Chapter 10 Notes - Lindbergh School District
... Seven Functions of Marketing 5. Product/Service Management obtaining information, developing and maintaining products to compete in the market 6. Promotion communication to attract customers 7. Selling communicating directly with customers to determine and satisfy needs relationship marketing: build ...
... Seven Functions of Marketing 5. Product/Service Management obtaining information, developing and maintaining products to compete in the market 6. Promotion communication to attract customers 7. Selling communicating directly with customers to determine and satisfy needs relationship marketing: build ...
Product Development Process
... Every year millions of rupees are being spent on R&D for new products development. Such a huge investment is necessary as new products are the only means of survival of a firm. New product development provides a number of advantages to the enterprise. It helps in producing goods & services of best ...
... Every year millions of rupees are being spent on R&D for new products development. Such a huge investment is necessary as new products are the only means of survival of a firm. New product development provides a number of advantages to the enterprise. It helps in producing goods & services of best ...
No Slide Title
... • Satisfaction is a person’s feelings of pleasure or disappointment resulting from comparing a product’s perceived performance (or outcome) in relation to his or her expectations • Satisfaction is a function of perceived performance and expectations ...
... • Satisfaction is a person’s feelings of pleasure or disappointment resulting from comparing a product’s perceived performance (or outcome) in relation to his or her expectations • Satisfaction is a function of perceived performance and expectations ...
Marketing Management
... including technological advances, shifts in consumer tastes, and increased domestic and foreign competition. All can lead to overcapacity, increased price cutting and profit erosion. The decline might be slow, as in the case of sewing machines, or rapid, as in the case of 5.25 floppy disks. Sales ma ...
... including technological advances, shifts in consumer tastes, and increased domestic and foreign competition. All can lead to overcapacity, increased price cutting and profit erosion. The decline might be slow, as in the case of sewing machines, or rapid, as in the case of 5.25 floppy disks. Sales ma ...
glossary - Stepinoff + Crosier
... branding strategy the number and nature of common and distinctive brand elements applied to the different products sold by the firm. breakeven analysis a means by which management estimates how many units of the product the company would have to sell to break even with the given price and cost struc ...
... branding strategy the number and nature of common and distinctive brand elements applied to the different products sold by the firm. breakeven analysis a means by which management estimates how many units of the product the company would have to sell to break even with the given price and cost struc ...
A Primer on Time-Variant Electricity Pricing
... integrated) and the different types of costs and system conditions the utility needs to manage (e.g., wholesale supply constraints, constrained capacity on the distribution system, critical peaks, daily peaks, etc.). 7 Recognizing these factors, utilities throughout the country have begun to impleme ...
... integrated) and the different types of costs and system conditions the utility needs to manage (e.g., wholesale supply constraints, constrained capacity on the distribution system, critical peaks, daily peaks, etc.). 7 Recognizing these factors, utilities throughout the country have begun to impleme ...
Chapter 6
... • Innovation involves the firm in a pioneering effort; innovations of this type can even result in new product categories. • New product lines allow a firm to enter new markets with a new group of closely related product items that are considered a unit based on technical, or end-use, considerations ...
... • Innovation involves the firm in a pioneering effort; innovations of this type can even result in new product categories. • New product lines allow a firm to enter new markets with a new group of closely related product items that are considered a unit based on technical, or end-use, considerations ...
3.01 Vocabulary
... PRICING: A marketing function that involves the determining and adjusting of prices to maximize return and meet customers' perceptions of value. PRICING OBJECTIVES: Goals a company hopes to accomplish through its pricing strategies. PRICE SKIMMING: A pricing strategy that involves setting prices hig ...
... PRICING: A marketing function that involves the determining and adjusting of prices to maximize return and meet customers' perceptions of value. PRICING OBJECTIVES: Goals a company hopes to accomplish through its pricing strategies. PRICE SKIMMING: A pricing strategy that involves setting prices hig ...
3.01 vocab
... PRICING: A marketing function that involves the determining and adjusting of prices to maximize return and meet customers' perceptions of value. PRICING OBJECTIVES: Goals a company hopes to accomplish through its pricing strategies. PRICE SKIMMING: A pricing strategy that involves setting prices hig ...
... PRICING: A marketing function that involves the determining and adjusting of prices to maximize return and meet customers' perceptions of value. PRICING OBJECTIVES: Goals a company hopes to accomplish through its pricing strategies. PRICE SKIMMING: A pricing strategy that involves setting prices hig ...
Product Life Cycle
... ◦ Millions of dollars spent to educate consumers ◦ Major task: getting product in the marketplace ...
... ◦ Millions of dollars spent to educate consumers ◦ Major task: getting product in the marketplace ...
Marketing
... Market segmentation; dividing the market into different groups of buyers who have different needs, and who might require separate products or marketing mix. Target marketing; the process of evaluation each market segment’s attractiveness and selecting one ore more segments to enter. Market position ...
... Market segmentation; dividing the market into different groups of buyers who have different needs, and who might require separate products or marketing mix. Target marketing; the process of evaluation each market segment’s attractiveness and selecting one ore more segments to enter. Market position ...
Market - Assignment Point
... 3.1. Monopolistic competition Monopolistic competition is a type of imperfect competition such that competing producers sell products that are differentiated from one another as good but not perfect substitutes (such as from branding, quality, or location). In monopolistic competition, a firm takes ...
... 3.1. Monopolistic competition Monopolistic competition is a type of imperfect competition such that competing producers sell products that are differentiated from one another as good but not perfect substitutes (such as from branding, quality, or location). In monopolistic competition, a firm takes ...
Developing a Strategic Marketing Plan for Horticultural Firms Gerald
... environment facing the business (e.g. trends, competitive environment, regulatory issues, technological advancements, etc.) Thus, the emphasis is not only on projections but also on an in-depth understanding of the market environment, particularly competitors and customers. Its goals are to take max ...
... environment facing the business (e.g. trends, competitive environment, regulatory issues, technological advancements, etc.) Thus, the emphasis is not only on projections but also on an in-depth understanding of the market environment, particularly competitors and customers. Its goals are to take max ...
Create
... should buy a product or use a service. • This statement should convince a potential consumer that one particular product or service will add more value or better solve a problem than other similar offerings. ...
... should buy a product or use a service. • This statement should convince a potential consumer that one particular product or service will add more value or better solve a problem than other similar offerings. ...
Strategic Planning PPT - Strategy
... that are squarely focused on those three circles. Regardless of whether the market is up or down, great companies that adhere to those circles are, in the long run, likely to have more growth than they can handle— indigestion, not starvation. The same holds true for creative people who discover what ...
... that are squarely focused on those three circles. Regardless of whether the market is up or down, great companies that adhere to those circles are, in the long run, likely to have more growth than they can handle— indigestion, not starvation. The same holds true for creative people who discover what ...
mrkt 435 advertising midterm exam content 2
... Demographic segmentation Demographics are general customer and consumer characteristics, e.g. age, income, education and gender. Demographic segmentation is the most common method of dividing the overall market. Their popularity is based on the ease with which they can be measured, their association ...
... Demographic segmentation Demographics are general customer and consumer characteristics, e.g. age, income, education and gender. Demographic segmentation is the most common method of dividing the overall market. Their popularity is based on the ease with which they can be measured, their association ...
CHAPTER 4
... Once a company has decided which segments to enter, it must decide what “positions” it wants to occupy in those segments. A product’s position is the place the product has in consumer’s minds relative to competing products. In other words, a product’s position is the set of perceptions, impressions, ...
... Once a company has decided which segments to enter, it must decide what “positions” it wants to occupy in those segments. A product’s position is the place the product has in consumer’s minds relative to competing products. In other words, a product’s position is the set of perceptions, impressions, ...
Service parts pricing
Service Parts Pricing refers to the aspect of Service Lifecycle Management that deals with setting prices for service parts in the after-sales market. Like other streams of Pricing, Service Parts Pricing is a scientific pursuit aimed at aligning service part prices internally to be logical and consistent, and at the same time aligning them externally with the market. This is done with the overarching aim of extracting the maximum possible price from service parts and thus maximize the profit margins. Pricing analysts have to be cognizant of possible repercussions of pricing their parts too high or too low in the after-sales market; they constantly have to strive to get the prices just right towards achieving maximum margins and maximum possible volumes.The after-sales market consists of service part and after-sales service. These areas often account for a low share in total sales, but for a relatively high share in total profits. It is important to understand that the after-sales supply chain is very different from the manufacturing supply chain, and hence rules that apply to pricing manufacturing parts do not hold good for pricing service parts. Service Parts Pricing requires a different outlook and approach.Service networks deal with a considerably higher number of SKUs and a heterogeneous product portfolio, are more complex, have a sporadic nature of demand AND have minimal response times and strict SLAs. Companies have traditionally been content with outsourcing the after-sales side of their business and have encouraged third-party parts and service providers in the market. The result has been a bevy of these operators in the market with strict price competition and low margins.Increasingly, however, companies are realizing the importance of the after-sales market and its impact on customer retention and loyalty. Increasingly, also, companies have realized that they can extract higher profit margins from the after-sales services market due to the intangible nature of services. Companies are investing in their after-sales service networks to deliver high levels of customer service and in return command higher prices for their parts and services. Customers are being sold the concept of total cost of ownership (TCO) and are being made to realize that buying from OEMs comes packaged with better distribution channels, shorter response times, better knowledge on products, and ultimately higher product uptime.The challenge for companies is to provide reliable service levels in an environment of uncertainty. Unlike factories, businesses can’t produce services in advance of demand. They can manufacture them only when an unpredictable event, such as a product failure, triggers a need. The challenge for Service Parts Pricing is to put a value to this customer need. Parts that are critical, for example, can command higher prices. So can parts that only the OEM provides in the market. Parts that are readily available in the market cannot, and must not, be priced to high. Another problem with after-sales market is that demand cannot be stimulated with price discounts, customers do not stock up service parts just because they are on discount. On the up-side, the fact that most service parts are inelastic means pricing analysts can raise prices without the adverse effects that manufacturing or retail networks witness.These and other characteristics of the after-sales market give Service Parts Pricing a life of its own. Companies are realizing that they can use the lever of service part pricing to increase profitability and don't have to take prices as market determined. Understanding customer needs and expectations, along with the company's internal strengths and weaknesses, goes a long way in designing an effective service part pricing strategy.