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Introduction to marketing strate

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Introduction to marketing strate Powered By Docstoc
					Dr. Mark Scott Rosenbaum
Northern Illinois University
        Lecture 2
                               Whole-Company
                  Marketing      Strategic
                                Management
                  Planning
                                 Planning




 Control Marketing        Implement Marketing
Plan(s) and Program        Plan(s) and Program
Nanotechnology can improve fabrics, making them harder
wearing and more resistant to dirt, water, oils or other chemicals.
Many of these developments are based on what happens in
nature. For example the lotus leaf is covered in nanoscale waxy
“bumps” which causes water to bead and be shed easily (pictured
left). Fruits such as peaches are covered in tiny hairs which
achieve the same effect. By incorporating such features in
manufactured materials they too can be made water and stain
repellent
    The
marketing mix

     C
A mass-marketing strategy sees        A target market strategy sees
consumers as similar, with the same   consumers as different , with
needs and wants.                      varying needs and wants.
Product         Place

          C

 Price        Promotion
   Nanotherapeutics now manufacture
    asthma drugs and painkillers as
    nanoscale powders which are taken
    using an inhaler and are more quickly
    absorbed into the body than traditional
    methods. VivaGel is a an anti-HIV drug
    based on nanoscale particles called
    dendrimers. The drug in action is
    pictured left, the dendrimer (in blue)
    coats cells and prevents the HIV virus
    entering.
          Examples of Channels of Distribution

                                Product          Product
Product        Product



                               Wholesaler        Wholesaler



                                                 Wholesaler



                Retailer         Retailer         Retailer



                         Consumer
Personal
                           Advertising
 Selling

             Telling and
               Selling            Facebook,
            the Customer           Twitter,
                                    Blogs


  Sales
Promotion                      Publicity
    Price of Other     Pricing
                      Objectives       Price
    Products In
                                     Flexibility
    the Line
Competition                            Price Changes
and                                    Over the Life
Substitutes           Price            Cycle
                      Setting
Price                                    Discounts
Sensitivity                              and Credit


    Cost and                       Geographic
                     Legal
    Demand                         Pricing Terms
                     Environment
            Product


              Place                         Selection
                                            of Target
                                            Market
           Promotion


              Price

Understanding the Target Market Leads to Good Strategies!
                    Total Company
                    Effort to Satisfy
                    Customers
Build Profitable                        Offer Superior
Customer                                Customer Value
Relationships

Increase Sales to                       Attract
Customers                               Customers


                                  Satisfy
     Retain Customers
                                  Customers
    NanoDynamics - a nanoscale engineering and
    materials company - has recently produced golf balls
    with nanoscale coating to reduce 'spring' and allow
    a truer contact with the club, producing shots that do
    not go further, but do travel straighter.
   In small groups of 3-4 students, consider that you are
    marketing team at NanoDyanmics
   You see three target customers. 1) Higher-income,
    older golfers who purchase equipment at country
    club golf stores. 2) Golfers who purchase products at
    sporting good stores. 3) Price sensitive golfers who
    shop for products at Amazon.com.
   Develop a marketing mix for each target customer.
     Product: Will you sell many items or a few items ?
     Place: Where will the products be sold? Will your firm
      have control over where its products are sold?
     Price: Will your customer be price sensitive? More price
      sensitive? Less price sensitive? How does the channel
      length/complexity influence the price? Please explain.
     Promotion: How will the target customer learn about the
      golf balls? How can the firm reach the target customer?
      Think about the various promotional techniques.
     We will discuss the answers in class.

				
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posted:4/27/2010
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