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Marketing Creating and Capturing Customer Value

1. Marketing Creating and Capturing Customer Value. Do Now. Teacher’s Outbox – Unit 1 Open Exercise and Notes – 4Ps Complete the “do now”. Think of a product you bought recently – and answer the questions. Today’s Objectives.

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Marketing Creating and Capturing Customer Value

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  1. 1 Marketing Creating and Capturing Customer Value

  2. Do Now Teacher’s Outbox – Unit 1 Open Exercise and Notes – 4Ps Complete the “do now”. Think of a product you bought recently – and answer the questions.

  3. Today’s Objectives Now that you have a target market and value prop – what do we do next? Or….. How to build a marketing program.

  4. Get Ready to Take Notes Teacher’s Outbox Unit 1 - Basics Exercise and Notes – Markets and Market Segments SAVE! as filename – your name

  5. 5 Stage Marketing Process

  6. What is our Marketing Program? A marketing program is the activities we do to deliver our value proposition to the target market and acquire customer relationships.

  7. Marketing Mix: The Four P’s

  8. Pair Individually come up with an example of the 4 Ps using a familiar product.

  9. Share Swap ideas with your desk partner.

  10. “Product” • Combination of: • Product • Services • Experiences • That satisfy the target customer’s needs and wants. Also known as “Market Offering” or Your Offering

  11. Form three person teams Need to be working on adjacent PCs. 1 Minute Music

  12. Case Study – In Out Burger In Out Burger

  13. Project Open: Project – 4 Ps template (Power Point) Each person researches how one of the three burger chains uses the 4 Ps. At least one page per P. You will be presenting to your team – so make it good! SAVE AS – file name – your name

  14. Compare Marketing Mixes Each team member presents their findings. Take notes on each company for your final comparison.

  15. Your Analysis • What are the key differences between the three competitors in how they use the 4Ps? Explain each “P”. • Take one company. How does its 4 Ps reflect that company’s target market and value prop?

  16. Take Aways • Next stage in marketing process is to develop a marketing program to deliver on your value prop and acquire customers. • The program consists of activities designed to acquire customers – usually called the marketing mix. • The 4 elements of the marketing mix are product, price, promotion and place – the 4 Ps.

  17. Take Aways • The marketing mix reflects the company’s target market and value prop. • Each P in the marketing mix fits together. For example…..

  18. McD’s • McD’s target market is lower/middle income families that need a quick meal. Broad menu, low price and value meals appeal to frequent users.

  19. Five Guys • Five Guys is built for burger connoisseurs. Sit down, more expensive, dining experience. High prices. Can’t afford broad advertising. Small # of stores vs. McD’s.

  20. In Out • Targets nostalgic burger fans. Simple menu, basic stores with drive thru. Deliberately “retro”. Local California brand. Uses cheap consumer generated advertising (e.g. T shirts).

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