badm powerpoint - • Chapter Thirteen • Dimensions of...

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Unformatted text preview: • Chapter Thirteen • Dimensions of Marketing Strategy • The Key to Successful Marketing Strategy • The Right Marketing Mix to Satisfy the Customer : – The Right Product – The Right Promotion – The Right Price – The Right Distribution • The Right Product Strategy • To satisfy the target market • To create long-term relationships with customers • Developing New Products • Classifying Products • Consumer Products • Industrial Products • Classifications of Consumer Products Convenience Products Products bought frequently without a lengthy search and bought for immediate consumption . Shopping Products Products purchased after buyer has compared competitive products . Specialty Products Products that the buyer searches for and makes a special effort to obtain . • Classifications of Industrial Products • Raw Materials • Major Equipment • Accessory Equipment • Component Parts • Processed Materials • Supplies • Industrial Services • Product Line and Product Mix • Product Line – Closely related products that are treated as a unit because of similar marketing strategy, production, or end-use considerations . • Product Mix – All of the products offered by an organization • Product Life Cycle • Identifying Products • Branding – The process of naming and identifying products. Can use a brand mark or trademark • Packaging – The external container that holds and describes the product . • Labeling – The presentation of important information on a package . • The 10 Most Valuable Brands in the World • Categories of Brands • Manufacturer Brands – Kellogg’s, Ford, Sony • Private Distributor Brands – Kenmore appliances (Sears ( • Generic Brands – Peanut Butter, Dog Food, Kitty Litter • Packaging • The external container that holds and describes the product inside . • Packaging Functions : – Protection – Economy – Convenience – Promotion – Labeling • The presentation of important information on a package : – Product content information may be required by law – Useful information – manufacturer’s toll-free number and address – Directions and suggestions for use – Product Quality • The degree to which a good, service, or idea meets the demands and requirements of customers . • In the global marketplace, product quality is a key means of differentiating products and positioning them above the competition in the consumer’s mind . • Pricing Strategy Four Common Pricing Objectives : 1 . Maximize Profits and Sales 2 . Boost Market Share 3 . Maintain the Status Quo 4 . Survival • Pricing Strategies • New Product Pricing Price skimming Penetration pricing • Psychological Pricing Odd/Even Prestige pricing • Price Discounting Quantity discounts Seasonal discounts Promotional discounts • Distribution Strategy • Marketing Channels – Retailers (Wal-Mart, Sears ( – Wholesalers (food brokers to restaurants ( – E-tailers (Amazon.comE-tailers (Amazon....
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badm powerpoint - • Chapter Thirteen • Dimensions of...

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