...Summary of Marketing Week 1: Chapter 1+8 and 4 Week 2: Chapter 5 and 6 Week 3: Chapter 9 and 10 Week 4: Chapter 3 Week 5: Chapter 11+12, 13 and 14 Week 6: Chapter 15 and 16+18 Week 7: Chapter 19 and 20 Chapter 1 - Marketing now Chapter 3 - Strategic marketing Chapter 4 - The market environment Chapter 5 - Consumer markets Chapter 9. Segmentation and positioning. Chapter 10. Competitive strategy. Chapter 15. Integrated marketing communications strategy. Chapter 19 - Managing market channels - Place Chapter 1 - Marketing now Definition: a social and managerial process by which individuals and group obtain what they want through creating and exchanging products and value with each others. or the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return. Old, “telling and selling”. Now, satisfying customer needs. Selling happens after product is produced, marketing starts much earlier and helps determining whether a profitable opportunity exists. “The aim of marketing is to make selling unnecessary.” Marketing process: create value for customer 1) Understand customer needs and wants 2) Design a customer-driven strategy 3) Construct an integrated marketing programme that deliver superior value 4) Build profitable relationships and create customer delight capture value from customer 5) Capture value from customer to create profits and customer equity ...
Words: 7242 - Pages: 29
...Case Analysis for Reed Supermarkets 1. Situation Analysis 1) Strengths： High differentiation High quality (the Top 2 on the quality index ) Emphasis on organic food and wide range of products Attractive stores Long hours Elegant serving-case displays Attentive customer service Leader in the regional market: 25 stores in operation and highest market share in Columbus The supermarket is a location based business and the location of the stores are good (in the areas with higher household income and population growth and lower employment rate compared to national average) Continuous growing revenue by an average of 1%-2% per years 2) Weaknesses: High price: the third lowest on the price index The target market is limited to peosperous customers The deterioriating brand image: the “Dollar Special” could confuse consumers and decrease Reed’s quality status Low margin: margin only occupies 2.1% of gross sales 3) Opportunities: American consumers become more health-conscious Growth of private label merchandises decreases the bargain power of manufacturers The resurgence of America economy in the future 4) Threats: Intense competition (Delfina, Whole Foods market, Aldi, Walmart, Sam’s club, Dollar stores) Decreasing customer loyalty in the industry: customers are cherry-picking and care more about the price during the economic downturn Dollar stores benefits from growth of private label merchandises with lower quality ...
Words: 807 - Pages: 4
...Bland Marketing Leads to Sleepy Sales Do you want to increase your company's revenue? Do you have the guts for it? If so, then marketing consultant Jon Spoelstra's new book, Marketing Outrageously, has arrived to add drive to your game plan. A former president of the New Jersey Nets (who increased the team's revenue by nearly 500 percent), and author of such marketing guidebooks as Ice to the Eskimos and Success Is Just One Wish Away, Spoelstra offers an amazing array of examples, suggestions, tips and steps toward increasing revenue through unconventional means. Throw out old-fashioned thinking about how to build and grow a successful business. Increasing revenue by marketing is Spoelstra's mantra - and the era of time-tested marketing methods has passed. Rubber Chickens If you want customers and clients to notice your company, Spoelstra says you have to step over the lines of political correctness and business as usual. For example, he once sent rubber chickens to hard-to-crack customers with season-ticket renewal requests tied to the legs. In another case, he mailed out season tickets in a wooden cigar box with the team's logo burned in the top and an "Owner's Manual" inside. "Marketing outrageously beats the hell out of marketing bland, time after time after time," the author writes. It might be harder to devise an outrageous marketing plan, but safe is not always the best way, and bland does not stand a chance against the chutzpah of outrageous. Focus on the Prize ...
Words: 606 - Pages: 3
...Executive Summary: Aldi is the consumers dream grocery store. Compared to the larger grocery stores Adli has the most affordable products. Aldi carries the most frequently purchased and most necessary products all under our own private brand names. Because we get our products from our own private suppliers we are able to give consumers the lowest possible price on all products. Even though we have lower prices our products meet and or exceed all the necessities of the big brand name products, including taste, quality, and the look of each and every product. Our goal is to make shopping more convenient and affordable for the consumers. We guarantee lower prices on a day to day basis, even lower then the sales prices at the bigger grocery stores. Customers’ saving is our biggest concern. Current Market Situation: With a slow economy not looking to speed up any time soon Aldi is in a very stable position in a market that is not very stable. Aldi has lower prices then all big name grocery stores. Since we sell quality products at a cheaper price, we will and can beat the competition. SWOT Analysis: Strengths- Aldi has good quality products from dry goods to produce at an affordable price. The stores are smaller and just have the most frequently purchased products that people buy, instead of overloading people with too many choices. Our stores are smaller which make it convenient for customers to find items much easier instead of having to run through a big store and finding...
Words: 612 - Pages: 3
...Marketing Management Preparing the literature: * Summarize the paper and discuss its core findings * Explain and define the core concepts (study variables) * Describe the contribution of the study (take away message) * Explain the reasoning/processes underlying the core predictions / hypotheses Analyse the research strategy * How did the authors attempt to answer their research questions? * What are the advantages/disadvantages of these strategies? * Put the respective research into a broader context? * Connect the study to practice – what is the applied value? * What are the conditions under which the study’s results are valid? * How can you transfer the results to other situations/applications? For the exam: Make a summary for every paper and learn this summary * 1 page per article * Answer the points mentioned on the last slide * Try to explain the paper to a third party in easy words * Check the tables: you should be able to find and interpret the core findings You don’t need to be able to: * Remember or describe the concrete statistical analysis methods (But you have to understand the core findings!) * Remember every single detail from the research design (But you should memorize the rough research approach!) * Remember every single construct in the conceptual model of a theoretical paper (But you should memorize some of them to be able to make examples and you should...
Words: 7540 - Pages: 31
...International Marketing Summary Chapter 1: Global Environmental Drivers Over the last few decades, international merchandise trade has expanded at astounding rates to reach $16.3 trillion in 2011. In addition, trade in services has grown at particularly high rates within the last decade to reach almost $3.7 trillion in 2010. As a result, nations are much more affected by international business than in the past. Global linkages have made possible investment strategies and marketing alternatives that offer tremendous opportunities. Yet these changes and the speed of change also can represent threats to nations and firms. On the policy front, decision makers have come to realize that it is very difficult to isolate domestic economic activity from international market events. Factors such as currency exchange rates, financial flows, and foreign economic actions increasingly render the policymaker powerless to implement a domestic agenda. International interdependence, which has contributed to greater affluence, has also increased our vulnerability. Both firms and individuals are greatly affected by international trade. Whether willing or not, they are participating in global business affairs. Entire industries have been threatened in their survival as a result of international trade flows and have either adjusted to new market realities or left the market. Some individuals have lost their workplace and experienced reduced salaries. At the same time, global business changes...
Words: 5426 - Pages: 22
...Summary Global Marketing A market-responsive approach Svend Hollensen Second Edition 2001 ISBN 0-273-64644-3 -1- PART 1 Chapter 1 THE DECISION WHETHER TO INTERNATIONALIZE Global marketing in the firm SME: small medium sized enterprises LSE: large scale enterprises Companies wit little international experience and a weak position in their home market have little reason to try to perform on global markets. Instead they should try to establish a stronger position on their home market. A firm that finds itself as a dwarf on the global market may seek ways to increase their net worth by seeking partners, suited for a buy-out on longterm. If a firm already has international competences, it can overcome some of it’s competitive disadvantages by going into alliances with companies representing complementary competences. If you are ready for global marketing or not is bases on two things: 1. The industry of your business (how global is / can it be) 2. The preparedness for internationalisation 1 can be divided into mature; adolescent; immature 2 can be divided in local; potentially global; global Given the character of a company in both segments, one of the nine possible strategies can be chosen. You can find these in figure 1.1 on page 4 of Global Marketing. Difference between management styles of LSE and SME: Many LSE have begun downsizing their companies operations, so in reality, many LSE act like a lot of small differ operations. It can be...
Words: 23992 - Pages: 96
...Presently, sports celebrities play more important role in advertising and marketing. For Bush, Martin and Bush’s article, based on customer socialization and previous findings, they make four hypotheses: 1) Teenagers' athlete role model influence is positively related to product switching and complaint behavior; 2) Teenagers' athlete role model influence is positively related to favorable or positive word-of-mouth behavior; 3) Teenagers' athlete role model influence is positively related to brand loyalty and 4) Female teenagers' athlete role model influence is more positively related to (a) product switching and complaint behavior, (b) favorable word-of-mouth behavior, and (c) brand loyalty than male teenagers. After test the hypotheses, they found that 1) teens' athlete role model influence is not significantly related to product switching or complaining behavior; 2) athlete role model influence is positively related to teenagers' favorable word-of-mouth communications; 3) the results show that athlete role model is positively related to teenagers' brand loyalty; and 4) there are no significant differences between male and female members of Generation Y when it comes to athlete role model influence on product switching and complaint behavior. For marketers, they should realize that celebrity sports athletes are important to adolescents when they make brand choices and talk about these brands positively. Moreover, regardless of their public behavior, teenagers do consider athletes...
Words: 752 - Pages: 4
...by Sanchai Khammaha (5849102) STRATEGIC MARKETING MANAGEMENT (MGMG 508) Marketing Basics The Marketing Frame Work Customers SITUATION ANALYSIS (5Cs) Company Competitors Collaborators CREATING VALUE (STP) Targeting Segmentation Product Climate Positioning CAPTURING VALUE (4Ps) Place Price Promotion SUSTAINING VALUE (CRM) Customer Acquisition Custormer Retention PROFIT Situation Analysis (5Cs) Analyze market situation → Consider internal and external factors → identify opportunities, threats 5Cs framework 1. Company – What is the firm’s competency? → SWOT 2. Customers ื้ – Who are they? Market Size? (Maybe Consumer ≠ Consumer; แม่ซอ ผ ้าอ ้อมให ้ลูก) 3. Competitor – Who are serving the same needs (Direct & Indirect) 4. Collaborators – Supportive network 5. Climate/Context – Environmental, Market (Political, Economic, Social impact, Technology) Create Value (STP) Identify the various market need and select one or more to develop the positioning for the product (There are 3 Steps). 1. Segmentation – Grouping consumers with similar needs. o Demographic → Personal attributes such as age, marital status, gender, ethnicity, sexuality, education, or occupation. o o o Geographic → by country, region, state, city, or neighborhood. Psycho-graphic → by personality, risk aversion, values, or lifestyle. Behavioral → by how people use the product, how loyal they are, or the benefits that they are looking for...
Words: 7862 - Pages: 32
...Samenvatting International Marketing: college(s)2011/2012 Tilburg University | Marketing Management | International Marketing Verspreiden niet toegestaan | Gedownload door: Jolien De Klerk | E-mail: joliendeklerk@hotmail.com SAMENVATTING INTERNATIONAL MARKETING 2011/2012 Week 1: Introduction to global marketing Marketing = an organization function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders. Global marketing = focus with recourses and competencies on global market opportunities and threats. The difference is de scope of activities. A global company conducts important activities outside the home-country market. Deze globalisatie activiteiten kunnen met alle groeistrategieën plaatsvinden: Companies that understand and engage in global marketing can offer more overall value to consumers than companies that do not have that understanding. The discipline of marketing is universal. It is natural however that marketing practices will vary per country, for the simple reason that the countries and peoples of the world are different (preferences, competitors, channels and communication media). The differences mean that a marketing approach that has proven successful in 1 country doesn’t mean that this will work in another country. An important thing is to recognize the extent to which it is possible to extend marketing plans and programs worldwide...
Words: 18459 - Pages: 74
...MNM3025/101/3/2012 Tutorial Letter 101/3/2012 Marketing research MNM3025 Semester 1 & 2 Department of Marketing and Retail Management This tutorial letter contains important information about your module. Bar code MNM3025/101 CONTENTS 1. 2. 3. 4. 5. 6. 7. 8. 9. Introduction and welcome Purpose and outcomes of the module Lecturer and contact details Module related resources Student support services for the module Module specific study plan Assessments Examination Concluding remarks Page reference guide Assignments Additional reading list Appendix A. Appendix B. Appendix C. 1. INTRODUCTION AND WELCOME We are pleased to welcome you to this module in customer service and hope that you will find it both interesting and rewarding. We will do our best to make your study of this module successful. You will be well on your way to success if you start studying early in the semester and resolve to do the assignments properly. You will receive a number of tutorial letters during the semester. A tutorial letter is our way of communicating with you about teaching, learning and assessment. Tutorial Letter 101 – this tutorial letter – contains important information about the scheme of work, the assignments and guidelines for preparing and submitting the assignments for this module. Furthermore, the prescribed study material and other resources and how to obtain it are provided further on. We have also included general information about this module, as well as administrative...
Words: 7706 - Pages: 31
...Running head: PERCEPTUAL MAPS IN MARKETING SUMMARY Perceptual Maps in Marketing Summary Name University Perceptual Maps in Marketing Perceptual mapping can be summarized as the discipline of comparing products based on the perception of potential customers in the marketplace. The goal of this practice is to allow product marketers to build a stronger understanding of customer viewpoints and opinions on brands, advertising campaigns, and new market offerings. By developing a visual map of customer reactions and perceptions, a company can fine-tune their overall marketing strategy and position their image relative to competitors. The week four simulations provided a detailed example of how a motorcycle company can use perceptual mapping to make decisions related to their brand and products. The Simulation In the simulation, Thorr Motorcycles offers a variety of products to the motorcycle riding community. Products were placed on a graph and compared to similar products offered by their closest competitors, which provided a visual image of the product relationships. Each scenario required the choice a solution to improve sales of the product being analyzed. The first scenario was centered on an existing motorcycle know as the Cruiser Thorr, which has been declining in sales. This would be considered an example of a product that has reached the end of the product life cycle. In the past, this product had been marketed towards an older demographic who is no longer purchasing...
Words: 1234 - Pages: 5
...E-Marketing summary Chapter 1 Senders: Consumers send tens of millions of messages and put millions of photographs and videos online. They think and work according to tried and trusted patterns. Utilization of customer date builds up a lot of experience for direct marketers. Wehkamp placed the first direct response advertisement on TV magazines. (direct response: consumers can order directly from there) Direct marketing tools used by: mail order companies, insurance companies, training institutes, banks, the automotive industry, fund raisers, publishers, thousands of commercial product and service suppliers.( sort: direct mail, telephone, email , internet) Producers of fast moving consumers goods use: Mass media: newspapers ,door-to-door, flyers, radio, TV. In mass communication the marketers are usually the senders. Previously feedback is being tracked by clicking behavior an actual responses. The well- informed 21st century consumer knows where to find information and, together with other consumers, is proving greater transparency than ever. Digital communication: Internet, e-mails and Sms. It has been reported that the number of communication has increased by between 70 and 250 times during the course of a single generation. Meaning that the recipient’s brain is much more strong than before – messages can be read and understood completely differently from what the marketer had in mind, which can produce unexpected and unintended effects. The filters that recipient...
Words: 3102 - Pages: 13
...Strategic Marketing Lecture part 1 Recources: assets and capapilities (customer-based assets, supply chain assets, internal marketing support assets, alliance-based marketing assets) (Advertising, promotion and selling; pricing and tendering; product and service management; distribution and logistics) Adaptive Marketing Capabilities: Focus Outside-In, Anticipate and respond Dynamic Marketing Capabilities: Focus Inside-Out, Create new assets External Factors: Macro-environment: PESTEL (Political,Economic,Social, Technological, Environmental,Legal) ! Focus on key driving factors of change ! Scenario-Analysis: uncertainty, plausible view of future, danger: not looking at extreme scenarios (useful when number of key factors limited and high level of uncertainty) Industry: group of firms that produce same principal product Sector: concept for public services Strategic groups: Scope of activities (e.g. distribution) Resource commitment (e.g. brands) knowing strategic groups: + understand competition + analyse opportunities + analyse mobility barriers → take into account action and reaction of your competitors Market segments: groups of customers with similar needs → what is important to reach segment? → Importance of relative strenghts SWOT and TOWS: strengths, weaknesses, opportunities and threats - with a TOWS analysis, threats and opportunities are examined first and weaknesses and strengths are examined last. After creating a list of threats, opportunistic...
Words: 374 - Pages: 2
...Chapter 1 - Defining Marketing for the 21st Century Questions to be answered 1. Why is marketing important? 2. What is the scope of marketing? 3. What are some fundamental marketing concepts and new marketing realities? 4. What are the tasks necessary for successful marketing management? Reviewing important marketing concepts, tools, frameworks and issues. The Importance of marketing * Creating demand * Introduce and gain acceptance of new products * Increasing demand creates jobs * Allow firms to more engage in socially responsible activities The scope of marketing Marketing is about identifying and meeting human and social needs. 1. Meeting needs profitably Marketing is the activity, set of institutions, and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners, and society at large. We see marketing management as the art and science of choosing target markets and getting, keeping and growing customers through creating, delivering and communicating superior customer value. Important part of Marketing (Peter Drucker) The aim of marketing is to know and understand the customer so well that the product of service fits him and sells itself. Ideally, marketing should result in a customer who is ready to buy. All that should be needed then is to make the product or service available. What is marketed Marketers market 10 main types of entities: * Goods...
Words: 2406 - Pages: 10
