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Seller Acquisition – Marketplace or B2B and B2C eCommerce Platform How to Attract Sellers on Your Virtual Multi Vendor Marketplace Fulcrum is here when you are ready to expand your business or realign company resources. Whether buying or selling, we can help you successfully navigate through the acquisition process. Our team has more than one billion hours… Read More »Seller Acquisition – Marketplace or B2B and B2C eCommerce Platform

Mobile App MarketingHome / Mobile App Marketing Mobile app marketing is not as easy as it may seem at first sight. It is not just about building and publishing a great software in a leading app store or ad network. It is also about wise and strategic mobile app marketing solutions that include several fundamental… Read More »Mobile App Marketing

Sales Staff Our team of skilful and detail-focussed sales and marketing professionals offer our Principal Suppliers and their brands dependable and sustainable long-term growth and profitability. From brand managers to area managers and knowledgeable in-store staff, we act as  of our clients’ brands, ensuring the very best representation. We do more than the average distributor; together… Read More »Sales Staff

Customized staffing solutions for automotive marketing campaigns. Fulcrum provides full-service staffing and management solutions for automotive marketing campaigns.  Whether you need staff for an auto show, a ride and drive event, or any other type of automotive event, Fulcrum has you covered. We provide professional, articulate, and confident automotive staff that will not only draw… Read More »Auto Show Staff

Present your company in the best light with Fulcrum’s trade show staffing solutions. At a trade show, a company’s image and success are dependent on the people representing them on the trade show floor; after all, they are the ones who are responsible for attracting attendees to the exhibit area, introducing guests to the brand,… Read More »Trade Show Staffing

Create memorable experiences using Fulcrum’s trusted convention staffing solutions. Fulcrum can provide you with dedicated and professional individuals that will work hard to ensure that your company or convention makes a positive impression from the start. No matter what your convention staffing needs are, we are ready to help you successfully reach your goals. We… Read More »Convention Staffing

Liven up your experiential marketing event with Fulcrum’s experienced event emcees and DJs. Event emcees and DJs are known for drawing in a crowd in a unique and interactive way.  From their enthusiasm and their ability to work a mic and wow the crowd, emcees and DJs can be an incredible addition for your experiential… Read More »Event Emcees and DJS

Reach diverse communities directly using Fulcrum’s talented pool of bilingual speaker and multicultural staff for your multicultural marketing events. Fulcrum’s event hosts and presenters exude poise and professionalism and with their stage presence they can present your brand’s product or service in a compelling way by providing timed presentations to cover key brand messaging. We… Read More »Event Hosts and Presenters

We work in partnership with our clients to find the best possible staff for event marketing campaigns. The mark of a good marketing event – one that will keep people talking – often lies in the people working the event. At Fulcrum, we have more than 10 years of experience connecting clients to top-tier, dependable,… Read More »Event Marketing Staff

Human Billboards have a strong and immediate impact.’ Human Billboards Want to target high traffic areas and hubs where other sort of media might not be available? Human Billboards  or  human banner have a strong and immediate impact and avoid conventional methods of getting your message out there. OVERVIEW Face-to-Face Engagement with target audience Energetic staff… Read More »Human Banner

Campus Marketing Head back-to-school and connect students and key influencers with your brand on college campuses across the country using Fulcrum’s event staffing services. Campus marketing events offer brands a great way to reach a niche demographic that they may have a hard time reaching through traditional forms of advertising.  For brands to stay relevant… Read More »Campus Marketing

Fulcrum delivers top-notch Brand Ambassadors to create lasting and rewarding Relationships with Consumers. Our brand ambassadors are highly professional, engaging, and trained in targeted brand messaging – vetted and hand-selected to become not only the face and voice of your brand, but also serve as an extension of your organization. They bring enthusiasm and positivity to every event. Fulcrum… Read More »Brand Ambassadors

Event Promoters are a key component for any brand or company to increase brand  awareness and sales. Our Event Promoter  can appear at your events, trade shows, in store, on tours and even as promotional staff and street teams. At Fulcrum we believe the Event Promoter  should be able to appear and act like our clients’ own staff, and uphold… Read More »Event Promoter

Fulcrum was founded in 2007 to fill the gap in the market that existed for well trained promotional staff and hosts for events. Many of our promotional staff have worked with us for several years. As we are well known in the industry, we receive a host of applications through our website every day. Join… Read More »Recuritement Process

Create unforgettable events and promote your brand with Fulcrum’s Passionate and Talented promotional staff. As one of the pioneers in promotional staffing, Fulcrum has a unique understanding of what it takes to staff promotional marketing events and how to ensure each experience is meaningful and memorable. By constantly and consistently working to find top notch… Read More »PROMOTIONAL STAFFING

At Fulcrum, we truly value our clients and believe in open and honest communication, and top-notch customer service. We will take care of your event staffing and management needs, from start to finish, so you can focus on the bigger picture. We’re here to help you reach your event goals. OUR PEOPLE POWER YOUR PROMOTIONAL… Read More »Events

Planning your brand strategy will involve the following: Need Help Building and Promoting your Brand? Let’s meet and IMMEDIATELY create a positive impact on your brand.By definition, brand strategy is a long-term plan for the development of a successful brand in order to achieve specific goals. A well-defined and executed brand strategy affects all aspects… Read More »Brand Strategy

Building a corporate image and Corporate Contact programs is similar to building a personal reputation. Corporations, like individuals, explicate and evolve an affirmative reputation among their customers, employees, shareholders, vendors, immediate neighbors and even government agencies. Corporate image and Corporate Contact programs is the insight created by a business or corporation for the target audience.… Read More »Corporate Contact programs

Mall marketing is an ideal way to generate brand awareness for our clients and to introduce new products/services to consumers. Customers are already prepared for spending at malls, and tend to allow for more time to learn about our clients’ offerings. Our vibrant promoters relay the vision of our clients and create positive associations with… Read More »Mall Marketing

A kiosk is a small, temporary, stand-alone booth used in high-traffic areas for marketing purposes. A kiosk is usually manned by one or two individuals, who help attract attention to the booth to get new customers. Retail kiosks are frequently located in shopping malls or on busy city streets with significant foot traffic. Brand ActivationBTL… Read More »Kiosk Activities

Demonstration Activities In an increasingly competitive retail space, Demonstration Activities and in-store product sampling offer brands a unique opportunity to cut through the noise and engage with customers in a fun and engaging way that creates brand awareness, builds loyalty and drives sales.Fulcrum specialise in producing and implementing highly effective Demonstration Activities and  in-store sampling by creating a compelling customer… Read More »Demonstration Activities

ulcrum Retail Branding Design Agency Fulcrum is a Retail Branding Agency specialising in Brand Strategy, Identity Development and Brand Activation. From our pune location we proudly partner with global businesses and ambitious startups who, like us, believe in the power of great branding. Timeless, strategic, inspired and engaging. We create simple yet agile brand identities… Read More »Retail Branding

Door to Door Promotions Door to Door marketing To the new comers door to door marketing may sound like hectic and less successful idea but we are in this business since last 10 years. We have proven results from our door to door/ face to face marketing campaign. Door to Door marketing means our sales… Read More »Door to Door Promotions

Product Sampling Staff Fulcrum are a highly recommended provider of product sampling staff. We specialise in the implementation of sampling campaigns using our in house sampling team and logistical know-how. We can sample your product throughout a range of Maharashtra wide locations including shopping centers, supermarkets, city centers, train stations and everywhere in between. Sampling is a great way to get… Read More »Product Sampling Team

Looking for the Sampling Promoters to Distribute Your Products? Getting Your Products Noticed Tried by Consumers, and Turn Shoppers into Buyers Fulcrum has been creating and accomplishing outstanding Product sampling events that generates results. We benefit in creating, planning and executing agenda from conception to completion. It is important to us at Fulcrum to get your product into the… Read More »Products Sampling Events

Leaflet Distribution Door-to-door leaflet distribution has a wealth of advantages. Perhaps the most important factor is that it’s far more cost-effective, and indeed effective, than many traditional marketing routes. It’s a simple and affordable way to spread the word about your business, highlight a specific product or service, or even promote your values in your… Read More »Leaflet Distribution

About Us and Product Launch Our aim is to be your outsourced Field Sales Partner of choice. We work in partnership with our clients to Product Launch and  activate sales and deliver retail excellence. We do this through empowering our Field Sales teams with clear objectives, sense of purpose and effective technology, and measure our success by evaluating the return on investment. We… Read More »Product Launches

Currently companies are experiencing challenges in recruiting, managing and retaining in-store sales promoters and In-Store Promotion. Fulcrum offers a fully functional outsourcing solution that delivers guaranteed sales results. In turn this creates the opportunity for larger budget allocation to this area of business as well as a greater return on investment (ROI). Whether your goal… Read More »in-store promotion

Merchandising is essential to ensure your products and brand get the exposure that they deserve. At Fulcrum, we have vast experience when it comes to merchandising and placing Free Standing Display Unitss, shippers and POS into retail environments including shops and supermarkets. Merchandising can be the difference between your products being noticed and purchased or being ignored.… Read More »Merchandising

Shopper Marketing 3 Simple Rules to How We Approach Right Time, Right Place, Right Audience Shopper Marketing & POS We work with brands to leverage the retail environment. We have experience in developing concepts to ensure increased distribution, off shelf feature, increased rate of sale and enhanced consumer/Shopper Engagement and Shopper Marketing. We also understand… Read More »Shopper Marketing

Promotions Want to find out how we can improve efficiencies on your brand communication activities and at a better cost? Fulcrum is a progressive & creative organization, specializing in Sales, Marketing, Brand Promotions, Training & Development and Brand Activation. The organization started up in Maharashtra in 2007. As a results-based company, we have provided our… Read More »Promotions

Sales Promotion We generate brand-building activation ideas that engage your consumers and lead to measurable results. Our sales promotion encompass a variety of short-term techniques designed to attract your consumers to respond to your brand in a positive way. The most effective sales promotion is directly associated with product purchasing. This sales promotion is intended… Read More »Sales Promotion

Laying the Foundation for Effective Marketing Campaigns To use integrated marketing communication (IMC) effectively in marketing campaigns, marketers go through several planning steps to define precisely what they want to accomplish and with whom. Only with this information can they be sure they are identifying the right message and promotional mix to achieve their goals. Standard marketing campaign… Read More »Laying the Foundation for Effective Marketing Campaigns

Introduction to IMC Objectives and Approach What you’ll learn to do: explain factors to consider when selecting marketing communication methods to execute the strategy It’s clear that with the growing proliferation of communication tools and methods,  integrated marketing communications are the way of the future—and now. Seemingly every day brings a new social media tool or digital marketing… Read More »Introduction to IMC Objectives and Approach

Introduction to the Marketing Message What you’ll learn to do: discuss how to develop effective messaging for marketing communications At the center of any successful marketing activity is a message. Without a solid, consistent message, your marketing efforts are like a compass without an arrow: there is nothing to point your target audiences in the direction… Read More »how to develop effective messaging for marketing communications

Marketing Campaigns and IMC LEARNING OBJECTIVES Explain how marketers use IMC in their campaigns in order to execute marketing strategy The Marketing Campaign Determining which marketing communication methods and tools to use and how best to combine them is a challenge for any marketer planning a promotional strategy. To aid the planning process, marketing managers often use a… Read More »Marketing Campaigns and IMC

The Promotion Mix: Marketing Communication Methods The promotion mix refers to how marketers combine a range of marketing communication methods to execute their marketing activities. Different methods of marketing communication have distinct advantages and complexities, and it requires skill and experience to deploy them effectively. Not surprisingly, marketing communication methods evolve over time as new communication tools and… Read More »The Promotion Mix: Marketing Communication Methods

What Is Marketing Communication? Defining marketing communication is tricky because, in a real sense, everything an organization does has communication potential. The price placed on a product communicates something very specific about the product. A company that chooses to distribute its products strictly through discount stores sends a distinct message to the market. Marketing communication refers to… Read More »What Is Marketing Communication?

Integrated Marketing Communication (IMC) Definition LEARNING OBJECTIVES Define integrated marketing communication (IMC) Explain how IMC strengthens the impact of marketing communication tools List the primary marketing communication methods marketers use as part of their IMC strategy IMC: Making an Impact with Marketing Communication Having a great product available to your customers at a great price… Read More »Integrated Marketing Communication (IMC) Definition

Introduction to Integrated Marketing Communication (IMC) What you’ll learn to do: explain integrated marketing communication (IMC) and its connection to the organization’s marketing strategy Promotion is a powerful part of the marketing mix because it determines what and how you communicate with target audiences. In today’s world, promotion often has a fancy name: integrated marketing communication (IMC).… Read More »integrated marketing communication (IMC) and its connection to the organization’s marketing strategy

Why It Matters: Promotion: Integrated Marketing Communication (IMC) Why learn about integrated marketing communication? The fourth P, promotion, focuses on communicating with target audiences about something: a product, service, organization, idea, or brand. Communication is how you let people know about your offering (product) and why it matters, how much it costs (price), and where to find it (place). A… Read More »Why It Matters: Promotion: Integrated Marketing Communication (IMC)

Putting It Together: Place: Distribution Channels Let’s return to our earlier example of Whole Foods’ and Trader Joe’s distribution strategies now that we understand much more about marketing channels and supply chains. Whole Foods and Trader Joe’s use very different approaches to source their products, place stores, and get the products to the stores. Both companies… Read More »Putting It Together: Place: Distribution Channels

Supply Chain and Channel Strategy LEARNING OBJECTIVES Explain the impact of the supply chain on the distribution strategy Let’s look at an example in which the supply chain is key to a successful channel strategy that delivers the right value to customers. Elli.com is an online retailer that sells customized wedding materials to brides. Elli specializes in… Read More »Supply Chain and Channel Strategy

Integrated Supply Chain Management LEARNING OBJECTIVES Define integrated supply chain management As the importance of managing the supply chain well has increased, companies have acknowledged that they must manage the supply chain as a complete system and treat it as an integrated function. When an organization takes an integrated approach, it is recognizing that it cannot manage… Read More »Integrated Supply Chain Management

Components of a Supply Chain LEARNING OBJECTIVES Identify the components of a supply chain Introduction The interconnected teams and organizations that comprise the supply chain provide a range of different functions. The supply chain for every organization is different. In fact, each product can have different supply chain needs and challenges, leading to different players.… Read More »Components of a Supply Chain

Introduction to Integrated Supply Chain Management and the Distribution Strategy Earlier in this module we discussed the definition of supply chain and the difference between the supply chain and marketing channels. As a reminder, the supply chain is a system of organizations, people, activities, information, and resources involved in moving a product or service from supplier… Read More »Integrated Supply Chain Management and the Distribution Strategy

Retail Strategy LEARNING OBJECTIVES Describe the elements of the retail marketing strategy Just when we have finally mastered the marketing mix that includes the four Ps, we arrive at the retail strategy. The retail marketing strategy includes all of the elements of the traditional marketing mix: Retailers buy product from producers or wholesalers that will most appeal… Read More »Retail Marketing Strategy

Types of Retailers LEARNING OBJECTIVES Differentiate between common types of retailers Beyond the distinctions in the products they provide, there are structural differences among retailers that influence their strategies and results. One of the reasons the retail industry is so large and powerful is its diversity. For example, stores vary in size, in the kinds of… Read More »Types of Retailers

Retailing LEARNING OBJECTIVES Define retailing Introduction Retailing involves all activities required to market consumer goods and services to ultimate consumers who are purchasing for individual or family needs. By definition, B2B purchases are not included in the retail channel since they are not made for individual or family needs. In practice this can be confusing because… Read More »Retailing

Introduction to Retailers As Channels of Distribution What you’ll learn to do: describe types of retailers and explain how they are used as a channel of distribution Retailing is important for marketing students to understand for two main reasons. First, most channel structures end with a retailer. While products may pass through a wholesaler or involve a… Read More »Retailers As Channels of Distribution

Service Outputs LEARNING OBJECTIVES Explain the role of service outputs in the distribution strategy As with each element of the marketing mix, different segments of customers have different needs with regard to place, or distribution. Service outputs offer a way to focus on the unique needs of a target buyer and plan for those in the distribution… Read More »role of service outputs in the distribution strategy

Third-Party Sales LEARNING OBJECTIVES Describe common approaches to successful third-party sales Introduction Throughout the channel structure there are a number of points where sales may occur. The most straightforward of these is the direct channel, in which the producer sells directly to the consumer. In every other structure, multiple sales occur—from producer to wholesaler, from wholesaler… Read More »Third-Party Sales

Optimizing Channels LEARNING OBJECTIVES Explain how marketers can optimize their channel strategy Introduction Geico didn’t simply find itself owning the online, direct channel. It analyzed its customer needs and competitors’ positions and chose a strategy to accelerate sales growth: Geico defined and managed its channel strategy. The Channel Management Process The channel management process contains five steps.… Read More »how marketers can optimize their channel strategy

Introduction to Managing Distribution Channels What you’ll learn to do: explain how channels affect the marketing of products and services By March 2014, most Americans had noticed the Geico gecko; some had fallen in love with him. Regardless of buyers’ feelings about the little lizard, by 2014 enough had purchased auto insurance from Geico through its… Read More »how Distribution Channels affect the marketing of products and services

Supply Chain and Marketing Channels The supply chain and marketing channels can be differentiated in the following ways: The supply chain is broader than marketing channels. It begins with raw materials and delves deeply into production processes and inventory management. Marketing channels are focused on bringing together the partners who can most efficiently deliver the right… Read More »Supply Chain and Marketing Channels

What Is a Supply Chain? We have discussed the channel partners, the roles they fill, and the structures they create. Marketers have long recognized the importance of managing distribution channel partners. As channels have become more complex and the flow of business has become more global, organizations have recognized that they need to manage more than… Read More »What Is a Supply Chain?

Marketing Channels vs. Supply Chains LEARNING OBJECTIVES Differentiate between marketing channels and the supply chain What Is a Supply Chain? We have discussed the channel partners, the roles they fill, and the structures they create. Marketers have long recognized the importance of managing distribution channel partners. As channels have become more complex and the flow of… Read More »Marketing Channels vs. Supply Chains

The Role of Intermediaries LEARNING OBJECTIVES Explain the role of intermediaries such as wholesalers in the distribution channel Introduction While the retail channel is most familiar to students, wholesalers play an important role as intermediaries. Intermediaries act as a link in the distribution process, but the roles they fill are broader than simply connecting the different channel… Read More »role of intermediaries such as wholesalers in the distribution channel

Channel Structures LEARNING OBJECTIVES Differentiate between direct, retail, wholesale, and broker (agent) channels While channels can be very complex, there is a common set of channel structures that can be identified in most transactions. Each channel structure includes different organizations. Generally, the organizations that collectively support the distribution channel are referred to as channel partners. The direct… Read More »Channel Structures : direct, retail, wholesale, and broker (agent) channels

Distribution Objectives LEARNING OBJECTIVES Explain what channels of distribution are and why organizations use them Introduction The distribution strategy supports company-level objectives, as well as marketing objectives. Typically, distribution approaches support company-level objectives related to growth, as in the example of Monster Energy, or profitability, since distribution can improve company efficiencies. Think about your perspective as a… Read More »Distribution Objectives

Define Channels of Distribution LEARNING OBJECTIVES Explain what channels of distribution are and why organizations use them Evolution of Channels of Distribution As consumers, we take for granted that when we go to a supermarket the shelves will be filled with the products we want; when we are thirsty there will be a Coke machine or… Read More »Define Channels of Distribution

Introduction to Using Channels of Distribution What you’ll learn to do: explain what channels of distribution are and why organizations use them Monster Energy drink is a dominant player in the growing market for drinks enhanced with stimulants to give consumers extra energy. Monster promises to deliver “a big, bad buzz.” The company sponsors the X Games and a… Read More »what channels of distribution are and why organizations use them

Why It Matters: Place: Distribution Channels Why learn about distribution channels? More Than Just Another P Of the elements in the marketing mix, product and price are perhaps the easiest to understand. We see products all around us, and we understand that we need to pay a specific price to buy them. Promotion is sometimes… Read More »Why It Matters: Place: Distribution Channels

Putting It Together: Pricing Strategies Let’s return to our discussion of Amazon Prime pricing in the context of the pricing concepts we’ve discussed. It might be helpful to review the key facts: In 2005, Amazon introduced Amazon Prime for an annual membership fee of $79 The service initially included unlimited 2-day shipping on orders Over… Read More »Putting It Together: Pricing Strategies

Introduction to Competitive Bidding What you’ll learn to do: explain the use of competitive bidding for B2B pricing Generally in business-to-consumer sales there is a standard price structure for all customers. That doesn’t necessarily mean that every customer will pay exactly the same price. The company may provide discounts—such as “loyalty” discounts, for instance—to a particular group of customers, but… Read More »use of competitive bidding for B2B pricing

Products with Elastic and Inelastic Demand LEARNING OBJECTIVES Identify examples of products with elastic and inelastic demand Now that you’ve had some practice calculating the value of elasticity, let’s turn to some of the factors that play a role in whether a product is likely to have elastic or inelastic demand. The following factors can… Read More »Products with Elastic and Inelastic Demand

Elasticity and Price Changes LEARNING OBJECTIVES Define elasticity Explain the impact of elasticity on price changes Elasticity of Demand The following video is a little long to watch, but it provides an excellent overview of elasticity and explains both the concept and the calculations in a simple, easy-to-follow way. In review: Price elasticity measures the… Read More »Elasticity and Price Changes

Introduction to Price Elasticity What you’ll learn to do: explain price elasticity and its impact on price Now that you understand different pricing strategies, we’re going to tackle one more concept that helps when selecting the right strategy: price elasticity. Elasticity helps us understand how much a change in price will affect market behaviors. If we make a small change in… Read More »Introduction to Price Elasticity

Discounting Strategies LEARNING OBJECTIVES Explain how price discounting is used and why it can be effective In addition to deciding about the base price of products and services, marketing managers must also set policies regarding the use of discounts and allowances. There are many different types of price reductions–each designed to accomplish a specific purpose. The major… Read More »Discounting Strategies

Cost-Oriented Pricing LEARNING OBJECTIVES Explain why a company would use cost-oriented pricing Cost-Plus Pricing Cost-plus pricing, sometimes called gross margin pricing, is perhaps the most widely used pricing method. The manager selects as a goal a particular gross margin that will produce a desirable profit level. Gross margin is the difference between how much the goods cost… Read More »Cost-Oriented Pricing

Penetration Pricing LEARNING OBJECTIVES Explain why a company would use penetration pricing What Is Penetration Pricing? Penetration pricing is a pricing strategy in which the price of a product is initially set low to rapidly reach a wide fraction of the market and initiate word of mouth.[1] The strategy works on the assumption that customers will switch to… Read More »Penetration Pricing

Introduction to Common Pricing Strategies What you’ll learn to do: compare common pricing strategies Thus far we have discussed many pricing considerations: the impact of pricing on value perceptions, the effects of elasticity, and approaches to common pricing objectives. In this section we are going to introduce some very specific, yet standard pricing strategies that organizations use to bring… Read More »Introduction to Common Pricing Strategies

Benefits of Value-Based Pricing LEARNING OBJECTIVES Describe the benefit of value-based pricing for customers The Customer and the Pricing Decision We have discussed common company objectives that affect pricing and the competitive impact on pricing. The most important perspective in the pricing process is the customer’s. Value-based pricing brings the voice of the customer into the pricing… Read More »Benefits of Value-Based Pricing

Competitor Impact on Pricing LEARNING OBJECTIVES Describe how competition affects pricing strategies Introduction It’s important to remember that pricing is just one component of the marketing mix, and even very specific pricing decisions need to take into account the other components. This is particularly true in a competitive marketplace. Actions by different competitors integrate all elements of the marketing mix and do… Read More »Competitor Impact on Pricing

Break-Even Pricing LEARNING OBJECTIVES Define break-even pricing Introduction Regardless of the pricing strategy a company ultimately selects, it is important to do a break-even analysis beforehand. Marketers need to understand break-even analysis because it helps them choose the best pricing strategy and make smart decisions about the short- and long-term profitability of the product. The… Read More »Break-Even Pricing

Introduction to Pricing Considerations What you’ll learn to do: explain the primary factors to consider in pricing Now that we’ve considered the customer perspective, we need to understand how pricing fits into the company strategy. It’s important to remember that all elements of the marketing mix, including pricing, fit into a larger customer mission and strategy.… Read More »Introduction to Pricing Considerations

The Psychology of Pricing LEARNING OBJECTIVES Discuss psychological factors in pricing Introduction You will notice that when we discussed the value equation in the previous reading, we referred to perceived benefits and perceivedcosts, rather than absolute/actual benefits and costs. Every customer perceives benefits and costs differently, and many of these perceptions aren’t even conscious. There are very few buying decisions in which a… Read More »The Psychology of Pricing

Demonstrating Customer Value LEARNING OBJECTIVES Describe the customer view of value and pricing Introduction Rent the Runway is a company that lets customers borrow expensive designer dresses for a short time at a low price—to wear on a special occasion, e.g.— and then send them back. A customer can rent a Theia gown that retails for $995… Read More »Demonstrating Customer Value

Introduction to the Impact of Pricing on Value What you’ll learn to do: discuss how price affects the value of an organization’s products or services Price determines how much revenue a company is going to earn. It determines whether the business is covering the costs to create and deliver its products. Price drives the financial health… Read More »Introduction to the Impact of Pricing on Value

Why It Matters: Pricing Strategies Why learn about pricing strategies? When Amazon.com was created in 1994, the company sold books online. While many viewed it as a real threat to traditional bookstores, few, other than its founder and CEO, Jeff Bezos, imagined what the company would become. Today the services that Amazon offers are extensive,… Read More »Why It Matters: Pricing Strategies

Putting It Together: Product Marketing In this module we’ve covered a wide range of topics related to the role of the product in the marketing mix. As you’ve seen, creating clear value for the customer, understanding the product life cycle, and creating a balanced product portfolio are all interrelated aspects of thinking about the customer and… Read More »Putting It Together: Product Marketing

Improved Success in Product Development LEARNING OBJECTIVES Identify approaches to improving the success of new products Introduction One common cause of failure in the developing and marketing of new products is something called “product-market fit.” Marc Andreesen, a technology entrepreneur and investor who has written about this, explains that product-market fit is simply being in a… Read More »Identify approaches to improving the Success in Product Development

Diffusion of Innovation LEARNING OBJECTIVES Explain common challenges of new products Introduction Just as the product life cycle has a typical bell-shaped pattern, there is a predictable—and similar-shaped—pattern of buying, or adoption, when it comes to new products. This customer adoption pattern is important because it can be used to inform marketing decisions. Diffusion-of-Innovation Theory… Read More »Diffusion of Innovation

Introduction to Challenges for New Products What you’ll learn to do: identify the challenges associated with marketing a new product successfully Have you ever waited in line to be among the first to buy a new product when it was released? Are you careful, maybe pragmatic, about trying new products? Do you continue to use products… Read More »identify the challenges associated with marketing a new product successfully

Commercializing New Products LEARNING OBJECTIVES Explain the process for commercializing new products Introduction The final phase of the new-product development process focuses on commercializing the new product. This phase includes: Stage 6: Test Marketing Stage 7: Launch Stage 8: Evaluation At last the product is ready to go. It has survived the development process and is now, you… Read More »Commercializing New Products : process for commercializing new products

Creating the Go-to-Market Plan The marketing requirements drive the technical product requirements that will be used to develop the product, but they have a second purpose, too. The market requirements are the major input to the marketing plan that will be used during the product launch. In answering what problem a product solves for the target buyer,… Read More »Creating the Go-to-Market Plan

Developing New Products LEARNING OBJECTIVES Identify methods for developing new product ideas Introduction The second phase of the new-product development process focuses on the actual development of the new product. This phase includes the following: Stage 4: Business Case Analysis Stage 5: Development Making the Business Case The business case is often the most challenging screening process… Read More »Identify methods for developing new product ideas

Creating Successful Product Concepts How can businesses influence the success of the new business idea? Koen suggests a number of factors that play a role: the corporation’s organizational capabilities, customer and competitor influences, the outside world’s influences, and the depth and strength of enabling sciences and technology.[2] Organizational Capabilities You may have noticed that some… Read More »Creating Successful Product Concepts

Generating and Screening Ideas LEARNING OBJECTIVES Identify approaches to generating and screening new product ideas Introduction The first phase of the new product development process is creating a viable product concept that can move through the development phase. This phase includes the following: Stage 1: Generating New Product Ideas Stage 2: Screening Product Ideas Stage 3: Concept… Read More »Generating and Screening New Product Ideas

Overview of the New-Product Development Process LEARNING OBJECTIVES Explain how new products are planned Introduction There are probably as many varieties of new-product development systems as there are types of companies, but most of them share the same basic steps or stages—they are just executed in different ways. Below, we have divided the process into eight stages, grouped into three… Read More »New-Product Development Process

Introduction to New Product Development Process What you’ll learn to do: describe the new-product development process We have considered the role of new products throughout this module. It is important to introduce new products in order to have a balanced portfolio containing products at the various stages of the product life cycle. We have not yet… Read More »New Product Development Process

Role of New Products in the Portfolio New products bring greater risk to the product portfolio but also greater potential reward. The goal of portfolio management is to balance risk in order to create strong performance today and in the future. Though new products can drain resources in the short run, they are positioned to… Read More »Role of New Products in the Portfolio

New Products in the Portfolio LEARNING OBJECTIVES Explain why new products are crucial to an organization’s success Factors Influencing the Pace of Product Development New-product introductions are an important component of the product portfolio. This has always been the case, but there have been a number of changes since 2000 that have increased the pace of… Read More »New Products in the Portfolio : why new products are crucial to an organization’s success

Product-Line Decisions A product line can contain one product or hundreds of products. The number of products in a product line refer to its depth, while the number of separate product lines owned by a company is the product line width. There are two overarching strategies that deal with product line coverage. With a full-line strategy the company… Read More »Product-Line Decisions

Marketing Mix Strategies When a product is introduced, it’s not locked down forever. Marketers continually gather market data about products so they can refine the product and its position in the marketplace. Product Modification It is normal for a product to be changed several times during its life. Certainly, a product should be equal or… Read More »Marketing Mix Strategies

Achieving Portfolio Objectives LEARNING OBJECTIVES Identify marketing strategies and tactics used to achieve portfolio objectives Introduction In our discussion of the product life cycle we saw that competition generally increases as more competitors are drawn to high-growth markets. As more brands enter the marketplace and lock into a particular share of the market, it becomes more difficult to… Read More »Identify marketing strategies and tactics used to achieve portfolio objectives

Organizing for Effective Product Marketing Before we dive into the product portfolio it is important to understand how products are organized in most businesses. Johnson & Johnson has hundreds of products. They sell baby shampoo to new parents and knee systems to surgeons who perform knee-replacement surgeries. Imagine trying to understand all of the different… Read More »Organizing for Effective Product Marketing

The Product Portfolio LEARNING OBJECTIVES Define the product portfolio and explain its use in marketing Throughout this course we have discussed a number of ways that organizations market products successfully. How does an organization decide which products to offer? When should a company add new products, and when should it discontinue existing ones? Product portfolio… Read More »product portfolio and explain its use in marketing

Introduction to Product Portfolio Management What you’ll learn to do: explain product portfolio management and how it relates to the organization’s marketing strategy and tactics Our last example showed the importance of marketing a diverse set of products and using new products to gain strategic advantage. Defining and managing this collection of products is called… Read More »Introduction to Product Portfolio Management

Challenges in the Product Life Cycle LEARNING OBJECTIVES Identify challenges of using the product lifecycle in marketing Introduction In theory, the product life cycle follows a predictable path that is easy to understand. This might suggest that the marketer just needs to gear up for the ride and be ready to adjust tactics as the… Read More »Challenges in the Product Life Cycle

Marketing through the Product Cycle LEARNING OBJECTIVES Explain the unique marketing requirements of each stage There are some common marketing considerations associated with each stage of the PLC. They cannot be used as a formula to guarantee success, but they can function as guidelines for thinking about budget, objectives, and potential opportunities and threats. Keep in mind that we… Read More »Marketing through the Product Cycle

Using the Product Life Cycle The product life cycle can be a useful tool in planning for the life of the product, but it has a number of limitations. Not all products follow a smooth and predictable growth path. Some products are tied to specific business cycles or have seasonal factors that impact growth. For… Read More »Using the Product Life Cycle

Stages of the Product Life Cycle LEARNING OBJECTIVES Identify the stages of the product life cycle A company has to be good at both developing new products and managing them in the face of changing tastes, technologies, and competition. Products generally go through a life cycle with predictable sales and profits. Marketers use the product life… Read More »Stages of the Product Life Cycle

Product Life Cycle What you’ll learn to do: discuss the product life cycle and its implications for marketing We just considered the case of Apple launching a new product (the Apple Watch). A particular set of marketing strategies and tactics was needed to define a product that did not exist, to create it, and introduce… Read More »Product Life Cycle

The Marketing Mix As you can see from the list of responsibilities, the product marketing function is not confined to only one aspect of the marketing mix. Instead, the product marketing function focuses on a single product or product line across the marketing mix. Let’s look at a specific example of the product marketing role and a corporate… Read More »The Marketing Mix

The Role of Product Marketing Product marketing is the function of understanding the target customer’s needs, and promoting and selling the product to the target customer. In many organizations this is a different function from product management, which is responsible for defining the product that the company will build. Obviously the two functions must interact closely,… Read More »The Role of Product Marketing

Product Marketing in the Marketing Mix LEARNING OBJECTIVES Define product marketing Explain the role of product marketing in the marketing mix The Role of Product Marketing Product marketing is the function of understanding the target customer’s needs, and promoting and selling the product to the target customer. In many organizations this is a different function from… Read More »Product Marketing in the Marketing Mix

Augmenting Products with Services LEARNING OBJECTIVES Explain how to augment a product with services Introduction Earlier we touched on “augmented products,” which are tangible products, along with all of the services that support them. When companies devise product strategies and decide whether or not to augment their products with additional services, they typically evaluate whether the following… Read More »Augmenting Products with Services

Products and Services LEARNING OBJECTIVES Identify differences between products that offer goods versus services Goods vs. Services In marketing, are services considered products? Should products that are predominately goods be treated differently than products that are predominantly services? Whether or not there are substantial differences between goods, products, and service products has been the source of… Read More »Products and Services

Consumer Product Categories LEARNING OBJECTIVES Define a product Consumer products are often classified into four groups related to different kinds of buying decisions: convenience, shopping, specialty, and unsought products. These are described below. Convenience Products A convenience product is an inexpensive product that requires a minimum amount of effort on the part of the consumer in order to select… Read More »Consumer Product Categories

Four Levels of the Product There are four levels of a product (shown in the figure below): core, tangible, augmented, and promised. Each is important to understand in order to address the customer needs and offer the customer a complete experience. The Core Product The core product satisfies the most basic need of the customer. For… Read More »Four Levels of the Product

Defining Product LEARNING OBJECTIVES Define a product Introduction A product is a bundle of attributes (features, functions, benefits, and uses) that a person receives in an exchange. In essence, the term “product” refers to anything offered by a firm to provide customer satisfaction, tangible or intangible. Thus, a product may be an idea (recycling) , a physical… Read More »Defining Product

Introduction to Products and Marketing Mix What you’ll learn to do: explain what a product is and the importance of products in the marketing mix We’ll start this module by defining what a product is and seeing how it fits in the marketing mix. When thinking about the target customer’s perspective, it’s useful to have an “expansive”… Read More »what a product is and the importance of products in the marketing mix

Why It Matters: Product Marketing Why learn about product marketing? Often when students begin to study marketing they expect to study promotion or perhaps only advertising, but product is the core of the marketing mix. Product defines what will be priced, promoted, and distributed. If you are able to create and deliver a product that provides exceptional… Read More »Why It Matters: Product Marketing

Putting It Together: Branding Investigating Brand Power As noted earlier in this module, every year organizations conduct analyses and publish lists of the world’s top brands. In 2015, Forbes published a list of the most valuable brands in terms of dollar value. The consultancy Brand Finance analyzed the most powerful brands in terms of the companies’ marketing investment, the… Read More »Putting It Together: Branding

Risks of Brand/Line Extension Zippo Perfume. Brand extension, or dilution? While there can be significant benefits to brand-extension strategies, there can also be significant risks, resulting in a diluted or severely damaged brand image. Poor choices for brand extension may overextend the brand so that it no longer stands for something meaningful and valued by… Read More »Risks of Brand/Line Extension

Lines Extensions and Brand Extensions Organizations use line extensions and brand extensions to leverage and increase brand equity. Diet Coke is a line extension of the Coke brand. A company creates a line extension when it introduces a new variety of offering within the same product category. To illustrate with the food industry, a company might add new flavors, package sizes, nutritional… Read More »Lines Extensions and Brand Extensions

Brand Licensing Brand licensing is the process of leasing or renting the right to use a brand in association with a product or set of products for a defined period and within a defined market, geography, or territory. Through a licensing agreement, a firm (licensor) provides some tangible or intangible asset to another firm (licensee) and… Read More »Brand Licensing

Co-Branding Co-branding is an arrangement in which two established brands collaborate to offer a single product or service that carries both brand names. In these relationships, generally both parties contribute something of value to the new offering that neither would have been able to achieve independently. Effective co-branding builds on the complementary strengths of the existing… Read More »Co-Branding

Branding Strategies A branding strategy helps establish a product within the market and to build a brand that will grow and mature. Making smart branding decisions up front is crucial since a company may have to live with their decisions for a long time. The following are commonly used branding strategies: “Branded House” Strategy A… Read More »Branding Strategies

Managing Brands As Strategic Assets As organizations establish and build strong brands, they can pursue a number of strategies to continue developing them and extending their value to stakeholders (customers, retailers, supply chain and distribution partners, and of course the organization itself). Brand Ownership Steve Jobs, Co-founder and CEO of Apple Who “owns” the brand? The legal owner… Read More »Managing Brands As Strategic Assets

Introduction to Brand Development Strategies What you’ll learn to do: explain key strategies for developing brands including brand ownership, brand and line extensions, co-branding, and licensing Up to this point, this module has explored the important ingredients of creating brands. But once you’ve combined the ingredients and you have a fledgling brand, then what? You need a… Read More »Brand Development Strategies

Creating the Perfect Package Bigelow Tea Rebrand Tea Gift Set by Brielle Wilson. 2015 A’Design Award Winner for packaging design. Source: https://competition.adesignaward.com/design.php?ID=36627 Product packaging is an underappreciated hero in the marketing world. Packaging is supremely functional: it protects the product. It contains the product. It displays the product. It promotes the product. Its design and labeling… Read More »Creating the Perfect Package

Packaging LEARNING OBJECTIVES Discuss the role of packaging in the brand-building process Creating the Perfect Package Bigelow Tea Rebrand Tea Gift Set by Brielle Wilson. 2015 A’Design Award Winner for packaging design. Source: https://competition.adesignaward.com/design.php?ID=36627 Product packaging is an underappreciated hero in the marketing world. Packaging is supremely functional: it protects the product. It contains the product.… Read More »packaging in the brand-building process

Introduction to Packaging What you’ll learn to do: discuss the role of packaging in the brand-building process Imagine yourself standing in the aisle of a grocery store, scanning the shelves and trying to decide which product brand to buy. What catches your eye? What makes you pick something and take a closer look? What influences your… Read More »role of packaging in the brand-building process

Introduction to Name Selection What you’ll learn to do: explain the importance of name selection in the success of a brand How important is naming in the success of a brand? Very important. Consider the function of a brand name: It identifies a product, service, or company and differentiates it from competitors. But it does much more… Read More »Introduction to Name Selection

Aligning to Deliver the Brand  It takes strong focus and hard work to get through the brand-positioning process and build a brand platform. But once this work is done, brand managers and marketers have a basis for deciding what they want to achieve with the brand. Next, the fun of brand building can begin. Because brand encompasses much… Read More »Aligning to Deliver the Brand 

Brand Positioning: A Tool for Achieving Consistency The Brand Platform As you learned in the previous module, product positioning is an important strategic tool that helps organizations focus their messages and marketing activities around a consistent, differentiating message aimed at a target segment. Brand positioning works on the same principle. The goal of brand positioning—like the positioning for any product… Read More »Brand Positioning: A Tool for Achieving Consistency

Building Strong Brands: Consistency Matters In order to make an impression in a market, brands need to stand for something. Inconsistent brands and messages fail to make a lasting impression because it is difficult for customers to trust them or register what these brands represent. On the other hand, when a brand is both consistent and relevant… Read More »Building Strong Brands: Consistency Matters

Brand Positioning and Alignment LEARNING OBJECTIVES Explain the concept of brand positioning Discuss common techniques that marketers use to achieve strong brand positioning and alignment Building Strong Brands: Consistency Matters In order to make an impression in a market, brands need to stand for something. Inconsistent brands and messages fail to make a lasting impression because… Read More »techniques that marketers use to achieve strong brand positioning and alignment

Introduction to Brand Positioning and Alignment What you’ll learn to do: explain how marketers use brand positioning to align marketing activities and build successful brands It is clear that brands are valuable assets that benefit organizations and their customers. Building brand loyalty is an important goal for marketers. But what does it take to build… Read More »how marketers use brand positioning to align marketing activities and build successful brands

Building Brand Loyalty One of the most important reasons for building brand equity is to win brand-loyal customers. In marketing, brand loyalty refers to a consumer’s commitment to repurchase or otherwise continue using a particular brand by repeatedly buying a product or service. The American Marketing Association defines brand loyalty in the following ways: The situation in… Read More »Building Brand Loyalty

Measuring Brand Equity Brand equity is strategically important but also difficult to measure (or “quantify”). As a result, many experts have developed tools or metrics to analyze brand equity, although there is no universally accepted way to measure it. For example, while it can be measured quantitatively using numerical values such as profit margins and… Read More »Measuring Brand Equity

Brand Equity LEARNING OBJECTIVES Explain the concept of brand equity Discuss why and how marketers measure brand equity In marketing, brand equity refers to the value of a well-known brand that conjures positive (or negative) mental and emotional associations. What does this actually mean? Let’s do a experiment with brand equity in action. Which brands do… Read More »Brand Equity

Brand Equity LEARNING OBJECTIVES Explain the concept of brand equity Discuss why and how marketers measure brand equity In marketing, brand equity refers to the value of a well-known brand that conjures positive (or negative) mental and emotional associations. What does this actually mean? Let’s do a experiment with brand equity in action. Which brands do… Read More »why and how marketers measure brand equity

Introduction to Brand Equity What you’ll learn to do: define brand equity and its role in measuring brand strength When most people see the Nike swoosh, what makes them think, “Just Do It!”? When kids see Mickey Mouse ears, what makes them think, “Disneyland”? When fans see the international soccer logo, FIFA, what makes them think of corrupt officials and financial… Read More »brand equity and its role in measuring brand strength

Types of Brands LEARNING OBJECTIVES Describe different types of brands There Are Many Types of Brands Many kinds of things can become brands. Different types of brands include individual products, product ranges, services, organizations, individual persons, groups, events, geographic places, private label brands, media, and e-brands. Individual Brands The most common type of brand is a… Read More »different types of brands

Brands Create Value Brands create value for consumers and organizations in a variety of ways. Benefits of Branding for the Consumer The Dunkin’ Donuts logo, which includes an image of a DD cup of coffee, makes it easy to spot anywhere. The coffee is known for being a good value at a great price. Brands… Read More »Brands create value for consumers and organizations in a variety of ways

Brands Create an Experience Effective branding encompasses everything that shapes the perception of a company or product in the minds of customers. Names, logos, brand marks, trade characters, and trademarks are commonly associated with brand, but these are just part of the picture. Branding also addresses virtually every aspect of a customer’s experience with a… Read More »Brands Create an Experience

Brands Create Market Perceptions A successful brand is much more than just a name or logo. As suggested in one of the definitions above, brand is the sum of perceptions about a company or product in the minds of consumers. Effective brand building can create and sustain a strong, positive, and lasting impression that is difficult… Read More »Brands Create Market Perceptions

History of Branding The word “brand” is derived from the Old Norse brand meaning “to burn,” which refers to the practice of producers burning their mark (or brand) onto their products. Italians are considered among the first to use brands in the form of watermarks on paper in the 1200s. However, in mass-marketing, this concept originated in… Read More »History of Branding

What Is a Brand? As we start our exploration of brand and its role in marketing, take a few minutes to watch the following video about Coca-Cola, which is perhaps one of the most iconic brands of all time. As you watch this video, look and listen for the all the different elements that contribute to… Read More »What Is a Brand?

Introduction to Elements of Brand What you’ll learn to do: describe the elements of brand and how brands add value to an organization’s products and services If you walk through a parking lot at school, work, or the local mall, chances are good that you could identify all the car brands just by looking at hood emblems. When you… Read More »the elements of brand and how brands add value to an organization’s products and services

Why It Matters: Branding Why learn about branding? Pop Quiz! Instructions: Grab a piece of paper and jot down answers to the following questions: What is your favorite brand of clothing? Why is it your favorite? List a word or phrase that describes how this brand makes you feel: What is your favorite brand of car? Why… Read More »Why It Matters: Branding

Putting It Together: Positioning Positioning Your Way Out of Obscurity Let’s get back to the challenge that started this module: how to position and differentiate a company in a crowded field of competitors. You’ll recall that you have a swell job at a newish events management company called Shindiggity. The company is struggling to find ways… Read More »Putting It Together: Positioning

Introduction to Implementing a Positioning Strategy What you’ll learn to do: describe the process of implementing a positioning strategy With your new positioning strategy and a well-formulated positioning statement, you are poised to take action. But . . . how, exactly? What comes next is more familiar than you might think: You head back to the fundamentals of… Read More »Introduction to Implementing a Positioning Strategy

Repositioning LEARNING OBJECTIVES Explain repositioning and the associated risks and complexities of repositioning a product or service When It’s Time to Change Direction After they are initially introduced to the market, products, services, and brands are constantly being repositioned as a result of changes in competitive and market situations. Repositioning involves changing the market’s perceptions of… Read More »Repositioning

Introduction to Repositioning What you’ll learn to do: explain repositioning and the associated risks and complexities of repositioning a product or service Positioning is a powerful tool, but when you position a product, service, or brand, the world doesn’t stand still. Market conditions change. Your customers and competitors change. You change. Positioning should be designed to… Read More »Introduction to Repositioning

Introduction to Developing Positioning Statements What you’ll learn to do: develop and evaluate positioning statements based on defined criteria After marketers work through the process of homing in on the best positioning strategy, they arrive at the final step: the positioning statement. The positioning statement reflects everything you’ve learned up to that point about how your… Read More »Developing Positioning Statements

The Positioning Process LEARNING OBJECTIVES Explain the concept of competitive advantage and how it relates to positioning strategy Differentiate between product features and benefits Explain positioning (perceptual) maps Identify common positioning strategies Getting to the Right Position Arriving at the best positioning and differentiation strategy involves a process. The goal of the process is to design… Read More »The Positioning Process

Introduction to the Positioning Process What you’ll learn to do: explain the process of selecting a positioning and differentiation strategy Positioning and differentiation are powerful tools to help you establish the market position you want for your product or service. In this section you’ll learn how various positioning approaches work for different target segments and how to… Read More »the process of selecting a positioning and differentiation strategy

Introduction to Defining Positioning and Differentiation What you’ll learn to do: define product positioning and differentiation, and explain why they are important to marketing a product or service Positioning addresses an important question: What do you want to be known for? Positioning provides the basic foundation for effectively marketing any product or service to a target audience.… Read More »Introduction to Defining Positioning and Differentiation

Why It Matters: Positioning Why learn about positioning? Ever since you were small, you have loved special occasions and gatherings. It started with sprawling extended-family picnics when you were a child. From there, you graduated to bigger and more elaborate events: attending fairs and grand openings, crashing weddings and voter conventions, wandering through business expositions… Read More »Why It Matters: Positioning

Putting It Together: Consumer Behavior Applying the Concepts: Finn’s Family Buys a Pet Do you remember Finn, the newest little consumer who arrived at the beginning of this module? Let’s suppose that Finn’s parents decide they want him to grow up with an animal friend. This gives us a chance to apply what we’ve been discussing about consumer… Read More »Putting It Together: Consumer Behavior

The Organizational Buying Process LEARNING OBJECTIVES Explain the B2B purchasing decision process Making B2B Buying Decisions The organizational buying process contains eight stages, which are listed in the figure below. Although these stages parallel those of the consumer buying process, there are important differences that have a direct bearing on the marketing strategy. The complete… Read More »The Organizational Buying Process

Introduction to B2B Purchasing Decisions What you’ll learn to do: explain the B2B buying process and factors influencing B2B purchasing decisions Up to this point, our discussion about decision making has focused on individual consumers (B2C). Next we will shift attention to the decision making of businesses and other organizations when they are considering what to… Read More »Organizational Buyer Behavior & B2B Purchasing Decisions

Social Factors LEARNING OBJECTIVES Describe social factors that influence what and when consumers buy People Influencing People Social factors represent another important set of influences on consumer behavior. Specifically, these are the effects of people and groups influencing one another through culture and subculture, social class, reference groups, and family. Culture A person’s culture is represented by a large… Read More »social factors that influence what and when consumers buy

Psychological Factors LEARNING OBJECTIVES Describe psychological factors that influence what and when consumers buy Consumer Decisions and the Workings of the Psyche When we talk about psychological factors that influence consumer decisions, we are referring to the workings of the mind or psyche: motivation, learning and socialization, attitudes and beliefs. Motivation A motive is the inner… Read More »psychological factors that influence what and when consumers buy

Personal Factors LEARNING OBJECTIVES Describe personal factors that influence what and when consumers buy In addition to situational factors, there are also individual traits and characteristics that can shape purchasing decisions. These include things like demographics, life stage, lifestyle, and personality. Demographics Demographics are an important set of factors that marketers should not overlook when… Read More »personal factors that influence what and when consumers buy

Situational Factors LEARNING OBJECTIVES Describe situational factors that influence what and when consumers buy Buying Task The buying task refers to the consumer’s approach to solving a particular problem and how much effort it requires. The level of consumer involvement is an important part of the buying task: whether the buyer faces a high-involvement decision… Read More »situational factors that influence what and when consumers buy

Introduction to Factors Influencing Consumer Decisions The consumer decision process helps you understand the steps people go through when they are deciding whether and what to buy. Many different factors can influence the outcomes of purchasing decisions. Some of these factors are specific to the buying situation: what exactly you are buying and for what occasion. Other… Read More »Factors Influencing Consumer Decisions

Introduction to Low-Involvement vs. High-Involvement Decisions What you’ll learn to do: explain the different buying processes for low-involvement and high-involvement decisions In our discussion of the consumer decision process, we noted that not all purchasing decisions go through all six stages of the process. Some consumer decisions are quick and easy, requiring little if any focused attention.… Read More »different buying processes for low-involvement and high-involvement decisions

The “Black Box” of Consumer Behavior LEARNING OBJECTIVES Describe theories of consumer decision-making The relationship between the customer (also called the buyer) and the provider (the seller) forms through a phenomenon called a market exchange. During the exchange process, each party assesses the relative trade-offs they must make to satisfy their respective needs and wants. On the part of… Read More »The “Black Box” of Consumer Behavior

Introduction to Buying Process Stages What you’ll learn to do: describe the stages of the buying process Take a moment to think about the last time you bought something. What factors played a role in your decision to buy? What process did you go through on the way to deciding? Were you on autopilot, or… Read More »Buying Process Stages

Why It Matters: Consumer Behavior Why learn about consumer behavior? Please welcome a new arrival At 1:26 a.m. this morning, in Houston’s Memorial Hermann Hospital, a consumer was born. His name is Finnegan Henry James. By the time he goes home three days later, some of America’s biggest marketers will be pursuing him with samples, coupons, and assorted freebies. Proctor &… Read More »Why It Matters: Consumer Behavior

Putting It Together: Marketing Information and Research Back to Bookends Let’s pay Uncle Dan and his bookstore another visit, now that you’re a little further along in your understanding of marketing research. You’ll remember that you and Dan conducted both primary and secondary research to get a handle on who Bookends’ customers are—and who they… Read More »Putting It Together: Marketing Information and Research

Introduction to Using Marketing Information What you’ll learn to do: use marketing information to inform the marketing strategy After you work through the process of identifying a problem, collecting and analyzing the best marketing information available, you arrive at the moment you’ve been waiting for: You can use this information to guide your decisions about marketing… Read More »use marketing information to inform the marketing strategy

Using Marketing Information LEARNING OBJECTIVES Explain and provide examples of how marketers can use marketing information to improve the marketing mix Translating Marketing Information into Action With marketing information and research results collected, it’s now the responsibility of marketers to share this information internally with people who need to understand it. It’s standard practice to… Read More »Using Marketing Information

Customer Relationship Management Systems LEARNING OBJECTIVES Define CRM systems and explain their purpose Describe the types of marketing information CRM systems can capture and why it is valuable for generating customer insights Marketing Information and Customer Relationship Management (CRM) Earlier in this course, we cited the American Marketing Association’s definition of customer relationship management: “a discipline in marketing… Read More »Customer Relationship Management Systems

Introduction to Customer Relationship Management (CRM) Systems What you’ll learn to do: explain how customer relationship management (CRM) systems can help organizations manage and gain customer insights from marketing information To round out our discussion of marketing information and research, we need to add one more important tool to the mix: customer relationship management (CRM) systems.… Read More »Introduction to Customer Relationship Management (CRM) Systems

Introduction to Marketing Data Sources What you’ll learn to do: identify major sources of available marketing data Marketing information and research are powerful tools to improve your understanding of your customers, competitors, and the industry and market in which you work. In today’s information-rich world, many great sources of marketing data are already available. Knowing… Read More »Introduction to Marketing Data Sources

Quantitative Research Methods The most common quantitative marketing research methods are surveys and experimental research. Each is explained below. Survey Research Survey research is a very popular method for collecting primary data. Surveys ask individual consumers to give responses to a questionnaire. Questions may cover a variety of topics, but the question topics, format, response options,… Read More »Quantitative Research Methods

Qualitative Research Methods Typical qualitative methods include behavioral observation, in-depth interviews, focus groups, and social listening. Each of these methods is described below. Focus Groups Focus groups are much like in-depth interviews, except that they involve small groups (usually 6–12 individuals) rather than one person at a time. Like in-depth interviews, focus groups also try to… Read More »Qualitative Research Methods : Focus Groups

Qualitative Research Methods Typical qualitative methods include behavioral observation, in-depth interviews, focus groups, and social listening. Each of these methods is described below. In-Depth Interviews In-depth interviews give marketing researchers the opportunity to delve deeply into topics of interest with the individuals they want to understand better. Research projects that use this method typically involve a… Read More »Qualitative Research Methods : In-Depth Interviews

Qualitative Research Methods Typical qualitative methods include behavioral observation, in-depth interviews, focus groups, and social listening. Each of these methods is described below. Observation Observation may be the oldest method of primary research. Since the beginning of commerce, merchants have been watching their customers and non-customers engage in a variety of behaviors. Examples include information-gathering, shopping,… Read More »Qualitative Research Methods : Observation

Choosing the Right Primary Research Method When secondary research doesn’t provide all the answers, marketers often turn to primary research, which involves data collection that’s tailored to the specific problem or challenge you’re trying to address. There are many ways to conduct primary research. Which approach to take depends on the type of information you… Read More »Choosing the Right Primary Research Method

Primary Marketing Research Methods LEARNING OBJECTIVES Describe primary research methods and the types of information they yield Explain the pros and cons of in-person, telephone, and online research methods Choosing the Right Primary Research Method When secondary research doesn’t provide all the answers, marketers often turn to primary research, which involves data collection that’s tailored to… Read More »Primary Marketing Research Methods

Secondary Marketing Research LEARNING OBJECTIVES Describe secondary market research and the types of insights it produces Tapping Existing Sources of Information Before diving into primary research for a marketing research project, it’s always wise to investigate whether there’s an existing body of relevant information that you can work with. It’s at least a place to… Read More »Secondary Marketing Research

Introduction to Marketing Research Techniques What you’ll learn to do: recognize alternative techniques for conducting marketing research, including primary and secondary research methods The five-step marketing research process provides a well-structured approach to follow any time you have a marketing problem that research can help you solve. What type(s) of research you conduct depends on the kind… Read More »Introduction to Marketing Research Techniques

The Marketing Research Process LEARNING OBJECTIVES Identify the steps of conducting a marketing research project A Standard Approach to Research Inquiries Marketing research is a useful and necessary tool for helping marketers and an organization’s executive leadership make wise decisions. Carrying out marketing research can involve highly specialized skills that go deeper than the information outlined… Read More »The Marketing Research Process

Introduction to the Marketing Research Process What you’ll learn to do: outline a standard process for using marketing information and research to address an organization’s strategic questions Marketers can glean powerful insights from marketing information, but these insights generally don’t come from nowhere. Instead, it takes a well-structured research process to identify what you are trying to understand… Read More »Introduction to the Marketing Research Process

Marketing Research Marketing research is a systematic process for identifying marketing opportunities and solving marketing problems, using customer insights derived from the collection and analysis of marketing information. Marketing research identifies the problem to be solved or the opportunity to be explored, as well as the information required to address research questions. It also involves processes for… Read More »Marketing Research

Competitive Intelligence Competitive intelligence is marketing information that helps marketers and other members of an organization better understand their competitors and competitive market dynamics. Common types of competitive intelligence include the following: Product information: Who is making products that compete with your offerings? What features or capabilities make these products attractive to prospective customers? How do… Read More »Competitive Intelligence

Types of Marketing Information LEARNING OBJECTIVES Explain the types of insights provided by each type of marketing information Describe how organizations manage marketing information Illuminating the Marketing Picture There are three primary types of marketing information marketers use to gain insights that will contribute to wise marketing choices: internal data, competitive intelligence, and marketing research. Internal Data Internal data consists… Read More »Types of Marketing Information

Introduction to Types of Marketing Information What you’ll learn to do: describe key types of marketing information including internal data, competitive intelligence, and marketing research Marketing information and research are most effective when they feed an ongoing awareness of what’s happening with customers, their perceptions, and purchasing decisions. The next section of this module explores different… Read More »Introduction to Types of Marketing Information

Case Study: Juicy Fruit Gum LEARNING OBJECTIVES Explain why organizations use marketing information to provide customer insights Discovering Why They Chew Back in the nineties, Juicy Fruit Gum, the oldest brand of the Wm. Wrigley Jr. Company, was not chewing up the teen market, gum’s top demographic. In 1997, the company found itself under pressure… Read More »Case Study: Juicy Fruit Gum

The Importance of Marketing Information and Research LEARNING OBJECTIVES Define marketing information Explain why organizations use marketing information to provide customer insights Fresh Customer Insights Effective marketing starts with a strong knowledge of your customers: the kind of knowledge that gives you unique insights into what they want and how to satisfy them better than the… Read More »The Importance of Marketing Information and Research

Introduction to Importance of Marketing Information What you’ll learn to do: explain the role of marketing information in helping organizations understand and reach customers Marketers are fortunate to work in an information-rich environment. They don’t have to make decisions based on gut feeling or blind luck. These days, many valuable sources of marketing information are available to… Read More »Introduction to Importance of Marketing Information

Why It Matters: Marketing Information and Research Why learn about marketing information and research? Your uncle Dan owns an independent bookstore called Bookends in Seattle, Washington. You drop in to see him whenever you’re in the neighborhood to catch up and borrow some graphic novels. (That’s you in the picture.) When you visit this time, Dan sits you down in a… Read More »Why It Matters: Marketing Information and Research

Putting It Together: Ethics and Social Responsibility In this module we’ve covered a range of different corporate ethical challenges, legal requirements, and opportunities to contribute to social good. Every year, a company called Ethisphere provides a through review of businesses seeking to gain recognition for being upstanding corporate citizens. (See the full list of honorees.) The review… Read More »Putting It Together: Ethics and Social Responsibility

Social Responsibility Initiatives LEARNING OBJECTIVES Identify examples of social responsibility that create value for customers Explain the impact of social responsibility on marketing results The Business Case for Social Responsibility Regardless of broader benefits, there is a strong business case for social responsibility. Public companies’ stock prices benefit from strong social responsibility initiatives. In 2013,… Read More »Social Responsibility Initiatives

Social Responsibility in the Marketing Strategy LEARNING OBJECTIVES Identify examples of social responsibility that create value for customers Explain the impact of social responsibility on marketing results You’ll recall that we defined corporate social responsibility as the ethical behavior of a company toward society. It means acting responsibly toward the stakeholders—not just the shareholders—who have a legitimate interest… Read More »Social Responsibility in the Marketing Strategy

Introduction to Social Responsibility Marketing Impact What you’ll learn to do: explain how demonstrating corporate social responsibility can impact marketing We have reviewed many ethical challenges and potential traps for marketers. How can a marketer win? Actually, in lots of ways. Increasingly, marketers are doing more than just trying to avoid doing harm; as you’ll… Read More »Introduction to Social Responsibility Marketing Impact

Ethics for Marketing Employees LEARNING OBJECTIVES Describe how companies manage ethical behavior of marketing employees If you are hired to work in marketing at a typical company, there will likely be clear ethical standards defined in a company policy and some level of compliance among employees at all levels in the company. You will witness ethical breaches… Read More »Ethics for Marketing Employees

Executive Role in Ethics LEARNING OBJECTIVES Identify the unique ethical considerations and roles for company executives Consider the following observation by the ECI on the results of the National Business Ethics survey: Managers–those expected to act as role models or enforce discipline–are responsible for a large share of workplace misconduct (60 percent) and senior managers are more… Read More »Executive Role in Ethics

Introduction to Ensuring Ethical Marketing and Sales What you’ll learn to do: describe measures companies take to encourage ethical behavior Ethical issues arise at both an organizational level and an individual level. A single individual can engage in unethical behavior, but most ethical breaches that have significant impact on a business occur when many individuals… Read More »Introduction to Ensuring Ethical Marketing and Sales

Gifts and Bribes LEARNING OBJECTIVES Describe the risks associated with customer gifts and bribes Gift giving in business is commonplace and contentious at the same time. Business gifts are usually seen as an advertising, sales-promotion, and marketing-communication medium.[1] Such gifting is usually practiced for the following reasons: In appreciation for past client relationships, placing a new order,… Read More »Gifts and Bribes

The Challenge of Monitoring Ethics in B2B Marketing Imagine that Banana Republic, the retail clothing store, wants to launch a new promotion with a significant price discount. Banana Republic sells to consumers, which makes it a B2C company. Before the promotion is announced, the corporate marketing team will analyze the pricing discount. The Web site… Read More »The Challenge of Monitoring Ethics in B2B Marketing

Ethics in B2B Marketing LEARNING OBJECTIVES Explain how B2B marketing creates unique ethical risks and challenges You will recall that business-to-business (B2B) marketing differs from business-to-consumer (B2C) marketing in key ways. B2B marketers sell to other businesses or institutions, which then consume the product as part of their business operations or use the product in… Read More »Ethics in B2B Marketing

Product Liability LEARNING OBJECTIVES Explain product liability and its impact on marketing Introduction Product liability is the legal liability a manufacturer or trader incurs for producing or selling a faulty product. There is not a single federal law or code that covers all product liability. Fourteen states have adopted the Uniform Commercial Code, which governs business… Read More »Product Liability

Corporate Social Responsibility LEARNING OBJECTIVES Explain the role of social responsibility in marketing So far we have focused on ethical dilemmas in terms of risk. If a company acts unethically, it risks damaging its reputation and its customers’ trust—worse, it can face lawsuits and criminal prosecution. In this section we’ll discuss one of the ways in which… Read More »Corporate Social Responsibility

New Challenges in Marketing Ethics LEARNING OBJECTIVES Identify ethical issues introduced through new marketing channels New marketing channels create opportunities for new tactics, but sometimes these developments bring new ethical challenges. Eventually society may establish what is acceptable behavior and what is not, but that process takes time. In the following blog post, marketer Augie Ray explains… Read More »New Challenges in Marketing Ethics

Common Ethical Issues in Marketing LEARNING OBJECTIVES Identify common ethical issues and their impact on individuals and organizations Consider the following business situation: You’re a member of the marketing team for a B2B company that sells software to restaurants. Your product is a point-of-sale system that manages orders, menus, and staff scheduling. While it generally works well,… Read More »Common Ethical Issues in Marketing

Defining Ethics LEARNING OBJECTIVES Define ethics in the context of marketing Ethics is the set of moral principles or values that guides behavior. There is a general recognition that many, if not most, business decisions involve some ethical judgment. Each party in a marketing transaction brings a set of expectations regarding how the business relationship will… Read More »Defining Ethics

Introduction to Ethical Marketing Issues What you’ll learn to do: describe the types of ethical and social responsibility issues that marketing must address We will begin by introducing definitions to clarify ethical terms and then turn to the issues that marketing professionals most often encounter. If you’ve taken other business courses, you’ve probably studied business ethics and have… Read More »Introduction to Ethical Marketing Issues

Why It Matters: Ethics and Social Responsibility Why learn about ethics and social responsibility? Generally speaking, students believe that there are two primary reasons to act ethically: Acting ethically is the right thing to do from a moral perspective; If you act unethically, then you might get caught and be punished. Neither of these is a bad reason… Read More »Why It Matters: Ethics and Social Responsibility

Putting It Together: Marketing Strategy Since Southwest Airlines is a familiar example by now, let’s do a more complete review of its strategy to help with your assignments in this course. In this module we have focused on the following aspects of marketing planning: Evaluate marketing strategies for alignment with the organization’s corporate strategies Show how… Read More »Putting It Together: Marketing Strategy

Customer-Relationship Strategies and Management LEARNING OBJECTIVES Describe how businesses use buyer personas to better understand the target customer Define customer relationship management A situation analysis can reveal whether a company’s relationship with customers is a strength to be exploited or a weakness that needs to be addressed. In many cases it’s a bit of both.… Read More »Customer-Relationship Strategies and Management

Introduction to Customer Relationships What you’ll learn to do: explain how the development and maintenance of customer relationships are an essential part of an organization’s marketing strategy If you are getting the impression that an organization’s planning around marketing strategy, tactics, and objectives is very complex, you are perceptive. There are a lot of variables… Read More »how the development and maintenance of customer relationships

Diversification Example LEARNING OBJECTIVES Give some examples of corporate strategies Disney Diversification: create new opportunities by creating new products that will be introduced in new markets Disneyland Toontown When you hear the word Disney, what comes to mind? Many people think of Disney movies such as Cinderella and Beauty and the Beast or theme parks like Disneyland and Disney World. Disney’s product… Read More »Diversification Example : create new opportunities by creating new products that will be introduced in new markets

Product Development Example LEARNING OBJECTIVES Give some examples of corporate strategies Nissan Motors Product development: create new products that can be sold in existing markets Nissan was the first major automaker to commit to the mass production of an electric vehicle (EV). In 2008, it made good on its promise with the launch of the Nissan Leaf. Industry analysts… Read More »Product Development Example : create new products that can be sold in existing markets

Market Development Example LEARNING OBJECTIVES Give some examples of corporate strategies Poached Jobs Market development: use existing products to capture new markets Together, the hospitality industry, restaurants, and hotels account for 14 million jobs across the U.S., but the industry has a crushing 65 percent job-turnover rate. That means that, in a single year, there… Read More »Market Development Example

Market Penetration Example LEARNING OBJECTIVES Give some examples of corporate strategies Under Armour Under Armour promotes its products through sponsorship agreements with celebrity athletes, professional teams, and college athletic teams. Market penetration: focus on current products and current markets in order to increase market share Market penetration requires strong execution in pricing, promotion, and distribution in order to grow… Read More »Market Penetration Example

Introduction to Examples of Corporate Strategies What you’ll learn to do: give some examples of corporate strategies It can be challenging to get a handle on an abstract concept like “corporate strategy” unless you can see what it means in the context of a real business. The goal of this section is to deepen your understanding of corporate strategies—particularly… Read More »Introduction to Examples of Corporate Strategies

Strategic Opportunity Matrix LEARNING OBJECTIVES Explain how businesses use the strategic growth matrix to inform growth strategies The last strategic framework that we will consider is the strategic opportunity matrix (sometimes called the Ansoff matrix, named after its creator, Igor Ansoff). Whereas the SWOT analysis can help organizations identify new market and new product opportunities (it’s the “O” in SWOT), the strategic… Read More »how businesses use the strategic growth matrix to inform growth strategies

BCG Matrix LEARNING OBJECTIVES Explain how businesses use the Boston Consulting Group matrix to inform growth strategies Purpose When a company has many different products or even many different lines of business, strategy becomes more complex. The company not only needs to complete a situation analysis for each business, but also needs to determine which businesses… Read More »Boston Consulting Group matrix to inform growth strategies

SWOT Analysis LEARNING OBJECTIVES Conduct a SWOT analysis and describe how it informs the organization’s marketing strategy A situation analysis is often referred to by the acronym SWOT, which stands for strengths, weaknesses, opportunities, and threats. Essentially, a SWOT analysis is an examination of the internal and external factors that impact the organization and its strategies. The internal factors are strengths… Read More »SWOT analysis and describe how it informs the organization’s marketing strategy

Introduction to Strategic Planning Tools What you’ll learn to do: show how common analytic tools are used to inform the organization’s strategy When a company is developing its strategy, it is faced with a vast array of considerations and choices. It needs to take into account its resources and capabilities, the strength of existing customer relationships, the competitive landscape, the… Read More »Introduction to Strategic Planning Tools

Evaluating Marketing Results LEARNING OBJECTIVES Discuss the role of budget, implementation, and evaluation in the marketing strategy No marketing program is planned and implemented perfectly. Marketing managers will tell you that they experience many surprises during the course of their activities. In an effort to ensure that performance goes according to plans, marketing managers establish… Read More »Evaluating Marketing Results

Implementation and Budget LEARNING OBJECTIVES Discuss the role of budget, implementation, and evaluation in the marketing strategy Implementation Even a well-designed marketing program that has been through a thorough evaluation of alternatives will fail if it’s poorly implemented. Implementationinvolves the tactics used to execute the strategy. It might include such things as determining where to promote the product,… Read More »Implementation and Budget :role of budget, implementation, and evaluation in the marketing strategy

Optimizing the Marketing Mix LEARNING OBJECTIVES Describe how a marketing strategy optimizes the marketing mix With a clear understanding of the corporate objectives, marketers must decide which strategies and tactics will best align with and support them. This is rarely a simple decision. Markets are constantly changing, and buyer behavior is very complex. The marketer must evaluate… Read More »Optimizing the Marketing Mix

Creating the Marketing Strategy LEARNING OBJECTIVES Identify the inputs to the marketing strategy Inputs That Inform Marketing Strategy To a great extent, developing the marketing strategy follows the same sequence of activities used to define the corporate strategy. The chief difference is that the marketing strategy is directly affected by the corporate strategy, as well as by the other… Read More »Creating the Marketing Strategy

Introduction to Marketing Strategy Mechanics What you’ll learn to do: explain the inputs and components of a marketing strategy The company strategy and objectives provide direction for the whole company, but they don’t specify how the company will get the most benefit from marketing resources and capabilities. That is the role of the marketing strategy.… Read More »Introduction to Marketing Strategy Mechanics

Strategy and Objectives LEARNING OBJECTIVES Define strategy, tactics, and objectives Describe how to align mission, strategy, and objectives Explain the role of marketing strategy in corporate strategy The Need for Objectives As we discussed before, a business strategy must take into account the changing environment and identify a plan that will use the company’s resources most… Read More »Strategy and Objectives: role of marketing strategy in corporate strategy

The Mission Statement LEARNING OBJECTIVES Describe how to align mission, strategy, and objectives Explain the role of marketing strategy in corporate strategy A Mission Statement Explains Why an Organization Exists The mission statement guides the corporate strategy, which, in turn, guides the marketing strategy and planning. All marketing activities should relate to and support the company’s mission.… Read More »The Mission Statement

Strategy and Tactics LEARNING OBJECTIVES Define strategy, tactics, and objectives A strategy is a directed course of action to achieve an intended set of goals.[1]  A tactic is the means by which a strategy is carried out. [2] Strategy answers the following four questions: Where do we compete? What unique value do we bring to customers? How… Read More »Strategy and Tactics

Introduction to Marketing Strategy Alignment What you’ll learn to do: evaluate how marketing strategies align with corporate strategies Most of this course will focus on elements of the marketing strategy and the different tactics organizations use to execute the strategy. How do you know if you have the right marketing strategy? Every organization has a… Read More »how marketing strategies align with corporate strategies

Why It Matters: Marketing Strategy Why learn about marketing strategy? In this module you’ll learn about the important role that marketing strategy plays in supporting corporate strategy. When a company has a mission and a set of corporate-level objectives, the marketing strategy must support those goals, which is perhaps the most important lesson that the following… Read More »Why It Matters: Marketing Strategy

Putting It Together: Segmentation and Targeting Remember Chumber, your new employer from the beginning of this module? Now that you’ve learned something about segmentation and targeting strategy, let’s return to the request your boss made for recommendations about whom Chumber ought to target and why. Remember that Chumber’s product is an automated, fully online system… Read More »Putting It Together: Segmentation and Targeting

Case Study: Red Bull Wins the “Extreme” Niche LEARNING OBJECTIVES Explain how targeting influences each element of the marketing mix Background Red Bull is an Austria-based company started in 1987 by Dietrich Mateschitz that sells one product: an energy drink containing taurine (an amino acid) that’s sold in a slim, silver-colored 8.3-ounce can (shown at the… Read More »Case Study: Red Bull Wins the “Extreme” Niche

Mass Marketing Mass marketing, also called undifferentiated marketing, involves marketing to the entire market the same way. Mass marketing effectively ignores segmentation and instead generates a single offer and marketing mix for everyone. The market is treated as a homogeneous aggregate. Mass marketing aims to reach the largest audience possible, and exposure to the product is maximized. In… Read More »Mass Marketing

Differentiated Marketing A differentiated marketing strategy is one in which the company decides to provide separate offerings to each different market segment that it targets. It is also called multisegment marketing. Each segment is targeted in a particular way, as the company provides unique benefits to different segments. The goal is to help the company increase sales… Read More »Differentiated Marketing

Niche Marketing Niche marketing (also called concentrated marketing) is a strategy that targets only one or a few very defined and specific segments of the consumer population. The goal is to achieve high penetration among the narrowly defined target segments. For example, the manufacturer of Rolex watches has chosen to concentrate on only the luxury segment of the… Read More »Niche Marketing

Local marketing is a targeting strategy focused expressly on a small, clearly defined neighborhood or geographic area. Organizations using this technique strive to generate a strong local presence, and targets may include any person or organization within that small area. A weekly produce share from Suzie’s Farm, a CSA in California Groupon and Amazon Local are excellent examples… Read More »Local marketing 

Targeting Strategies and the Marketing Mix LEARNING OBJECTIVES Explain how targeting influences each element of the marketing mix Using the Marketing Mix to Reach Target Segments Once target segments are identified, the marketing manager selects a targeting strategy that will be the best fit for reaching them. Targeted marketing enables the marketing and sales teams to customize their message… Read More »Targeting Strategies and the Marketing Mix

Introduction to Targeting and the Marketing Mix What you’ll learn to do: explain how targeting influences each element of the marketing mix Segmentation helps you decide who your target customers are, while targeting helps you zero in on the best method for reaching them. Your targeting strategy helps you set priorities for making an impact on your… Read More »how targeting influences each element of the marketing mix

Case Study: eHarmony Targets Women LEARNING OBJECTIVES Explain the process of deciding which customer segments to target for marketing activities Segmentation Success: A Dating Web Site for Women When it was launched in 2000, eHarmony quickly made its mark as a new brand and new category in the online dating landscape: a dating site for the… Read More »Case Study: eHarmony Targets Women

Choosing a Segmentation Approach and Target Segments LEARNING OBJECTIVES Explain the process of selecting an appropriate segmentation approach Explain the process of deciding which customer segments to target for marketing activities Conducting a Market Segmentation As you have seen, there are many different ways a company can segment its market, and the optimal method varies from one product… Read More »Choosing a Segmentation Approach and Target Segments

Introduction to Segmentation Decisions What you’ll learn to do: explain the process of selecting an appropriate segmentation approach and deciding which customer segments to target for marketing activities Now that you’ve learned about common segmentation approaches, how do you know when to apply them? When is geographic segmentation a better fit than demographic segmentation? When should… Read More »process of selecting an appropriate segmentation approach

Segmentation Criteria and Approaches LEARNING OBJECTIVES Describe common segmentation approaches Common Approaches to Market Segmentation Segmentation starts by identifying all the potential buyers for your product: individuals with the need and the means to buy what you offer. In most cases, this represents a large universe of people or organizations that are similar in some ways but… Read More »Segmentation Criteria and Common Approaches to Market Segmentation

The Purpose of Market Segmentation and Targeting LEARNING OBJECTIVES Explain the purpose of segmentation and targeting in marketing What Is Market Segmentation All About? Segmentation helps marketers answer the following set of fundamental questions: To whom should I be marketing? Why them? How can I reach them most effectively? Because marketers have finite resources, they have to… Read More »What Is Market Segmentation All About?

Introduction to Common Segmentation Approaches What you’ll learn to do: describe common segmentation approaches The next section of this module walks through several common approaches to market segmentation. Some approaches will probably seem familiar, or even obvious—like segmenting by gender or income level—but others, like “psychographic” segmentation, may not. These methods are common because they provide useful guidance… Read More »Introduction to Common Segmentation Approaches

Why Customers Matter LEARNING OBJECTIVE Explain why the customer is the cornerstone of marketing Who Are Customers, and Why Do They Matter? Marketing exists to help organizations understand, reach, and deliver value to their customers. For this reason, the customer is considered the cornerstone of marketing. With this in mind, what is likely to happen when an… Read More »Why Customers Matter

Introduction to the Purpose of Segmentation and Targeting What you’ll learn to do: explain the purpose of segmentation and targeting in marketing Segmentation and targeting are essential building blocks of marketing because they help marketers answer a basic question: Who am I trying to reach? If you can’t answer this question with a reasonable amount of certainty and detail,… Read More »purpose of segmentation and targeting in marketing

Why It Matters: Segmentation and Targeting Why learn about segmentation and targeting? Suppose you have just accepted a product marketing job with a technology company called Chumber. You’re excited about the company and the team you’ll be working with. Chumber’s main product is an automated, fully online system for checking the references of job candidates and getting feedback from… Read More »Why It Matters: Segmentation and Targeting

Putting It Together: Marketing Function The Four Ps of Marketing Yourself Now that you have a deeper understanding of the marketing function, let’s return to where we began in this module: marketing yourself as a new college graduate in the job market. How can the concepts of the four Ps and the marketing mix help you market yourself to prospective… Read More »Putting It Together: Marketing Function

Simulation: Ice Cream Magnate Try It Now that you’ve learned about the marketing mix and how it works, it’s time to give it a try yourself. The simulation below gives you a chance to take a “great business idea”—in this case, ice cream—and play around with the four Ps of marketing. Try the simulation a few times… Read More »Simulation: Ice Cream Magnate

The Role of the Marketing Plan LEARNING OBJECTIVES Explain the role of a marketing plan as a guiding document for marketing activities The Marketing Plan Effective marketing requires a plan—specifically, a marketing plan. Although customers should be at the center of any marketing plan, marketing activities do not operate in a vacuum. Instead, marketing is one function… Read More »The Role of the Marketing Plan

Introduction to the Role of the Marketing Plan What you’ll learn to do: explain the role of a marketing plan as a guiding document for marketing activities How do organizations use the marketing mix to achieve results? This requires a clear understanding of the results that the organization hopes to achieve and a plan that brings… Read More »role of a marketing plan as a guiding document for marketing activities

Case Study: Chobani LEARNING OBJECTIVES Explain how organizations use the marketing mix to market to their target customers In 2005, Turkish immigrant Hamdi Ulukaya bought a yogurt plant from Kraft Foods in Johnston, New York. Ulukaya had a vision of a better product: the thick, rich yogurt he had enjoyed in Turkey but couldn’t find… Read More »Case Study: Chobani – use the marketing mix to market to their target customers

Introduction to Using the Marketing Mix What you’ll learn to do: explain how organizations use the marketing mix to market to their target customers Now that we know what tools are available to create value, how can we use them most effectively? In this section we’ll cover a number of examples; later in the course we’ll discuss the… Read More »how organizations use the marketing mix to market to their target customers

Components of the Marketing Mix LEARNING OBJECTIVES Describe the marketing mix Product In the marketing mix, the term “product” means the solution that the customer wants and needs. In this context, we focus on the solution rather than only on the physical product. Examples of the product include: The Tesla Model S, a premium electric car A… Read More »Components of the Marketing Mix

What you’ll be able to do: describe the marketing mix The value proposition explains why a consumer should buy a product or use a service and how the product or service will add more value, or better solve a problem, than other similar offerings. Once you get the value proposition right, you still have to actually deliver value to… Read More »Reaching Customers through the Marketing Mix

Value Proposition Examples LEARNING OBJECTIVE Evaluate examples of value propositions The Value Proposition in Action Let’s take a look at some real examples and evaluate them. Are they clear, compelling, and differentiating? Keep in mind that you may not be the target market for all of these examples. Your role as a marketer is to evaluate… Read More »Value Proposition Examples

Introduction to the Evaluation of Value Propositions What you’ll learn to do: evaluate examples of value propositions If you were asked to evaluate the solution to an easy math problem, such as 24 + 17 = 45, you could definitely say whether it’s right or wrong. If, on the other hand, you were asked to evaluate a painting by a… Read More »Introduction to the Evaluation of Value Propositions