Chap 4 - Marketing Ver 3

8/9/2019 Chap 4 - Marketing Ver 3

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BusinessEssentials

9eEbert/Grifn

MarketingProcessesand

ConsumerBehavior


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Learning outcomes

Ater reading this chater! "ou should be able to# E$lain the concet o marketing in creating!

communicating and delivering value to targetmarketing

%iscuss the comonents o marketing lan and ho&the" are related

%iscuss the three categories o organi'ational /commercial markets(

E$lain market segmentation and ho& it is used intarget marketing(

%escribe the ke" actors that in)uence the consumerbu"ing rocess(

E$lain the concet o branding

%escribe the characteristics o each stages o PLC


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*hat +s Marketing,

What is a

cereal?


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*hat +s Marketing,

Marketing +s an organi'ational unction-management

area.

Manages a set o rocesses or activities or creating! communicating! and delivering valueto

customers and or managing customerrelationshis

E$amles o Processes o Activities

Pricing o goods and services

Branding o goods and services

%istribution o goods and services

+nut

utut

Goods

0ervices

Value

Activit" 1Activit" 2Activit" 3Activit" 4


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Goods and 0ervices

Consumer Goods h"sical roducts urchased b" consumers

or ersonal use

Industrial Goods h"sical roducts urchased b" comanies

to roduce other roducts

Services roducts having nonh"sical eatures! such

as inormation! e$ertise! or an activit" thatcan be urchased

5angible vs 6on tangible


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Marketing 7tilit"

Marketing

Value

Create

Communicate

Deliver

Form TimePlace Possession

Value /

Utility

8alue relative comarison o a roduct:sbene;ts versus its costs 7tilit" abilit"o a roduct to satis"a

human &ant or need


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Marketing 7tilit"

FormTimePlace Possession

Enhancing the marketability of a

product by changing its feature

or design

Eg: boxed detergent can be

produced in liuid form! "hichmay be more advantageous for

certain consumer reuirements


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Marketing 7tilit"

Form Time

PlacePossession

Enhancing a product#s

marketability by determining

"here the product or service is

made available to consumers$

%or example! easy access ofservices at retail establishment!$

&ail order companies make it

easy for customers to shop

"henever they "ant and thenhave their purchases delivered

to them$


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Marketing 7tilit"

Form

TimePlace Possession

Enhancing a product#s

marketability by making it

available at a convenient time$

%or example! a daily ne"spaper

home delivered so that thecustomer has it available

immediately "hen he'she

a"akes for the day$


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Marketing 7tilit"

Form TimePlace

Possession

(he value consumers put on

purchasing a product and

having the freedom to use the

product as it "as intended or

finding a ne" use for theproduct$ %or example! many

people use flo"er pots for

planting! but these pots have

other uses such as storage forsmall ob)ects for as a

centerpiece for the dining room

table$


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0trateg"# 5he MarketingPlan


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0trateg"# 5he MarketingPlan

Marketing Mix

(4Ps)

Marketing plan

Target

Marketing

Market Segmentation

(process)

*eo Demographic

*eographical Demographic +sycho

graphical,ehavioral

ConsumerMarket

Organizational

Market

Bu"ingrocess

+n)uence

Branding


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0trateg"# 5he MarketingPlan rgani'ational Market ? A market related to

organi'ational/commercial bu"ing behavior&hich addressed b" B2B marketing( +n thismarket! businesses bu" either &holesale romother businesses or directl" rom themanuacturer(

Consumer Market ? A market related to behavioro noncommercial consumers and their

urchase o roducts or services(

Marketing Plan detailed strateg"or ocusingmarketing e@orts on consumers: needs and&ants


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0trateg"# 5he MarketingPlan 5arget Market grou o eole &ho have

similar &ants and needsand can be e$ectedto sho& interest in the same roducts

Market 0egmentation rocesso dividing amarket into categories o customer t"es! orsegments

Marketing Mi$ combination o roduct!

ricing! romotion! and lace -distribution.strategies used to market roducts -the 4 Ps.

Branding rocess o using s"mbolstocommunicate the ualities o a roduct made

b" a articular roducer


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Consumer vs rgani'ationalMarket 3 5"es o Business Marketing -B2B.

+ndustrial Markets Businesses that bu" goods to be converted into

other roducts or that are used u during

roduction


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+denti"ing Market0egments Geographic Variales ! segmenting market b"

geograhic units5arget 6ilai vs 6egeri 0embilan vs Mala"sia vs Asia

vs Planet earth

"emographic Variales ! segmenting marketb" characteristics o oulations5arget Age vs +ncome vs 6ationalit" vs


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+denti"ing Market0egments Psychographic Variales ! segmenting market

b" consumer characteristics! such as liest"les!oinions! interests! and attitudesthat ma" bealtered &ith marketing e@ort Burberr" raincoat s"mboli'es British liest"le

taku eole &ith anime and manga interests

#ehavioral Variales ! segmenting market b"behavioral atterns disla"ed b" consumers

&hich in)uence decision rocess o consumtion5arget evidence based consumers vs belie based

consumers vs habitual based consumers


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7nderstanding Consumer Behavior

Consumer #ehavior stud" o thedecision rocessb" &hich eole bu"and consume roducts( Dactors

in)uencing consumer decisionrocess includesI


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7nderstanding Consumer Behavior

1( Ps"chological in)uences# 5hese in)uences caninclude a erson:s values! attitudes! or liest"le(

2( Personal in)uences# 5hese in)uences caninclude ersonal reerences based onersonalit"(

3( 0ocial in)uences# 5hese in)uences can includesocial status! having the latest or greatestversion o an item(

4( Cultural in)uences# 5hese in)uences can

include behaviors or belies seci;c to one:scultural heritage(


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5he Consumer Bu"ingProcess

Marketing Mix (4Ps)

Influences

Tpical !uing process


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0trateg"# 5he Marketing Mi$

Product good! service! or idea that is marketed

to ;ll consumers: needs and &ants

creation o a roduct eatureor roductimage that di@ersenough rom e$istingroducts to attract customers


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0trateg"# 5he Marketing Mi$

Pricing rocess o determining the best riceat &hich

to sell a roduct

Place $"istriution% concerned o distributing or making roducts/

services availableto consumers

0elling cofn at malls > ho& man" cofns

should be allocated and &hen,


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Branding Products

*hat brand gives the imression

o chea! reliable! ast or high


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Branding Products

#randing ! rocess o using s"mbolstocommunicatethe ualities o a roductmade b" a articular roducer

Jels to maintain Brand lo"alt" Provides simle association bet&een s"mbols

and roduct di@erentiation

#rand &'areness ! e$tent to &hich a

brand name comes to mind &hen aconsumer considers a articular roductcategor"


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Product Lie C"cles

"egati#ecas$ flo%

Introduction &ro%t$ Maturit 'ecline

Sales(cost(andcas$flo% Cost of de#elopment and production

Cas$flo%

Sales aggregate

oss

-mart phone

C.( (/

/0-

1D printer

"et re#enue (profit)


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Product Lie C"cle

-pecialcase

-pecialcase


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Product Lie C"cles

Product lie c"cle are series o hases&hich a roduct t"e goes thru in time

Length o each hases variesand usuall"

deends on advancement o technolog" Each hase is characteri'edb" the

aggregate sales-number o units sold.

costo develoment and roduction cash )o& generated b" the roduct t"e

+ad belongs to &hich hase ,


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Product Lie C"cles

*hich hase does each belongs to,


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%e;nitions

1( rgani'ational market

2( Consumer market

3( Marketing lan

4( Marketing mi$

( Market segmentation

K( 5arget market( Branding

F( Product lie c"cle


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0tud" uestions

%escribe the role o Marketing asdiscussed in class

Provide an e$amle to illustratediscrimination bet&een 0ervices andGoods

Provide a uni;ed scenario to

illustrates the stages o consumers:bu"ing rocess

+denti" a roduct or service or each

stage o PLC


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0tud" uestions

E$lain the concet o value and bene;t &ithresect to Marketing 7tilit"

%escribe the 4 Marketing 7tilit" &hich cancreate! communicate and deliver value to targetconsumers

E$lain the di@erences bet&een ConsumerMarket and rgani'ational Market as discussedin class

Provide scenarios to illustrate the variablesalied in the rocess o Market 0egmentation

%e;ne Consumer Behavior as discussed in class


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0tud" uestions

%escribe the 4 actors &hich in)uenceconsumer urchasing decision rocess

Proose a marketing mi$! given that

the roduct is college educationservices and high school students arethe target marketing

%iscuss the unction o branding or aeducation services rovider( Eg# +nti7niversit"

Chap 4 - Marketing Ver 3

Documents

Transcript of Chap 4 - Marketing Ver 3