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Introduction to Piercy. MARKETING IS WINNING.

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marketing is winning
MARKETING IS WINNING
  • In peace there's nothing so becomes a manAs modest stillness and humility:But when the blast of war blows in our ears,Then imitate the action of the tiger;Stiffen the sinews, summon up the blood,Disguise fair nature with hard-favour'd rage;Then lend the eye a terrible aspect;Let pry through the portage of the headLike the brass cannon; let the brow o'erwhelm itAs fearfully as doth a galled rockO'erhang and jutty his confounded base,Swill'd with the wild and wasteful ocean.Now set the teeth and stretch the nostril wide,Hold hard the breath and bend up every spiritTo his full height. On, on, you noblest English.
agenda
Agenda
  • The process of going to market
  • Customer value
  • What managers need to know
  • Challenges for the 21st century manager
  • The strategic pathway
the strategic pathway
The strategic pathway

Strategic thinking and

thinking strategically

Market

sensing

and

learning

strategy

Strategic

market

choices

and

targets

Customer

value

strategy

and

positioning

Strategic

relationships

and

networks

Strategic

transformation

and strategy

implementation

ten steps of the strategic marketing planning process mcdonald 2007
Ten steps of the strategic marketing planning process (McDonald 2007)

1 Mission

Phase One

Goal Setting

2 Corporate Objectives

3 Marketing Audit

4 Market overview

Phase Two

Situation Review

5 SWOT analysis

6 Assumptions

7 Marketing objectives and strategies

Phase Three

Strategy Formulation

8 Estimate expected results and identify

alternative plans and mixes

9 Budget

Phase Four

Resource allocation

and Monitoring

Measurement

and review

10 First year detailed

implementation programme

the strategic pathway1
The strategic pathway

Strategic thinking and

thinking strategically

Market

sensing

and

learning

strategy

Strategic

market

choices

and

targets

Customer

value

strategy

and

positioning

Strategic

relationships

and

networks

Strategic

transformation

and strategy

implementation

the process of going to market
The process of going to market

Creativity

Innovation

Reinvention

Processes that define value

e.g., market knowledge and

learning, CRM, research, intelligence

Customer

value

Processes that create value

e.g., new product development, innovation,

brand development, strategic relationships

Processes that deliver value

e.g., channels, supply chain,

customer service

Resources

Capabilities

Strategic relationships

importance of customer value
Importance of Customer value
  • Consumer value plays a crucial role at the heart of all marketing activity (Holbrook, 1999 p. 1)

Source: Holbrook, M. B., 1999 Consumer Value

A framework for analysis and research. Abingdon: Routledge

customer perceived value definition
Customer perceived value definition

… perceived value is the consumer's overall assessment of the utility of a product based on perceptions of what is received and what is given. Though what is received varies across consumers (i.e. some may want volume, others high quality, still others convenience) and what is given varies (i.e. some are concerned only with money expended, others with time and effort), value represents a trade-off of the salient give and get components.

Source: Zeithaml, V. A., 1998 Consumer Perceptions of Price, Quality, and Value:

A Means-End Model and Synthesis of Evidence Journal of Marketing 52 (July): 2-22

choose a product or service you use and list your perceived benefits and sacrifices
Choose a product or service you use and list your perceived benefits and sacrifices
  • Benefits
    • Convenience
    • Quality
    • Prestige/status
    • Price
  • Sacrifice
    • Money
    • Search costs
    • Psychic costs
customer perceived value
Customer perceived value

Perceived Benefits

Customer –perceived value = ______________

Perceived Sacrifice

Benefits = attributes of core product/service and supporting services, perceived quality and price

Sacrifice = customer costs involved in purchasing, such as time, travel, repairing faulty work, etc. – NOT just price

Source:Monroe, K. B., 1991 Pricing – Making Profitable Decisions, McGraw-Hill, New York, NY. Quoted in Ravald, A.

and Gronroos, C., The value concept and relationship marketing European Journal of Marketing Vol 30 No 2 1996 p 19 - 30

value
Value

Customer value is a customer’s perceived preference for and evaluation of those product attributes, attribute performances, and consequences arising from use that facilitate (or block) achieving the customer’s goals and purposes in use situations.

Source: Woodruff, R. B., 1997 Customer Value: The Next Source for Competitive Advantage

Journal of the Academy of Marketing Science Vol 25 No. 2, pages 139 - 153

what managers need to know
The process of going to market, not “marketing” in the traditional sense:

understanding customers and superior value

building marketing strategy to deliver a robust value proposition to customers

achieving implementation by driving the things that matter through the corporate environment

What managers need to know
21 st century challenges
21st Century challenges
  • New business models
  • Innovation
  • Business agility
  • Crisis survival
  • Siege
  • Global recession
  • Aggressive investment
  • Globalization
  • Virtuality
  • Paradox
  • Corporate Social Responsibility
  • Strategy
21 st century distractions
21st Century distractions
  • New business models
  • Innovation
  • Business agility
  • Crisis survival
  • Siege
  • Global recession
  • Aggressive investment
  • Globalization
  • Virtuality
  • Paradox
  • Corporate Social Responsibility
  • Strategy
21 st century tools
21st Century tools
  • New business models
  • Innovation
  • Business agility
  • Crisis survival
  • Siege
  • Global recession
  • Aggressive investment
  • Globalization
  • Virtuality
  • Paradox
  • Corporate Social Responsibility
  • Strategy
the strategic pathway2
The strategic pathway

Strategic thinking and

thinking strategically

Market

sensing

and

learning

strategy

Strategic

market

choices

and

targets

Customer

value

strategy

and

positioning

Strategic

relationships

and

networks

Strategic

transformation

and strategy

implementation

marketing management

MARKETING MANAGEMENT

a bettermousetrap

marketing management1

MARKETING MANAGEMENT

If I were going toDublin, I wouldn’tstartfromhere

Butwe ARE here

And we are going to….

an anecdote
AN ANECDOTE
  • Great market for boots
  • They don’t wear boots