7-1 McGraw-Hill/Irwin© 2006 The McGraw-Hill Companies, Inc. All rights reserved.

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7-1 McGraw-Hill/Irwin © 2006 The McGraw-Hill Companies, Inc. All rights reserved

Transcript of 7-1 McGraw-Hill/Irwin© 2006 The McGraw-Hill Companies, Inc. All rights reserved.

Page 1: 7-1 McGraw-Hill/Irwin© 2006 The McGraw-Hill Companies, Inc. All rights reserved.

7-1McGraw-Hill/Irwin © 2006 The McGraw-Hill Companies, Inc. All rights reserved.

Page 2: 7-1 McGraw-Hill/Irwin© 2006 The McGraw-Hill Companies, Inc. All rights reserved.

7-2

DevelopingMarket Strategies

Marketing ConceptMarketing Concept Market ResearchMarket Research Marketing StrategyMarketing Strategy Product Life CycleProduct Life Cycle Packaging And PricingPackaging And Pricing Services Vs. GoodsServices Vs. Goods

Ch

apte

r

7

USDA/ARS, Photo by Scott Bauer

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7-3McGraw-Hill/Irwin © 2006 The McGraw-Hill Companies, Inc. All rights reserved.McGraw-Hill/Irwin © 2006 The McGraw-Hill Companies, Inc. All rights reserved.

Superior MarketingSuperior MarketingMoves QuicklyMoves QuicklyPricing DifferentialPricing DifferentialAttention to PackagingAttention to PackagingBuild Customer LoyaltyBuild Customer LoyaltySamples/DemonstrationsSamples/DemonstrationsEducate CustomersEducate Customers

Ryan McVay/Getty Images

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7-4McGraw-Hill/Irwin © 2006 The McGraw-Hill Companies, Inc. All rights reserved.

Marketing ConceptMarketing Concept

“…“…Giving Special Giving Special Consideration To The Consideration To The Needs, Desires, And Needs, Desires, And

Wishes Of Present And Wishes Of Present And Prospective Customers.”Prospective Customers.”

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7-5McGraw-Hill/Irwin © 2006 The McGraw-Hill Companies, Inc. All rights reserved.

Elements Of Marketing ConceptElements Of Marketing Concept

1)1) Customer Customer OrientationOrientation

2)2) Goal OrientationGoal Orientation

3)3) Systems ApproachSystems ApproachJack Star/PhotoLink/Getty Images

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Application Of Marketing ConceptApplication Of Marketing Concept

Conscious Of ImageConscious Of ImageProduct BenefitsProduct BenefitsCompany “Fit”Company “Fit”Offer ResearchOffer ResearchUnique ExpertiseUnique ExpertiseNot PushyNot PushySpeak With IntegritySpeak With Integrity

Practice ConsumerismPractice ConsumerismAware Of Danger SignalsAware Of Danger Signals

C. Borland/PhotoLink/Getty Images

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E-CommerceE-Commerce

“…“…Technology-Mediated Technology-Mediated Exchanges Between Parties As Exchanges Between Parties As

Well As The Electronically Well As The Electronically Based Intra- Or Based Intra- Or

Interorganizational Activities Interorganizational Activities That Facilitate Such That Facilitate Such

Exchanges.”Exchanges.”

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Marketing Research AreasMarketing Research Areas

Identify CustomersIdentify Customers

Determine NeedsDetermine Needs

Evaluate Sales PotentialEvaluate Sales Potential

Select Appropriate Select Appropriate Channel Of DistributionChannel Of Distribution

Evaluate Advertising & Evaluate Advertising & PromotionPromotion

PhotoLink/Getty Images

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7-9McGraw-Hill/Irwin © 2006 The McGraw-Hill Companies, Inc. All rights reserved.

Steps In Marketing ResearchSteps In Marketing Research

Define ProblemDefine Problem

Gather/Evaluate Gather/Evaluate InformationInformation

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Sources Of InformationSources Of InformationExisting InformationExisting Information

Primary ResearchPrimary Research

Specialized TechniquesSpecialized Techniques

WebWeb

Computerized DatabasesComputerized Databases

Keith Brofsky/Getty Images

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Marketing ResearchMarketing ResearchOn The InternetOn The Internet

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Checkout AutomationCheckout Automation

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Marketing StrategyMarketing StrategySet ObjectivesSet ObjectivesChoose Target Choose Target MarketMarketMarket SegmentationMarket SegmentationShifting Target MarketsShifting Target MarketsRegional Purchasing Regional Purchasing DifferencesDifferences

Jason Reed/Getty Images

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Shifting Markets-Shifting Markets-Population/HouseholdPopulation/Household

0

0.5

1

1.5

2

2.5

3

3.5

4

1940 1950 1960 1970 1980 1990 2000

Population PerHousehold

Population PerFamily

Source: U.S. Census Bureau

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Shifting Markets-Shifting Markets-Older ConsumersOlder Consumers

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Shifting Markets-Shifting Markets-Senior SpendersSenior Spenders

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Marketing Mix (4 Ps)Marketing Mix (4 Ps)

PProductroduct

PPlacelace

PPromotionromotion

PPricerice

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Product Life CycleProduct Life Cycle

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PackagingPackagingProductProduct

PromotesPromotes

ProtectsProtects

IdentificationIdentification

Improves Product ConvenienceImproves Product Convenience

Promotes Brand RecognitionPromotes Brand Recognition

Influences Buying Decision Influences Buying Decision

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Pricing (4 Cs)Pricing (4 Cs)CCustomerustomer

CCompanyompany

CCompetitionompetition

CConstraintsonstraints

Rob Melnychuk/Getty Images

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Influences OnInfluences OnPricing PoliciesPricing Policies

Stage Of Product Stage Of Product Life CycleLife Cycle

CompetitionCompetition

Cost-OrientedCost-Oriented

FlexibilityFlexibility

Suggested Retail Suggested Retail PricePrice

List PriceList Price

Prestige PricingPrestige PricingLeader PricingLeader PricingBait PricingBait PricingOdd PricingOdd PricingPsychological Psychological

PricingPricingPrice LiningPrice LiningDemand-Oriented Demand-Oriented

PricingPricing

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MarkupMarkup

Markup As Markup As Percentage Percentage

Of CostOf Cost==

$ Amount Of Markup$ Amount Of Markup

Cost Of The ItemCost Of The Item

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Discounts And AllowancesDiscounts And Allowances

%Discount- Reduction Discount- Reduction On List Price As On List Price As Incentive To BuyIncentive To Buy

%Allowance- Given When Allowance- Given When Accepting Quality/Quantity Accepting Quality/Quantity ReductionReduction

Artvilee/Getty Images

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Types Of Discounts/AllowancesTypes Of Discounts/Allowances

CashCashFunctional/TradeFunctional/TradeQuantityQuantityPromotionalPromotionalTrade-InsTrade-InsPush/Prize MoneyPush/Prize Money

Joshua Ets-Hokin/Getty Images

BUY ONEBUY ONE

GET ONEGET ONE

FREEFREE

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Small Business Price SettingSmall Business Price Setting

$Service FirmsService Firms$RetailersRetailers

¢Customary PriceCustomary Price¢Unit PriceUnit Price¢Loss LeaderLoss Leader

$WholesalersWholesalers$ProducersProducers$Building Contractors- Cost-PlusBuilding Contractors- Cost-Plus

PhotoLink/Getty ImagesPhotoLink/Getty Images

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Marketing ServicesMarketing Services

Nature Of ServiceNature Of ServicePersonalPersonal

BusinessBusiness

Differentiating Differentiating ServicesServices

Adam Crowley/Getty Images

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Marketing Service StrategyMarketing Service Strategy

Level Of Customer ContactLevel Of Customer ContactPrimacyPrimacyPricingPricing

QualityQuality Degree Of Expertise/SpecialtyDegree Of Expertise/Specialty Value To BuyerValue To Buyer

PromotionPromotion

Rob Melnychuk/Getty Images

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Strategy Implementation- Strategy Implementation- Introductory StageIntroductory Stage

Analyze SituationAnalyze Situation

PresentPresent

FutureFuture

Fit Product To MarketFit Product To Market

Evaluate ResourcesEvaluate Resources

Ryan McVay/Getty ImagesRyan McVay/Getty Images

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New Classes Of CustomersNew Classes Of CustomersPenetration Of Penetration Of Existing MarketExisting Market

Maintain Market Share Maintain Market Share By Design & Manufacturing By Design & Manufacturing InnovationInnovation

Strategy Implementation- Strategy Implementation- Growth StageGrowth Stage

C. Borland/PhotoLink/Getty Images


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