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Marketing MKT Summary Book PRINCIPLES OF MARKETING Philip Kotler Gary Armstrong CHAPTER 1 What is marketing?

? It is NOT abo t sells! The tool Mar"eting ses is the PRODUCT The # stomer o$ Mar"eting is the CONSUMER It in%ol%es the analysis in or&er to $in& o t 'hat to ma"e to satis$y the nee&s o$ the #ons mer Managing pro$itable # stomer relationships Attra#t ne' # stomers by promising s perior %al e an& to "eep an& gro' # rrent # stomers by &eli%ering satis$a#tion! Capt ring the #ons mers attention DEFINITION OF MARKETING a( Mar"eting is the pro#ess by 'hi#h #ompanies #reate %al e $or # stomers an& b il& strong # stomer relationships in or&er to #apt re %al e $rom # stomers in ret rn! b( Mar"eting is the reali)ation o$ organi)ational ob*e#ti%es by $ l$illing # stomer nee&s! Nee!s are states o$ &epri%ation+ , Physi#al $oo&- #lothing- sa$ety , So#ial belonging an& a$$e#tion , In&i%i& al Kno'le&ge an& sel$,e.pression Wants are $orms h man nee&s ta"e as shape& by # lt re an& in&i%i& al personality+ , it is more abo t /O0R o'n #hoi#e , b il& nee&s , E.ample+ An Ameri#an NEE1s $oo& b t 2ANTS a 3ig Ma#! Deman!s are h man 'ants that are ba#"e& b ying po'er+ , 2ants be#ome &eman&s i$ b ying po'er is a&&e& 42ants 5 3 ying Po'er 6 1eman&( Cons mer7s nee&s an& 'ants are $ l$ille& thro gh a marketing o""ering# C stomer &ri%en mar"eting strategy+ , 'ho is o r # stomer8 , 9o' #an 'e best ser%e these # stomers8 , 2hat is o r %al e proposition o Feat res abo t the pro& #t 'hi#h the # stomer 'ill be a'are o$ o 3 ilt e.pe#tations Markets Mar"et means the set o$ all a#t al an& potential b yers o$ a pro& #t or ser%i#e! These b yers share a parti# lar nee& or 'ant that #an be satis$ie& thro gh e.#hange relationships! Company Mar"eting En& ser Mar"eter S ppliers Interme&iariess mar"et Competitors

In being able to trans$orm the mar"eting strategy into a#tion a #onstr #t mar"eting program that &eli%ers s perior %al e nee&s to be establishe&! Also b il&ing pro$itable relationships an& #reating # stomer &elight is important in &oing s ##ess$ l mar"eting+ Per$orman#e o$ the pro& #t Per$orman#e o$ the pro& #t Per$orman#e o$ the pro& #t : ; 6 e.pe#tations e.pe#tations e.pe#tations 1issatis$a#tion 1elight Satis$a#tion

Designing a $ustomer Dri%en Marketing strategy Marketing Management The art an& s#ien#e o$ #hoosing target mar"ets an& b il&ing pro$itable relationships 'ith them! < estions that nee& to be ans'ere& are $or e.ample+ , 2hat # stomers 'ill 'e ser%e8 , 2hat is o r target mar"et8 , 9o' #an 'e best ser%e these # stomers8 , 2hat is o r %al e proposition8 41i$$erentiation an& Positioning in the mar"etpla#e( Marketing Management Orientations 1. The Production Concept: The i&ea that #ons mers 'ill $a%or pro& #ts- that are a%ailable an& highly a$$or&able an& that the organi)ation sho l& there$ore $o# s on impro%ing pro& #tion an& &istrib tion e$$i#ien#y! 2. The Product Concept: The i&ea that #ons mers 'ill $a%or pro& #ts- that o$$er the most = ality- per$orman#e- an& $eat res an& that the organi)ation sho l& there$ore &e%ote its energy to ma"ing #ontin o s pro& #t impro%ements! 3. The Se ing Concept: The i&ea that #ons mers 'ill not b y eno gh o$ the $irm7s pro& #ts- nless it n&erta"es a large,s#ale selling an& promotion e$$ort! !. The Marketing Concept: The mar"eting management philosophy- that a#hie%ing organi)ational goals &epen&s on "no'ing the nee&s an& 'ants o$ target mar"ets an& &eli%ering the &esire& satis$a#tions better than #ompetitors! >The *ob is not to $in& the right #ost mers $or yo r pro& #t- b t to $in& the right pro& #ts $or yo r # stomers? ". The Societa Marketing Concept A prin#iple o$ enlightene& mar"eting that hol&s that a #ompany sho l& ma"e goo& mar"eting &e#isions by #onsi&ering #ons mers7 'ants- the #ompany7s re= irements- #ons mers7 long, r n interests an& so#iety7s long,r n interests!

$ustomer Re&ationshi' Management It means the o%erall pro#ess o$ b il&ing an& maintaining pro$itable # stomer relationships by &eli%ering s perior # stomer %al e an& satis$a#tion! $ustomer (er)ei%e! *a&ue It means the # stomer7s e%al ation o$ the &i$$eren#e bet'een all the bene$its an& all the #osts o$ a mar"et o$$ering relati%e to those o$ #ompeting o$$ers! Cons mers ma"e b ying #hoi#es base& pon their per#eptions o$ the %al e that %ario s pro& #ts an& ser%i#es &eli%er! The # stomer7s %al e is base& pon the #ons mer7s assessment o$ the pro& #t7s o%erall #apa#ity to satis$y his or her nee&s! $ustomer Satis"a)tion It means the e.tent to 'hi#h a pro& #t7s per#ei%e& per$orman#e mat#hes a b yer7s e.pe#tations! To one e.treme- #ompanies 'ith many lo',margin # stomers may see" to &e%elop #a$ic re ation$hip$ 'ith them! At the other e.treme- in mar"ets 'ith $e' # stomers an& high margins- sellers@#ompanies 'ant to #reate %u partner$hip$ 'ith "ey # stomers! Companies to&ay also o$$er %re&uenc' (arketing progra($ that re'ar& # stomers 'ho b y $re= ently or in large amo nts! Other #ompanies sponsor c u# (arketing progra($ that o$$er members spe#ial bene$its an& #reate member #omm nities! To&ay7s #ompanies are b il&ing more &ire#t an& lasting relationships 'ith more #are$ lly sele#te& # stomers! Se&e)ti%e Re&ationshi' Management This means that the #ompany is targeting $e'er more pro$itable # stomers- sing # stomer pro$itability analysis to assess the %al e o$ # stomers to the $irm! (artner Re&ationshi' Management This means that the #ompany 'or"s #losely 'ith partners in other #ompany &epartments an& o tsi&e the #ompany to *ointly bring greater %al e to # stomers 4 relating 'ith the # stomer &ire#tly( /o #an b il& &ire#t or in&ire#t relationships 'ith the # stomer! For e.ample 3M2 ses &ire#t relating in or&er to bring the pro& #t- their l . ry #ars- &ire#tly an& in a personal 'ay to the # stomer! M#1onal&s $or e.ample ses in&ire#t relations to the sele#te& #ons mers!

$ustomer +oya&ty an! Retention $ustomer +i"etime *a&ue The %al e o$ the entire stream o$ p r#hases that a # stomer 'o l& ma"e o%er a li$etime o$ patronage 4It is not * st abo t losing one single sale 'hi#h gets lost i$ losing a # stomer(! Share o" $ustomer The share a #ompany gets o$ the #ost mers p r#hasing in their pro& #t #ategories! $ustomer e,uity It is the total #ombine& # stomer li$etime %al es o$ all o$ the #ompany7s # stomers! Aim o$ #ost mer relationship management is to pro& #e high # stomer e= ity! The Ne- Marketing +an!s)a'e InternetA p bli# 'eb- #onne#ts people- in$ormation e.#hange in#rease Rapi& Globali)ation Call $or more Ethi#s an& So#ial Responsibility Gro'th $or more not,$or pro$it Mar"eting 4more non,pro$it organi)ations li"e #ollegeshospitals- et# are sing mar"eting( E.ample+ Thin" o$ 9an)e 0ni%ersity So#iety 4long,term 'ell being

Mar"eting Company Organi)ational Ob*e#ti%es Cons mers 2ant an& Nee&s

Con#l sion B The Marketing (ro)ess+

CHAPTER 2 $om'any an! Marketing Strategy Strategi) (&anning Strategi# Planning is the pro#ess o$ &e%eloping an& maintaining a strategi# $it bet'een the organi)ation7s goals an& #apabilities an& its #hanging mar"eting opport nities! Marketing (&anning , Inp t to strategi# planning , A g i&ing philosophy $or ea#h b siness- pro& #t an& bran& , A system o$ plans that best a##omplishes the $irm7s o%erall ob*e#ti%es an& a#hie%es # stomer satis$a#tion

C! D! E! F! G!

C! Mission Statement It is the statement o$ the organi)ation7s p rpose B 'hat it 'ants to a##omplish in the larger en%ironment! It is also realisti#- spe#i$i#- base& on &istin#ti%e #ompeten#ies- meas rable an& moti%ating! Mission .uestions 9O2 4'hi#h mar"eting strategy(8 29AT 4'hi#h pro& #t(8 An& 29O 4'ho is the # stomer@target gro p(8

Organi)ational Capabilities

Mar"eting Opport nities

FIT

D! *ision Statement The "in& o$ #ompany a #ompany plans an& tries to be#ome! It is a $ t re oriente& roa&map an& spells o t 'here the #ompany is hea&ing to'ar&s! The mission is either to set+ Market oriented+ $o# sing on # stomer nee&s Product oriented+ $o# sing on the pro& #t

E! In &esigning the per$e#t #u$ine$$ port%o io the #ompany nee&s to analy)e the # rrent port%o io or Strategic )u$ine$$ *nit$ +S)*,! Strategi) Business /nit 0SB/1 , has its o'n mission statement an& ob*e#ti%es! , it #an stan& on its o'n 4e!g!+ as a single pro& #t( , it is al'ays part o$ the #ompany Business 'ort"o&io The #olle#tion o$ b siness an& pro& #ts that ma"e p the #ompany! (ort"o&io Ana&ysis The pro#ess by 'hi#h management e%al ates the pro& #ts an& b sinesses ma"ing p the #ompany! , in or&er to &e#i&e 'hi#h S30s sho l& re#ei%e less- more or no in%estment! , In or&er to &e%elop gro'th strategies $or gro'th or &o'nsi)ing! In analy)ing the b siness port$olio many #ompanies are sing the Boston $onsu&ting Grou' a''roa)h+ The p rpose o$ the 3oston Cons lting Gro p approa#h is that b sinesses are able to $in& o t 'hat ma"es p the #ompany! In sing it- #ompanies are able to analy)e an& i&enti$y the "ey b sinesses ma"ing p the #ompany! The #ompanies $in& o t abo t their Mar"et Share an& Mar"et Gro'th in sing the #lassi$i#ation o$ the $o r S30s a##or&ing to the gro-th share matri2

De%e&o'ing Gro-th Strategies Mar"eting has the main responsibility $or a#hie%ing pro$itable gro'th $or the #ompany! Mar"eting m st i&enti$y- e%al ate- an& sele#t mar"et opport nities an& lay &o'n strategies $or #apt ring them! One 'ay o$ i&enti$ying gro'th opport nities is the (ro!u)t3Market e2'ansion Gri! It is a port$olio,planning tool $or i&enti$ying #ompany gro'th opport nities thro gh (arket penetration- (arket de.e op(ent- product de.e op(ent- or di.er$i%ication!

4Thin" abo t the Starb #"s e.ample in #lass( Market (enetration gro'th by in#reasing sales o$ # rrent pro& #ts to # rrent mar"et segments 'itho t #hanging the pro& #t 4e!g!+ opening a ne' shop in another region or #o ntry b t 'ith the same pro& #ts(! Market De%e&o'ment gro'th by i&enti$ying an& &e%eloping ne' mar"et segments $or # rrent #ompany pro& #ts 4e!g!+ #hanging the target gro p geographi#ally(! (ro!u)t De%e&o'ment gro'th by o$$ering mo&i$ie& or ne' pro& #ts to # rrent mar"et segments 4e!g!+ same target gro p b t a&&ing a ne' pro& #t Starb #"s a&&e& Frapp ##ino 'ith re& #e& #alories(! Di%ersi"i)ation gro'th thro gh starting p or a#= iring b sinesses o tsi&e the #ompany7s # rrent pro& #ts an& mar"ets 4e!g!+ &i$$erent pro& #ts- &i$$erent target gro ps going abroa& 'ith the #ompany an& o$$ering &i$$erent pro& #ts to the ne' target gro ps(! A #ompany also nee&s to $in& strategies in do/n$i0ing the port$olio i$ a #ompany 'ants to aban&on a pro& #t or mar"ets! 1o/n$i0ing: Re& #ing the b siness port$olio by eliminating pro& #ts o$ b siness nits that are not pro$itable or that no longer $it the #ompany7s o%erall strategy!

F! (&anning Marketing A$ter analy)ing an& establishing 'hat "in&s o$ b sinesses the #ompany 'ill operate in an& its ob*e#ti%es $or ea#h- 'ithin ea#h b siness nit more &etaile& planning nee&s to ta"e pla#e! Mar"eting is one o$ the planning #hannels besi&es h man reso r#es- in$ormation systemsoperations- p r#hasing- a##o nting an& $inan#e+ o C! Mar"eting pro%i&es the #ompany 'ith a g i&ing philosophy the mar"eting #on#ept 4%ie' Chapter C abo%e(! o D! Mar"eting pro%i&es inp ts to strategi# planners by helping to i&enti$y attra#ti%e mar"et opport nities an& by assessing the $irm7s potential to ta"e a&%antage o$ them! o E! Mar"eting &esigns strategies $or rea#hing the nit7s ob*e#ti%es! On#e the nit7s are set- mar"eting7s tas" is to help #arrying them o t pro$itably! Marketing (&anning in#l &es , The E.e# ti%e S mmary , The C rrent mar"eting sit ation , S2OT analysis , Ob*e#ti%es an& Iss es , The Mar"eting Strategy , A#tion programs , 3 &gets , Controls Marketing Strategy The mar"eting logi# by 'hi#h the b siness nit hopes to a#hie%e its mar"eting ob*e#ti%es! *a&ue $hain The series o$ &epartments that #arry o t %al e,#reating a#ti%ities to &esign- pro& #e- mar"et&eli%er- an& s pport a $irm7s pro& #ts! It is important to &esign a )ustomer 4 !ri%en marketing strategy 4Chapter H goes into &epth o$ that( thro gh 'hi#h it e.presses the %al e #hain! In s ##ess$ lly &oing so a #ompany $irst nee&s to segment its b yers! Cons mers #an be gro pe& an& ser%e& in %ario s 'ays base& on geographic +region,de(ographic +e.g.: age,- p$'chographic- and #eha.iora %actor$ 4Chapter G(! Market Segmentation 1i%i&ing a mar"et into &istin#t gro ps o$ b yers 'ho ha%e &istin#t nee&s- #hara#teristi#s- or beha%ior an& 'ho might re= ire separate pro& #ts or mar"eting programs! Market segment 0%ie- $ha'ter 53 into !e'th1 It is a gro p o$ #ons mers 'ho respon& in a similar 'ay to a gi%en set o$ mar"eting e$$orts!

Market targeting It is the pro#ess o$ e%al ating ea#h mar"et segment7s attra#ti%eness an& sele#ting one or more segments to enter! Market 1i%%erentiation and Po$itioning: A$ter a #ompany &e#i&e& 'hi#h mar"et segments to enter- it m st &e#i&e ho' it 'ill &i$$erentiate its mar"et o$$erings $or ea#h targete& segment an& 'hat positions it 'ants to o## py in those segments! , A pro& #t7s position is the pla#e the pro& #t o## pies relati%e to #ompetitors in #ons mer7s min&s! There$ore a #ompany nee&s to sho' that their pro& #t &i$$ers $rom that o$ the #ompetitors! (ositioning It is the arrangement $or a pro& #t to o## py a #lear- &istin#ti%e- an& &esirable pla#e relati%e to #ompeting pro& #ts in the min&s o$ the target #ons mers! Di""erentiation It means that a #ompany nee&s to a#t ally &i$$erentiating the mar"et o$$ering to #reate s perior # stomer %al e! I$ the &e#ision is #lear 'hat "in& o$ mar"eting strategy a #ompany 'ants to &o it nee&s to plan the &etails o$ the mar"eting mi.- one o$ the ma*or mar"eting #on#epts in mo&ern mar"eting! Marketing Mi2 It is the set o$ #ontrollable ta#ti#al mar"eting toolsI The ! P2$ , (ro!u)t 4the goo&s an& ser%i#es #ombination the #ompany o$$ers to the target mar"etA e!g!+ %ariety- = ality- &esign- $eat res- bran& name- pa#"aging et#!A Chapter J( , (ri)e 4the amo nt o$ money #ost mers pay to obtain the pro& #tA e!g!+ list pri#e&is#o nts- allo'an#e- #re&it terms et#!A Chapter CK@CC( , (&a)e 4#ompany a#ti%ities that ma"e the pro& #t a%ailable to target #ons mersA e!g!+ #hannels- #o%erage- lo#ations- logisti#s- et#!A Chapter CD( , (romotion 4a#ti%ities to #omm ni#ate the merits o$ the pro& #t an& pers a&e target #ons mers to b y itA e!g!+ a&%ertising- personal selling- sales promotion- p bli# relations- et#!A Chapter CG( Ithat the $irm blen&s to pro& #e the response it 'ants in the target mar"et! The Mar"eting En%ironment also plays a role & ring the &e#ision ma"ing+

G! Marketing Im'&ementation It is the pro#ess that t rns mar"eting strategies an& plans into mar"eting a#tions in or&er to a##omplish strategi# mar"eting ob*e#ti%es! It nee&s to be )ontro&&e! 'hi#h means that the #ompany nee&s to e%al ate an& meas re the pro#ess an& the res lts o$ the mar"eting strategies an& #orre#t o$ ne#essary to a#hie%e the ob*e#ti%es Marketing au!it A #omprehensi%e- systemati#- in&epen&ent- an& perio&i# e.amination o$ a #ompany7s en%ironment- ob*e#ti%es- strategies- an& a#ti%ities to &etermine problems an& opport nities an& to re#ommen& a plan o$ a#tion to impro%e the #ompany7s mar"eting per$orman#e!

CHAPTER " $onsumer Markets an! $onsumer Buyer Beha%ior There are many &i$$erent $a#tors 'hi#h a$$e#t the #ons mer7s b yer beha%ior! 0n&erstan&ing the b ying beha%ior is the essential tas" o$ mar"eting management! $onsumer Buyer Beha%ior It means the b ying beha%ior o$ $inal #ons mers B in&i%i& als an& ho sehol&s 'ho b y goo&s an& ser%i#es $or personal #ons mption! $onsumer Market All the in&i%i& als an& ho sehol&s 'ho b y or a#= ire goo&s an& ser%i#es $or personal #ons mption!

Fa)tors A""e)ting $onsumer Beha%ior C0LT0RE $u&ture 0re&igion1 , $orms a person7s 'ants an& beha%ior , set o$ basi# %al es- per#eptions- 'ants an& beha%iors learne& by a member o$ so#iety $rom $amily an& other important instit tions! Su6)u&ture 0re&igion1 , gro ps 'ith share& %al e systems base& on #ommon li$e e.perien#es an& sit ations So)ia& $&ass 0so)ia&7 more a6out -ea&th or e!u)ation1 , So#iety7s &i%isions 'ho share %al es- interests- an& beha%iors SOCIAL Grou's , Membership 4e!g!+ so#ial net'or"s( , Re$eren#e 4Aspirational( , So#ial #lasses 4lo'er- 'or"ing- mi&&le an& pper #lass( , Opinion Lea&ers 43 )) Mar"eting( O'inion +ea!er A person 'ithin a re$eren#e gro p- 'ho- be#a se o$ spe#ial s"ills- "no'le&ge- personality- or other #hara#teristi#s- e.erts so#ial in$l en#e on others! , Family 4"i&s- mother- $ather spe#ial 'ants an& nee&s( , Roles an& stat s

PERSONAL Age an! +i"e )y)&e , ol&er people ha%e &i$$erent 'ants an& nee&s than teenager- "i&s or mi&&le age people! O))u'ation , I$ yo are a manager $rom Pors#he $or e.ample or a #leaner at Alber 9i*n in$l en#es yo r b ying beha%ior be#a se o$ &i$$erent in#omes! E)onomi) situation , The in#ome le%el +i"esty&e , A#ti%ities- Interests an& Opinions , Li$estyle segmentation (ersona&ity an! se&"8)on)e't , bran& personality 4mi. o$ h man traits+ sin#erity- e.#itement- #ompeten#esophisti#ate& an& r gge&ness( PS/C9OLOGICAL Moti%ation , I$ a person see"s high satis$a#tion- the moti%ational le%el is %ery high , People o$ten #an7t &es#ribe an& &on7t "no' 'hy they b y a #ertain pro& #t Mas&o-9s (yrami! o" Nee!s

(er)e'tion , people sele#t- organi)e- an& interpret in$ormation to $orm a meaning$ l pi#t re o$ the 'orl& +earning , #hanges in beha%ior o$ an in&i%i& al be#a se o$ ma"ing e.perien#es an& learn $rom them! Be&ie"s an! attitu!es , people ha%e attit &es regar&ing religion- politi#s- #lothes- m si#- $oo& an& almost e%erything else! , A belie$ is a &es#ripti%e tho ght a person has abo t something!

There are "our ty'es o" 6uying 6eha%ior

:# $om'&e2 Buying 6eha%ior , sit ations #hara#teri)e& by high #ons mer in%ol%ement in a p r#hase an& , signi$i#ant per#ei%e& &i$$eren#es among bran&s 4e!g!+ a #omp ter(! ;# Dissonan)e8re!u)ing Buying Beha%ior , sit ations #hara#teri)e& by high in%ol%ement , b t $e' per#ei%e& &i$$eren#es among bran&s 4e!g!+ #arpet(! <# =a6itua& Buying Beha%ior , sit ations #hara#teri)e& by lo' #ons mer in%ol%ement an& , $e' signi$i#ant per#ei%e& bran& &i$$eren#es 4e!g!+ a raser( ># *ariety8seeking Buying Beha%ior , sit ations #hara#teri)e& by lo' #ons mer in%ol%ement , b t signi$i#ant per#ei%e& bran& &i$$eren#es 4e!g!+ salt( The Buyer De)ision (ro)ess

:# ;# <# ># ?#

:# Nee! Re)ognition is the stage in 'hi#h the #ons mer re#ogni)es a problem or nee&! ;# In"ormation Sear)h is the stage in 'hi#h the #ons mer is aro se& to get more in$ormation abo t a #ertain pro& #t higher attention to the pro& #tA #ons mer may go into a#ti%e in$ormation sear#h! <# E%a&uation o" A&ternati%es is the stage in 'hi#h the #ons mer in$ormation to e%al ate other bran&s in the #hoi#e set! ># (ur)hase De)ision is the stage in 'hi#h the #ons mer &e#i&es 'hi#h bran& he@she is going to b y! ?# (ost8'ur)hase Beha%ior is the stage in 'hi#h the #ons mer ta"es $ rther a#tion a$ter the p r#hase- base& on satis$a#tion or &issatis$a#tion! $ogniti%e Dissonan)e 0is an n#om$ortable $eeling #a se& by hol&ing t'o #ontra&i#tory i&eas sim ltaneo sly( It means that the #ons mer or b yer $eels &is#om$ort be#a se o$ post,p r#hase #on$li#ts! This beha%ior #o l& happen i$ a ne' pro& #t gets on the mar"et an& the #ons mer is %ery ns re 'eather to try something ne' or not! The #ons mer 'o l& nee& to a&opt $irst! A!o'tion (ro)ess It is the mental pro#ess tho gh 'hi#h an in&i%i& al passes $rom $irst hearing abo t an inno%ation to $inal a&option! Stage$ in that proce$$ are: o A'areness o Interest o E%al ation o Trial o A&option 1A3MAR Mode %or deci$ion (aking +e4a(p e in c a$$: Han0e *ni.er$it',: Kno'le&ge+ , A'areness , Kno'le&ge Feeling+ , Attit &e Purchase Intension A#tion+ , P r#hase , Satis$a#tion , 3ran& Loyalty PS5CH67635 o% Co((unication +7a.idge 8 Steiner,: Kno'le&ge+ , A'areness , Kno'le&ge Feeling+ , Pre$eren#e , Con%i#tion 4Lber)e g ng( A#tion+ , Trial , Repeat

Rodger$7 the "uture o" inno%ations

CHAPTER 9 $ustomer8Dri%en Marketing Strategy Let s rephrase some o$ the alrea&y abo%e mentione& #on#epts an& terms+ Market Segmentation 1i%i&ing a mar"et into smaller gro ps 'ith &istin#t nee&s- #hara#teristi#s- or beha%iors 'ho might re= ire separate pro& #ts an& mar"eting mi.es! Market Targeting The pro#ess o$ e%al ating ea#h mar"et segment7s attra#ti%eness an& sele#ting one or more segments to enter! Di""erentiation A#t ally &i$$erentiating the $irm7s mar"et o$$ering to #reate s perior # stomer %al e! Segmenting $onsumer Markets Geogra'hi) Segmentation 1i%i&ing a mar"et into &i$$erent geographi#al nits s #h as nations- states- regions- #o nties#ities- or neighborhoo&s! Demogra'hi) Segmentation 1i%i&ing a mar"et into gro ps base& on %ariables s #h as age- gen&er- $amily si)e- $amily li$e #y#le- in#ome- o## pation- e& #ation- religion- ra#e- generation- an& nationality! (sy)hogra'hi) Segmentation 1i%i&ing a mar"et into &i$$erent gro ps base& on so#ial #lass- li$estyle- or personality #hara#teristi#s! Beha%iora& Segmentation 1i%i&ing a mar"et into gro ps base& on #ons mer "no'le&ge- attit &e- se or response to a pro& #t! Many #ompanies to&ay are sing m ltiple segmentation bases in or&er to i&enti$y smaller an& better &e$ine& target gro ps! Re= irements $or e$$e#ti%e segmentation+ , A##essible 4mar"et segments #an be e$$e#ti%ely rea#he& an& ser%e&( , S bstantial 4mar"et segments are large or pro$itable eno gh to ser%e( , 1i$$erentiable 4segments are #on#ept ally &isting ishable an& respon& &i$$erently to &i$$erent mar"eting mi. elements! , A#tionable 4e$$e#ti%e programs(

e!g!+ Mil" e!g!+ Cars- #lothing- OMO

e!g!+ iPo& se& to be- not anymore to&ay it is mass e!g!+ Ni"eA ma"e yo r o'n shoe (ositioning an! Di""erentiation (ositioning Arranging $or a pro& #t to o## py a #lear- &istin#ti%e an& &esirable pla#e relati%e to #ompeting pro& #ts in the min&s o$ the target #ons mers! (ro!u)t (osition The 'ay the pro& #t is &e$ine& by #ons mers on important attrib tes B the pla#e the pro& #t o## pies in #ons mers7 min&s relati%e to #ompeting! So #alle& Positioning Maps help #ompanies to see the #ons mer per#eptions o$ their bran&s %ers s #ompeting pro& #ts on important b ying &imensions! E.ample+

Ea#h #ompany m st &i$$erentiate its o$$er by b il&ing a ni= e b n&le o$ bene$its that appeal to a s bstantial gro p 'ithin the segment! The &i$$erentiation an& positioning tas" #onsists o$ three types+ C! I&enti$ying a set o$ possible # stomer %al e &i$$eren#es that pro%i&e #ompetiti%e a&%antage pon 'hi#h to b il& a position! D! Choosing the right #ompetiti%e a&%antages! E! Sele#ting an o%erall positioning strategy!

CHAPTER : (ro!u)t7 Ser%i)es7 an! Bran!ing Strategies (ro!u)t Anything o$$ere& to a mar"et $or attention- a#= isition- se- or #ons mption that might satis$y a 'ant or nee&! Ser%i)e A $orm o$ pro& #t that #onsists o$ a#ti%ities- bene$its- or satis$a#tions o$$ere& $or sale that are essentially intangible 4immateriell( an& &o not res lt in the o'nership o$ anything! There are three &e%e&s o" 'ro!u)ts an! ser%i)es! Ea#h le%el a&&s more #ost mer %al e+ C! $ore Bene"it+ 2hat is the b yer a#t ally b ying8 4e!g!+ a pen 'ith 'hi#h yo #an 'rite( D! A)tua& (ro!u)t+ Pro& #t an& Ser%i#e Feat res- &esign- a = ality le%el- bran& namean& pa#"aging 4e!g!+ a high = ality pen in many %ario s #olors a%ailable( E! Augmente! (ro!u)t+ O$$ering o$ a&&itional #ons mer ser%i#es an& bene$its 4e!g!+ the pen is a%ailable to b y 'ith a pen hol&er or a 'riting pa&( Than there is the &istin#tion o$ Cons mer Pro& #ts an& In& strial Pro& #ts 4a"a+ 3D3 pro& #ts(+ :# $onsumer (ro!u)ts , Con%enien#e Pro& #ts pro& #ts a # stomer b ys s ally $re= ently- imme&iatelyan& 'ith a minim m o$ #omparison an& b ying e$$ort 4e!g!+ soap- #an&y- ne'spapers$ast $oo&- et#!(! ;# Sho''ing (ro!u)ts , A goo& 'hi#h the # stomer #ompares to other goo&s 4pri#e- = ality- style- et#!(! , Sele#tion 4e!g!+ se& #ars- $ rnit re- #lothing- hotel or airline ser%i#es- et#!( <# S'e)ia&ty (ro!u)t , Pro& #t 'ith ni= e #hara#teristi#s or bran& i&enti$i#ation $or 'hi#h a signi$i#ant gro p o$ b yers is 'illing to ma"e spe#ial p r#hase e$$ort 4e!g!+ &esigner #lothesme&i#al or legal spe#ialists- et#!( ># /nsought (ro!u)t , Pro& #t that the # stomer either &oes not "no' abo t or "no's abo t b t &oes not normally thin" o$ b ying 4e!g!+ li$e ins ran#e- bloo& &onations- et#!( (ro!u)t an! Ser%i)e De)isions So)ia& Marketing The se o$ #ommer#ial mar"eting #on#epts an& tools in programs &esigne& to in$l en#e in&i%i& als7 beha%ior to impro%e their 'ell,being an& that o$ so#iety! In!i%i!ua& (ro!u)t De)ision

(ro!u)t an! Ser%i)e Attri6utes , Pro& #t < ality , Pro& #t Feat res , Pro& #t Style an& 1esign Bran!ing (a)kaging +a6e&ing (ro!u)t Su''ort Ser%i)es , (ro!u)t +ine De)isions , Pro& #t Line+ A gro p o$ pro& #ts that are #losely relate& be#a se they $ n#tion in a similar manner- are sol& to the same # stomer gro ps- are mar"ete& thro gh the same types o$ o tlets- or $all 'ithin gi%en pri#e ranges! , A #ompany #an &engthen its 'ro!u)t &ine in t-o -as+ C! Line Stret#hing+ , #ompany lengthens its pro& #t line beyon& its # rrent range either+ a( *p/ard$ in or&er to pl g a mar"et hole or being able to #ompete 4e!g!+ 1aimler Chrysler a&&e& a less l . ry #ar to its o$$erings( #ompanies in the pper en& o$ the mar"et &o so to&ay! b( 1o/n/ard$ in or&er to a&& prestige to their # rrent pro& #ts 4e!g!+ intro& #ing a ne' higher = ality #ar( #ompanies in the lo'er en& o$ the mar"et s ally &o so! #( #oth /a'$ Companies in the mi&&le range o$ the mar"et may &e#i&e to stret#h their lines in both &ire#tions! D! Line Filling+ , A&&ing more items 'ithin the present range o$ the line in or&er to rea#h e.tra pro$its- satis$ying &ealers- sing e.#ess #apa#ity- being the lea&ing $ ll, line #ompany et#! , Company nee&s to ma"e s re that ne' items are noti#eably &i$$erent $rom e.isting ones! , (ro!u)t Mi2 0or (ort"o&io1+ The set o$ all pro& #t lines an& items that a parti# lar seller o$$ers $or sale! o Four im'ortant !imension+ C! 2i&th n mber o$ &i$$erent pro& #t lines the #ompany #arries D! Length total n mber o$ items a #ompany #arries 'ithin its pro& #t lines! E! 1epth n mber o$ %ersions o$$ere& o$ ea#h pro& #t in the line! F! Consisten#y 9o' #losely relate& are the %ario s pro& #ts in the en& se+ pro& #tion #hannels- &istrib tion #hannels- et#!

Bran!ing Strategy Bui&!ing Strong Bran!s Bran! E,uity The positi%e &i$$erential e$$e#t that "no'ing the bran& name has on # stomer response to the pro& #t!

3 il&ing Strong 3ran&s is a %ery important tas" $or #ompanies! In #hoosing the right bran& strategy the mar"eter nee&s to ma"e &e#isions in+ :# Bran! (ositioning , Attrib tes , 3ene$its 4e!g!+ asso#iation 'ith a bene$it a # stomer on#e ha&( , 3elie$s an& Mal es 4emotional approa#h( ;# Bran! name se&e)tion , Sele#tion , Prote#tion <# Bran! S'onsorshi' , Man $a#t re7s bran&s or Pri%ate bran&s8 , Li#ensing , Co,3ran&ing ># Bran! De%e&o'ment 8 +ine E2tension 8 Bran! E2tension , M ltibran&s , Ne' 3ran&s e.ten&ing an e.isting bran& name to ne' $orms- #olors- si)esingre&ients- or $la%ors o$ an e.isting pro& #t e.ten&ing an e.isting bran& name to ne' pro& #t #ategories intro& #ing a&&itional bran&s in the same #ategory intro& #ing a ne' bran& in a ne' #ategory

CHAPTER 1; (ri)ing (ro!u)ts 8 /n!erstan!ing an! $a'turing $ustomer *a&ue NCompanies sho l& sell %al e- not pri#e7O 3e#a se i$ the # stomer per#ei%es the pri#e is a greater than the pro& #t7s %al e- he@she 'ill not b y the pro& #t! Let s rephrase the terms be$ore starting+ (ri)e The amo nt o$ money #harge& $or a pro& #t or ser%i#e- or the s m o$ the %al es that #ons mers e.#hange $or the bene$its o$ ha%ing or sing the pro& #t or ser%i#e! 2hat &oes the pri#e &o an& stan& $or a #ompany8 , It is the only element 'hi#h pro& #es re%en es! , Most $le.ible element , Can be #hange& = i#"ly In setting the pri#e a #ompany m st #onsi&er a n mber o$ e.ternal an& internal $a#tors in#l &ing its o%erall mar"eting strategy an& mi.- the nat re o$ the mar"et an& &eman&- an& #ompetitor7s strategies an& pri#es! There are three !i""erent -ays in setting 'ri)es $or a pro& #t or ser%i#e+ :# *a&ue8Base! (ri)ing Setting pri#es base& on b yers7 per#eption o$ %al e rather than on the seller7s #ost! , 1i$$i# lty here is to meas re the per#ei%e& %al e , Goo&,%al e pri#ing+ O$$ering * st the right #ombination o$ = ality an& goo& ser%i#e at a $air pri#e! , Mal e,a&&e& pri#ing+ Atta#hing %al e,a&&e& $eat res an& ser%i#es to &i$$erentiate a #ompany7 s o$$ers an& s pport higher pri#es! ;# $ost8Base! (ri)ing Setting pri#es base& on the #osts $or pro& #ing- &istrib ting- an& selling the pro& #t pl s a $air rate o$ ret rn $or e$$ort an& ris"! , A&&ing a stan&ar& mar" p to the #ost , Simpli$ying the pri#ing pro#ess , Minimi)ing #ompetition , Per#ei%e& as more $air $rom both b yers an& sellers , Fi.e& Costs+ Costs that &o not %ary 'ith pro& #tion or sales le%el! , Mariable Costs+ Costs that %ary &ire#tly 'ith the le%el o$ pro& #tion! , Total Costs+ The s m o$ the $i.e& an& %ariable #osts $or any gi%en le%el o$ pro& #tion! <# $om'etition8Base! (ri)ing Setting the pri#e belo'- abo%e- or at the same le%el o$ the #ompetition , Going,rate pri#ing , Seale& bit pri#ing

CHAPTER 11 (ri)ing (ro!u)ts 8 (ri)ing Strategies A pro& #t has its o'n li$e,#y#le an& thro gh the stages o$ the pro& #t li$e,#y#le the pri#e #an #hange- $or e.ample- a ne' pro& #t starts s ally 'ith a high pri#e an& a$ter it is establishe& on the mar"et an& # stomers are not as intereste& in it anymore the #ompany nee&s to a&* st the pri#e to the nee&s o$ the #ons mer! 3 t ho' &o they &o so8 Companies #an #hoose bet'een t'o broa& pri#ing strategies+ :# Market8Skimming (ri)ing Setting a high price $or a ne' pro& #t to s"im ma.im m re%en es layer by layer $rom th segments 'illing to pay the high pri#eA the #ompany ma"es $e'er b t more pro$itable sales! ;# Market8(enetration (ri)ing Setting a low price $or a ne' pro& #t in or&er to attra#t a large n mber o$ b yers an& a large mar"et share! The ? (ro!u)t Mi2 (ri)ing Strategies Strategy :# (ro!u)t +ine (ri)ing ;# O'tiona&8(ro!u)t (ri)ing <# $a'ti%e8(ro!u)t (ri)ing ># By8(ro!u)t (ri)ing Des)ri'tion Setting pri#e steps bet'een pro& #t line items Example+ The Men7s s its at three &i$$erent pri#e le%elsA a #heap one- mi&&le pri#e& one an& an e.pensi%e s it Pri#ing o$ optional or a##essory pro& #ts sol& 'ith the main pro& #t Example+ iPo& 'ith earpl gs Pri#ing pro& #ts that m st be se& 'ith the main pro& #t Example+ Printer &o not 'or" 'itho t #olor- game #onsoles nee& games- an& ra)ors nee& ra)or bla&es- et#! Pri#ing lo',%al e by,pro& #ts to get ri& o$ them Example+ TPMAQQ in the 0S gets all the #lothes $rom &esigners $or a %ery #heap pri#e be#a se the ne.t season is on an& they nee& the spa#e in their &esigner ho ses 4Or thin" o$ the e.ample $rom the boo"- the )oo 'hi#h sells the poop o$ their animalsI!(! Pri#ing pro& #ts sol& together Example+ E.pe&ia ses this strategy in o$$ering $lights 'ith hotel boo"ing- et#!

?# (ro!u)t8Bun!&e (ri)ing

The 5 (ri)e A!@ustment Strategies Strategy :# Dis)ount (ri)ing :# A&&o-an)e (ri)ing Des)ri'tion Re& #ing pri#es to re'ar& # stomer responses s #h as paying early or promoting the pro& #t Example+ O t o$ season sales- et#! Re& #ing pri#es to re'ar& # stomer responses s #h as paying early or promoting the pro& #t Example+ T rning in an ol& item 4#ar( an& b ying the ne' pro& #t less the allo'an#e A&* sting pri#es to allo' $or &i$$eren#es in # stomerspro& #ts- or lo#ations 4time,pri#ing- lo#ation,pri#ingre%en e management( Example+ E%ian C,liter bottle #osts yo G #ents 'hereas the same 'ater might r n $or D!DJ E0R an o n#e 'hen sol& in G,o n#e aerosol #ans as E%ian 3r misate r Mineral 2ater Spray moist ri)er A&* sting pri#es $or a psy#hologi#al e$$e#t Example+ #ons mers per#ei%e higher pri#e as a high = ality pro& #t Re$eren#e pri#es+ Pri#es 'hi#h b yers #arry in their min&s an& re$er to 'hen they loo" at a gi%en pro& #t Temporarily re& #ing pri#es to in#rease short,r n sales Example+ e%ent pri#ing- #ash rebates- $ree maintenan#eet#! in or&er to #reate attention- e.#itement an& rgen#y A&* sting pri#es to a##o nt $or the geographi# lo#ation o$ the # stomer Example+ FO3,origin pri#ing 4Free On 3oar&(- Rone, pri#ing- et#! A&* sting pri#es #ontin ally to meet the #hara#teristi#s an& nee&s o$ in&i%i& al # stomers an& sit ations Example+ be#a se o$ shopping bots s #h as Froogle et#!A #ost mer is able to #ompare pri#es an& see 'ho has the #heapest A&* sting pri#es $or international mar"ets Example+ 1KN/ *eans are m #h #heaper in the 0S than in Germany

;# Segment (ri)ing

<# (sy)ho&ogi)a& (ri)ing

># (romotiona& (ri)ing ?# Geogra'hi)a& (ri)ing

A# Dynami) (ri)ing

5# Internationa& (ri)ing

CHAPTER 12 Marketing $hanne&s an! Su''&y $hain Management Most #ompanies #an not bring %al e to # stomers by themsel%es! Instea& they m st 'or" #losely 'ith other $irms in a larger %al e &eli%ery net'or"! *a&ue De&i%ery Net-ork The net'or" ma&e p o$ the #ompany- s ppliers- &istrib tors- an& ltimately # stomers 'ho Npartner7 'ith ea#h other to impro%e the per$orman#e o$ the entire system! Many #ompanies se interme&iaries to bring their pro& #ts to mar"et! They try to $orge a mar"eting #hannel 4or also "no'n as &istrib tion #hannel(! Marketing $hanne& A set o$ inter&epen&ent organi)ations that help ma"e a pro& #t or ser%i#e a%ailable $or se or #ons mption by the #ons mer or b siness ser!

Nat re an& Importan#e o$ Mar"eting Channels , , , , Channel #hoi#es a$$e#t other &e#isions in the mar"eting mi. A strong &istrib tion system #an be a #ompetiti%e a&%antage Channels &e#isions in%ol%e long,term #ommitment to other $irms N mber o$ #hannel le%els,length+ , 1ire#t Channels 4no interme&iary le%els( , In&ire#t Channels 4one or more interme&iary le%els(

$on%entiona& Marketing System 0$on%entiona& Distri6ution $hanne&1 A #hannel #onsisting o$ one or more in&epen&ent pro& #ers- 'holesalers- an& retailers- ea#h separate b siness see"ing to ma.imi)e its o'n pro$its e%en at the e.pense o$ pro$its $or the system as a 'hole!

*erti)a& Marketing System 0*MS or a&so kno-n as *erti)a& Distri6ution $hanne&1 A &istrib tion #hannel str #t re in 'hi#h pro& #ers- 'holesalers- an& retailers a#t as a ni$ie& system! One #hannel member o'ns the others- has #ontra#ts 'ith them- or has so m #h po'er that they all #ooperate! $or'orate *MS A %erti#al mar"eting system that #ombines s ##essi%e stages o$ pro& #tion an& &istrib tion n&er a single o'nership! , Coor&ination an& #on$li#t management are attaine& thro gh reg lar organi)ational #hannels! , Channel lea&ership is establishe& thro gh #ommon o'nership E.ample+ Esso an& E..on $ontra)tua& *MS A %erti#al mar"eting system in 'hi#h in&epen&ent $irms at &i$$erent le%els o$ pro& #tion an& &istrib tion *oin together thro gh #ontra#ts to obtain more e#onomies or sales impa#t than they #o l& a#hie%e alone! , Coor&ination an& #on$li#t management are attaine& thro gh #ontra#t al agreements among #hannel members! Fran)hise organiBation A #ontra#t al %erti#al mar"eting system in 'hi#h a #hannel member- #alle& a $ran#hiser- lin"s se%eral stages in the pro& #tion,&istrib tion pro#ess! , Most #ommon type o$ #ontra#t al relationship!

A!ministere! *MS A %erti#al mar"eting system that #oor&inates s ##essi%e stages o$ pro& #tion an& &istrib tionnot thro gh #ommon o'nership or #ontra#t al ties- b t thro gh the si)e an& po'er o$ one o$ the parties! , Lea&erships is ass me& by one or a $e' &ominant members $hanne& OrganiBation =oriBonta& Marketing System A #hannel arrangement in 'hi#h t'o or more #ompanies at one le%el *oin together to $ollo' a ne' mar"eting opport nity! , Channels at the same le%el 'or" together 'ith #hannel members Mu&ti)hanne& Distri6ution System A &istrib tion system in 'hi#h a single $irm sets p t'o or more mar"eting #hannels to rea#h one or more # stomer segments! , Almost e%ery large #ompany an& many small ones &istrib te thro gh m ltiple #hannels , Also #alle& hybri& mar"eting #hannels $hanging $hanne& OrganiBation Disinterme!iation The # tting o t o$ mar"eting #hannel interme&iaries by pro& #t or ser%i#e pro& #ers- or the &ispla#ement o$ tra&itional resellers by ra&i#al ne' types o$ interme&iaries!

CHAPTER 1! $ommuni)ating $ustomer *a&ue 4 Integrate! Marketing $ommuni)ation Strategies 3 il&ing goo& # stomer relationships nee&s more than * st &e%eloping a goo& pro& #t- pri#ing attra#ti%ely- an& ma"ing it a%ailable to the target # stomers! Companies m st #omm ni#ate their %al e propositions to # stomersO Comm ni#ation m st be planne& an& blen&e& into #are$ lly integrate& mar"eting #omm ni#ation programs! It is a #r #ial element in a #ompany7s e$$orts to b il& pro$itable # stomer relationships! The (romotion Mi2 0a&so kno-n as $ommuni)ation Mi21 It is the spe#i$i# blen& o$ a&%ertising- promotion- p bli# relations- personal selling- an& &ire#t, mar"eting tools that the #ompany ses to pers asi%ely #omm ni#ate # stomer %al e an& b il& # stomer relationships! This #an be e.presse& in the Comm ni#ation@Promotion Mi. , FLO2ER+

A!%ertising

Any pai& $orm o$ non,personal presentation an& promotion o$ i&easgoo&s- or ser%i#es by an i&enti$ie& sponsor!

Sa&es (romotion Short,term in#enti%es to en#o rage the p r#hase o$ sale o$ a pro& #t or ser%i#e (u6&i) Re&ations 3 il&ing relations 'ith the #ompany7s %ario s p bli#s by obtaining $a%orable p bli#ity- b il&ing p goo& #orporate image- an& han&ling or hea&ing o$$ n$a%orable r mors- stories- an& e%ents! (ersona& Se&&ing Personal presentation by the $irm7s sales $or#e $or the p rpose o$ ma"ing sales an& b il&ing # stomer relationships! Dire)t Marketing 1ire#t #onne#tions 'ith #are$ lly targete& in&i%i& al #ons mers to both obtain an imme&iate response an& # lti%ate lasting # stomer relationships 4e!g!+ telephone- &ire#t mail- email- Internetcommunicating directl 'ith the speci!ic customer(

Mar"eters are more an& more shi$ting a'ay $rom &oing mass mar"eting an& are trying to &e%elop $o# se& mar"eting programs &esigne& to b il& #loser relationships 'ith # stomers in more narro'ly &e$ine& mi#ro,mar"ets! Reason $or the shi$t is the %ast impro%ement o$ in$ormation te#hnologies 'hi#h are spee&ing the mo%ement to'ar&s segmente& mar"eting! A&%antage o$ that is that #ompanies #an #olle#t &etaile& #ost mer in$ormation an& "eep #loser tra#" o$ # stomer nee&s! Companies an& # stomers are #omm ni#ating more 'ith ea#h otherO There$ore- it is important $or a #ompany to ha%e an e$$i#ient integrate& mar"eting #omm ni#ation mi. strategy! Integrate! Marketing $ommuni)ation 0IM$1 Care$ lly integrating an& #oor&inating the #ompany7s many #omm ni#ations #hannels to &eli%er a #lear- #onsistent- an& #ompelling message abo t the organi)ation an& its pro& #ts! The $ommuni)ation (ro)ess 1ECO1ING Response an& Fee&ba#" Sen&er Message@Me&i m ENCO1ING The A Ste's in De%e&o'ing E""e)ti%e $ommuni)ation :# Ste' I!enti"ying the Target Au!ien)e , 29AT sho l& be sai&8 , 9O2 sho l& it be sai&8 , 29EN sho l& it be sai&8 , 29ERE sho l& it be sai&8 , 29O 'ill say it8 Determining $ommuni)ation O6@e)ti%es Noise Re#ei%er

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Buyer Rea!iness Stages It is the stages #ons mers normally pass thro gh on their 'ay to p r#hase- in#l &ing a'areness- "no'le&ge- li"ing- pre$eren#e- #on%i#tion an& p r#hase!

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Designing a Message , AI1A $rame'or" 4Attention- Interest- 1esire an& A#tion( g i&es message &esign , Message #ontent appeals or themes 4Three t'pe$ o% appea $: rationa e(otiona or (ora appea $( , Message str #t re One,si&e& or t'o,si&e& arg ment , Message $ormat Color an& other &etails

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$hoosing Me!ia 8 (ersona& $ommuni)ation $hanne&s T'o or more people #omm ni#ate &ire#tly 'ith ea#h other- in#l &ing $a#e to $a#e- on the phone- thro gh mail- or email- or e%en thro gh an Internet N#hat7! 2or&,o$,mo th in$l en#e "u## Mar$eting+ C lti%ating opinion lea&ers an& getting them to sprea& in$ormation abo t a pro& #t or ser%i#e to others in their #omm nities! 8 Non8'ersona& $ommuni)ation $hanne&s Me&ial that #arries messages 'itho t personal #onta#t or $ee&ba#"- in#l &ing ma*or me&ia- atmospheres- an& e%ents! Se&e)ting the Message Sour)e , Messages &eli%ere& by highly #re&ible so r#es are more pers asi%e! , E.ample+ Kate Moss or any other #elebrity representing a pro& #t $o&&e)ting Fee!6a)k , Re#ognition- re#all- an& beha%ioral meas res are assesse&

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The ; (romotion Mi2 Strategies

(ush Strategy It is the promotion strategy that #alls $or sing the sales $or#e an& tra&e promotion to p sh the pro& #t thro gh #hannels! The pro& #er promotes the pro& #t to #hannel members to in& #e them to #arry the pro& #t an& to promote it to $inal #ons mers! , Tra&e promotions an& personal selling e$$orts 'hi#h p sh the pro& #t thro gh the &istrib tion #hannels! (u&& Strategy It is the promotion strategy that #alls $or spen&ing a lot on a&%ertising an& #ons mer promotion to in& #e $inal #ons mers to b y the pro& #t! I$ the p ll strategy is e$$e#ti%e#ons mers 'ill then &eman& the pro& #t $rom #hannel members- 'ho 'ill in t rn &eman& it $rom pro& #ers! , Pro& #ers se a&%ertising an& #ons mer sales promotions to generate strong #ons mer &eman& $or pro& #ts!

CHAPTER 1" A!%ertising an! (u6&i) Re&ations A&%ertising is a goo& 'ay to in$orm an& pers a&e! It rea#hes a large- geographi#ally &isperse& a &ien#e- o$ten 'ith high $re= en#y Cons mers per#ei%e a&%ertise& goo& as more legitimate 3 il&s bran& image 1isa&%antage+ ImpersonalA One 'ay #omm ni#ation Mar"eting managers m st ma"e %our i(portant deci$ion$ 'hen &e%eloping an a&%ertising program+ :# Setting A!%ertising O6@e)ti%es A!%ertising O6@e)ti%e It is a spe#i$i# #omm ni#ation ta$k to be a##omplishe& 'ith a spe#i$i# target a &ien#e & ring a spe#i$i# perio& o$ ti(e!

De%e&o'ing A!%ertising Strategy A!%ertising Strategy It is the strategy by 'hi#h the #ompany a##omplishes its a&%ertising ob*e#ti%es! It #onsists o$ t'o ma*or elements+ #reating a&%ertising messages an& sele#ting a&%ertising me&ia! Creating A&%ertising Message ta"ing into a##o nt+ , Changing message en%ironment 4people 'ant to #ontrol 'hen or e%en i$ they 'ant to 'at#h #ommer#ial $or e.ample( , Message strategy+ o Creati%e Con#ept #ompelling Nbig i&ea7 that 'ill bring a&%ertising message strategy to li$e in a &istin#ti%e an& memorable 'ay! , Message e.e# tion+ o E.e# tion style approa#h- style- tone- 'or&s- an& $ormat se& $or e.e# ting an a&%ertising message

Se&e)ting A!%ertising Me!ia , Rea#h Meas re o$ per#entage o$ people in the target mar"et 'ho are e.pose& to the a& #ampaign & ring a gi%en perio& o$ time( , Fre= en#y Meas re o$ ho' many times the a%erage person in the target mar"et is e.pose& to the message( , Me&ia Impa#t The = alitati%e %al e o$ a message e.pos re thro gh a gi%en me&i m Ma@or Me!ia Ty'es , Ne'spaper , Tele%ision , 1ire#t Mail , Ra&io , Maga)ines , O t&oor 42allpaper( , Internet Sa&es (romotion , Consists o$ short,term in#enti%es to en#o rage the p r#hase or sales o$ a pro& #t or ser%i#e! $onsumer Sa&es (romotion Too&s , Samples+ O$$er o$ a trial amo nt o$ pro& #t , Co pons+ Sa%ings 'hen p r#hasing spe#i$ie& pro& #ts , Cash re$ n&s NRebates7+ re$ n& o$ part o$ the p r#hase pri#e by mail , A&%ertising Spe#ialties+ Arti#les imprinte& 'ith an a&%ertiser7s name gi%en as gi$ts (u6&i) Re&ations 0(R1 (R Fun)tions , Press Relations , Pro& #t P bli#ity , P bli# A$$airs , Lobbying , In%estor Relations , 1e%elopment

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