Introduction to business: marketing

Transcript

1. Marketing cc licensed ( BY NC SD ) flickr photo

   by TF28 ❘ tfaltings.de: http://flic.kr/p/8R1gEq

2. Quiz • Closed book/closed notes • Put away phones until

   quiz is over • You may collaborate with your team • You are responsible for the answers on your quiz • You do not have to choose the same answers as your team

3. In your notes, write the first word that comes to

   mind:

4. marketing

5. Four P's • Product • Price • Place • Promotion

6. What is marketing?

7. Marketing creating, communicating, and delivering value to customers

8. cc licensed ( BY NC ND ) flickr photo by

   imagematters1: http://flic.kr/p/2cDA5w

9. Product <-> Something of Value • Product? –Goods –Services •

   Value? –Money –Something else?
10. None

11. Product?

12. Something of value?

13. Value of personal information • Address; $.50 • Zip: $.50

    • Education: $12.00 • DOB: $2.00 • Employment: $13.00 • Phone: $.25 • Unlisted: $17.50 • Cell: $10.00 http://www.turbulence.org/Works/swipe/calculator.html

14. cc licensed ( BY ) flickr photo by Slideshow Bruce:

    http://flic.kr/p/74JKE2

15. cc licensed ( BY NC ND ) flickr photo by

    Daniel Pouliot: http://flic.kr/p/6JyKDJ

16. Utility = usefulness • Form • Place • Time •

    Possession

17. Transactions -> Relationships • Why? • New customers cost more

    than old –5-10x, Sears study found 12x

18. Customer lifetime value • Value of long-term business from customer

    • Taco Bell? • $12,000 • Starbucks? • $14,000 • Publix? • $75,000 • Lexus? • $600,000

19. Customer Equity • combined customer lifetime values of all customers

20. cc licensed ( BY NC SD ) flickr photo by

    mliu92: http://flic.kr/p/9NHpEK

21. Cadillac v. BWM • 1976: Cadillac had 52% luxury market

    share –Poor customer equity • BMW: lower market share –higher customer equity

22. cc licensed ( BY NC ND ) flickr photo by

    Motovique: http://flic.kr/p/b34us4

23. Customer Equity • BWM now #1 luxury brand, ahead of

    Mercedes-Benz • Cadillac market share dropped to 8%

24. cc licensed ( BY ) flickr photo by comedy_nose: http://flic.kr/p/cZ1ZWS

    Target marketing

25. The market cc licensed ( BY ) flickr photo by

    Muffet: http://flic.kr/p/adCYv

26. Market segmentation cc licensed ( BY ) flickr photo by

    Muffet: http://flic.kr/p/af7Vr

27. Target marketing cc licensed ( BY NC ) flickr photo

    by presta: http://flic.kr/p/6838Fd

28. Segmentation methods • Demographic • Geographic • Psychographic • Behavioral

29. Marketing Mix • Four P's: • Product • Price •

    Place • Promotion

30. Marketing research • Market? • Primary data • Secondary data

31. Primary data • Observation • Surveys • Interviews • Focus

    groups • Experiments –Cherry Vanilla Dr. Pepper: 61 formulas, 3904 tastings –Frito Lay chips: 4-psi breaking strength

32. Primary data • Advantages? –Recent –Relevant –Proprietary • Disadvantages? –Expensive

    –Time to design/collect –Expertise in research design/analysis?

33. Secondary data • Already-existing information • Census • CIA World

    factbook

34. Secondary data • Advantages? –Fast –Inexpensive –Professional design/analysis • Disadvantages

    –May be out of date –May ask wrong questions –No competitive advantage