Marketing Strategy 2025 PDF

MARKETING STRATEGY 2025 ======================= UNIT 1 STRATEGIC MARKETING ========================== 1. **MARKETING: NEEDS, WANTS AND DEMANDS** The marketing process: ---------------------- A simplification of a market system: ------------------------------------ Major environmental forces +...

MARKETING STRATEGY 2025 ======================= UNIT 1 STRATEGIC MARKETING ========================== 1. **MARKETING: NEEDS, WANTS AND DEMANDS** The marketing process: ---------------------- A simplification of a market system: ------------------------------------ Major environmental forces +-----------------------------------+-----------------------------------+ | | - (def) States of deprivation: | | | | | | - - - | +===================================+===================================+ | | - Form that needs take as they | | | are shaped by culture and | | | individual personality | +-----------------------------------+-----------------------------------+ | | - Wants backet by buying power | +-----------------------------------+-----------------------------------+ 2. **GOOD, SERVICES AND EXPERIENCES** 3. **VALUE, SATISFACTION AND LOYALTY** - Companies make value propositions as a reply to consumers' demands. - Consumers choose amongst market offerings based on: - Expectations on customer value - Expectations on satisfaction - Market offering ---objective and rational - Customer's expectations. ---−(purely) subjective and perceptual expectations can be influenced by companies. - Too high expectations mean higher sales on the short term. They are very difficult to maintain. - If market offering does not live up to expectations, this can lead to dissatisfaction, and lower sales on the long term. It can be interesting if product is sold every 10 years, e.g., mattress. - Too low expectations mean lower sales on the short term. You don't deceive anyone, but you may not make it to the long run. - Lower sales on short term may prevent the success on the long term. How is value created: ------------------------------------------- 4. **EXCHANGES, TRANSACTION AND RELATIONS** Exchanges --------- - At least two parties must participate. - Each must have something of value to offer the other. - Each party must also want to deal with the other party. - Each party is free to accept or reject the other's offer. - Lucrative (value product more than money. At the beginning, all exchanges were lucrative, but in the 70s, they extended concept to non− lucrative  dating someone is an exchange) − non lucrative - Restricted (2 agents: seller and buyer) Re−election CITIZENS Transactions and relations -------------------------- - Transactional exchange: happens only once, separated from past and future. Def. one in which there are no social elements, no further communication (if you're talking about a bottle of water, you only talk about quantity, composition, etc., nothing apart. No expectations for the future: the brand is irrelevant, you haven't tasted the brand before, **you don't commit** to anything in the future. Pure: only matters what you get and pay today. - One time exchange with no social elements: - No further communication. - Not expectations for the future. Only relevant thing is what I am getting for my contribution to the exchange. - Money as a convention? You do it because you trust the money will allow you to buy something in the future. Money is a convention, actually. - Relational exchange: the communication goes beyond the product's basic characteristics. E.g., you go into a store where you have been buying for years, and a salesperson knows you very well: he knows what he is going to show you based on your previous purchases, and they know that you will come back. Maybe the salesperson adds a little belt free of charge, because you are a good customer, and he wants to show appreciation. Maybe you have loyalty, with every purchase you get some points which may led to a discount, or something free, etc. maybe he knows your family and he asks you about them (how is your mother?  further communication). - - - - - - - Customer-engagement marketing: ------------------------------ 5. **MARKETING PLAN** the Strategic Plan (it is at corporate level) --------------------------------------------- and market level the Marketing Process --------------------- b. Develop: marketing plan: offer accessories at check−out. Cross−selling: when you go to the supermarket and next to the chips there is a soda; they put products which go well together, which are complements. c. Implementation: which accessories? We put socks at 9€ at the counter, and the cashier will offer them to clients. Place: displays. Promotion: "why don't you add a pair of socks to your order? They are great and at such a good price...". d. What does a Marketing Plan look like? -------------------------------------  BONUS TRACK: LATEST MARKETING TRENDS ==================================== latest upon latest: ------------------- 6. **CONCLUSION** **UNIT 2 MARKETING ENVIROMENT** 1. **ENVIROMENT** 2. **MICROENVIROMENT** - Top management sets the company's mission, objectives, broad strategies and policies - Finance finds and allocates funds to implement the marketing plan - R&D designs safe and attractive products - Purchasing gets supplies and materials - Operations produces the desired quality of products - Accounting provides measures of costs and revenues - Provide resources needed to produce goods and services. - Important to watch out for supply availability, shortages or delays. - Monitoring price trends of key inputs. - Resellers: wholesalers and retailers - Physical distribution firms: warehousing and transportation - Marketing services agencies: market research, advertising, promotion... - Financial intermediaries: banks, credit companies, insurance - Consumer markets - Business markets - Reseller markets - Institutional / Government markets - International markets - Analysis of competitors is one of the keys to understand the success of a company - Positionings against competitors' offerings. - Financial publics: banks, investment houses, stockholders - Media publics: newspapers, magazines, radio and tv stations - Government publics: lawyers and officials - Citizen action publics: consumer organizations, environmental groups... - Local publics: neighborhood residents, community organizations - General publics: public image -- Internal publics: workers, managers, volunteers, board of directors 3. **MACROENVIROMENT** - Population growth trends - Changing age structure: Number of births, Life expectancy and Life quality - Changes on the family composition: From the ideal family (2P2C) to new situations - Income: - Income distribution: - Growing shortages of raw materials - Increased cost of energy - Increased pollution and climate change - Government intervention in natural resource management - Fast pace of technology change - Increased regulation - Persistence of cultural values - Shifts in secondary cultural values 4. **CONSCLUSION** - Trying to influence legislation - Trying to get press coverage - Keeping competitors in line - Partnering to better control distribution channels **UNIT 3 CONSUMER MARKETS** What is a consumer market? All of the personal consumption of final consumers What is consumer purchase behavior? The buying behavior of final consumers, individuals and households, who buy goods and services for personal consumption 1. **Characteristics affecting consumer behavior** - Initiator - Influencer - Decider - Buyer - User 2. **The buyer decision process** 1. Need recognition: Buyer senses a difference between an actual state and some desired 2. Information search: Marketers want to understand where do customers get their information, and how they trust it depending on the source. 3. Evaluation of alternatives: How do consumer process information to arrive at brand choices. - Expectancy value model of consumer choice (composite index of attributes x - Conjunctive models: my choice must have this attribute - Disjunctive model: my choice should rank high in this attribute 4. Purchase decision: After evaluation, the preferred brand is most likely to be purchased. But: It can also be postponed due to the decision can be influenced by: 5. Post purchase behavior: Comparison between expectations and perceived performance. 3. **Types of buying decision behavior** **UNIT 4 CONSUMER BEHAVIOR. INDUSTRIAL MARKETS** 1. **Characteristics of business markets** - *Similarities to consumers markets:* - *Differences to Consumer Markets* **Buying process:** -- Buyer and seller are much more dependent on each other -- B2C keeps a distance -- B2B distance is arm's length, but still may require close working together: Customizing Helping customer to solve their needs Providing ad-hoc after sale support -- B2B is the perfect ambient to let relationship marketing building. 2. **The business buying process** 3. **Types of buying situation and participants in the business buying process** 1. **Market segmentation** 2. **Market targeting** - Segment size and growth - Segment structural attractiveness - Company objectives and resources Why don't we view every buyer as a separate target?. The trade-off: - Economies of scale - Value creation Undifferentiated marketing aka Mass Marketing. -- Centering on what is common amongst consumers -- Targeting the whole market with one offer -- Problem: it is difficult to compete with more focused firms Differentiated Marketing aka Segmented Marketing. -- Centering on different needs and wants of several segments -- Mean several Marketing Plans, Marketing Research, Advertising programs and brand building Concentrated Marketing aka Niche Marketing (when segment is small). -- Centering on needs and wants of one segment -- Useful when company resources are limited. -- Internet has opened a door for Niche Marketing companies targeting longtailers Micromarketing: -- Tailoring offers to meet the needs of specific individuals and locations. -- Local marketing: Eroski Hypermarkets and local food products. -- Individual marketing: aka One-To-One Marketing How to choose a targeting strategy: -- Company resources: if low... concentrated makes sense -- Product variability: uniform products call for undifferentiation -- Product's life-cycle: Undifferentiation on introduction Differentiation and micromarketing on maturity -- Market variability: If consumers are alike: undifferentiation -- Competitor's strategy: If competition is differentiated, undifferentiation can be suicidal 3. **Differentiation and positioning** 1. Identify the sources of differentiation 2. Choose the right competitive advantages 3. Select an overall positing strategy - Product - Services - Channels - People - Image Choose the right competitive advantages: -- How many: The Unique Selling Proposition (Rosser Reves) Which ones: Those that are: Important Distinctive Superior Communicable Not easy to copy Affordable Profitable Developing a positioning statement: To (target segment and need) our (brand) is (concept) that (point of difference). **UNIT 6 MARKET AND DEMAND FORECASTING** 1. **Demand Dimensions** 2. **Measuring Demand** - Market Demand: refers to the total quantity of a product or service that consumers in a market are willing to buy at a given price over a specific period. - Company Demand: refers to the specific demand for a company\'s products or services. 3. Demand Forecasting Methods to estimate future demand: -- Survey of buyers' intentions -- Composite of sales force opinions -- Expert opinions -- Past sales analysis -- Market-Test análisis Composite of sales force opinions -- Ask your sales representatives to estimate their future sales -- Sales representatives are in touch with the market -- They can be optimistic, or pessimistic -- They may be biased to suggest lower forecasts so that their sales targets are set lower. Expert opinions -- Dealers, distributors, suppliers, marketing consultants -- They also have strengths and weaknesses -- Specialized companies Past sales análisis -- Time series -- ARIMA models -- Econometrics Market-Test análisis: A direct market test can help forecasting in new environments or new products, where other methods fail.