1MarketingLecturer:ElvisFallSemester,2007SyllablesStudentswill:1.participateinavarietyofclassroomactivities(Casestudy;Q&A;Presentation;Role-play);2.marketresearchandnegotiation3.have3-5testsandquizzes;4.dowellinhomeassignments(Researchreports).2SyllablesMarksfordailyperformanceswillbeawardedaccordingto:1.classroomattendancy25%(alossof10foroneabsence);2.individual/grouppresentation25%;3.testsmarks25%(anaverageofthose3-5tests);4.classroomparticipationandhomeassignments25%.34Lecture1

MarketingBasicsOutlineMarket,Marketing,Sales(selling)ThedevelopmentofMarketing5Lecture13.MarketingPlan4.ExchangeandTransaction5.DemandandSupply7.MarketingProcedure8.ChangingEmphasisofModernMarketing6MarketLatinmercarimeaning“tobuyortrade”,latermeans“goods”Marketisanywherethatgoodsorservicesmaybesoldortraded.(asimpleopen-airexchangeoffarmproducts)Anentireeconomy(EuropeanMarket)Anebulouscommercialfunction(StockMarket)DefinitionofMarketThesimplestwaytodefineamarketistothinkofitasconsistingofallthepeopleororganizationsthatmayhaveaninterestinpurchasingacompany’sproductsorservices.

Inotherwords,amarketcomprisesallcustomerswhohaveneedsthatmaybefulfilledbyanorganization’sofferings.

7DefinitionofMarketYetjusthavinganeedisnotenoughtodefineamarket.Discussion8DefinitionofMarketThefirstfactoristhatmarketsconsistofcustomerswhoarequalifiedtomakeapurchase.

Qualifiedcustomersaredefinedasthosewho:seekasolutiontoaneed,andareeligibletomakeapurchase,andpossessthefinancialabilitytomakethepurchase,andhavetheauthoritytomakethedecision.9DefinitionofMarketAsecondfactorfordefiningamarketrestswiththecompany’sabilitytoservicethemarket.

Toanorganizationamarketcanonlyexistifthesolutionssoughtbycustomersareonesthatthecompanycansatisfywiththeirofferings.10DefinitionofMarketTosummarize,amarketisdefinedasagroupofcustomerswhoarequalifiedtomakepurchasesofproductsorservicesthatamarketerisabletooffer.

However,evenifanorganizationcanofferproductsandservicestoamarket,notallmarketswillfitanorganization’sgoalsandobjectives.

Theorganizationmustcreatecustomerswhowanttherightthingsitoffers.1112Marketing1912<Marketing>HojertThemanagementprocesswhichidentifies,anticipatesandsatisfiescustomerrequirementsefficientlyandprofitably.西方市場營銷學(xué)者從不同角度及發(fā)展的觀點(diǎn)對市場營銷下了不同的定義。

13MarketingMacroviewE.J.Mccarthy把市場營銷定義為一種社會經(jīng)濟(jì)活動過程，其目的在于滿足社會或人類需要，實(shí)現(xiàn)社會目標(biāo)。

PhilipKotler指出“市場營銷是與市場有關(guān)的人類活動。市場營銷意味著和市場打交道，為了滿足人類需要和欲望，去實(shí)現(xiàn)潛在的交換”14MarketingMicroViewMarketingistheprocessofplanningandexecutingtheconception,pricing,promotionanddistribution,ofideas,goodsandservicestocreateexchangesthatsatisfyindividualandorganizationalobjectives.(TheAmericanMarketingAssociation)15Sales(selling)Sellingisapartofmarketing,animportantpart.Salesoccurwhengoodsorservicesare“givenover”toacustomerinexchangeformoneyoranothervaluableconsideration.Sellingisaboutpersuadingcustomerstobuy.Itmaybeahardsellingorasoftselling.16Marketingisaprocessandsalesisaresult.Whenasalesiscomplete,acompanymustprovidefollow-upserviceinanefforttomaintainsatisfactionandpromotefuturesales.

TheDifferenceBetween

MarketingandSelling

Sellingisapartofmarketing,animportantpart,butmarketingisnotallaboutselling.Marketinginvolvesanythinganorganizationdoesthatgetsitoritsbusinessinfrontofsomeonewhoisinterestedinwhatthebusinesscandoforthem.17TheDifferenceBetween

MarketingandSellingSellinginvolvespersonalcommunicationbetweenanorganizationanditspotentialcustomerthathelpsthembothdecideiftheyshoulddobusinesstogether.Whenanorganizationdoessomethingthatcreatesawarenessofitsbusinessitismarketing.Whenanorganizationtalkswithsomeonedirectlywhohasexpressedinterestinitsbusiness,itisselling.1819ThedevelopmentofMarketingWhendidmarketingtakeplace?Supplyled:shortagesofgoodsmeanthatsupplierscandictatetermsofbusinessAmajorchange:agentsandshopkeepersinbetween(intermediaries)Demanddriven:asurplus,orpotentialsurplus,ofgoodstobesoldgivesbuyersmorepower.20Technologycontinuedtoimprove,suppliersnowhavetocompeteforcustomers.Goodmarketingskillsareneeded.Decidingfactorsofmodernmarketingbreakthroughsinproductiontechnologyadvancesinthetechnologyfortransportinggoodssocialchangessuchasthemoveawayfromthecountrysideandintotownsincreasedcompetition.2122MarketingPlanThemarketingplanisadetailedschemeofhowacompanywilldesignate,access,sellto,andserveaspecificconsumergroup.23WhatisMPabout?SituationAnalysis(SWOTetc.)GoalsStrategyTactics(detailssuchaswho,when,4Ps)BudgetManagementandcontrolHudsonRiverGroup24

ExchangeandtransactionMarketingisaboutmanagingtheexchangeprocess.(exchangevalues)Theremustbetwopartiestoanexchange:thesellerandthebuyer.Eachwantstoexchangesomethingforsomethingelsethattheyvaluemore.(e.g.customerofcarandcardealer)25Demand&SupplyInasupply-ledmarket,themostsuccessfulcompanieswillbethosethatarethemostefficientproducers.Inademand-drivenmarket,itisthejobofmarketerstostimulatedemand,toprovidethegoodsandservicesthatpeoplewant,andtopersuadethemtobuy.26MarketingProcedureValueFinding----ValueProviding----ValueCommunicating(發(fā)現(xiàn)價(jià)值---提供價(jià)值---溝通價(jià)值)ValueFinding:Segmentation,Targeting,Positioning(STP)ValueProviding:Productdevelopment,Pricing,DistributionValueCommunicating:Promotion,Advertising27Marketing’schangingemphasisInmodernmarketingtheoriginalideaofanexchangehasbeenpushedtoitslimits.Marketingstretchesfarbeyondthesellingofgoodsandservicesintoalmostallaspectsoflife.Forexample…2829Marketing’schangingemphasisGoodmarketingpracticetodayinvolvesthinkingbeyondtheone-offsale.Astrongbrandimage.RelationshipmarketingItisalongterm,continuousseriesoftransactionsbetweenparties.Anothernewtrendisaboutmarketing’se-focus.Marketing’schangingemphasisthegradualcenteringonmarketingethics.Ethicsreferstothestudyofmoralprinciples,or“rightandwrong”;thereforemarketingethicsisallaboutmarketersdoingthe“rightthing”.30severalbasicprinciplesTakingresponsibility:marketersneedtotakeresponsibilityfortheirproductsandtheirdecisions.Dealingfairly:marketersneedtobehonestandfairintheirdealingswithallstakeholders.Respectingconsumerrights:includingtherightofredress,therighttoinformationandtherighttoprivacy.3132Summary:MarketingMixProductPricePlacePromotion33Summary4P’sareinterdependent(eachdependsontheothers)4P’sconstituteyour"MarketingStrategy"Productisthemostimportant"P"Youmust"own"yourmarket(defineitsoyoucanleadit)Week2

ProductandBrand(1)

——GeneralIntroductionEchoOutlineThedefinitionofproductWhentomakenewproductFinancingandproductdevelopmentTheproductcycleThedefinitionofbrandMoreaboutbrandThedefinitionofproductProductisanythingwhichcanmeettheneedsandwantsofmarket.Consumerpayforsomethingnotbecausetheywouldliketoownthe“body”ofit,butbecausetheirneedscanbesatisfied.ThedefinitionofproductCoreproduct-----Basicproduct-----Expectedproduct-----Additionalproduct-----Potentialproduct產(chǎn)品的層次從核心產(chǎn)品(基本功能)向基礎(chǔ)產(chǎn)品(產(chǎn)品的基本形式),期望產(chǎn)品(期望的產(chǎn)品屬性和條件),附加產(chǎn)品(附加利益和服務(wù))和潛在產(chǎn)品(產(chǎn)品的未來發(fā)展)拓展。Financingandproductdevelopment

Abrieflistingofwaysinwhichmarketerscanobtainfinancingforproductresearchanddevelopment.JointVentureVentureCapital(VC)InvestmentBanksInternationalAgenciesPrivateFinanceTheProductCycleItisthesumtotalofthestagesinthemarketingexistence(or“l(fā)ife”)ofaproduct.Thestagesare:development,introduction,growth,maturity,anddecline.Introduction:hugeexpense,almostnoprofitTheProductCycleGrowth:Theproductisacceptedbythemarketandmoreprofitisearned.Maturity:SevereCompetitionleadstomorepromotionexpense,profitisgoingtodecline.

Howtomaintainorprolonggrowthandmaturity?Decline:Bothsalesvolumeandprofitisdropping.TheProductCycleThoseproductsthatareactivelycaredforandsubjectedtotherightpreventivemeasureshaveastatisticallylongerlifespanthanthoseleftexposedtotheuncheckedvagariesofthemarketplace.TheDefinitionofBrandAbrandisthedistinctivenameordesign(logo,package,trademark,etc)thatbecomesarecognizedmarketplaceimage,awayforbuyerstodistinguishaproductfromitscompetitors.品牌指能為顧客提供其認(rèn)為值得購買的功能利益及附加價(jià)值的產(chǎn)品.MoreaboutBrand(1)Theestablishmentofastrong,positivebrandimagecanactuallyenhancethevalueofacompanyandisconsideredatthispointtobebrandequity.Brandequity(品牌資產(chǎn)):一個(gè)品牌的資產(chǎn)與負(fù)債,操作性的價(jià)值,延伸,發(fā)展的籌碼或可能性.MoreaboutBrand(2)TheadvantagesofgoodBrandEquity:UpgradeconsumerconfidenceUpgradeconsumersatisfactionUpgradetheeffectivenessofpromotionUpgradebrandloyaltyMoreaboutBrand(3)5.Increaseprofit6.Upgradebrandextension7.UpgradecompetitionadvantagesProductandBrand(2)EchoOutlineThenewproductdevelopmentprocessProductportfolioanalysisReviewTheproductlifecycleThenewproductdevelopmentprocess(1)Ideastage(generationofideas)Therearemanywaystobringforwardnewideas:frombrainstormingtoestablishingoriginalresearchfacilities.Thenewproductdevelopmentprocess(2)Conceptstage(developandtesttheproductconcept)Thisstageinvolvestheproductionofdrawings,descriptionsandtheoreticalmodelstoseewhetheranideaworks.Thenewproductdevelopmentprocess(3)Productdevelopmentstage(Pilotproduction)Itisthetimetomakeoneorasmallnumberoftheproductstoevaluateproductioncapabilities.Thenewproductdevelopmentprocess(4)Testmarketingstage(sellsomeandtestcustomerreaction)Theidea,aswellasalltherelatedmarketingmixactivities,nowcanbesoldtoasmallselectedmarket.Thenewproductdevelopmentprocess(5)Evaluation(tolaunchornottolaunch)Thisisacrucialactivitythatseekstoeliminatethoseideasthatdonotpassthetestsasearlyaspossible.TheCostsoftheNewProductDevelopmentProcess(1)$(2)$$(3)$$$(4)$$$$(5)$$$$$ProductPortfolioFewcompaniesselljustoneproduct;somesellthousands.Theirproductsarecollectivelyreferredtoastheproductportfolio.ProductPortfolioManagementItisahugemarketingchallenge.Byusinganumberofportfolioanalysistoolscanmarketerjudgeaproduct’scontributiontotheoverallportfolioandtodecidewhatcourseofactiontotakenext.

ProductPortfolioAnalysisBostonConsultingGroupMatrix(BCGmatrix)Thismodellooksatthegrowthofthemarketandtherelativesharethecompanyhasofthatmarket.StarStarStarproductsandservicesareinrapidlygrowingmarketsinwhichthecompanyhasahighrelativemarketshare.E.g.Sony.HSBC.Theyaregoodinvestmentsastheyhavehighearningpotentialbothatthepresenttimeandinthefuture.CashCowCashCowAbusinessorproductwhichgeneratesasteady,dependableflowofcash.Typically,suchbusinessunitsoftenhavelargesharesofmarketswhichofferlittleopportunityforgrowthandlittleincentiveforcontinuedinvestmentinmarketingorproductdevelopment.ProblemChildProblemChildProductsinthisquadrantarethoseinarapidlygrowingmarketbutinwhichthecompanyhasasomewhatlowerrelativemarketshare.Sometimescalledquestionmarksorwildcats.ProblemChildThemarketlooksattractive.Justmaintainingcurrentmarketsharewillincreasesalesasthecompanywouldhavethesamepercentagebutofabiggermarket.ProblemChildHowever,thecompanymaybeunsurehowthemarketwilldeveloporwhetheritcangenerateoracquireenoughcustomersfromcompetitorstomakeinvestmenthereworthwhile.DogDogDogareinslow-growingmarketsinwhichthecompanyhaslowrelativemarketshare.Whenadoggetsolditcaneitherbeputtosleep,orbecomeaneffectivebarriertomarketentrybycompetitors.SummaryStar:Relativelyhighmarketshareinahigh-growthmarketCashcows:Relativelyhighmarketshareinlow-growthmarketsProblemchildren:Relativelylowmarketshareinhigh-growthmarketsDog:Relativelylowmarketshareinlow-growthmarketsSummaryMilkthecow,tofeedtheproblemchildinthehopethatitwillgrowtobeastar.Andshoottheolddog.Theyareinterchangeableunderdifferentmarketcircumstances.Week5

ProductandBrand(3)EchoReviewQuestionsTheproductlifecycleThenewproductdevelopmentprocessProductportfolioanalysisBrandViewBrandEquityBrandImageBrandIdentityBrandPersonalityBrandPersonalityAttheheartofabrandisitsbrandpersonality.Itisthesumofitsvalues,itscharactertraits.E.g.elegant,friendly,young.BrandIdentityThebrand’spersonalityhastobeputacrosstotheoutsideworldandthisisdonebymeansofthebrandidentity.E.g.logo,name,colorandpackage.BrandImageThetargetaudience’sperceptionofthebrandmaybedifferenttowhatwasintended.Theaudienceperceptionofthebrandiscalledthebrandimage.Thisiswhatpeoplereallythinkofthebrand.BrandEquityItisavalue.TosumupThebrandpersonalityisputacrossthroughsymbolsknownasthebrandidentityandthesecreateabrandimageinthemindsofthetargetaudience.Ifthewholeprocessissuccessful,itcancreatevaluablebrandequity.QuestionDobrandpersonalityandbrandimagealwaysbethesamething?Q&AWhatarethebrandpersonalityofthefollowingbrands??LogoOriginTheideaofsellingacomputerunderthenameandimageofafruitwasconceivedbyCalifornianSteveJobsandhiscolleagues.LogoOriginThelogorepresentsawhitepropellerbladeagainstabluesky.ItreflectstheoriginsofBMWasamakerofmilitaryaircraftenginesduringWWI.Also,whiteandbluearethetraditionalcolorsofBavaria.LogoOriginTheCoca-Colascriptwasdesignedbyanamateur,FrankRobinson,thefledglingcompany'sbookkeeper.Thebottleisamongthemostrecognizableiconsintheworld,adesignthathascometosymbolizetheyouthfulexuberanceofAmerica.LogoOriginTheMcDonald'sGoldenArcheslogowasintroducedin1962.ItwascreatedbyJimSchindlertoresemblenewarchshapedsignsonthesidesoftherestaurants.Hemergedthetwogoldenarchestogethertoformthefamous'M'nowrecognizedthroughouttheworld.

LogoOriginThelogorepresentsthewingoftheGreekGoddess.LogoOriginThesiren(sometimesreferredtoasamermaid)intheStarbucks'logochangedovertheyearsduetopoliticalreasons.Inthecurrentversion,thenavelisnotvisible./jMA03Summer/theMermaid.htmlLogoOriginThecompanynameSonywascreatedbycombiningtwowords.Oneis'sonus'inLatin,whichistherootofsuchwordsassoundandsonic.Theotherissonnymeaninglittleson.ThewordswereusedtoshowthatSonyisaverysmallgroupofyoungpeoplewhohavetheenergyandpassiontowardunlimitedcreation.BrandingAstrategytodifferentiateproductsandcompanies,andtobuildeconomicvalueforboththeconsumerandthebrandowner.(PicktonandBroderick,2001)BrandingasamarketingtoolTheachievementofcustomersatisfactionismorecrucialtosuccessthanproductionorselling.Thechallengeistoobtainacustomerinthefirstplace,andtohangontotheminthefuture.BrandingasamarketingtoolTheappearanceofthebrandonaproductsimplifiestheshoppingprocess.Ifaparticularbrandhasservedthecustomerwellinthepast,theywillassumethatitcanbeexpectedtodosointhefuture.BrandingasamarketingtoolGoodexperienceofabrand=ahappycustomerwhocontinuestopurchaseBadexperienceofabrand=anunhappycustomerwhomayrejectfutureofferingsbearingthisbrand.(whatistheworse?)BrandingasamarketingtoolThedevelopmentofabrand:Attractionandretention.Thebrand-customerrelationshipCentraltoanyefforttoestablishorgrowabrandisthestrengthoftherelationshipdevelopmentbetweenthecustomerandthebrand,sometimesnotnecessarilywiththebrandowner.E.g.Marlboro.Thebrand-customerrelationshipBrandLoyaltyCustomerswillconsistentlychooseyourbrandoveranother.Loyaltycanbedestroyedmuchmorequicklythanitcanbeestablished.(Howtomaintain?)BrandingStrategiesCo-brandingItiswhentwocompanies’brandnamesappeartogether.E.g.“Intelinside”onPCBrandingStrategies

MultibrandingItisastrategythathasmultipleproductswithinthesamecategory.Thisgivesthecustomertheillusionofchoice.E.g.P&GBrandingStrategiesLineextensionUsingthebrandnameonproductswithinthesamecategory(e.g.)BrandextensionUsingthebrandnameonproductsinanewcategory(e.g.)BrandingStrategiesSummaryItisimportantthattheideaofthebrandisnotlimitedtotheactualproduct.Itshouldbepartofthewholeexperience.Abrandpromiseismadetothecustomer.Fulfillingthatpromise,evenexceedingit,isakeypartofbrandmanagement.Week6

MarketEntryEchoOutlineGeneralIntroductionMarketResearchPublicRelationships(PR)GeneralIntroductionEveryMarketpresentswould-beentrants.GovernmentMarketer’sabilityMarketResearchDefinitionMarketingresearchisthedevelopment,interpretation,andcommunicationofdecision-orientedinformationtobeusedinallphasesofthemarketingprocess.AnotherDefinitionMarketresearchistheprocessofgatheringasmuchinformationaspossibleaboutyourcustomersandhowtheyviewyourcompanyandproducts.Withenoughinformation,youcandeterminethebestmarketingstrategyforyourbusiness.

Why?Tobesuccessful,companiesmustdevelopandmarketnewproductsmorequicklythaneverbefore.Thisrequiresresearchtomonitorcustomer’sneedsandtofindoutwhatcurrentandpotentialcompetitorsaredoing.Why?

Marketingactivityisbecomingincreasinglycomplexandbroaderinscopeasmorefirmsoperateinbothdomesticandforeignmarkets.Enteringaforeignmarketrequiresinformationonbusinesspracticesandcustoms.(globally)How?Step1?Determinethegoalofyourresearch.How?Step2?Usetradejournals,marketingmagazines,governmentreportsandchamberofcommercemarketprofilestodeterminethedemographicsofyourmarket.How?Step3?Conductmailandtelephonesurveys.How?Step4?Collectinformationfromexistingcustomers.How?Step5?ObservecustomersatvariouspointsofcontactinyourbusinessHow?Step6?Analyzeyoursalesrecords.How?Step7?Organizetheresearchdatayou'vecollected.TipsGiveyourcustomersanincentivetofilloutaquestionnaire.Makequestionnaireseasilyunderstoodandasshortaspossible.

Example:TipsInterviewyouremployees.TipsHireamarketresearchfirmifyoudon'thavethetimeordesiretodoityourself.Warning?Noresearchcanpredictthefuturewith100percentaccuracy.

PublicRelations公共關(guān)系(1)DefinitionItisanyoftheactivitiesacompanyperformsinordertomaintainitsimagewhilepromotinggoodwilltowarditsproductsandpersonnel.Positioningispartofthisimagemaintenance.PR(2)NecessityTheimageofacompanyisn’tentirelyunderitsowncontrol.Themediacanbeaverypowerfultoolbothforbuildinganimageanddestroyingit.PR(3)OccasionPReffortmuststartpriortoactualentry.E.g.artpatronage,educationprograms,sportsteamsponsorshipMarketingcommunications

Promotion(1)EchoOutlineGeneralintroduction(6)DefinitionofpromotionPurposesofpromotion(4)Promotionstrategy(5)GeneralIntroduction-1Marketingcommunicationisnecessarytomakecustomersawareoftheexistenceoftheproduct,helpcreateitsbrandidentityandpersuadethemtotryit.GeneralIntroduction-2Nomatterhowgoodyourproductis,ifpeopledonotknowitisgood,thentheywillnotbuyit.Nomatterhowgoodyourpromotionis,ifyourproductispoor,thenpeoplewillnotcontinuetobuyit.GeneralIntroduction-3Therearemanypotentialpromotionaltools:AdvertisingPublicrelations(PR)SalespromotionPersonalsellingGeneralIntroduction-4AdvertisingItispaid-forpromotionalmessagescarriedbythemass-media.(TV,radio,press,cinema,poster,Internet)GeneralIntroduction-5PRSalespromotionTheyarespecialoffersandotheradded-valueactivitiesintendedtoinducebuyerstobuy,ortry,aproduct.E.g.twoforthepriceofone,money-offcoupons.GeneralIntroduction-6PersonalsellingItisthemostpersonalofthepromotionaltools.Itinvolvespersuadingcustomersofthebenefitsofproductsandservices,usuallyonaone-to-onebasis.(b2b)DefinitionofPromotionItreferstocommunicationdesignedandimplementedtopersuadeotherstoacceptideas,conceptsorthings;tomotivatecustomersandconsumerstotakeaction.PurposeofPromotion-1DifferentiatePromotioncanactasadifferentiatorofproducts,especiallyinmarketswheretherearemanysimilarproducts.PurposeofPromotion-2RemindItremindspeoplewhoalreadybuyaproductofreasonswhytheyshouldcontinuetodoso.PurposeofPromotion-3InformItprovidesagreatdealoffactualinformationaboutproductsandplacesofbusinesssuchaswhereashopislocated.PurposeofPromotion-4PersuadePersuasionisaprimarygoalofpromotionandencouragespurchasesorchangesinattitude.PromotionStrategy-1PromotionobjectivesmustbeSMART.Specific:novaluetermsorambiguityMeasurable:capableofbeingassessedPromotionStrategy-2Achievable:possiblewithinresourceconstraintsRelevant:contributetocorporateobjectivesTimed:havetimingsassociatedPromotionStrategy-3PushStrategy推動策略Apushstrategyinvolvesagreaterrelianceonpersonalsellinganddirectcontactwithconsumers.主要是運(yùn)用人員推銷和銷售促進(jìn)手段將產(chǎn)品推向市場,從制造商推向批發(fā)商,從批發(fā)商推向零售商,直至最終推向消費(fèi)者.PromotionStrategy-4Itismorecommonwhentheproductiscomplexinnature,requiresagooddealofafter-saleservice,andmustbemarketedinareaswheretheamountofadvertisingmediaisseverelylimitedortooexpensive.PromotionStrategy-5Pullstrategy拉引策略運(yùn)用廣告和公共宣傳手段,著重使消費(fèi)者產(chǎn)生興趣,刺激購買者對產(chǎn)品的需要,進(jìn)而推動消費(fèi)者向中間商訂購產(chǎn)品,然后由中間商向企業(yè)訂購產(chǎn)品,以此達(dá)到向市場推銷產(chǎn)品的目的.PromotionStrategy-6Itcanbeappliedwhenaproductiswidelyused,lackscomplexity,whenthedistributionchannelisextensive,andwhenmasscommunicationmediaarereadilyavailable.MarketingPlan

EchoMarketingPlan

DefinitionItisadocumentarymemorandumansweringallthestepstakenandproceduresofamarketingactivity.How?Youcandevelopamarketingplanforyourbusinessbyansweringthefollowingquestions:Whoareyourcustomers?Defineyourtargetmarket.

How?2.Areyourmarketsgrowing?steady?declining?

3.Isyourmarketsharegrowing?steady?declining?4.Howisyourmarketsegmented?

How?5.Areyourmarketslargeenoughtoexpand?

6.Howwillyoupromoteyoursales?

7.Whatpricingstrategyhaveyoudevised?

TipsBeforeyougetstarted,dotheSituationAnalysis.DescribeyourTargetAudience.DefineyourGoals.TakeBudgetintoconsideration.In-classAssignmentAfriend’sbookshopisnotdoingaswellasitusedto.It’sinagreatlocationbutInternetbookshopsarejustsomuchcheaper.Howcanshemakebetteruseoftheshoptoattractmorecustomersinandmaketheoneswhoaretherespendmore?Week11

BuyerBehaviorEchoZHANGTheconsumerbuyer

decisionprocessThebuyerdecisionprocessNeedorprobleminformationsearchevaluationofalternativesPurchasedecisionpost-purchaseevaluationNeedorproblemActualstateDesiredstate

perceiveddiscrepancyproblemrecognition

InformationsearchItinvolvesidentifyingthevariouswaystheneedorproblemcanbesatisfied.Itmaybeinternalorexternal.Internal:accessmemoryandusepreviousexperienceInformationsearchExternal:Personalsources(family,friendsetc.)Commercialsources(adverts)Third-partyreports(magazines,websites,etc.)InformationsearchTheinformationwillbeusedtobuildupanawarenessset.Awarenessset:rangeofproductsorbrandsthatmaysatisfytheneedorprovideasolutiontotheproblem.EvaluationofalternativesAccessthedifferentproductsorbrandsnowwithintheawarenessset.Differentconsumerswillattachdifferentdegreesofimportancetodifferentattributes.Usechoicecriteriatonarrowdownthelist.PurchasedecisionEvokedset:theselectionofthepreferredproducttobuy.Purchasedecision

Evaluationofalternatives

purchaseintention

otherpeople’sattitudes

theunexpectedPurchasedecisionPost-purchaseevaluationItisparticularlyimportanttomarketersasitwilldeterminewhethertheconsumerwillrepurchasetheproductandhowtheywillinfluenceotherpeopleintermsofpurchasingtheproduct.Post-purchaseevaluationConsumersevaluatetheproductintermsofwhatwaspromisedbeforetheypurchaseditandhowitactuallyperformedaftertheypurchasedit.3outcomesDisappointmentSatisfactiondelightPromotion(2)EchoOutlineBriefintroductionaboutadvertisementAdvertisingobjectivesEssentialadvertisingelementsBriefintroductionAdvertisingincludesanypaidformofnon-personalpresentationofideas,goodsandservicesbyanidentifiedadviser.BriefintroductionCommunicationbyadvertisingistransmittedtoatargetaudiencethroughmassmedia.BriefintroductionThemajorbenefitofmediaadvertisingisitsabilitytocommunicatetoalargenumberofpeopleallatonce.BriefintroductionDisadvantagesHighcostRarelyrapidfeedbackAdvertisingobjectivesTypicaladvertisingobjectivesrecognition,reinforceattitudes,stimulatetrialAdvertisingobjectivesRecognition:aformofawareness,appropriatewherethepurchasedecisionismadeatthepointofpurchase.E.g.anythingsoldinasuperma