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Residency 2 Academics
- 1. Managerial Marketing: SUS6060 Conducting Marketing Research and Forecasting Demand; Connecting with Customers,; Building Strong Brands And our goals for this residency are . . .
- 14. The aim of marketing: Meet and satisfy target customer’s needs and wants better than competitors (Kotler & Keller, 149).
- 17. Business markets: “ Organizations that acquire goods and services used in the production of other products or services that are sold, rented, or supplied to others.” For instance: agriculture, manufacturing, construction, transportation, banking, etc. (Kotler & Keller, 182).
- 20. “ Companies cannot connect with all customers in large, broad, or diverse markets. But they can divide such markets into groups of consumers or segments with distinct needs or wants.” (Kotler & Keller, 207).
- 24. “ At the heart of a successful brand is a great product or service, backed by careful planning, a great deal of long-term commitment, and creatively designed and executed marketing. A strong brand commands intense consumer loyalty.” (Kotler & Keller, 235).
- 30. “ No company can win if its products and services resemble every other product and offering.” (Kotler & Keller, 267).
- 35. Adapted from Kotler & Keller, 278-279) Intro Growth Maturity Decline Sales Low Rapidly rising Peak sales Declining sales Costs High unit costs Lowering unit costs Costs rise Costs rise Profits Negative Rising Highest Declining Customers Innovators Early adopters; early majority Late majority; laggards Laggards Competitors None Growing Most Decline
- 38. “ Building strong brands requires a keen understanding of competitors, and competition grown more intense every year.” (Kotler & Keller, 293).
Notas do Editor
- This is a monster Power Point covering eight chapters of the Kotler & Keller text. Take a deep breath….
- Pgs 90-91: Small companies often conduct research by checking out rivals, engaging students/professors to carry out projects, using the Internet by examining competitor’s Web sites, monitoring social media, and accessing published data such as Technorati, Pew Research, Edelman Trust Barometer.
- Just as you whittle down research questions in academic studies, you have to be careful not to settle on marketing questions that are too broad or too narrow.
- See pg. 97 for questionnaire samples and 96-101 for research instruments.
- The most expensive and prone to error stage. Common pitfalls: editing and coding.
- A key part of marketing is how to configure the research so it’s useful in the future; for instance, an accessible format makes it easier to compare and contrast future findings, simpler to present to a board, etc.
- Also see pages. 106-107 for marketing-mix modeling (data from a variety of sources) and dashboards assembled set of relevant internal and external measures).
- Also see pg. 111 - 117 for background vocabulary I’m assuming you received in other MBA coursework, such as: Market demand, share, penetration index, share-penetration index, etc.)
- Yeah, so these are the topics important enough for you to be able to draw upon…include these in your team talks.
- Make sure to check out page 177, Top 10 most common mistakes managers make in their decisions.
- This chapter deals with situations in organizational buying, including who participates in the business-to-business buying process and customer building strategies. While such topics are an important part in marketing, I want to concentrate more on generally-useful strategies for this MBA in sustainability.
- While both the business market and consumer market need to understand their customers and what they value, the business market has entirely different factors to deal with. See page 184 for examples of how big sales are made to small businesses, including guidelines for selling to small businesses.
- This chapter deals with levels of market segmentation, including how to divide a market into segments and how to determine the most attractive.
- Also see pg. 225 for Conversion Model to measure strength of consumer’s psychological commitment to brands and openness to change and pgs. 226-232 for more about Market Targets.
- This chapter deals with branding work, issues of brand equity, the measurement/management of brand equity, and important decisions in developing a branding strategy.
- For a great feature about breakthrough marketing, see page 239 for Procter & Gamble success story about marketing leadership.
- Also see pgs. 245 – 256 for building, measuring, managing brand equity.
- Also see pages 257-259 for Branding Decisions , Extensions, Feedback. Key topics: Use of individual names (e.g. General Mills uses Bisquick, Gold Medal flour, Nature Valley granola bars, etc.) while Heinz and General Electric use corporate blanket family names and Sears uses Kenmore for appliances, Craftsman for tools, etc.
- This chapter deals with positioning in the market, differentiation of brands, which marketing strategies are appropriate at each stage of the product life cycle, and implications of market evolution for marketing strategies.
- Victoria’s Secret is a good example of how a company can successfully carve out a unique marketplace position; in this case, U.S. women embraced the chance to have a European-style lingerie shopping experience. Similarly, DiGiorno positioned its frozen pizza product as in the delivered pizza category.
- Also check pgs. 273-274 for how to establish category membership and straddle positioning.
- See page 275 for desirability and deliverability criteria for Points-of-Difference.
- Positioning and differentiation change as product, market, competitors change over the PRODUCT LIFE CYCLE. VERY important in marketing to remember four things: 1) Products have a limited life; 2) Sales pass through distinct changes, each posing different challenges, opportunities, and problems to the seller; 3) Profits rise and fall at different stages of the product life cycle; 4) Products require different strategies in each life cycle (marketing, financial, manufacturing, purchasing, human resources, etc.) See pg. 279 for graphs of patterns and style, fashion, and fad life cycles.
- From former UC Berkeley prof David Aaker, seven dynamics that result in new categories about forces that drive emergence of threats or opportunities. Other product modification and expanding market techniques: Expanding the number of brand users (convert nonusers, enter new market segments, attract competitor’s customers) and increase the usage rates among users (Have consumers use the product on more occasions, have consumers use more of the product on each occasion, have consumers use the product in new ways).
- From Kotler & Keller, pgs. 289-290.
- This chapter deals with how to identify primary competitors, including how to analyze their strategies, objectives, strengths, and weaknesses. It also discusses how market leaders can defend market share and expand total market, as well as how challengers attack leaders and or market followers or nichers compete effectively.
- See fig. 11.2 on pg. 296 about vertical integration.