Market Driven Opportunity and Marketing. 2 The Marketing Process * Marketing Analysis (The 5 C’s) CustomersCompanyCompetitorsCollaboratorsContext Market.

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Presentation transcript:

Market Driven Opportunity and Marketing

2 The Marketing Process * Marketing Analysis (The 5 C’s) CustomersCompanyCompetitorsCollaboratorsContext Market Segmentation Target Market Selection Product and Service Positioning Marketing Mix (The 4P’s) Product & ServicesPlace/ChannelsPromotion Pricing Customer Acquisition Customer Retention Profits Creating Value Capturing Value Sustaining Value *Robert Dolan, Note on Marketing Strategy. HBS:

3 Assessing Opportunity: Fit Newness to Market Low High Newness High to Firm Low Maximum Uncertainty & Risk Product- Company Fit Issue Cannibalization/ Incremental Sales Product- Market Fit Issue

Crash Program 100% Right High Low High Low Speed at which market window is closing Degrees of Technical Innovation Required Source: (Krubasik, HBR, 1988) Assessing Opportunity: Time

5 Assessing Opportunity: Risk (Decision Outcome) Market Performance “Good” “Bad” “Go” Strategic Decision “No Go” Right Decision Right Decision Type I Error Type II Error

6 Identification of Need: Kano Method A car: + - Airbag    Gas Mileage   GPS system

7 Performance – Importance Matrix Performance Level Low High Importance of Attribute to Customers High Low MaintainImprove Low Priority; Ignore? Possible Overkill; Waste?

8 Unique, Individuality, Personal Car Common Mass, People Car Cool, Hip, Hot, Stylish Less cool, Practical, Functional, Boring Segment 4 Segment 1 Segment 3 Segment 2. Mini Cooper. Toyota Prius. Ford Taurus. Mazda Miata Perceptual Map

9 Diffusion of Innovation

10 Product Decisions Pioneering vs. Incremental Fit Cannibalization Trading up vs. Trading Down Network Externality –standardization

11 Pricing Decisions $0 Price based on financial considerations Price based on customers’ perceived value Variable Cost Fixed Cost Profit Target $Infinity

12 Communication (promotion) Decisions What do I want to achieve? (Mission) (Objective) How much should I spend? (Money) Whom should I communicate with? (Market) What should I say? (Message) (Copy) Where and when should I place the advertisement? (Media) How do we know the effectiveness of the advertisement? (Measurement)

13 Distribution (place) Decisions Channel levels Channel alternatives –convenience, shopping, and specialty –intensive,selective, exclusive Channel options –demand generation vs. fulfillment Channel conflicts