How Consumer Analysis Affects Business Strategy
|
|
- Corey Holmes
- 5 years ago
- Views:
Transcription
1 CHAPTER 2 How Consumer Analysis Affects Business Strategy Marketing Strategy Involves the allocation of resources to develop and sell products or services that consumers will perceive to provide more value than competitive goods Value: the difference between what consumers give up (pay with resources) for a product and the benefits they receive in return 2 1
2 Foundations of Market-driven Strategies A thorough understanding of consumer trends, global markets, models to predict purchase and consumption patterns, and communication methods to reach target markets most effectively Consumer Behavior Consumer Insight 3 Creating Market-driven Strategies Shared vision (among partners) about the market and expected changes Selecting avenues for delivering superior value to customers Positioning the firm and brand based on distinctive competencies Recognizing value of collaborative relationships with channel members and other entities New organizational designs for implementing and managing strategies 4 2
3 Market Analysis Consumer Company Environmental Political/Legal Implementation in Marketplace Segmentation Demographic Situational Psychographic Marketing Mix Product, Brand, Price, Place Promotion, and 7Rs 5 Market Analysis The process of analyzing consumers and trends; current and potential competitors; company strengths and resources; and the technological, legal, and economic environments One goal is to minimize the number of failed products introduced to the market by better understanding the wants and needs of the market 6 3
4 Market Analysis: Consumer Insight and Product Development Consumer Insight: an understanding of consumers expressed and unspoken needs and realities that affect how they make life, brand, and product choices. Combines fact (from research) and intuition to yield an insight that can lead to a new product, existing product innovation, brand extension, or revised communication plan 7 V8, a brand of vegetable and fruit juices, introduced a new individual size juice box for consumers who want to drink on the go. 8 4
5 Market Analysis: Consumer Environment Includes demographic trends, personal and group influences, motivation, attitudes, knowledge, changing needs, consumption patterns, and consumer lifestyles Changes in the consumer environment can lead to changes in packaging, positioning, product design, and advertising methods -Mitsubishi -Healthy Choice 9 Changing Consumer Health Trends 10 5
6 Market Analysis: Corporate Strengths and Resources Resources: -Financial -Personnel / managerial -Production -Development and design -Research -Marketing / advertising Strengths: -3M known for leadership, quality, and innovation -Advertising highlights corporate strength 11 Market Analysis: Current and Potential Competitors -Who are current competitors and which firms are likely to become competitors? -What are advantages/disadvantages of competitors and competitive products? -How will competitors react to new products or innovations (Manco tape; see Duck Company Case) 12 6
7 Market Analysis: Market Environment State of Economy Government Stability and Regulations Market Environment Physical Conditions Technology 13 Market Analysis Consumer Company Environmental Political/Legal Implementation in Marketplace Segmentation Demographic Situational Psychographic Marketing Mix Product, Brand, Price, Place Promotion, and 7Rs 14 7
8 Market Segmentation Process of identifying a group of people similar in one or more ways, based on a variety of characteristics and behaviors Results in market segment: a group of consumers with similar needs and behaviors that differ from those of the entire mass market Goal: minimize variance within groups and maximize variance between groups Opposite of market aggregation 15 Market Segmentation Identifying Segments Consumer Characteristics ~Demographics ~Psychographics ~Purchase & Consumption Behavior Geographical Characteristics ~National boundaries ~State or regional boundaries Situational Characteristics ~Work versus Leisure usage ~Where used ~Personality ~Culture ~Values ~Urban/rural ~Zip code ~Time Using multiple variables to narrow target 16 8
9 Criteria for Choosing Segments Measurability: ability to obtain information about the size, nature and behavior of a market segment Accessibility: degree to which segments can be reached, either through various advertising or communication programs or methods of retailing Substantiality: size of the market--is it large enough to be profitable? Congruity: how similar segment members are in characteristics or behaviors 17 Market Segmentation Increasing diversity in consumer needs and wants leads to mass customization: customizing goods for individual customers in high volumes and at relatively low costs Key is understanding which customized features customers value the most Ability to reach segment of one Segmentation can increase profitability -decreases marketing expenses -increases value (and therefore price) to consumers 18 9
10 Segmentation at The Limited Different stores for different folks Each division evolved from servicing a new segment of consumer The Limited: Young to Boomer Career Women Structure: Young Men 19 Lane Bryant: Larger-sizes for Real Women Market Analysis Consumer Company Environmental Political/Legal Implementation in Marketplace Segmentation Demographic Situational Psychographic Marketing Mix Product, Brand, Price, Place Promotion, and 7Rs 20 10
11 Market Mix Strategies: Product Product: the total bundle of utilities (or benefits) obtained by consumers in the exchange process Internal considerations include: -What are the costs of developing, producing, distributing, and selling the product? -How much profits will the product generate? External considerations include: -Will new product satisfy consumer demand better than old product or competitive product? -What packaging will most likely attract consumers and fulfill storage needs best? 21 Market Mix Strategies: Price Price: the total bundle of costs given up by consumers in the exchange process Pricing considerations include: -What is the best pricing policy for the product or for the store? -How will consumers react to Everyday Low Prices or promotional prices? -Is it more important to have the lowest price or prices in the range consumers expect to pay? -What effect does price reduction or price ending have on perceived quality of product? -What does pricing policy need to be to maintain a healthy profit margin? 22 11
12 Market Mix Strategies: Promotion and Place Promotion: activities involved in selling a product, including advertising, personal sales, publicity, and public relations -What message should be sent to consumers? -Which elements will best reach segments? -How will attributes be communicated best? Place: physical distribution and location of sale (retail outlet) -Where do consumers want or expect to buy this product? -What is the most efficient distribution channel and method to get product to place of sale? 23 Market Mix Strategies: Brand Brand: a trademark or distinctive name identifying a product or manufacturer A promise to consumers that attributes they desire most will be obtained when they buy the preferred brand Often create an emotional attachment 24 12
13 Market Analysis Consumer Company Environmental Political/Legal Implementation in Marketplace Segmentation Demographic Situational Psychographic Marketing Mix Product, Brand, Price, Place Promotion, and 7Rs 25 Strategy Implementation Even the best strategies are worthless if not implemented well in the marketplace 7Rs for formulation and implementation 26 13
14 Strategy Implementation Research Rate Resources Retailing Reliability Reward Organization Design, conduct, analyze Speed to market Company resources Methods, type, location Upon channel members Design and run programs Consumer Give information Speed of shopping Forms of payment Where shop & buy Of brand & retailer From programs Relationship With partners & customers To store and brand Customer Satisfaction 27 Customer Loyalty and Retention Strategies 28 14
15 Customer Loyalty Programs (1 of 2) It is less costly and easier to keep a customer than it is to create a new one With increased choices, consumers are becoming more fickle and less loyal Loyalty programs are designed to reward consumers for repeat patronage rather than reward cherry-pickers These programs can increase loyalty to a brand, service, retailer, or organization Common programs include purchase (store/brand), stay (hotel), or flyer (airline) 29 Customer Loyalty Programs (2 of 2) Help identify customer segments that can be targeted with special offers or perks that are of more value to customers Ultimate goal is to strengthen the relationship with the customer 30 15
16 Strengthening Relationships with Loyalty Programs Make individualized marketing a reality Institute a total quality control policy Introduce an early warning system Build realistic expectations Provide guarantees Provide information on product use Solicit customer feedback Acknowledge, address & rectify complaints Reinforce customer loyalty 31 Global Marketing Strategy Thinking Globally: involves ability to understand markets beyond one s own country of origin with respect to: Sources of demand Sources of supply Management & marketing methods 32 16
17 Global Marketing Strategy Organizations must understand consumers on a global basis Globalization provides opportunities for growth for large and small firms The Internet provides a way to reach global markets inexpensively 33 Global Marketing Strategy Can marketing be standardized? -Can a firm use the same marketing program in all target countries, or must it create a different program for each? -Which are greater-- the similarities among or differences between consumers in different countries? -How do advantages of economies of scale and unified brand image compare to advantages of culture-specific messages? 34 17
18 Global Marketing Strategy Cultural analysis: the comparison of similarities and differences in behavioral and physical aspects of cultures Cultural empathy: the ability to understand the inner logic and coherence of other ways of life and refrain from judging other value systems Intermarket segmentation: the identification of groups of customers who transcend traditional market or geographic boundaries (similar segments around the world) 35 Intermarket Segmentation Building marketing strategy on peoples universals rather than differences. Escada customers are similar in affluence, taste, and style, regardless of where they live
19 Global Advertising Effectiveness Global advertising sends the same message to consumers around the world Localized campaigns adapt messages to the norms of the different cultures When is global advertising most effective? -Message is based on similar lifestyle -Ad appeals to basic human needs and emotions -Product satisfies universal needs and desires Language problems may occur, but back- translation, visual language, and local experts (advice) helps overcome them 37 Global Advertising Effectiveness Before choosing a brand name, marketers should consider the following: -Does the name of the product have another meaning in other countries in which it might be marketed? -Can the name be pronounced everywhere? -Is the name close to that of a foreign brand, or does it duplicate another product sold in other markets? -If the product is distinctly American, will national pride and prejudice work against the acceptance of the product in foreign markets? Review Question What are the characteristics of customer loyalty programs? 38 19
Chapter 2 The Role of IMC in the Marketing Process. Learning Objectives. Learning Objectives
Chapter 2 The Role of IMC in the Marketing Process Copyright 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.
More informationMarketing: Managing Profitable Customer Relationships
Marketing: Managing Profitable Customer Relationships Chapter 1 Learning Goals 1. Define marketing and the marketing process. 2. Explain the importance of understanding customers and identify the five
More informationMKT624 Brand Management Solved MCQs By
MKT624 Brand Management Solved MCQs By http://vustudents.ning.com 1. At the center of a brand s characteristics is the following: a. Identity b. Image c. Value d. None of the given options 2. Brand management
More informationContinuous customer dialogues
Infor CRM Continuous customer dialogues Strategies for growth and loyalty in multi-channel customer-oriented organizations Table of contents Overview... 3 The continuous customer dialogue vision... 4 Create
More informationWhat Is Marketing? 1. Defined: The process of developing, promoting, and distributing products to satisfy customers needs and wants.
What Is Marketing? 1. Defined: The process of developing, promoting, and distributing products to satisfy customers needs and wants. Development + Promotion + Distribution = Happy Customer 1. Products
More informationHit a Home Run with Customers. Sports and Entertainment Marketing Thomson/South-Western
4 Hit a Home Run with Customers Winning Strategies Frito-Lay Reaches Teens U.S. teenagers spend $175 billion annually teens are trendsetters and early adopters teens offer a potential lifetime of purchasing
More informationChapter 12. Customer-Driven Marketing
Chapter 12 Customer-Driven Marketing 1 2 3 Summarize the ways in which marketing creates utility. Explain the marketing concept and relate how customer satisfaction contributes added value. Describe not-for-profit
More information6. MARKETING CONCEPTION A PHILOSOPHY OF BUSINESS, CUSTOMERS AND CONSUMERS, MARKETING AND SELLING, PRODUCT DEVELOPMENT PROCESS - STRATEGY, TACTICS
6. MARKETING CONCEPTION A PHILOSOPHY OF BUSINESS, CUSTOMERS AND CONSUMERS, MARKETING AND SELLING, PRODUCT DEVELOPMENT PROCESS - STRATEGY, TACTICS What is Marketing Marketing encompasses a wide array of
More informationTargeting Omni-Channel Shoppers
Targeting Omni-Channel Shoppers Marketing Data Solutions for the Retail Industry Publication Date: March, 2015 www.datamentors.com info@datamentors.com DataMentors, LLC Data-Driven Targeting Omni-Channel
More informationChapter Seven. Customer-Driven Marketing Strategy: Creating Value for Target Customers. i t s good and good for you 7-1
i t s good and good for you Chapter Seven Customer-Driven Marketing Strategy: Creating Value for Target Customers Copyright 2012Pearson Education, Inc. 7-1 Customer-Driven Marketing Strategy: Creating
More informationaffordability budgeting Method in which companies budget for marketing based on what they believe
Glossary -1 Glossary for Wood, The Marketing Plan 2e affordability budgeting Method in which companies budget for marketing based on what they believe they can afford. (Chapter 10) annual plan control
More informationNoreina Binti Nasir. Faculty Of Technology Management, Business & Entrepreneurship UTHM. Chapter Six
Noreina Binti Kepal @ Nasir Faculty Of Technology Management, Business & Entrepreneurship UTHM Chapter Six Segmentation, Targeting, Differentiation and Positioning Customer-Driven Marketing Strategy: Creating
More informationChapter 11. Customer-Driven Marketing
Chapter 11 Customer-Driven Marketing Learning Objectives 1 Define marketing. 5 Describe marketing research. 2 3 4 Discuss the evolution of the marketing concept. Describe not-for-profit marketing and nontraditional
More informationMMK101 SUMMARY NOTES Marketing Fundamentals Exam Preparation
MMK101 SUMMARY NOTES Marketing Fundamentals Exam Preparation LINK TO PROQUEST EBOOK THROUGH DEAKIN PORTAL (Armstrong et al 2017, Principles of Marketing, 7th edition) LO = Learning Objective Word count:
More informationContents. Understanding Marketing Management 24. Preface 16
Contents Preface 16 PART 1 CHAPTER 1 Understanding Marketing Management 24 Defining Marketing for the 21st Century 24 The Importance of Marketing 25 The Scope of Marketing 27 What Is Marketing? 27 What
More informationSegmentation, Targeting, and Positioning Figure 7.1. Case Study Procter & Gamble
Chapter 7 Segmentation, Targeting, and Positioning: Building the Right Relationships with the Right Customers Case Study Procter & Gamble Sells multiple brands within the same product category for a variety
More informationExchange is the basis of marketing, with both parties to the exchange receiving something of value.
Marketing Midterm Study Guide Chapter 1 Notes: Many people perceive marketing to be just advertising and personal selling, but it involves much more, including efforts by individuals and organizations
More informationPsychographic Segmentation
Psychographic Segmentation By Jim Mintz, Managing Partner, CEPSM Psychographics marketing Psychographics marketing may be a concept that you are not fully aware of, but it is an essential part of marketing.
More informationMarketing: An Introduction
Marketing: An Introduction Armstrong, Kotler Chapter Seven Product, services, and branding strategy Looking Ahead Define product and the major classifications of products and services. Describe the roles
More informationResearch on Information Needs and Consumer Behavior
Research on Information Needs and Consumer Behavior Yu Kai Huang Credit points: 3 Classroom: H508 Date: Thursday 6-8 NHU EMBA Course requirements Class participation (10%) Key paper presentation(20%) Term
More informationStrategy and the Marketing Mix
Strategy and the Marketing Mix Business Policy Please note that these slides are not intended as a substitute to reading the recommended text for this course. 0 Objectives Relevance of strategic marketing
More informationTARGETING AND POSITIONING STRATEGIES UNIT-5 SEGMENTATION
UNIT-5 SEGMENTATION TARGETING AND POSITIONING STRATEGIES Keshav Gadtaula 9842124280, 9851183360 ksv.isken@gmail.com Contents Segmentation concept Process Requirements and levels Bases for segmenting consumer
More informationConsumer Audit Report
Consumer Audit Report Dan Hoff The brand/business that I am choosing to audit for this report is Express. They are a midto-high priced clothing store. They specialize in lavish clothes like dress shirts,
More informationChapter 1: Creating and capturing customer value
Chapter 1: Creating and capturing customer value What is Marketing? Marketing is managing customer relationships. Marketing is a social and managerial process by which individuals and organizations obtain
More informationCHAPTER - 6 CONCLUSIONS, SUGGESTIONS, LIMITATIONS AND DIRECTIONS FOR FURTHER RESEARCH
333 CHAPTER - 6 CONCLUSIONS, SUGGESTIONS, LIMITATIONS AND DIRECTIONS FOR FURTHER RESEARCH In the final chapter of the thesis, it is proposed to provide an overview of the present study and present conclusions
More informationRELATIONSHIP MARKETING AND CUSTOMER CARE
RELATIONSHIP MARKETING AND CUSTOMER CARE LEARNING OUTCOMES At the end of the class room discussion we will be able to: Explain what is relationship marketing Identify the importance of relationship marketing
More informationCustomer-Driven Marketing Strategy Creating Value for Target Customers
Customer-Driven Marketing Strategy Creating Value for Target Customers Chapter 7 Learning Goals 1. Define the steps in designing a customer-driven market strategy: market segmentation, target marketing,
More informationUnderstanding Customer Differences
CHAPTER 2 Understanding Customer Differences E-Customer Relationship Management Objectives Describes a basic view of market segmentation Identifying Customer Differences Views of Customer Organizations
More informationMcGraw-Hill/Irwin 2004 The McGraw-Hill Companies, Inc., All Rights Reserved.
2 The Role of IMC in the Marketing Process McGraw-Hill/Irwin 2004 The McGraw-Hill Companies, Inc., All Rights Reserved. Marketing and Promotions Process Model Marketing Strategy and Analysis Competitive
More informationCARL McDANIEL Department of Marketing University of Texas at Arlington
CARL McDANIEL Department of Marketing University of Texas at Arlington CHARLES W. LAMB MJ. Neeley School of Business Texas Christian University JOSEPH F. HAIR, JR. Department of Marketing Kennesaw State
More informationMarketing: Helping Buyers Buy
Chapter Thirteen Marketing: Helping Buyers Buy WHAT S MARKETING? What is Marketing? Marketing -- The activity, set of institutions and processes for creating, communicating, delivering, and exchanging
More informationMARKETING Understand buying behaviors.
MARKETING 3.02 Understand buying behaviors. Marketing Strategy A marketing strategy provides vital information on how a business will meet its goals of satisfying customers that will result in making sales
More informationPrinciples of Marketing Global Edition
Principles of Marketing Global Edition Kotler and Armstrong Chapter 1: Marketing Creating Customer Value and Engagement Copyright 2016 Pearson Education, Inc. 1-1 Marketing: Creating Customer Value and
More informationCONTENTS CHAPTER ONE STRATEGIC BUSINESS PLANNING
CONTENTS CHAPTER ONE STRATEGIC BUSINESS PLANNING Preview 1 About this topic 1 Topic objectives 1 1. Strategic Planning Overview 2 1.1 Why is strategic planning important? 2 1.2 What is strategic planning?
More informationREPERTORY OF VOCATIONAL QUALIFICATIONS INTERNATIONAL MARKETING MANAGER
REPERTORY OF VOCATIONAL QUALIFICATIONS EQF Level 6 Short description of the qualification and the activities INTERNATIONAL MARKETING MANAGER The International Marketing Manager is an expert in SME internationalization
More informationINFORMATION SHEET DIPLOMA IN DIGITAL MEDIA DESIGN DDM DIGITAL ADVERTISING DESIGN 3.0 SEGMENTATION, TARGETING & MARKETING MIX
INFORMATION SHEET COURSE : DIPLOMA IN DIGITAL MEDIA DESIGN SESSION : JAN - JUN 2010 SEMESTER : 4 CODE/SUBJECT : DDM 4333 - DIGITAL ADVERTISING DESIGN SHEET NO : 5 LECTURER : AHMAD KAMSOL BIN MAT YUSOP
More informationChapter 1 Marketing: Creating and Capturing Customer Value
i t s good and good for you Chapter 1 Marketing: Creating and Capturing Customer Value Copyright 2012 Pearson Education, Inc. Publishing as Prentice Hall 1-1 Creating and Capturing Customer Value GOAL
More informationBranding as a Competitive Edge for MSME. A presentation to OVOP Malawi By. Tom Owuor
Branding as a Competitive Edge for MSME A presentation to OVOP Malawi By. Tom Owuor 2 A world without marketing? What is Marketing? American Marketing Association: Marketing is the activity, set of institutions,
More informationMODULE 5 SELLING IDEAS. Wake up your customer
"Funded by the Erasmus+ Program of the European Union. However, European Commission and Turkish National Agency cannot be held responsible for any use which may be made of the information contained therein.
More informationSection 10.1 Introduction to Marketing
10 Marketing Section 10.1 Introduction to Marketing Objectives Describe marketing and its focus on the customer. Explain marketing strategies. Essential Question How can marketing contribute to the success
More informationIntroduction to. marketing. theory and practice. Second edition. Adrian Palmer OXFORD UNIVERSITY PRESS
Introduction to marketing theory and practice Second edition Adrian Palmer OXFORD UNIVERSITY PRESS Preface Acknowledgments Guided tour of the textbook features v vii viii Marketing: the fundamentals 1
More informationJudge Assessment. Oregon Region: OR Fri Jul :26 PM
Accounting Applications Series Composite Score 75.00 out of 100 International 67.63 out of 100 Role Play 1 88.33 out of 100 International 74.30 out of 100 Explain the nature of accounts receivable. 14.67
More informationMarketing Flash Cards
Marketing Flash Cards Chapter 1 3 benefits of marketing 1. New and Improved Products 2. Lower Prices 3. Added Value and Utility 5 utilities form, place, time, possession, and information channel management
More informationFinancial Services: Maximize Revenue with Better Marketing Data. Marketing Data Solutions for the Financial Services Industry
Financial Services: Maximize Revenue with Better Marketing Data Marketing Data Solutions for the Financial Services Industry DataMentors, LLC April 2014 1 Financial Services: Maximize Revenue with Better
More informationChapter: Chapter 02: Making Human Resource Management Strategic
Chapter: Chapter 02: Making Human Resource Management Strategic True/False 1. A clear strategy for being better than competitors and a highly motivated workforce are major keys for long term profitability.
More informationCHAPTER 1 INTRODUCTION TO ENTREPRENEURSHIP. By: Engr. Muhammad Muizz Bin Mohd Nawawi
CHAPTER 1 INTRODUCTION TO ENTREPRENEURSHIP By: Engr. Muhammad Muizz Bin Mohd Nawawi DEFINITION OF ENTREPRENEURS The word "entrepreneur" comes from the French word, 'entreprendre', which means to undertake
More informationOpportunity Analysis, Market Segmentation & Market Targeting
Opportunity Analysis, Market Segmentation & Market Targeting Where to Find Opportunities Trends Directions or sequences of events that have some momentum & durability. Megatrends Large, slowly forming
More informationNICHE MARKETING: AN OVERVIEW
NICHE MARKETING: AN OVERVIEW * Mr. Shaikh Ateeque, Assistant Professor, Millennium Institute of Management, Aurangabad. INTRODUCTION: Niche markets are an attractive opportunity available to small businesses
More informationMarketing Data Solutions for the Financial Services Industry
Marketing Data Solutions for the Financial Services Industry Maximize your revenue with better data. Publication Date: July, 2015 www.datamentors.com info@datamentors.com 01. Maximize Revenue with Better
More informationHS Marketing Concepts Business and Technology
Course Marketing Concepts is an instructional program designed for students who are interested in a career in the field of marketing and management. This course includes instructional areas designed to
More informationBeyond Design. By Sandra J. Keiser and Myrna B. Garner. PowerPoint developed by Elizabeth Law
Beyond Design By Sandra J. Keiser and Myrna B. Garner PowerPoint developed by Elizabeth Law Copyright 2009 Fairchild Books All rights reserved. No part of this presentation covered by the copyright hereon
More informationCHAPTER 1: INTRO TO INTEGRATED MARKETING COMMUNICATIONS
CHAPTER 1: INTRO TO INTEGRATED MARKETING COMMUNICATIONS THE ROLE OF MARKETING Marketing: Activity, set of institutions, and processes for creating, communicating, delivering and exchanging offerings that
More informationB.E. Publishing Correlation to Principles of Marketing to Precision Exams: Marketing I (401)
B.E. Publishing Correlation to Principles of Marketing to Precision Exams: Marketing I (401) DESCRIPTION Marketing I explores the seven core functions of marketing which include: Marketing Planning why
More informationThe Changing Marketing Environment 2-1
The Changing Marketing Environment 2-1 Chapter Goals To gain an understanding of: The concept of environmental scanning. How external forces influence a firm s marketing program: Demography, economics,
More informationContents. Part- I: Introduction to Consumer Behavior. Chapter 1 Consumer Research Chapter 2 Segmenting Consumers 22-40
Contents Preface Part- I: Introduction to Consumer Behavior Chapter 1 Consumer Research 3-21 Chapter 2 Segmenting Consumers 22-40 Part - II: Consumer as an Individual Chapter 3 Motivation 43-66 Chapter
More informationCHAPTER - V SUGGESTIONS, RECOMMENDATIONS AND CONCLUSION
CHAPTER - V SUGGESTIONS, RECOMMENDATIONS AND CONCLUSION CHAPTER V SUGGESTIONS, RECOMMENDATIONS AND CONCLUSION In the previous chapter, the researcher has given the findings of the analysis of effectiveness
More informationDatabase and Direct Response Marketing
Database and Direct Response Marketing Chapter 11 11-1 Chapter Objectives 1. How can a marketing team match a database program with an IMC program? 2. What is meant by database-driven marketing communications?
More informationLeveraging Patron Loyalty to Increase Sales, Donations & Public Perception by Margaret Williams & Dale Hedding
Leveraging Patron Loyalty to Increase Sales, Donations & Public Perception by Margaret Williams & Dale Hedding In recent years, the phrase "patron loyalty" has become a hot topic across the arts and culture
More informationTopic 1: MMK266 Summary Notes. What is Consumer Behaviour? CONSUMER BEHAVIOUR SUMMARY NOTES
MMK266 Summary Notes Topic 1: What is Consumer Behaviour? Consumer behaviour: Consumer behaviour is defined as the behaviour that consumers undertake in searching for, purchasing, using, evaluating and
More informationICMI PROFESSIONAL CERTIFICATION
ICMI PROFESSIONAL CERTIFICATION Contact Center Management Competencies The ICMI Professional Certification Contact Center Management Competencies specify job role-specific knowledge, skills and abilities
More informationGlobal Marketing. Contemporary Theory, Practice, and Cases. By Ilan Alon, Eugene Jaffe, Christiane Prange, and Donata Vianelli. Taylor & Francis 2016
Global Marketing Contemporary Theory, Practice, and Cases By Ilan Alon, Eugene Jaffe, Christiane Prange, and Donata Vianelli Chapter 9 Segmenting, Targeting, and Positioning for Global Markets Learning
More informationCustomers, Segmentation, and Target Marketing
C H A P T E R 5 Customers, Segmentation, and Target Marketing Segmentation and Target Marketing n Concerned with the individuals, institutions, or groups of individuals or institutions that have similar
More informationMarketing I DESCRIPTION. EXAM INFORMATION Items
EXAM INFORMATION Items 44 Points 73 Prerequisites NONE Grade Level 10-12 Course Length ONE SEMESTER Career Cluster HOSPITALITY & TOURISM MARKETING DESCRIPTION Marketing I explores the seven core functions
More informationMarketing I DESCRIPTION. EXAM INFORMATION Items
EXAM INFORMATION Items 44 Points 73 Prerequisites NONE Grade Level 10-12 Course Length ONE SEMESTER Career Cluster HOSPITALITY & TOURISM MARKETING DESCRIPTION Marketing I explores the seven core functions
More informationPost Graduate Certificate in Management (PGDM)- Marketing
Post Graduate Certificate in Management (PGDM)- Marketing Programme Structure Module 1 MM01 - Marketing Management MM07 - Consumer Behavior MM02 - Sales and Distribution Management MM03 - Advertising &
More informationMarketing Analytics II
Stephan Sorger 2015: www.stephansorger.com; Marketing Analytics: Sales: 1 Marketing Analytics II Chapter 11: Sales Analytics Stephan Sorger www.stephansorger.com Disclaimer: All images such as logos, photos,
More informationMarketing I DESCRIPTION. EXAM INFORMATION Items
EXAM INFORMATION Items 44 Points 73 Prerequisites NONE Course Length ONE SEMESTER Career Cluster HOSPITALITY & TOURISM MARKETING Performance Standards INCLUDED DESCRIPTION explores the seven core functions
More informationCompiled by: Shubhanshi Gaudani 1. Marketing Mix: Four marketing decisions needed for effective marketing of the product
Compiled by: Shubhanshi Gaudani 1 3. Marketing 3.3 Marketing Mix Business Studies, CIE IGCSE (0450) Marketing Mix: Four marketing decisions needed for effective marketing of the product Four Ps: The right
More informationPERSONAL SELLING (PART-3) PRODUCT KNOWLEDGE
PERSONAL SELLING (PART-3) PRODUCT KNOWLEDGE 1. INTRODUCTION Hello students, Welcome to the series on personal selling. Today we are going to study about Product knowledge in personal selling. Definition
More informationADVERTISING MANAGEMENT. Chapter 5
ADVERTISING MANAGEMENT Chapter 5 CHAPTER OBJECTIVES 1. What activities are involved in adver tising management? 2. What roles do the company s overall mission, products, and ser vices play in adver tising
More informationA TWELVE-STAGE CRM PLANNING STRATEGY
3-02-71 INFORMATION MANAGEMENT: STRATEGY, SYSTEMS, AND TECHNOLOGY A TWELVE-STAGE CRM PLANNING STRATEGY Duane E. Sharp INSIDE A Twelve-Stage CRM Strategy; Applying the CRM Strategy; Maximizing Individual
More informationCourse Syllabus For Marketing and International Trade Department
For Marketing and International Trade Department School Year First Year Third year Third year Third year Name of course Introduction to marketing Marketing Management International commerce Negotiation
More informationOUR GUIDING PRINCIPLES
OUR GUIDING PRINCIPLES For some 50 years, the Green Bulletin series described the way John Deere conducted business and put its values into practice. The bulletins served as guides for the judgments and
More informationChapter 3 Media Planning
Chapter 3 Media Planning 1 Learning Objective To understand the role of media manager To understand the current scenario and challenges in media planning To understand various media assignments- with clients,
More informationChapter 9 STRATEGIC BRAND MANAGEMENT
Chapter 9 STRATEGIC BRAND MANAGEMENT Challenges in Building Strong Brands Strategic Brand Analysis Brand Identity ty Strategies es Managing Products/Brands Managing the Brand Portfolio 1 CHALLENGES IN
More informationLearning Objectives. STA 473 Business Management. Marketing. The Eight Functions of Marketing. Introduction to Business Management
Learning Objectives STA 473 Business Management Chapter 9 Marketing: Product and Price Chukiat Worasucheep Define marketing and its eight functions. Understand market segmentation and name the types of
More informationHow to enable revenue growth in the digital age
14 Turning chaos into cash How to enable revenue growth in the digital age The role that technology can play in enabling revenue growth in the digital age All commercial businesses face continuous pressures
More informationMarketing and Communicating With Your Customer. Dr. Maria Marshall Department of Agricultural Economics
Marketing and Communicating With Your Customer Dr. Maria Marshall Department of Agricultural Economics The 4 Ps of Marketing What Is Marketing The process of creating and delivering desired goods and services
More informationNDIS: Marketing Your Competitive Edge
A significant planned outcome for the introduction of the National Disability Insurance Scheme (NDIS) is to develop a national competitive market for the provision of disability supports. This increasingly
More informationTable of Contents. Introduction: Leading & Sustainable Retailing NSLC Strategic Planning Approach... 2
F i v e - y e a r s t r a t e g i c p l a n 2 0 1 0 2 0 1 5 Table of Contents Introduction: Leading & Sustainable Retailing... 1 NSLC Strategic Planning Approach... 2 Key Trends as Drivers for Change...
More informationMedia Today, 6 th Edition. Chapter Recaps & Study Guide
1 Media Today, 6 th Edition Chapter Recaps & Study Guide Chapter 4: Financing and Shaping the Media: Advertising, Public Relations, and Marketing Communications This chapter explores how advertising, public
More informationDefining Marketing for the 21st Century
1 1 Defining Marketing for the 21st Century Introduction 1-2 ١ 20 words (concepts) in Marketing (5 mints) Chapter Questions Why is marketing important? What is the scope of marketing? What are some fundamental
More informationMachine learning mechanisms in modern Omnichannel marketing and sales.
Machine learning mechanisms in modern Omnichannel marketing and sales. Currently, companies operating in retail must face a very competitive market. They very often set their goal at gaining a high number
More information360 Degree View Of The Customer: Integrating Transactional And Research Data Into Customer Segments
360 Degree View Of The Customer: Integrating Transactional And Research Data Into Customer Segments 360 Degree View of the Customer: Integrating Transactional and Research Data into Customer Segments Background
More informationThe Impact of Proper Marketing Communication Channels on Consumer s Behavior and Segmentation Consumers
The Impact of Proper Marketing Communication Channels on Consumer s Behavior and Segmentation Consumers Tan Kai Hun 1, Rashad Yazdanifard 2 1 Center of Southern New Hampshire University Programs, HELP
More informationSYLLABUS - MARKETING LEADERSHIP AND PLANNING (20 credits)
Chartered Postgraduate Diploma in Marketing (Level 7) SYLLABUS - MARKETING LEADERSHIP AND PLANNING (20 credits) Total Qualification Time: 200 Hours The purpose of this unit is to enable students to develop
More informationService Operations (SO) Post Graduate Program for Working Executives Week 3
Operations (SO) Post Graduate Program for Working Executives 2014-15 Week 3 Vinay Kumar Kalakbandi Assistant Professor Operations & Systems Area 09/11/2014 Vinay Kalakbandi 1 This week on Operations Recap
More informationIdaho Marketing Standards and Learning Indicators
Idaho Standards and s Mktg_1.1 Mktg_1.1.1 Mktg_1.1.2 Mktg_1.1.3 Mktg_1.1.4 Mktg_1.1.5 Mktg_1.1.6 Mktg_1.1.7 Mktg_1.1.8 Mktg_2.1 Mktg_1: Demonstrate Knowledge of Roles Identify the roles of marketing and
More informationCompetency Model. Level B. Level C Applies to: Manager Coordinator. Applies to: Assistant Vice President Assistant Dean Director
Job Knowledge a. Demonstrates detailed knowledge of FIT programs, products and services in independently carrying out varied professional duties. a. Uses thorough knowledge of the range of FIT products,
More informationFOR MORE PAPERS LOGON TO
MGT301 - Principles of Marketing When Olympia Carpets develops new carpets that are highly stain resistant and durable, it must educate consumers about the product's benefits. This activity calls for which
More informationWhy Conduct a Consumer Survey?
Why Conduct a Consumer Survey? Because informed decision-making produces better results RKM Research and Communications, Inc., Portsmouth, NH. All Rights Reserved. Executive summary This paper discusses
More informationTotal Test Questions: 44 Levels: Grades Units of Credit:.50
DESCRIPTION Marketing I explores the seven core functions of marketing which include: Marketing Planning why target market and industry affects businesses; Marketing-Information Management why market research
More informationChapter 1 Marketing: Creating and Capturing Customer Value
i t s good and good for you LECTURE 1 Chapter 1 Marketing: Creating and Capturing Customer Value Creating and Capturing Customer Value Topic Outline What Is Marketing? Understand the Marketplace and Customer
More informationMARKETING: BUILDING PROFITABLE CUSTOMER CONNECTIONS BUSN11, CHAPTER 11
MARKETING: BUILDING PROFITABLE CUSTOMER CONNECTIONS BUSN11, CHAPTER 11 Getting Value by Giving Value 11-1 Marketing: the activity, set of institutions, and processes for creating, communicating, delivering,
More informationProducts, Services, and Brands
Principles of Marketing Global Edition Kotler and Armstrong Chapter 8: Products, Services, and Brands Building Customer Value Copyright 2016 Pearson Education, Inc. 8-1 Products, Services, and Brands Copyright
More informationCHAPTER 2 CORPORATE, BUSINESS AND MARKETING STRATEGY CORPORATE, BUSINESS AND MARKETING STRATEGY
2-1 CHAPTER 2 CORPORATE, BUSINESS AND MARKETING STRATEGY Corporate Business and marketing Marketing process Internet Preparing the marketing plan 1 CORPORATE, BUSINESS AND MARKETING STRATEGY 2-2 2 1 Components
More informationMarketing Management. PhiLip. Kevin Lane. Mairead. MalcoLm. forben. Prentice Hall PEARSON
PhiLip Kevin Lane Mairead MalcoLm forben Marketing Management PEARSON Prentice Hall Harlow, England London New York Boston San Francisco Toronto Sydney Singapore Hong Kon Tokyo Seoul Taipei New Delhi Cape
More informationPrinciples Of Marketing _ MGT 301. Lesson 18
Lesson 18 Lesson overview and learning objectives: In last Lesson we studied the segmentation to day we will continue the same topic and market targeting, and market positioning MARKET SEGMENTATION (CONTINUED)
More informationTrends In Consumer Research Space
Trends In Consumer Research Space The Desi Backdrop India is expected to be one of THE TOP THREE economic powers of the world India has emerged as the fastest growing major economy in the world and is
More informationConsumerView SM. Insight on more than 299 million consumers and 116 million households to improve your marketing campaigns
ConsumerView SM Insight on more than 299 million consumers and 116 million households to improve your marketing campaigns Learn how Experian s ConsumerView SM database enables better segmentation for brands
More information