7-1 Chapter Seven Marketing Plan Dr. Bruce Barringer University of Central Florida.
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Transcript of 7-1 Chapter Seven Marketing Plan Dr. Bruce Barringer University of Central Florida.
![Page 1: 7-1 Chapter Seven Marketing Plan Dr. Bruce Barringer University of Central Florida.](https://reader035.fdocuments.in/reader035/viewer/2022062517/56649f265503460f94c3ded0/html5/thumbnails/1.jpg)
7-1
Chapter Seven
Marketing Plan
Dr. Bruce BarringerUniversity of Central Florida
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Copyright © 2009 Pearson Education, Inc. publishing as Prentice Hall 7-2
Introduction
Marketing plan Marketing strategy Positioning Points of differentiation Price Promotional mix Sales process Distribution strategy
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Copyright © 2009 Pearson Education, Inc. publishing as Prentice Hall 7-3
Overall Marketing Strategy
Marketing strategy
Approach to marketing a firm’s products and services stated in broad terms, which forms the basis of all its marketing-related activities
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Copyright © 2009 Pearson Education, Inc. publishing as Prentice Hall 7-4
Positioning Strategy
Positioning is how a firm is situated relative to its rivals
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Copyright © 2009 Pearson Education, Inc. publishing as Prentice Hall 7-5
Points of Differentiation
Clear points about your product that are memorable and distinct that make your product different and better than existing products
Product attribute map
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Copyright © 2009 Pearson Education, Inc. publishing as Prentice Hall 7-6
Product Attribute MapFigure 7-1
Low
Low
High
High
Tailored to the Specific Needs of Clientele
Ra
ng
e o
f A
me
niti
es
Pro
vid
ed
Gold’s Gym LAFitness Bally
YMCA
Community centerfitness clubs
Prime Adult Fitness
Curves International
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Copyright © 2009 Pearson Education, Inc. publishing as Prentice Hall 7-7
Pricing Strategy
How to price your product or service
Cost based Value based
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Copyright © 2009 Pearson Education, Inc. publishing as Prentice Hall 7-8
Sales Process and Promotions Mix
Sales process are the steps a firm goes through to establish relationships with customers and close sales
1. Prospecting2. Initial contact3. Qualifying the lead4. Sales presentation5. Meeting objections6. Closing the sale7. Follow up
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Copyright © 2009 Pearson Education, Inc. publishing as Prentice Hall 7-9
Promotions Mix
The specific tactics a firm uses to communicate with its potential customers
Advertising Public relations Other promotions-related
activities
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Copyright © 2009 Pearson Education, Inc. publishing as Prentice Hall 7-10
Advertising
Makes people aware of your product so they are persuaded to buy it
Major goals Raise customer awareness of
product Explain product's comparative
feature and benefits Create an association between
product and lifestyle
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Copyright © 2009 Pearson Education, Inc. publishing as Prentice Hall 7-11
Public Relations
Efforts to establish and maintain a company's image with the public Press release Media coverage Article in local newspapers Blogging Monthly newsletter Civic, social, and community
involvement
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Copyright © 2009 Pearson Education, Inc. publishing as Prentice Hall 7-12
Other Promotions-related Activities
Free samples Creating buzz by creating awareness and
sense of anticipation about company and product
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Copyright © 2009 Pearson Education, Inc. publishing as Prentice Hall 7-13
Distribution and Sales
Distribution encompasses all the activities that move a firm’s product from its place of origin to the consumer
Where people in your target market shop
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Copyright © 2009 Pearson Education, Inc. publishing as Prentice Hall 7-14
Sales Strategy
A firm needs to decide whether to field its own sales force or use intermediaries
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All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher. Printed in the United States of America.
Copyright ©2009 Pearson Education, Inc. publishing as Prentice Hall