Meeting needs and delivering benefits

Predicting and analyzing needs to determine what customers want and what needs the company wants to meet

Determining pricing ,promotion and distribution strategy

Stregnths

Weaknesses

Opportunities

Threats

Product

Price

Promotion

Place (distribution)

Promotional messages

promotional mix(advertising, sales promotion, public relations, personal selling, direct marketing)

OGSM

Marketing Objectives

Objectives

goals

Strategies

Measures

What do we need to achieve

(Words)

Goals

What do we need to achieve

Numbers/Financials

How will we achieve our objectives

Words

How will we know if we achieved our objectives?

Numbers/Fiancials

Stars

Dogs

Cash Cows

Question Marks

Work with agencies to develop tactics

Launch tactics with appropriate knowledge and training

Measure performance

Compare performance to set objective

Make adjustmnets to the objective, or the strategy as needed

Specific action plans to achieve objectives

Includes description of tactic, budget, timeline, responsible party, and how you will measure success of the tactic

Market research?

(The process of )

Collecting, Analyzing, and interpreting data

data= customers, competitors, business environment

Represents a type of buyer that has a:

Specific interest in your organization/product

OR

market problem that your product/service solves

"Determine Research design"

Primary Data Sources

Obeservation

Questioning

Primary data source Observation

Inside company

&

Outside Company

asking open-ended questions

&

get people to share thoughts

(focus groups, live interview, Online chats)

Seek structured responses that can be summarized into statistics

Survey questionnaires

(Phone, internet, email, mail)

Awarness

Trial

Usage

How consumers make decisions

Awarness

brand knowledge

Measure of attitudes

Top of mind awareness

Awareness

How consumers make decisions

Trial

Intentions

Purchase Habits

How consumers make decisions

Usage

Loyalty

Customer Satisfaction

Problem recognition

INromation search

Evaluate Alternatives

Product choice

Post-Purchase evaluation

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Internal

Social

Situational

Self-actualization

Ego Needs

Belongingness

Safety

Phsysiologial

"Because your worth it" (L'Oreal)

Self-Fulfillment, self-esteem, enrichment

"Yes we can" "Change we can believe in"

Prestige, accomplishment, satus

Belongingness

"You're in the Pepsi generation"

Friendship, love, acceptance

"Always there" ADT security

Protection and physial well-being

"Got Milk"

Food, liquid, sleep, sex

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Supporting features

Warranty, credit, delivery, service

Physial good or delivered service

Features, packaging, brand, quality, look

Core Prodcut

Basic benefits

"Custuomer buys 1/2 inch hole"

"Phases in new product development"

Phase #1 Idea Generation

Brainstorming products that provide the customer benefits and which are compatible wit the firm's mission

"Phases in New-Product Development"

Phase # 2 Product-Concept development and screening

Product ideas that are tested for technical and commercial success

"Phases in New-Product Development"

Phase #3 Marketing Stategy Development

Developing strategy to introduce the product to the marketplace

May involve "Green Marketing"

"Phases in New Product-Development'

Phase #4 Business analysis

"Phases in NEw-product development'

Phase # 5 Technical development

Firm engineers refine and perfect the new product

Prototypes or test verions of the proposed produt are developed (in R&D dpartment)

"Phases in NEw-Product development"

Phase # 6 Test Marketing

"Phases in New-Product Development"

Phase # 7 Commecialization

The new product is launched into the market

Full-scale production, distribution, advertising and sales promotion are beugn

Confirmation

Adoption

Trial

Evaluation

Interest

Awareness

Adoption Pyramid

"Confirmation"

"Adoption Pyramid"

Adoption

"Adoption Pyramid"

Trial

"Adoption Pyramid"

Evaluation

"Adoption Pyramid"

INterest

"Adoption Pyramid"

Awareness

Innovators

early Adopters

Early Majoriy

Late Majority

Laggards

Introduction Stage

Growth Stage

Maturity Stage

Decline stage

"Product Lifecycle"

Introduction stage

"prodcut Lifecycle"

Growth Stage

"Product Lifecycle"

Maturity Stage

"Product lifecyle"

Decline Stage

Market Shrinks

Sales Fall

Customers desire for product

How much of a product are customers willing to buy as its price goes up or down

most products..as price goes up, quantity demanded goes down

prestige products...a price increases may actually result in an increase in quantity demanded

When changes in price have large effects on the amount of demanded , demand is elastic

When changes in price have little or no effect on the amount demanded, demand is inelasatic

point at which total revenue and totalk cost are equal

(it will help you figure out when you will start making a profit)

INform

Remind

Persuade

Build relationships

Integrated marketing communication (IMC)

Process that marketers use to plan, develop, execute and evaluate coordinated ,measurable, persuasive brand communiation PROGRAMS over time to targeted audiences

Promotion Mix

Major communication elements the marketer controls

Advertising, (HIGH)

Sales promotion,

Personal selling,

Direct marketing,

PR,

Word of mouth (LOW)

Try to reach many people at the same time

(includes advertising, sales promotion, public relations)

 requires high spending on advertising and consumer promotion to build up consumer demand for a product.

If the strategy is successful, consumers will ask their retailers for the product, the retailers will ask the wholesalers, and the wholesalers will ask the producers.

Transport and Store goods

Perform facilitating functions and services to make purchase process easier

Provide communication and transaction functions

Producer

Wholesaler

Retailer

Customer

"Characteristics of Service"

Intangibility

Cannot inspect or handle services in advance

More difficult for cutomers to evaluate

Intangible - and cannot have a real, physical presence as does a product. For example, motor insurance may have a certificate, but the financial service itself cannot be touched i.e. it is intangible.

"Characteristics of Service"

Perishability

Use it or lose it

Capacity Management- organizations adjust services in an attempt to match supply with demand

once it has occurred it cannot be repeated in exactly the same way. For example, once a 100 metres Olympic final has been run, there will be not other for 4 more years, and even then it will be staged in a different place with many different finalists.

"Characteristics of Service"

Inseperability

"Characteristics of Service"

Variability

Over time, service-even if performed by the same person on teh same customer-varies

since the human involvement of service provision means that no two services will be completely identical. For example, returning to the same garage time and time again for a service on your car might see different levels of customer satisfaction, or speediness of work.

communication goals of:

attentiion

interest

desire

action