mktg1001 wk6 - Marketing Principles This week Chapter 4 g...

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MKTG1001: Semester 1 Marketing Principles This week… Marketing Information System Marketing Research Video CB + MR Quick Overview of Exam Chapter 4
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MKTG1001: Semester 1 Operating in a dynamic environment: Its position within the industry and the influences of macro change Where are we? The firm (Strengths: resources, brands, products, finance, culture) Develop an appropriate strategy (Considering the 3C’s and the environment) Using its knowledge of consumers ( From consumer behaviour and market research/information ) Select a target market/s and set positioning (And then proceeds to implementation 4Ps/7Ps)
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MKTG1001: Semester 1 A Mini Case Study A new ‘direct’ channel for car insurance
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MKTG1001: Semester 1 Large market survey, via a questionnaire
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MKTG1001: Semester 1 Car insurance firm Easy to get, hard to keep, low margins Hard to get, easy to keep, good margins Too loyal, won’t switch, captured T/M Resistance to switch, prefer large firms
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MKTG1001: Semester 1 Different Marketing Mix Shoppers = Best price/deal Who cares = Easy/convenience Basic product Low Price Standard Process Premium product High price Assisted Process
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MKTG1001: Semester 1
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MKTG1001: Semester 1 Figure 4.1 Reorganized Internal records Marketing research Marketing intelligence Information analysis
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MKTG1001: Semester 1 Internal Records Ongoing sales results Accounting reports Feedback from sales people Customer database Marketing campaigns Customer complaints Direct marketing results Reseller information Loyalty programs
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MKTG1001: Semester 1 Goals of Loyalty Programs Collect lots of customer data
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MKTG1001: Semester 1 Marketing Intelligence Competitor promotions, advertising Industry reports, trade shows Retailers, distributors Competitor products Media releases, articles Annual reports Competitor pricing Consultants Job interviews
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MKTG1001: Semester 1 Information Analysis Internal records Marketing intelligence Marketing research Information analysis Sales when we advertise Sales when competitors bring out new products Sales per type of customer Profitability when we discount
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MKTG1001: Semester 1 Through information analysis can work out the following
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MKTG1001: Semester 1 Development of market models
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MKTG1001: Semester 1 What does a bank know about you? Your age? Your address? Your social class? Your accounts and balances? Frequency and type of purchases? Your lifestyle? Your responsiveness to offers/campaigns?
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MKTG1001: Semester 1 When is MR conducted? How long will it take? Can we wait?
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