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Principles of Marketing
大二市场营销学原理，包含Stategic Planning and Marketing Strategy、Analyzing the Marketing Environment、Managing Marketing Information。
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Principles of Marketing
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Principles of Marketing
Defining Marketing and the Marketing Process
What is marketing
the process by which companies create vlue for customers and build strong customer relationships in order to capture value from customers in return
customr-driven marketing
the marketing effort devoted to identifying and satisfying the needs that customers are conscious of
cusomer-driving marketing
the marketing effort devoted to identifying and satisfying the needs that customers are unconsicious of, telling them what they need
weapons
advertising
packaging
hype
brainwashing(breeding)
Core maketing concepts
Needs and Wants
Needs are states of felt deprivation
Wants are product-specific needs shaped by culture and individual preferences
Markets
A market is the set of all actual and potential buyers of a product or service
Marketers see the sellers as constituting an industry and the buyers as constituting a market
Segemntation, targeting and positioning
Market segemntation
the process of dividing a market into distinct segments of customers with common needs or characteristics
Targeting
selecting one or more from the segments as the target market
Positioning
implanting a brand's unique value into the minds of the target customers
Marketing offers
Market offering
anything offered to the market that will satisfy a customer need or want
Customer value and satisfaction
Customer value
customer delivered value/ customer perceived value
difference between total customer value and total customer cost
Total customer value
Product value
Service value
Personnel value
Image value
Taotal customer cost
Monetary cost
Time cost
Energy cost
Psychic cost
Customer satisfaction
Whether needs are satisfied
outcome satisfaction
P=E
neutral feeling/ satisfaction
P>E
satisfaction/delight
P<E
dissatisfaction
process satisfaction
Whether expectations are met
Perceived fairness
Customer attribution
internal attribution
external attribution
Relationships and networks
Relationships
company&customers&suppliers
Marketing network
company&stakeholders
Marketing channels
Value chain and supply chain
Value chain
consists of the series of internal departments that carry out value-creating activities to design, produce, market, deliver, and support the company's products
Supply chain
Marketing mix
product
price
place
promotion
The marketing process
Environmental scanning
Strategic Marketing
Tactical Marketing
Marketing management orientations
Customer relationship management
Effective CRM can generate high customer equity.
Benefits from CRM
customer equity
total combined customer lifetime values of all the company's customers
customer lifetime value
the value of the entire stream of purchases that the customer would make over a lifetime of patronage
Procedures of Practical CRM
To build a customer database by collecting customer data from every customer touch-point
To classify the company's existing customers according to their profitability and consumption potential
To conduct different levels of relationships marketing on different categories of customers
Customer Relationship Levels
customer profitability analysis
platinum tier
gold tier
iron tier
lead tier
number of customers/distributors&profit margin level
basic marketing
reactive marketing
accountable marketing
proactive marketing
partnership marketing
Long Tail Theory
Relationship Marketing
Application Scope of Relationship Marketing
Relationship Marketing Tools
Financial Ties
Social Ties
Structural Ties
Theoretical framework of marketing management
Case in brief
launch time
investment
market capacity
market goal
actual performance
target market
positioning
product strategy
price strategy
place strategy
promotion strategy
Case analysis
marketing fits
Fit 1
fit between marketing goal and environment
Fit 2
fit between STP and environment
Fit 3
fit between 4P/7P and STP
Fit 4
fit between and among 4P/7P
Stategic Planning and Marketing Strategy
Strategic Planning
Successful strategic planning results in doing the right thing at the right time in the right place
Strategic planning is the process of developing and maintaining a strategic fit between the organization's goals and capabilities and its changing markating opportunities
Strategy
Corporate stategy
Business strategy
Overall cost leadership
Differentiation
Focusing
Functional strategy
Steps in Strategic Plan
Defining the company mission
What is our business
business scope
Who is the customer
target market
What values can we deliver to these customers
What should our business be in the future
Setting company objectives and goals
corporate overall objectives
business objectives
marketing objectives
Designing the business portfolio
Analyzing the Current Business Portfolio
strategies
to build
to hold
to harvest
to divest
limitations
Market growth rate is an inadequate indicator of overall industry attractiveness, and relative market share is inadequate as an indicator of overall competitive strength.
The model may lead a company into a high-growth industry that is unrelated to its current businesses.
The model fails to consider the synergies between two or more businesses.
Developing Strategies for Growth
Intensive growth strategies
Integrative growth strategies
vertical integration
backward integration
forward integration
horizontal integration
Diversification growth strategie
concentric diversification
horizontal diversification
conglomerate diversification
Planning marketing and ither functional strategies
Marketing Strategy and the marketing mix
Marketing Strategy
segmentation
targeting
positioning
Marketing Mix
think in terms of 4Cs but act on 4Ps
4Ps
Product
Price
Place
Promotion
4Cs
Customer solution
Customer cost
Convenience
Communication
Contents of a marketing plan
Analyzing the Marketing Environment
The company's external environment
Macroenvironment(PEST)
Industry competition
Market demand
Demographic Environment
Size and change of population
Structure of population
Geographic shifts in population
Economic Environment
Level of economic development
Changes in income
Consumer spending patterns
Natural Environment
Growing shortages of raw materials
Increased pollution
Increased government intervention in natural resource management
Technological Environment
Rapid pace of technological advances
High R&D budgets
Concentration by companies on minor product improvements
Political Environment
increasing business legislation
increased emphasis on ethic and socially responsible actions
Cultural Environment
The company’s internal environment
Resources
Competencies
SWOT Analysis and Strategic Choice
Responding to the marketing environment
avoiding threats and taking advantage of opportunities as they arise.
Whenever possible, companies should try to be proactive rather than reactive.
Managing Marketing Information
Analyzing Consumer Markets
Analyzing Business Markets
Characteristics of business markets
Marketing Structure and Demand
Business markets contain fewer but larger buyers .
Business buyer demand is derived from final consumer demand.
Nature of the Buying Unit
Business purchases involve more participants
Business buying involves a more professional purchasing effort
Types of Decisions and the Decision Process
In business buying, buyers and sellers build close long-run relationships
Major Industrial Marketing Techniques
Value-chain-based marketing
Acquiring a full understanding of the customer’s business procedure
Identifying “weak points” in the business procedure and starting marketing there
Offering to overcome the weak points and seeking to substitute the customer on those points
Getting embedded in the customer’s value chain and becoming an integral part of the chain
Relationship marketing
Customization
Segmentation, Targeting, and Positioning
Market segmentation
Segmenting Consumer Markets
Geographic Variables
Demographic Variables
Psychographic Variables
Behavioral Variables
Segmenting Business Markets
Demographics
Operating variables
Purchasing approaches
Situational factors
Personal characteristics
Requirements for Effective Segmentation
general criterion
inter-segment difference maximization
intra-segment difference minimization
Specific requirement
Measurability
Accessibility
Substantiality
Differentiability
Actionability
Target marketing
Evaluating and Selecting Market Segments
evaluating segments
Segment size and growth
Segment structural attractiveness
Company objectives and resources
Five Forces Determining Segment Structural Attractiveness
Rivalry among existing firms
Substitutes
Suppliers
Buyers
Potential entrants
Choosing a Target Marketing Strategies
Target Marketing Strategy
Undifferentiated (mass) marketing
Differentiated (segmented) marketing
Concentrated (niche) marketing
Micromarketing (local or individual marketing)
Five considerations
Company resources
Product’s life-cycle stage
Product variability
Market variability
Competitors’ marketing strategies
Positioning for competitive advantage
Identifying Possible Competitive Advantages
Product Differentiation
Services Differentiation
Personnel Differentiation
Channel Differentiation
Image Differentiation
Choosing the Right Competitive Advantages
How many differences to promote?
Only one benefit
More than one differentiator
positioning errors
Underpositioning
Overpositioning
Confused positioning
Which differences to promote
Important
Distinctive
Superior
Communicable
Preemptive
Affordable
Profitable
Selecting an overall positioning strategy
distinctive value
Effective positioning
Uniqueness
Value-laddenness
The key to positioning is to establish points of differentiation that can bring value to customers.
A product or brand can be positioned on
Attributes
Benefits
Attributes and benefits
Beliefs and values
Performance-to-price ratio
Developing a positioning statemen
Steps in Market Segmentation, Targeting, and Positioning
Identify bases for segmenting the market
Develop segment profiles
Develop measure of segment attractiveness
Select target segments
Develop positioning for target segments
Products, Services, and Branding Strategies
What is a product?
Products, Services, and Experiences
Levels of Products and Services
core product
actual product
augmented product
Product and Service Classifications
Consumer Products
Convenience products
Shopping products
Specialty products
Unsought products
Industrial Products
Materials and parts
Capital items
Supplies and services
Product and service decisions
individual product decisions
Product Attributes
Product Quality
Total quality management
performance quality
conformance quality
Product Features
Product Style and Design
Branding
Packaging
Labeling
Product support services
product line decisions
line stretching
line filling
product mix decisions
width
length
depth
consistency
Branding strategy
Brand Equity
content asset
customer asset
voice asset
Brand Strategy Decisions
Brand Development Strategies
Managing Brands
Services marketing
Characteristics of a Service
Intangibility
Inseparability
Perishability
Variability
The Service-Profit Chain
Types of Marketing in Service Industries
Internal marketing
Interactive marketing
External marketing
Service Marketing Mix
Pricing Considerations and Approaches
What is a price?
Common pricing problems
Companies being too quick to reduce prices;
Pricing being too cost-oriented;
Price changes not reflecting market changes;
Pricing not taking account of the rest of the marketing mix;
Prices not being varied enough for different products, market segments, and purchase occasions.
Factors to consider when setting prices
Internal Factors Affecting Pricing Decisions
Marketing Objectives
survival
current profit maximization
market share leadership
product quality leadership
Marketing Mix Strategy
target costing
Costs
types of costs
costs at different levels of production
costs as a function of production experience
Organizational Considerations
External Factors Affecting Pricing Decisions
Nature of the Market and Demand
Pricing in Different Types of Markets
pure competition
monopolistic competition
oligopolistic competition
pure monopoly
Consumer Perceptions of Price and Value
Analyzing the Price-Demand Relationship
Competitors’ Offers and Prices
Other External Factors
General pricing approaches
cost-based approach
Cost-Plus Pricing
Target Profit Pricing
buyer-based (also known as value-based ) approach
Direct rating
Relative rating
Diagnosing
competition based approach
Going-rate pricing
Sealed-bid pricing
Pricing Strategies
New-product pricing strategies
market-skimming pricing
The product’s quality and image must support its higher price, and enough buyers must want the product at that price.
The costs of producing a smaller volume cannot be so high that they offset the advantage of charging more.
Competitors should not be able to enter the market easily and undercut the high price.
market-penetration pricing
The market must be highly price sensitive so that a low price produces more market growth.
Production and distribution costs must fall as sales volume increases.
The low price must help keep out the competition, and the penetration pricer must maintain its low-price position——otherwise, the price advantage may be only temporary.
Product mix pricing strategies
product line pricing
optional-product pricing
captive-product pricing
by-product pricing
product bundle pricing
Price adjustment strategies
discount and allowance pricing
trade-in allowances
promotional allowances
segmented pricing
conditions
The market must be segmentable, and the segments must show different degrees of demand.
Members of the segment paying the lower price should not be able to turn around and resell the product to the segment paying the higher price.
Competitors should not be able to undersell the firm in the segment being charged the higher price.
The costs of segmenting and watching the market should not exceed the extra revenue obtained from the price difference.
The segmented pricing must be legal.
Segmented prices should reflect real differences in customers’ perceived value.
customer segment pricing
product-form pricing
location pricing
time pricing
psychological pricing
Consumers usually perceive higher-priced products as having higher quality.
reference prices —— prices that buyers carry in their minds and refer to when looking at a given product.
promotional pricing
adverse effects
Used too frequently and copied by competitors, price promotions can create “deal-prone” customers who wait until brands go on sale before buying them.
Constantly reduced prices can erode a brand’s value in the eyes of customers
Frequent use of promotional pricing can lead to industry price wars.
loss leaders
special-event pricing
cash rebates
low-interest financing
longer warranties
ree maintenance
geographical pricing
FOB-origin pricing
Uniform-delivered pricing
Zone pricing
Basing-point pricing
Freight-absorption pricing
international pricing
Marketing Channels
The nature and importance of marketing channels
How Channel Members Add Value
the use of intermediaries can provide economies.
marketing intermediaries match supply and demand by transforming the narrow assortments of products made by producers into the broad assortments wanted by consumers
channel members add value by bridging the major time, place, and possession gaps that separate goods and services from those who would use them.
Number of Channel Levels
Channel conflict
Types of Channel Conflict
horizontal conflict
vertical conflict
Causes of Channel Conflict
Goals being different
Rights, responsibilities, and rewards not specified
Perception gaps
Values being different
Communication barriers
Solutions to Channel Conflict
To set common goals
To clearly define rights, responsibilities, rewards
To coordinate values
To organize consultations and negotiations
To exchange managing people
To establish a system of reward and punishment
Channel structure design
Length and Width of the Channel
In terms of width, the channel takes three forms
Intensive distribution
Selective distribution
Exclusive distribution
Influences of Channel Structure Selection
Product Characteristics
Market Characteristics
Dealer Characteristics
Competitor Characteristics
Company Characteristics
Environmental Characteristics
Principles of Channel Structure Design
Buying convenience
Cost-effectiveness
Consistency with other marketing mix elements
Controllability
Channel management decisions
Integrated Marketing Communication Strategy
The marketing communications mix
Integrated Marketing Communications
A view of the communications process
A Model of Communication
Senders need to know what audiences they wish to reach and what responses they want.
They must encode messages in a way that enables the target audience to decode them in the intended way.
They must send messages through media that can reach and affect target audiences effectively.
They must develop feedback channels so that they can assess the audience’s response to the message.
Marketers must work out various strategies (e.g. effective positioning, repetition, contrast, teasers, placing ads in specialized media) to overcome psychological noise.
Steps in developing effective communication
Defining the Target Audience
Determining the Communication Objectives
Designing a Message
Message Content
Message Presentation
Choosing Media
Personal Communication Channels
Nonpersonal Communication Channels
Selecting the Message Source
Collecting Feedback
Setting the total promotion budget and mix
Setting the Total Promotion Budget
Affordable method
Percentage-of-sales method
Competitive-parity method
Objective-and-task method
Setting the Overall Promotion Mix
Nature of Each Promotion Tool
Advertising
Personal Selling
Sales Promotion
Public Relations
Direct Marketing
Promotion Mix Strategies
push strategy
pull strategy
Advertising, Sales Promotion, and Public Relations
Major advertising decisions
Setting Advertising Objectives
Informative
Persuasive
Reminding
Setting the Advertising Budget
life-cycle stage
market share
competition
nature of the brand
Developing Advertising Strategy
messages
Message Content
brand’s positioning points
artistically
Message Execution
media
Evaluating Advertising
communication effects
copy testing
recall or attitude changes
sales effects
the percentage change in sales in response to the percentage change in advertising spending
experiments
Major sales promotion tools
Major Sales Promotion Tools
Major consumer promotion tools
samples
coupons
cash refunds
price packs ( cents-off deals
premiums
advertising specialties
patronage rewards
point-of-purchase ( POP ) displays and demonstrations
contests
sweepstakes
games
Major trade promotion tools
discounts
allowances
buy-back guarantees
free goods
free training
Business promotion（two additional major tools）
conventions and trade shows
sales contests
Major public relations tools
Personal Selling and Direct Marketing
Managing the sales force
Designing Sales Force Strategy and Structure
Sales Force Structure
Territorial Sales Force Structure
Product Sales Force Structure
Customer Sales Force Structure
Complex Sales Force Structures
Sales Force Size
workload approach
Training Salespeople
Compensating Salespeople
fixed amount
variable amount
expense allowances
fringe benefits
Supervising Salespeople
directing
annual call plan
time-and-duty analysis
motivating
organizational climate
sales quotas
positive incentives
Evaluating Salespeople
The personal selling process
Directing marketing
direct distribution
direct communications
Dissatisfaction