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Transcript
Part 1
Enduring Principles in Times of Turmoil
Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall
2-1
1.
2.
3.
4.
How is marketing defined, what is the marketing
process, and what are marketing’s key concepts?
How does marketing communication contribute
to the development of a brand?
What is integrated marketing communication, and
what are its key concepts?
How is brand communication evolving during a
time of change?
Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall
2-2
Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall
2-3
Much of a product’s value is created by marketing
decisions that determine its:
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Design
Ease of use
Distribution
Pricing
Marketing
communication
Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall
2-4
Marketing is designed to build brand and
customer relationships that:


generate sales and profits.
for nonprofits: volunteers and donations.
Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall
2-5
Marketing is the way a product is:
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
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

Designed
Tested
Produced
Branded
Priced
Distributed
Promoted
Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall
2-6
“Marketing is the activity, set of institutions, and
processes for creating, communicating, delivering,
and exchanging offerings that have value for
customers, clients, partners, and society at large.”
The American Marketing Association
Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall
2-7
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Marketing also focuses on managing
customer relationships to benefit all of a
brand’s stakeholders.
Stakeholders are all individuals and groups
who have a stake in the success of the brand.
Positive relationships create value for a brand.
Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall
2-8
Traditionally speaking…
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
The objective of most marketing programs has
been to sell products, i.e, goods, services, or
ideas.
This is done by matching a product’s availability
to the consumer’s need, desire or demand.
Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall
2-9
What is a product category?

It is the classification to which the product is
assigned. Consider:
◦ Apple Macintosh: the computer category
◦ Burger King: the fast-food category
Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall
2-10
Marketing managers manipulate the marketing
mix, also called the four Ps:
1.
2.
3.
4.
Product
Price
Place
Promotion
Urban Decay product cosmetics project
a street-smart attitude in their
packaging and product names.
Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall
2-11
The concept of exchange


Marketing helps create demand for a product leading
to an exchange – trading something of value for a
desired product.
Demand drives the exchange.
As a class: Consider the Wii launch described in this
chapter. How did Nintendo manipulate demand in this
case?
Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall
2-12
Who are the key players?
There are five categories:
1.
2.
3.
4.
5.
Marketers
Suppliers
Vendors
Distributors
Marketing partners
How is this information important as a career guide?
Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall
2-13
A market is not only a place, but a type of
buyer. They include:
1.
2.
3.
4.
Consumer
Business-to-business
Institutional
Channel
Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall
2-14
Why is services marketing important?
Services are the dominant part of the economy in most
developed countries.
Many goods manufacturers also offer services such as
parts, repair, and financing.
Most companies have a customer service operation to
provide follow-up services.
Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall
2-15
“In many economies, service marketing, which
is intangible and creates a more personal
relationship with the customer, dominates
goods marketing.”
Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall
2-16
This group of ads demonstrates advertising directed at three types of
markets: consumer (Keds), institutional (GE aircraft engines), and
channel (“Ka-ching”). What are the similarities and differences in
these advertisements?
Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall
2-17
The seven steps:
1.
2.
3.
4.
5.
6.
7.
Research the consumer market.
Set objectives for the marketing effort.
Segment the market and target specific markets.
Differentiate and position the product.
Develop the marketing mix strategy.
Execute the strategies.
Evaluate the effectiveness of the strategy.
Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall
2-18
The marketing concept says…
“Marketing should focus first on identifying the
needs and wants of the consumer, rather
than just the company’s production
capabilities.”
Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall
2-19
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Differentiation makes the
brand stand out from
its competition.
This is known as positioning.
How a brand is different and
superior is called competitive
advantage.
Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall
2-20
Maytag washers
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How does Maytag differentiate its products?
How are they positioned relative to the
competition?
What competitive advantages does Maytag enjoy?
To learn more, go to www.maytag.com
Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall 2-21
Added value
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Marketing communication activities are also
useful because they add value to a product.
Added value makes a product more valuable,
useful, or appealing to a consumer.
Consider the added value of:
◦ Harley-Davidson Motorcycles
◦ Idaho Potatoes
Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall
2-22
Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall
2-23
The product
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
Design, performance, and quality are key
elements.
Communication works to:
◦ build awareness of a brand.
◦ explain how the new product works.
◦ explain how it differs form competitors.
Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall
2-24
Pricing
It is based on:

What the market will bear.
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The competition.
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What the consumer can afford.

The relative value of the product.

The consumer’s ability to gauge that value.
The price sends a message!
Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall
2-25
Place (distribution)
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It includes the channels used to make the product
easily accessible to customers.
The distribution channel also sends a message.
The Internet raises new distribution questions
related to “clicks or bricks.”
Marketers may use a “push” or “pull” strategy.
Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall
2-26
Puma is a global brand that has left its paw prints in more than 80
countries. Go to www.puma.com to see Puma’s newest designs.
How important is design to this manufacturer? How can you assess
that and other marketing mix decisions from this website?
Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall
2-27
Marketing communication
This includes:

Advertising
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Public relations
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Sales promotion
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Direct response

Events and sponsorships

Point of sale

Digital media

And more
Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall
2-28
“Every part of the marketing mix, not just
marketing communication, sends a message.”
Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall
2-29
Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall
2-30
Let’s define “brand:”
A brand is a perception, often imbued with
emotion, which results from experiences with
and information about a company or a line of
products.”
Products carry brands, but so do organizations…
Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall
2-31
“A Matter of Practice: The Complex World of
Organization Branding”
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
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In the early 21st century, almost anything with a
name is regarded as a brand.
Branding relates to all organizations and entities in
society.
The brand is the linchpin between an organization
and its stakeholders.
Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall
2-32
“A brand is a unified vision (the art) and a
complex system (the science).”
Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall
2-33


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Meaning-making ideas and images are what
marketing communication delivers to brands.
This perception, called brand meaning, is the one
aspect of a brand that can’t be copied.
A brand, then, is a basically perception loaded
with emotions and feelings.
Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall
2-34
“A brand transforms products into something
more meaningful than the product itself.”
Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall
2-35
Successful brands:
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
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Are distinctive
Create an association
Offer a benefit
Carry a heritage
Are simple
Are often based on a distinctive graphic:
a logo, trademark, character or other visual cue
Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall
2-36
Brand position and promise


Brand position identifies the location a product
or brand occupies in consumers’ minds relative
to competitors.
Brand promise identifies key selling points for
the product.
Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall
2-37
Brand image and personality
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
Brand image is a mental picture or idea about a
brand that contains both associations and
emotions.
Brand personality symbolizes the personal
qualities of people you know
Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall
2-38
Celestial Seasonings uses its distinctive packages to send
messages to consumers about its brand image. In what way
do packages like this reinforce the brand personality?
Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall
2-39
Brand value
The value of branding lies in the power of
familiarity and trust to win and maintain
consumer acceptance.
Brand value comes in two forms:
1.
2.
Value to a consumer
Value to the corporation
Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall
2-40
Brand equity defined
“The intangible value of the
brand based on the
relationships with its
stakeholders as well as its
intellectual property value.”
Brands have a financial value
that can be plotted on a
balance sheet.
Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall
2-41
“Brand relationships drive brand value.”
Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall
2-42
Leveraging brand equity
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


Brand extension
The use of an established brand name with a
related line of products.
Co-branding
Uses two brand names owned by two separate
companies to create a partnership offering.
Brand licensing
The brand is rented to another business partner.
Ingredient branding
The brand name is used in manufacturing,
advertising or other promotion.
Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall
2-43
Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall
2-44
IMC is the practice of unifying all marketing
communication messages and tools, as
well as the messages from the marketing
mix decisions so that they send a
consistent message promoting the
brand’s strategy.
Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall
2-45
“You can’t be integrated externally if you are
not integrated internally.”
Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall
2-46
Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall
2-47
Managers are challenged to prove they are
pursuing the most effective marketing
strategies.
Return on investment (ROI)
What did the program cost, and what did it
deliver?
Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall
2-48

Global marketing is growing rapidly.

A local brand is marketed in a single country.
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
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A regional brand is one marketed throughout a
global region.
An international brand is available in many
different countries.
A global brand is available virtually everywhere
in the world.
Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall
2-49
In Chapter 3, we will:



Explore social responsibility.
Discuss issues related to the social impact of
marketing communication.
Examine marcom ethics and regulation.
Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall
2-50
“Winning the Video Game War with



”
Key lessons:
Leo Burnett’s campaign for Nintendo beat the
competition at their own game.
The campaign aimed to fundamentally change how
people experience video games.
Nintendo was recently judged tops in game ads for
effectiveness in print, television, and digital media.
As a class: What others can you think of?
Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall
2-51