1. © Prentice Hall, 2005 Business In Action 3eChapter 13 - 1 Developing Product and Pricing Strategies

2. © Prentice Hall, 2005 Business In Action 3eChapter 13 - 2 What Is Marketing? Conception Pricing Promotion Distribution

3. © Prentice Hall, 2005 Business In Action 3eChapter 13 - 3 Types of Marketing Product marketing Place marketing Cause-related marketing

4. © Prentice Hall, 2005 Business In Action 3eChapter 13 - 4 The Role of Marketing Needs and wants Exchange process Transactions

5. © Prentice Hall, 2005 Business In Action 3eChapter 13 - 5 The Four Utilities Form Time Place Possession

6. © Prentice Hall, 2005 Business In Action 3eChapter 13 - 6 The Marketing Concept Customers Profitability Coordination

7. © Prentice Hall, 2005 Business In Action 3eChapter 13 - 7 The Consumer’s Decision Process Need recognition Information search Evaluation of alternatives Purchase Postpurchase evaluation

8. © Prentice Hall, 2005 Business In Action 3eChapter 13 - 8 Factors That Influence the Buyer’s Decision Culture Social class Reference groups Self-image Situational factors

9. © Prentice Hall, 2005 Business In Action 3eChapter 13 - 9 Purchasing in Organizations Decision-making factors –Economics and logic –Formal buying procedures –Multi-party participation –Buyer-seller relationship

10. © Prentice Hall, 2005 Business In Action 3eChapter 13 - 10 Marketing Research Observations Surveys and questionnaires Experiments Interviews Small samples Focus groups

11. © Prentice Hall, 2005 Business In Action 3eChapter 13 - 11 Database Marketing Customers –Preferences –Interactions –Behaviors

12. © Prentice Hall, 2005 Business In Action 3eChapter 13 - 12 Relationship Marketing Keeping customers is cost effectiveKeeping customers is cost effective Long-term customers are more profitableLong-term customers are more profitable Satisfied customers spread the newsSatisfied customers spread the news Customers will pay for superior serviceCustomers will pay for superior service Dissatisfied customers tell everyoneDissatisfied customers tell everyone

13. © Prentice Hall, 2005 Business In Action 3eChapter 13 - 13 One-To-One Customer Marketing Identification Differentiation Interaction Customization

14. © Prentice Hall, 2005 Business In Action 3eChapter 13 - 14 Strategic Planning Examine current marketing situation Assess opportunities and set objectives Develop marketing strategies

15. © Prentice Hall, 2005 Business In Action 3eChapter 13 - 15 Examine the Current Marketing Situation Review performance Evaluate competition Examine internal strengths and weaknesses Analyze the external environment

16. © Prentice Hall, 2005 Business In Action 3eChapter 13 - 16 Assess Opportunities and Set Objectives Market penetration New product development Geographic expansion Diversification

17. © Prentice Hall, 2005 Business In Action 3eChapter 13 - 17 Develop the Marketing Strategy Segments and niches Target markets Market position Marketing mix

18. © Prentice Hall, 2005 Business In Action 3eChapter 13 - 18 Segmenting Markets Demographics Geographics Psychographics Geodemographics Behavioral patterns Usage patterns

19. © Prentice Hall, 2005 Business In Action 3eChapter 13 - 19 Target Market Strategies Undifferentiated Differentiated Concentrated

20. © Prentice Hall, 2005 Business In Action 3eChapter 13 - 20 Positioning the Product Features Services Image Category leadership

21. © Prentice Hall, 2005 Business In Action 3eChapter 13 - 21 Developing the Marketing Mix Product Price Place Promotion

22. © Prentice Hall, 2005 Business In Action 3eChapter 13 - 22 Develop Product Strategies 1.Generate new ideas 2.Develop and screen concepts 3.Develop marketing strategies 4.Analyze business potential 5.Design and develop products 6.Test the market 7.Commercialize the product

23. © Prentice Hall, 2005 Business In Action 3eChapter 13 - 23 The Product Continuum Tangible –Goods –Products Intangible –Services –Ideas

24. © Prentice Hall, 2005 Business In Action 3eChapter 13 - 24 Consumer Products Convenience products Shopping products Specialty products Unsought goods

25. © Prentice Hall, 2005 Business In Action 3eChapter 13 - 25 Business Products Expense items –Short-term Capital items –Long-term

26. © Prentice Hall, 2005 Business In Action 3eChapter 13 - 26 Uses of Business Products Raw materials Components Supplies Installations Equipment Business services

27. © Prentice Hall, 2005 Business In Action 3eChapter 13 - 27 The Product Life Cycle Introduction Growth Maturity Decline

28. © Prentice Hall, 2005 Business In Action 3eChapter 13 - 28 Product Identities Branding Packaging Labeling

29. © Prentice Hall, 2005 Business In Action 3eChapter 13 - 29 Branding Products Brand names Brand marks Trade marks National brands Private brands Co-branding Generic products

30. © Prentice Hall, 2005 Business In Action 3eChapter 13 - 30 Packaging and Labeling Function –The product –Information –Inventory control Strategy –Display –Differentiation –Appeal

31. © Prentice Hall, 2005 Business In Action 3eChapter 13 - 31 Selecting Products Product Line Line filling Line extension Brand extension Line stretching Product Mix Width Length Depth Risks and rewards

32. © Prentice Hall, 2005 Business In Action 3eChapter 13 - 32 Developing Pricing Strategies Marketing objectives Government regulations Consumer perceptions Consumer demand

33. © Prentice Hall, 2005 Business In Action 3eChapter 13 - 33 Common Pricing Approaches Cost-based Price-based Skimming Penetration Discounting