Download PRODUCT

Letter of complaint
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→ RB, p 77
Check out phrases on p 79
P 82, exercises 11 & 12
Exchange readers and compare
TASK
PRODUCTS AND BRANDS
“BRAND” OR “PRODUCT”?
• Anything capable of satisfying a need
or a want.
• A distinguishing symbol, mark, logo,
name, word, sentence or a
combination of these items that
companies use to distinguish their
product from others in the market.
“U11: PRODUCTS AND BRANDS”
(MK, p. 60)
PARAGRAPH ONE:
• HEADING?
• DEFINITION of product?
• EXAMPLES OF PRODUCTS?
• PRODUCT LINE?
• Other useful expressions?
• EXPLAIN: Companies are... constantly reevaluating their product mix.
• Why do companies’ product mixes regularly
change?
PARAGRAPH TWO
•
•
•
•
HEADING?
DEFINITION?
OBJECTIVES OF BRANDING?
HOW IS BRAND RECOGNITION
ACHIEVED?
• B2B?
• B2C?
• Other useful expressions?
Do you recognize them?
x
4
3
1
2
8
9
5
10
w
z
y
6
7
BEST GLOBAL BRANDS?
Image?
Feelings?
Associations?
• Which brands do you have an emotional
attachment to because they represent
your attitudes and feelings?
PARAGRAPH THREE
• HEADING?
• CORPORATE BRAND NAME vs.
INDIVIDUAL BRAND NAME – give
examples
• MULTI-BRAND STRATEGY
– give examples
– give reasons
PARAGRAPH FOUR
HEADING?
BEST GLOBAL BRANDS
WORTH OF A BRAND vs. COMPANY’S
PHYSICAL ASSETS
EXPLAIN: A company’s market value can be
much greater than its book value.
WHY?
HW: Vocabulary p 61
Letter of apology
• → RB, p 78
• p 82, exercises 13 & 14
HW:
1. Study RB pp 67 – 80
2. Do all tasks on pp 81-82
3. Revision: QUIZ (pp 83-85)
4. Write a letter of apology, RB p 78
Marketing, MK U 12, p 64
→ MK p 64: Lead-in
Selling vs. Marketing
• Focus on:
PRODUCT
– selling
– inward looking
– out-dated
– shorter
– about profit now
– introverted
vs.
CONSUMER
...
...
...
...
…
…
Selling vs. Marketing
• Focus on:
PRODUCT
– selling
– inward looking
– out-dated
– shorter
– about profit now
– introverted
vs.
CONSUMER
buying
outward looking
state-of-the-art
longer time horizon
about profit later
extroverted
The selling & marketing concepts
• The “selling concept”:
– You sell what you ________.
• The “marketing concept”:
– You make what ______________.
• Marketers __________ needs,
__________ and __________ new ones.
• Examples of new “needs”:
The selling & marketing concepts
• The “selling concept”:
– You sell what you make.
• The “marketing concept”:
– You make what will be bought.
• Marketers satisfy needs, anticipate and create
new ones.
• Examples of new “needs”:
– Walkman, video recorders, CD players, PCs, Internet,
Google, mountain bikes, Facebook...
Marketing Process
Devise/analyse
marketing strategy
Monitor consumer
reaction/sales
performance
Re-assess
consumer reaction/
Sales levels
If necessary
adapt
marketing strategy
Marketing activities
I
• Identify/anticipate
needs/wants of
target consumers
(market research):
– internal research
– secondary data
– focus group
interviews
– quest. research
– sales staff...
• Analyze data
II
• Satisfy the needs
better than the
competition –
strategic decisions
about:
–
–
–
–
product (design)
pricing
promotion
distribution
(placement)
product (design, quality, features, style,
brand name, size, packaging, services and
guarantee)
product (design, quality, features, style,
brand name, size, packaging, services and
guarantee)
pricing (basic list price, discounts, length of
the payment period, credit terms...)
product (design, quality, features, style,
brand name, size, packaging, services and
guarantee)
pricing (basic list price, discounts, length of
the payment period, credit terms...)
place (distribution channels, locations of
points of sale, transport, inventory size...)
Elements of the marketing programme
(integration and the cost of it?)
product (design, quality, features, style,
brand name, size, packaging, services and
guarantee)
pricing (basic list price, discounts, length of
the payment period, credit terms...)
place (distribution channels, locations of
points of sale, transport, inventory size...)
promotion (advertising, publicity, sales
promotion and personal selling)
The Marketing Mix (The Four P’s)
product (design, quality, features, style,
brand name, size, packaging, services and
guarantee)
pricing (basic list price, discounts, length of
the payment period, credit terms...)
place (distribution channels, locations of
points of sale, transport, inventory size...)
promotion (advertising, publicity, sales
promotion and personal selling)
→ MK, p 64, Vocabulary
Reading: The product life cycle
Marketing Process
Devise/analyse
marketing strategy
Monitor consumer
reaction/sales
performance
Re-assess
consumer reaction/
Sales levels
If necessary
adapt
marketing strategy
Identifying market opportunities
Market opportunities – profitable __________ of
fillling unsatisfied ________ or creating
_______ ones in areas in which the company is
likely to be more successful than the
_____________.
Market opportunities are isolated by market
segmentation.
Market segmentation is a process of _________
a market into distinct _________ of buyers who
have different __________ or buying _______.
Identifying market opportunities
Market opportunities – profitable possibilities of
fillling unsatisfied needs or creating new ones
in areas in which the company is likely to be
more successful than the competition.
Market opportunities are isolated by market
segmentation.
Market segmentation is a process of dividing a
market into distinct groups of buyers who have
different requirements or buying habits.
Target markets identified by market
segmentation
- BABY BOOMERS, X-GENERATION,
Y-GENERATION, Z-GENERATION…
- YUPPIES, GUPPIES, MILKIES,
DUMPS, SWELLS, DINKS, SKIPPIES,
BOBOS, FEMS, SINKIES, MINKIES,
WOOPIES, KIPPERS…
Market segmentation
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
School Kids with Income and Purchasing Power
Double Income No Kids
Burnt-Out-But Opulent (people)
Green Upward-mobile Professionals
First-time Expectant Mothers
Single Women Expect Lots in London
Modest Introverted Luxury Keeper
Young Upwardly-mobile Profesionals
Downwardly-Mobile Professionals
Single/Middle Income No Kids
Well Off Older People
Kids In Parents’ Pockets Eroding Retirement Savings
REVIEW: What is ....? (Round 1)
1 A promise by a manufacturer or seller to repair or
replace defective goods during a certain period of time
2 To introduce a new product onto the market
3 Attributes of a product: quality, price, reliability
4 A small specialized, but profitable market segment
5 The possibility of paying for a product over an extended
period of time
6 The standard pattern of sales of a product over the
period that it is marketed
7 The set of beliefs that the public at large holds of an
organization
8 Dividing a market into distinct groups of buyers who
have different requirements or buying habits
What is ....? (Round 2)
1
2
3
4
5
6
7
8
Possibility of filling unsatisfied needs in sectors in
which a company can profitably produce goods or
services
The extent to which an activity provides financial gain
The sales of a company expressed as a percentage of
total sales in a given market
All the companies or individuals involved in moving a
product from the producer to the consumer
Wrappers and containers in which products are sold
Consumers who buy various competing products
rather than being loyal to a particula brand
Collecting, analysing and reporting data relevant to a
specific marketing situation (eg. a new product)
An idea for a new product, which is tested with target
consumers before the actual product is developed
Identify the topic and match...
•
•
•
•
•
Internal
Focus group
Sales
Printed sources of
Questionnaire
•
•
•
•
•
secondary data
research
interviews
research
staff
Sources of info in market research:
•
•
•
•
•
Internal research
Focus group interviews
Sales staff
Printed sources of secondary data
Questionnaire research
Source of information involving...
• contacting individuals by phone, mail or
personally
• business newspapers, magazines and
trade journals, competitos’ annual reports,
official government statistics...
• invited members of the target market
• data available in the company’s accounts
and sales departments (record of sales,
orders, inventory size)
Source of information involving...
• contacting individuals by phone, mail or
personally – questionnaire research
• business newspapers, magazines and trade
journals, competitos’ annual reports, official
government statistics... – printed sources of
secondary data
• invited members of the target market – focus
group interviews
• data available in the company’s accounts and
sales departments (record of sales, orders,
inventory size) – internal research
UNJUMBLE AND ORDER:
rearteil
lersalhow
mercosnu
dropucer
UNJUMBLE AND ORDER:
retailer
wholesaler
consumer
producer
DISTRIBUTION CHANNEL
Producer
Wholesaler/distributor
Retailer
Consumer
DISTRIBUTION CHANNEL
Producer
Wholesaler/distributor
Online(Internet)
Agent
Retailer
Own
sales
force
Consumer
→ MK, p 66
or telephone or
mail order sales