Market Segmentation, Targeting and Positioning
... Differences from other groups Similarities within the group regarding wants, buying preferences, or buying behavior ...
... Differences from other groups Similarities within the group regarding wants, buying preferences, or buying behavior ...
1-5 The 4 P`s of Marketing
... There's a lot of truth in this idea. However, a lot of hard work needs to go into finding out what customers want, and identifying where they do their shopping. Then you need to figure out how to produce the item at a price that represents value to them, and get it all to come together at the critic ...
... There's a lot of truth in this idea. However, a lot of hard work needs to go into finding out what customers want, and identifying where they do their shopping. Then you need to figure out how to produce the item at a price that represents value to them, and get it all to come together at the critic ...
Midterm Exam - Bauer College of Business
... a) Advertising can promote a “me too” product into substantially increasing its volume of sales b) A superior brand can successfully charge a price higher than the price competitors charge c) Association with an exciting activity like NASCAR racing raises total category demand d) Lubricants and gaso ...
... a) Advertising can promote a “me too” product into substantially increasing its volume of sales b) A superior brand can successfully charge a price higher than the price competitors charge c) Association with an exciting activity like NASCAR racing raises total category demand d) Lubricants and gaso ...
chap007p
... • Describe the issues involved in product and brand positioning. • Understand the alternative bases for segmenting consumer and business-tobusiness markets. • Evaluate alternative approaches for pursuing segmentation strategies. ...
... • Describe the issues involved in product and brand positioning. • Understand the alternative bases for segmenting consumer and business-tobusiness markets. • Evaluate alternative approaches for pursuing segmentation strategies. ...
Chapter 15 Notes
... unfair and deceptive trade practicepractices that mislead or have the potential to mislead consumers deceptive pricing- raise prices for a while then lower them and claim this as a sale Example 1 ...
... unfair and deceptive trade practicepractices that mislead or have the potential to mislead consumers deceptive pricing- raise prices for a while then lower them and claim this as a sale Example 1 ...
Economic Profit = Revenue – Accounting Cost
... – Input is a critical component of production – Supplier industry more concentrated than the industry it services • Relative concentration is what matters – Firms in the analyzed industry purchase relatively small volumes relative to other customers of the supplier. • The more important an industry ...
... – Input is a critical component of production – Supplier industry more concentrated than the industry it services • Relative concentration is what matters – Firms in the analyzed industry purchase relatively small volumes relative to other customers of the supplier. • The more important an industry ...
Introduction to Marketing MM I
... A transaction is an exchange between two things of value on agreed conditions and a time and place of agreement. A transfer is a one way exchange without receiving anything in return. ...
... A transaction is an exchange between two things of value on agreed conditions and a time and place of agreement. A transfer is a one way exchange without receiving anything in return. ...
Chapters 16, 17, 18
... Users vs. non-users (primary vs. selective demand) Target market criteria (demographic, geographic, psychographic, benefit segmentation) Everybody -- no narrowing down (mass customization, Post-It notes) The real issue here is commitment -- by all NPD participants and by management ...
... Users vs. non-users (primary vs. selective demand) Target market criteria (demographic, geographic, psychographic, benefit segmentation) Everybody -- no narrowing down (mass customization, Post-It notes) The real issue here is commitment -- by all NPD participants and by management ...
Marketing. Part – II. Tests. Test 1. Definitions Fill each gap in the
... Products like Chanel or Christian Dior have a ____________ which is more glamorous than that of many less well – known competitors. In the 1990s most supermarkets began to sell ________ products. A brand name is valuable not only for the main products that are represented by the name, but also for t ...
... Products like Chanel or Christian Dior have a ____________ which is more glamorous than that of many less well – known competitors. In the 1990s most supermarkets began to sell ________ products. A brand name is valuable not only for the main products that are represented by the name, but also for t ...
Download a sample of the Unit F293 Revision Q&A
... What are the main stages of product development? The first step in new product development (NPD) is generating ideas. Suggestions for new products come from within the firm eg research and development department or the marketing department’s analysis of market research findings. Sometimes competitor ...
... What are the main stages of product development? The first step in new product development (NPD) is generating ideas. Suggestions for new products come from within the firm eg research and development department or the marketing department’s analysis of market research findings. Sometimes competitor ...
Intro for Managing in a Modular Age Carl Shapiro and Hal R. Varian
... not physical. Today's raw material for tomorrow's new products are protocols, software, and collections of bits, all of which can be zapped around the world in fractions of a second, at virtually no incremental cost. Manufacturing lags and parts shortages are just not a problem: there are no capacit ...
... not physical. Today's raw material for tomorrow's new products are protocols, software, and collections of bits, all of which can be zapped around the world in fractions of a second, at virtually no incremental cost. Manufacturing lags and parts shortages are just not a problem: there are no capacit ...
Pioneering Lecture - Olin Business School
... Two behavioral advantages In the early stages of the market consumers may know little about the relative importance of their relative attributes » A pioneer influences how different product attributes are valued (Coca-Cola). » The pioneer becomes proto-typical of the category or the standard again ...
... Two behavioral advantages In the early stages of the market consumers may know little about the relative importance of their relative attributes » A pioneer influences how different product attributes are valued (Coca-Cola). » The pioneer becomes proto-typical of the category or the standard again ...
Monopoly A monopoly is a firm who is the sole seller of its product
... the “political failure” associated with regulation. For true natural monopolies, this might be a bad idea, but we should try to deregulate industries that no longer qualify. Long distance phone service in the 1980's, now all phone service, airlines, electricity generation, etc. Especially for indust ...
... the “political failure” associated with regulation. For true natural monopolies, this might be a bad idea, but we should try to deregulate industries that no longer qualify. Long distance phone service in the 1980's, now all phone service, airlines, electricity generation, etc. Especially for indust ...
Document
... Market segmentation Dividing the total heterogeneous market for a product – based on demographic, geographic, psychographic or behavioural criteria – into smaller, homogeneous market segments of buyers who have similar needs and wants or respond in a same way to a distinct marketing strategy (Segmen ...
... Market segmentation Dividing the total heterogeneous market for a product – based on demographic, geographic, psychographic or behavioural criteria – into smaller, homogeneous market segments of buyers who have similar needs and wants or respond in a same way to a distinct marketing strategy (Segmen ...
Generic Business Strategies
... – Probably most effective in industries or markets where price is most important factor (over service, technology, or product characteristics). – Successful cost leaders develop competitive advantage by offering products and services of comparable quality at lower prices than most industry competito ...
... – Probably most effective in industries or markets where price is most important factor (over service, technology, or product characteristics). – Successful cost leaders develop competitive advantage by offering products and services of comparable quality at lower prices than most industry competito ...
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.