Chapter 11: MARKETING - PowerPoint PPT Presentation

Loading...

PPT – Chapter 11: MARKETING PowerPoint presentation | free to download - id: 4758c8-ZGNlY



Loading


The Adobe Flash plugin is needed to view this content

Get the plugin now

View by Category
About This Presentation
Title:

Chapter 11: MARKETING

Description:

CHAPTER 11: MARKETING Building Profitable Connections with Your Customers Sales Forecast Assess how the total market will perform What is the overall economic climate ? – PowerPoint PPT presentation

Number of Views:50
Avg rating:3.0/5.0
Slides: 40
Provided by: pwn3
Learn more at: http://sbuweb.tcu.edu
Category:

less

Write a Comment
User Comments (0)
Transcript and Presenter's Notes

Title: Chapter 11: MARKETING


1
Chapter 11 MARKETING
  • Building Profitable Connections with Your
    Customers

2
MARKETING IS MORE THAN ADVERTISING
  • Marketing a set of processes for creating,
    communicating, and delivering value to customers
    and for managing customer relationships in ways
    that benefit the organization and its
    stakeholders.

3
UTILITY
Form Utility
Time Utility
The ability of goods and services to satisfy
wants.
Place Utility
Ownership Utility
4
THE SCOPE OF MARKETING ITS EVERYWHERE
  • People Marketing
  • Place Marketing
  • Event Marketing
  • Idea Marketing

5
THE EVOLUTION OF MARKETING FROM THE PRODUCT TO
THE CUSTOMER
6
THE CUSTOMER FRONT AND CENTER
Customer Relationship Management (CRM)
  • Value
  • Customer Satisfaction
  • Customer Loyalty

Limited Relationships
Full Partnerships
7
MARKETING STRATEGY
WHERE ARE YOU GOING AND HOW WILL YOU GET THERE?
8
THE ENVIRONMENT IS CONSTANTLY CHANGING
When low carbohydrate diets swept through
American culture, retail sales of french fries
plummeted, dropping 2.9 in 2001, 3.3 in 2002,
and 10 in 2003.
9
TARGET MARKET
  • A Well Chosen Target Market
  • Size
  • Profitability
  • Accessibility
  • Limited Competition

10
CONSUMER MARKETS VS BUSINESS MARKETS
Consumer Markets
Business Markets
How will the buyer use the product?
Products used directly or indirectly to produce
other products.
Products for personal consumption.
Different approaches to select target markets.
11
ANALYZING PROMOTIONAL STRATEGIES
12
MARKET SEGMENTATION
Selecting a target market begins with dividing
your market into segments.
Marketers may select multiple segments to target.
13
CONSUMER MARKET SEGMENTATION
  • Demographic
  • Geographic
  • Psychographic
  • Behavioral

14
BUSINESS MARKET SEGMENTATION
  • Geographic
  • Customer-based
  • Product-use based

15
TURN UP THE VOLUME ON NAGGING MARKETING TO KIDS
  • Advertising directly to kids in the United States
    is a 15 billion business
  • Kids under 13 influence about 600 billion in
    family spending each year
  • Media-savvy kids often dont notice the pitches
  • A scary result 53 of kids say buying certain
    products makes them feel better about themselves

16
THE MARKETING MIX
4 P's
17
THE GLOBAL MARKETING MIX
  • Do you need to change your marketing mix for
    every country?
  • Most consumer products require a new marketing
    mix for each global market.

18
GRASS ROOTS MARKETING IS A BUNCH OF BULL...RED
BULL
  • Red Bull launched in Europe in 1987
  • They gave away cases of the product to student
    advocates and encouraged them to throw a PARTY!
  • They stayed connected with their young target
    market, becoming popular in bars
  • Red Bull launched in the US in 1997
  • They still employ Word-of-Mouth strategies

19
CUSTOMER BEHAVIOR DECISIONS, DECISIONS, DECISIONS
Consumer Behavior
How people act when they are buying products.
20
CONSUMER DECISION MAKING PROCESS
Need Recognition
Information Search
Evaluation of Alternatives
Purchase Decision
Postpurchase Behavior
21
INFLUENCE IN DECISION MAKING
Cultural Values, attitudes, customs, social class
Social Family, friends reference groups
Personal Demographics, personality
Psychological Motivation, attitudes, perceptions, learning
22
BUSINESS BUYER BEHAVIOR
  • Rationale Criteria
  • Specific Purchase Criteria
  • Objective Standards
  • Input from Multiple Internal Sources
  • Formal Process
  • Frequently Seek Customized Goods

23
MARKETING RESEARCH SO WHAT DO THEY REALLY THINK?
  • Monitor and predict customer behavior
  • Evaluate and improve marketing mix
  • Better marketing decisions
  • More value for consumers
  • More profits for business

24
Conducting Market Research
  1. Define the problem
  2. Access available information
  3. Gather additional information
  4. Review internal records interview employees
  5. Collect outside data
  6. Organize and interpret data
  7. Make a decision and take action
  8. Assess the results of the action

25
Define the Problem
  • List the possible causes
  • Eliminate any that can not be measured
  • Beware of symptoms
  • Your company has missed its revenue targets
  • Symptom sales declined
  • Possible causes
  • Have your customers changed?
  • Have their tastes changed?
  • Have their buying habits changed?
  • Have you changed your product?
  • Are there new competitors?

26
Gathering Information
  • Assess what you already have available
  • If you need more
  • Stay as close to home as possible
  • Sales records
  • Complaints
  • Receipts
  • Credit records
  • Ask your employees

27
MARKETING RESEARCH DATA
Secondary Data Existing Data Primary Data New Data that is Compiled
Lower Cost More Expensive
May not be Specific Customized
Frequently Outdated Fresh, New
Available to Competitors Proprietary
  • Already published material
  • Trade associations
  • Direct mail
  • Questionnaires
  • Telephone or street surveys
  • Panel studies
  • Test marketing

28
Organizing and Interpreting Data
  • Prioritize the data with the most important on
    top
  • What strategies are suggested?
  • How can they be accomplished?
  • How are they different from what Im doing?
  • What current activities should be increased?
  • What current activities should be decreased or
    dropped?

29
Making Decisions and Taking Action
  • Prioritize each possible strategy from the
    standpoint of
  • Immediate goal to be achieved
  • Cost to implement
  • Time to accomplish
  • Measurements
  • Select those with the greatest impact
  • Develop tactics to implement

30
Assess the Results
  • Analyze your progress measures
  • Adjust if necessary
  • At the conclusion..
  • Did you achieve your goal ?
  • Should the decision be renewed or expanded ?

31
COLOR ME HUNGRY?
Surrounding customers with red, yellow, and
orange encourages them to eat a lot quickly and
leave.
  • Marketing researchers found that American
    consumers associate red with energy, passion,
    speed, and hunger.
  • Yellow suggests happiness and warmth orange
    suggests playfulness, fun, affordability.

32
A MAJOR MARKETING SHIFT SOCIAL RESPONSIBILITY
  • Marketers have responded to social demands
  • Setting higher standards for environmentalism
  • Abolishment of sweatshops
  • Involvement in the community
  • Many companies have begun to employ green
    marketing
  • GO GREEN
  • Target consumers who buy based on their
    convictions

33
A MAJOR MARKETING SHIFT TECHNOLOGY
  • Technology has revolutionized marketing
  • Power has shifted from producers to consumers
  • Customers have 24/7 access to information
  • Marketers have an abundance of promotional
    opportunities
  • Companies can mass customize products for
    customers

34
Sales Forecast
  • Assess how the total market will perform
  • What is the overall economic climate ?
  • Assess your performance and market share
  • Will customers make decisions on the same basis
    they have in the past ?
  • How will your competitors perform
  • Will there be new competitors ?
  • Will they introduce new products ?
  • Will some competitors leave the market ?

35
Foundation Simulation
36
Customers
37
Product Questions
  • What do the customers want?
  • What are the characteristics of the product that
    are important to customers?
  • What is the most important product characteristic
  • In the low tech segment?
  • In the high tech segment?
  • What is perceived age of a product?
  • How is reliability measured?
  • What will increase material costs?

38
Pricing Questions
  • What do the customers want?
  • What is the price range for low tech products?
  • What is the high tech price range?
  • If Demand is greater than Supply, what is the
    impact on sensor prices?
  • If Supply is greater than Demand, what is the
    impact on sensor prices?

39
Promotional mix
  • You will invest money in a promotion budget and
    create awareness.
  • It relates to your advertising efforts.
  • The awareness you create is specific to a single
    product.
  • You will invest money in a sales budget and
    create access to your products.
  • Accessibility applies to the segment, not the
    product
  • Sales Budget is spent on distribution, order
    entry, customer service, etc.

40
Marketing What your customer wants
  • How much demand?
  • 70 market
  • 10 growth
  • How much demand?
  • 30 market
  • 20 growth
About PowerShow.com