Final Review - Marketing Manager Analysis Planning...

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Marketing Manager Analysis Planning Implementation Control Marketing Concept the purpose of the firm is to delight customers at a profit Value Proposition Customer delivered value = total customer value + total customer value Total customer value = product value + image value Total customer cost = monetary cost + time cost + energy cost Shanghai Maglev Train Information: Top Speed 270 mph 30 km in 8 minutes Round trip, costs just $10 No one is taking it to the airport 22-min cab ride from major hotels (stop from suburbs) Need to carry bags up escalator (because on higher level) Wait in line to buy a ticket Trains depart every 20 min ( wait time 10 min) Most tickets sold to tourists Hong Kong Airport Express Terminal right next to city center Airport on island, build subway Build new tunnel to Central Enter the train at passenger level Departs every 12 minutes Hong Kong Airport Express Value Proposition 270 mph is a “product feature” not a customer benefit We want it to be on time ASAP Image value —”self expressive” features of brand Guru marketing Dave Aaker Tradeoff: monetary, time, energy cost Total customer cost Ignore sunk costs —costs in the past which are “sunk” unless they are “recoverable.” If in the future, it’s “avoidable” and part of the decision How firms delight customers Listen to them carefully Anticipate their needs Emphasize a relationship rather than a transaction Anticipate Customer Needs Ford Pinto People wanted smaller cars Honda Civic More space in cabin Honda & Toyota sales↑ General Motors & Ford sales ↓ Starbucks Card Promotion of Starbucks gifts Design systems to handle cards, transaction history 10% increase in sales because of Starbucks card AAA Battery Jumpstart car or sell battery replacement
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Societal Marketing Concept Society Consumers Company Marketing Strategy Define the Market o People who need our offering o People who have the money to buy Segment the Market, Choose Attractive Segments o Choose segments to target o Choose those to avoid o Consider combining Design a Marketing Mix, Appeal to the Targets o Product Features Brand Warranty services o Price Objective Strategies Tactics o Place Logistics Wholesalers, retailers o Promotions Personal selling Sales promotion Public relations Direct promotion Mass media Position our Offering o In the minds of customers o Against competitor’s offerings Market people who need our offering and people who have the money to buy Marketing Opportunities Identifying unmet needs Trend analysis Trends (PEST-DN acronym) Political and legal o US government focus on natural disasters instead of homeland security Economic o Auto market slowing o Refinancing houses o Gas prices high, so sell more hybrids and motorcycles o
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