m1l1 - Spring 2008 Module 1 Delighting Customers Lecture 1...

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David Robinson © D. Robinson, 2008 Spring 2008 Module 1 Delighting Customers Lecture 1: Marketing Strategy Planning
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What did you do over the winter break?
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If you were planning to market the Harbin Ice Festival to people in the US, what decisions would you have to make?
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Who would buy from us? Which customers are we going to try to delight? Technically: “Defining the market”: 1. People who have a need for our product 2. People with enough money to buy our product
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Marketing Decisions Who would buy from us ? What, specifically, would they want to buy ? How much would they be prepared to pay ? Do we sell directly to people or use partners (in this case, travel agents) ? How should we promote our offer ?
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Developing Marketing Strategy
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Marketing Strategy D e f i n e t h e M a r k e t S e g m e n t t h e M a r k e t C h o o s e A t t r a c t i v e S e g m e n t s D e s i g n a M a r k e t i n g m i x A p p e a l t o t h e T a r g e t s P o s i t i o n o u r O f f e r i n g
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Market Definition P e o p l e w h o n e e d o u r o f f e r i n g P e o p l e w h o h a v e t h e m o n e y t o b u y D e f i n e t h e M a r k e t S e g m e n t t h e M a r k e t C h o o s e A t t r a c t i v e S e g m e n t s D e s i g n a M a r k e t i n g m i x A p p e a l t o t h e T a r g e t s P o s i t i o n o u r O f f e r i n g
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Once we’ve defined the potential market, we cut it up Who would be most likely to travel to Harbin for the Ice Festival?
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