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Chapter 0. Introduction to Marketing Management. Market & Product. A market is the set of actual and potential buyers of a product. These buyers share a particular need or want that can be satisfied through exchange relationships.
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Chapter 0 Introduction to Marketing Management
Market & Product • A market is the set of actual and potential buyers of a product. These buyers share a particular need or want that can be satisfied through exchange relationships. • Product (Marketing Offer): physical product, service, information, experience, person, place, organization, and ideas.
Definition of Marketing • Marketing is the process of planning and executing the conceptions, pricing, promotion and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals. (AMA) • Marketing is meeting needs profitably.
National Milk Processors Education Program • 章子怡 • Hulk • Garfield
Focus of Marketing • Consumer behavior • External • Internal • Marketing strategies • Product, price, place, and promotion
External Consumer Behavior • Shoppers often zip through the snack aisle, spending only 42.7 seconds there, whereas they spend more than twice that in the coffee aisle. • Only 34% of shoppers who don’t have baskets actually purchase something, while 75% of shoppers with baskets buy some items. • A woman who shops with another woman spends twice as much time in the store than if she shops with a man.
Internal Consumer Behavior • Cognition and Affect • Examples: Country-of-origin effect, framing effect, and prospect theory.
Question 1 假設台灣爆發罕見疾病，預見期會有600人死亡，但有有方案a及方案b可供選擇以對抗疾病，估計如下： • 方案a：200人確定可以獲救。 • 方案b：1/3機率600人可獲救，2/3的機率無人可獲救。
Question 2 假設台灣爆發罕見疾病，預見期會有600人死亡，但有有方案1及方案2可供選擇以對抗疾病，估計如下： • 方案1：400人確定會死亡。 • 方案2：1/3的機率無人死亡，2/3的機率600人均死亡。
展望理論(Prospect Theory) • 人在面對「利得」時，常是風險趨避的。 • 人在面對「損失」時，常是風險愛好的。 • Example: 散戶的心態。
STP concept • Market segmentation: dividing a market into distinct groups of buyers who have distinct needs, characteristics, or behavior and who might require separate products or marketing mix. • Steps for market segmentation • Identify bases (ex. geographic, demographic, psychographic, and behavior) of segmenting • Develop profiles of resulting segments • Market segment: a group of consumers who respond in a similar way to a given set of marketing efforts.
STP concept • Target marketing: the process of evaluating each market segment’s attractiveness and selecting one or more segments to enter. • Steps for target marketing • Evaluate the attractiveness of each segment • Select the target segments • A company with limited resources might decide to serve only one or a few special segments or “market niches”. • E.g. Arm & Hammer, Oshkosh Truck, and Veterinary Pet Insurance.
Case: Veterinary Pet Insurance • Facts • More than 60% of all U.S. households own one dog or one cat or both. • There are more than 60 million dogs, 68million cats, and 2 million rabbits in U.S.. • Spend $28.5 billion a year on the pets. • Nearly 75% of pet owners are willing to go into debt to pay for veterinary care. • Sales have grown 40% in each of the past year, reaching nearly $72million last year.
STP Concept • Market positioning: arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers. • Steps for market positioning • Identify possible positioning concepts for each target segment • Develop marketing mix for each target segment • Examples: HITACHI, KOLIN, and SAMPO.
Pricing • Pricing Approach • Product-Bundling Pricing • Segmented Pricing, e.g. a theater has only 4 seats.
