Presentation Transcript

1. Introduction to marketing strategy

   Dr. Mark Scott Rosenbaum Northern Illinois University Lecture 4
2. Whole-CompanyStrategicManagementPlanning The Management Job in Marketing MarketingPlanning Control Marketing Plan(s) and Program Implement Marketing Plan(s) and Program
3. Nano Clothing Nanotechnology can improve fabrics, making them harder wearing and more resistant to dirt, water, oils or other chemicals. Many of these developments are based on what happens in nature. For example the lotus leaf is covered in nanoscale waxy “bumps” which causes water to bead and be shed easily (pictured left). Fruits such as peaches are covered in tiny hairs which achieve the same effect. By incorporating such features in manufactured materials they too can be made water and stain repellent
4. The marketingmix C What is a Marketing Strategy?
5. Selecting a Marketing-Oriented Strategy Is Target Marketing A mass-marketing strategy sees consumers as similar, with the same needs and wants. A target market strategy sees consumers as different , with varying needs and wants.
6. Product Place C Price Promotion Developing Marketing Mixes for Target Markets
7. Products: New Drugs Nanotherapeutics now manufacture asthma drugs and painkillers as nanoscale powders which are taken using an inhaler and are more quickly absorbed into the body than traditional methods. VivaGel is a an anti-HIV drug based on nanoscale particles called dendrimers. The drug in action is pictured left, the dendrimer (in blue) coats cells and prevents the HIV virus entering.
8. The Place Element of the Marketing Mix Examples of Channels of Distribution Product Product Product Product Wholesaler Wholesaler Wholesaler Retailer Retailer Retailer Consumer
9. The Promotion Element of the Marketing Mix Personal Selling Advertising Telling and Selling the Customer Facebook, Twitter, Blogs SalesPromotion Publicity
10. The Price Element of the Marketing Mix Pricing Objectives Price of Other Products In the Line Price Flexibility Competition and Substitutes Price Changes Over the Life Cycle PriceSetting Price Sensitivity Discounts and Credit Cost and Demand Geographic Pricing Terms Legal Environment
11. Product Place Promotion Price All Four Ps Contribute to the Whole Selectionof TargetMarket Understanding the Target Market Leads to Good Strategies!
12. Putting It All Together Total Company Effort to Satisfy Customers Total Company Effort to Satisfy Customers Offer Superior Customer Value Build Profitable Customer Relationships Increase Sales to Customers Attract Customers Retain Customers Satisfy Customers
13. Exercise NanoDynamics - a nanoscale engineering and materials company - has recently produced golf balls with nanoscale coating to reduce 'spring' and allow a truer contact with the club, producing shots that do not go further, but do travel straighter. In small groups of 3-4 students, consider that you are marketing team at NanoDyanmics You see three target customers. 1) Higher-income, older golfers who purchase equipment at country club golf stores. 2) Golfers who purchase products at sporting good stores. 3) Price sensitive golfers who shop for products at Amazon.com.
14. Marketing Mix Exercise Develop a marketing mix for each target customer. Product: Will you sell many items or a few items ? Place: Where will the products be sold? Will your firm have control over where its products are sold? Price: Will your customer be price sensitive? More price sensitive? Less price sensitive? How does the channel length/complexity influence the price? Please explain. Promotion: How will the target customer learn about the golf balls? How can the firm reach the target customer? Think about the various promotional techniques. We will discuss the answers in class.