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Marketing Evaluation

Marketing Evaluation. MKT 113 Introduction to Marketing Module 8 Value Creation. Current Events Analysis Topics. Story via http://www.forbes.com/sites/antonysavvas/2013/11/11/kpmg-launches-big-data-analytics-investment-arm-to-gain-rapid-market-entry/.

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Marketing Evaluation

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  1. Marketing Evaluation MKT 113 Introduction to Marketing Module 8 Value Creation

  2. Current Events Analysis Topics Story via http://www.forbes.com/sites/antonysavvas/2013/11/11/kpmg-launches-big-data-analytics-investment-arm-to-gain-rapid-market-entry/

  3. Branding and Packaging DecisionsReadings and Learning Outcomes • Chapter 14 Customer Satisfaction, Loyalty, and Empowerment • Measuring Marketing: 110+ Key Metrics Every Marketer Needs http://site.ebrary.com.ezproxy.snhu.edu/lib/snhu/docDetail.action?docID=10629615 • Identify marketing metrics used to measure integrated marketing communications (IMC) success • Discuss the principles and techniques used to track and measure the success of a marketing plan • Understand the economic and accounting principles related to profitability and profit/loss analysis • Understand the role of marketing metrics in the ongoing evaluation of business and marketing planning

  4. Products | Goods vs. Services TANGIBLE= Packaging | INTANGIBLE = Comfort

  5. Core Product | Augmented Product Service Dominant Approach to Marketing

  6. Product Level Terminology

  7. Consumer Offerings Four General Categories

  8. Branding • BRAND—is a name, picture, design, or symbol, or combination of those items, used by a seller to identify its offerings and to differentiate them from competitors’ offerings. • BRANDING—is the set of activities designed to create a brand and position it in the minds of consumers. • BRAND NAME—is the spoken part of a brand’s identity. • BRAND MARK—is the symbol associated with a brand. • BRAND EXTENSION – involves utilizing an existing brand name or brand mark for a new product category. • CANNIBALIZATION—occurs when a firm’s new offering eats into the sales of one of its older offerings.

  9. New Offering Development Process • Idea Generation (Research and Development) • Idea Screening (Good Fit?) • Feature Specification • Development(Prototype) • Testing (Test Market | Communication Plan) • Launch(Commercialization) • Evaluation(Monitor Progress)

  10. Product Life Cycle

  11. Modifying Products to Extend Maturity

  12. Individual New Offering Proposal • What is your company? • What is the company’s Mission Statement? • What are their major products and brands? • Evaluate their SWOT Analysis. • Who are their top competition? • What is the best opportunity for your company?

  13. Individual New Offering Proposal • New Offering Description/Justification • New Offering Features (Characteristics) • New Offering Benefits (Target Audience and How do they Benefit?) • Price (What price strategy will be used?)

  14. Have a Great SNHU Day. Professor Lynch | #MKT113Topics

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