copyright © 2009 pearson education canada11-1 chapter 11 developing product and pricing strategies...
TRANSCRIPT
Copyright © 2009 Pearson Education Canada 11-1
Chapter 11Chapter 11
Developing Developing Product and Product and
Pricing Pricing StrategiesStrategies
Copyright © 2009 Pearson Education Canada 11-2
What Is Marketing?What Is Marketing?
IndividualIndividualobjectivesobjectives
OrganizationalOrganizationalobjectivesobjectives
ConceptionConception PricingPricing PromotionPromotion DistributionDistribution
IdeasIdeas ServicesServices GoodsGoods
Copyright © 2009 Pearson Education Canada 11-3
Types of MarketingTypes of Marketing
Product marketingProduct marketing
Place marketingPlace marketing
Cause-related marketingCause-related marketing
Copyright © 2009 Pearson Education Canada 11-4
The Role of The Role of MarketingMarketing
Exchanges andExchanges and
transactionstransactionsNeeds andNeeds and
wantswants
Copyright © 2009 Pearson Education Canada 11-5
TimeTimeFormForm
PlacePlace PossessionPossession
The FourThe FourUtilitiesUtilities
Copyright © 2009 Pearson Education Canada 11-6
The Marketing ConceptThe Marketing Concept
CustomersCustomers
ProfitabilityProfitability
IntegrationIntegration
Copyright © 2009 Pearson Education Canada 11-7
The Buyer’s The Buyer’s Decision-making Decision-making
ProcessProcessNeed
recognitionNeed
recognitionInformation
searchInformation
search
Evaluationof
alternatives
Evaluationof
alternativesPurchasePurchase
Postpurchaseevaluation
Postpurchaseevaluation
Copyright © 2009 Pearson Education Canada 11-8
Factors That InfluenceFactors That Influencethe Buyer’s Decisionthe Buyer’s Decision
CultureCulture
Social classSocial class
Reference groupsReference groups
Self-imageSelf-image
Situational factorsSituational factors
Copyright © 2009 Pearson Education Canada 11-9
Analyzing Customer Analyzing Customer PreferencesPreferences
• Marketing Research– Gathering and analyzing information about
customers and markets– Research tools include:
• Personal observations• Surveys and questionnaires• Experiments• Interviews • Focus groups
Copyright © 2009 Pearson Education Canada 11-10
Analyzing Customer Analyzing Customer PreferencesPreferences
• Database Marketing– Recording and analyzing customer interactions,
preferences, and buying behavior for improved communication.
– Information is gathered by:
• engaging in two-way dialogues with clients,
• customer purchase files
• e-mails, WebPages, fax machines, and toll-free #’s.
Copyright © 2009 Pearson Education Canada 11-11
Building Customer Building Customer RelationshipsRelationships
RelationshipRelationship
marketingmarketingOne-to-oneOne-to-one
marketingmarketing
Copyright © 2009 Pearson Education Canada 11-12
Planning Marketing Planning Marketing StrategiesStrategies
Examine currentmarketing situation
11
Assess opportunitiesand set objectives
22
Develop marketingstrategy
33
Copyright © 2009 Pearson Education Canada 11-13
Examine the CurrentExamine the CurrentMarketing SituationMarketing Situation
ReviewReviewperformanceperformance
Examine strengthsExamine strengthsand weaknessesand weaknesses
EvaluateEvaluatethe competitionthe competition
Analyze theAnalyze theexternal external
environmentenvironment
Copyright © 2009 Pearson Education Canada 11-14
Assess Opportunities Assess Opportunities and Set Objectivesand Set Objectives
Market Market penetrationpenetration
GeographicGeographicexpansionexpansion
New-productNew-productdevelopmentdevelopment
DiversificationDiversification
Copyright © 2009 Pearson Education Canada 11-15
Develop the Develop the Marketing StrategyMarketing Strategy
Segments andSegments andnichesniches
Market positionMarket position
Target marketsTarget markets
Marketing mixMarketing mix
Copyright © 2009 Pearson Education Canada 11-16
Segmenting MarketsSegmenting Markets
BehaviouralBehavioural patterns patternsBehaviouralBehavioural patterns patterns
PsychographicsPsychographicsPsychographicsPsychographics
DemographicsDemographicsDemographicsDemographics
Usage patternsUsage patternsUsage patternsUsage patterns
GeodemographicsGeodemographicsGeodemographicsGeodemographics
GeographicsGeographicsGeographicsGeographics
Copyright © 2009 Pearson Education Canada 11-17
Target Market StrategiesTarget Market Strategies
Marketing Mix 1Marketing Mix 1
Marketing Mix 2Marketing Mix 2
Marketing Mix 3Marketing Mix 3
Segment 1Segment 1
Segment 2Segment 2
Segment 3Segment 3
CompanyCompanyMarketing MixMarketing Mix
Company Company Marketing MixMarketing Mix
MarketMarket
Undifferentiated(Mass)
Differentiated Concentrated(Niche)
Segment 1Segment 1
Segment 2Segment 2
Segment 3Segment 3
Copyright © 2009 Pearson Education Canada 11-18
Positioning the Positioning the ProductProduct
• Features
• Services
• Image
• Category leadership
Copyright © 2009 Pearson Education Canada 11-19
Developing the Marketing MixDeveloping the Marketing Mix
Social ResponsibilitySocial Responsibility
Social ResponsibilitySocial Responsibility
Bu
sin
ess
Eth
ics
Bu
sin
ess
Eth
ics B
usin
ess Eth
icsB
usin
ess Eth
ics
PromotionPromotionPlacePlace
PricePriceProductProductCompetitionCompetition EconomicsEconomics
NatureNature
PoliticsPoliticsRegulationRegulationTechnologyTechnology
SocietySociety Target Market
Copyright © 2009 Pearson Education Canada 11-20
The Product The Product ContinuumContinuum
GoodsProducts
IdeasServices
Salt Shoes DVD Auto FastFood
Cruise Consulting EducationInsurance
TangibleDominant
IntangibleDominant
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Characteristics ofCharacteristics ofService ProductsService Products
IntangibleIntangible
qualityqualityPerishablePerishable
naturenature
Copyright © 2009 Pearson Education Canada 11-22
Consumer ProductsConsumer ProductsConsumer ProductsConsumer Products
SpecialtySpecialtyproductsproductsSpecialtySpecialtyproductsproducts
ConvenienceConvenienceproductsproducts
ConvenienceConvenienceproductsproducts
UnsoughtUnsoughtgoodsgoods
UnsoughtUnsoughtgoodsgoods
ShoppingShoppingproductsproducts
ShoppingShoppingproductsproducts
Copyright © 2009 Pearson Education Canada 11-23
Organizational Organizational ProductsProducts
Raw Raw materialsmaterials
Raw Raw materialsmaterials
InstallationsInstallationsInstallationsInstallations
SuppliesSuppliesSuppliesSupplies
BusinessBusinessservicesservices
BusinessBusinessservicesservices
ComponentsComponentsComponentsComponents
EquipmentEquipmentEquipmentEquipment
Copyright © 2009 Pearson Education Canada 11-24
The Product Life CycleThe Product Life Cycle
TimeTime
IntroductionIntroduction GrowthGrowth MaturityMaturity DeclineDecline
VCRs
++00
Sa
les
Vo
lum
e (
un
its
)S
ale
s V
olu
me
(u
nit
s)
Sales
Profits
Hybrid Gas-Electric Cars
DVD’sI-Pod
Copyright © 2009 Pearson Education Canada 11-25
PackagingPackagingPackagingPackaging
LabellingLabellingLabellingLabelling
BrandingBrandingBrandingBranding
Product IdentitiesProduct Identities
Copyright © 2009 Pearson Education Canada 11-26
Branding ProductsBranding Products
Brand namesBrand namesBrand namesBrand names
Brand marksBrand marksBrand marksBrand marks
Trade marksTrade marksTrade marksTrade marks
NationalNationalbrandsbrands
NationalNationalbrandsbrands
PrivatePrivatebrandsbrandsPrivatePrivatebrandsbrands
Co-brandingCo-brandingCo-brandingCo-branding
GenericGenericproductsproductsGenericGeneric
productsproducts
Copyright © 2009 Pearson Education Canada 11-27
Selecting ProductsSelecting Products
Product LineProduct Line
Line filling
Line extension
Brand extension
Line stretching
Product MixProduct Mix
Width
Length
Depth
Risks and rewards
Copyright © 2009 Pearson Education Canada 11-28
Developing Pricing Developing Pricing StrategiesStrategies
CustomerCustomerperceptionsperceptionsCustomerCustomer
perceptionsperceptions
MarketingMarketingobjectivesobjectivesMarketingMarketingobjectivesobjectives
ConsumerConsumerdemanddemand
ConsumerConsumerdemanddemand
GovernmentGovernmentregulationsregulations
GovernmentGovernmentregulationsregulations