Week3 - MarketingStrategy DevelopmentProcess Week3...

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Marketing Strategy  Development Process Week 3 Professor Yoo Weon Sang School of Business
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Marketing Strategy Development Process Principles of Marketing Prof. Weon Sang YOO 2 Earning Bonus Points by Research Participation Up to two studies: 1 bonus point per study No specific knowledge or skills are required It will take no more than 1 hour April 7 (Wed): 12:00 – 6:00 April 8 (Thur): 10:30 - 1:30 and 2:30 - 6:30 May 26 (Wed): 12:00 – 6:00 May 27 (Thur): 10:30 – 1:30 and 2:30 – 6:30 June 2 (Wed): 12:00 – 6:00 June 3 (Thur): 10:30 – 1:30 and 2:30 – 6:30 Sign-up sheet will be posted on the bulletin board nest to room A424 Details will be posted at EKU (or E-mail at bebe40@korea.ac.kr)
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Marketing Strategy Development Process Principles of Marketing Prof. Weon Sang YOO 3 Group Formation: A poll 1. The instructor randomly forms groups for you No further request or complaint will be accepted 2. You find your group members and form groups for yourself
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Marketing Strategy Development Process Principles of Marketing Prof. Weon Sang YOO 4 I. Strategy
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Marketing Strategy Development Process Principles of Marketing Prof. Weon Sang YOO 5 Fundamentals for Strategy Profit, Profit, Profit, .. it’s what we (firms) are looking for ultimate goal Profit = (p c)*x F p: price c: marginal cost x: units sold F: fixed cost
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Marketing Strategy Development Process Principles of Marketing Prof. Weon Sang YOO 6 Fundamentals for Strategy (cont d) How could we increase the profit?
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Marketing Strategy Development Process Principles of Marketing Prof. Weon Sang YOO 7 Fundamentals for Strategy (cont d) Profit = ( p c )*x – F Want to charge high price w/o hesitation Want to achieve low cost Product Differentiation Strategy Cost Leadership Strategy
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Marketing Strategy Development Process Principles of Marketing Prof. Weon Sang YOO 8 Example: Product D. or Cost L ? è 0 ˜ ª* VW , È1 ˜ ¸ª* " " ….. 8/ À i ! ÷* 0 ˜ ¸ * È ª* i i ! ÷* 1 ˜ ¸ * È 0• . ”÷* ˜¸ª* (VW) v * . ”* i . * À ˜ ¸ * ð3 ! . * à 0 ¸ ª * È ƒ¿ 1 ª* …… .. Source: May 14, 2005 Maeil Business Newspaper http://inews.mk.co.kr/CMS/ptnews/xfn/xfn2/6580347_3529.php
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Marketing Strategy Development Process Principles of Marketing Prof. Weon Sang YOO 9 Characteristics of Core Competence A source of competitive advantage Applications in a wide variety of markets Difficult to imitate
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Marketing Strategy Development Process Principles of Marketing Prof. Weon Sang YOO 10 II. Strategic Planning
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Marketing Strategy Development Process Principles of Marketing Prof. Weon Sang YOO 11 Marketing Strategy Development Process 1. 2. Setting company objective & goals (general 3. Determine organizational strategy strategy 4. Business portfolio strategy level) 5. Selecting the target market
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This note was uploaded on 09/18/2010 for the course BUSS 205 taught by Professor Yooweonsang during the Fall '10 term at Korea University.

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Week3 - MarketingStrategy DevelopmentProcess Week3...

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