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Marketing

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Marketing

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    1. Week 2 Developing marketing strategies & plans Marketing

    2. Good News ? Textbook is available in PDF format (98Mb)

    3. Quiz 15 minutes

    4. The Value Delivery Process

    5. The Value Delivery Process Zero customer feedback time. Customer feedback should be collected continuously after purchase to learn how to improve the product and its marketing. Zero product improvement time. The company should evaluate all improvement ideas and introduce the most valued and feasible improvements as soon as possible. Zero purchasing time. The company should receive the required parts and supplies continuously through just-in-time arrangements with suppliers. By lowering its inventories, the company can reduce its costs. Zero setup time. The company should be able to manufacture any of its products as soon as they are ordered, without facing high setup time or costs. Zero defects. The products should be of high quality and free of flaws.

    6. The Value Delivery Process “3V’s” approach: define the value segment or customers (and his/her needs) define the value proposition define the value network that will deliver the promised service.

    7. The Value Delivery Process Marketing is: value defining processes (e.g., market research and company self-analysis), value developing processes (e.g., new-product development, sourcing strategy, and vendor selection) value delivering processes (e.g., advertising and managing distribution)

    8. The Value Chain The value chain is a tool for identifying ways to create more customer value (Michael Porter) Every firm is a synthesis of activities performed to design, produce, market, deliver, and support its product. The value chain identifies nine strategically relevant activities that create value and cost in a specific business.

    9. The Value Chain Activities The primary activities cover the sequence of bringing materials into the business (inbound logistics), converting them into final products (operations), shipping out final products (outbound logistics), marketing them (marketing and sales), and servicing them (service).

    10. The Value Chain Activities The support activities—procurement, technology development, human resource management, and firm infrastructure—are handled in certain specialized departments, as well as elsewhere.

    11. The Generic Value Chain

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