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2 -1 Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Correction of Final Exam Day Final Exam is on 12/9 (Friday): 9:10-11:10.

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Presentation on theme: "2 -1 Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Correction of Final Exam Day Final Exam is on 12/9 (Friday): 9:10-11:10."— Presentation transcript:

1 2 -1 Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Correction of Final Exam Day Final Exam is on 12/9 (Friday): 9:10-11:10.

2 MARKETING AN INTRODUCTION Armstrong/Kotler MARKETING AN INTRODUCTION Armstrong/Kotler 2 Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Company and Marketing Strategy Partnering to Build Customer Relationships

3 2 -3 Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Chapter Outline Corporate level planning: Business missions vs. marketing objectives Analyze business portfolio: BCG Approach Marketing Strategy and the Marketing Mix – STP Process – Marketing Mix Managing the Marketing Effort Measuring and Managing Return on Marketing Investment

4 2 -4 Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Strategic Planning A fit between marketing opportunities and organizational goals and capabilities Organizational capabilities and goals Marketing opportunities

5 2 -5 Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Companywide Strategic Planning

6 2 -6 Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Defining a Market-Oriented Mission Market oriented and based on satisfying customer needs Meaningful and specific yet motivating Emphasize companys strengths in the market Should NOT be stated in sales or profits Mission Statement

7 2 -7 Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Market-oriented business definitions CompanyProduct-orientedMarket-oriented Charles SchwabWe are a brokerage firm. NikeWe sell athletic shoes and apparel RevlonWe make cosmetics

8 2 -8 Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Market-oriented business definitions CompanyProduct-orientedMarket-oriented Charles SchwabWe are a brokerage firm.We are the guardian of our customers financial dreams. NikeWe sell athletic shoes and apparel We bring inspiration and innovation to every athelete in the world. (f you have a body, you are an athlete.) RevlonWe make cosmeticsWe sell lifestyle and self- expression; success and status; memories, hopes and dreams.

9 2 -9 Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 2-9 ©2011 Pearson Education, Inc. publishing as Prentice Hall Which of the following mission statements is market-oriented? 1.Revlon: We sell cosmetics 2.Disney: We run theme parks 3.Wal-Mart: We deliver value through low prices 4.Xerox: We make copy, fax, and other office machines

10 2 -10 Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 2-10 ©2011 Pearson Education, Inc. publishing as Prentice Hall Which of the following mission statements is market-oriented? 1.Disney: We run theme parks 2.Revlon: We sell cosmetics 3.Wal-Mart: We deliver value through low prices 4.Xerox: We make copy, fax, and other office machines Market-oriented mission statements are defined in terms of customer needs, rather than products or technologies.

11 2 -11 Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Business Mission of Ebay What does e-bay offer? Comparing with other sellings website, what makes ebay more competitive?

12 2 -12 Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Business Missions: Ebay eBay – We help people trade practically anything on earth. We will continue to enhance the online trading experiences of all- collectors, dealers, small business, unique item seekers, bargain hunters, opportunity sellers, and browsers.

13 2 -13 Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Setting Company Objectives and Goals What Marketing Objectives? Build profitable business relationships Marketing Objective?

14 2 -14 Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Marketing Objective A statement of what is to be accomplished through marketing activities Realistic, measurable, and time specific Examples of marketing objective statements

15 2 -15 Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Example of Marketing Objective Our objective is to be a leader in the industry in terms of new-product development. Our objective is to spend 12 percent of sales revenue between 2007 and 2008 on research and development in an effort to introduce at least five new products in 2008

16 2 -16 Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Designing the Business Portfolio The Business Portfolio is the collection of businesses and products that make up the company

17 2 -17 Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall The Boston Consulting Group Approach

18 2 -18 Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Analyze Apples Product Portfolio Star (iphone,ipad) ? Apple TV Cashcow (ipod) Mac Market Growth Rate Relative Market Share High low Highlow

19 2 -19 Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Strategies for Growth and Downsizing

20 2 -20 Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Market-Product Strategies: Ben and Jerry

21 2 -21 Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Video case: Live Nation What is Live Nations mission? Based on the product/market expansion grid, what strategy is Live Nation pursuing

22 2 -22 Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Outline Course Id to access mymktlab: CRSCDD – IE web browser preferred Marketing strategy – STP Process – Return on marketing investment Class activity 1

23 2 -23 Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Marketing Strategy and the Marketing Mix

24 2 -24 Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall ©2011 Pearson Education, Inc. publishing as Prentice Hall Introduce new bicycle models 2.Introduce modifications to its existing bicycle products 3.Identify new market segments for its current products 4.Start up or acquire businesses outside of its current products and markets Schwinn Bicycle Company wants to grow by diversification. To accomplish this, Schwinn will:

25 2 -25 Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall ©2011 Pearson Education, Inc. publishing as Prentice Hall 2-25 Schwinn Bicycle Company wants to grow by diversification. To accomplish this, Schwinn will: 1.Introduce new bicycle models 2.Introduce modifications to its existing bicycle products 3.Identify new market segments for its current products 4.Start up or acquire businesses outside of its current products and markets Diversification is the riskiest strategy as it requires that businesses develop new products in new markets.

26 2 -26 Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall ©2011 Pearson Education, Inc. publishing as Prentice Hall 2-26 Procter & Gamble once had more that ten different brands of laundry detergent but now markets only six. This is an example of: Downsizing Diversification Market contraction Market penetration

27 2 -27 Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall ©2011 Pearson Education, Inc. publishing as Prentice Hall 2-27 Procter & Gamble once had more that ten different brands of laundry detergent but now markets only six. This is an example of: 1.Downsizing 2.Diversification 3.Market contraction 4.Market penetration Downsizing is reducing the business portfolio by eliminating products of business units that are not profitable or that no longer fit the companys overall strategy.

28 2 -28 Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Marketing Strategy Segmentation Targeting Positioning

29 2 -29 Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Customer Driven Marketing Strategy Market segmentation is the process of dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors, and who might require separate products or marketing programs

30 2 -30 Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Segmentation

31 2 -31 Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Customer Driven Marketing Strategy Market targeting involves evaluating each market segments attractiveness and selecting one or more to enter

32 2 -32 Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Customer Driven Marketing Strategy Positioning is arranging for a product to occupy a clear distinctive, and desirable place relative to competing products in the minds of the customer.

33 2 -33 Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Discussion: Mapping SUVs Position these brands on a 2-dimension map (Price vs. performance) – Range Rover – Hummer H1 – Hummer H2 – Lexus LX 470 – Lincoln Navigator – Land Cruiser – Escalade

34 2 -34 Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Discussion: Mapping SUVs

35 2 -35 Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall The Gap Example What is Gaps STP strategy?Gaps How do they segment the market? What are their target markets How do they position the brand? Summary

36 2 -36 Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Developing an Integrated Marketing Mix

37 2 -37 Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Managing the Marketing Effort Marketing Analysis

38 2 -38 Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Marketing Analysis

39 2 -39 Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Marketing Control Set marketing goals Measures performance Evaluates causes of differences Take corrective actions

40 2 -40 Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Measuring and Managing Return on Marketing Investment Return on marketing investment (marketing ROI) is the net return from a marketing investment divided by the costs of the marketing investment.

41 2 -41 Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Class activity one Product Portfolio Analyze


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