) Examining core customer and marketplace concepts like needs, wants, demands, market offerings, and customer value and satisfaction.
3) Discussing elements of a customer-driven marketing strategy including market segmentation, targeting, and determining a value proposition.
Chapter 1 introduction to marketing presentAin Omar
This document provides an overview of key concepts in marketing. It defines marketing according to several experts and outlines marketing management philosophies including production, sales, marketing, and societal orientations. The differences between sales and market orientations are explained. The marketing process and core concepts like customer value, satisfaction, and relationship marketing are summarized. Trends in marketing are also briefly mentioned.
The document defines marketing as managing markets to bring about exchanges to satisfy human needs and wants. It discusses key marketing concepts like understanding customer needs and wants in order to develop appropriate value propositions and integrated marketing programs. The marketing process involves understanding the market, designing customer-driven strategies, and building profitable customer relationships through activities like customer relationship management.
defining marketing for the 21st century
,
what is marketing management
,
definition of marketing
,
marketing orientations/ philosophies / marketing c
,
marketing concept
,
core concepts of marketing
,
new consumer capabilities
,
the product concept
,
relationship between 4ps and 4cs/ and 4 as marketi
1. The document provides an overview of key marketing strategy concepts and terms for an exam, including the evolution of marketing from the production concept to viral marketing.
2. It discusses the marketing mix, target markets, and relationship marketing. Customers are increasingly important stakeholders that companies must acquire and retain through customer relationship management.
3. The buyer decision process and factors that influence buyer behavior are reviewed. Marketing mathematics concepts like break-even analysis and lifetime customer value are also summarized.
This document provides an overview of key marketing concepts including defining marketing, the marketing mix, the marketing environment, marketing research, customer value and satisfaction, and analyzing consumer markets.
It defines marketing as meeting human and social needs profitably and involves identifying target markets and growing customers. The marketing mix consists of the 4 P's - product, price, place and promotion. Understanding the macro environment through trends, forces and research is important. Marketing research involves defining problems and objectives, developing a research plan, collecting and analyzing information. Creating customer value and satisfaction is key to retaining customers. Analyzing factors like culture, social groups, and roles that influence consumer buying behavior is also discussed.
The document discusses key differences between marketing and selling concepts, philosophies of marketing, and marketing analysis and environment forces.
The marketing concept focuses on understanding customer needs and wants to produce products that satisfy them, while the selling concept focuses more on selling goods produced regardless of customer wants.
Marketing philosophies include production, product, selling, and societal concepts. Marketing analysis involves a SWOT analysis to evaluate strengths, weaknesses, opportunities, and threats, and match strengths to opportunities while mitigating weaknesses and threats.
Microenvironment forces close to the company like customers, suppliers, and departments must work together to create value. Macroenvironment forces from broader society like demographics and environment trends also influence companies and markets.
This document provides an overview of key concepts in marketing management. It discusses the marketing process, scope of marketing, core concepts like segmentation and the marketing mix (4Ps). It also covers new product development stages, classification of new products, product life cycle, and factors influencing distribution decisions. The document is an introductory guide to understanding markets and the marketing function in businesses.
This document provides an overview of a group presentation on marketing plans. It discusses key marketing concepts like the marketing mix, 4Ps and 4Cs, target marketing, market segmentation, and marketing strategies. It then gives definitions and examples for each concept. The document outlines developing a marketing plan for a new Columbia Sportswear product - expanding into the snowboard and equipment industry. It analyzes the industry, identifies Columbia's strengths and weaknesses, and provides recommendations around market segmentation, goals, product details, and ensuring product performance.
The document discusses the five key concepts of marketing:
1) The production concept focuses on improving efficiency to increase production and profits.
2) The product concept emphasizes improving product quality, performance and features to attract customers.
3) The selling concept relies on aggressive promotion and selling efforts to move existing products.
4) The marketing concept aims to determine customer needs and satisfy them better than competitors through market research.
5) The societal marketing concept considers the interests of customers, businesses and society as a whole.
Marketing deals with identifying and meeting human and social needs through exchange and transactions between two or more parties. Marketers are involved in marketing 10 types of entities including goods, services, events, experiences, persons, places, properties, organizations, information, and ideas. Traditionally, a market was a physical place where buyers and sellers gathered, but now it also includes digital marketspaces and metamarkets that combine related products across industries. Effective marketing requires understanding needs, wants, and demands; segmenting and positioning the market; developing and communicating value to customers; and using strategic planning to achieve organizational goals.
Fanny Lawren, a marketing consultant, presented an outline for a marketing plan for small businesses. The presentation covered defining marketing and developing a marketing strategy, including analyzing the marketing mix of product, price, place, and promotion. It also discussed market segmentation, the target audience, positioning, branding, and methods for tracking marketing results. The overall presentation provided small businesses with guidance on creating and implementing an effective marketing plan.
This document provides an overview of key concepts in marketing, including:
- The seven functions of marketing such as distribution, financing, pricing, and promotion.
- The marketing mix, also called the four Ps, which are product, place, price, and promotion.
- Market research and how it is used to gather information about consumers and develop products.
- Channels of distribution, which are the ways products move from producers to consumers, either through direct distribution or intermediaries like wholesalers and retailers.
This document outlines a marketing plan presentation for Women In Action. It begins with definitions of marketing and discusses developing a simple marketing plan. It then covers marketing mix strategies including the 4Ps of product, price, place, and promotion. It also discusses the promotional mix of advertising, public relations, sales promotion and personal selling. Other sections address market segmentation, target audiences, SWOT analysis, market research, positioning, branding, and developing a detailed marketing plan. It concludes with emphasizing the importance of tracking marketing results.
Marketing involves identifying and meeting human and social needs in a profitable way. It consists of activities that move goods and services from producers to consumers. A successful marketing plan reflects the desires of the target consumers through the four Ps - product, price, place, and promotion. Value-driven marketing is an extension of the marketing concept that aims to create superior value for customers through principles like focusing on customer needs, offering value above competitors, and gaining input from cross-functional teams and stakeholders.
The document provides guidance on writing an effective marketing plan, including defining key sections and their purpose. It recommends that the executive summary briefly summarize the plan's highlights, objectives, target market, and marketing tactics. It also outlines the importance of conducting environmental, SWOT, and competitive analyses to understand the current situation and opportunities.
The document provides guidance on writing an effective marketing plan, including defining key sections and their purpose. It recommends that the executive summary briefly summarize the plan's highlights, objectives, target market, and marketing tactics. It also outlines the importance of conducting environmental, SWOT, and competitive analyses to understand the current situation and opportunities.
The document discusses marketing and brands. It presents two opposing views on the role and influence of brands - one view sees brands as manipulative forces that force uniformity on consumers, while the other sees brands as providing consumers with beliefs and identity. The document itself seems to take a more balanced view, acknowledging that brands aim to appeal to aspirations but also that consumers are sophisticated and cynical about marketing efforts. It notes challenges marketers now face in reaching consumers who have more choices and media.
This document provides an overview of marketing concepts. It begins by defining marketing as managing profitable customer relationships by delivering superior value. It then discusses the four main philosophies that guide marketing approaches: the production concept, product concept, selling concept, and marketing concept. The marketing concept sees customer focus and value as the path to profits. The document also introduces concepts such as the marketing mix, competition, demand states, and the universal marketing functions. It concludes by updating the traditional "four Ps" framework to better reflect holistic marketing approaches.
The document discusses the concepts of marketing and the marketing process. It defines marketing as putting the right product in the right place at the right time and at the right price. The marketing process aims to understand customer needs and provide value. It involves understanding the marketplace, competitors, and engaging in marketing research and planning. The purposes of marketing include helping businesses achieve their goals by connecting with customers and providing them choice.
Strategic marketing management involves making decisions around product, price, promotion, and distribution to achieve business goals. This includes segmenting customers, identifying target segments, and positioning products to create value for customers, companies, and collaborators. Managing elements of the marketing mix at the strategic level also requires considering factors like new product development, branding, pricing approaches, promotional strategies, and distribution channel design. The overall aim is developing marketing strategies and plans that lead to gaining market share, defending market position, and achieving profitable growth.
Marketing psychology is the practice of aligning your content, communication, and strategies with the many predictable, often subconscious, human behavioral patterns that have been identified through experimentation and research.
Similar to Marketing Strategy…… KEY CONCEPTS to review for ETS exam…. (20)
Within the Municipality of Anchorage (MOA) there are multiple regulations and ordinances including fire, food, land use, building, and smoking, which govern the operations of businesses such as child care. This informational packet provides you with a brief description of some of the more important regulatory requirements. Before entering into a contract to purchase or lease a property for your child care business, we recommend you become familiar with the regulations to determine if the potential site meets all applicable requirements or what modifications would be required to make the facility licensable. You may want to consider contacting other agencies such as Fire Prevention and Land Use/Zoning to determine if the potential site meets applicable regulations.
السؤال الأساسي قبل أن تقرر الاستثمار في سوق الأوراق المالية هو ما إذا كنت مستثمرًا. بالنسبة لبعض الناس ، قد لا يكون سوق الأسهم مناسبًا لشخصيتهم. تتناول هذه المقالة بعض الصفات التي يجب أن يتمتع بها المستثمر من أجل تحقيق عائد معقول في سوق الأسهم.
بالتأكيد ، هناك حكايات شعبية قد تسمعها عن الرجل الذي اشترى أسهم شركة XYZ مقابل 5 دولارات وباعها بعد 60 يومًا مقابل 50 دولارًا للسهم. ربما حدث هذا السيناريو ، لكنه ليس حقيقة كونك مستثمرًا. يجب مراعاة النقاط التالية عندما تفكر في أن تصبح مستثمرًا.
Low self-esteem is a problem for many youth, especially during adolescence. Rates of low self-esteem are higher in Kentucky youth than nationwide. Low self-esteem can lead to mental health issues, risky behaviors, academic problems, and early sexual activity. Programs aim to promote factors like connections with others, achievement, and autonomy to support healthy self-esteem in youth.
Introduction to the ‘Using technology tools for teaching online’ portfolioauthors boards
Introduction to the ‘Using technology tools for teaching online’ portfolio
Welcome to the ‘Using technology tools for teaching online’ portfolio. This document accompanies the course on ‘Using technology tools for teaching online’ in the Teaching Online programme.
Abstract
One of the objectives of teaching a foreign language is to enable the learners to become autonomous, that is the ability to continue learning the foreign language without the teachers’ assistance. Autonomous learners are learners who are responsible for their own learning. Thus, it is very important for the learners to learn and understand how to become autonomous learners. The present paper deals with the discussion of how to promote learners’ autonomy.
Key words: autonomous learner, learning theory, learning
strategy
TABLE OF CONTENTS
PART I (INTRODUCTION)
CHAPTER 1: MY PERSONAL ENCOUNTER WITH THE UNKNOWN
CHAPTER 2: MY PERSPECTIVE IN THIS BOOK
CHAPTER 3: MY CALLING
PART II (ENTITIES)
CHAPTER 4: ANGELS, THE SONS OF GOD, AND THEIR OFFSPRING, THE NEPHILIM
:The astounding power of angels .1
:Confusion with classifying angels .2
?Are angels physical beings .3
:3.1The Sethite theory
:The Sons of God – angels 3.2
:The link between the flood, and Sodom and Gomorrah 3.3
?Why Noah 3.4
:Alien abductions in prophesy 3.5
:Marriage and sex among angels 3.6
:Why can angels sexually reproduce, but shouldn’t? The Butterfly theory 3.7
?What kind of angel is Satan .4
:Satan’s tactics .5
CHAPTER 5: THE HOSTS OF HEAVEN, THE STARS, AND CREATURES
:Different types of angels .1
:The Hosts of Heaven .2
:Non-physical life forms that aren’t angels .3
:Physical life-forms that aren’t angels .4
?The issue of technology - do God’s faithful angels use technology 4.1
?The issue of technology - do fallen angels use technology 4.2
:Alien abductors – probably fallen angels 4.3
:The balance of technological and spiritual development .5
:Difficult to classify technology between entities .6
:God’s intervention in the balance of technological and spiritual development .7
:The Stars .8
:The Twelve Stars – Stars referring to people 8.1
:Stars referring to the Hosts of Heaven 8.2
:Stars referring specifically to angels 8.3
:Creatures in scripture .9
:Beasts in scripture .10
:Warnings in scripture – be prepared .11
CHAPTER 6: MYTHICAL BEINGS, BEASTS, AND MONSTERS
:Examples of legends derived from fact .1
:Legends and idols - tools for demons .2
?Does scripture substantiate the existence of mythical beings .3
Advantages of applying feng shui in your lifeauthors boards
Feng Shui is the practice of bringing good fortune by achieving balance between various elements. In the US, more people are beginning to consult Feng Shui experts in decorating their homes. For you to understand what they say, you need to learn the basic Feng Shui areas that need your attention so you will be able to decorate it properly.
This form will be used to consider your book project for publication.
Thank you for taking the time to complete it as fully as possible. In addition to the questions within the form please submit the following items as attachments:
- description and purpose of the work in a 1-2 page Summary, please include main themes, arguments and objectives;
- a Table of Contents (including a list of contributors if applicable);
- an analytical Synopsis of the contents of each chapter (approx. 200 words per chapter);
- a Curriculum Vitae and a list of your publications (and co-authors or co-editors if applicable);
*********************************************************************
This section of Preparation for Higher Education focuses on Academic Referencing. This section is designed to expand upon the information in the study skills section of the SWAPWest Preparation for Higher Education Materials.
In this section, you will learn how to reference the sources of information that you use to write essays or reports. You may feel a bit worried about referencing your written work if you have never had to do it before. However, once you understand the theory behind it and try it out a few times, you will find that it is actually quite easy to do.
Publishing your authored reference book with crc pressauthors boards
We at CRC Press / Taylor & Francis would like to welcome you! As a member of our team you are of great importance to us. This Guide is intended to highlight the special activities we bring to the creation of an authored reference book, and the publishing process for your reference.
You’ll be working with a number of publishing professionals at CRC as your book is developed, produced, marketed and sold; keep in mind that your Acquisitions Editor is always available to field your questions and concerns.
Hopefully this Reference Author Guide will provide you with a “roadmap” as your book project is planned, published, and promoted.
وليام جراهام الحالم - ويليام جراهام وممالك العالم المتوازيauthors boards
قصة لشخص هادئ الطبع وسيم الطلعة لايستطيع التعبير عن عواطفه بسبب خجله الشديد وقلة تجاربه ويصطدم دائما بالمجتمع من حوله بشخصياته المختلفة لم يختبر يوما معنى الحب وكان دوما مثار للسخرية من أقرانه...
أحب العديد من الحسناوات أثناء فترات دراسته ولكنه لم يحظى ولو بفرصة واحدة للتعبير عما يجيش به صدره إلى أيا منهن ...حياته تكاد تكون من وجهة نظرة مملة واعتيادية على الرغم من أنه يعيش مع أمه التي تحبه كثيرا ...كان والده قد قضى نحبه أثناء خدمته كضابط بالجيش الأمريكي في أحد التدريبات العسكرية..تعلم من والده طريقة للاسترخاء أدخلته إلى عالم روحي وزاد من ذلك أنه قابل بمحض الصدفة أحد الباعة الجائلين واشترى منه كتاب غريب وقديم , وأثناء قراءته لهذا الكتاب اختبر تجارب عديدة خيالية لا يتصورها عقل وقام برحلات عديدة قابل خلالها شخصيات متنوعة , ولأول مرة في حياته يتحرر من عقدة الخجل الذي تعارضه في جميع مواقف حياته ويؤثر في تلك الشخصيات ويتأثروا به وتساعد ممارساته التي تعلمها في هذا الكتاب والتجارب التي مر بها في تبديل حياته جذريا وصقل شخصيته ويبدأ في النظر إلى حياته بمنظور جديد ..
لايفوتنك قراءة هذه الرواية الهادفة فستتعلم منها الكثير والكثير وستبدأ في اكتشاف جانب جديد من حياتك ربما لم تفكر فيه من قبل أو تتصور حدوثه ....
Browsing can be an interesting way to get a feel for a subject and for the scope of materials available in the Library. Research materials can be found in various locations within the Andruss Library:
This study surveyed 320 faculty members from 10 business schools to examine the intrinsic and extrinsic rewards that motivate faculty to conduct research. Of the thirteen rewards studied, receiving or having tenure is the most important reward, while getting a possible administrative position was the least important. There were significant differences in the importance of these rewards between tenured-untenured and between male-female faculty members. Faculty perceives a strong link between research productivity and the attainment of the rewards of tenure and of promotion. However, in the minds of the faculty, the link between publications and the reward of salary increases is not strong. Associate professors reported lesser importance than either full professors or assistant professors on nine of the thirteen rewards and perceived a weaker link between research productivity and achieving the reward. This implies that the associate professors are the least motivated faculty rank to perform research. There was no significant difference in the number of journal articles either published or accepted for publication within the past 24 months by tenure status, gender, or faculty rank.
Journal of International Wildlife Law and Policy Student Editorial Board Appl...authors boards
JIWLP is accepting applications to join the journal to start in Fall 2017 (for one credit).
The application deadline is Friday, August 18, by 3 pm. Early application is encouraged!
Please send applications to Professor Paul Boudreaux by email to boudreaux@law.stetson.edu. Please use “JIWLP application” as the title of your message.
B Rules for cataloguing journals (print and electronic), and serial monographsauthors boards
A serial is defined as a continuing resource issued in a succession of discrete parts, usually bearing numbering, that has no predetermined conclusion. Examples of serials include journals (and e-journals), magazines, directories, statistics, annual reports etc. (AACR Appendix D-7)
These can be divided into 3 types for the purposes of inputting on SWIMS
(1) most journals need to appear in journal listings but are not loaned individually, and therefore need only a Journals catalogue record with indication of the range of holdings. This includes e-journals – see B1-B10
(2) those which need to appear in journal listings because you have a “run” of holdings, but some locations also choose to add each issue to the catalogue for loan as books (whether shelved with the bookstock or the journals). These are journals where each issue usually relates to a specific subject, sometimes known as serial monographs (eg Clinics in Laboratory Medicine; Selected Readings in Plastic Surgery; Orthopedic Clinics of North America) – see B1-B10, and B11 (p7)
(3) those which are published serially, but would not generally be included in journal listings, and are often shelved with the book stock (eg directories, statistics, annual reports; BNF; Recent Advances in….) – catalogue according to Section A (Rule for books…)
BIOGRAPHICAL SKETCH Prof. Santosh Rangnekarauthors boards
Dr. Santosh Rangnekar is a professor at the Indian Institute of Technology Roorkee with over 30 years of experience in academia and industry. His areas of research include organizational behavior, human resource management, knowledge management, and technology management. He has published extensively in these areas. He has supervised many PhD students to completion and currently has 4 students under his supervision. He has held several administrative roles including Head of the Department of Management Studies at IIT Roorkee.
The Asian EFL Journal Professional Teaching authors boards
This document is the August 2009 volume of the Asian EFL Journal, which contains several academic articles on topics related to teaching English as a foreign language. It was published by the Asian EFL Journal Press and edited by Roger Nunn and Paul Robertson. The volume includes an article by Pisarn Chamcharatsri examining how second language writers construct their identities through autoethnography assignments. It also provides background information on 5 students from Taiwan who completed autoethnography papers for a college writing class in the United States.
Module Objectives:
This module will discuss the HINARI website interface, journals, partner publisher’s resources and other full text resources. Understanding how to use the HINARI website is critical for utilizing the available resources. These skills are essential for completion of the exercises in subsequent modules.
Similarly to the first module, you will need access to the Internet and be required to complete a series of exercises.
Our Journal recommends and adheres to Vancouver style for Reference listingauthors boards
For the complete guide to the Vancouver Style, please consult this online book: Citing Medicine, 2nd ed. http://www.ncbi.nlm.nih.gov/books/bv.fcgi?rid=citmed.TOC&depth=2
you can also refer to the following
(i) In text citations: (citing of references in the manuscript text)
• Superscript without any square or round brackets should be used to cite the reference in the text after full stop or periods or before any colons or semi colons.
Example :
......preferred option. 3
.....preferred option3 ;
• For citing more than one reference at a time, cite each reference number separated by a comma, or by a dash for a sequence of consecutive numbers. There should be no spaces between commas or dashes For example: 1,5,6-8.
• The original number used for a reference is reused each time the reference is cited
Journal of Global Infectious Diseases (JGID) a peer-reviewed Semiannual international journal is being published under the auspices of the International Infectiologists Network .
The journal’s full text is online at www.jgid.org With the aim of faster and better dissemination of knowledge, we will be publishing articles ‘Ahead of Print’ immediately on acceptance. In addition, the journal would allow free access (Open Access) to its contents, which is likely to attract more readers and citations to articles published in JGID.
\Manuscripts must be prepared in accordance with "Uniform requirements for Manuscripts submitted to Biomedical Journals" developed by the International Committee of Medical Journal Editors (October 2006). The uniform requirements and specific requirement of JGID are summarized below. Before sending a manuscript contributors are requested to check for the latest instructions available. Instructions are also available from the website of the journal (http://www.jgid.org) and from the manuscript submission site (http://www.journalonweb.com/JGID).
Empowering Influencers: The New Center of Brand-Consumer Dynamics
In the current market landscape, establishing genuine connections with consumers is crucial. This presentation, "Empowering Influencers: The New Center of Brand-Consumer Dynamics," explores how influencers have become pivotal in shaping brand-consumer relationships. We will examine the strategic use of influencers to create authentic, engaging narratives that resonate deeply with target audiences, driving success in the evolved purchase funnel.
Efficient Website Management for Digital Marketing ProsLauren Polinsky
Learn how to optimize website projects, leverage SEO tactics effectively, and implement product-led marketing approaches for enhanced digital presence and ROI.
This session is your key to unlocking the secrets of successful digital marketing campaigns and maximizing your business's online potential.
Actionable tactics you can apply after this session:
- Streamlined Website Management: Discover techniques to streamline website development, manage day-to-day operations efficiently, and ensure smooth project execution.
- Effective SEO Practices: Gain valuable insights into optimizing your website for search engines, improving visibility, and driving organic traffic to your digital assets.
- Leverage Product-Led Marketing: Explore strategies for incorporating product-led marketing principles into your digital marketing efforts, enhancing user engagement and driving conversions.
Don't miss out on this opportunity to elevate your digital marketing game and achieve tangible results!
Did you know that while 50% of content on the internet is in English, English only makes up 26% of the world’s spoken language? And yet 87% of customers won’t buy from an English only website.
Uncover the immense potential of communicating with customers in their own language and learn how translation holds the key to unlocking global growth. Join Smartling CEO, Bryan Murphy, as he reveals how translation software can streamline the translation process and seamlessly integrate into your martech stack for optimal efficiency. And that's not all – he’ll also share some inspiring success stories and practical tips that will turbocharge your multilingual marketing efforts!
Key takeaways:
1. The growth potential of reaching customers in their native language
2. Tips to streamline translation with software and integrations to your tech stack
3. Success stories from companies that have increased lead generation, doubled revenue, and more with translation
Mastering Dynamic Web Designing A Comprehensive Guide.pdfIbrandizer
Dynamic Web Designing involves creating interactive and adaptable web pages that respond to user input and change dynamically, enhancing user experience with real-time data, animations, and personalized content tailored to individual preferences.
In the face of the news of Google beginning to remove cookies from Chrome (30m users at the time of writing), there’s no longer time for marketers to throw their hands up and say “I didn’t know” or “They won’t go through with it”. Reality check - it has already begun - the time to take action is now. The good news is that there are solutions available and ready for adoption… but for many the race to catch up to the modern internet risks being a messy, confusing scramble to get back to "normal"
In this humorous and data-heavy session, join us in a joyous celebration of life honoring the long list of SEO tactics and concepts we lost this year. Remember fondly the beautiful time you shared with defunct ideas like link building, keyword cannibalization, search volume as a value indicator, and even our most cherished of friends: the funnel. Make peace with their loss as you embrace a new paradigm for organic content: Pillar-Based Marketing. Along the way, discover that the results that old SEO and all its trappings brought you weren’t really very good at all, actually.
In this respectful and life-affirming service—erm, session—join Ryan Brock (Chief Solution Officer at DemandJump and author of Pillar-Based Marketing: A Data-Driven Methodology for SEO and Content that Actually Works) and leave with:
• Clear and compelling evidence that most legacy SEO metrics and tactics have slim to no impact on SEO outcomes
• A major mindset shift that eliminates most of the metrics and tactics associated with SEO in favor of a single metric that defines and drives organic ranking success
• Practical, step-by-step methodology for choosing SEO pillar topics and publishing content quickly that ranks fast
Customer Experience is not only for B2C and big box brands. Embark on a transformative journey into the realm of B2B customer experience with our masterclass. In this dynamic session, we'll delve into the intricacies of designing and implementing seamless customer journeys that leave a lasting impression. Explore proven strategies and best practices tailored specifically for the B2B landscape, learning how to navigate complex decision-making processes and cultivate meaningful relationships with clients. From initial engagement to post-sale support, discover how to optimize every touchpoint to deliver exceptional experiences that drive loyalty and revenue growth. Join us and unlock the keys to unparalleled success in the B2B arena.
Key Takeaways:
1. Identify your customer journey and growth areas
2. Build a three-step customer experience strategy
3. Put your CX data to use and drive action in your organization
The Strategic Impact of Storytelling in the Age of AI
In the grand tapestry of marketing, where algorithms analyze data and artificial intelligence predicts trends, one essential thread remains constant — the timeless art of storytelling. As we stand on the precipice of a new era driven by AI, join me in unraveling the narrative alchemy that transforms brands from mere entities into captivating tales that resonate across the digital landscape. In this exploration, we will discover how, in the face of advancing technology, the human touch of a well-crafted story becomes not just a marketing tool but the very essence that breathes life into brands and forges lasting connections with our audience.
janani Digital Marketer|Digital Marketing consultant|Marketing Promotion|Coim...janudm24
Myself Janani Digital marketing consultant located in coimbatore I offer all kinds of digital marketing services for your business requirements such as SEO SMO SMM SMO CAMPAIGNS content writing web design for all your business needs with affordable cost
Digital Marketing Services | Techvolt Software :
Digital Marketing is a latest method of Marketing techniques widely used across the Globe. Digital Marketing is an online marketing technique and methods used for all products and services through Search Engine and Social media advertisements. Previously the marketing techniques were used without using the internet via direct and indirect marketing strategies such as advertising through Telemarketing,Newspapers,Televisions,Posters etc.
List of Services offered in Digital Marketing |Techvolt Software :
Techvolt Software offers best Digital Marketing services for promoting your products and services through online platform on the below methods of Digital marketing
1. Search Engine Optimization (SEO)
2. Search Engine Marketing (SEM)
3. Social Media Optimization (SMO)
4. Social Media Marketing (SMM)
5. Campaigns
Importance | Need of Digital Marketing (Online Promotions) :
1. Quick Promotions through Online
2. Generation of More leads and Business Enquiries via Search Engine and Social Media Platform
3. Latest Technology development vs Business promotions
4. Creation of Social Branding
5. Promotion with less investment
Benefits Digital Marketing Services at Techvolt software :
1. Services offered with Affordable cost
2. Free Content writing
3. Free Dynamic Website design*
4. Best combo offers on website Hosting,design along with digital marketing services
5. Assured Lead Generation through Search Engine and Social Media
6. Online Maintenance Support
Free Website + Digital Marketing Services
Techvolt Software offers Free website design for all customer and clients who is availing the digital marketing services for a minimum period of 6 months.
With Regards
Janani Digital Marketer
Coimbatore,Tamilnadu.
Gokila digital marketing| consultant| Coimbatoredmgokila
Myself Gokila digital marketing consultant located in Coimbatore other various types of digital marketing services such as SEM
SEO SMO SMM CAMPAIGNS content writing web design for all your business needs with affordable cost
Digital Marketing Services | Techvolt Software :
Digital Marketing is a latest method of Marketing techniques widely used across the Globe. Digital Marketing is an online marketing technique and methods used for all products and services through Search Engine and Social media advertisements. Previously the marketing techniques were used without using the internet via direct and indirect marketing strategies such as advertising through Telemarketing,Newspapers,Televisions,Posters etc.
List of Services offered in Digital Marketing |Techvolt Software :
Techvolt Software offers best Digital Marketing services for promoting your products and services through online platform on the below methods of Digital marketing
1. Search Engine Optimization (SEO)
2. Search Engine Marketing (SEM)
3. Social Media Optimization (SMO)
4. Social Media Marketing (SMM)
5. Campaigns
Importance | Need of Digital Marketing (Online Promotions) :
1. Quick Promotions through Online
2. Generation of More leads and Business Enquiries via Search Engine and Social Media Platform
3. Latest Technology development vs Business promotions
4. Creation of Social Branding
5. Promotion with less investment
Benefits Digital Marketing Services at Techvolt software :
1. Services offered with Affordable cost
2. Free Content writing
3. Free Dynamic Website design*
4. Best combo offers on website Hosting,design along with digital marketing services
5. Assured Lead Generation through Search Engine and Social Media
6. Online Maintenance Support
Free Website + Digital Marketing Services
Techvolt Software offers Free website design for all customer and clients who is availing the digital marketing services for a minimum period of 6 months.
With Regards
Gokila digital marketer
Coimbatore
This session will aim to comprehensively review the current state of artificial intelligence techniques for emotional recognition and their potential applications in optimizing digital advertising strategies. Key studies developing AI models for multimodal emotion recognition from videos, images, and neurophysiological signals were analyzed to build content for this session. The session delves deeper into the current challenges, opportunities to help realize the full benefits of emotion AI for personalized digital marketing.
Can you kickstart content marketing when you have a small team or even a team of one? Why yes, you can! Dennis Shiao, founder of marketing agency Attention Retention will detail how to draw insights from subject matter experts (SMEs) and turn them into articles, bylines, blog posts, social media posts and more. He’ll also share tips on content licensing and how to establish a webinar program. Attend this session to learn how to make an impact with content marketing even when you have a small team and limited resources.
Key Takeaways:
- You don't need a large team to start a content marketing program
- A webinar program yields a "one-to-many" approach to content creation
- Use partnerships and licensing to create new content assets
Build marketing products across the customer journey to grow your business and build a relationship with your customer. For example you can build graders, calculators, quizzes, recommendations, chatbots or AR apps. Things like Hubspot's free marketing grader, Moz's site analyzer, VenturePact's mobile app cost calculator, new york times's dialect quiz, Ikea's AR app, L'Oreal's AR app and Nike's fitness apps. All of these examples are free tools that help drive engagement with your brand, build an audience and generate leads for your core business by adding value to a customer during a micro-moment.
Key Takeaways:
Learn how to use specific GPTs to help you Learn how to build your own marketing tools
Generate marketing ideas for your business How to think through and use AI in marketing
How AI changes the marketing game
Trust Element Assessment: How Your Online Presence Affects Outbound Lead Gene...Martal Group
Learn how your business's online presence affects outbound lead generation and what you can do to improve it with a complimentary 13-Point Trust Element Assessment.
From Hope to Despair The Top 10 Reasons Businesses Ditch SEO Tactics.pptxBoston SEO Services
From Hope to Despair: The Top 10 Reasons Businesses Ditch SEO Tactics
Are you tired of seeing your business's online visibility plummet from hope to despair? When it comes to SEO tactics, many businesses find themselves grappling with challenges that lead them to abandon their strategies altogether. In a digital landscape that's constantly evolving, staying on top of SEO best practices is crucial to maintaining a competitive edge.
In this blog, we delve deep into the top 10 reasons why businesses ditch SEO tactics, uncovering the pain points that may resonate with you:
1. Algorithm Changes: The ever-changing algorithms can leave businesses feeling like they're chasing a moving target. Search engines like Google frequently update their algorithms to improve user experience and provide more relevant search results. However, these updates can significantly impact your website's visibility and ranking if you're not prepared.
2. Lack of Results: Investing time and resources without seeing tangible results can be disheartening. The absence of immediate results often leads businesses to lose faith in their SEO strategies. It's important to remember that SEO is a long-term game that requires patience and consistent effort.
3. Technical Challenges: From site speed issues to complex metadata implementation, technical hurdles can be daunting. Overcoming these challenges is crucial for SEO success, as technical issues can hinder your website's performance and user experience.
4. Keyword Competition: Fierce competition for top keywords can make it hard to rank effectively. Businesses often struggle to find the right balance between targeting high-traffic keywords and finding less competitive, niche keywords that can still drive significant traffic.
5. Lack of Understanding of SEO Basics: Many businesses dive into the complex world of SEO without fully grasping the fundamental principles. This lack of understanding can lead to several issues:
Keyword Awareness: Failing to recognize the importance of keyword research and targeting the right keywords in content.
On-Page Optimization: Ignorance regarding crucial on-page elements such as meta tags, headers, and content structure.
Technical SEO Best Practices: Overlooking essential aspects like site speed, mobile responsiveness, and crawlability.
Backlinks: Not understanding the value of high-quality backlinks from reputable sources.
Analytics: Failing to track and analyze data prevents businesses from optimizing their SEO efforts effectively.
6. Unrealistic Expectations and Timeframe: Entrepreneurs often fall prey to the allure of quick fixes and overnight success. Unrealistic expectations can overshadow the reality of the time and effort needed to see tangible results in the highly competitive digital landscape. SEO is a long-term strategy, and setting realistic goals is crucial for success.
#SEO #DigitalMarketing #BusinessGrowth #OnlineVisibility #SEOChallenges #BostonSEO
Lily Ray - Optimize the Forest, Not the Trees: Move Beyond SEO Checklist - Mo...Amsive
Lily Ray, Vice President of SEO Strategy & Research at Amsive, explores optimizing strategies for sustainable growth and explores the impact of AI on the SEO landscape.
Lily Ray - Optimize the Forest, Not the Trees: Move Beyond SEO Checklist - Mo...
Marketing Strategy…… KEY CONCEPTS to review for ETS exam….
1. Marketing Strategy…… KEY CONCEPTS to review for ETS exam….
Marketing Strategy: Key Concepts 1
Concepts, key terms linked to dictionary
Link to Discussion Board
What is Marketing?
Marketing is the process of planning and executing the conception, pricing, promotion
and distribution of ideas, goods and services that satisfy individual and organizational
goals. --- AMA
Product is the platform for attracting customers.
All organizations are in the business of attracting customers.
Can the above two statements be challenged?
Is marketing selling OR does it reduce the need for selling?
Discussion Topic: Challenge the above statements, using your own experiences as
reference.
What are markets?
Exchange, division of labor, positive sum relationships, barter, money reduces friction.
Evolution of markets
1. Traditional bazaars
2. Separation of supply and consumption
3. Mass Markets / Media
4. Target Markets / Niche Media
5. Electronic Markets: Meta Markets
Evolution of the Marketing Concept
1. Production Concept
Demand for goods and services > Supply ... therefore consumers gladly
purchased what was being produced. Producers have a captive market.
Investment on increasing the efficiencies of production had the greatest
impact on company profitability. Thus smart businesses focused on
increasing productivity, rather than understanding the consumer. Henry
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2. Ford's quote: "The customer can have any color car as long as it is black"
is closely identified with this era! This is appropriate for developing
countries, and evolved in the US with the advent of the industrial
revolution.
2. Sales Concept
Demand = Supply ... therefore producers had to convince consumers to
purchase their products. Focus of business investment starts shifting
towards developing a robust sales mechanism in order to communicate
with consumers. The sales concept is also relevant for products consumers
do not seek out ordinarily, such as life insurance and dental treatment.
3. Marketing Concept
Supply > Demand ... therefore producers need to first understand what
consumers wanted, then produce those products, then convince consumers
to purchase those products. Target marketing and market segmentation
became the new tools to increase company profitability.
4. One 2 One (Relationship) Marketing Concept
The Marketing era evolved and saw producers further segment their
markets, targeting smaller groups of consumers within those markets.
With the potential unleashed by the microprocessor and information
technology, we are seeing targeting down to the individual, one to one. A
commonly cited example is Amazon. Notice, if you make a purchase from
this site (or similar) when you return to the site, you will receive
recommendations based on your previous purchases. This presentation is
based not only on your purchases (data stored in your cookie file allows
for this), but on purchases of others who have bought the same book and
similar books.
5. Viral Marketing
An interesting thing is occuring, as we are now in a networked economy.
Our consumers are able to "talk" to each other and serve as an extended
sales force. This lateral communication and / or transaction between
customers and non-customers can serve as an opportunity for companies
to leverage. The pioneer of viral marketing was Hotmail. This Wired
article HotMale discusses this marketing "accident." Another good
example is Bluemountain.com. Since the receiver of the e-card has to visit
the site to access the card, this visit serves to promote the service to the
receiver.
6. Societal Marketing Concept
Companies, more aware of society and the environment at large, promote
their affiliation with the environment. Ben & Jerry's and The Body Shop
are examples.
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3. Discussion Topic: Identify other companies who follow the societal marketing concept.
Discuss the merits of this type of marketing.
Relationship with Selling and Marketing
Selling is an aspect of marketing.
Fire versus Ready, Aim and Fire
Marketing Mix
Marketing Mix, also known as the Four Ps
• Product
• Price
• Place (Distribution)
• Promotion
Target Markets
Organizations select target markets within the entire marketplace using market
segmentation. They then develop a marketing mix to reach the target market.
Discussion Topic: Identify the marketing mix for a product you use.
Four Cs
Macro-environment
Customers
Competitors
Collaborators
Company
Market Planning
4 Cs: Company, Collaborators, Competition, Customers
4 Ps
Market Segmentation
Evaluation and Budgets
Discussion Topic: Identify a recent marketing campaign designed to create negative
demand.
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4. Relevant websites
American Marketing Association
Edmunds.com---Meta Market
SBA: The Marketing Plan
Link to Discussion Board
Return to Syllabus
Old Notes
Marketing Strategy: Key Concepts 2
Section 1, 2
Strategic Planning Process
1. Corporate Level
2. Business Level
3. Product Level
Higher levels (corporate) govern lower level planning processes. Strategic planning
requires:
1. Planning
2. Implementation
3. Control
Corporate Strategic Planning
1. Identify the company's Mission
2. Identify SBUs (customer focused)
3. Allocate Resources across SBUs (BCG Model; GE Model; Product Life Cycle;
systems)
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5. 4. Growth Strategies for SBUs (intensive; integrative; diversification)
Mission Statement: Purpose; Business; Values Reason to be? Invisible hand etc.
Product Terms...outdated
Technology Terms...outdated
Market Terms...keep in touch with consumer's needs
From five years ago, and still relevant:
• AT&T is in the communications business not the telephone business.
• Visa...allows customers to exchange values...not credit cards
• 3M solves problems by putting innovation to work.
Example Mission Statements:
• Mozilla.org
• unicef
• Ben & Jerry's
• PepsiCo
• New York State Education's Mission
Discussion Topic: Find your company's mission statement. How well is this statement
understood among employees and customers? Evaluate the missions statements above
with respect to purpose, business and values.
Identify the limiting factors with the BCG and GE models.
Insead Wharton Alliance.
Discussion Topic: Cite examples of strategic alliances. Identify alliances your company
participates and why.
SBU Strategic Planning
Provides the context for the preparation of the marketing plans for the units products and
services.
1. Defining Business Mission
2. Analyzing External Environment (OT) (economic, demographic, technology,
political, legal, socio and cultural, markets, competitors, collaborators etc.)
3. Analyzing Internal Environment (SW) (competitive advantages, vulnerabilities,
positioning)
4. Choosing Objectives and Goals (specific, measurable, achievable and consistent)
5. Developing Business Strategies (cost leadership; differentiation; focus)
6. Preparing Programs
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6. 7. Implementing Programs (McKinsey 7-S Framework)
8. Gathering Feedback and Exercising Control
If goal is to grow a business by 15%, what other data are relevant to judge the merits of
the goal?
Discussion Topic: Create a SWOT analysis of your own business (business unit).
Marketing Plans
Focus on product and market; focus on detailed marketing strategies for achieving the
product's objectives in a target market.
Consider the difference between strategic marketing and tactical marketing.
Marketing Planning Process includes:
1. Analyzing marketing opportunities
2. Researching and selecting target markets
3. Designing marketing strategies
4. planning marketing programs (marketing mix)
5. implementation and control
Put another way:
1. Situation Analysis
o Corporate Capabilities and Culture
o Customer Analysis
o Competitive Analysis
o Collaborators
o Macro Issues
o SWOT Analysis
o Objectives
o Alternative Strategies
2. Action Plans
o Evaluation and Recommendations
o Marketing Mix Elements (Product, Price, Promotion, Place)
3. Implementation and Evaluation
o Forecasting and Budgeting
o Measures of Effectiveness
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7. Discuss Can Priceline Remain Profitable with respect to strategic planning issues.
Identify the four Cs: Customer, collaborator, competition and company
Consider past and future growth strategies
Consider the four Ps: Price, Product, Promotion and Place.
Business Markets
More sales by value in B2B than B2C.
Purchase for:
o Production
o Resale
o Redistribution
o MRO (Maintenance, Repair and Operations) 80% business purchases
versus ...
In order to:
o Increase Sales
o Cut Costs
o Meet Social and Legal Requirements
Customers are:
o Businesses for Profit
o Non-Profits
o Governments
Characteristics of Business Customers:
o Risk Averse
o Knowledgeable
o Price-oriented
o Fewer and Larger
o Nature of Demand (Derived, Inelastic, Fluctuating)
o Purchase versus Lease
Buying Process consists of:
o Problem Recognition
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8. o General Need Description
o Product Specification
o Supplier Search
o Proposal Solicitation
o Supplier Selection
o Order Routine Specification
o Performance Review
Modified depending on whether: Straight rebuy, Modified rebuy or New task.
Contrast this with the Consumer buying process?
Who makes the purchasing decision?
What are the contextual elements that affect the decision?
What is included in purchase: re: customer service levels etc.
Evolution of Business Buying
o Develop relationships versus adversarial contest: Extranets; increase lock-
in.
o Geographic Concentration: Ecosystems
The Evolution of B2B: Lessons From the Auto Industry
GE Global eXchange Services
Dell Medium and Large Business Home Page
Dealing with Competition
Porter's five basic forces of competition:
1. Threat of new entrants
2. Rivalry among existing competitors
3. Bargaining power of suppliers
4. Bargaining power of buyer
5. Threat of substitutes
Whenever you make choices with respect to your customers (business or final
consumers), you need to be aware how your competition changes as a function of
your decisions. Understanding the prisoners dilemma model is useful. Clearly
your relation compared to other competitors is important (market leader versus
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9. follower for instance) and the nature of the marketplace (monopoly, oligopoly and
monopolistic competition).
Consequences of zero percent financing for autos?
Need to consider competitors AND customers for decisions.
Importance of competitive intelligence.
Classification of competitors (brand, industry, form, generic)
Keep competitors?
Industry Concept of Competition:
o Impacts of Barriers to Entry and Exit
o Number of sellers and degree of competition (monopoly, oligopoly,
monopolistic competition, pure competition)
o Cost Structure
o Degree of Vertical Integration
o Degree of Globalization
New Entrants:
Innovators Dilemma
Disruptive Technology
Priceline, Expedia and American Airlines versus Travel Agent market place.
Discussion Topic: Identify and discuss other industries prone to disruptive
technologies.
SBA: The Marketing Plan
The Marketing Audit Comes of Age
How to Write a Mission Statement
Link to discussion board
Return to Syllabus
Marketing Strategy: Key Concepts 3
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10. Customers are increasingly important.
One of multiple stakeholders that need to be addressed
(employees, stockholders, suppliers and distributors)
---Grotto Pizza Mission
Corporate culture needs to be consumer-centric (begins
with the mission)
Acquire customers (set expectations) versus retain
customers (do expectations fit with reality)
Perceived value (quality, service and value) versus
delivered value
Beat customer expectations. (delight customers)
How do customers perceive quality, how do you offer it
better than your competitors do?
• Evolution of Marketing Concept supports this:
• Competition in the Marketplace increasing (and
global)
• Technology (DB and communications) allows
customers to learn more ---look at the evolution.
Relationship Marketing Management
Need to build satisfaction through customer relationship
development activities.
Relationship Marketing, process of attracting and retaining
customers. Add financial benefits, social benefits and
structural ties.
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11. Life-time Value of a customer versus cost of acquiring a
customer
Customer Acquisition Math Example:
Cost of Sales Call $500
Succes of Sales Call: 1 / 5
Cost of new customer $2,500 (not including overhead)
Average Life Value of Customer:
Annual Customer Revenue: $10,000
Average Life Time: 3 years
Profit Margin: 10%
Life Time Value: $3,000
This looks at averages, not at different consumers.
Do not try to satisfy all customers ... some more profitable
than others. Fire customers, or move them to higher
profitability (increase price, reduce cost of service). 20-80-
30 rule
Customers do not ordinarily complain, they simply do not
buy, and they may tell others! Encourage complaints to
filter to your company. (See Kellogg discussion)
Cost of lost customers?
Surveying lost customers
Discussion Topic: How does your company process
customer complaints. what is done with them re: interaction
with customer and changing business process?
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12. (Alternatively, as a customer, how have your complaints
been handled?)
Internal marketing needs
Making Customer Relationship Management Work
Customer Service
Customer service comments:
Wharton MBA Site
E-mail Autoresponder Wharton, HBS Response, Kellog
Response
Wharton Adcomm. taking questions
the least applicant-friendly B-school: Listed Reasons for
Wharton
JUDGE THE ADMISSIONS OFFICES
What is Up w/ Kellogg Guy?
Shanghai interview ---students helping students, serving
better than we could.
Discussion Topic: Provide your own examples of
excellent / poor customer service that have material impact
on retaining / losing customers (use examples from a
business and or customer perspective).
Discussion Topic: How does your company use its web-site
for customer service and / or customer relationship
building?
Marketing Environmental Buyer's Buyer's Decision Buyer's
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13. Stimuli Stimuli Characteristics Process Decisions
Product Economic Cultural
Problem
Recognition
Prudct Choice
Price Technology Social
Information
Search
Brand Choice
Promotion Political Personal Evaluation
Dealer
Choice
Place Cultural Psychological Purchase Decision
Purchase
Timing
Post Purchase
Behavior
Purchase
Amount
Intro: CBB ... Not just about changing promotions, but
entire marketing mixes.
Cultural Characteristics: Values, Perceptions, preferences
and behaviors (learned from family), fundamental to
persons wants.
Buyer behavior influenced by four factors:
• cultural (culture, sub culture and social class
(ethnocentrism and patriotism))
• social (reference groups, family, and roles and
statuses)
• personal (age and life cycle state, occupation,
economic circumstance, life style, personality and self
concept)
• psychological (motivation (freud, maslow, hertzberg),
perception, learning, and beliefs and attitudes)
Do Mixed Emotions and Advertising Mix?
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14. How Store Location and Pricing Structure Affect Shopping
Behavior
Decision influencers (initiator, influencer, decider, buyer
and user) ... not as complex as B2B buying decision
influencers.
Types of Buying Situations:
• Complex Buying Behavior
• Dissonance Reducing Buying Behavior
• Habitual Buying Behavior
• Variety Seeking Buying Behavior
Consumer decision-making process:
1. Need Recognition
2. Information Search
3. Evaluation of Alternatives
4. Purchase Decision
5. Post Purchase Behavior
got milk? Change consumer attitudes about milk.
Patriotism
Wharton MBA Purchase Process
SRI Business Intelligence: VALS, Psychology of Markets
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15. Discussion Topic: Why use iVALS and psychographic
segmentation? Which marketers would benefit most from
iVals segmentation and why?
Privacy versus Understanding the customer, on the net.
Yankelovich
Link to old class notes.
Link to discussion board
Return to Syllabus
Marketing Strategy: Key Concepts 4
Marketing Mathematics
The basic marketing math that is needed to help make
marketing decisions are below. These are critical to
understand when performing case analysis.
They include:
• Break Even Analysis
• Lifetime Value of the Customer
• Market Segment Sizing
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16. Market Segment Sizing
Estimate the number of customers by starting with the most
general population, and then reducing according to the
characteristics of the actual segment being sought.
Segment value = Number of Customers x Value per
Customer
Number of Customers = Population x Segment Size (%) x
Segment Penetration (%)
Customer Value = Customer Usage Rate x Unit Price ($) x
Unit Contribution (%)
Improving Decision Making With Simple Break-Even
Analysis
Attacking Business Decision Problems With Break-even
Analysis
Formula for Incremental Break-Even Analysis
Lifetime Value in Relationship Marketing
Determining Customer Lifetime Value for your Internet
Marketing Plan
The Lifetime Value of a Customer
**Discussion Topic: Any issues with respect to the above
marketing mathematics?
Marketing Information Collection
Marketing Information System:
1. Internal records
2. marketing intelligence system
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17. 3. marketing research
1. defining problem and research objectives
2. developing the research plan
3. collecting information
4. analyzing information
5. presenting findings
4. marketing decision support system
**Discussion Topic: Assess the impact of the web on the
area of data gathering.
Primary research: Data gathering.
Example surveys:
Stanford Web-site Survey
Wharton Matric Survey
**Discussion Topic: After reviewing the Wharton and
Stanford surveys, discuss the goals of the surveys, in terms
of what each school is trying to learn. Comment on the
effectiveness of each survey.
Note: Zoomerang is a great resource for designing online
surveys.
Balance between data gathering and the need for privacy.
Junkbusters.com: A great site to explore your privacy
rights/issues.
Some useful secondary resource sites on the web:
Business Information
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18. Cyberatlas.com, CommerceNet, American Marketing
Association, A Business Researchers Interests, Bloomberg,
C/Net, EDGAR, Hoover's, National Trade Data Bank,
Public Register's Annual Report Service
Government
Census Bureau, FedWorld, Thomas
International
The Electronic Embassy, I-Trade, The United Nations
Non Profit
Idealist.org, Internet Non Profit Center, Nonprofit Resource
Center
Importance of demand analysis, market demand, product
demand, expansible markets.
Macroenvironment
• Demographic
• Economic
• natural
• technological
• political/legal
• social/cultural
interrelationships
Faith Popcorn's Trends
Sierra Club
Creative Destruction: The Essence of Capitalism
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19. Relevant K@W Article:
Role Playing: A Method to Forecast Decisions
Role Playing as a Forecasting Tool
Marketing Science Meets Hollywood
Forecasting in Conflicts: How to predict what your
opponenet will do.
Making CD Sales Ring
Ethical Inspirations for Marketing Managers
Link to discussion board
Return to Syllabus
Marketing Strategy: Key Concepts 5
Product scope: goods, services, experiences, events,
persons, places, properties, organizations, information and
ideas.
Product Levels:
1. Core Benefits
2. Basic Product: to satisfy core benefit sought
3. Expected Product: meet buyers expectations for
product
Focus of competition in LDC
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20. 4. Augmented Product: exceed expectations
Focus of competition in developed countries
5. Potential Product: future possibilities
Competitive pressures push competition at the augmented
level, features at the augmented level become expected
features, as the market adopts new features, further
heightening competition. This leaves room to develop
stripped down products for price conscious market.
Delight Customers by exceeding expectations.
Product Hierarchy:
1. Need Family
2. Product Family
3. Product Class
4. Product Line
5. Product Type
6. Brand
7. Item
Product Classifications: Different types of goods require
different marketing mixes to be successful.
1. Durable Goods
2. Non Durable Goods
3. Services
Innovation of batteries?
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21. Consumer Goods Classification:
• Convenience: Packaging is important to sell the
product. Consumers will accept a substitute. Marketers
focus on intense distribution, time utility. Convenience
products can be categorized into staple (milk), impulse
(not intended prior to shopping trip).
• Shopping: Consumers expend considerable effort
planning and making purchase decisions (i.e.,
appliances, stereos, cameras). Consumers are not
particularly brand loyal. Need producer intermediary
cooperation, high margins, less outlets than
convenience goods. Use of sales personnel,
communication of competitive advantage, branding,
advertising, customer service etc. Attribute based
(Non Price Competition), product with the best set of
attributes is bought. If product attributes are judged to
be similar, then priced based.
• Specialty: Buyer knows what they want and will not
accept a substitute, IE Mercedes. Do not compare
alternatives. Brand, store and person loyal. Will pay a
premium if necessary. Need reminder advertising.
• Unsought: Sudden problem to resolve, products to
which consumers are unaware, products that people do
not necessary think of purchasing. Umbrellas, Funeral
Plots, Encyclopedia!!
Industrial Goods Classification:
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22. • Production Goods
o Raw Materials:
o Component parts: becomes part of the physical
product: Intel, Gore
o Process materials: not readily identifiable part of
the production of other products
• Support Goods
o Major Equipment:
o Accessory Equipment: desk tops and tools
o Consumable Supplies: IE Paper, pencils or ink
cartridges
o Business-to-Business services: Financial, legal
marketing research etc.
If an organization is marketing more than one product, it
has a product mix.
• Product item--a single product
• Product line--all items of the same type
• Product mix--total group of products that an
organization markets
Depth measures the # of products that are offered within
each product line. Satisfies several consumer segments for
the same product, maximizes shelf space, discourages
competitors, covers a range of prices and sustains dealer
support. High cost in inventory etc.
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23. Width measures the # of product lines a company offers.
Enables a firm to diversify products, appeals to different
consumer needs and encourages one stop shopping.
Product Line Decisions:
Cannibalization and consumer movement issues
Internal (company) versus external (market)
needs/decisions
Coke Hunts for Talent ro Re-Establish Its Marketing Might
Brand
What is Branding? Why Brand?
Definition:
A name, term, design, symbol or any other feature that
identifies one seller's good or service as distinct from
another’s.
• Brand name is that part that can be spoken, including
letters, words and #s, IE 7UP.
Brand names simplify shopping, guarantee a certain
level of quality and allow for self-expression.
• Brand mark-elements of the brand that cannot not be
spoken, IE symbol/ logo
• Trade Character IE Ronald McDonald, Pillsbury
Doughboy
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24. • Trade mark - legal designation that the owner has
exclusive rights to the brand or part of a brand.
• Tradename-The full legal name of the organization. IE
Ford, not the name for a specific product.
Provides benefits to buyers and sellers
TO BUYER:
• Help buyers identify the product that they like/dislike.
• Identify marketer
• Helps reduce the time needed for purchase.
• Helps buyers evaluate quality of products especially if
unable to judge a products characteristics.
• Helps reduce buyer’s perceived risk of purchase.
• Buyer may derive a psychological reward from
owning the brand, IE Rolex or Mercedes.
TO SELLER:
• Differentiate product offering from competitors
• Helps segment market by creating tailored images
• Brand identifies the companies products making
repeat purchases easier for customers
• Reduce price comparisons
• Brand helps firm introduce a new product that carries
the name of one or more of its existing products...half
as much as using a new brand, lower co. designs,
advertising and promotional costs
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25. • Easier cooperation with intermediaries with well
known brands
• Facilitates promotional efforts
• Helps foster brand loyalty helping to stabilize market
share.
• Firms may be able to charge a premium for the brand.
Branding versus Tactical Promotions?
Brand Equity (Customer Equity)
Operating profits - expected profits for generic $: 10 Most
Valuable
Share of Mind, Attitudes = ImagePower. Landor Associates
Brand awareness = considered set
Brand awareness:
1. within relevant market(s)
2. with influencers
3. with entire market
The Best Global Brands: Handout
Interbrand: Best Global Brand
Brand Name Decisions:
• Individual Names: Procter and Gamble, Tide, Cheer,
Bold
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26. • Family Names: GE, AT&T, and Sears
• Trade name with individual product name: Kraft
Products
• MF Brand versus Private Brand?
Selecting a Brand Name
Criteria for choosing a name, some issues to consider:
• Easy for customers to say, spell and recall (inc.
international ppl)
• Indicate products major benefits
• Should be distinctive
• Compatible with all products in product line
• Used and recognized in all types of media
• Single and multiple words Bic, Dodge Grand Caravan,
IBM PC (letters), or a combination Mazda RX7
• Availability, already over 400 car "name plates", this
makes it difficult to select a new one.
• Use words of no meaning to avoid negative
connotation, Kodak, Exxon
• Can be created internally by the organization, or by a
consultancy
• Legal restrictions, i.e. Food products must adhere to
the Nutrition Labeling and Education Act, 1990...May
8 1994
• Global translations ?
The Brand Pyramid:
1. Features: tangible characteristics of product
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27. 2. Functional Benefits: benefits to consumer for brand
features
3. Emotional Rewards: psychological or emotional
benefits received by using brand's product?
4. Values: what are the values of the typical loyal
customer for this brand?
5. Personality: what words would you use to describe
brand if it were a person?
NameLab
Domain Names: Highjacking issues? (Highjacked Domain
and New Domain): Help! I've Lost My Domain Name!
Discussion Topic: Investigate the above issues to determine
who has rights to the use of a domain name.
Online brand investment versus offline brand investment
Pampers
Discussion Topic: Discuss the challenges of branding on
the web, how are Pampers developing a branding strategy?
Arthur Andersen changes name to Andersen
Accenture now a clear winner without Andersen name
Is there a window of confusion?
Andersen, Accenture
Discussion Topic: Discuss the evolution of the value of the
brand: Andersen
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28. Brand Licensing
Discussion Topic: Discuss the role the corporate logo plays
in branding. Cite logos and their inherent value. Discuss
logos which have changed, and why?
Packaging
Consists of a products physical container, label and/or
insert.
Approximately 10% of product selling cost.
Development of a container and a graphic design for a
product. Can affect purchase decisions IE pump dispenser
on a tube of toothpaste.
Packaging Functions include:
• Protect product and maintain functional form, IE milk.
• Foil shop lifting
• Offer convenience, Usage
• Promote product by communicating features "last 5
seconds of mktg", Campbells red labels...
• Develop reusable package for alternative use.
• Segmentation, tailored to a specific group
Packaging decision serve the channel members and the
final consumer.
• Cost--how much are customers willing to pay for the
packaging?
• Preprinted cost, use UPC codes
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29. • Must comply with the FDA packaging regulations.
• Make product tampering evident to the reseller and
customer, cost benefit with liability
• Need to consider consistency among package
designs--Family packaging...category
consistent...Pringles
• Need to inform potential buyers of new products
content, features, uses, advantages and hazards.
• Need to create a desirable image through color etc.
Can be designed to appear taller or shorter (thin
vertical lines for taller) People associate specific
colors with certain feelings, Red with fire. Do not
package meet in green!!
• Must meet the needs of resellers--transportation,
storage and handling.
• Environmental responsibility.
CD Packing Issues
AOL Packaging
Labeling
Product Positioning and Product Repositioning
Definition:
This refers to a place a product offering occupies in
consumers' minds on important attributes, relative to
competing offerings.
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30. How new and current items in the product mix are
perceived, in the minds of the consumer, therefore
reemphasizing the importance of perception!!
New Product--need to communicate benefits
Established Products--need to reinforce benefits
Ideal Characteristics
Need to introduce products that possess characteristics that
the target market most desires, ideal. Product positioning is
crucial.
Consumers desires refer to the attributes consumers would
like the products to possess--IDEAL POINTS.
Whenever a group of consumers has a distinctive "ideal"
for a product category, they represent a potential target
market segment.
A firm does well if its attributes (of the product) are
perceived by consumers as being close to their ideal. The
objective is to be "more ideal" than the competitors.
Each product must provide some unique combination of
new features desired by the target market.
Instead of allowing the customer to position products
independently, marketers try to influence and shape
consumers concepts and perceptions.
Marketers can use perception maps.
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31. Existing Products
Sun Tan Lotion Example:
^
|
|
Old Position | New Position
|
|
|
Glamour--------------------------------------------------Health
|
|
|
|
|
|
|
Traditional sun tan lotion positioned as aiding in getting a
very glamorous deep tan etc.
Dermatologist reports...skin cancer etc.
Lifestyle needs change, move to more health conscious
society
Need to reposition sun tan lotion as a healthy way to be
exposed to the sun.
Target market has shifted from the left quartile to the right
quartile as far as needs are concerned.
Sun tan marketers need to do same as far as changing
consumers perception for the product.
How?
• Change Promotion: "Tan don't Burn" The St. Tropez
Tan vs. Ultra Sweat Proof Serious tan for...Be Sun
Smart
• Change Product: Sunscreen and sunless tanning agent.
BMW positions on affordability
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32. ^
Very Safe
| Lexus/infiniti
| Mercedes
| BMW
|
|
|
Cheap--------------------------------------------------Expensive
|
|
|
|
|
|
|
Very Unsafe
BMW, to reposition up to the left
Due to the exchange rate, Lexus moves to the right
Why did they reposition?
Safety
Affordability
Competitors include Infiniti, Lexus, Mercedes Benz and
Aurora
If you already have a brand in the market, must be sure to
avoid cannibalization. Attributes and brand image should
give a product distinct appeal.
New Product Positioning
When developing a new product, a company should
identify all the features that are offered by all its major
competitors.
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33. Second, identify important features/benefits used in making
purchase decisions.
Determine the overall ranking of features by importance
and relate the importance of each feature to its
"uniqueness": what are the unique selling points (USPs).
For example, you wouldn't buy a spreadsheet program that
if it didn't perform basic math, so basic math is very
important.
However since every spreadsheet has that it’s an "important
fundamental feature", instead of an "important
differentiating feature".
The other side would be a spreadsheet that displays all
numbers in binary (0-1) instead of "normal" numbers (0-9).
This is unique but not important.
The evaluation becomes a 2 x 2 matrix with uniqueness on
the X-axis and importance on the Y-axis.
^
X Important to TM (Stockbroker) X
Math functions | Import Data
|
|
|
|
|
----------------------------------------------------------Unique
|
|
|
|
|
|
| X
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34. Binary Data
If the feature is in the upper right hand corner then you
probably have a winning feature (USP).
This is known as feature positioning, as opposed to product
positioning. One can then see what type of customer needs
the important (and perhaps unique) features.
If your spreadsheet accepts continuous data in real-time
(such as stock market data) while Excel doesn't, you'd
position your spreadsheet as a "real-time spreadsheet with
all calculations needed by Wall Street."
Its a claim that tells something unique about your product,
who it's for, and by implication, that Excel can't do it.
Product Life Cycle
Popularized by Theodore Levitt, 1965
PLC can be applied to:
• product category (Watch)
• product style (Digital)
• a product item/brand (Timex)
Four Stages to the Product Life Cycle:
1. Introduction
2. Growth
3. Maturity
4. Decline
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35. The following material refers to the PLC as far as the
product category is concerned unless otherwise stated.
Introduction
Failure rate for new products can range from 60%-90%,
depending on the industry. A product does not have to be
an entirely new product, can be a new model (car), a new
product for the company, or repositioning a product to a
new market.
Marketing Mix (MM) considerations
Need to build channels of distribution/selective distribution
Dealers offered promotional assistance to support the
product...PUSH strategy.
Develop primary demand/pioneering information,
communications should stress the benefits of the product to
the consumer, as opposed to the brand name of the
particular product, since there will be little competition at
this stage and you need to educate consumers of the
product's benefits.
Price skimming...set a high price in order to recover
developmental costs as soon as possible.
Price penetration...set a low price in order to avoid
encouraging competitors to enter the market, also helps
increase demand and therefore allows the company to take
advantage of economies of scale.
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36. Growth
Need to encourage strong brand loyalty; competitors are
entering the market place. Profits begin to decline late in
the growth stage.
May need to pursue further segmentation.
MM considerations
May need to perform some type of product modification to
correct weak or omitted attributes in the product.
Need to build brand loyalty (selective demand),
communications should stress the brand of the product,
since consumers are more aware of the products benefits
and there is more competition, must differentiate your
offering from your competitors.
May begin to move toward intensive distribution-the
product is more accepted; therefore intermediaries are more
inclined to risk accepting the product.
Price dealing/cutting or meeting competition, especially if
previously adopted a price skimming strategy.
Maturity
Sales curve peaks-severe competition, consumers are now
experienced specialists.
MM Considerations
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37. A product may be rejuvenated through a change in the
packaging, new models or aesthetic changes.
Advertising focuses on differentiating a brand, sales
promotion aimed at customer (PULL) and reseller (PUSH).
Move to more intense distribution
Price dealing/cutting or meeting competition
Provides company with a large, loyal group of stable
customers. Generally cash cows that can support other
products.
Strategies during maturity include:
• Modification of product...use line extensions
• Reposition Product
Weaker competition will have left the market place.
Decline
Sales fall off rapidly. Can be caused by new technology or
a social trend.
Can justify continuing with the product as long as it
contributes to profits or enhances the effectiveness of the
product mix.
Need to decide to eliminate or reposition to extend its life.
MM Considerations
Some competition drop out
Need to time and execute properly the introduction,
alteration and termination of a product.
Cannibalization strategies to introduce new products.
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38. Need to manage product mix through their respective life-
cycles. When to decide to introduce new (modified)
products that compete with the current product offering.
With high-tech products, need to consider introducing new
(and competing) products as the existing product is still in
the growth stage of its life cycle.
Different types of Life Cycle Curves
• Fad Curve
Fleeting fashions vs. lasting shifts in consumer
preference. Cannot differentiate between the two using
usual marketing tools like focus groups.
"Hand anyone a hula hoop, and they'll have fun with
it--at first"
• Seasonal Curve
Life cycles that vary by season, clothing etc.
Developing and Managing Products
To compete effectively and achieve goals of an
organization, the organization must be able to adjust its
product mix.
Need to understand competition and customer attitudes and
preferences.
Timex Turns down the Swatch
1982, Timex turned down the opportunity to market
"Swatches".
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39. Timex was resting on its laurels, simple low cost watches.
Digital revolutionized industry technological change,
Timex stuck with analog.
DID NOT KEEP UP WITH WATCHES EVOLUTION
FROM A FUNCTIONAL OBJECT TO A FASHION
ACCESSORY.
Now consumer owns 5 watches up from 1.5 30 years ago
(emphasizing fashion need). Timex has acquired Guess and
Monet Jewellers (distribution outlets) in an effort respond
to change.
Product mix:
Dressy watches to Walt Disney Character watches, Indigo.
Now have 1,500 styles, 300 in 1970.
Developing New Products
Need to develop new products. A new product can be:
• Continuous Innovation...No new buyer behavior to
learn, i.e. -products not previously marketed by the
firm, but by others
• Dynamic Continuous Innovation...minor education
needed for consumers to adopt product
• Discontinuous Innovation...entirely new consumption
patterns
DVD Standard
DVD Association
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40. Discussion Topic: Discuss the evolution of the DVD
standard and its importance in new product
development.
For a new product to succeed it must have:
• desirable attributes
• be unique
• have its features communicated to the consumer (mkt
support necessary)
Developing new products is expensive and risky.
Failure not to introduce new products is also risky. IE
Timex above
Firms develop new products in three ways:
• By acquisition, i.e. Timex bought Guess and Monet
Jewellers in 1992, bringing in new products to their
product mix.
• Acquiring patents, licensing technology
• Internal development, this is what we are going to
focus on.
About 20K new products a year launched: about 75% are
brand extensions.
Why New Products Fail
• Lack of differentiating advantage
• Poor marketing plan
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41. • Poor timing
• Target market too small
• Poor product quality
• No access to market
Seven phases to new product development:
1. New Product Strategy Development
Only a few ideas are good enough to reach
commercialization. Ideas can be generated by chance,
or by systematic approach and by company culture
(3M). Need a purposeful, focused effort to identify
new ways to serve a market. New opportunities appear
from the changes in the environment.
2. Idea Generation
Continuous systematic search for new product
opportunities.
o Marketing oriented sources--identify
opportunities based on consumer needs, lab
research is directed to satisfy that research. 1-
800#s, research etc.
o Laboratory oriented sources--identify
opportunities based on pure research or applied
research.
o Intrafirm devises--brain storming, incentives and
rewards for ideas. 3Ms Post it, from choir
practice. Hewlett Parkards lab is open 24 hrs.
day. Analyzing existing products, reading trade
publications.
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42. Brainstorming for your group project. Ideas
should not be criticized, no matter how off-beat
they are.
3. Product Screening and Evaluation
New product check list; list new product attributes
considered most important and compare each with
these attributes. Check list is standardized and allows
ideas to be compared.
--General characteristics, Marketing Characteristics
and Production Characteristics.
Ideas with the greatest potential are selected for
further research.
Do they match the organizations goals (Some
companies have many patents that they have not
exploited for this very reason.)
Look at companies’ ability to produce and market the
product.
Need to look at the nature and wants of the buyers and
possible environmental changes.
Concept Testing
Sample of potential buyers is presented with the
product idea through a written or oral description to
determine the attitudes and initial buying intentions.
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43. Conjoint Analysis to see feature tradeoffs.
This is done before investing considerable sums of
money and resources in Research and Development.
Can better understand product attributes and the
benefits customers feel are most important.
Would you buy the product?
Would you replace your current brand with the new
product?
Would this product meet real needs?
4. Business Analysis
Analyze potential contribution to sales, costs and
profits.
Does the product fit into the current product mix?
What kind of environmental and competitive changes
can be anticipated?
How will these changes effect sales etc.?
Are the internal resources adequate?
Cost and time line of new facilities etc.?
Is financing available?
Synergies with distribution channel etc.
MIS to determine the market potential sales etc.
Patentability should be determined, last 17 years, 14
years for a pharmaceutical product.
Find out if it is technically feasible to produce the new
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44. product.
If you can produce the new product at a low enough
cost so as to be able to make a profit.
5. Product Development
Develop a prototype, working model, lab test etc.
Attributes that consumers have identified that they
want must be communicated through the design of the
product.
6. Test Marketing
Can observe actual consumer behavior.
Limited introduction in geographical areas chosen to
represent intended market.
Aim is to determine the reaction of probable buyers.
It is the sample launch of the Marketing Mix.
Determine to go ahead, modify product, modify
marketing plan or drop the product.
PROS are:
o Lessens the risk of product failure.
o Reduces the risk of loss of credibility or
undercutting a profitable product.
o Can determine the weaknesses in the MM and
make adjustments.
o Can also vary parts of the MM during the test
market.
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45. o Need to select the appropriate MM and check the
validity.
CONS are:
o Test market is expensive.
o Firm's competitors may interfere.
o Competitors may copy the product and rush it
out. IE Clorox detergent with bleach P&G. "In a
live test you've tipped your hand, and believe me,
the competition is going to come after you.
Unless you have patented chemistry, they can rip
you off and beat you to a national launch"
-Director of Marketing at Gillette's Personnel
division.
Alternatively can use a simulated test market. Free
samples offered in the mall, taken home and
interviewed over the telephone later.
7. Commercialization
Corresponds to introduction stage of the Product Life
Cycle.
Plans for full-scale marketing and manufacturing must
be refined and settled.
Need to analyze the results of the test market to
determine any changes in the marketing mix.
Need to make decisions regarding warranties etc
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46. (reduces consumers risk). Warranties can offer a
competitive advantage.
Spend alot of $s on advertising, personnel etc.
Combined with capital expenditure makes
commercialization very expensive.
Need to consider:
• the speed of acceptance among consumers and
channel members;
• intensity of distribution,
• production capabilities,
• promotional capabilities,
• prices,
• competition,
• time period to profitability and commercialization
costs.
Buyers' Product Adoption Process
1. Awareness
Buyers become aware of the product
2. Interest
Buyers seek information and is receptive to learning
about product
3. Evaluation
Buyers consider product benefits and determines
whether to try it
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47. 4. Trial
Buyers examine, test or try the product to determine
usefulness relative to needs
5. Adoption
Buyers purchase the product and can be expected to
use it when the need for the general type of product
arises.
Rate of adoption depends on consumer traits as well as the
product and the firm's marketing efforts.
Diffusion Process
The manner in which different members of the target
market often accept and purchase a product (go through the
adoption process)
1. Innovators
Techno-savvies first customers to buy a product, 2.5
% of consumers
2. Early Adopters
Tend to be opinion leaders. Adopt new products but
use discretion, 13.5%
3. Early Majority
34% of consumers, first part of the mass market to buy
the product
4. Late Majority
Less cosmopolitan and responsive to change, 34%
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48. 5. Laggards
Price conscious, suspicious of change, 16%, do not
adopt until the product has reached maturity.
Implications to marketers, company must promote product
to create widespread awareness of existence and benefits.
Product and physical distribution must be linked to patterns
of adoption and repeat purchase.
Discussion topic: Discuss the differences in the new
product development process for digital goods versus
tangible goods, consider intellectual property issues,
standards issues etc?
Relevant Knowledge@Wharton Articles
Corporate Sponsorships of Stadiums and Other Institutions
Don’t Always Pay Off
Switching names, effect of brand. Value to stadiums, value
to customers?
How to Keep Others From Ripping Off Your Ideas
Poachers Are Out to Plunder Your Intellectual Property
Can you Do Anything?
Intellectual Property: WIPO
Intellectual Property and the National Information
Infrastructure
Link to discussion board
Return to Syllabus
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49. Marketing Strategy: Key Concepts 6
Market Focus: Domestic versus International
Protectionism versus open markets?
Who's Standards to adopt, home country or host country?
Should company play by host rules or try to change them?
Unions, Environmentalists
GWB: Free Trade area EU to impose tariffs to protect steel
market
Some risks include:
• changing borders
• unstable governments
• foreign exchange issues (devaluations etc?)
• technology pirating
• adaption costs for product and communication strategy
Steps to consider:
• determine the international market environment
(economic, political, legal and cultural); international
trade system
• few versus many countries, percentage of sales
• determine which market to enter, risk versus rate of
return
• how to enter the market? exporting, licensing, joint
ventures and direct investment
• adaption of 4 Ps?: Text Books!
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50. • organizational structure for international business?
Economist: March 2nd, 2002 :The Short Arm of the Law
Discussion Topic: Discuss the complications of removing
bribery from international transactions. What are the
outcomes for economies?
International marketing is not always about going
overseas?
Las Vegas?
General International Links:
Babel Fish
US Depts. of Commerce International Trade
Administration, Export-Import Bank of the United States,
The Bureau of Export Administration
Links to Trade Alliances:
WTO / GATT, NAFTA, EU for the US, European Union
Online
Links for Bribery Discussion:
OECD: Organisation for Economic Co-Operation and
Development, Foreign Corrupt Practices Act, Transparency
International, Shell: Management Primers
Services
All products include a service component.
• Intangible (associate w/ tangible representation)
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51. • Inseparable (influence providers)
• Perishable (influence demand)
• Variable (standardization issues)
General Marketing Issues:
• External Marketing
• Internal Marketing
• Interactive Marketing
3 additional Ps
• People
• Physical Evidence
• Processes
Focus:
• Search Qualities: Goods (clothing, jewelery)
• Experience Qualities
• Credence Qualities: Services (medical, auto repair,
legal services)
Relevant Knowledge@Wharton Articles
Prescription Drug Coverage for Seniors Faces Uncertain
Future
A Live Baby or Your Money Back
Poachers Are Out to Plunder Your Intellectual Property –
Can You Do Anything?
Ethical Standards for Global Corporations?
Ethical Inspiration for Marketing Managers
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52. A Search for Google’s Success Turns Up Two Words:
Trust and Technology
Link to discussion board
Return to Syllabus
Marketing Strategy: Key Concepts 7
What is price?
Price is the value exchanged for the product.
• Economic (inc. barter)
• Freedom of Choice (lock-in, opportunity cost)
• Privacy
Evolution of pricing mechanisms: Fixed versus variable:
• Chapt. 2 Digital Darwinism.
• Pioneer of fixed pricing: Aaron Montgomery Ward
Only element of the MM that is given in return
Importance of (the economic aspect of) Price to the Marketer
• Often the only element the marketer can change
quickly in response to demand shifts.
• Relates directly to total revenue TR = Price * Qtty
Profits = TR - TC
-effects profit directly through price, and indirectly by
effecting the qtty sold, and effects total costs through
its impact on the qtty sold, (ie economies of scale)
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53. • Can use price symbolically, emphasize quality or
bargain (signal value).
• Deflationary pressures, consumers very price
conscious.
Six step process:
1. Establish marketing objectives
o survival (short term)
o profit max.
o revenue max. (yield management pricing;
dynamic pricing)
o growth max. (penetration pricing ... "free")
o market skimming
o product-quality leadership (signaling effect?)
2. Demand schedule: elastic versus inelastic demand
issues (priceline)
Percent change in quantity demanded relative to the
percent change in price.
% change in Qtty demanded
-------------------------
% change in price
We are now looking at the actual impact on demand as
price varies. Elastic demand is more sensitive to price
than inelastic demand.
Elastic demand, greater than1 (-1)
Inelastic demand, less than 1 (-1)
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54. Unitary demand, equal to 1
Always take the absolute values
Inelastic Demand
$|*
| *
| *
| *
| *
|-----------Qtty
$
Elastic Demand
$|*
| *
| *
| *
| *
|-----------Qtty
$
TR = Price * Qtty
If demand is elastic then change in price causes an
opposite change in the total revenue.
If demand is inelastic then change in price causes the
same change in the total revenue.
The less elastic the demand, the more beneficial it is
for the seller to increase price.
3. Cost issues: different levels of product (learning curve
issues), (dis)economies of scale, fixed/variable,
breakeven issues, marginal analysis
Marginal Analysis:
What happens to the costs and revenues as production
increases by one unit. This will determine at which
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55. point profit will be maximized. Need to distinguish
between:
Fixed Costs
Average Fixed Costs, FC/units produced
Variable Costs (materials labor etc.)
Average Variable Cost, VC/Unit produced
Total Cost = (AFC+AVC)*QTTY
Marginal cost = the extra cost to the firm for
producing one more unit.
Marginal revenue = the extra revenue with the sale of
one additional unit.
MR - MC tells us if it is profitable to produce one
more unit.
Profit maximization at MR = MC
To produce/sell more units than the point MR = MC
the additional cost of producing one more unit is
greater than the additional revenue from selling one
more unit. At any point prior to MR = MC, MR will
be greater than MC, therefore the additional revenue
from selling one more unit will be greater than the
additional cost of producing one more unit, therefore
forgoing the opportunity to generate additional profits.
Therefore MR = MC = Profit Maximization; assuming
all products are sold.
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56. Due to the environment, it is difficult to predict costs
and revenues etc.
Cost structures can influence pricing objective: high
low fixed variable make-up has significant impact on
contribution margins.
4. Competitors pricing
5. Pricing method:
o Cost Plus:
Guarantees contribution
simple to calculate
not optimal
o Competition
par with market
price war implications?
not optimal
o Value
optimal
difficult to determine
6. Final price selection: odd / even etc.
Financing issues.
Life-cycle Pricing issues. Especially w/ services, two tier
pricing etc.
Price Segmentation/Discrimination: Varying prices due to
market conditions, different consumers:
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57. • "cost to serve" are different
• value of product are different
• service demands differ
Methods of segmentation/discrimination:
• Price negotiation (second hand car examples, online
auctions)
• Geography
• Price and quantity discounts: seasonal discounts, trade
discounts, trade-ins
• Promotion pricing: loss leader (lock-in etc.), special
event, rebates, low interest financing, warranties
• Discriminatory pricing: customer segment pricing,
product form pricing, time pricing
• Product mix pricing: line pricing, optional feature, two
part pricing, product bundling
• Product bundling: office suite etc.
Price changing issues (reducing or increasing) also relevant
for establishing a price, at above or below market:
• Customer reactions
• Competitor reactions
• Collaborator reactions
Game theory implications of adopting prices in competitive
markets.
Signal value of price changes to competitors and
customers.
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58. Price transparency issues for establishing and changing
prices.
Dealing with competitor price changes.
Discussion Topic: What are the potential long run
consequences of a price promotion designed to attract
competitors customers?
Discussion Topic: Relate examples of products that are
"free" ... and if they are free, what is the objective of the
company?
Discussion Topic: Access E-bay and describe your
experiences as a buyer / seller. What type of products
would work well under a dynamic pricing model? Does the
life cycle stage of a product impact its attractiveness for
dynamic pricing?
Relevant Knowledge @ Wharton Articles
Will Consumers Be Willing to Pay for Their Formerly Free
Lunch on the Internet?
Can Priceline Remain Profitable?
New Internet Pricing Models Bring Pain, and Fortune, to
Retailers
Is the Price Right? Ask Jay Walker
How Store Location and Pricing Structure Affect Shopping
Behavior
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59. Link to discussion board
Return to Syllabus
Marketing Strategy: Key Concepts 8
Channel Selection Issues
Use intermediaries who perform functions more efficiently. Functions include:
• information flow
• promotion
• negotiation
• ordering
• financing
• risk taking
• physical possession
• payment and title
Two key issues to support intermediaries
• Improve exchange efficiency (5 mf. and 5 customers = 25 transactions with no
intermediary; 10 transactions with one intermediary)
• specialize in functions listed above
Types of utility provided by intermediaries:
• Time
• Place
• Possession
• Form
Channel decisions include:
• direct selling versus using 1 or 2 or more intermediaries
Manufacturer -> Consumer
Manufacturer -> Retailer -> Consumer
Manufacturer -> Wholesaler -> Retailer -> Consumer
Manufacturer -> Distributor -> Wholesaler -> Retailer -> Consumer
Examples
• analyze customers' desired service outputs (size, waiting time, spatial
convenience, support etc.)
• channel objectives and constraints (based on product characteristics,
intermediaries, environment and competitors channels)
• buyer behavior (consumer and channel)
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60. • buyer demographics
• identify channel alternatives (exclusive (BMW) vs. selective (clothes lines) vs.
intensive (orange juice))
• competitors' channels
• channel terms and responsibilities
• Channel incentives (trade promotions etc.)
• evaluate channel by economic, adaptive and control criteria
Direct to market =
• Greater fixed cost
• Greater effectiveness / control over contacts
• Greater control over targeting
Indirect to market =
• Greater variable cost
• Less control / responsibility
• Greater coverage
• Knowledge of customer within channel
Issues in selecting channel partners:
• What role do partner play?
• What margin do we give?
• Can / do they carry competing / complementary product, private labels
• How do we incentivize
• Do they pass on price cuts?
• How do we control for cannibalization w/ other channels (direct)?
Lock-in to channel decisions
Channel decisions impact on other elements of the mix
Life cycle issues change channel strategy.
Early stage: Specialized channels
Growth stage: Alternative channels
Maturity stage: Mass channels
Early stage: high control, service and delivered price
Later stage: increasing conflict, range of providers, complexity of channel
Channel member relationships
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61. Impact of trade promotions: distortion effects?
Zero sum Relationship w/ channel members?
Need to build symbiotic relationships with channel members.
Channel modification issues
Trends include vertical, horizontal and multi-channel conflict.
Internet has had significant impact re: building new channels and changing industries
through disintermediation and information flow issues.
Legal and ethical issues:
• Exclusive dealing
• Exclusive territories
• Tying agreements
• Dealers' rights
Retailing
Retailing includes all interactions w/ final customer
• Store retailing (specialty, department stores, supermarkets, convenience,
superstores, discount stores, warehouse stores, hypermarkets and catalog
showrooms)
• Non-store retailing (direct selling, direct mail billing, catalogs, web, vending
machines)
• Retail organizations (corporate chains, voluntary chains / retailer cooperatives,
consumer cooperatives, franchises, independents)
Retail life cycle
Wheel of retailing
Retail market planning:
• target audiences
• product: assortment and service
• product: positioning (Kmart vs. Wal Mart and Target)
• product: services and store atmospherics
• product: symbiotic relationships
• pricing
• promotion
• place
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62. Retailing trends:
• new forms
• shortening life cycles
• non store growth
• intertype competition, polarity, category killers
• one-stop shopping
• global expansion
• stores as meeting places
Wholesaling
Wholesaling includes all interactions w/ intermediaries buying for resale or business use.
Functions include:
• selling and promotion
• buying and assortment-building
• bulk-breaking
• warehousing
• transporting
• financing
• risk bearing
• supplying market information
Wholesalers comprise four groups:
• merchant wholesalers (take possession, full service vs. limited service)
• agents and brokers (do not take possession, paid commission)
• manufacturers' and retailers' branches
• miscellaneous wholesalers (e.g. agricultural, bulk chemicals)
Increasing importance of logistics, and providing a system-wide approach at reducing
costs.
Logistics decisions:
• order processing (shorten order to remittance cycle)
• warehousing
• inventory
• transportation (rail, air, trucks, waterways, and pipelines)
Interesting sites:
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63. • Carmax.com for used cars
• Amazon.com for used books
• Napster and Gnutella for music
Discussion Topic: Impact of channel members creating a market for used product. Is this
good or bad for the market, how does it impact the value of the new product?
Relevant Knowledge @ Wharton Articles
Kmart’s 20-Year Identity Crisis
Taking Stock of Supermarket Retail Performance
Pay-for-Performance Trade Promotions Can Ease Friction Between Manufacturers and
Retailers
Christmas E-tailers: Will It Be Ho-Ho or So-So?
Making the Case for Outside Sales Reps
How Store Location and Pricing Structure Affect Shopping Behavior
Add relevant websites
Link to discussion board
Return to Syllabus
Marketing Strategy: Key Concepts 9
Direct and Online Marketing
An interactive system that creates a measurable response (variable cost versus fixed cost
of marketing) and / or transaction.
Goal to develop relationships with customers.
Rapid growth rate.
• catalog and direct mail sales growing about 7% annually (retail sales @ 3%)
• internet growth rates (Cyberatlas is a great resource for the number)
Growth due to innovations in:
• technology: databases (data mining and warehouses) / communication systems
• toll-free telephone services
• payment systems (credit cards and smart cards)
Provides continuity, better timing, testability and privacy. Can benefit both customers and
business with highly targeted and efficient exchanges.
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64. Database marketing to support direct marketing. Companies can use their databases to:
• identify prospects
• differentiate offers
• cross sell products
• build loyalty
• reactivate customer purchases
Issues with direct marketing include:
1. annoyance
2. deception and fraud
3. privacy
Major direct marketing channels:
• Face-to-Face
• Direct Mail (inc. voice-mail and e-mail, bills, fax)
• Catalog Marketing (inc. CDs)
• Telemarketing (use of computers / cell phones (contextual marketing)
• TV (direct response advertising / infomercials / shopping channels)
• Kiosks (and vending machines)
• Online (permission based marketing)
Online marketing is the most recent evolution of direct marketing. This can create
channel conflict.
E-Commerce Marketing
• Session 1: Introduction
• Session 2: Aspect of WWW as a Medium
• Session 3: Markets and Pricing Models and Digital Economics
• Session 4: Advertising
• Session 5: E-tailing
• Session 6: Integrated Marketing and Communications
Direct Marketing Association
Add relevant websites
Relevant Knowledge @ Wharton Articles
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65. Will Consumers Be Willing to Pay for Their Formerly Free Lunch on the Internet?
The Cell Phone as Marketing Tool: Will Consumers Answer the Call?
Clicking With Customers: New Challenges in Online Conversion
Why Job Searching is the Second Most Popular Activity on the Internet
Are There Lessons to Be Learned from Internet Porn Sites?
New Internet Pricing Models Bring Pain, and Fortune, to Retailers
Three Marketing Lessons from the Love Bug
How Companies Sponsor, Listen in and Learn From Chat Rooms
Is Your Website Working Well for You? Check its e-Performance
How to Keep Customers In Line for Your On-line Business
Hit and Miss: Why High Traffic Streams Need not Lead to More Online Business
Stephen King’s Novel Idea: Will It Change the Publishing Industry?
Christmas E-tailers: Will It Be Ho-Ho or So-So?
A Search for Google’s Success Turns Up Two Words: Trust and Technology
Link to discussion board
Return to Syllabus
Marketing Strategy: Key Concepts 10
got milk?
Definition:
To communicate with individuals, groups or organizations
to directly or indirectly facilitate exchanges by informing
and persuading one or more audiences to accept an
organization's products.
-Companies must communicate with their customers, this
communication should not be left to chance.
Design communication to your specific target audience:
• Target Market
• Part of Target Market
• Different stakeholders of your organization.
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66. Promotion: Fourth element of the marketing mix. Need to
make sure the goals of promotion are integrated with other
Ps.
Need to design a communications strategy, that integrates
the promotion mix:
• advertising: paid form of non personal communication
about an organization or its products that is
transmitted to a target audience through a medium:
US: 1990, $138 b, 2000 $320 b (approx), worldwide,
$780 b. In US, 25% promotional budget
• sales promotion: materials that act as a direct
inducement, offering adding value, or incentive for the
product, to resellers, sales people or consumers: trade
promotions = 47% of promotional budget, consumer
promotions = 28%
• public relations / publicity: news story form about an
organization or its products or both, through a medium
at no charge
• personal selling: personal communication in an
exchange situation
• direct marketing
Increasing importance of Integrated Marketing
Communications ... Why?
The fourth P the critical P?
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67. Communications process consists of:
1. sender
2. encoding
3. message
4. media
5. decoding
6. receiver
7. response
8. feedback
9. noise
Need to identify and understand the target audience, from
the perspective of information processing:
1. selective attention
2. distortion
3. recall
4. contextual issues
Steps of the promotional program:
1. Identify target audience and characteristics, and
perception of product, context etc.
2. Define communications objectives (not aware,
awareness, interest, evaluation, trial, adoption).
Seeking cognitive, affective or behavioral response
3. message:
1. content (rational / emotional / moral)
2. structure (one or two sided)
3. format (headline, copy, sound)
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68. 4. source (trusted / likable / expert)
4. select media (communications channels)
5. establish budget (affordable / % sales / competitive /
objective and task)
Consider:
• push versus pull
• stage of purchase process
• stage of product life cycle
• product complexity and risk
• market position
Advertising
Need to consider the following issues when considering
whether to advertise:
• Does the product possess unique, important features to
focus on Unique Selling Point (USP)
• Are the hidden qualities important to the buyers
• Is the general demand trend for the product adequate
• Is the market potential for the product adequate
• Is the competitive environment favorable
• Is the organization able and willing to spend the
required money to launch an advertising campaign
Issues to consider for advertisers:
• Reach: national, regional, local
• audience: industrial, consumer
• product: product, brand, institution
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69. • objectives: awareness, interest, evaluation, trial,
adoption (inform, persuade or remind)
Decision making for advertising:
1. objectives setting
2. budget decision (stage in product life cycle, market
share, competition and clutter, needed frequency,
product substitutability)
3. message decision
o message generation
o message evaluation and selection ... USP ?
o message execution: structure depending on media
(print: headline, illustrations, sub headline, body
copy, signature)
defined objective, defined product positioning,
build product differentiation, consistent through
campaign, strong integration, appropriate target
market, simple product centered message,
positioning of brand name within message
o social responsibility issues ... a wider context of
evaluation
4. media decision
o reach (# of ppl exposed at least once), frequency
(total number of times reached) and impact
(quality of impact)
o media types (TV (22%), Newspaper (23%),
Direct Mail (20%), Outdoor, Magazines (6%),
Radio (7%), WWW)
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70. o Media Vehicles (programs, WSJ, Yahoo, Vogue):
cpm relevant market etc.
o media timing
o geographic allocation: national versus spot
buying
5. ad effectiveness evaluation
Useful advertising links: adforum, Advertising Age,
tbwa/chiat/day, Fallon, Organic, Mad Dogs and
Englishmen
After reviewing NetRatings, discuss the state of advertising
on the web.
Sales Promotion
Shorter-term tools to stimulate demand (consumer, trade
and orgs. sales force.)
Potential impact on brand and shift demand?
Sales Promotion spend exceeds advertising spend and is
growing faster ... why?
Consumer promotional tools include:
• samples
• Coupons (redemption rates ?)
• rebates
• cash refunds
• product warranties (high risk items)
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71. • premiums (McDonalds)
• prizes
• frequent user programs
• free trials
• point of purchase displays
Discussion Topic: Take a look at Sweepstakesbuilder:
What roles does a service like this provide for web-sites?
Why would web-sites participate?
Trade promotional tools include:
• reduced price
• advertising support
• free goods
• push money
Public Relations
Can build awareness and preference in the marketplace,
repositioning products, and defending them.
Tools include:
• news
• speeches
• events
• public service activities
Proactive versus reactive approach?
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72. Media relations
Dealing with bad publicity?
Sales
Need to determine salesforce:
• objectives; prospecting, communicating, selling,
servicing, information gathering
• strategies: solo, team
• structure: territory (size / shape), product, customer
• size
• compensation: salary, commission, bonus, expenses
Personal selling includes:
1. prospecting and qualifying
2. preapproach: learn about prospect
3. approach: greeting
4. presentation: tell the story
5. overcoming objections
6. closing
7. follow-up and maintenance
Importance of negotiations
Standards versus flexibility
Relationship management versus single transaction
Technologies impact on selling? (Knowledge of customer /
CRM / flexibility)
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73. Relevant Knowledge @ Wharton Articles
Corporate Sponsorships of Stadiums and Other Institutions Don’t Always Pay Off
Do Mixed Emotions and Advertising Mix?
The Cell Phone as Marketing Tool: Will Consumers Answer the Call?
How and When Advertising Works
Technology is Changing the Advertising Business
Pay-for-Performance Trade Promotions Can Ease Friction Between Manufacturers and
Retailers
Link to discussion board
Return to Syllabus
Social Marketing
Social marketing is the planning and implementation of
programs designed to bring about social change using
concepts from commercial marketing.
Among the important marketing concepts are:
• The ultimate objective of marketing is to influence
action;
• Action is undertaken whenever target audiences
believe that the benefits they receive will be greater
than the costs they incur;
• Programs to influence action will be more effective if
they are based on an understanding of the target
audience's own perceptions of the proposed
exchange;
• Target audiences are seldom uniform in their
perceptions and/or likely responses to marketing
efforts and so should be partitioned into segments;
• Marketing efforts must incorporate all of the "4 Ps,"
i.e.:
o Create an enticing "Product" (i.e., the
package of benefits associated with the
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74. desired action);
o Minimize the "Price" the target audience
believes it must pay in the exchange;
o Make the exchange and its opportunities
available in "Places" that reach the audience
and fit its lifestyles;
o Promote the exchange opportunity with
creativity and through channels and tactics
that maximize desired responses;
• Recommended behaviors always have competition
which must be understood and addressed;
• The marketplace is constantly changing and so
program effects must be regularly monitored and
management must be prepared to rapidly alter
strategies and tactics.
These key concepts can be abbreviated as follows:
• Action is the objective
• The target audience is the
focus
• The exchange is critical
• Segment markets
• Use all four Ps
• Analyze and beware of
competition
• Monitor and be flexible
home about us social marketing success stories
conferences related sites working papers
search employment listings register
Key concepts
Key concepts of importance for utilising market information and market research:
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75. CASE CONCEPTS
The article discusses the continued opportunities that exist for no-frills air travel,
allowing examination of market segmentation opportunities and the processes that
may be involved in gathering qualitative and quantitative data on business and
leisure travelers. Further, there is opportunity to discuss the different research
methodologies that could be employed and the arguments for the creation of an
effective marketing information system.
CHAPTER CONCEPTS
Marketing Information System
The system consists of people, technology, and processes to gather, sort, analyse,
and disseminate information in a timely and accurate form for marketing decision
makers. Interestingly the elements identified for a marketing information system
are the same as for any other type of management information system. The
uniqueness of a marketing information system is the focus on marketing orientated
information.
Developing Information
The information required by marketing professionals from a marketing information
system, as described in Figure 8.1 on p.317, emphasizes internal company records,
marketing intelligence, and market research. The information analysis system,
typically driven by specialist computer technology, processes data to produce
meaningful and useful information.
Defining the Market
A market is termed by many as a place where buyers and sellers communicated in
the process of buying and selling goods. Traditionally the place of such exchanges
would be physical in nature but due to developments in technology the location for
many markets is also becoming virtual.
Assessing Current Market Demand
Marketing professionals need to be able to assess three aspects of current market
demand: total market demand; area market demand; and actual sales and market
share. The measurement process is currently driven by on-line marketing database
systems which are developed through dedicated market assessment organisations or
by the actual buyers and sellers within an industry. The gathering and distribution
of information is now becoming more timely and responsive due to computer
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76. networks and buyer/supplier networks in both consumer and business markets.
Forecasting Future Demand
Market estimates are needed in order to judge future sales and market potential in
countries, regions, cities and towns. This enables many organisations to allocate
marketing budgets more cost effectively amongst chosen locations.
Key
conc
epts
Key concepts relevant to learning:
CASE CONCEPTS
The case looks for an application of marketing services to the
entertainment industry, in particular multi-screen cinema theatres. The
specific characteristics of the cinema service are indicated, requiring
the suggestions of alternative marketing strategies for the use of
cinema venues. While the case provides a US perspective on the
problems, there is certainly applicability to the UK and lessons that
can be learnt. It is important for students to be able to draw upon these
distinctions and perhaps suggest strategies for differentiation.
CHAPTER CONCEPTS
Nature and Characteristics of a Service
A service in the context of learning is quite intangible in nature but
with measurable outcomes from the process of service offering. The
learning market requires high levels of differentiation and
responsiveness to changing needs.
Marketing Strategies for a Service Firm
An acceptance and drive towards interactive marketing initiative in
the pursuit of both responsiveness and the ability to adapt. Interactive
marketing offers a shift towards more real time changes in service
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77. marketing.
Managing Differentiation and Change
On-line learning provides an ideal platform for both dynamic and
fluid approaches towards service delivery. The complexity of
cyberspace also provides an infrastructure enabling both quality and
differentiation.
International Services Marketing
The global communications channel of the Internet offers
unprecedented opportunities for service marketing initiatives.
Technology driven service marketing initiative can be easily adapted
virtually real time for market segments and cultural diversity.
Computer Mediated Communications
Marketing services on the Internet needs to accept and harness the
new modes of communications. Hypermedia tools are anticipated to
radically change current marketing service initiatives through the
mode and speed of communications.
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• USA BOOKS
• UK BOOKS
• Fiverr Secrets
• make money on Craigslist
• Niche blogging
• Affiliate Marketing
• a plan for your life
• Criminal Law
• Dentistry 1
• Green Tea
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• Contracts
• Yoga
• Belgium
• Public Contract Law
• Bitcoin
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• Dog Training
• The Weight Loss Solution
• The Quality of Life
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83. • Wood Working
• American Idol
• Facebook Marketing
• Building Self Esteem
• Credit Card Debt
• E-Bay
• Natural Remedies
• Catch A Cheating Lover
• Eliminate Stress Anxiety
• Anger Management
• Self Insight
• History of Flight
• Budget Travel
• India Travel
• Article Marketing
• Public Speaking
• Hawaii Vacation
• Reiki
• a Day Care Center
• Swimming Pool Guide
• Sex Life after 60
• Dream Interpretation
• Cosmetic Surgery
• Autism
• Eat Healthier
• Cat Behavior Training
• Mailing List
• Wellness And Fitness
• Anime and Sci-Fi Collecting
• Espresso
• A Firefighters Character
• Traveling Nurse
• Italy Vacations
• making money with Click bank
• Make Money On YouTube
• Make Money Using Pinterest
• How to Earn Money online using Twitter
• 78 Ways to Make Money
• Modern US History
• Paralegal: Extensive guide
• Parenting Through Divorce
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