marketing 500 - PowerPoint PPT Presentation

1 / 111
About This Presentation
Title:

marketing 500

Description:

organize business units. groups, needs, technology. unique, competitor/profit variables ... organize the department. functional, geographic, product. market, ... – PowerPoint PPT presentation

Number of Views:125
Avg rating:3.0/5.0
Slides: 112
Provided by: Owne830
Category:

less

Transcript and Presenter's Notes

Title: marketing 500


1
marketing 500
  • cherian(a)uic.edu
  • 2224 UH, 312-996-4480

2
a framework for mktg mgmt
3
topics for midterm exam
situation strategy specifics
success
4
C1 defining marketing
  • A. marketing today
  • industrial age vs information age cards ches
    s
  • make a market, take a market (blue-ocean)
    (red-ocean)

5
1 the new economy
  • the digital revolution
  • consumers
  • companies
  • information age vs industrial age
  • recognize potential quickly
  • marketing meeting needs profitably

6
2. marketing tasks
  • radical marketing
  • scope of marketing
  • decisions marketers make
  • marketing concepts and tasks
  • defining marketingA social and managerial
    process by which individuals and groups obtain
    what they need and want through creating,
    offering, and exchanging products of value with
    others

7
2. marketing tasks
  • D (2) core marketing concepts
  • target markets, segmentation
  • marketplace, marketspace, metamarket
  • marketers, prospects
  • needs, wants, demands
  • product, offering
  • value, satisfaction
  • exchange, transaction

8
2. marketing tasks
  • D(2) core marketing concepts
  • relationships and networks
  • channels
  • supply chain
  • competition brand, industry, form, generic
  • marketing environment
  • marketing program

9
3. company orientations
  • production concept
  • product concept
  • marketing concept
  • integrated marketing
  • profitability
  • internal marketing
  • customer concept
  • societal marketing concept

10
4. how businesseschanging
  • major forces more wants, more brands, stores
    hurt
  • company responses reengineering, outsourcing,
    ecommerce, benchmarking, alliances
  • marketer responses relationship mktg, lifetime
    value, cust-share, target-mktg, individualized,
    databases, integrated mktg, channel
    partnerships, everyone is marketer, fact-based
    decision

11
C2adapting marketing
  • optimizing effort
  • response curves
  • equate marginal returns for all efforts

RESPONSE
saturation
Marginal Response
1
threshold
EFFORT
12
5. inthe new economy
  • hybrid economy
  • different activitiessubcontract, keep core,
    benchmark, partner, multi-functional, new
    advantages, intangibles, information, consumer
    groups vs products
  • old vs new economyrelationships, information

13
6. major drivers of the n.eco
  • A. tech.y, globalization, deregulation
  • B. specific drivers
  • digitalization and connectivity
  • disintermediation and reintermediation
  • customization and customerization
  • industry convergence
  • industry boundaries are blurring rapidly
  • there are several examples of this
  • new opportunities at the intersection

14
7. business practices change
  • old economy business beliefs
  • new economy business beliefs
  • the new hybrid

15
7. business practices change
16
8. marketingchange
  • e-business, e-commerce, e-purchasing,
    e-marketing
  • b2b, b2c, c2c, c2b, search engines
  • why did dot-coms fail?

17
9. setting up websites
  • move to emarketing, epurchasing
  • design an attractive site context, content,
    community, customization, communication,
    connection, commerce
  • build a revenue, profit model advertising,
    sponsorship, alliance, membership, profile,
    sales, transactions, research/info, referral

18
10. CRM
  • A. CRM database marketing
  • realtime service
  • customize
  • reduce defections
  • inc. longevity
  • inc. share of wallet
  • improve/terminate low-profit customers
  • focus on high value customers

19
10. CRM
20
10. CRM
  • B. data warehouses data mining
  • capture information at all touchpoints
  • use the database
  • downsidehigh investment, not everyone usesnot
    everyone want relationships
  • privacy/security concerns

21
C3value, satisfaction,
  • there can be no satisfaction!
  • affect? behavior? cognition?
  • just use loyalty? referral?
  • value maps
  • perceived performance price
  • fair value line

22
C3value, satisfaction,
performance
FAIR VALUE LINE
price
23
11. define value, satisfaction
  • perceived valueperceived performance, cost
  • customer satisfactionexpectation, value
    proposition, experience

24
12. high performance
  • stakeholders
  • processes
  • resources
  • culture
  • profits
  • patrons
  • process(resources
  • people
  • balanced scorecard

25
13. delivering value
  • value chain
  • value delivery network (supply chain)

26
14. attract/retain customers
  • attract customers
  • cost of lost customers
  • retain customers
  • use CRM, build equity 4. value, brand,
    relationship equity 3. basicgtreactivegtaccountable
    gt proactivegt
    partnership
  • strengthen bonds financial, social, structural

27
16. implement TQM
15. customer profitability
  • measure which customers are profitable?
  • quality is key
  • mktg has a bigger role id.needs, communicate,
    logistics, cust.education, in touch, ideas

28
C4 strategic planning
  • SWOT Analysis

S110, W80, O120, T70 SO110120132,
ST77, WO88, WT56
29
C4 strategic planning
B. Strategy and Causality
population
treatment
random sample

not
  • if behaviors are unequal, cause is treatment,
    when control group and treatment group are
    exactly alike
  • how can you build strategy if you dont know
    causes?

30
17. 3 key areas, 4 levels
  • key areas business as investments assessment
    of growth, competn strategy for each business
    (unit)
  • organizational levels corporate, division,
    unit, product
  • marketing plan situation, strategy, specifix,
    success

31
18. corporate/division plans
  • mission us? them? value? will, should be?
  • organize business units groups, needs,
    technology unique, competitor/profit variables
  • BCG ??, , , xx
  • GE model
  • intensive, integrative, diversificatn growth

32
18C,D corp./div. plans
stars
???
growingmarket stagnantmarket
cow
dogs
bcg ge
hi-share lo-share
marketattractiveness
business strength
33
18E. corp./div. plans
  • integrative growth
  • backward, horizontal, forward
  • intensive growth
  • market penetration, market development,product
    development
  • diversification growth
  • concentric, horizontal, conglomerate

34
19. business strgic planning
  • mission
  • SWOT - internal, external environments
  • goals - priorities, specific, realistic, good
  • strategy
  • low cost, differentiate, focus
  • is operational effectiveness sufficient?
  • strategic marketing alliances
  • program formulation implementation
  • feedback/control
  • change happens, effectiveness vs. efficiency

35
20. the marketing process
  • The Value-Delivery Sequence
  • Steps in the Marketing Process
  • Product Planning The Contents of a
    Marketing Plan
  • Executive Summary and Table of Contents
  • Current Marketing Situation 4C
  • Opportunity Issue Analysis SWOTIssues
  • Objectives (Financial, Marketing)
  • Marketing Strategy STP
  • Action Programs 4P
  • Financial Projections
  • Controls

36
21. managing the process
  • organize the department functional, geographic,
    product market, product-market,
    corporate-divisional, global
  • build a marketing orientation
  • creativity
  • implementation
  • evaluation/control annual, profit, efficiency,
    strategic

37
C5 markets, demand, envt
  • reliabilityconsistency
  • measure many times
  • multiple-item scales
  • statistical analysese.g., correlationamong items
  • validity
  • accuracy, correctness
  • check for validity
  • face/content validity does it look right?
  • concurrent validity does it relate to what it
    should relate to?
  • discriminant validity does it tell different
    groups apart?
  • predictive validity what is its track record?

valid
reliable
38
22. what to watch?
  • wants, preferences, behaviors
  • shifts, non-price competition, tech
  • info needs changing

39
23. information, intelligence
  • more info more better (MIS)
  • input info insight integrate
  • internal records
  • mktg intelligence
  • mktg research systematic, suppliers,
    steps define, design, gather data, analyze,
    present use
  • mktg decision support systems

40
24. forecast demand
  • which market? potential, available, served,
    penetrated
  • demand measurement demand, minimum potential
  • company demand
  • estimate current demand
  • estimate future demand macro, micro, methods

41
25. macro environment
  • trend spotting
  • demographics
  • economy
  • natural
  • technological
  • political/legal
  • social cultural
  • shifts of secondary values

42
C6 analyze consumers
  • are you a computer?
  • Rb is not the same as Ra Rb reasons before
    Ra reasons after
  • everyone escalates
  • reactance, consistencyclosure, framing
  • unanticipated discoveries, hunger?

purchase
time
43
26. how/why you buy
  • cultural factors cultures, sub-cultures,
    social class
  • social factors
  • reference groups membership, opinion
    leader, family of origin and procreation,
    roles/status
  • personal factors
  • age, lifecycle, family lifecycle,
  • occupation and economic situation
  • lifestyle, psychographics (VALS)
  • personality, brand personality, self-concept
  • sincerity, excitement, competence,
    sophistication, ruggedness

44
26. how/why you buy
  • psychological factors
  • motivation
  • Freud sex sells ?!, laddering
  • Maslow hierarchy of needs actualization,
    belonging, competence
  • Herzberg satisfiers (become) dis-satisfiers
  • perception
  • selective attention, selective distortion,
    selective retention
  • learning
  • beliefs and attitudes

45
27. buying decision process
  • buying roles (initiate, influence
  • buying behaviors involve, diffs complex,
    dissonance, hh, hl variety seeking,
    habitual lh, ll
  • stages problem recognition search
    DMM evaluation purchase post-purchase
  • gauging customer satisfaction measure, reduce
    complaints

46
DMM decision-making-matrix
pages 206-207
47
C7 analyze customers
  • is business entertainment ethical?
  • international business decisions?become same?
    more different?

48
28. organizational buying
  • consumers v customers fewer, bigger,
    professional buyers inelastic, fluctuating,
    derived demand
  • specialized markets institutional, government
  • business buying situations straight rebuynew
    task systems buying selling

49
29. participants in b.buying
  • buying center initiators, users
  • major influence envt, orgzn, interpersonal,
    indiv.
  • cultural influence, different
    customs become same? more different?

50
30. purchasing process
  • problem recognition
  • need description, specifications
  • supplier search
  • proposal solicitation
  • supplier selection
  • order routine specification
  • performance review

51
C8 dealing with competition
  • what do you choose first brand or form?
  • brand share vs. form share?

52
C8 dealing with competition
form-first vs brand-first
insurance
insurance
Allstate? Allstate?
web?1-800?
53
31. competitive markets
  • market attractiveness (5forces
  • identify competitors brand, industry, form,
    generic
  • industry concept of competition sellers/buyers,
    entry-exit barrier, cost structure, vertical
    integration, globalization
  • market concept of competition same need
    satisfied? substitutes?

54
32. competitor analysis
  • strategies
  • objectives
  • strengths, weaknesses dominantweak,
    nonviable share of mind heart ? market
  • reaction patterns

55
33. competitive intelligence
  • design the system setup, collect, evaluate,
    disseminate
  • select competitors to attack/avoid customer
    value analysis classes strongweak,
    closedistant goodbad

56
34. design comp. strategies
  • market leaders expand market, defend, share
  • market challenger objectives opponents,
    attack
  • market follower imitation clone, adapt
  • market nicher specialize, margin not volume
  • be customercompetitor focused

57
topics for final exam
situation strategy specifics
success
58
C9 identifying segments
  • why segment?
  • increase effectiveness and efficiency
  • segments must be
  • homogeneous within
  • heterogeneous across
  • too many mixes means too much cost
  • too few mixes means too much dissatisfaction

efficient effective
buyers
inefficient
non-buyers
ineffective
59
35. buyers differ
  • Segment marketing
  • Niche marketing
  • Local marketing
  • Individual marketing
  • Segmentation patterns
  • Process survey, analyze, profile
  • Effective Segmentation measurable, substantial,
    accessible, differentiable, actionable

60
36. segmenting markets
  • consumer markets
  • geographic
  • demographic
  • psychographic
  • behavioral
  • occasions, benefits, user-statususage rate,
    loyalty, readiness,attitude
  • multiattribute geoclustering

61
36. segmenting markets
  • B. business markets
  • stage in purchase decisionchannel preference
  • type of buyerprogrammed, relationship,transactio
    n, bargain hunters
  • buyer groupstransactional, consultative,enterpri
    se

62
37. targeting strategies
  • evaluate/select segments
  • single segment
  • selective specialization
  • product specialization
  • market specialization
  • full market coverage
  • targeting multiple segments
  • ethical choice of market targets

63
C10 developingproducts
  • humanize product design
  • implicit models
  • feedback
  • expert / novice modes
  • smarter interfaces
  • smarter products

64
38. challenges in NPD
  • types of new productsnew new, new product lines,
    additions,revisions, re-positionings,
    reductions
  • why they fail or succeed90 fail,
    -overestimates, -design,-incorrect positioning,
    -costs, -competnknow consumers, value, head
    start,contribution margin, budget, teamwork,
    top-mgmt support

65
39. managing new products
  • idea generation
  • idea screening
  • concept development, testing
  • strategy development mix, long run sales
    profit goals
  • business analysis estimate sales, costs,
    profits

66
40. managing new products
  • product development
  • market testing consumer goods sales-wave,
    simulated store, controlled, test markets
    business goods alpha, beta, trade-shows
  • Commercialization when, where, to whom, how

67
40. managing new products
  • Why does prolonging the fuzzy front end reduce
    the length of the new product development?

FFE1-5
BE6-8
NPD
68
41. adoption process
  • stages in adoptionawareness, interest,
    evaluation, trialadoption
  • factors affecting itreadiness, personal
    influence,innovation characteristics,
    organizational buying readiness

69
42. product life cycle
  • plc intro, growth, maturity, decline
  • introductionrapid/slow skimming/penetrationpione
    ering advantage (questionablecompetitive cycle
    solecommoditydie
  • growth place-to serve demand
  • maturitychange mkt, product, mix
  • decline inc/dec inv., harvest, divest, drop?

70
42F. critique
  • poor for forecasting
  • okay for planning control
  • what stage are you in?
  • dependent on managers? or
  • independent of managers?
  • rapid cycles today, manage across

71
43. positioning/differentiation
  • two views consumer mind, value disciplines
  • how many ideas to promote?
  • communicate the positioning
  • add further differentiation
  • differentiation toolsproduct, service,
    personnel, channel,image

72
C11. product/brand strategy
  • private labeling
  • extending your brand name
  • consistent category, quality, consumer

retailer
manufacturer
consumer
73
44. product, product mix
  • product levelscore, basic, expected, augmented,
    potential
  • product classificationsdurability nondurable,
    durableconsumer convenience,
    specialtybusiness materials, capital items
  • product mixlength, depth, consistency

74
44c. product mix
linelength
item
75
45. product line decisions
  • product line analysissales/profits market
    profile
  • product line length down/up-market, 2way,
    filling (jnd
  • line modernizationupdating, featuring, pruning

jnd1
76
46. branding
  • what is a brand?attributes, benefits, value,
    culture, personality, user
  • brand equityswitchergtsatisfiedgtswitching-costsgt
    friendgt devoted
  • branding challenges2b/x2b? sponsor, name,
    extensions, multibrands, audit reposition

77
47. packaging and labeling
  • packaginglevels of materialpromo
    value selfserviceimageinnovation
  • labeling legal concerns
  • how can packaging affect all 4Ps?

78
C12 services
  • can services be off-shored?

79
48. nature of services
  • categories of services
  • characteristics
  • intangible
  • inseparable
  • variable (inconsistent)
  • perishable (impossible to inventory)

goods
services
80
48bservices
  • Intangible
  • Inseparable
  • Inconsistent
  • Inventoryless

tangibilize differentiatemanage point of
contact moment of truth hire, train,
motivate, standardizechange supply-sidechange
demand-side
81
49. service strategies
  • managing differentiation
  • service quality
  • provide better quality
  • eliminate gaps (SERVQUAL
  • RATER reliability, assurance, tangibles,
    empathy, responsiveness
  • excellencecustomer obsessed, commitment,
    self-service, monitoring, manage complaints,
    employees satisfaction
  • productivity

82
49. SERVQUAL
Personal needs
Word-of-mouth communications
Past experience
consumer
Expected service
Gap 5
Perceived service
Service delivery (including pre- and
post-contacts)
External communi- cations to consumers
Gap 1
Gap 4
producer
Gap 3
Translation of perceptions to service-quality
specifications
Gap 2
Management perceptions of consumer expectations
83
50. product support services
  • presale
  • post-sale
  • trendsmore reliability, unbundling, 3rd party,
    contracts, more choices, quality of call centers,
    better trained service representatives

84
C13. pricing
  • behavioral pricingbuy now pay more laterpay
    now, use less later?is a dollar a dollar?why
    pay more with credit cards?
  • legal issueno price discrimination,no
    horizontal/vertical price fixingno
    bait-and-switch
  • break-even

85
C13. break even quantity
TR
/units
TC
VC
FC
units
10K 20K 30K 40K 50K 60K 70K 80K

pages 482
86
C12. break even quantity (contd)
TR
/units
TC
FC
units
10K 20K 30K 40K 50K 60K 70K 80K

87
51. setting the price
  • select the objective survival, profit, share,
    skim, other
  • determine the demand sensitivity, demand,
    elasticity
  • estimate costs
  • analyze competitors
  • select pricing method markup, target return,
    perceived value, value, going rate, auction,
    group
  • select final price

88
51F. selecting final price
  • psychological pricingprice-quality, reference
    price, odd-even
  • gain and risk sharing
  • marketing mix influence
  • pricing policies
  • price impact on other parties

89
52. adapting the price
  • geographical pricing
  • price discounts
  • promotional pricing
  • discriminatory pricingsegment, form, image,
    channel, time
  • product mix pricingproduct line, optional
    feature, captive-product, two-part, byproduct,
    bundling

90
53. initiating/responding
  • initiating cutsexcess capacity, dominate market
  • initiating increasescost inflation,
    anticipatory, over-demand
  • reactions to price change
  • respond to competitors changes

91
53E. strategic options
  • price, quality, cut customers
  • price, quality
  • price, quality
  • price, quality
  • - -price, quality
  • - -price, -quality
  • price, -quality
  • new low price model

92
C14. channels
  • push versus pull
  • you can eliminate a channel member but not the
    function

pull
producer
customer(retailer)
consumer
push
push
93
54. marketing channel system
  • value network
  • upstream vs downstream emphasis
  • awareness of where problems occur
  • online development with partners
  • marketing channels
  • interdependent organizations
  • distributes goods and/or services
  • hybrid channels today online, direct, indirect
  • consumers want channel integration

94
55. what workchannels do
  • smooth flow of goods/services, save money
    time through specialization
  • channel functions
  • channel levels
  • service sector channels
  • i-waybandwidth, extranets, intranets

95
56. channel design
  • customers desired service outputlot size, wait,
    space, variety, service
  • objectives constraints
  • identify alternatives type, exclusive,
    selective, intensive
  • evaluate alternatives

96
57. channel management
  • selecting members
  • training them
  • motivating thempartnerships, long-term
    programming
  • evaluating them
  • modifying arrangements

97
58. channel dynamics
  • vertical marketing systems
  • corporate and administered
  • contractual (franchises, etc
  • systems compete, not companies
  • horizontal marketing systems
  • multichannel marketing systems

98
58. channel dynamics
  • conflict, cooperation, competition
  • types of conflictvertical, horizontal,
    multichannel
  • causesgoal incompatibility, unclear
    roles/rights, differences in perception,
    overdependence
  • managing conflictsuperordinate goals, exchange
    people,joint membership, mediation/arbitration

99
58. channel dynamics
  • legal and ethical issues
  • exclusive dealing
  • exclusive territories
  • tying agreements
  • dealers rights

100
C16. integrated marcom
  • communication is a human activity!
  • does communication work better when the receiver
    and sender are alike (homophily) or when they are
    different (heterophily)?
  • are attractive spokespeople more credible?
  • how do you decide on the right campaign among the
    several you have designed?

101
59. develop communications
  • identify target audience
  • image analysis familiar/favorable
  • image content semantic differential
  • communication objectives
  • cognitive, affective, behavioral
  • hierarchy of effectsaware, know, like,
    preference, conviction and purchaseAIDAaware,
    interest, desire, action

102
59. develop communications
  • design the message
  • contentrational, emotional, moral appeal
  • structure one/two sided argument
  • format
  • sourceexpertise, trustworthy, likableattractive

103
59. develop communications
  • select channelpersonal, non-personal
  • establish budgetaffordable, percentage of
    sales,competitive-parity, objective and task
  • select mixpromotional tools (ad, sales promo,
    pr, selling, direct)based on product, buyer
    readiness, product life cycle stage

104
59. develop communications
  • measurerecognition, recall, attitudes
  • manage the integrated marcomcomprehensive
    planstrategic roles of different typescombine
    types for clarity, consistency and impact

105
60. advertising campaigns
  • set the objectivesinform, remind, persuade
  • decide budgetplc stage, share, clutter,
    frequency, substitutability
  • choose messagegenerate message, evaluate,
    execute, review social responsibility

106
60. advertising campaigns
  • media strategies
  • reach, frequency, impact
  • select media vehicles
  • decide on timing macro/micro-schedule,
    timing
  • evaluate advertising effectiveness
  • communication effect, sales effect, effectiveness

pulse
blitz
107
61. sales promotion
  • purposeattract new triers, reward loyal
    consumers, increase repurchase, attract brand
    switchers, short run gains for similar brands
  • major decisionsestablish objectives, select
    tools, develop programs, test/implement, evaluate

sales
time
promotion
108
62. public relations
  • marketing pr
  • major decision
  • establish objectives
  • choose message and vehicles
  • implement and evaluate plan
  • exposures, awareness/attitude change
  • best sales/profit impact

109
63. direct marketing
  • explosive growth
  • benefits focus and timing, demassification
  • integrated direct marketing
  • major channels sellers, direct mail, catalog,
    telemarketing, direct response TV ads, kiosk,
    e-marketing blanketing, databased,
    interactive, personalized, lifetime value
    based

110
conclusions
  • analyze each partprocess
  • 4C are the players
  • strategy is C3C midterms
  • marketing strategy is STP
  • specimix specify mixes finals

111
topics for final exam
situation strategy specifics
success
Write a Comment
User Comments (0)
About PowerShow.com