Benefits - Product, Services, Personnel, Image, etc.

Cost - Monetary, time, energy, psych. costs

Intensive Growth - mkt penetration, mkt developement, diversification

Integrative - backward or forward, horizontal integration

Diversification - Integrating vs Starting something New

Define (The Problem)

Develop (Research Plan)

Collect (The Information)

Analyze (The Information)

Present (The Findings)

Decide

Exploratory

Descriptive

Causal

First Hand vs Second Hand

Primary        Secondary

Qualitative

vs

Quantitative

Characteristics

Numbers

the total volume that would be bought by a defined customer group in a defined geographical area in a defined time period in a defined marketing environment under a defined marketing program.

Voice of Customer

Many firms are in the beginning stages

Customer Relationship Management

process of managing detailed information about individual customer and carefully managing all customers "touch points" to maximize customer loyalty

CRM

(STEPS)

1. Identify

2. Differentiate

3. Interact

4. Customize

Problem Recognition (I need Something)

Information Search -> Total Awareness(What is out there)

Alternative Evaluation -> Consideration Set to Choice Set (Of What is out there what do I want)

Purchase Decision -> Decision (What am I gonna buy)

Post purchase behavior (am I happy with my choice, will I choose that again)

Organizations That

1) Aquire Goods and Services

2) Used in the production of other products or services

3) that are sold rented or supplied to others

Companies

Fewer, larger buyers

Close supplier-customer relationships

Professional purchasing

Geographically concentrated buyers

Many buying influences-buying center

Multiple sales calls

Direct purchasing

Demand

Derived Demand

Inelastic Demand

Fluctuating Demand

All individuals / groups participating in the purchasing decision making process

INITIATORS:Users or others requesting something be purchased

USERS:  of the product or service

INFLUENCERS:  Define specs, evaluate alternatives, cross functional team

DECIDERS:  decide on requirements and/or suppliers

APPROVERS:  authorize proposed actions of deciders or buyers

BUYERS:  formal authority to select supplier; arrange terms

GATEKEEPERS:  Prevent access to members of the buying center

Segments

Local Areas

Niches

Individuals

Demographics

age, gender, life stage, income, generation, social class

Psychographics

lifestyle, personality traits, values

Geographics

region, city size, density, climate

Behavioral

buyers response towards the product

Values, Attitude, and Life-Style

Psychographic Segmentation

(Innovators, Thinkers, Believers, Achievers, Strivers, Experiencers, Makers, Survivors)

Measurable

Substantial

Accessable

Differentiable

Actionable

Needs-Based(what the customer is looking for)

Segment Identified (Who is the segment?)

Segment Attractive (Is is a good segment? such as market growth, competitive intensity, and market access )

Segment Profitable (Is this segment potentially profitable)

Segment Positioning (Value Proposition)

Segment Acid Test (test attractiveness)

Marketing Tactics (4Ps)

1. Problem Recognition

2. General Need Description

3. Product Specification

4. Supplier Search

5. Proposal Solicitation

6. Supplier Selection

7. Order-routine specification

8. Performance Review

Product on one access

Segments on the other

Who are we targeting?

Vertical Axis (Consumer)

Slam on Brakes, Patient but Pained, Comfortably Well-Off, Live for Today

Horizontal Access (Products)

Essentials, Treats, Postponables, Expendables

Creating value above and beyond the functional value of the offering

Brand equity is reflected in how the customers THINK, FEEL, ACT, with respect to THE BRAND

Brand Equity comands higher prices, market share, and profitability

Money Spend on branding should result in profits

Brand Knowledge -> Differences in Consumer Response -> Brand Equity

If there are no differences then the product is a commodity

Name, term, sign, symbol, or design, or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors.

1. assigns responsibility of performance to an entity (the brand)

2. Simplifies Decision Making

3. Reduces Risk

Links the marketors past to his future

(consists of brand promis, brand knowledge, and consumer differentiated response)

Brand elements ( brand names, URLs, logos, symbols, characters, spokespeople, slogans, jingles, packages, and signage)

Product / Service

Other Associations

(Offensive) Likeable, Meaningful, Memorable

(Defensive) Transferrable, Protectable, Adaptable

From brand promise to brand equity

Marketing Communications (Brand Promise)

Brand Equity (Brand Awareness, Brand Image, Brand Response, Brand Relationships)

Link the brand to other information in memory that conveys meaning to consumers

ex (Nike Air Jordans)

Brand Reinforcement

Brand Revitalization

Branding New Products

House of Brands

V

Branded House

Having different brands for all your products/ services

Volkswagon

v

Linking all of your products and services to one brand name

GE

Marketing Program Investment

(program multiplier)

Brand Awareness

(customer multiplier)

Brand Performance

(market multiplier)

Shareholder Value

the act of designing the companies offering and image o occupy a distinctive place in the minds of the target market

Good brand positioning helps clarigy marketing strategy, and creates a customer based value proposition

Take into consideration:

Target Market

The Competition:

Points of Parity

Points of Difference

Taking into account what the consumers needs and wants are and looking at what your competitors off and builing your product and brand around that

(consider consumer behavior)

Competitive advantage is a company’s ability to perform in one or more ways that competitors can’t or won’t match.  To endure, companies must continue to invent competitive advantage. 

(This advantage must be valued by the consumers)

Form/Size/Shape/Style

Mass Customization

Performance Quality

Conformance Quality

Durability

Reliability

Repairability

Service before & after sales

Easy to do business

Delivery Speed

Installation

Training

Consulting

Maintence/ Repair

Returns

Our (product) is (single most important claim) among all (competitive frame) because (single most important support)

The model is: For (target market) (brand name)  is the ( product/service description) that (benefit) because it has (reason why.)

Delighted

Satisfied

Dissatisfied

Product > Expectation

Product = Expectation

Product < Expectation

Functional (clues as to what the product can do)

Mechanic (clues that get you in the store)

Humanic (clues that lead to perceptions of customer service)