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This 60 page Class Notes was uploaded by Mr. Humberto Sipes on Wednesday October 21, 2015. The Class Notes belongs to MKTG 321 at Texas A&M University taught by Janet Parish in Fall. Since its upload, it has received 34 views. For similar materials see /class/225779/mktg-321-texas-a-m-university in Marketing at Texas A&M University.
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Date Created: 10/21/15
What is Marketing Marketing is the activity set of institutions and processes for creating communicating delivering and exchanging offerings that have for customers clients partners and society at large http www marketing powercomAboutAMAPagesDefinitionofMa rketing aspx Marketing requires Two or more parties with needs Desire and ability to satisfy the needs A way for the parties to Something to exchange Exchangeis athe provision or transfer of goods services or ideas in return for something of value Something of value Money credit labor goods Something of value Goods services ideas Marketing s focus the specific group of customer that an organization wants to focus on Marketing Mix Variables cProduct cP ce oDistribution place Promotion Marketing Strategy What Business Are We In Mission Statement o Marketing Myopia What Do We Offer Product Mix Product Life Cycle VWhat Information Is Needed To Make Strategic Decisions Environmental is the process of collecting informa m about the forces in the marketing environment Environmental is the process of assessing and interpreting the information gathered through environmental scanning VlWhat Do We Know About the Environment Demographic Economic Natural Technological Political Cultural Competition What Do We Do Well SWOT Analysis Core Competencies Competitive Advantage SWKW m vg g Internal Weaknesses External Opportunities Threats Who Should Drive What We Do Marketing Concept is a Marketing philosophy which sees the consumer or client as the of all the activities of an organization because no organization can survive without the continued patronage of its consumers Kotler 1996 What Does It Mean To Be A Strategist Value Information Openminded actively avoid myopia Analytic Actionoriented o Lifelong Learner How Can You Grow Your Business Acquire New Customers Sell More to Existing Customers Lose Less Customers V tGrowth Strategies Where do we want to go Business Portfolio Analysis Hedge Hog and Blue Ocean Strategies Distribution Decisions L u MAYS BUSINESS SCHOOL Marketing Channels i and SupplyChain Management Distribution Marketing Channel o Supply Chain Management Marketing Channels Create Utility EITime Utility El Place Utility El Possession Utility El Form Utility Channel Member Functions Complete transactions Information Promotion Contact Negotiation IEIII Fulfill completed transactions Physical distribution Risk ta king CUStomer CUStomer i Manufacturer Customer Distributor Customer Manufacturer Customer Manufacturer Customer Number of transactions without a distributor M X C 3 X 3 9 Number of transactions with a distributor X C 3 3 6 Wholesaler quot l ll F r AL i ll l L Channel 1 Channel 2 Channel 3 Customer marketing channels 7 1 branches l val Busmess Busmess l distributor dis butor Business Busmess l customer l customer Channel 1 Channel 2 Channel3 Business marketing channels l Channel Behavior and Organization Channel Behavior Vertical Marketinq Svstems Horizontal Marketing Systems o Multichannel Distribution Svstems Strategic Issues 1 4L 7 Wholesaler r Retailer I l K 39 Conventional marketing channel I l m l Vertical marketing system Lg 5quot u39ltichannel Distribution System x J xi 2 w V 7 i i y Consumer Consumer Business Business L segment 1 segment 2 segment 1 segment 2 A J 1 Customer 1 characteristics I Jyr F I g u Charactfristics I Product i o 1 4 I 4 intermediaries l a rlbUtes K gt I quota I x H r 39 7 Se ecu In 9 V MARKETING n k 39 CHANNEL M a r n g SELECTION Channels Marketing I T f environmental I ype 0 y forces organization H x 39 iw L Competition H W i Intensive Distribution Selective Distribution Exclusive Distribution 1 Intensity of Market Coverage Suppliers Inbound logistics Mayanlent Company Outbound logistics Resellers Customers Outbound logistics Major Logistics Functions o Warehousing o Inventory Management o Transportation o Logistics Information Management CHARACTERISTICS AN D RELATIVE RATINGS OF TRANSPORTATION MODES BY SELECTION CR ITE R I A Railroads Trucks Pipelines Waterways Airplanes Selection criteria Cost Moderate High Low Very low Very high Speed Average Fast Slow Very slow Very fast Dependability Average High High Average High Load flexibility High Average Very low Very high Low Accessibility High Very high Very limited Limited Average Frequency Low High Very high Very low Average Tonmiles 368 290 l99 139 03 transported Products carried Coal grain Clothing Oil processed Chemicals Flowers food lumber heavy computers coal natural gas bauxite grain highly equipment books motor vehicles perishable paper and pulp groceries agricultural technical products and produce implements instruments chemicals livestock emergency parts and equipment overnight mail Retailing and Wholesaling What is Retailing o it includes all the activities involved in selling products or services directly to for their personal nonbusiness use o trillion in sales o Categorized based on amount of service product line relative prices Amount of Service o Self service 0 Examples o Limited service 0 Examples o Full service 0 Examples Product Line o Specialty stores Department stores o Supermarkets o Convenience stores o Superstores o Category killers o Service retailers Relative Prices o Discount Store o OffPrice Retailers 0 Factory outlets 0 Warehouse clubs Retailer Marketing Decisions i Retail Strategy Retail segmentation and targeting Store differentiation and positioning G I Retail Marketing Mix Product and service assortment Retail prices Promotion Distribution location G Create value for targeted retail customers The Wheel of Retailing High prices and markups many services expensive surroundings Department Discount Warehouse clubs stores stores Low prices and Category killers markups few services austere I surroundings Onllne retailers 1 8901 910 1 9551 970 1 9905 The Future of Retailing New Retail Forms and Retail Life Cycles Growth of Retailing Retail Convergence The Rise of a Growing Importance of Retail Technology a Expansion of Major Retailers Retail Stores as Communities or Hangouts Franchise o What is a franchise o What are the advantages and disadvantages Wholesaling o All activities involved in selling goods and services to those buying for use Major Wholesaling Functions x x x m am lt Types of Wholesalers Merchant Wholesalers Brokers and Agents Manufacturers sales branches and offices ltiWholesaler Marketing Decisiorisil Wholesale Wholesale Strategy Marketing Mix Wholesale Product and service segmentation and assortment targeting Wholesale prices Differentiation and service positioning Promotion Distribution location Ir Jr Create value for targeted wholesale customers Consumer Behavior LLu MAYS BUSINESS SCHOOL Introduction Consumer buyer behavior 0 The buying behavior of final consumers individuals and households that buy goods and services for o Consumer o All the individuals and households who buy or acquire goods and services for personal consumption lFactors Influencing Consumer Behavior Cultural Social Culture Reference groups Subculture Family Social class Roles and status Situational Psychological Personal Physical Motivation Age Social Perception Family Life Cycle Time Learning Occupation Purchase reason Beliefs Economic situation Mood Attitudes Lifestyle arm n a ity I VSeIf Conc e ptyr by Factors Influencing Consumer Behavior Cultural Culture Subculture Social class is a major driver of human wants and behaviors By 2050 the US population will be 13 of the population 0 are the most price conscious segment and enjoy shopping more than other groups 0 Asian Americans are the most US segment 0 By the entire baby boom cohort will be 50 Factors Influencing Consumer Behavior Social Reference groups Fa m i ly Roles and status WordofMouth Influence and Buzz Marketing 0 Opinion Leaders 0 Online Social Networks 0 Family members tend to have strong influence on buyer behavior Factors Influencing Consumer Behavior Situational Situational influences result from circumstances time and location that Time affect the consumer buying decision Purchase rea so n process p 188 Mood Examples by Factors Influencing Consumer Behavior Psychological Motivation Perception Learning Beliefs Attitudes How do psychological influences affect buying behavior 0 o o o Motive a need that is sufficiently pressing to direct a person to seek satisfaction of the need Perception process for selection organizing and interpreting information Learning changes in behavior as a result of experience Belief thought that a person holds about something Attitude consistent evaluations feelings and tendencies toward something can be positive or negative According to Maslow s Hierarchy of Needs A B individuals simultaneously try to satisfy all five levels of needs selfactualization needs are the most important needs to be met for most individuals individuals first address needs at the top of the pyramid and then move down to the lower level needs levels of needs are different for everyone and we all try to satisfy them in a different order individuals first satisfy the most basic needs and then try to fulfill needs at the next level up Maslow39s Hierarchy of Needs Selfactualization needsA Esteem needs Social needs Safety needs y Factors Influencing Consumer Behavior 0 How do personal influences affect buying AEe behavior Family Life Cycle Occupation 0 Changes in the family life cycle Economic situation 0 Economic situation impacts buying power Lifester 0 Personality and brand personality Personality 39 iSeIfocanceth Brand personality traits Level of Involvement and Consumer ProblemSolving Processes o Level of Involvement 0 degree of interest in a product and the importance of the product for that person involvement is ongoing and long term involvement is temporary and dynamic Level of Involvement and Consumer ProblemSolving Processes Routinized Response Behavior o Limited Problem Solving o Extended Problem Solving o Impulse Buying Types of Buying Decision Behavior o Complex buying behavior occurs in situations characterized by high consumer involvement in a purchase and significant perceived differences among brands o Dissonancereducing buying behavior occurs in situations characterized by high involvement but few perceived differences among brands Types of Buying Decision Behavior o Habitual buying behavior occurs in situations characterized by lowconsumer involvement and few significantly perceived brand differences o Varietyseeking buying behavior occurs in situations characterized by low consumer involvement but significant perceived brand differences l Consumer Buying Decision Process o Problem Recognition o Information Search o Evaluation of Alternatives 0 Consideration set Evaluative criteria Framing the alternatives Aonsumer Buying Decision Process Purchase Postpurchase Evaluation
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