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Objectives for Workshop 3 Review Key concepts from week 2 Summarize and define marketing concepts Integrated Marketing Communication Marketing Channel Strategy Understand and discuss strategic marketing decision-making Develop and apply critical thinking skills through case analysis Refine formal business writing and oral communication skills
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Review of Class 2 Opportunity Analysis Market Segmentation Target Marketing Product and Service Strategy Brand Management Issues on Marketing Plans
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Review of Class 2 - Positioning MoreSameLess More More for More More for Same More for Less Same Same for Less Less Less for Much Mess Price ProductProduct
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Review of Class 1 Surprise Vision / Mission Statements SWOT Analysis 4 P’s of Marketing Marketing Strategies Market Penetration Market Development New Product Offering Diversification Financial Analysis
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Summarize and define marketing concepts – Marketing Communication Marketing Communication is: Process by which information about an organization and its offerings is disseminated to selected markets The reason from Marketing Communication is to inform buyers of Availability of an offering Benefits of the offering Where and how obtained
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Summarize and define marketing concepts – Marketing Communication Information Requirements Adoption – Process Model Awareness Consideration Preference Purchase Roles in purchase (work) Purchaser Influencer Decision Maker Consumer Think of a personal situation
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Summarize and define marketing concepts – Marketing Communication Communication Objectives Depends on product offering and the stage in product life cycle Primary Demand – product class Selective Demand – particular brand
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Summarize and define marketing concepts – Marketing Communication Integrated Communication Mix Buyer Requirements Nature of Offering (complex) Target Market Characteristics Geographic, size, Organizational Capacity Internal versus external Push versus Pull Websites – transactional or promotional
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Summarize and define marketing concepts – Marketing Communication Communication Mix Budgeting Percent of Sales Competitive Parity Advertising Share of Voice All available funds Objective-Task Method Evaluation/Control
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Summarize and define marketing concepts – Marketing Communication Consume r Business Product When Made Service __________ _________ key When Made Service __________ _________ key Place Promotio n Price
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Summarize and define marketing concepts – Marketing Communication Consume r Business Product Made B/4 Sale Service Helpful Style key After Sale Service Critical Function is key Place Promotio n Price
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Summarize and define marketing concepts – Marketing Communication Consume r Business Product When Made Service __________ _________ key When Made Service __________ _________ key Place Where sold Promotio n Price
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Summarize and define marketing concepts – Marketing Communication Consume r Business Product Made B/4 Sale Service Helpful Style key After Sale Service Critical Function is key Place Buyer to Seller Seller to Buyer Promotio n Price
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Summarize and define marketing concepts – Marketing Communication Consume r Business Product When Made Service __________ _________ key When Made Service __________ _________ key Place Where sold Promotio n _______ Media Timing _______ Media Timing Price
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Summarize and define marketing concepts – Marketing Communication Consume r Business Product Made B/4 Sale Service Helpful Style key After Sale Service Critical Function is key Place Buyer to Seller Seller to Buyer Promotio n Mass Media Frequent Trade Pubs Infrequent Price
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Summarize and define marketing concepts – Marketing Communication Consume r Business Product When Made Service __________ _________ key When Made Service __________ _________ key Place Where sold Promotio n _______ Media Timing _______ Media Timing Price How set
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Summarize and define marketing concepts – Marketing Communication Consume r Business Product Made B/4 Sale Service Helpful Style key After Sale Service Critical Function is key Place Buyer to Seller Seller to Buyer Promotio n Mass Media Frequent Trade Pubs Infrequent Price One SetNegotiable
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Break
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Develop and apply critical thinking skills through case analysis Goal: To analyze the business and present a plan that would help grow the business 7% annually as measured by EBITA Amber Inn and Suites
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Break
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Back to Work
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Summarize and define marketing concepts – Marketing Channel Strategy Example - Assume four producers – Assume four consumers – How many transactions possible? What is the purpose of the channel?
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Summarize and define marketing concepts – Marketing Channel Strategy Assume 4 producers/consumers Assume one distributor How many potential transactions?
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Summarize and define marketing concepts – Marketing Channel Strategy Functions in the Distribution Channel Information Gathering Promotion Contact Matching Negotiation Distribution Financing Risk Taking Servicing
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Summarize and define marketing concepts – Marketing Channel Strategy Distributors or Wholesalers Retailers or Dealers Brokers or Agents Producer Ultimate Buyers
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Summarize and define marketing concepts – Marketing Channel Strategy Book Distributor Amazon.com (Virtual Retailer) Book Publisher Auto Dealer Auto-By-Tel (Virtual Broker) Travelocity (Virtual Agent) Auto Manufacturer Commercial Airline Computer Manufacturer Ultimate Buyers
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Summarize and define marketing concepts – Marketing Channel Strategy Hear “Eliminate the Middle Man and Save Money? - True
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Summarize and define marketing concepts – Marketing Channel Strategy 1983 – Oklahom a City 1990
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Summarize and define marketing concepts – Marketing Channel Strategy Retail Channel Distribution Intensive Exclusive Selective
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Break
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Develop and apply critical thinking skills through case analysis Goal: Should Swisher consider Private Brand sales as a means to grow the company
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Understand/Discuss strategic marketing decision-making
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Objectives for Workshop 3 Review Key concepts from week 2 Summarize and define marketing concepts Integrated Marketing Communication Marketing Channel Strategy Understand and discuss strategic marketing decision-making Develop and apply critical thinking skills through case analysis Refine formal business writing and oral communication skills
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Wrap-up Questions Next week activities Read Chapters 8-9 Cases to be completed Goodyear Tire and Rubber Swisher Motors
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