Lecture "Designing business plan - Unit 4: Marketing plan" presentation of content: Overall marketing strategy, discussion, three levels of products, marketing Mix (Product, pricing, place, promotion).
Marketing Strategy
F Marketing strategy
§ ...firm’s approach to marketing its products
and services stated in broad term, which
firm the basis of all its marketing-related
activities.
NGO QUY NHAM
Discussion
What are key elements of a
marketing strategy?
NGO QUY NHAM
Overall Marketing Strategy
Marketing strategy components:
F Target consumers
F Positioning
§ Gives a product a clear, distinctive and desirable place
in the minds of target consumers compared with
competing products.
F Positioning involved selecting competitive
advantages:
§ Differentiation
§ Low Cost
NGO QUY NHAM
Customer Value Proposition
NGO QUY NHAM
Product strategy:
Three levels of products
• Physical good, service or
most often some of both
• Branding
• Packaging
• Service
• Product-ine
NGO QUY NHAM
Product strategy:
Three levels of products
Core
Installation Product
Delivery
Packaging Actual
Product
Credit Features
Core
benefit After-
or sale
Brand service service
name Styling
Quality
Payment
Augmented
Warranty product
NGO QUY NHAM
Product strategy:
Product Line Decision
F Product line-filling decisions
F Product line modernization decisions
NGO QUY NHAM
Pricing strategy
• Pricing objectives
• Pricing Policies
– Price Flexibility
– Levels over PLC
– Discounts and allowances
– Geographic terms
• Legal factors
• Markup chain in channels
• Costs
• Demand (price sensitivity)
– Competition/Substitutes
• Price of other products in line
NGO QUY NHAM
Pricing Strategy:
Pricing objectives
Target
Return
Profit
Oriented
Maximize
Profits
Dollar or Unit
Sales Growth
Pricing Sales
Objectives Oriented
Growth in
Market Share
Meeting
Status Quo Competition
Oriented
Nonprice
Competition
NGO QUY NHAM
Price Level Policies
Price Skimming
In price skimming, initial price is
set high--at top of the demand
Price curve
Sell at high
price before
reducing to Most sensible when:
next price level
Initial and repeat
Price • Demand is inelastic
Second • There is an “elite market” that is
Price less price sensitive
Final • Barriers to entry (patents, etc.)
Price
• Gradually working down the
demand curve with lower priced
marketing mixes over time.
Quantity
NGO QUY NHAM
Price Level Policies
Penetration Pricing
Penetration pricing means Price
entering the market with a
low initial price: Whole
market price
• Capture market share
quickly
• Take advantage of growth
• If competition is likely to
follow quickly, or if
• A low price will give
competitors less incentive
to enter
Quantity
NGO QUY NHAM
Value Pricing
NGO QUY NHAM
Discounts Reduce the Price Paid
Quantity Seasonal
Discount
Pricing
Sale Cash
Discounts are usually
defined as a percentage off
of a list price Trade
NGO QUY NHAM
Markups
50.00
Wholesaler
30.00
Producer
24.00
Markup = 20.00 = 40%
Markup = 6.00 = 20%
Markup = 2.40 = 10% Cost = 30.00 = 60%
Cost = 24.00 = 80%
Cost = 21.60 = 90%
Markup is usually stated as a percent of the selling price, not
of the cost
NGO QUY NHAM
Types of cost
Fixed Costs Variable Costs
Rent Raw materials
Depreciation Component parts
Manager’s salaries Hourly wages
Property taxes Packaging & freight
Insurance Sales commisions
NGO QUY NHAM
Break Even Analysis
Higher
Total Revenue and Cost
Profit Area Total Revenue
Curve
Total Cost Curve
Break-Even Point
Loss Area
0 More
Units of Production
NGO QUY NHAM
Thêm vào BST
Báo xấu
Download
Vui lòng tải xuống để xem tài liệu đầy đủ
