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Part 3: How to Market
Goods and Services
8. Developing Marketing
Strategies
9. Promoting and
Distributing
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Chapter 8
Developing
Marketing
Strategies
McGraw-Hill/Irwin
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Copyright © 2009 by The McGraw-Hill Companies, Inc. All rights reserved.
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Marketing Concept
Market Research
Marketing Strategy
Product Life Cycle
Packaging And Pricing
Services vs. Goods
USDA/ARS, Photo by Scott Bauer
Chapter
Developing
Market Strategies
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8-3
Superior Marketing
Moves Quickly
Pricing Differential
Attention to Packaging
Build Customer Loyalty
Ryan McVay/Getty Images
Samples/Demonstrations
Educate Customers
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McGraw-Hill/Irwin
Marketing Concept
“…Giving Special
Consideration To The
Needs, Desires, And
Wishes Of Present
And Prospective
Customers.”
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Elements Of
Marketing Concept
1) Customer
Orientation
2) Goal Orientation
3) Systems Approach
Jack Star/PhotoLink/Getty Images
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8-6
Implementing the
Marketing Concept
Conscious Of Image
Product Benefits
Company “Fit”
Offer Research
Unique Expertise
Not Pushy
Speak With Integrity
C. Borland/PhotoLink/Getty Images
Practice Consumerism
Aware Of Danger Signals
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E-Commerce
“…Technology-Mediated
Exchanges Between Parties
As Well As The
Electronically Based IntraOr Interorganizational
Activities That Facilitate
Such Exchanges.”
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8-8
Marketing
Research Areas
Identify Customers
Determine Needs
Evaluate Sales Potential
Select Appropriate
Channel Of Distribution
Evaluate Advertising &
Promotion
PhotoLink/Getty Images
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8-9
Steps In
Marketing Research
Define Problem
Gather/Evaluate
Information
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Sources
Of Information
Existing Information
Primary Research
Specialized
Techniques
Web
Keith Brofsky/Getty Images
Computerized Databases
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Marketing
Research On The Internet
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Checkout Automation
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Marketing Strategy
Set Objectives
Choose Target
Market
Market Segmentation
Shifting Target Markets
Regional Purchasing Differences
Jason Reed/Getty Images
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Shifting MarketsPopulation/Household
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3.5
3
Population Per
Household
Population Per
Family
2.5
2
1.5
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0.5
0
1940 1950 1960 1970 1980 1990 2000
Source: U.S. Census Bureau
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Shifting MarketsOlder Consumers
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Shifting MarketsSenior Spenders
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Marketing Mix (4 Ps)
Product
Place
Promotion
Price
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Product Life Cycle
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Packaging
Product
Promotes
Protects
Identification
Improves Product
Convenience
Promotes Brand Recognition
Influences Buying Decision
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Pricing (4 Cs)
Customer
Company
Competition
Constraints
Rob Melnychuk/Getty Images
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Influences
On Pricing Policies
Stage Of Product Prestige Pricing
Leader Pricing
Life Cycle
Bait Pricing
Competition
Odd Pricing
Cost-Oriented
Psychological
Flexibility
Pricing
Suggested Retail Price Lining
Price
Demand-Oriented
List Price
Pricing
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Markup
Markup As
Percentage
Of Cost
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Discounts
And Allowances
%Discount- Reduction
On List Price As
Incentive To Buy
%Allowance- Given When
Accepting Quality/Quantity
Reduction
Artvilee/Getty Images
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Types Of
Discounts/Allowances
Cash
Functional/Trade
Quantity
Promotional
Trade-Ins
Push/Prize Money
Joshua Ets-Hokin/Getty Images
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Small
Business Price Setting
$ Service Firms
$ Retailers
¢ Customary Price
¢ Unit Price
¢ Loss Leader
$ Wholesalers
$ Producers
$ Building Contractors =
PhotoLink/Getty Images
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Marketing Services
Nature Of Service
Personal
Business
Differentiating
Services
Adam Crowley/Getty Images
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Marketing
Service Strategy
Level Of Customer
Contact
Primacy
Pricing
Quality
Degree Of Expertise/Specialty
Value To Buyer
Rob Melnychuk/Getty Images
Promotion
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Strategy ImplementationIntroductory Stage
Analyze Situation
Present
Future
Fit Product To Market
Evaluate Resources
Ryan McVay/Getty Images
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Strategy ImplementationGrowth Stage
New Classes Of Customers
Penetration Of
Existing Market
Maintain Market
Share By Design & Marketing
Innovation
C. Borland/PhotoLink/Getty Images
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