Marketing - Fleming College
... How you want your product or service (yourself) to be perceived by the customer (potential employer) What is your point of difference (POD) Create an image or identity in mind of the customer ...
... How you want your product or service (yourself) to be perceived by the customer (potential employer) What is your point of difference (POD) Create an image or identity in mind of the customer ...
4 Ps of Marketing
... More accurately, a market is that group of people who have enough similarities among them that they tend to purchase the same items or services. ...
... More accurately, a market is that group of people who have enough similarities among them that they tend to purchase the same items or services. ...
Market Segmentation is…
... Determining and responding to customer’s needs and wants through personalized communication. It is intended to influence purchase decisions and increase customer satisfaction. For example, at the Limited, Taylor searches for a birthday present for her sister, when Gwen (a sales associate) asks if sh ...
... Determining and responding to customer’s needs and wants through personalized communication. It is intended to influence purchase decisions and increase customer satisfaction. For example, at the Limited, Taylor searches for a birthday present for her sister, when Gwen (a sales associate) asks if sh ...
to chapter 7 lecture
... push prices lower than the cost of production for a short period of time. g. Oligopolists’ final prices are likely to be higher than under monopolistic competition and much higher than under perfect competition. 4. monopoly a. monopoly is a market structure with only one seller of a particular produ ...
... push prices lower than the cost of production for a short period of time. g. Oligopolists’ final prices are likely to be higher than under monopolistic competition and much higher than under perfect competition. 4. monopoly a. monopoly is a market structure with only one seller of a particular produ ...
Marketing_Assessment_Student-2
... Identify the 4 keys to Marketing- Product, Place, Price, and Promotion. Determine promotion strategies Explain the need for Market Research and Analysis Identify the 4 who’s of Marketing- User, Decision Maker, Buyer, and Influencer. Examine demographic information about customers, and competition. ...
... Identify the 4 keys to Marketing- Product, Place, Price, and Promotion. Determine promotion strategies Explain the need for Market Research and Analysis Identify the 4 who’s of Marketing- User, Decision Maker, Buyer, and Influencer. Examine demographic information about customers, and competition. ...
Lecture Notes
... Placement: This refers to how the product gets to the buyer; for instance, point-ofsale assignment or retailing. This P has furthermore at times been called Place, referring to the channel by which a product or service is sold (e.g. online vs. retail), which geographic region or industry, to which d ...
... Placement: This refers to how the product gets to the buyer; for instance, point-ofsale assignment or retailing. This P has furthermore at times been called Place, referring to the channel by which a product or service is sold (e.g. online vs. retail), which geographic region or industry, to which d ...
Marketing Mngmt I
... – shopping goods-seek to compare style & prices, less frequently purchased (name brand clothing) – specialty goods-special effort to shop in a particular store, substitutions not accepted, prices high – unsought goods-consumer doesn’t know about product or does know & ignores them (casket) ...
... – shopping goods-seek to compare style & prices, less frequently purchased (name brand clothing) – specialty goods-special effort to shop in a particular store, substitutions not accepted, prices high – unsought goods-consumer doesn’t know about product or does know & ignores them (casket) ...
Marketing Module 4: Competitor Analysis
... demographic, economic, technological, political, legal, social and cultural factors, etc. The micro-environment includes the customers, competitors, distributors and suppliers. ...
... demographic, economic, technological, political, legal, social and cultural factors, etc. The micro-environment includes the customers, competitors, distributors and suppliers. ...
school-based enterprise instructional units
... Product mix pricing strategies are actually a group of several different pricing techniques: • Price lining is the designation of different “lines” of products through their prices. A jewelry store might sell bracelets at price points of $50, $75, and $100. The customer views these differences in p ...
... Product mix pricing strategies are actually a group of several different pricing techniques: • Price lining is the designation of different “lines” of products through their prices. A jewelry store might sell bracelets at price points of $50, $75, and $100. The customer views these differences in p ...
Marketing Basics
... Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods and services to create exchanges that satisfy individual and ...
... Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods and services to create exchanges that satisfy individual and ...
Use for SEM 1 (1.02) Basic Terms/Concepts Marketing Review
... A market includes the group of all potential customers who share common needs and wants, and have the ability and willingness to buy the product. Businesses must understand who their potential customers are in order to effectively meet their needs and wants. Mass marketing is a single marketing plan ...
... A market includes the group of all potential customers who share common needs and wants, and have the ability and willingness to buy the product. Businesses must understand who their potential customers are in order to effectively meet their needs and wants. Mass marketing is a single marketing plan ...
Document
... Promotion comes from the Latin word promovere, which means to move forward, or to contribute to growth or prosperity of something. Promotion was defined earlier as all of the tools, other than marketing research that a marketer uses to directly interact with their markets. Those tools collectively a ...
... Promotion comes from the Latin word promovere, which means to move forward, or to contribute to growth or prosperity of something. Promotion was defined earlier as all of the tools, other than marketing research that a marketer uses to directly interact with their markets. Those tools collectively a ...
Three-Tier Pricing Strategy
... wholesale price paid by the retailers instead of asking the consumer to mail in the coupon? What is wrong with a traditional fixed-price ...
... wholesale price paid by the retailers instead of asking the consumer to mail in the coupon? What is wrong with a traditional fixed-price ...
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.