Chapter 8 slides
... new-product ideas List and define the steps in the new-product development process and the major considerations in managing this process Describe the stages of the product life cycle and how marketing strategies change during the product’s life cycle ...
... new-product ideas List and define the steps in the new-product development process and the major considerations in managing this process Describe the stages of the product life cycle and how marketing strategies change during the product’s life cycle ...
MATCHING
... An ad for a U.S. Senate candidate is an example of _________. The want satisfying power of a product is its ________. The _________ is where two or more parties exchange something of value. _______ results from management’s failure to recognize the scope of its business. A __________ is one where th ...
... An ad for a U.S. Senate candidate is an example of _________. The want satisfying power of a product is its ________. The _________ is where two or more parties exchange something of value. _______ results from management’s failure to recognize the scope of its business. A __________ is one where th ...
CHAPTER II CONCEPTUAL FRAMEWORK
... drawback of this strategy is that each brand only obtains small market share or even small profit. (4) New brand is a strategy when company decided to introduce a new brand when entering a new product category. The risk is that the company might have lots of brand that requires abundant resources to ...
... drawback of this strategy is that each brand only obtains small market share or even small profit. (4) New brand is a strategy when company decided to introduce a new brand when entering a new product category. The risk is that the company might have lots of brand that requires abundant resources to ...
Chapter 14
... include sales managers, production managers, finance managers, and accountants. Executives complain that pricing is a big headache—and getting worse by the day. Many companies do not handle pricing well and fall back on “strategies” such as: “We determine our costs and take our industry’s traditiona ...
... include sales managers, production managers, finance managers, and accountants. Executives complain that pricing is a big headache—and getting worse by the day. Many companies do not handle pricing well and fall back on “strategies” such as: “We determine our costs and take our industry’s traditiona ...
Section 1 PowerPoint Notes
... Lower Prices – marketing activities add value and increase demand. When demand is high, manufacturers can produce at a lower price. They can sell at a lower price but increase the quantity sold. Thus, profits are higher even though prices are low. ...
... Lower Prices – marketing activities add value and increase demand. When demand is high, manufacturers can produce at a lower price. They can sell at a lower price but increase the quantity sold. Thus, profits are higher even though prices are low. ...
Enhancing Relationships with Client-Centric
... A study by Andersen Consulting found that a company’s ability to effectively manage customer relationships accounts for as much as 64% of the difference in return on sales between average and high performing companies. Recognizing this, many companies have spent significant sums on customer relation ...
... A study by Andersen Consulting found that a company’s ability to effectively manage customer relationships accounts for as much as 64% of the difference in return on sales between average and high performing companies. Recognizing this, many companies have spent significant sums on customer relation ...
Role of marketing
... The marketing concept is a business philosophy that sates that all section of the business are involved in satisfying a customer’s needs and wants while achieving the business’s goals. It is based on four principles: ...
... The marketing concept is a business philosophy that sates that all section of the business are involved in satisfying a customer’s needs and wants while achieving the business’s goals. It is based on four principles: ...
Segmenting, Targeting & Positioning (STP)
... Makes the marketing effort more economical: The resources of a firm are limited. The segmentation exercise ensures that the marketing effort is concentrated on well defined strategies for chosen segments. Segmentation benefits the customers as well: Segmentation brings benefits not only to the marke ...
... Makes the marketing effort more economical: The resources of a firm are limited. The segmentation exercise ensures that the marketing effort is concentrated on well defined strategies for chosen segments. Segmentation benefits the customers as well: Segmentation brings benefits not only to the marke ...
Consumer Behavior: People in the Marketplace
... – Customer retention rather than customer acquisition – From none to in-depth customer ...
... – Customer retention rather than customer acquisition – From none to in-depth customer ...
Chapter 6. Market Segmentation, Targeting, and
... • Segmentation is the process of classifying customers into groups which share some common characteristic • Targeting involves the process of evaluating each segments attractiveness and selecting one or more segments to enter • Positioning is arranging for a product to occupy a clear, distinctive an ...
... • Segmentation is the process of classifying customers into groups which share some common characteristic • Targeting involves the process of evaluating each segments attractiveness and selecting one or more segments to enter • Positioning is arranging for a product to occupy a clear, distinctive an ...
Services
... Brand extensions – use of existing brand on a new category, such as extending from a rock singer into acting Multibrands- use of different brand names by one company. Nestle or Proctor and Gamble ...
... Brand extensions – use of existing brand on a new category, such as extending from a rock singer into acting Multibrands- use of different brand names by one company. Nestle or Proctor and Gamble ...
How small businesses master the art of competition through superior
... businesses through their various promotional programs. This could be accomplished either by offering more promotional programs, or promotions more visible to potential customers. Many sales promotions go unnoticed to the public either through poor timing, poor promotion choices, or not linking the p ...
... businesses through their various promotional programs. This could be accomplished either by offering more promotional programs, or promotions more visible to potential customers. Many sales promotions go unnoticed to the public either through poor timing, poor promotion choices, or not linking the p ...
Unique Marketing Issues
... The product plus all the attributes that come with it such as quality level, features, design, packaging, and warranty. ...
... The product plus all the attributes that come with it such as quality level, features, design, packaging, and warranty. ...
Chapter 2 pp review - Hinsdale Township High School District 86
... 1. stock prices and interest rates 2. competitors and environmental changes 3. competitors and average inventory 4. the fluctuating dollar and the global environment ...
... 1. stock prices and interest rates 2. competitors and environmental changes 3. competitors and average inventory 4. the fluctuating dollar and the global environment ...
... The beverages industry customer base is probably widest and deepest base in the world. According to Beverage Digest, it has an astounding 85% consumer base in the world. The beverages industry is dominated by the carbonated drinks competitors. In fruit juice the intense rivalry with Parle agro, Peps ...
Marketing Management
... Porter’s generic strategies 1. Overall cost leadership – business works hard to achieve lowest production & distribution costs so that it can price lower than competition & win a large market share. Firms pursuing this strategy must be good at engineering, purchasing, manufacturing & physical distr ...
... Porter’s generic strategies 1. Overall cost leadership – business works hard to achieve lowest production & distribution costs so that it can price lower than competition & win a large market share. Firms pursuing this strategy must be good at engineering, purchasing, manufacturing & physical distr ...
Promotional Mix Powerpoint
... distributor sells convenient lot sizes to the retailers from where the consumer buys it; and • The distributor could sell the product to a wholesaler who then sells it to the retailer from where the consumer ...
... distributor sells convenient lot sizes to the retailers from where the consumer buys it; and • The distributor could sell the product to a wholesaler who then sells it to the retailer from where the consumer ...
Product Strategy
... Commit resources and establish contractual relationships that are difficult or impossible to change Expanding into new markets could mean a complete change in distribution If a company does not manage its channel efficiently, a competitor may evolve to create a more effective distribution system ...
... Commit resources and establish contractual relationships that are difficult or impossible to change Expanding into new markets could mean a complete change in distribution If a company does not manage its channel efficiently, a competitor may evolve to create a more effective distribution system ...
of a product? - Muncy School District
... production and financial planning- the company develops a production procedure and identifies the facilities, equipment, and people that will be needed to produce the product. limited production and test marketing- if a new product idea makes its way through the planning process , a company may prod ...
... production and financial planning- the company develops a production procedure and identifies the facilities, equipment, and people that will be needed to produce the product. limited production and test marketing- if a new product idea makes its way through the planning process , a company may prod ...
Marketing Exam Review 1 Which of the following is a type of internal
... B. Psychographic C. Behavioral D. Geographic ...
... B. Psychographic C. Behavioral D. Geographic ...
Slide 1
... • “We abuse the land because we regard it as a commodity belonging to us. When we see the land as a community to which we belong we may begin to use it with love and respect.” ...
... • “We abuse the land because we regard it as a commodity belonging to us. When we see the land as a community to which we belong we may begin to use it with love and respect.” ...
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.