Developing Marketing Developing Marketing StrategiesStrategies

Chapter 7Chapter 7

Marketing ConceptMarketing Concept

Three orientationsThree orientations CustomerCustomer GoalsGoals SystemSystem

Meeting Customer NeedsMeeting Customer Needs

Implementing the Marketing Implementing the Marketing ConceptConcept

Implementing the ConceptImplementing the Concept Be conscious of imageBe conscious of image Practice consumerismPractice consumerism Look for danger signalsLook for danger signals

Competitive EdgeCompetitive Edge E-commerceE-commerce

Marketing ResearchMarketing Research

Review of definitionReview of definition How does it help?How does it help? Performing Market ResearchPerforming Market Research

Define problemDefine problem Gathering and evaluatingGathering and evaluating

Secondary informationSecondary information Primary researchPrimary research InternetInternet DatabasesDatabases

Developing a StrategyDeveloping a Strategy

Setting ObjectivesSetting Objectives Choosing Target MarketsChoosing Target Markets

Market SegmentationMarket Segmentation Demographic trendsDemographic trends

Using the Marketing MixUsing the Marketing Mix

Product Life CycleProduct Life Cycle

IntroductionIntroduction GrowthGrowth MaturityMaturity DeclineDecline

Diversification of product lineDiversification of product line

PackagingPackaging

What does it do?What does it do?

Why is it important?Why is it important?

Price PoliciesPrice Policies

Effect of Life CycleEffect of Life Cycle Price skimmingPrice skimming Penetration pricingPenetration pricing

Meet CompetitionMeet Competition Cost-oriented PricingCost-oriented Pricing

Mark upsMark ups DiscountsDiscounts AllowancesAllowances

Setting PricesSetting Prices

Service firmsService firms RetailersRetailers

Unit pricingUnit pricing Loss leadersLoss leaders

WholesalersWholesalers ProducersProducers Building ContractorBuilding Contractor

Other considerationsOther considerations

Services MarketingServices Marketing

Two typesTwo types PersonalPersonal BusinessBusiness

4 I’s of service4 I’s of service IntangibilityIntangibility InconsistencyInconsistency InseparabilityInseparability InventoryInventory

Services MarketingServices Marketing

Type of contactType of contact HighHigh LowLow

Application of Marketing ConceptApplication of Marketing Concept PricingPricing PromotingPromoting

Marketing through Product Life Marketing through Product Life CycleCycle

IntroductionIntroduction Analyze market situationsAnalyze market situations Fit product to marketFit product to market Evaluate company resourcesEvaluate company resources

GrowthGrowth Expand products to new marketsExpand products to new markets Increase penetrationIncrease penetration No innovationNo innovation