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Marketing - Reaching the Customer.pdf

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University of Waterloo
COMM 101
Laura Allan

Marketing - Reaching the Customer Sunday, February 3, 2013 7:35 PM Key Chapter Concepts - Creating Marketing Strategies • Classifying consumer products vs classifying business products • Stages of the life cycle ○ Indicators of stage ○ Industry/product ○ Altering the speed of cycle  Planned obsolescence - meant to make you buy more  Clothes - fashion cycle - new style -> buy more (speed you through one to get another one) ○ Awake: What are they going to do  Flavours  Multi Packs  Inclusions  Strengths  Portion  Size • Pricing ○ Objectives ○ How markups are determined ○ Pricing strategies • Distribution/Place ○ Channels and marketing intermediaries  Different alternative ways to get to consumers  What membersof intermediaries are you going to use to bridge the gap btw you and the consumer ○ Alternative channel arrangements and strategic channel alliances  Understand what those channels will actually do for you ○ Functions of distribution channels ○ Intensity of distribution – related to product classification • Promotion ○ Objectives ○ Promotionalmix and integrated communications ○ Factors affecting the mix  Push vs pull • Trends Product Classification - Understanding Buying Decisions • ConvenienceGood/Service ○ Staples – branding, max exposure, shelf position  Bread, butter  Packaging - brand has to be stuck in their mind ○ Impulse goods – max exposure, shelf position, P of P (point of purchase of position)  Magazines at checkout ○ Emergencygoods – near P of P, readily accessible • Shopping Good/Service ○ Homogeneous – exposure for price comparison  Only compare prices Heterogeneous – exposure near similar products ○ Heterogeneous – exposure near similar products  Compare prices and quality • Specialty Good/Service – selective dist’n for exclusivity ○ Wedding dress to make it special you can't have it available at all places • Unsought Good/Service– aggressive promo, personal selling - different markets classify products differently - important to see your product as your customer does - Awake: Impulse, emergency,staple Keys to Success - #1 Key ○ Provide a unique benefit - #2 Key ○ Convincethe customerthat the product provides that unique benefit – through your product, pricing, promotion,and distribution/placedecisions…  Integrated/consistentsystem of activities ○ All parts of organization must have clear idea of unique benefit  Core Benefit Proposition(CBP) □ Clear, concise statementof product’s unique benefit or value proposition □ Awake: Provide energy boost that tastes good  Example □ High end computer, promoted as elite product, sold only in specialty store => can't have discount all the time ‘Total Product Concept’  physical features necessary to support CBP  total package of benefits/value package as seen from the eyes of the consumer ○ Brand ○ Package ○ Service ○ Warranty ○ Delivery ○ Credit ○ Atmosphere ○ Image, Reputation ○ Accessibility ○ Price What is a “brand”?- “… a collection of perceptions in the mind of the consumer”  built not only through effective communicationsor appealing logos – it is built through the total experience that the product offers    Brand Name ○ communicateCBP ○ movecustomer through stages of recognition  Non-recognition  Brand recognition  Brand recall/awareness  Brand preference  Brand loyalty  Do loyalty programs create loyalty? ○ Net promoter score Brand Insistence  Brand Insistence ○ Brad VanAuken  Brand Insistence Building Blocks - Consideration - has to be relevant and aware of it - Preference- high value and different - Purchase - accessibility - Loyalty - emotions  Price ○ Objectives- diffe
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