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Chapter 13 Dimensions of Marketing Strategy Asst. Prof. Dr. Serdar AYAN

Chapter 13 Dimensions of Marketing Strategy Asst. Prof. Dr. Serdar AYAN. 1. The Marketing Mix. Key to developing marketing strategy Maintain right mix satisfy target market Long-term customer relations. Competitive Advantage. Dimension of value surpassing all others : Wal-Mart – price

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Chapter 13 Dimensions of Marketing Strategy Asst. Prof. Dr. Serdar AYAN

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  1. Chapter 13 Dimensions of Marketing Strategy Asst. Prof. Dr. Serdar AYAN 1

  2. The Marketing Mix Key to developing marketing strategy Maintain right mix satisfy target market Long-term customer relations Competitive Advantage Dimension of value surpassing all others: • Wal-Mart – price • Procter & Gamble – top consumer brands • Domino’s Pizza – distribution via home delivery

  3. Developing New Products – Multi-step process Idea development Screening of new ideas Business analysis Product development Test marketing Commercialization Product Strategy

  4. Test marketing – a trial mini-launch of a new product in limited areas that represent the potential market. Product Development Commercialization – The full introduction of a complete marketing strategy and the launch of the product for commercial success.

  5. Classifying Products Consumer Products • Convenience products • Shopping products • Specialty products • Business Products • Raw materials • Major equipment • Accessory equipment • Component parts • Processed materials • Industrial services

  6. Product line– Group of closely related products that are treated as a unit because of a similar marketing strategy, production, or end-use Product Mix – All the products offered by the company Marketing Mix

  7. Product Life-Cycle The Life Cycle of a Product

  8. Product Life Cycle 45 years of strong sales – Mattel’s Barbie doll’s life cycle is waning. Today, edgier dolls like Bratz dolls give Barbie a run for her money.

  9. Branding The Most Valuable Brands in the World Identifying Products

  10. Brands Manufacturer brands – initiated and owned by the manufacturer to identify products from production to point of purchase. Private distributor brands – cost less than manufacturer brands; owned and controlled by wholesaler or retailer Generic brands – no brand name often come in simple packages and carry their generic name.

  11. Packaging External container holds & describes the product: Protection Economy Convenience Promotion

  12. Product Quality Product quality -- Degree to which a good, service, or idea meets the demands and requirements of customers

  13. Pricing Strategies New Product Pricing Price skimming Penetration pricing Psychological Pricing Odd/Even Prestige pricing Price Discounting Quantity discounts Seasonal discount Promotional discounts

  14. Distribution Strategies Marketing Channels Retailers (Wal-Mart, Sears) Wholesalers (food brokers to restaurants) E-tailers (Amazon.com) Physical distribution -- includes all the activities necessary to move products from producers to customers. Inventory control Transportation Warehousing Materials handling

  15. Retailers

  16. Promotion Strategy • Promotion mix • Advertising • Personal selling • Publicity • Sales promotion • Integrated marketing communications • The process of coordinating the promotion mix elements and synchronizing promotion as a unified effort

  17. Personal Selling • Direct, two-way communication with sellers & potential buyers • Prospecting • Approaching • Presenting • Handling objections • Closing – asking for the order • Following up

  18. Promotion Strategies: To Push or Pull

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