Marketing Notes Mba

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  • Topic: Marketing, Product differentiation, Target market
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Marketing Exam Notes

All The Frameworks
Porter’s Five Forces
Potential Entrants, Suppliers, Buyers, Substitutes, Rivalry Among Existing Firms

The Business Macroenvironment (PEST)
• Political / Legal
• Economic / ecological
• Social / Cultural
• Technology

Situation Analysis (SWOT): Strengths, Weaknesses, Opportunities, Threats

Situation Analysis (5Cs): competitors, climate (environment), collaborators, customers, company

Customer: DMU, DMP, Value Driver, Segment, Acquisition & retention, size growth potential

Marketing Strategy (STP): Segmentation, Targeting, Positioning

Marketing Mix (4Ps): Product, Price, Place, Promotion, Evaluation of Alternatives

Implementation & Monitoring: implement decision, monitor & control, adapt & renew

Profit = [Mkt. demand x mkt. Share x (Rev. per buyer – V Cost per buyer)] – Fixed Cost
Set profit to zero for break-even, but don’t forget cannibalization

Value Cycle
comparative advantage, value proposition, competitive advantage, perceived value, sales share and profit leadership, customer equity, superior market value, market orientation

Segmentation Scheme (AMISH): Per Market Segmentation PPT
o Accessible, measurable, identifiable, sustainable, homogenous

ATR (used in test marketing): Awareness, Trial, Repeat

Pricing Strategy:
i. know how buyers value your offering (EVC, competitor pricing), ii. assess price sensitivity (elasticity, conjoint), iii. look for variation (ex: across countries),

iv. anticipate competitive response,
v. identify appropriate pricing structure,
vi. check consistency with overall strategy,
vii. assess response and fine tune,
viii. assess whether it’s worth it to serve customer NTT DoCoMo
• Customer segmentation. Do a DMP, DMU.

• Marketing myopia
o Failure to adequately define, understand, anticipate and/or respond to the marketplace and marketplace dynamics o Narrowly focusing on one aspect of the organization, rather than taking a balanced approach o Causes: organizational inertia, internal focus is easier, each function has its own ideas, human judgment is involved • Market oriented firm vs. technology oriented firm

Marketing Myopia – Theodore Levitt
• Shadow of Obsolescence
o No such thing as a growth industry, only companies organized to take advantage of growth opportunities. Four danger signs: ▪ Belief that growth is assured by expanding and more affluent population ▪ Belief that there is no substitute

▪ Too much faith in mass production and in the advantages of rapidly declining unit costs as output rises ▪ Preoccupation with a product that lends itself to scientific experimentation, improvement and manufacturing cost reduction

• Production Pressures
o Concern yourself with marketing not sales (volume)

• Dangers of R & D
o Don’t pay too much attention to r & d at the expense of considering marketing o Don’t believe that a great product will sell itself

• Must understand DMU and DMP, can’t just have a great product • who is involved, has power; use of information; stages of purchasing • Customer Analysis Tools
• Customer Activity Cycle- customer’s view of benefits/costs of your product from pre-consumption to consumption to post-consumption • Economic Value to the Customer (EVC)- differentiation over reference value i. Ex: reduced startup and turnover, reduced sales cycle and implementation costs • Market Segmentation

• Determines target market and who competition is

Dolan Article: Low-tech Marketing Math
• Important!
• Can calculate break-even point (# of units)
• Can convert to share of market
• Profit Drivers = revenues – costs
• Sales volume x price; variable + fixed costs
• Numbers are more useful when...
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