Product, Price, Place H Edu 4310. Marketing Strategy - Product/Service What is a product or service?

Slides:

Advertisements

Similar presentations

MARKETING Pricing Strategies

Advertisements

11 | 2Copyright © Houghton Mifflin Company. All rights reserved. Part Five Product Decisions.

Chapter 30 – Pricing Strategies

THE PRODUCT LIFE CYCLE Slide Product Life Cycle  Primary Demand Primary Demand Introduction Stage  Selective Demand Selective Demand  Skimming.

Dr. Close. McGraw-Hill/Irwin ©2009 The McGraw-Hill Companies, All Rights Reserved Demographic Considerations  Number of potential buyers  Location of.

Price Mix. Price Sum of all the values that consumers exchange for the benefits of having / using the product – Monetary – Energy – Time – Psychic.

Pricing and Sales Promotion A Wrap Up MAR 331. Pricing and Sales Promotion A Wrap Up Marketing and Pricing –Price/Value Relationships –Role of the Distribution.

10-1 MARKETING MANAGEMENT Pricing Chapter Questions How do consumers evaluate prices? How should a company set prices initially for products or.

PowerPoint Slides to accompany Rix Marketing: A Practical Approach 7e

HAS 3020 Session Six Price. Marketing Strategy--Price Identify constraints Determine objectives Estimate demand and revenue Determine cost/volume/profit.

and Pricing Strategies How Much Would You Pay for an iPad?

What is the Marketing Mix? Ms. Roberts EWHS Marketing 2011.

© Prentice Hall, 2005 Business In Action 3eChapter Developing Product and Pricing Strategies.

Pricing Strategy …critical marketing mix variable actually produces revenue shortest term marketing mix variable relates directly to microeconomics supply.

PRODUCT PLANNING.

© Prentice Hall, 2007Excellence in Business, 3eChapter Product and Pricing Strategies.

Essentials of Health Care Marketing 2 nd Ed. Eric Berkowitz Chapter 9 Price.

Part Chapter © 2009 The McGraw-Hill Companies, Inc. All rights reserved. 1 McGraw-Hill Marketing: Product and Price 1 Chapter 9.

MT 219 Marketing Unit Five New Products and Pricing Note: This seminar will be recorded by the instructor.

The Marketing Plan Target Marketing Segmentation Chapters 4 and 7.

McGraw-Hill/Irwin Copyright © 2009 by The McGraw-Hill Companies, Inc. All Rights Reserved.

1 11.Product & Service Strategies. 2 Products Product: tangible goods vs. services Levels of product –Class & form –Core, actual, augmented Product line.

Advertising and Sales Promotion ©2013 Cengage Learning. All Rights Reserved. Chapter 4.

MT 219 Marketing Unit Nine Course Review Note: This seminar will be recorded by the instructor.

© Prentice Hall, 2004 Business In Action 2eChapter Developing Product and Pricing Strategies.

Overview of Marketing Class 23 Tuesday 11/15/11. Nature of Marketing To create value by allowing people and organizations to obtain what they need and.

Marketing: An Introduction Armstrong, Kotler Chapter nine Pricing Considerations and Strategies.

Essentials of Health Care Marketing 2nd Ed. Eric Berkowitz

Developing Marketing Strategies Chapter 7. Marketing Concept Three orientations Three orientations Customer Customer Goals Goals System System Meeting.

Pricing Strategies Chapter 26.1

D. MARKETING A SMALL BUSINESS 7.00 Identify product decisions necessary for a small business Identify factors that contribute to the selection of.

What is a Product Life Cycle?  The marketing theory that a product moves through different stages of life, from birth to death.  Every decision impacts.

Segmentation, Targeting and the Marketing Mix Marketing Strategies Investigate Segmentation Opportunities Determine Target Market Develop the Marketing.

Chapter 17 Pricing in Retailing RETAIL MANAGEMENT: A STRATEGIC

Marketing I Curriculum Guide. Product/Service Management Standard 5.

Managing Products and Brands Chapter 11. The Product Life Cycle Introduction Stage Introduction Stage Growth Stage Growth Stage Maturity Stage Maturity.

Unit B Planning and Preparing to Manage a Small Business Competency 5.00 Understand pricing, promotion, and market planning.

Price Strategy & Management

B121 Chapter 11 Marketing. It is concerned with exchange relationships. Transactional marketing – oriented towards single purchase Relationship Marketing.

> > > > Promotion and Pricing Strategies Chapter 14.

Product Characteristics Features Attractiveness Uniqueness Innovation Benefits Customer experience Customer satisfaction.

Target I can explain the characteristics of each stage of the product life cycle.

Performance Analysis Lecture by Murad Rattani Oxford College of London.

Standard 5. A marketing function that involves obtaining, developing, maintaining, and improving a product or service mix in response to market opportunities.

Pricing Strategy.  Focus on the value of your product / service delivers  Value = perceived benefits Price Know your competitor Reward staff for sales.

3/8/20161 CHAPTER 6 PRODUCT STRATEGY. 3/8/20162 Basic Issues in Product Management u The core product-the product/service itself u The tangible product-physical.

THE PRODUCT LIFE CYLE. INTRODUCTION Product  branding and quality level is established  patents and trademarks) are made  Pricing  Low penetration.

THE PRICE STRATEGY By: Adrienne Musngi. VOCABULARY 11.1  Fixed  Variable  Price gouging  Price fixing  Resale price maintenance  Unit pricing 

Key Topics Classification of products Consumer and producer products Innovation, technological change and R&D New product design and development Product.

Essentials of Health Care Marketing 2 nd Ed. Eric Berkowitz Chapter 10 Distribution.

İntroduction to Business 2 BUS 102 Erlan Bakiev, Ph. D. Zirve University BUS 102.

Marketing Winter THE MARKETING MIX Session 6 Tuesday, April

Entrepreneurship CHAPTER 11 SECTION 1.  To stay in business, you must make a profit.  Costs and expenses can be fixed or variable: 1.Fixed costs – do.

What is a Product?  The starting point of the “4 Ps”  Includes:  Physical unit  Package  Warranty  Service  Brand  Image  Value  Products can.

Chapter 10- slide 1 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall Chapter Ten Pricing Concepts Understanding and Capturing Customer.

Chapter 17 Pricing in Retailing RETAIL MANAGEMENT: A STRATEGIC

Chapter 11 Pricing Strategies

Product and Pricing Strategies

Marketing case DIY Producing/selling Market situation

Chapter 17 Pricing in Retailing RETAIL MANAGEMENT: A STRATEGIC

Chapter 17 Pricing in Retailing RETAIL MANAGEMENT: A STRATEGIC

Chapter8 Pricing in Retailing RETAIL MANAGEMENT: A STRATEGIC APPROACH,

Managing Market Strategies

Pricing Strategies.

Marketing Management 2nd Edition

Product Strategy الفصل التاسع

Pricing Strategy Chapter 14

Pricing Strategies.

Price Strategy Considerations

Presentation transcript:

Product, Price, Place H Edu 4310

Marketing Strategy - Product/Service What is a product or service?

Three dimensions Core Tangible Augmented

Tangible vs Intangible

Five “I”s Intangibility Inconsistency Inseparability Inventory Interaction

Product planning Focal points Consumers’ wants and needs Current resources and technology Environmental opportunities

Levels of planning Product class (SIC, automobiles) Product mix (cars vs vans or trucks) Product line (Beetles) Product item (new, colors, features)

Levels of planning (cont) Breadth Depth

Life Cycle Introduction Growth Maturity Decline

Product Strategies Market development Product development Positioning Packaging Branding

Acceptance Innovators (2.5%) Early adoptors (13.5%) Early majority (34%) Late majority (34%) Laggards (16%)

Marketing strategy: Price Identify constraints Newness in life cycle Production cost Channel length Market structure

Pricing objectives Profit Sales Market share

Market Share HighLow Market Growth High Low Maintain price Price leadership Meet competitor Penetration pricing Set high prices Premium pricing Meet competitor Follow the leader Skimming pricing Hold steady Meet lower prices Protect share Lower prices Price emphasis Meet competitor

Pricing objectives (cont) Image Stabilization Cross-subsidization

Price Sensitivity Price Demand Inelastic Elastic

Cost vs volume Fixed and variable costs Break-even analysis Marginal cost pricing

Pricing strategies Price lining Odd pricing One-price vs flexible pricing Prestige price

Pricing strategies (cont) Leader pricing Bundled pricing Going-rate pricing Discounts

Distribution (Place or Access) What comes to mind? How do we get our services to our customers?

Channels of distribution Bread vs health care

Bread

Hospital care

Channels (cont) The tangible product must first exist The services the patient “consumes” aren’t produced until the end of the process. The consumer isn’t involved in the distribution of the tangible product. The patient initiates health care and is in the process all the way.

Functions… Place: location & facilities Facilities: layout, look, feel, safety Time: hours, waiting, next appointment Possession Form (Miami Herald) Information/communication: other languages, symbols

Intensity of distribution Intensive Selective Exclusive

Vertical marketing Purpose Cost savings Management factors Environmental changes Corporate Administered Contractual

Power of channels Coercive Economic Reward Referent Expertise

Retail positioning matrix Breadth of product line Broad Narrow Value-added HighLow Mayo Clinic Low-cost Hospital Boston Children’s Hospital Solo Practice Internist

Channel Control Push Pull