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From Basic Marketing, Shapiro, Ninth Canadian Edition ppt slides created and Copyright by Tim Richardson Chapter 2 MKTG 106 Slide 1 NINTH Edition.

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Presentation on theme: "From Basic Marketing, Shapiro, Ninth Canadian Edition ppt slides created and Copyright by Tim Richardson Chapter 2 MKTG 106 Slide 1 NINTH Edition."— Presentation transcript:

1 From Basic Marketing, Shapiro, Ninth Canadian Edition ppt slides created and Copyright by Tim Richardson Chapter 2 MKTG 106 Slide 1 NINTH Edition

2 From Basic Marketing, Shapiro, Ninth Canadian Edition ppt slides created and Copyright by Tim Richardson Chapter 2 MKTG 106 Slide 2 NINTH Edition Page 30

3 From Basic Marketing, Shapiro, Ninth Canadian Edition ppt slides created and Copyright by Tim Richardson Chapter 2 MKTG 106 Slide 3 NINTH Edition The Marketing Management Process is 1. Planning mktg activities 2. Directing the implementation of the plans 3. Controlling the plans - checking progress some texts use P.O.D.C. Planning, Organizing, Directing, Controlling Page 49

4 From Basic Marketing, Shapiro, Ninth Canadian Edition ppt slides created and Copyright by Tim Richardson Chapter 2 MKTG 106 Slide 4 NINTH Edition “...Planning Strategies to guide the whole firm is called STRATEGIC (Management) PLANNING…” page 31 “...A Mktg Strategy specifies a target market and a related marketing mix…” - mktg mix is the 4p’s

5 From Basic Marketing, Shapiro, Ninth Canadian Edition ppt slides created and Copyright by Tim Richardson Chapter 2 MKTG 106 Slide 5 NINTH Edition On page the text makes a lot of effort to explain that planning which specific customers you sell to (tarket market) and how you go about developing the plans to do that, is one of the many important fundamentals of marketing

6 From Basic Marketing, Shapiro, Ninth Canadian Edition ppt slides created and Copyright by Tim Richardson Chapter 2 MKTG 106 Slide 6 NINTH Edition Target mktg does not mean SMALL - it means SPECIFIC Target mktg has 4ps specific Mass marketing is selling to everyone 4ps are general for the whole market Page 32 in Shapiro

7 From Basic Marketing, Shapiro, Ninth Canadian Edition ppt slides created and Copyright by Tim Richardson Chapter 2 MKTG 106 Slide 7 NINTH Edition MAIN REASON for Target mktg is to gain Competitive Advantage - by knowing something more specific about the customer you can make a better product that has more customer satisfaction Page 32 in Shapiro

8 From Basic Marketing, Shapiro, Ninth Canadian Edition ppt slides created and Copyright by Tim Richardson Chapter 2 MKTG 106 Slide 8 NINTH Edition Mass marketing is selling to everyone Mass marketers have target markets which are very large and spread out

9 From Basic Marketing, Shapiro, Ninth Canadian Edition ppt slides created and Copyright by Tim Richardson Chapter 2 MKTG 106 Slide 9 NINTH Edition Developing Marketing Mixes for Target Markets “… many different features and quality levels…” eg - peripherals - features - colours - shape - flavour - longevity Page 32 in Shapiro Eg. Leather daytimers

10 From Basic Marketing, Shapiro, Ninth Canadian Edition ppt slides created and Copyright by Tim Richardson Chapter 2 MKTG 106 Slide 10 NINTH Edition Page 33 in Shapiro

11 From Basic Marketing, Shapiro, Ninth Canadian Edition ppt slides created and Copyright by Tim Richardson Chapter 2 MKTG 106 Slide 11 NINTH Edition Product - (Chpt 9 and 10) the physical aspects of the product - making something people want to buy with the right attractive features Place - (Chpt 11 & 12) distribution channels - getting it to the customer, middlemen and wholesalers, shipping costs Promotion - (Chpt 14, 15 & 16) telling customers about the product, personal selling, mass selling, advertising, publicity, sales promotion Price - (Chpt 17 & 18) pricing objectives, penetration pricing, skimming, profit oriented, discounts, competition’s price Thoroughly read page 33-34

12 From Basic Marketing, Shapiro, Ninth Canadian Edition ppt slides created and Copyright by Tim Richardson Chapter 2 MKTG 106 Slide 12 NINTH Edition Therefore ---- once you understand the importance of the 4 p’s,,,,, the rest of the book is essentially chapters explaining the 4 p’s in more detail ;-)

13 From Basic Marketing, Shapiro, Ninth Canadian Edition ppt slides created and Copyright by Tim Richardson Chapter 2 MKTG 106 Slide 13 NINTH Edition So, you take the 4 p’s (the mktg mix) and your selected target market and put these together into your marketing strategy Page 35

14 From Basic Marketing, Shapiro, Ninth Canadian Edition ppt slides created and Copyright by Tim Richardson Chapter 2 MKTG 106 Slide 14 NINTH Edition Your marketing strategy is only as good as your understanding of the target market - “… marketers must analyze their potential target markets with great care…”

15 From Basic Marketing, Shapiro, Ninth Canadian Edition ppt slides created and Copyright by Tim Richardson Chapter 2 MKTG 106 Slide 15 NINTH Edition Marketing Plan “the marketing plan fills out the marketing strategy Page 36 in Shapiro

16 From Basic Marketing, Shapiro, Ninth Canadian Edition ppt slides created and Copyright by Tim Richardson Chapter 2 MKTG 106 Slide 16 NINTH Edition Marketing Plan Def’n “… a written statement of a marketing strategy and the time-related details for carrying out the strategy…” “… Several plans make a whole marketing programme…” “… the marketing programme is in turn part of the firm’s whole company strategic plan…” Page 36 Page 38

17 From Basic Marketing, Shapiro, Ninth Canadian Edition ppt slides created and Copyright by Tim Richardson Chapter 2 MKTG 106 Slide 17 NINTH Edition Marketing Programme “… the marketing programme blends all of the firm’s marketing plans into one big plan …” Page 57 in Shapiro Look at diagram in Exhibit on top of page 39

18 From Basic Marketing, Shapiro, Ninth Canadian Edition ppt slides created and Copyright by Tim Richardson Chapter 2 MKTG 106 Slide 18 NINTH Edition The Importance of Marketing Strategy Planning If you have a good understanding of future trends, and if you are able to have better knowledge (than your competitor) about customer wants and needs, you can develop a new and better way to approach the market Page 39

19 From Basic Marketing, Shapiro, Ninth Canadian Edition ppt slides created and Copyright by Tim Richardson Chapter 2 MKTG 106 Slide 19 NINTH Edition The Importance of Marketing Strategy Planning P. 40

20 From Basic Marketing, Shapiro, Ninth Canadian Edition ppt slides created and Copyright by Tim Richardson Chapter 2 MKTG 106 Slide 20 NINTH Edition strategic plan re: 4ps - what did they do? Price -offer watches for sale at low price Place -offer watches available at places other than traditional jewellery stores Product - change styling to be more fashionable Promotion - return to famous slogans Page 40

21 From Basic Marketing, Shapiro, Ninth Canadian Edition ppt slides created and Copyright by Tim Richardson Chapter 2 MKTG 106 Slide 21 NINTH Edition What are some real-life attractive opportunities now in January 1999 ?

22 From Basic Marketing, Shapiro, Ninth Canadian Edition ppt slides created and Copyright by Tim Richardson Chapter 2 MKTG 106 Slide 22 NINTH Edition What are some real-life attractive opportunities right now in January 1999 ? Pocket pager w personal alarm, and lighter Pills to Eliminate eating (have more time for other stuff) Faster and more efficient medical diagnosis Illuminating Frisbee for pets “Beam me up to school Scotty”

23 From Basic Marketing, Shapiro, Ninth Canadian Edition ppt slides created and Copyright by Tim Richardson Chapter 2 MKTG 106 Slide 23 NINTH Edition What are some real-life attractive opportunities right now in January 1999 ? Lipstick tube w toothbrush/floss at other end satellite dish feeding different TVs Multi-head shower lollipop pen anti-fog glasses

24 From Basic Marketing, Shapiro, Ninth Canadian Edition ppt slides created and Copyright by Tim Richardson Chapter 2 MKTG 106 Slide 24 NINTH Edition What are some real-life attractive opportunities right now in January 1999 ? Bubble gum / 1 hr security tech affordable for household entry kinetic energy heat for da feet access/egress voice control for pets voice stress analysis, portable/concealable

25 From Basic Marketing, Shapiro, Ninth Canadian Edition ppt slides created and Copyright by Tim Richardson Chapter 2 MKTG 106 Slide 25 NINTH Edition What are some real-life attractive opportunities right now in September 1999 ?

26 From Basic Marketing, Shapiro, Ninth Canadian Edition ppt slides created and Copyright by Tim Richardson Chapter 2 MKTG 106 Slide 26 NINTH Edition Competitive Advantage “every firm needs some competitive advantage” something you are really good at doing something that is better than your competition something which people want - so you can sell it without drastically having to lower the price Page 45

27 From Basic Marketing, Shapiro, Ninth Canadian Edition ppt slides created and Copyright by Tim Richardson Chapter 2 MKTG 106 Slide 27 NINTH Edition What are you going to do? “most people have unsatisfied needs - and alert marketers who see these needs find opportunities all around them” page 45 Translation most people can’t get what they want ! some smart people find out what you want ! these smart people make a lot of $$ selling stuff to you ! you buy this stuff which you never could get before !

28 From Basic Marketing, Shapiro, Ninth Canadian Edition ppt slides created and Copyright by Tim Richardson Chapter 2 MKTG 106 Slide 28 NINTH Edition What are you going to do? Types of Opportunities to Pursue Market Penetrationpage 45 Market Developmentpage 46 Product Developmentpage 47 Diversification page 47

29 From Basic Marketing, Shapiro, Ninth Canadian Edition ppt slides created and Copyright by Tim Richardson Chapter 2 MKTG 106 Slide 29 NINTH Edition What are you going to do? Types of Opportunities to Pursue Market Penetration Market Penetration page 45 “… means trying to increase sales in present (or new) markets through a more aggressive marketing mix …” could be done by a low low price could be totally new features on the product could be allowing it to be bought over the net could be by co-branding with another product better promotion to attract competition’s customers

30 From Basic Marketing, Shapiro, Ninth Canadian Edition ppt slides created and Copyright by Tim Richardson Chapter 2 MKTG 106 Slide 30 NINTH Edition What are you going to do? Types of Opportunities to Pursue Market Development Market Development page 46 “… means trying to establish sales by selling present products in new markets …” could be done by using different media new channels of distribution (Place) new uses (Product) eg. Baking soda

31 From Basic Marketing, Shapiro, Ninth Canadian Edition ppt slides created and Copyright by Tim Richardson Chapter 2 MKTG 106 Slide 31 NINTH Edition What are you going to do? Types of Opportunities to Pursue Product Development Product Development page 47 “… means offering new or improved products for present markets …” could be done by modifying the product (product modification) add different levels of quality add more sizes, features, new versions

32 From Basic Marketing, Shapiro, Ninth Canadian Edition ppt slides created and Copyright by Tim Richardson Chapter 2 MKTG 106 Slide 32 NINTH Edition Developing and Applying Screening Criteria SWOT page 48 Strength Weakness Opportunities Threats ROI - Return on Investment

33 From Basic Marketing, Shapiro, Ninth Canadian Edition ppt slides created and Copyright by Tim Richardson Chapter 2 MKTG 106 Slide 33 NINTH Edition What are you going to do? Types of Opportunities to Pursue Diversification Diversification page 47 “… means moving into different lines of business …” means new products AND new markets eg. McDonalds pizza, salad, TexMex eg. Nike, watches eg. Mercedes SUV eg. Calvin Klein, clothing to fragrances eg. Jeep, mountain bikes

34 From Basic Marketing, Shapiro, Ninth Canadian Edition ppt slides created and Copyright by Tim Richardson Chapter 2 MKTG 106 Slide 34 NINTH Edition What are you going to do? Types of Opportunities to Pursue International Opportunities International Opportunities page 52 “… national boundaries no longer limit market opportunities …” if you are competitive, and if transportation costs are not too high, then you should “go for it” niche market is key if you have a unique product


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