2 Intro to Marketing Strategy 810 NO.1
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Transcript of 2 Intro to Marketing Strategy 810 NO.1
8/8/2019 2 Intro to Marketing Strategy 810 NO.1
http://slidepdf.com/reader/full/2-intro-to-marketing-strategy-810-no1 1/4
Intro to Fashion Marketing Intro to Fashion Marketing
world of marketing is just as dynamic as the world of fashion
Intro to Fashion Marketing
world of marketing is just as Creative as the world of fashion
Fashion marketing
At the core, the profession is aboutconnecting with the image--the lifestyle--theconsumer wants.
fashion marketing is a interesting and funprofession.
It integrates the artistic nature of fashion withthe creative aspects of business--making fora highly rewarding career to the ambitiousand innovative.
The process throughwhich
VALUE
is exchanged
Marketing is…
8/8/2019 2 Intro to Marketing Strategy 810 NO.1
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The official definition
Marketing is an organizational function
anda set of processes
for creating, communicating, and deliveringvalue to customers
andfor managing customer relationships
in ways that benefitthe organization and its stakeholders
American Marketing Association Definition
1. Monetary costsAcquisition Cost
Usage CostMaintenance CostDisposal Cost
2. Time costsAcquisition
Usage CostMaintenance CostDisposal Cost
3. Energy Cost
1. Product benefits•Performance
•Durability
•Reliability
•Ease of use
2. Service benefits
•On time delivery
•Responsiveness to problems
•Technical support quality•Availability of support
3. Image benefits
Psychological needsPersonality enhancement
reinforcement
Value CreationPerceived Benefits Perceived Costs
Total customerbenefit
Total customercost
Total CustomerVALUE
The Marketing Nutshell
Design
Analysis
Decision
CompanyCompetitorCustomer
Segmentation Targeting Positioning
Product, Price, Place, Promotion
“Integrated Marketing”
Marketing Strategies
consist of
selecting a target market
and
developing a marketing mix
to
satisfy that market’s needs.
Successful Marketing
Identify market opportunities
and respond by
developing and executing
marketing strategies to
take advantage of the opportunities
better than the competitors.
8/8/2019 2 Intro to Marketing Strategy 810 NO.1
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The Marketing MixFour marketing activities
Product
Place
Promotion
Pricing
TargetMarket
Analyze
Decide
Implement
Marketing Process
Conduct A Marketing Review
(3-C Analysis)
Opportunity Identification
Assessment ofCOMPANY
Capabilities andCurrent Marketing
Position
Analysis ofCUSTOMER
Trends, NeedsPerceptions,
Behavior
Analysis ofCOMPETITORSCurrent Position,
Capabilities,Actions
A market orientation
consists of creating norms and valuesthat encourage customer-oriented
behavior throughout the organization,
including:
GeneratingMarket
Intelligence
DisseminatingMarket
Intelligence
Responding toMarket
Intelligence
The Marketing Concept
The idea that the
social and economic justification
for an organization’s existence
is the satisfaction of
customer wants and needs
while
meeting organizational objectives.
The Marketing Concept
Consumer-Oriented
Long-runProfitability
Cross-Functional
Effort
MarketingConcept
8/8/2019 2 Intro to Marketing Strategy 810 NO.1
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Strategic Marketing ?Is Integrated approach to Marketing
Marketing is an activity engaged in pursuing
value innovation by looking systematicallyacross all elements of a business model.
MarketingCustomer
Marketing
Customerneeds &wants
R&D Procurement P roduction Distribution Sells
Customervalue
A Need
Needs - state offelt deprivationincludingphysical, social,and individualneeds.
A Want
Wants - form that ahuman need takes,
as shaped by culture
and individualpersonality.
This Is Demand
Demand
Wants Buying Power
+ =
Customer manifesto
– Do not offer me things
– Do not offer me clothes, offer me attractive looks
– Do not offer me shoes, Offer me comfort for my feetand the pleasure of walking
– Do not offer me a house, offer me security, comfort,and a place that is clean and happy
– Do not offer me books, Offer me hours of pleasureand the benefit of knowledge
– Do not offer me things, Offer me ideas, emotions,ambience, feelings, benefits and experience
– Please, do not offer me things
Argument
andDiscussion
Throws Heat
Throws light
Stems from Ego and closed mind
Open mind
Exchange of Ignorance
Exchange of Knowledge
Expression of temper
Expression of Logic
Tries to prove who is right
Tries to prove What is Right