things i should have learned in marketing jeopardy edition
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Things I should have learned in Marketing: Jeopardy edition . serve as a guide for what the organization wants to accomplish. be “market-oriented” rather than “product-oriented”. be neither too narrow, nor too broad. fit with the market environment. be motivating.

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slide2
serve as a guide for what the organization wants to accomplish.
  • be “market-oriented” rather than “product-oriented”.
  • be neither too narrow, nor too broad.
  • fit with the market environment.
  • be motivating.
slide4
Should be specific
  • Measurable
  • Have a Time line
slide8
Figure 2-2:

Growth-Share Matrix

slide13
Figure 2-3:

Product / Market Expansion Grid

slide18
Creating the perception in the mind of the consumers that your product is the ideal product for them
slide28
Figure 2-6:

Managing the Marketing Effort

what is competitive advantage
What is competitiveadvantage?
  • Would have accepted core competency
slide31
The process of identifying key competitors; assessing their objectives, strategies, strengths and weaknesses, and reaction patterns; and selecting which competitors to attack or avoid.
what is a strategic group
What is a strategic group?
  • Good or bad competitors
competitive strategies
Competitive Strategies
  • Basic Winning Competitive Strategies: Porter
    • Overall cost leadership
      • Lowest production and distribution costs
    • Differentiation
      • Creating a highly differentiated product line and marketing program
    • Focus
      • Effort is focused on serving a few market segments
what is operational excellence
What is operational excellence?
  • Basic Competitive Strategies: Value Disciplines
    • Operational excellence
      • Superior value via price and convenience
    • Customer intimacy
      • Superior value by means of building strong relationships with buyers and satisfying needs
    • Product leadership
      • Superior value via product innovation
slide44
Figure 18-3:

Hypothetical Market Structure

what is a market leader strategy designed to protect market share
What is a market leader strategy designed to protect market share?
  • Expanding the total demand
    • Finding new users
    • Discovering and promoting new product uses
    • Encouraging greater product usage
  • Protecting market share
    • Manyconsiderations
    • Continuous innovation
  • Expanding market share
    • Profitability rises with market share
slide47
Option 1: challenge the market leader
    • High-risk but high-gain
    • Sustainable competitive advantage over the leader is key to success
  • Option 2: challenge firms of the same size, smaller size or challenge regional or local firms
  • Full frontal vs. indirect attacks
slide50
Follow the market leader
    • Focus is on improving profit instead of market share
    • Many advantages:
      • Learn from the market leader’s experience
      • Copy or improve on the leader’s offerings
      • Strong profitability
what is a market nicher
What is a market nicher?
  • Serving market nichesmeans targeting subsegments
  • Good strategy for small firms with limited resources
  • Offers high margins
  • Specialization is key
    • By market, customer, product, or marketing mix lines
game playing industry
Game playing industry
  • Nintendo
    • Wii hyperlink
  • Microsoft
    • Xbox 360
  • Sony
    • Play Station
threat of new entry
Threat of New Entry
  • the existence of barriers to entry
  • economies of product differences
  • brand equity
  • switching costs
  • capital requirements
  • access to distribution
  • absolute cost advantages
  • learning curve advantages
  • expected retaliation
  • government policies
competitive rivalry
Competitive Rivalry
  • number of competitors
  • rate of industry growth
  • intermittent industry overcapacity
  • exit barriers
  • diversity of competitors
  • informational complexity and asymmetry
  • brand equity
  • fixed cost allocation per value added
  • level of advertising expense
supplier power
Supplier Power
  • supplier switching costs relative to firm switching costs
  • degree of differentiation of inputs
  • presence of substitute inputs
  • supplier concentration to firm concentration ratio
  • threat of forward integration by suppliers relative to the threat of backward integration by firms
  • cost of inputs relative to selling price of the product
buyer power
Buyer Power
  • buyer concentration to firm concentration ratio
  • bargaining leverage
  • buyer volume
  • buyer switching costs relative to firm switching costs
  • buyer information availability
  • ability to backward integrate
  • availability of existing substitute products
  • buyer price sensitivity
  • price of total purchase
threat of substitution
Threat ofSubstitution
  • buyer propensity to substitute
  • relative price performance of substitutes
  • buyer switching costs
  • perceived level of product differentiation
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