Transcript Business Studies(Powerpoint Files)

Definition of Marketing
• the process of planning
and executing the
conception, pricing,
promotion, and
distribution of ideas,
goods, and services to
create exchanges that
satisfy individual and
organizational objectives.
• E.g. Vitasoy
Exchange
• a process by
which two or more
persons give and
receive something
of value.
The Marketing Concept Focus on the Customer
• Market focus
• Customer orientation
• Co-ordinated marketing
• Profit seeking
Drawbacks of Marketing
Concept
• ignores public
• influences values &
ideas
Recent Development
-- Societal Marketing Concept
• Concerns public welfare
and social responsibility
• e.g. CLP
The role of Marketing
• Marketing Analysis
• Marketing Planning
• Marketing Implementation
• Marketing Control
Marketing Research
• Gathering, recording
and analysis of data
• to solve a specific
problem that is too
important to be answered by guessing
• an informational input to decisions
What M.R. can tell ?
• How satisfied the consumers are
• How products are perceived
• Evaluate the sales potential
• Determine the effectiveness of ad
• Predict the impact of price changes
The Marketing Research Process
Defining the Problem & Research Objectives
Developing the Research Plan
Implementing the Research Plan
Interpreting and Reporting the Findings
1. Defining the problem and
research objectives
• to find out the real problem but not the
symptom
• set the research objectives
• research approaches:
– exploratory
– descriptive
– causal
Examples
Exploratory
Research
Descriptive Research Causal Research
Our sales are
declining and we
don’t know why.
What kind of people
are buying our
products?
Will buyers purchase
more of our product
in a new package
Would people be
interested in our
new-product idea?
What features do
buyers prefer in our
product?
Which of the two
advertising
campaigns is more
effective?
2. Developing research plan
• Determine specific information needs
• Source of information
– secondary data
• Internal
• External
– primary data
Benefits and Limitations of Secondary
Data
•
•
•
•
•
Benefits
Low cost
Less effort
Less time
Sometimes more
accurate
Some information only
from secondary sources
Limitations
• Collected for other purpose
• No control over data collection
• Potential accuracy problem
• May not be reported in required
form
• May be outdated
• May not meet requirements
• A number of assumptions made
• Planning primary data collection
– research approach
– contact methods
– sampling plan
– research instruments
Research approach
• Observational research
• survey research
• focus group
• experimental research
Contact methods
• Telephone survey
• mail questionnaires
• personal interviews
Sampling plan
• sampling unit
• sampling size
• sampling procedure
Sampling Techniques
Probability Sampling
• All population members have a known
probability of being in the sample
Simple Random Sampling
• Each population member, and each possible
sample, has equal probability of being
selected
Stratified Sampling
• The chosen sample is forced to contain units
from each of the segments or strata of the
population
Sampling Techniques (Contd.)
Cluster Sampling
• Involves dividing population into subgroups
• Random sample of subgroups/clusters is
selected and all members of subgroups are
interviewed
• Very cost effective
• Useful when subgroups can be identified that
are representative of entire population
Research instrument
The most common instrument is questionnaire
• what questions to ask
• question structure
• wording of question
• order of question
Implementing the research
plan
• collecting and
analyzing data
Interpreting and reporting the
finding
• Interpret the findings, draw conclusions and
report to management
• the manager will
utilize these findings
to make decisions
Consumer behaviour
• refers to the buying
behaviour of final
consumers
• it includes the analysis
of factors that
influences purchase
decisions and product
use
Definition
Consumer behaviour studies how
individuals, groups,and organizations
select, buy, use, and dispose of goods,
services, ideas,or experiences to satisfy
their needs and desires.
Consumer Behaviour
Marketing
and other
stimuli
Buyer’s
black box
Buyer’s
response
External factors
1.
Culture
2.
Social factor
- reference
groups
3.
Family
4.
Salesperson
5.
Advertising
e.g. Fancl
6.
Situation
Internal factors
1.
Perception
– the process by which we select organize and
interpret these stimuli into a meaningful and
consistent picture
2. Motivation
•
to fulfill some kind of need
Self-actualization Needs
Esteem
Needs
Esteem
Needs
Social Needs
Security Needs
Physiological Needs
3. Learning
• creates changes in
behaviour through
experience and
practice
4. Attitude
• Consistently favourable or unfavourable
evaluation, feelings and tendencies toward an
idea.
5. Personality
• refers to the unique
psychological characteristics
that lead to relatively consistent
and lasting responses
E.g. Vita Distilled Water
6. Demographic factors
• such as age, sex, income,
education, occupation,….
Industrial Buying behaviour
Industrial market
• Consists of all the individuals and
organizations acquiring goods and services
that enter into the production of other
products and services that are sold, rented,
or supplied to others
Types of buying situations
• Straight rebuy
• modified rebuy
• new task buying
Industrial buying process
• Recognise the problem
• determine product needs and describe
product specifications
• search for suppliers
• assess and select suppliers
• evaluate overall performance
Participants in the industrial
buying process
• Users
• influencers
• buyers
• deciders
• gatekeepers
Factors affecting industrial buying
behaviour: External factors
•
•
•
•
•
Level of demand
economic outlook
budget constraints
supply conditions
political/legal and competitive environmental
changes
• rate of technological change
: internal factors
• Organizational influences
• interpersonal influences
Differences between consumer
market and industrial market
Buying motive:
Industrial market
• Businesses do not buy
products for final
consumption. Instead,
they make purchases to
be used directly or
indirectly in meeting the
needs of final
consumers.
Consumer market
• For direct consumption
Differences between consumer
market and industrial market
Size of purchase:
Industrial market
Consumer market
• Tend to be larger
• Tend to be smaller
Differences between consumer
market and industrial market
Frequency of purchase:
Industrial market
Consumer market
• Less frequent
• More frequent
Differences between consumer
market and industrial market
Buyer-seller relationship:
Industrial market
Consumer market
• Stable and long term • Businesses that
relationship with seller
produce products for
sale to final consumers
often have little contact
with customers
Differences between consumer
market and industrial market
Product:
Industrial market
Consumer market
• More complex,
customized; product
support is critical.
• Less complex,
standardized; product
support is important
Differences between consumer
market and industrial market
Price:
Industrial market
Consumer market
• Competitive bidding
and negotiation; list
prices on standard
products
• List prices
Differences between consumer
market and industrial market
Distribution:
Industrial market
Consumer market
• More direct (shorter)
• Less direct (longer)
Differences between consumer
market and industrial market
Promotion:
Industrial market
Consumer market
• Emphasis on
personal selling
• Emphasis on
advertising
Marketing strategy
• the plan of action for accomplishing the
marketing objectives
• consists of
– specific strategies for target market
– marketing mix
– marketing expenditure level
Analyze and select target
market
Market
• the set of all actual and potential buyers of
a product
• steps of selecting target market
–market segmentation
–market targeting
–market positioning
Step 1
Marketing
Segmentation
Market segmentation
• the act of dividing large, heterogeneous
(dissimilar) markets into smaller,
homogeneous (similar) submarkets.
Advantages of segmentation
• Precise market definition
• better analysis of competition
• rapid response to changing market needs
• effective resources allocation
• effective strategic planning
Dimensions for segmenting
consumer markets
• Geographic segmentation
– dividing the market into different geographical
units.
Demographic segmentation
• dividing the market into groups based on
variables like age, sex, family size, family
life cycle, income, occupation, education,
religion, race, nationality,…
• popular because of
– consumer needs vary closely with demographic
variables
– easier to measure
Psychographic segmentation
• based on social class, lifestyle, or
personality characteristics
Segmentation by benefits
• base on what a product will
do rather than consumer
characteristics
Criteria for effective
segmentation
• Substantial enough to serve
• Accessible by marketing means
• Differentiable:
– conceptually distinguishable and responding
differently
• Actionable:
– effective programs can be designed for
attracting target customers
• Measurable:
– size of market segment, purchasing
power and profile of target customers
Step 2
Market Targeting
• to reveal the firm market-segment
opportunities
• to evaluate the various segments
– segment size and growth
– segment structural attractiveness
– company objectives and resources
Undifferentiated marketing
• A firm decides to ignore market segment
differences and go after the whole market
with one offer. E.g. McDonald
Differentiated marketing
• A firm decides to target several market
segments and design separate offers for each
– E.g. Giordano: men, ladies
Concentrated marketing
• A firm goes after a large share of one or a few
sub-markets.
– Selected segments
– Specific products
– Specific markets
Step 3
Market
Positioning
Market positioning
• to arrange for a product to occupy a clear,
distinctive and desirable image relative to
competing products in the minds of target
consumers.
Purpose:
• to reinforce or develop an image concerns
a product in customer mind
Ways of positioning
• Product features
• product benefits
• associating the product with a use or
application
• user category
Steps of positioning
1.
Identifying a set of possible competitive
advantages
2.
Selecting the right competitive
advantages
3.
Communicating and delivering the
chosen position to the market
Marketing Mix
• the set of controllable marketing variables
that the firm blends to produce the response
it wants in the target market
• 4 Ps
–
–
–
–
product
price
place
promotion
• A product is anything that can be
offered to a market for attention,
acquisition, use, or consumption and
that might satisfy a want or need
• 3 levels of product
– core product
– actual product
– augmented product
Product Classification
• Convenience goods
• Shopping goods
• Specialty goods
• Unsought goods
Classification of consumer goods
Individual product decisions
• Product attribute decisions
• Brand decisions
• Packaging decisions
• Product-Support decisions
Product Line Decisions
• A product line is a group of products that
are related in function, customer-purchase
needs, or distribution channels.
Product mix decisions
• the set of all product lines and items that a
particular seller offers for sale
• 4 dimensions
–
–
–
–
width
length
depth
consistency
How new is “new”?
•
•
•
•
•
New to the world
New to the firm
Product line extensions
Product improvement
Product modification
Why does a company need new products?
• Obtain greater profits/ROI
• Capture larger market share
• Meet customers’ changing needs &
tastes
• Shorter product life cycle
• Build competitive advantages
• Planned obsolescence …
New product development
Steps:
• Product idea generation
• Product idea screening and product
concept development
• Business analysis
• Product testing
• Market testing
• Commercialization
Product life cycle (PLC)
• the course of a product’s sales and profit
over its lifetime
• 4 stages:
–
–
–
–
introduction
growth
maturity
decline
Sales and profit
Sales
Profit
Introduction
Growth
Maturity
Time
Decline
Introduction Stage
• slow sales growth
• profit are nonexistent
• high promotion spending
• a few competitors
• usually focus on high-income groups
Growth Stage
• rapid market acceptance
• new competitors will enter
• introduce new product features
• market will expand
• profit increases
Maturity Stage
• slowdown in sales
• competitors begin marking down prices,….
to find better versions of the product
• drop in profit
• only well-established competitors
Decline Stage
• sales fall off and profits
drop
• some firms withdraw from
the market
Summary of Product Life-Cycle Characteristics, Objectives, and
Strategies
INTRODUCTION
GROWTH
MATURITY
DECLINE
Sales
Low sales
Rapidly rising sales
Peak sales
Declining sales
Costs
High cost per
Average cost per
Low cost per
Low cost per
customer
customer
customer
customer
Profits
Negative
Rising profits
High profits
Declining profits
Competitors
Few
Growing number
Stable number,
Declining number
Characteristics
beginning to decline
Marketing
Create product
Maximize market
Maximize profit while Reduce expenditure
Objectives
awareness and trial
share
defending market
and milk the brand
share
Strategies
Product Strategy
Offer a basic product Offer product
extensions, service,
Diversify brand and
Phase out weak
models
items
warranty
Pricing Strategy
High price, unique
Lower price with
Price at or below
Set price to stay
product/ cover
passage of time
competitors’
profitable or
introduction costs
Promotion Strategy
Mount sales
decrease to liquidate
Appeal to mass
Emphasize brand
Reinforce loyal
promotion for product market; emphasize
differences, benefits, customers; reduce
awareness
loyalty
features, brand
promotion
expenditures
Place Strategy
Distribute through
Build intensive
Enlarge distribution
Be selective in
selective outlets
network of outlets
network
distribution; trim
away unprofitable
outlets
Ways to extend PLC
• To increase the frequency of use
• to add new user
• to find new uses
• to change package size, label,
or product quality
Factors influencing pricing
decisions ---- Internal Factors
1.
Business and marketing objectives
• pricing objectives derive directly from
company objectives
2.
Marketing mix strategy
• must coordinate with product, design,
distribution and promotion decisions
3.
Costs
• set the floor for the price
External factors
1.
The market and demand
• Pricing in different types of market
• consumer perception of
price and value
2.
Competitors’ prices and offers
3.
Other external factors
• economic conditions
• reseller conditions
• Government
Pricing Objectives
• Profit maximizing objective
• Market share objective
• Competition objective
• Social objective
• Image objective
General Pricing Approaches
• Cost-based approach
• Buyer-based approach
• Competition-based approach
Pricing Strategies for New
Products
• Market-skimming pricing
• Penetration pricing
Price-adjustment strategies
• Discount pricing and allowances
–
–
–
–
–
–
cash discounts
quantity discounts
functional discounts
seasonal discounts
trade-in allowances
promotional allowances
• Discriminatory pricing
– customer-segment pricing
– product-form pricing
– location pricing
– time pricing
• Psychological pricing
• Promotional pricing
– loss leaders
– special event pricing
– cash rebates
Promotion tools
• advertising
• sales promotion
• public relations
• personal selling
Setting the promotion budget
Affordable method
– ignores the effect of
promotion on sales
Percentage-of-sales method
• wrongly view sales as the
cause of promotion rather
than as the result
Competitive-Parity
method
Objective-and-task method
Five important decisions
1. Setting objectives
– to inform,
persuade, or
remind
2. Setting the advertising budget
• stage in the PLC
• market share
• competition
• advertising frequency
• product differentiation
3. Creating the advertising message
• message generation
• message evaluation
• message execution
4. Selecting advertising media
• reach, frequency, impact
• media types
• media vehicles
• media timing
5. Advertising evaluation
• communication effects
• sales effects
Sales promotion
• A wide variety of short-term incentive tools
–
–
–
–
coupons
premiums
contests
buying allowances
• to stimulate consumers, the trade partners,
and the company’s own salesforce
Purposes of sales promotion
• to stimulate consumer trials, to reward loyal
customers, to increase repurchase rate, to
cement long-term relationship with
retailers,……
• used together with advertising or personal
selling
Steps of sales promotion
• Setting sales-promotion objectives
• selecting sales-promotion tools
• pretesting and implementing
• evaluating
Public relations
• Building good relations with the company’s
various publics obtaining favorable publicity
• building up good “corporate image”
• handling or heading off unfavourable rumors,
stories and events
Public relations tools
•
•
•
•
•
•
•
Create news
speeches
special events
written materials
audiovisual materials
corporate identity materials
contributing money and time to publicservice activities
Major public relations
decisions
• Setting public relations objectives
• choosing public relations messages and
vehicles
• implementing the public relations plan
• evaluating public relations results
Steps of sales management
•
•
•
•
•
•
•
Setting salesforce objectives
designing salesforce strategy
structure, size and compensation
recruiting and selecting
training
supervising
evaluating
Personal Selling Process
• Prospecting
• Preapproach
• Approaching the prospect
• Making the presentation
• Handling Objections
• Close the sale
• Follow up
Factors affecting the
promotion mix
• Type of product/market
• push vs. pull strategy
• buyer readiness state
• PLC stage
• The role of distribution is getting a product
to its target market.
• Channels of distribution: the routes
followed by products as they change
ownership in the movement from production
to consumption
Distribution channel functions
• Information
• Negotiation
• promotion
• physical distribution
• contact
• financing
• matching
• risk taking
Designing distribution channel
• Selecting the proper type of distribution
channel
• selecting the types of middlemen
• determining the intensity of distribution
Meaning of logistics
• the movement of all
materials :
– raw materials : from
the sources to the
processing point
– finished goods :
from the plant to
ultimate customers
• concerns with the management of physical
flow
Major logistics activities
• Transportation
• Protective packaging
• inventory maintenance • acquisition
• order processing
• product scheduling
• warehousing
• information
maintenance
• materials handling
Definition
• Service is an activity or benefit that one party can
offer to another that is essentially intangible and
does not result in the ownership of anything.
• Its production may or may not be tied to a
physical product
• Diamond
medical diagnosis
The Servuction system
5 elements influence the service:
• Organization and system (invisible)
• Environment (visible)
• Contact personnel / service provider
• Customer A
• Customer B
The
Servuction System
Characteristics of service
• Intangibility
• inseparability
• heterogeneity
• perishability
– fluctuating demand
Characteristics of Services
differing from Goods
Goods
Services
Resulting Implications
tangible
intangible
Services cannot be
inventoried, patented,
readily displayed/
communicated
Marketing
Strategies
Tangibilize
the
intangible
The
Peninsula
Characteristics of Services
differing from Goods
Goods
Services
Resulting Implications Mkt
Strategies
standardized
heterogeneous
•Service delivery &
customer satisfaction
depend on employee
actions
•Service quality depends
on many uncontrollable
factors
•No sure knowledge that
service delivered matches
what was planned &
promoted
•HRM mgt
–recruit
–Train
•Process
standardization
•empowerment
•Service
recovery
Characteristics of Services
differing from Goods
Goods
Services
Resulting Implications
Mkt
Strategies
Production
separate
from
consumption
Inseparability
of production
&
consumption
•Customers participate in & affect
the transaction
•Customers affect each other
•Employees affect the service
outcome
•Decentralize may be essential
•Mass production is difficult
•isolate
technical
core
•decrease
contact level
•Increase
customer
participation
(interaction)
Characteristics of Services
differing from Goods
Goods
Services
Resulting Implications
Mkt
Strategies
Nonperishable
Perishable
-fluctuate
demand
•Difficult to synchronize supply &
demand with service
•Services cannot be returned /
resold
•Services cannot be inventoried
•Capacity
mgt
•Queuing
mgt
Marketing Mix for Services
•
•
•
•
+
•
•
•
Product
Price
Promotion
Place
People
Process
Physical evidence
Singapore air
Product
– Tangiblize the intangible
– core and supplementary services
– customization vs. standardization
– the service mix
Price
Customer being inseparable in the process,
outlay by customers include:
• Time
• Physical effort
• Psychological burdens (mental effort, negative
feelings)
• Negative sensory burdens (unpleasant
sensations affecting any of the 5 senses)
Price
• Good understanding of the costs is needed
as decrease of above burdens justify higher
pricing
• Difficult to define a unit of service, considering:
– Visible vs. invisible
– Difference in speed
– Direct contact vs. impersonal channel
Promotion
Different from advertising for goods
Intangible nature
– ‘vivid information’ that produce a clear impression on the
senses, e.g. symbols
– Services are harder for customer to evaluate
Use tangible cues, e.g. high calibre personnel (DHL)
• Strong organizational image
• Use personal information source, e.g.
celebrity endorsements 成功個案
• Engaging in post-purchase communication
Place
• Identify core services
• Reduce contact of low contact element e.g.
download application forms
• Use of technology to create new channels:
– e.g. Octopus for ticketing, online shopping
•
•
•
•
Convenience
Number of outlets
Location
scheduling
Fluctuating Demand
Supply side
• Cross training
• Use part time staff
• Rent or share facilities &
equipment
• Schedule down time during
period of low capacity (take
vacation)
• Extra service hours
• Use technology
• Use price
Demand side
• Price discrimination
• Reservation
• Overbook
• Queuing (make the waiting
more tolerable)
• Shift demand
• Change the salesperson’s
assignment
• Create promotional events
People
• Importance of customer contact personnel
– Internal marketing (customer focus philosophy,
bonus, awards, recognition as incentive)
• Ritzcarlton
Internal Marketing
Process
• Customer involvement in production
– Educate customers in using technology or selfservice
• Develop service oriented internal process
• Logistic support
• Empowerment of staff for service recovery
Physical Evidence
Intangible nature makes service difficult to
evaluate
• Communicate through corporate image, word
of mouth, pricing physical evidence, warranty,
awards
• ritzcarlton
• Judge by process, post-purchase information
search – needs re-assurance
Meaning of CRM
• the process of creating,
maintaining, and
enhancing strong, valueladen relationships with
customers and other
stakeholders.
Rationale behind CRM
• to retain current customers vs. to attract new
customers
• new Marketing view: the science and art of
finding, retaining and growing profitable
customers
• challenges
– changing demographics
– more sophisticated competitors
– overcapacity
• customer lifetime value
Key concepts in relationship
building
• Customer satisfaction
– perceived performance > expectations
• Customer loyalty and retention
– create emotional affinity, not just rational
preference
• share of customer
– cross-selling
Tools to build lasting
customers
• Frequency marketing programs
• affinity program
• co-marketing and co-branding
• customisation and prompt response
• create long term contract
• Frequency marketing programs
• affinity program
• co-marketing
• Co-marketing
http://www4.mercedes-benz.com/amgiwc/index.html?loc=en
• Co-branding
Sony Ericsson Mobile Communications was
established in 2001 by telecommunications
leader Ericsson and consumer electronics
powerhouse Sony Corporation. The company is
owned equally by Ericsson and Sony.
Meaning of consumerism
• a movement that put pressure on businesses
to consider consumer needs and interests
• consumer rights
–
–
–
–
right to be informed
right to be heard
right to safety
right to choose
Why consumers need
protection?
• Manufacturer may be unfair to consumers
• consumers may be unable to judge the
quality
• insufficient information to evaluate service
• advertisements are exaggerating
• concern about health
Consumer protection in Hong
Kong
• Legislation
• Consumer Council
Responses of businesses to
consumerism
• Provide more and better information
• improve product safety
• quicker response to consumer complaints
• provide customers with a wide range of
products and services
International marketing
• The process of
focusing the
resources and
objectives on global
market opportunities
Environmental forces in
International Markets
• Cultural environment
• economic environment
• political and legal environment
Standardization vs.
adaptation
Arguments for standardization
• reduce costs
• moving to a world living style
• international brand
Arguments for adaptation
• most exported goods needed adaptation
• take care of environmental differences
• max. sales and profits through customization
• favours local management inputs
Methods of entering overseas
market
•
•
•
•
•
•
•
•
Exporting
contract manufacturing
licensing
franchising
joint venture
strategic alliance
direct investment
countertrade
Factors affecting the choice of
entry strategy
• desired speed
• firm expertise
• costs
• flexibility
• resources
• profit objectives
Marketing in the case of
economic downturn
• moving down-market
• lowering price
• promoting image of good
quality and durable
• find new markets
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This production is sponsored by the
Contents of a Marketing Plan
• Situational analysis
• Marketing Objectives
• Selecting the Target
Market
• Developing marketing
mix
• Budget
• Controls
Product attribute decisions
• Product quality
• Product features
• Product design
Brand decisions
• To brand or not to brand
• Brand sponsor
– manufacturer’s brand
– private brand
– Licensed brands
– Co-brands
• Brand equity
• High level of consumer awareness, loyalty
• Lower marketing costs
• Consumer expect stores to carry the brand
• The company has more bargaining power
in channeling
• High credibility
• Easily launch brand extensions
• Powerful brand
• Defense against fierce price competition
Brand Strategy / Brand Development
– line extensions
– brand extensions
– Multi-brands
– new brands
Product
Brand
Existing
Existing Line
Extension
New
Brand
Extension
New
New
Brands
MultiBrands
• Brand Positioning
– Attributes
– Benefits
– Beliefs /values
• Create surprise, passion excitement
• Brand Re-positioning
• Competitor’s close positioning cutting market
share
• Customers’ wants may shift
• Technology
• www.euyansang.com
Brand Name selection
• Suggest benefits and qualities
• Easy to pronounce, recognize
• Distinctive, extendable
• Capable of registration and legal protection
Packaging decisions
• to create benefits: protection, economy,
convenience and promotion
• Major decisions:
– the main functions
– specific elements of package
– selecting the package design
Product-Support Services
Decisions
• deciding which product-support services
to offer
• how to deliver the services to customers
Cost-based approach
• Cost-plus Pricing
– to add a standard mark-up to the cost
• Breakeven analysis and Target Profit Pricing
Buyer-based Pricing
• base on the product’s
perceived value
Competition-based pricing
• Going rate pricing
– base on competitors’ price
Market-skimming pricing
• Set an initial high price
• after initial sales slow
down, it lowers the
price to draw in the
next price-sensitive
layer of customers and
so on
Penetration pricing
• set an initial low price
• seek to generate
consumer interest and
stimulate trial purchase
Types of distribution channel
1.
producer
customer
2.
manufacturer
retailer
consumer
3.
manufacturer
wholesaler
retailer
consumer
4.
manufacturer
agent
wholesaler
retailer
consumer
5.
manufacturer
agent
retailer
consumer
Factors affecting choice of
distribution channel
• Industrial goods vs. consumer goods
• no. of customers
• importance of control
• characteristics of products
• services
Determining the types of
middlemen
Wholesalers
• full-service merchant wholesalers
• limited service merchant wholesalers
• manufacturer-owned wholesaler
• agent
Retailers
• store retailing
• nonstore retailing
Factors affecting the choice of
middlemen
• Manufacturer requirement
• costs
Determining the intensity of
distribution
• Intensive distribution
• exclusive distribution
• selective distribution
Observational Research
• Observing relevant people, actions and
situations
• unwilling or unable to provide
• limitations:
– feelings, attitudes and motives, or personal
behaviour
– long-run or infrequent behaviour
Survey
• Find out people knowledge, attitude,
preference, or buying behaviour
• gather descriptive information
• structure or unstructured
• Flexibility
• however:
– cannot remember
– privacy
– time pressure
– appear to be smart
– pleasing answer
Focus Groups
• Small group of people, led by a moderator
• opened discussion of a product/service or
buyer behaviour
• focus on specific problems or market
opportunities
Experimental Research
• Explain cause-and-effect relationships
between experimental (independent)
variables and dependent variables
Legislation - Ordinances
• Weights & Measure
度量衡條例
• Sale of Goods
貨品售賣條例
• Trade Descriptions
商品說明條例
• Control of Exemption Clauses
管制免責條款條例
• Toys & Children Products Safety
玩具及兒童產品安全條例
• Consumer Goods Safety
消費品安全條例