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MKTG 4381 Developing Marketing Strategies

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Mario V. Gonzalez-Fuentes

on 22 September 2016

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Transcript of MKTG 4381 Developing Marketing Strategies

Marketing Management
Developing Marketing
Strategies and Plans

Creating/Choosing the value (Product management)
Communicating the value (Branding)
Delivering the value
(Customer management)
Phases of value creation
and delivery
Needs, wants, demands
Strategic Planning
The Planning Process
Conduct Situation Analysis (SWOT)
Establish mission
Establish goals and objectives
Design Strategy
Write a Plan
Good Mission Statements
Focus on a limited number of goals
Stress major policies and values
Define major competitive spheres
Take a long-term view
Short, memorable, meaningful
Google
Major Competitive Spheres
Industry
Products
Competence
Market segment
Vertical channels
Geographic
Product Orientation vs. Market Orientation
Dimensions Define a Business
Customer
Groups
Customer
Needs
Technology
What is Corporate Culture?
Corporate culture is the shared experiences, stories, beliefs, and norms that characterize an organization.
Goal Formulation and MBO
Objectives must be
hierarchical
Objectives should be quantitative, in
measurable
terms
They should specify a clear
time frame
Goals should be challenging but
realistic
Objectives must be
consistent
with each other
Needs turn into Wants turn into Demand
Needs
Wants
Demand
Wants
Does Marketing Create or Satisfy Needs?
Don’t sell me a house, sell me . . .
Don’t sell me toothpaste, sell me . . .
Don’t sell me a movie, sell me . . .
Don’t sell me dry-cleaning, sell me . . .
Don’t sell me life insurance, sell me . . .
“Customers do not inherently want to buy products. Products cost money and, for corporate buyers, reduce profits. Customers buy products for the benefits that the product features provide.”
Russell S. Winer
Professor of Marketing-NYU Stern
D e s i g n i n g S t r a t e g i e s
Five types of needs:
Stated:
I want a cheap flight!
Real:
I need to fly from A to B for a low fare
Unstated:
I expect a good schedule and no delays
Delight:
I would like comfort seats and appetizers
Secret:
I would like my friends to see me as a clever consumer
Five types of needs:
Stated:
I want a cheap flight!
Real:
I need to fly from A to B for a low fare
Unstated:
I expect a good schedule and no delays
Delight:
I would like comfort seats and appetizers
Secret:
I would like my friends to see me as a clever consumer
Market divided into SEGMENTS
Target Markets are chosen among SEGMENTS
Target Markets are reached through Marketing Channels
Five types of needs:
Stated:
I want a cheap flight!
Real:
I need to fly from A to B for a low fare
Unstated:
I expect a good schedule and no delays
Delight:
I would like comfort seats and appetizers
Secret:
I would like my friends to see me as a clever consumer
Communications
Channel
Distribution
Channel
Services
Channel
"
Price
is what you
pay
,
value
is what you
get
"
Warren Buffett
Value
Cost
P r i c e
Market Offering = Value Proposition
Objective
Market Opportunities
Mission
Competitive advantage
Market overview
Market segments
Competitive lanscape
Strategy
Marketing
Mix
...
Market
Opportunities
New Market Segments
Go-to-market Approach
Differentiating Functionality
Financial
Market Share
Product/Service
Brand
Customer
Porter Generic Strategies
Ansoff Growth Strategies
Product/Service Strategies
Aaker Brand Strategies
Customer-Based Strategies
Product/Service
Strategies
Custom Applications
Innovation
Focus
Responsiveness
Low
Cost
Quality
Attributes
Customer
Strategies
Customer
Acquisition
Customer
Retention
Customer
Revenue Growth
Full transcript