Marketing Strategies PDF

 5 Marketing Environment Definition The of of the forces and actors outsi...

 5 Marketing Environment Definition The of of the forces and actors outside the marketing environment company consists marketing a and function that influence the management's ability to build and maintain successful lasting business relationships with the relevant target group Micro Environment The : nar rower environment of the company , which consists of the forces within the and company the company's partners Macro Environment : The wider environment of the such as the economy politics culture , company , , ,... The Micro Environment Stakeholders in the Micro Environment The Company Marketers of of need to consider the interests the other functional areas the company relevant These functional areas consist of: Top CClevell Management · · Finance Department · Research and development (R & D) · IT Purchasing Department · · Operations Human resources Accounting The Suppliers -Provide the that the resources so company can produce its products dates..... -sometimes of critical relevance ( product quality delivery , -Problems reduce and customer term with suppliers sales in the short term satisfaction in the long The Marketing Intermediaries -Marketing intermediaries are firms that help the company to market its products to final buyers They support the company with advertising , sales , physical distribution and financing The Competitors In order to be successful in the long term , a company must s e r ve the needs and wants of consumers better than does the competition needs at competitive advantage (brand technical features employees) ↳ least company one , , to achieve this a strategic competitive advantage must be used to clearly differentiate the offering from - , and minds the competition position it in the of consumers = competition even m o re important because of the internet e-commerce  The Customers ( most important ; give you value , money , loyalty back ( Customers (markets) are the most important players in the. A microenvironment serves more company one or of these markets : · Consumer markets Business Industry markets · Reseller markets · Government markets · International markets The Public = Any group that has an actual or potential interest in or influence on the actions of the company its ability achieve and to its objectives · Financial publics influence companies ability to deal with finance Media publics news newspaper radio station websites · , , , Government publics government institutions , agencies - what do they think about your company ? Citizen-action publics · · Local publics General publics · Internal publics employeess,...  The Macro Environment Demographic Developments Demography z is the study of human populations - size , density , location , age , gender , race, occupation and other statistics involves and Demographic environment > people people make up markets - Demographic trendsa include changing age and family structures , geographic population shifts , educational characteristics and population diversity Baby Boomers-born 1946 to 1964 · Generation X-born 1965 to 1980 · Millennials - born 1981 to 1996 · Generation Z-born 1997 to 2012 Generation Alpha-born after 2012 ·  Population Development in Germany Economic Environment -Shift in the global economic balance ( from North America and Europe to Asia (Chinall - Economic situation Income distribution and purchasing power - net household Purchasing behavior with different incomes - The Environment and Natural Resources > - While nature provides input for the company, it is also affected by enterpreneurial activity Natural Environment Trends of particular importance : Scarcity of certain natural resources Rising energy costs · Increased environmental pollution Environmental and policy interventions by state supranational institutions · Developing strategies that support environmental sustainability Technological Environment Rapid Al technological progress (e. g. Accordingly high capital requirements for R & D ( for technology-driven companies Tendency towards shorter technology and product life cycles and smaller innovations Increasing government regulation (CE-Logo Official bodies are tasked with examining products and technologies for safety and reliability and removing · unsafe products or technologies from the market Digital Marketing Hype Cycle (Gartner) Understand the stages of Gartner ↳ Google it  Political Environment > Refers to legal framework relevant authorities and political groups - , Bsp -Legislation relevant to the economy Protection each other of companies from · Protection of from unfair business consumers practices · in Folie Protection of the interests of society · Increasing importance of interest groups - ethical Increasing demands for and socially responsible behavior Cultural Environment > - Institutions and other forces that shape society's core values , perceptions preferences and , behavior High constancy of cultural values Nevertheless change in cultural values over a longer period of time le g establishment of fitness and well being.. ,. as important values) Interaction with the Marketing Environment -to anticipate new business opportunities and threats , the company must closely monitor the marketing environment should not -the environment be taken for granted - The company hasClimited) options to influence the environment Creactive vs. proactive view e.. g Hiring lobbyists Public PR appearances · and Complains to authorities regulatory bodies · Coordination with competitors , etc. LEARNING OBJECTIVES 1. Describe the environmental forces that affect the company’s ability to serve its customers 2. Learn about the details of micro and macro factors Prof. Dr. Mark Elsner // Prof. Dr. Dennis Albert // Marketing // Consumer Behaviour (II) 2  6 Strategic Planning and Segmentation Mission, Goals and Objectives Strategic Planning Strategic planning is the process of developing and maintaining a strategic fit between the organization's goals and capabilities and it's changing marketing opportunities Defining a Mission A what mission statement is a statement of the organization's purpose - it wants to accomplish in the larger environment Questions to be answered : · What is our business? · Who is the customer ? · What do consumers value ? · What should our business be ? = A mission statement is used by a company to explain , in simple and concise terms , its purposels) for being. short, either The statement is generally a single sentence or a short paragraph  Product vs Marketing-Orientation Wir bilden die Studierende durch eine praxisorientierte Ausbildung mit vielen Weiterbildungsmöglich WBS Wir bilden im Bereich Wirtschaft aus. Tesla Wir entwickeln und produzieren Elektrofahrzeuge NVIDIA Wir Goals and Objectives Goals : typically long term , overarching ideas concerning what you want for your business short-term measurable and Objectives usually : and specific lead to many objectives may goal = your Key Figures KPI's :. be specific in your goals and even more specific in your objectives , you should have a "Why' factor Designing the Business Portfolio SWOT Analysis Intern Extern  Segmentation and Targeting Marketing Strategy and the Marketing Mix Market Segmentation "Market segmentation requires dividing a market into smaller segments with distinct needs , characteristics or " behaviors that might require separate marketing strategies or mixes. The between compromise 1. Assumption of mass marketing : all consumers a re treated equally Each should. 2 consumer is different and receive a customized solution Marketing is developing and towards target group-oriented approach > a more - more  Customer-Driven Marketing Strategy Market Segmentation , Market Selection and Market Positioning Multivariate/Multi-Level Segmentation Bi-Multivariate segmentation Combination of two or more segmentation criteria le g lifestyle.. segmentation) Multi-Level segmentation sub-segments (micro-segmentation) (macro-segmentation) Formation of within larger segments , e g.. first segmentation based location n then based behavioral on geographical , on psychographic or criteria Segmentation Criteria for Consumer Markets -Geographic segmentation geographical segments : such as nations , regions , states , counties , cities or even neighborhoods variables -Demographic segmentation segments : based on such as age , life-cycle stage gender , , income, occupation , education n , religion ethnicity , and generation -Psychographic segmentation segments : based on social class , lifestyle or personality characteristics -Behavioral segmentation segments : based on consumer knowledge , attitudes , uses of a product or responses to a product  Segmentation of International Markets Geographical Criteria · Language · Cultural factors · Political and economic factors e economic a re a s ·. g. , Economic indicatorss e g income per capital, economic growth ·.. Political and legal system · Oftenly formation of cross-border segments · Segmentation Requirements Measurability · Accessibility of the segment · · Importance of the segment Differentiability of the segment · Feasibility and practicability · Buyer Personas Personas > Buyer a re research-based archetypal (modeled) representations of who buyers a re what - , accomplish s behaviour they buy they a re trying to what goals drive their , how they think , how and why they make buying decisions Elements of Buyer Personas 1. Personality The emotional personality structure(incl age and gender ·. and values beliefs · · Wishes and interests · Fears and barriers 2 Socioculture. Life stage life etc. ) · situation (family Socio-economics education profession and milieu , class and income · : , · Cultural differences 3. Category attitudes ( Category specific = specific interests, experiences and wishes in certain product categories) · - Targeting "A decides target market is a set of buyers who share common needs or characteristics that the company to " serve. based Evaluating market segments oni and Size growth · (e reach structural attractiveness g ease of ·.. Company objectives and · re s o u rc e s  Mass Marketing " Undifferentiated approach to all market segments size fits all" philosophy · one , same marketing mix for all buyers · Lower costs for market analysis and product management · But : Markets a re fragmented into smaller segments (heterogeneity of preferences) · many Mass between individual marketing ignores differences segments · · Often impossible to design a uniform product for all markets Niche Marketing · Adaptation of the product range and marketing mix for narrowly defined sub-segments le vehicles etc. Focus small , highly profitable markets g Luxury exclusive travel · on.. , , Opportunity for smaller companies with limited resources to compete efficiently in the market · But : High level of commitment required to meet customer requirements · Increased risk due to concentrated marketing · Significant risk of shrinking markets Cdue to demographic economic cultural other developments ( · or , , Micro Marketing ocal marketing · Adaptation of the offer and marketing efforts to the location · Individual customer service · May dilute brand if marketing messages are perceived as inconsistent Customized marketing "Customized marketing" " " one-to-one marketing · , the needs individual Tailoring the product and marketing to of each customer · program  Aspects of Social Responsibility Intelligent selection of market segments enables companies to operate efficiently and profitably · more · Consumers benefit from products tailored to their needs But : Unintentionally, other unwanted segments be targeted · can , · Criticism of marketing , g e.. when minors and the socially disadvantaged are targeted with certain products and strategies Differentiation and Positioning Objective : to align the strengths of the company with the specific characteristics of the market Required steps : · Identify consumers whose needs and wants you can ser ve with your ow n offer in a m o re differentiated way than the competition (segmentation and targeting Differentiation and positioning of these offers in the perception of consumers · " > - Answering the question : "Why should I buy this particular product ? Developing a Differentiation and Positioning Strategy Four-step procedure :. 1 Identification of possible competitive advantages. Selection 2 USP- of relevant competitive advantages unique selling proposition. 3 Development of a positioning strategy 4. to the market Communicating this strategy  1. Identification of Possible Competitive Advantages Differentiation through product · Features , options · Basic and additional benefits · Performance class , quality Design appearance style · , , · Innovation Differentiation through services Installation and commissioning · · Maintenance and repair Training and advice · Speed of service sales channels provision · , Differentiation through employees High level of professionalism and competencee specialist knowledge · · Good customer service and special focus on customer satisfaction Differentiation through brand image e brand values , sponsorship , tradition cult status etc. g ·.. , , · is supported by branding measures Positioning through origin · e. g. "Made in Germany" 2. Selection of Relevant Competitive Advantages umber and origin of competitive advantages · Unique Selling Proposition (USP) vs. Emotional Selling Proposition (ESP) several Positioning based arguments · on but : risk clear · of dispersion , no positioning Criteria defining a competitive advantage : - Important - Distinctive Superior - - Communicable Preemptive - -Affordable - Profitable 3. Development of a Positioning Strategy iPhone Luxusmarken Rolex Apple-Gene ea n Beispiele finden Starbucks Standardprodukte Aldi , Lidl Premium-Sitzplätze in der Lebensmittel- im Kino branche überteuertes Produktverkleinerung Preis Ryanair bei Restaurant kleine , gleichem Portionen schlechter , Service Differentiation and Positioning Strategy The brand positioning statement summarizes company or positioning using this form : To Starget segment and need) our (brand) is Concept that point of difference). Communicating and Delivering the Position than -Choosing the positioning is often easier implementing the position Establishing a position or changing one usually takes a long time - -Maintaining the position requires consistent performance possible adaptation , and communication STP Paradigma LEARNING OBJECTIVES 1. Understand the difference of mission, goals and objectives. 2. Learn about segmentation criteria 3. Define the basic targeting options 4. Understand differentiation and positioning Prof. Dr. Mark Elsner // Prof. Dr. Dennis Albert // Marketing // Strategic Planning & Segmentation (VIII) 36  7 Strategic Options Systematics of Marketing Strategies and Strategic Options 1. Market Selection Strategies Definition : Building on the market definition and the business segment strategy , the market selection strategies determine the product-market combinations in which a company wants to achieve the defined marketing goals , with which international regional or reach and with which degree of differentiation in market cultivation Market Field Strategy Which product market combinations should be used to achieve future growth targets ? -Market link and field strategies represent the between the corporate marketing strategy , as they already selection come into play in the of business areas and market coverage  Ansoff or Product-Market Matrix Rabatte , aggressive Werbekam Forschung und Entwicklung , der pagnen , Verkaufsförderung Erweiterung Produktpalette Geografische Expansion , Amazon diversifiziert von E-Commerce Cloud Erschließung n e u e r Zielgruppen zu Computing (höchstes Risikol Strategic Directions (Product-Market Matrix). Market Penetration Intensification of marketing efforts · Increase (intensification) of product use among existing customers Attracting customers who previously bought from the competition to own product · your Winning previous n on -u s e rs of the product · over 2. Market Development Opening up new markets for existing products national Opening additional sales markets through regional international expansion · up , or tailored specific target groups Gaining market segments,. e through product variants specially to · new. g. Product 3 Development Development of new products for existing markets · Creation of innovations in the sense of genuine market novelties development additional Program expansion through the of product variants ·  4. Diversification Development of new products for new markets · Horizontal diversification Expansion of : the existing product range to include products that are still materially related to it, e. g. using the same materials (BSp.. Coca Cola - Einführung von Fanta , Spritel ertical · diversification Increasing : the depth of a program both in terms of sales of existing products (forward integration) and in terms of the origin of r aw materials and production resources (back ward integration) ; Bsp.. 1. eigene Stores eröffnen für Produkte , Z. Beschaffung von Rohstoffen oder eigene Produktion von Komponenten · Lateral diversification push : into completely new product and market areas , the company breaks out of the framer its traditional distant work of industry and becomes active in fields of activity Bsp Google. ist in autonome Fahrzeuge Gesundheitsforschung , diversifiziert Weaknesses of the Product-Market Matrix 1. (in Strategic thrusts a re unilaterally geared towards growth and are therefore incomplete stagnating or shrinking ( markets s disinvestment and withdrawal strategies often prove necessary 2 Market. participant-related aspects , in particular the important competitive dimension , a re not explicitly taken into account. Internal 3 strengths and weaknesses as well as the company's competencies are implicitly taken as a basis when alternatives systematically tracked searching for strategic , but are not down extrapolation and of existing 4.Too strong a focus on pragmatic improvement conditions. No coordination individual 5 consideration of the necessary of strategic business units with regard to the resource burden and risk situation Ansoff or Product-Market Matrix Market Area Strategy With what developed what regional scope a re markets to be and to extent a re markets in different developed international cultivation ? countries to be through market International. Marketing Strategy -Safeguarding the company's domestic portfolio by pursuing lucrative foreign business opportunities 2 Multinational. Marketing Strategy national Subsidiaries foreign markets act quasi-autonomous their national strategy be > as companies - on can , primarily oriented towards the special features or requirements of the respective foreign market Global. 3 Marketing Strategy Processing of the global market without special consideration of national wishes and needs. > By consciously accepting nationally suboptimal strategies an attempt is made to realize a globally optimal - , strategy Market Segmentation Strategy To what extent should the market be cultivated undifferentiated or differentiated according to various target ? group segments. Undifferentiated market cultivation strategy > cultivation of the entire market with product and marketing program - one one - segmentation of the product market is not necessary. Concentrated market 2 development strategy (niche > building up a strong market position in a sub-market or market niche strategy) concentrating marketing - , activities on a particularly lucrative market segment market cultivation. 3 Differentiated strategy all attractive market > market segments of a relevant product market a re supplied with segment-specific services - through different use of marketing instruments  2. Market Participant Strategies Definition : Market plans for (customers , participant strategies are used to define the behavioral the relevant market participants retailers , competitors) and key stakeholders in order to achieve the defined marketing objectives. Market participant strategies focus on the selection of options that ensure a comparative competitive advantage Customer oriented. Strategy : market customer's > Which development options lead to the preference to purchase a service offered and to - ? the creation of a comparative competitive advantage z. Sales Intermediary - oriented Strategy -What behavior should be adopted towards sales intermediaries or trading companies in order to achieve the defined marketing objectives ?. 3 Competitor-oriented Strategy > What actions should be taken towards competitors in order to achieve the defined marketing objectives ? - 4 Stakeholder-oriented. Strategy -What behavior is towards the relevant stakeholder in order to the market-related groups ensure necessary and social ? acceptance and support of these groups Basic Dimensions of Customer-Oriented Strategies. Innovation Orientation Pioneering position - Time as a strategic competitive advantage - Opportunity to set industry standards - 2. Quality Orientation usually represented by the relative price compared to competitors - Objective technical quality Reference : to supplier-related aspects such as quality control compliance with certain - , technical specifications, reject ratess etc. -Subjective customer related quality : Result of a perception and evaluation process on the part of the customer. According to this , quality results from the individual fulfillment of benefits in certain usage situations Orientation. 3 Branding -Achieving a differentiating effect through branding or the image associated with a brand Breadth Orientation Program 4. able -Describes the flexibility of being to offer numerous product variants quickly and profitably Potential cultivation for differentiated market - - Offering a broad and deep range of products and accompanying services Disadvantages High of resources complexity costs - : use , 5. Cost Orientation -Low direct costs through the use of economies of scale , experience c u r ve effects and economies of scope Sales Intermediary-Oriented Strategy Filter functions of the trade Based on its filter function , the retailer decides : - whether a product is distributed at all ('distribution filter") whether a manufacturer's range is distributed "image-adequately " Climage filter") - - what quantitative and qualitative shelf space is provided for the product C"placement filter') - which sales and after-sales advice and services complement the manufacturers range on the retail side ("Service and device filter") classic approach to sales-oriented strategies Push Strategy : The manufacturer "pushes" its products on to the market by means of appropriate retailer- oriented incentives via the sales channels Pull Strategy : The manufacturer generates a demand pull from consumers towards retailers through effective end-consumer-oriented marketing. Adaptation Strategies : - The manufacturer chooses "industry-standard" or "prover" ways to distribute its ow n products -Hardly any ow n initiatives , adaptations to the ideas of retailers with strong demand 2. Conflict Strategies -Active shaping of sales channels while disregarding the behavior and buying power of retailers -Manufacturer strives for marketing leadership in the sales channel. 3 Cooperation Strategies -Realization of divergent objectives with a profit for both partners -Active influencing of direct customers with the aim of achieving extensive coordination of marketing activities (vertical marketing  Bypass Strategy 4. -Total renunciation of business relations with the trade control -Unrestricted of all marketing instruments retail Increased costs by taking over tasks , personnel expenses, increased risk direct sales -Types Stationary : , mobile or. Evasion 5 Strategy - Partial circumvention -Abandonment of business relationships with retail companies with particularly strong demand -Generally leads to a decline in the level of