AEM1200_0926ToPost

AEM1200_0926ToPost - AEM1200, Introduction to Business...

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Unformatted text preview: AEM1200, Introduction to Business Management. AEM1200, Friday 9/26 Marketing (III) The four Ps: Place Logistics The four Ps: Promotion Customer Relationship Management The Supply Chain The Utilities Created by Intermediaries Utilities Form utility Taking raw materials and changing their form so that they Taking become useful products become Making products available when they are needed Making products available where they are needed Doing whatever is necessary to transfer ownership from one Doing party to another, including providing credit party Opening two-way flows of information between marketing Opening participants participants The provision of fast, friendly service during and after the sale, The including teaching customers how to best use products over time including Time utility Place utility Possession utility Information utility Service utility Wholesalers Wholesalers Retailers Retailers Logistics Logistics • • • Physical Distribution Information Distribution Inbound logistics • Bringing raw materials, packaging, other goods and services and information Bringing from suppliers to producers from • • • Materials handling • Movement of goods within a warehouse or factory Outbound logistics • Flow of finished products and information to business buyers and consumers Reverse logistics • Bringing goods back to the manufacture because of defects or for recycling Transportation Modes Transportation Promotional Mix and Strategies Promotional Advertising Personal selling Sales promotions Public relations Push strategies Personal selling Sales incentives Trade promotions Pull strategies Advertising Consumer promotions Loyalty programs Advantages and Disadvantages of Various Advertising Media Various Sales Promotions Strategies Sales B2B vs B2C Markets B2B B2B Sales Promotion B2B Trade shows Portfolios for salespeople Deals (price reduction) Catalogs Conventions Steps in Personal Selling Steps Prospect and qualify Preapproach Approach Make presentation Answer objections Close the sale Follow up Customer Relationship Management Customer The customer life cycle Acquire, through differentiation, innovation and convenience; Enhance, through bundling, cost reduction and customer Enhance, service; service; Retain, through adaptability, communication and new Retain, products. products. Direct marketing Cross-sell and up-sell Fulfillment Customer support Proactive service, retention and loyalty programs Sales force automation. Solutions Takeaways Takeaways The supply chain is an integral part of the value The added of a product. added Logistics is a significant source of competitive Logistics advantage for an organization (ie. Wal-Mart). advantage Never confuse advertising or public relations Never with promotion. Implement the integrated with Implement marketing approach across the organization. marketing The most common source of failure among new The businesses is insufficient promotion and, more generally, marketing efforts. Do not make that mistake. mistake. ...
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This note was uploaded on 11/12/2009 for the course AEM 1200 at Cornell.

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