Tài liệu Giáo trình: Marketing Management_ Chapter 02 doc

Marketing Strategyƒ Product Features – Different features are often used to attract different segments.. Product & Service Decisions Value Proposition unlike competitor targets, stateme

Chapter

A Strategic Marketing Framework

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Key Learning Points

ƒ Elements of a complete marketing

strategy

ƒ Developing a value proposition

ƒ Developing competitive advantage

ƒ Positioning products and services

ƒ The product life cycle and how it

affects marketing strategies

Figure 2-1:

A Complete Marketing Strategy

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Marketing Strategy

ƒ Objectives

– Mission statements describe the

customer orientation or business philosophy

– Corporate objectives state the

overall goals to be achieved in

financial terms

– Designates a clear time frame

– States goal in measurable terms

– Should be challenging but realistic

Figure 2-2:

Strategic Alternatives

customers in new segments

introduction of new or modified products?

Key Strategies

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Marketing Strategy

ƒ Market Development Strategies:

Entering Foreign Markets

– Requires decisions related to:

– Five factors should be considered when deciding how to enter a foreign market

Marketing Strategy

ƒ Product Features

– Different features are often used to

attract different segments.

– Features may be product-specific or

package-related.

– Creating several versions of a

manufactured good can be very

expensive.

– Services and information packages are

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Can you think of a current product that could appeal to a different market segment if the packaging were changed

in some fashion? Explain

Discussion Question

Ketchup, margarine, and even peanut butter have successfully used packaging innovations,

such as the squeeze container,

to appeal to new markets

Product & Service

Decisions Value Proposition

unlike (competitor targets),

(statement of primary

differentiation).

customer value

be perceived by the consumer

to copy

Core Strategy

Product & Service

Decisions

Key Decisions

Marketing Strategy

General Approaches to Creating Competitive Advantage

ƒ Cost- or price-based advantage

ƒ Quality-based or differentiation

advantage

ƒ Perceived quality or

brand-Marketing Strategy

ƒ Cost- or Price-Based Advantage

– Difficult to achieve

– Two primary methods of creating a

cost- or price-based advantage:

from economies of scale

– Strict cost control can also help smaller firms or those with less experience to develop a cost-based advantage

Figure 2-4:

Learning Curves for

Software and Hardware

• Typically implies higher costs

• Allows for both higher prices and higher margins

– Differentiation can occur at any

point within the value chain

Product & Service

ƒ Marketing and Sales

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Marketing Strategy

ƒ Perceived Quality or Brand-Based

Differentiation

for differentiation when actual differences are small, hard to achieve, or difficult to sustain

communications can all contribute to based differentiation

perception of your brand compared to

competitors is required

Figure 2-5:

Perceptual Map:

Retail Banking

advantage is through the

brand name The value of a

brand name in communicating quality or other aspects of the product is called brand

equity.”

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- Russell S Winer

clear image in the mind

of the consumer of what the product stands for and how it is different from competitive

offerings

perceived differential advantages

Core Strategy

Product & Service

Decisions The headline,

“Travel to Asia and Awaken Your Senses,”

and the print ad copy are used to implement

Malaysia

proposition.

Figure 2-7:

Ensuring a Segment-Focused Strategy

Figure 2-8:

The Product Life Cycle

ƒ Strategy options and the importance of

marketing mix variables vary across each stage of the PLC

ƒ Not all product categories follow the

standard PLC curve

Figure 2-9:

The Product Life Cycle: Videocassette Recorders

rate are low

focuses on the generic product

Product Life Cycle Marketing Strategies

Stage of PLC

battles, few new buyers, large distribution, large promotion costs,

competitive pricing

position or harvest for short-term

market leader’s strategy

Stage of PLC

Product Life Cycle Marketing Strategies

ƒ Being the last provider in a truly dying market can be Stage of PLC

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Figure 2-10:

Beer Market Evolution For Selected Countries/Regions