Gitman McDaniel 6 Chapter 12 marketing edit 9 oktober 2009

Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved Chapter 12

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Creating Marketing Strategy to Meet Customers’ Needs

Prepared byDeborah BakerTexas Christian University

Prepared byDeborah BakerTexas Christian University

CHAPTER 12

THE FUTURE OF BUSINESS Gitman & McDaniel

6th Edition


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Learning Goals

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What are the marketing concept and relationship building?

How do managers create a marketing strategy?

What is the marketing mix?

How do consumers and organizations make buying decisions?4


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What are the five basic forms of market segmentation?

How is marketing research used in marketing decision making?

What are the trends in understanding the consumer?

Learning Goals

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Marketing The process of discovering the needs and wants of potential buyers and customers and then providing goods and services that meet or exceed their expectations.

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Marketing CreatesRevenue


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Marketing—the “Right” Principle

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Gettingthe right goods or services

Gettingthe right goods or services

tothe right people

tothe right people

atthe right place, time, and price

atthe right place, time, and price

usingthe right promotion techniques

usingthe right promotion techniques


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The Marketing Concept

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Focusing on customer wants so the organization can distinguish its products from competitors’ offerings.

Integrating all of the organization’s activities to satisfy these wants.

Achieving long-term goals for the organization by satisfying customer wants and needs legally and responsibly.


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1. Understanding the external environment

2. Defining the target market

3. Creating a competitive advantage

4. Developing a marketing mix

Creating a Marketing Strategy


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Environmental Scanning

The process in which a firm continually collects and evaluates information about its external environment.

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The ExternalEnvironment


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The External Environment

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Demographic ForcesDemographic Forces

Economic ForcesEconomic Forces

Technological ForcesTechnological Forces

Political & Legal ForcesPolitical & Legal Forces

Competitive ForcesCompetitive Forces

Social ForcesSocial Forces


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Target Market The specific group of consumers toward which a firm directs its marketing efforts.

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The Target Market


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Competitive Advantage

Differential CompetitiveAdvantage

Differential CompetitiveAdvantage

A firm’s ability to provide a unique product or service that offers something of value besides a lower price.

A firm’s ability to provide a unique product or service that offers something of value besides a lower price.

CostCompetitiveAdvantage

CostCompetitiveAdvantage

A firm’s ability to produce a product or service at a lower cost than its competitors.

A firm’s ability to produce a product or service at a lower cost than its competitors.

NicheCompetitiveAdvantage

NicheCompetitiveAdvantage

A firm’s ability to target and effectively serve a single segment of the market within a limited geographic area.

A firm’s ability to target and effectively serve a single segment of the market within a limited geographic area.


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Marketing Mix The blend of product offering, pricing, promotional methods, and distribution system that brings a specific group of consumers superior value.

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The Marketing Mix


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The Marketing Mix

Elements of the

Marketing Mix

“The Four Ps”

Elements of the

Marketing Mix

“The Four Ps”

Product

Price

Promotion

Place


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Product Strategy

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Brand name Packaging Colors Warranty Accessories Service program

Marketing Strategytypically starts

with the product.


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Pricing Strategy

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Demand for product

Cost of producing product


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Distribution Strategy

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Creating the means by which products flow from the producer to the consumer Deciding the number of stores Deciding retailers/wholesalers who will handle

the product


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Promotion Strategy

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Personal selling Advertising Public relations Sales promotion

Copyright ©2008 by South-Western, a division of Thomson Learning. All rights reserved Chapter 12 185

Market Segmentation

VolumeVolume

BenefitBenefit

PsychographicPsychographic

GeographicGeographic

DemographicDemographic

Amount of use (light versus heavy)Amount of use (light versus heavy)

Benefits provided by the good or service Benefits provided by the good or service

Lifestyle, personality, interests, values, attitudesLifestyle, personality, interests, values, attitudes

Regional location, population density, city/county size, climateRegional location, population density, city/county size, climate

Age, education, gender, income, race, social class, household sizeAge, education, gender, income, race, social class, household size


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An Example of Age Segmentation

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Frito-LayProduct Demographic Snack Niche

Frito 33-51 yearsmales

Hunger satisfaction

Doritos Teensmostly males

Bold and daringsnacking

Tostitos Upscale, bornfrom 1946-1964

Casual interaction,social food


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The Marketing Research Process

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3. Collect the data3. Collect the data

2. Choose a method of research2. Choose a method of research

1. Define the marketing problem1. Define the marketing problem

4. Analyze the research data4. Analyze the research data

5. Make recommendations5. Make recommendations


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Choose a Method of Research

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Observationresearch

Observationresearch

An investigator monitors respondents’ actions without interacting directly with respondents.

An investigator monitors respondents’ actions without interacting directly with respondents.

ExperimentExperimentAn investigator changes one or more variables while observing the effects of these changes on another variable.

An investigator changes one or more variables while observing the effects of these changes on another variable.

SurveyresearchSurvey

researchData is gathered fromrespondents to obtain facts, opinions, and attitudes.

Data is gathered fromrespondents to obtain facts, opinions, and attitudes.


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Collect the Data

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Secondary dataSecondary dataInformation that has already been collected for a project other than the current one, but may be used to solve the problem.

Information that has already been collected for a project other than the current one, but may be used to solve the problem.

Primary dataPrimary dataInformation collected directly from the original source to solve a problem.

Information collected directly from the original source to solve a problem.


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Common Types of Survey Research

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Internet surveys

Executive surveys

Mall-intercept surveys

Central-location telephone surveys

Self-administered questionnaires

One-time mail surveys

Mail panels

Gitman McDaniel 6 Chapter 12 marketing edit 9 oktober 2009

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Transcript of Gitman McDaniel 6 Chapter 12 marketing edit 9 oktober 2009