Chapter 1- Marketing Value to Consumers

Chapter 1- Marketing Value to Consumers - Chapter 1...

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Chapter 1  Marketing Value to Consumers 16/01/2008 13:01:00 Intro to marketing Strategy Starbucks: Big Boomer o A global giant – then and now: Began as a single café in Seattle in 1971 Today operates in 36 countries Company operated stores: 1.434 Franchises, joint ventures: 2,170 Annual revenue in 2005 = $6.36 billion What are some of the factors that contributed? o The 4 P’s (Product, Price, Place, Promotion) ? Product      – Does Starbucks sell just coffee or is it something  more? All things related to coffee Wifi connection for meetings Price     Creating a competition Slightly lowering price because of competition Place     Promotion     o Does Starbucks do market research before entering a new market? o What kind of image does Starbucks convey to the consumer?
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What is Marketing all about? Marketing is more than selling or advertising o Ex. Many different types of bikes (Different brand, different purposes) Must understand the wants and needs of a customer Analyze Needs o Understand what the consumer needs in a bicycle Predict Wants o Predict what the consumer wants, what type of bike, etc. Estimate Demand o Estimate which bikes have the higher demand Predict When o Do people want bikes during Christmas?  In the summer? Determine Where o Determine the different locations of where the bike shops should be Estimate Price o Estimate what people will pay for a bike Decide Promotion o Decide on different and necessary types of promotions Estimate Competition
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o Estimate the impact of competition and who the competition is Provide Service Production vs. Marketing Marketing o Makes sure right goods and services are produced o Letting people know that you want something and you are willing to do  anything to get it Production o Making goods o Performing services Creates customer satisfaction o The extent to which an organization fulfills a customers needs, desires,  and expectations. o People pay for results Marketing is important to you! Important to every consumer o See advertisements everywhere Important to your job Affects innovation and standard of living
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Marketing: Key Characteristics: o Profit and Nonprofit o More than persuasion o Begins with needs o Doesn’t go it alone o Involves exchanges o Builds relationships Who Performs Marketing Functions? Producers
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This note was uploaded on 04/22/2009 for the course MKT 320F taught by Professor Miller during the Spring '08 term at University of Texas at Austin.

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Chapter 1- Marketing Value to Consumers - Chapter 1...

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