Marketing Lecture 1
May 9, 2013.
Marketing Strategy – how are you going to achieve the objectives
Strategic plan: Start out with your objectives, layout your strategies, layout action and implementation, layout projected results, along with sensitivity and contingency plans,
Production: how much I can mass produce?
Product: differentiate products
Marketing: how are you addressing the needs of the customer
Internal Marketing: need to sell your ideas within your company. Integerated Marketing:
Famous brand in the 20th century: coke
Famous icon is 20th century: Mulboro man
Need to be very consistent with your message
Relationship marketing: Relationships should be mutually satisfied in long term – “give and take” Make decisions:
Cause related marketing: i.e. Run for the Heart: When Tim Horton’s say they are part of the cause” Place: Getting the product at the right place for the consumer to purchase item Promotion: “its advertising, sales promotions”
Price: Allowance, buying in bulk
Product: materialistic, tangible, can transport and store products Services: involves a co-creation of the service itself
What the Heck are A, B, C?
Allowance: buying at critical time periods
Discounts: on products
New four P’s:
Process: want to have creativity,
Programs: include old 4 P’s
Value: what is the customer’s needs?
Supply chain: leading from the Warehouse stage all the way to the end product
Holistic marketing: exploring, integerating product
First Step: who is your target market, what are there needs?
Industry: porters 5 forces
Strengths and weeknesses: internal to the firm
Threats and opportunities: External to the firm
Case analysis: raising awareness by how much (i.e. 5% or a nominal amount) Should be difficult but achievable, and consistent
Executive summary does not count as 5 pager:
Marketing plan performance:
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