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BA 4700 CHAPTER 7

Learn how marketing strategies, such as advertising, sales promotion, personal selling, customer service, and new product development, are coordinated to achieve the desired impact on product demand. Explore primary and selective demand strategies and discover how to select the most effective marketing strategy based on your product's life cycle.

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BA 4700 CHAPTER 7

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  1. BA 4700CHAPTER 7 • Lindell’s Notes on StrategyLPC1@umsl.edu

  2. BA 315/4700CHAPTER 7 Lindell’s Notes on Strategy Marketing programs such as advertising, sales promotion, personal selling, customer service and new product development are coordinated through marketing strategies which are designed to achieve the desired impact on demand for a product or product line.

  3. Primary demand strategies are designed to increase the level of demand for a product form or class by current nonusers or by current users. • One strategic approach to stimulate primary demand is to increase the number of users by increasing the customers' willingness to buy, increasing the customers' ability to buy, or both.

  4. Primary demand strategies are designed to increase the level of demand for a product form or class by current nonusers or by current users. • A second approach is to increase the rates of purchase by broadening product usage, increasing product consumption levels, or encouraging replacement.

  5. Primary Demand Summary • increase the number of users by increasing the customers' willingness to buy, increasing the customers' ability to buy, or both. increase the rates of purchase by broadening product usage, increasing product consumption levels, or encouraging replacement.

  6. Selective demand strategies are designed to improve the competitive position of a product service or business. These are carried out in three distinct ways. • Expanding the served market by broadening distribution or expanding the product line by vertical or horizontal product line extensions.

  7. Selective demand strategies • Acquisition of competitor's customers can be attempted either through head to head position or by differentiated positioning. Products that are successfully positioned usually develop a high level of brand equity.

  8. Selective demand strategies • Demand within the current customer base can be retained/ expanded by maintaining customer satisfaction or developing improved customer relationships.

  9. Selective demand strategies • Complementary products can be used to retain customers • and can be effective in customer retention through the • use of bundling or systems selling.

  10. Selecting a marketing strategy

  11. Marketing strategies change over time due to the dynamic situation a firm faces. • The product life cycle dictates the most successful strategy due to the stage a firm's product is in.

  12. BA 4700CHAPTER 7 • Lindell’s Notes on StrategyLPC1@umsl.edu

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