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Developing Product and Pricing Strategies

Developing Product and Pricing Strategies. What Is Marketing?. Conception Pricing Promotion Distribution. Types of Marketing. Product marketing Place marketing Cause-related marketing. The Role of Marketing. Needs and wants Exchange process Transactions. The Four Utilities. Form

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Developing Product and Pricing Strategies

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  1. Developing Product and Pricing Strategies Business In Action 3e

  2. What Is Marketing? • Conception • Pricing • Promotion • Distribution Business In Action 3e

  3. Types of Marketing • Product marketing • Place marketing • Cause-related marketing Business In Action 3e

  4. The Role of Marketing • Needs and wants • Exchange process • Transactions Business In Action 3e

  5. The Four Utilities • Form • Time • Place • Possession Business In Action 3e

  6. The Marketing Concept • Customers • Profitability • Coordination Business In Action 3e

  7. The Consumer’s Decision Process • Need recognition • Information search • Evaluation of alternatives • Purchase • Postpurchase evaluation Business In Action 3e

  8. Factors That Influence the Buyer’s Decision • Culture • Social class • Reference groups • Self-image • Situational factors Business In Action 3e

  9. Purchasing in Organizations • Decision-making factors • Economics and logic • Formal buying procedures • Multi-party participation • Buyer-seller relationship Business In Action 3e

  10. Marketing Research • Observations • Surveys and questionnaires • Experiments • Interviews • Small samples • Focus groups Business In Action 3e

  11. Database Marketing • Customers • Preferences • Interactions • Behaviors Business In Action 3e

  12. Relationship Marketing • Keeping customers is cost effective • Long-term customers are more profitable • Satisfied customers spread the news • Customers will pay for superior service • Dissatisfied customers tell everyone Business In Action 3e

  13. One-To-One Customer Marketing • Identification • Differentiation • Interaction • Customization Business In Action 3e

  14. Strategic Planning • Examine current marketing situation • Assess opportunities and set objectives • Develop marketing strategies Business In Action 3e

  15. Examine the Current Marketing Situation • Review performance • Evaluate competition • Examine internal strengths and weaknesses • Analyze the external environment Business In Action 3e

  16. Assess Opportunities and Set Objectives • Market penetration • New product development • Geographic expansion • Diversification Business In Action 3e

  17. Develop the Marketing Strategy • Segments and niches • Target markets • Market position • Marketing mix Business In Action 3e

  18. Segmenting Markets • Demographics • Geographics • Psychographics • Geodemographics • Behavioral patterns • Usage patterns Business In Action 3e

  19. Target Market Strategies • Undifferentiated • Differentiated • Concentrated Business In Action 3e

  20. Positioning the Product • Features • Services • Image • Category leadership Business In Action 3e

  21. Developing the Marketing Mix • Product • Price • Place • Promotion Business In Action 3e

  22. Develop Product Strategies • Generate new ideas • Develop and screen concepts • Develop marketing strategies • Analyze business potential • Design and develop products • Test the market • Commercialize the product Business In Action 3e

  23. The Product Continuum • Tangible • Goods • Products • Intangible • Services • Ideas Business In Action 3e

  24. Consumer Products • Convenience products • Shopping products • Specialty products • Unsought goods Business In Action 3e

  25. Business Products • Expense items • Short-term • Capital items • Long-term Business In Action 3e

  26. Uses of Business Products • Raw materials • Components • Supplies • Installations • Equipment • Business services Business In Action 3e

  27. The Product Life Cycle • Introduction • Growth • Maturity • Decline Business In Action 3e

  28. Product Identities • Branding • Packaging • Labeling Business In Action 3e

  29. Branding Products • Brand names • Brand marks • Trade marks • National brands • Private brands • Co-branding • Generic products Business In Action 3e

  30. Packaging and Labeling • Function • The product • Information • Inventory control • Strategy • Display • Differentiation • Appeal Business In Action 3e

  31. Selecting Products Product Line Product Mix • Line filling • Line extension • Brand extension • Line stretching • Width • Length • Depth • Risks and rewards Business In Action 3e

  32. Developing Pricing Strategies • Marketing objectives • Government regulations • Consumer perceptions • Consumer demand Business In Action 3e

  33. Common Pricing Approaches • Cost-based • Price-based • Skimming • Penetration • Discounting Business In Action 3e

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