The Marketing Mix

Transcript

1. MARKETING MIX LITERALLY THE WORST SUMMARIES YOU’LL EVER READ Made by: Your Friendly Neighbourhood Spiderman
2. PRODUCTS WELL, TECHNICALLY IT’S PRODUCTS, PORTFOLIOS AND LIFECYCLES….
3. BRANDING THE ICONS AT THE TOP ARE LITERALLY USELESS.
4. PRODUCT DEVELOPMENT YOU GOT IT. THIS SECTION TALKS ABOUT THE PRODUCT DEVELOPMENT.
5. SERVICES I LITERALLY HAVE NO IDEA WHAT THIS SECTION IS Ƽ
6. At the end you should be able to… Section Summary Review the marketing mix as it relates to services 1 Identify the key issues in managing services 2 Understand how to position services 3
7. Characteristics of a Service Service Portfolios A deed, performance or effort. At the end, it’s not something you own. Intangible It’s produced and consumed at the same time. Avoid inter-customer conflict. Inseparable A service will be different each time (usually). Requires reliable equipment. Variable Can not be stored. Consumers take part in the service. Perishable
8. Managing Customer Relationships Managing Services Benefits for the Organisation ˒ Increased purchases. ˒ Lower cost. ˒ Increased lifetime customer value. ˒ Sustainable competitive advantage. ˒ Employees are happier and likely to stay. Benefits for the Customer ˒ Higher quality service. ˒ Risk and street reduction. ˒ Avoid switching costs by staying with one provider. ˒ Social and status benefits.
9. Retention Strategies Managing customer relationships ˒ Bonding with customers. ˒ Specifically targeting customer for retention (ie: High value customers) ˒ Promise fulfilment ˒ Service Recovery ˒ Build trust with customers. ˒ Internal Marketing
10. Expected vs Perceived Service Managing service quality It’s possible for the customer to simply misunderstand some aspect of the service. 01. Misconceptions Inadequate resources, or an inadequate delivery of the service can lead to lower perceived service. 02. Inadequacy By making exaggerated promises, the service provider inflates the expected service levels. 03. Exaggeration
11. Gap Analysis Managing service quality Customer Perceptions Customer Expectations Service Delivery Service Standards Expectation Management 1 2 3 4 5 1. Customer / Market Research
 Understand the customer 2. Design
 Service design 3. Conformance
 Conformance 4. Communication
 Manage the evidence 5. Customer Satisfaction
13. Consequences of Service Quality Managing service quality Behaviour Financial Remain Defect +$ -$ Quality Intentions Superior Inferior Favourable Unfavourable + = ZEITHAML, BERRY AND PARASURAMAN (1996)
14. Managing Service Productivity Managing services 01. Technology 02. Carefully balance supply and demand 03. Customer involvement in production
15. Managing Service Staff Managing services 01. Moments of truth crucial. 02. Carefully select staff and provide training. 03. Ensure staff motivation & empowerment. Provide means for evaluation.
16. Staff Conflicts Functional vs Dysfunctional Functional ˒ Functional conflict is constructive and can support the goals of the business. ˒ It involves people willing to work together and share information. ˒ Leads to increased commitment & quality. Dysfunctional ˒ Non constructive conflict. ˒ Usually revolving around people that just can’t work together. ˒ Can involve withholding information or creating obstacles.
17. Internal Marketing Possible objectives when using internal marketing Internal marketing is the process of motivating and empowering employees within the business to work as a team for the overall well being of the customer. Change BEHAVIOURS 1 Support DECISION MAKING 2 Win COMMITMENT 3 Manage CULTURE 4
18. Positioning Where do you position a service? Target Segment Advantage Customer Needs Marketing Mix Position service here
19. Halo Customers Target Customers People who aren’t necessarily your target customer will still buy your products.
20. PRICE DOSH. WONGA. DOUGH. YOU KNOW HOW IT IS.
21. PROMOTIONS I’M TOO LAZY TO THINK OF ANYTHING CLEVER TO WRITE HERE.
22. PLACE HOW ARE THERE SO MANY OF THESE????
23. EMARKETING LAST ONE. I PROMISE.
24. You’ve reached the end!