-
Four Ps and Four Cs
- Product -> customer Solution
- Place -> Customer Place
- Promotion -> Customer communication
- Price-> Customer Cost
-
Six areas of Situational Analysis
- Cooperative analysis
- competitive Environment
- Economic situation
- Social Environment
- Political Environment
- Legal Environment
-
Steps in Strategic Planning Process
- Organizational Mission
- Organizaional Objective
- Organizational Strategies
- Organizational Portfolio
- Implementation and Control
-
Organizational mission
guiding the company in the direction it wants to lead.
- Defines the goals
- Reach the goals
-
Mission Statement done right will
- Focus on markets rather than the products
- Be achievable
- Be motivational
- Be specific
Problems: It must be a flexible one.
-
When writing a Mission Statement Consider
- Organizational History
- distinct competensis
- Organizational Enviroment
- What is our business?
- Who is the customer?
- What do our customers value?
- What will our business cost?
-
Organizational Objective
- On going , long run objective
- Attatining a specific levels of quality
- Organizations commitment to the customer
-
Organization Strategies Based on
- Product and Market
- Competitive advantages
- Values
-
Product and Market
- Market Penetration: increase sales with present customer and customer product
- Market Development: Find new Customer for current products
- Product Development: Develop new products for present customers
- Diversification: Seeking new Products for customers not currently being served.
-
Competitive Advantages a firm develops
- cost leadership
- differentiation: focusing on being unique
-
Values
- Customer value is critical
- cannot succeed being all things to all people
- Select strategies consistent with mission
- Value based on
- best price
- best product
- Best service
-
Organizational Porfolio Plan (SBU)
- Identify Strategic Business Units
- Divisions
- Product lines
- Profit centers
- Strategic business Unit
- Goals and Objectives
- Competitors
- Target Market
- Marketing Unit
-
Implantation and Control
- measure the results of the implementation marketing plan
- compare the results with the objectives
- Determine weather the plan is achieving its objectives
Cross functional teams are important in team management
-
What influences a Consumer behavior to make their decisions?
- Social influences
- Marketing influences
- situational influences
- phsychological influences
-
Soical Influnces
- Cultural Influences: Achievement and Sucess, Material comfort, Individualism, Freedom, External Conformity, Youthfullness, Fitness and Health
- Social Class: Wealth, Skill, Power, Occupation
- Reference Groups and families: Primary reference:-Family, Family life cycle, Secondary reference Group: Faternal and professional.
-
Marketing Influences
- Product: Differenaite from competitors, Create a perception of product worth.
- Price: Influnces purchase
- Promotional: Influcences, cognitive, emotional expereince adn behaviours, Offer consistent messages, Place media in that target market
- Place of Distribution: Conveinence increases chance of purchase. Exclusive outlets/ quality perception.
-
Situational Influences (time and place of obersvation)
- 1) Physical features
- 2) Social features: are they by themselves or by their friends
- 3) Time
- 4) Task
- 5) Current conditions; are you happy, sad, etc.
-
Physiological Influences
- Affects intial levl of product knowledge and how much is stored in memory
- Influnces how much info we are looking for
- Perception of importance/relevance
-
Consumer decision making Model
Need recognition -> Alternative Search -> Alternative Evaluation -> Purchase decision -> Postpurchase Evaluation (goes back to 1)
-
Need Recognition
maslows Law of Heriarchy of Needs
- Physiological needs
- Safety needs
- Belonging and love needs
- Esteem needs
- Self-actualization needs
-
Alternative Search
- Internal sources: generally expereinces
- Group sources: friends and family
- Marketing sources: Advertsiment, sales people,etc
- Experiential sources: Handling, examining, and perhaps trying the product while shopping.
-
Categories of Decision alternative
Awerness set: all teh brands that you are aware of.
- Evoke set: the ones you prefer the solution to the problem
- Inert set: unsure about/possibility
- Incept set: The set that would never want to get.
-
Purchase Decision
- Risk minimizing decision
- More information/less post purchase dissonance
-
Post Purchase Evaluation
- Cognitive Dissonance in consistaney or disharmony with attitudes and belifes leading to belive it was an unsatisfactory purchase.
- Intensity of anxiety will be greater when
- 1) decisions is important
- psychologically
- financially
- 2) Number of alternative with favorable features
- 3) Expecations versus post purchase performance.
-
Read to hand outs
- Categories of Decision Alterntiaves
- Information sources for a purchase decision
-
CH 4) Business, Governmental and Institutional buying
Categories of Organizational Buyers
- Producers
- Intermediaries
- Govermental Agencies
- Other Instituions
-
Organziational Purchase : Differences
- Larger Quantity
- Sales negotiated less frequently
- Long term agreements
- Longer Negotiation periods
- Shorter distribtuion Channels
- Greater emphasis on personal selling
- Greater web integration
- Unique promotional strategies.
-
Organizational Marketing
- Product: Specs for production line etc
- Price: Bidding and assesing for what is needed
- Promotion: Lots of personal selling
- Distribution: Not many layers/suppliers selling to the distributors
- Customer: few customers but larger customer
-
The Organizational buying process
- Straight buy: Simplest, most common, Routine, Frequently ordered, learning ease, Product does Job
- Modified buy: Routine purchase, slight change, Training workers, Alternative evaluation, Minimal Start-up Cost
- New Task purchase: In Frequent Purchases, First time purchase, Complex purchase, Expensive, Extensive research, Joint Decision
- Favor Suppliers: Offer technical service, Free trial period, adjust to demands of buyer.
-
The Organizational Buying Process
- Straight buy: Simplest, most common, Routine, Frequently ordered, learning ease, Product does Job
- Modified buy: Routine purchase, slight change, Training workers, Alternative evaluation, Minimal Start-up Cost
- New Task purchase: In Frequent Purchases, First time purchase, Complex purchase, Expensive, Extensive research, Joint Decision
- Favor Suppliers: Offer technical service, Free trial period, adjust to demands of buyer.
|
|
