BrandPro, Marketing Studies II, PDF

So what? How do these insights apply to 74 Marketing Studies II  Marketing Objectives In Brand Pro Initial Share Price Index (SPI) = 100 75 Marketing Studies II  The BrandPro World THE BRANDPRO...

So what? How do these insights apply to 74 Marketing Studies II  Marketing Objectives In Brand Pro Initial Share Price Index (SPI) = 100 75 Marketing Studies II  The BrandPro World THE BRANDPRO WORLD The BrandPRO world is a fictitious country of 80 million Your inhabitants that roughly behaves like most markets. TEAM Inflation is virtually zero and no major political, social or economic event is anticipated in the near future. THE SONITE MARKET Understanding consumer needs and matching their expectations is key to designing a favorable offering. Exceeding consumer expectations is not always a smart decision. This may in particular result in a lower margin or you may upset your consumers. For instance, a long-lasting battery may be heavy and a large screen may not fit in a Your COMPETITORS purse.  Marketing process overview in Brand PRO 77 Marketing Studies II The Marketing Planning Process OPPORTUNITIES / THREATS Phase 1 Preliminary analysis and screening: Competitive The Competitive Environment Economic Political/legal Phase 2 Level of technology Segmentation, Targeting, Positioning Culture Structures of distribution Geography Phase 3 Adapting the marketing mix Other to target market(s) Phase 4 Implementation and control 78 Marketing Studies II  Copyright by StratX Know yourself - get familiar with your products 79 Marketing Studies II Know your enemy - get familiar with the marketing environment (market, competitors) Your TEAM Your COMPETITORS  app.wooclap.com/BRANDPROSS ▪ Which brands are you going to manage in Brand PRO ? The Marketing Planning Process Phase 1 Preliminary analysis and screening: matching company/country needs Segmentation What are the available markets? Targeting Phase 2 In which market segment can we Segmentation, Targeting, be most effective? Positioning Positioning Considering the competitive Phase 3 environment and our competitive Adapting the marketing mix advantages, what is our to target market(s) differentiation strategy for the targeted segment(s)? Phase 4 Implementation and control 82 Marketing Studies II The Marketing Planning Process Phase 1 Segmentation Preliminary analysis and screening: matching company/country needs Trendy Phase 2 Segmentation, Targeting, Positioning Savvy Phase 3 Adapting the marketing mix to target market(s) Phase 4 Implementation and control Pros 83 Marketing Studies II  Segmentation Which segment to target? Which segment is most attractive? 84 Marketing Studies II  https://app.wooclap.com/BRANDPROSS Which ONE of the following is not a Brand Pro segment? The Marketing Planning Process Phase 1 Targeting Preliminary analysis and screening: matching company/country needs Phase 2 Segmentation, Targeting, Positioning Phase 3 Adapting the marketing mix to target market(s) Phase 4 Implementation and control 86 Marketing Studies II  Targeting Strategy 87 Marketing Studies II  https://app.wooclap.com/BRANDPROSS Which ONE of the following is NOT related to a SEGMENT ATTRACTIVENESS analysis ? The Marketing Planning Process Phase 1 Positioning Preliminary analysis and screening: matching company/country needs Phase 2 Segmentation, Targeting, Positioning Phase 3 Adapting the marketing mix to target market(s) Phase 4 Implementation and control 89 Marketing Studies II  Possible value propositions for positioning maps A B C The trap D E Source: Kotler et al. 2020 90 Marketing Studies II  Technologic Forces Economic Forces Product/Brand Cultural Positioning Forces Marketing Mix Segmentation Place/ /Targeting Decisions: Product Distribution PRODUCT Social Promotion Price Forces Competitive Legal/Political Advantage Forces Competitive Forces The Marketing Planning Process Phase 1 Product Preliminary analysis and screening: matching company/country needs Features / Attributes Adaptation Phase 2 Segmentation, Targeting, Positioning Brand name Packaging Phase 3 Adapting the marketing mix Service to target market(s) Warranty Phase 4 Style Implementation and control 92 Marketing Studies II  Product Decisions In Brand PRO, you only decide about product attributes SONITE PRODUCTS 93 Marketing Studies II  Which number of product attributes is ideal? 94 Marketing Studies II  Brand PRO Product Decisions 95 Marketing Studies II  https://app.wooclap.com/BRANDPROSS ▪ Which ONE of the following is NOT part of the PRODUCT strategy?  Product Life Cycle and Marketing Mix Decisions 97 Marketing Studies II Source: Kotler et al. 2020  Product Life Cycle and Marketing Mix Decisions 98 Marketing Studies II Source: Kotler et al. 2020  https://app.wooclap.com/BRANDPROSS Which of the following is true about product attributes?  Technologic Forces Economic Forces Product/Brand Cultural Marketing Mix Positioning Segmentation Forces Decisions: Product Place/ Distribution /Targeting PRICING Social Promotion Price Forces Competitive Legal/Political Advantage Forces Competitive Forces The Marketing Planning Process Phase 1 Preliminary analysis and screening: Price matching company/country needs Competitive adaptation Life-cycle adaptation Phase 2 Segmentation, Targeting, Positioning Phase 3 Adapting the marketing mix to target market(s) Phase 4 Implementation and control 101 Marketing Studies II  Price Decisions in Brand PRO 102 Marketing Studies II  Technologic Forces Economic Forces Product/Brand Cultural Positioning Forces Segmentation Marketing Mix Product Place/ Distribution /Targeting Decisions: PLACE Social Promotion Price Forces Competitive Legal/Political Advantage Forces Competitive Forces  Distribution in Brand PRO ▪ There are NO distribution decisions to be made in Brand PRO ▪ The platform assumes 35% as the fix distribution costs for your products, regardless of product design / pricing / promotion decisions 104 Marketing Studies II  Technologic Forces Economic Forces Product/Brand Cultural Marketing Mix Positioning Segmentation Forces /Targeting Decisions: Product Place/ Distribution PROMOTION Social Forces Promotion Price Competitive Legal/Political Advantage Forces Competitive Forces The Marketing Planning Process Phase 1 Preliminary analysis and screening: Promotion matching company/country needs Advertising Personal selling Phase 2 Segmentation, Targeting, Media Positioning Message Phase 3 Sales promotion Adapting the marketing mix to target market(s) Phase 4 Implementation and control 106 Marketing Studies II  Promotion tools ▪ Brand Pro assumes you will invest in all of these types of promotion tools (one budget for all promotion types) ▪ You only control the investment in promotion, you don't actually manage promotion campaigns 107 Source: Kotler et al. 2020 Marketing Studies II  Promotion/Communication Decisions in Brand PRO 108 Marketing Studies II  Promotion/Communication Decisions in Brand PRO 109 Marketing Studies II The Marketing Planning Process Phase 1 Planning Preliminary analysis and screening: matching company/country needs Control process Objectives Budgets Implementation Phase 2 Segmentation, Targeting, Assignment of responsibility Positioning Measurement of performance Phase 3 Error correction Control Adapting the marketing mix to target market(s) REMEMBER to FORECAST a scenario with your decisions before you RUN Phase 4 them!!! Implementation and control 110 Marketing Studies II  Forecasting – Estimate your Contribution 111 Marketing Studies II  Homework! ▪ Prepare for the Brand Pro Challenge !!! - Download the manual & preview BrandPRO : https://brandpro2.stratxsimulations.com/ (or K2) - Take the 1-hour Google Garage course on Public Speaking: https://tinyurl.com/PUBSPEAK23 112 Marketing Studies II Thank you! Questions? [email protected] (Course Coordinator) [email protected] (Sophia-Antopolis Facilitator)