****************** Part 3: How to Market Goods and Services 8.Developing Marketing Strategies...
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Transcript of ****************** Part 3: How to Market Goods and Services 8.Developing Marketing Strategies...
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Part 3: How to MarketPart 3: How to MarketGoods and ServicesGoods and Services
8.8.Developing Marketing Developing Marketing StrategiesStrategies
9.9.Promoting and Promoting and DistributingDistributing
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Chapter 8Chapter 8
Developing Developing Marketing Marketing Strategies Strategies
McGraw-Hill/Irwin Copyright © 2009 by The McGraw-Hill Companies, Inc. All rights reserved.
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DevelopingMarket Strategies
Marketing ConceptMarketing ConceptMarket ResearchMarket ResearchMarketing StrategyMarketing StrategyProduct Life CycleProduct Life CyclePackaging And PricingPackaging And PricingServices vs. GoodsServices vs. Goods
Ch
apte
r
7
USDA/ARS, Photo by Scott Bauer
8 - 3
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McGraw-Hill/Irwin
Superior MarketingSuperior Marketing
Moves QuicklyMoves Quickly
Pricing DifferentialPricing Differential
Attention to PackagingAttention to Packaging
Build Customer LoyaltyBuild Customer Loyalty
Samples/DemonstrationsSamples/Demonstrations
Educate CustomersEducate Customers
Ryan McVay/Getty Images
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Marketing ConceptMarketing Concept
“…“…Giving Special Giving Special Consideration To The Consideration To The Needs, Desires, And Needs, Desires, And Wishes Of Present Wishes Of Present And Prospective And Prospective
Customers.”Customers.”
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Elements OfElements OfMarketing ConceptMarketing Concept
1)1) Customer Customer OrientationOrientation
2)2) Goal OrientationGoal Orientation
3)3) Systems ApproachSystems ApproachJack Star/PhotoLink/Getty Images
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Implementing theImplementing the Marketing ConceptMarketing Concept
Conscious Of ImageConscious Of ImageProduct BenefitsProduct BenefitsCompany “Fit”Company “Fit”Offer ResearchOffer ResearchUnique ExpertiseUnique ExpertiseNot PushyNot PushySpeak With IntegritySpeak With Integrity
Practice ConsumerismPractice ConsumerismAware Of Danger SignalsAware Of Danger Signals
C. Borland/PhotoLink/Getty Images
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E-CommerceE-Commerce“…“…Technology-Mediated Technology-Mediated
Exchanges Between Parties Exchanges Between Parties As Well As The As Well As The
Electronically Based Intra- Electronically Based Intra- Or Interorganizational Or Interorganizational
Activities That Facilitate Activities That Facilitate Such Exchanges.”Such Exchanges.”
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MarketingMarketingResearch AreasResearch Areas
Identify CustomersIdentify Customers
Determine NeedsDetermine Needs
Evaluate Sales PotentialEvaluate Sales Potential
Select Appropriate Select Appropriate Channel Of Channel Of DistributionDistribution
Evaluate Advertising & Evaluate Advertising & PromotionPromotion
PhotoLink/Getty Images
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Steps InSteps InMarketing ResearchMarketing Research
Define ProblemDefine Problem
Gather/Evaluate Gather/Evaluate InformationInformation
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SourcesSourcesOf InformationOf Information
Existing InformationExisting Information
Primary ResearchPrimary Research
Specialized TechniquesSpecialized Techniques
WebWeb
Computerized DatabasesComputerized Databases
Keith Brofsky/Getty Images
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MarketingMarketingResearch On The InternetResearch On The Internet
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Checkout AutomationCheckout Automation
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Marketing StrategyMarketing Strategy
Set ObjectivesSet ObjectivesChoose Target Choose Target
MarketMarketMarket SegmentationMarket SegmentationShifting Target MarketsShifting Target MarketsRegional Purchasing DifferencesRegional Purchasing Differences
Jason Reed/Getty Images
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Shifting Markets-Shifting Markets-Population/HouseholdPopulation/Household
0
0.5
1
1.5
2
2.5
3
3.5
4
1940 1950 1960 1970 1980 1990 2000
Population PerHousehold
Population PerFamily
Source: U.S. Census Bureau
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Shifting Markets-Shifting Markets-Older ConsumersOlder Consumers
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Shifting Markets-Shifting Markets-Senior SpendersSenior Spenders
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Marketing Mix (4 Ps)Marketing Mix (4 Ps)
PProductroduct
PPlacelace
PPromotionromotion
PPricerice
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Product Life CycleProduct Life Cycle
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PackagingPackagingProductProduct
PromotesPromotes
ProtectsProtects
IdentificationIdentification
Improves Product Improves Product ConvenienceConvenience
Promotes Brand RecognitionPromotes Brand Recognition
Influences Buying Decision Influences Buying Decision
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Pricing (4 Cs)Pricing (4 Cs)CCustomerustomer
CCompanyompany
CCompetitionompetition
CConstraintsonstraintsRob Melnychuk/Getty Images
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InfluencesInfluencesOn Pricing PoliciesOn Pricing Policies
Stage Of Product Stage Of Product Life CycleLife Cycle
CompetitionCompetition
Cost-OrientedCost-Oriented
FlexibilityFlexibility
Suggested Retail Suggested Retail PricePrice
List PriceList Price
Prestige PricingPrestige PricingLeader PricingLeader PricingBait PricingBait PricingOdd PricingOdd PricingPsychological Psychological
PricingPricingPrice LiningPrice LiningDemand-Demand-
Oriented PricingOriented Pricing
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MarkupMarkup
Markup As Markup As Percentage Percentage
Of CostOf Cost==
$ Amount Of Markup$ Amount Of Markup
Cost Of The ItemCost Of The Item
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DiscountsDiscountsAnd AllowancesAnd Allowances
%Discount- Reduction Discount- Reduction On List Price As On List Price As Incentive To BuyIncentive To Buy
%Allowance- Given When Allowance- Given When Accepting Quality/Quantity Accepting Quality/Quantity ReductionReduction
Artvilee/Getty Images
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Types OfTypes Of Discounts/AllowancesDiscounts/Allowances
CashCashFunctional/TradeFunctional/TradeQuantityQuantityPromotionalPromotionalTrade-InsTrade-InsPush/Prize MoneyPush/Prize Money Joshua Ets-Hokin/Getty Images
BUY ONEBUY ONE
GET ONEGET ONE
FREEFREE
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SmallSmallBusiness Price SettingBusiness Price Setting
$Service FirmsService Firms$RetailersRetailers
¢Customary PriceCustomary Price¢Unit PriceUnit Price¢Loss LeaderLoss Leader
$WholesalersWholesalers$ProducersProducers$Building Contractors = Cost-PlusBuilding Contractors = Cost-Plus
PhotoLink/Getty ImagesPhotoLink/Getty Images
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Marketing ServicesMarketing Services
Nature Of ServiceNature Of ServicePersonalPersonal
BusinessBusiness
Differentiating Differentiating Services Services Adam Crowley/Getty Images
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MarketingMarketingService StrategyService Strategy
Level Of Customer Level Of Customer ContactContact
PrimacyPrimacy PricingPricing
QualityQuality Degree Of Expertise/SpecialtyDegree Of Expertise/Specialty Value To BuyerValue To Buyer
PromotionPromotion
Rob Melnychuk/Getty Images
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Strategy Implementation-Strategy Implementation- Introductory StageIntroductory Stage
Analyze SituationAnalyze SituationPresentPresent
FutureFuture
Fit Product To Fit Product To MarketMarket
Evaluate ResourcesEvaluate Resources
Ryan McVay/Getty ImagesRyan McVay/Getty Images
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New Classes Of CustomersNew Classes Of Customers
Penetration Of Penetration Of
Existing MarketExisting Market
Maintain Market Maintain Market
Share By Design & Marketing Share By Design & Marketing
InnovationInnovation
Strategy Implementation-Strategy Implementation- Growth StageGrowth Stage
C. Borland/PhotoLink/Getty Images