Lecture Designing business plan: Unit 4 - Ngô Quý Nhâm

Lecture "Designing business plan - Unit 4: Marketing plan" presentation of content: Overall marketing strategy, discussion, three levels of products, marketing Mix (Product, pricing, place, promotion).
Nội dung trích xuất từ tài liệu:
Lecture Designing business plan: Unit 4 - Ngô Quý Nhâm Unit 4: MARKETING PLAN Ngô Quý Nhâm Email: quynham@gmail.com Web: sites.google.com/site/ngoquynham NGO QUY NHAM Lecture outline F  Overall marketing strategy F  Marketing Mix §  Product §  Pricing §  Place §  Promotion NGO QUY NHAM Marketing Strategy F  Marketing strategy §  ...firm’s approach to marketing its products and services stated in broad term, which firm the basis of all its marketing-related activities. NGO QUY NHAM Discussion What are key elements of a marketing strategy? NGO QUY NHAM Overall Marketing Strategy Marketing strategy components: F  Target consumers F  Positioning §  Gives a product a clear, distinctive and desirable place in the minds of target consumers compared with competing products. F  Positioning involved selecting competitive advantages: §  Differentiation §  Low Cost NGO QUY NHAM Customer Value Proposition NGO QUY NHAM Product strategy: Three levels of products •  Physical good, service or most often some of both •  Branding •  Packaging •  Service •  Product-ine NGO QUY NHAM Product strategy: Three levels of products Core Installation Product Delivery Packaging Actual Product Credit Features Core benefit After- or sale Brand service service name Styling Quality Payment Augmented Warranty product NGO QUY NHAM Product strategy: Individual Product Decision F  Product attributes (product quality, feature, design) F  Branding F  Packaging decisions F  Product-support services decisions NGO QUY NHAM Product strategy: Product Line Decision F  Product line-length decisions NGO QUY NHAM Product strategy: Product Line Decision F  Product line-filling decisions F  Product line modernization decisions NGO QUY NHAM Pricing strategy •  Pricing objectives •  Pricing Policies –  Price Flexibility –  Levels over PLC –  Discounts and allowances –  Geographic terms •  Legal factors •  Markup chain in channels •  Costs •  Demand (price sensitivity) –  Competition/Substitutes •  Price of other products in line NGO QUY NHAM Pricing Strategy: Pricing objectives Target Return Profit Oriented Maximize Profits Dollar or Unit Sales Growth Pricing Sales Objectives Oriented Growth in Market Share Meeting Status Quo Competition Oriented Nonprice Competition NGO QUY NHAM Price Level Policies Price Skimming In price skimming, initial price is set high--at top of the demand Price curve Sell at high price before reducing to Most sensible when: next price level Initial and repeat Price •  Demand is inelastic Second •  There is an “elite market” that is Price less price sensitive Final •  Barriers to entry (patents, etc.) Price •  Gradually working down the ...