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A marketing strategy is composed of several interrelated elements. The first and most important is market selection: choosing the markets to be served. Product planning includes the specific products the company sells, the makeup of the product line, and the design of individual offerings in the line.
Positioning Strategy
All marketing strategy is built on STP : Segmentation, Targeting, and Positioning. A company discovers different needs and groups in the marketplace, targets those needs and groups that it can satisfy in a superior way, and then positions its offering so that the target market recognizes the company's distinctive offering and image
Marketing
Pricing Strategy
A marketer should understand the relationship between price and consumer purchases and perceptions. This relationship is explained by two economic principles : the law of demand and price elasticity of demand and market segmentation.
founder and chairman, Akio Morita, introduced those and many other new products that since have become everyday staples.
Experiential Marketing
The concept of experiential marketing comprises of five core elements : sense, feel, think, act, and relate. SENSE marketing appeals to the senses with the objective of creating sensory experiences through sight, sound, touch, taste, and smell. SENSE marketing may be used to differentiate companies and products, to motivate customers, and to add value to products.
Advertising Variables
There are some variables or factors that need to be considered when creating an advertising. These factors are waste, reach, frequency, message permanence, persuasive impact and clutter. Waste is the portion of an audience that is not in a firm's target market. Because media appeal to mass audiences, waste is a significant factor in advertising.
Market analysis, market planning, plan implementation and the market control complete the process of marketing management in a circle and allows the manager to evaluate and analyze every stage of the campaign by completing surveys and viewing the feedback of the customers which allows him to make amendments to the previous marketing techniques employed. These techniques must always be refreshed in order to give a new look to the brand especially when it has become old and tested. Some brands do not need much of a new look because of their popularity but if they are brought out in a new face then people will naturally feel more attracted towards it.
Marketing Planning and Strategy is designed for courses at the junior/seniorlevel in marketing strategy, business unit strategy analysis, strategic market planning, marketing planning, strategic marketing management and advanced marketing. It focuses on building the strategic skills necessary to
compete in the global economy by using a variety of analytical frameworks to understand how companies formulate strategy, make strategic decisions, and how they implement strategy. This text focuses on marketing strategy from the viewpoint of the business unit and clearly distinguishes marketing strategy from marketing management.
Marketing Strategy Presentation Outline: Market Scope Strategy Market Entry Strategy Product Strategy Promotion Strategy Distribution Strategy Pricing Strategy
Managing CRM
interrelated implementation tasks: 1) Identify customers. Relationships are only possible with individuals, not with markets, segments, or populations. Therefore, the first task in setting up a relationship is to identify, individually, the party at the other end of the relationship.
Database Marketing
Database marketing is now an essential part of marketing in many industries. The main principle of database marketing is that at least part of the communication organizations have with their consumers is direct. From this simple principle has grown a whole new discipline. However, it has not grown that quickly. The seeds of database marketing as we use it today were sown in the 19th century by the US mail order industry, which served so well the needs of remote farmers, ranchers, settlers and new townships.
CRM Application
Customer relationship management applications are generally organized into the primary functions of marketing, sales and service. The following descriptions outline the main elements of each of these application areas.
Strategic Management
then the majority of them will respond positively that they have something from the brand. If from the people who have ever used Nike you inquire that how the product was they would always give you a positive response about it.
Consumer Psychology
Psychographic Segmentation
Geographic and demographic variables traditionally have been the major variables for
segmenting markets. Nevertheless, there may be considerable psychographic (social class, personality, and lifestyle) differences among the people within a given geographic or demographic group. In psychographic segmentation the market is divided on the basis of social class, personality characteristics, and/or lifestyles.
have differing media choice and usage patterns. For example, readers of National Geographic and The New Yorker are typically of a higher class than the readers of Police Gazette, True Confessions, and The Star.
Brand Management
Brand Personality
The brand personality is the chosen character that best communicates the brand proposition to the target audience. It is not the personality of the target audience, it is the personality that is most likely to draw their attention, interest them, and encourage them to take action and buy the brand.
Brand Positioning
A well-crafted brand positioning has three primary components: 1) A definition of the target market you wish to pursue; 2) A definition of the business your company is in or the industry or category it competes in; and 3) A statement of your point of difference and key benefits. The language of a well-crafted positioning usually takes this general form: To (target market), Brand X is the (definition of business) that provides you with (stated point of difference/key benefit).
organization, whether online or off-line, should start its brand development process by answering the question "We promise to deliver what to you?" Victoria's Secret promises consumers that they will get quality fashions that make them (or recipients) feel and look good. It goes on to promise that they will receive what they order in a reasonable time, and if for some reason they are not satisfied, consumers can return items and receive refunds (both in stores and through catalog and online outlets).
Brand Loyalty
Brand loyalty, long a central construct in marketing, is a measure of the attachment that a customer has to a brand. It reflects how likely a customer will be to switch to another brand, especially when that brand makes a change, either in price or in product features.
Brand Management is a way of taking complete care of the product. It means a company uses marketing techniques in the best possible manner so the product as a whole is highlighted, taken care of and promoted. Brand Management also involves making a promise with the customers about making efforts to make the product survive for a long as possible in the market. It involves defining the brand in the best way so that people know the real essence of it. Essentials of Marketing Management Presentation Outline : Marketing Mix and Key Marketing Activities Developing Market Segmentation Product Planning and Development Promotion Mix : Advertising, Publicity, Personal Selling and Sales Promotion Distribution Planning and Pricing Strategy Some Lessons in the Slides : Consumer Analysis : Examination and evaluation of consumer characteristics, needs, and purchase processes Product Planning : Development and maintenance of products, product assortments, product positions, brands, packaging, options, and deletion of old products Price Planning : Outlines price ranges and levels, pricing techniques purchase terms, price adjustments, and the use of price as an active or passive factor Distribution Planning : Establishment of channel relations, physical distribution, inventory management, warehousing, transportation, allocation of goods, and wholesaling Promotion Planning : Combination of advertising, publicity, personal selling, and sales promotion to drive sales revenue