Download - EXAM 2 hours open book 3 questions Answer the questions ! Headings & bullet points Start 6pm
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EXAM
• 2 hours open book
• 3 questions
• Answer the questions !
• Headings & bullet points
• Start 6pm
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COMPETITIVE POSITIONS
Middle-of-the-roadDifferentiation Focus
Cost leadership
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CN-1Cateora & Ghauri, International Marketing, European Edition, © 1999 McGraw-Hill
Country Notebook and Marketing Plan
Cultural analysis Economic analysis
Market auditand
competition analysis
Identify marketing components for adaptation
Marketing plan
Positioning PricingProduct Distribution Promotion
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Demand forecasting
Market positioning
Market segmentation
Market targeting
STEPS TO AN
EFFECTIVE
SEGMENTATION OF
THE MARKET
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Factors influencing per capita consumption
• Income ( GDP )
• Relative price .. Price of category versus prices in substitute cagegory
• Advertising expenditure in this market ( total compared to other categories)
• Culture
• Availability ( distribution)
• Other eg. climate
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Estimating Market Demand
Historical DataHistorical Data
Local Production Plus ImportsLocal Production Plus Imports
Expert OpinionExpert Opinion
Irwin/McGraw-Hill
AnalogyAnalogy
8-10
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Market outlook
Market attractiveness model
Competitive intensity outlook
Company capability
Attractiveness
Market profitabilityEnvironmental
Factors
Risk
Ris
k
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Market outlook
Size of total market ( demand)o Size of the segment that you are interested in
Growth of market Potential growth of your target segment
Barriers to entry
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Competitive outlook
How many competitors and what are their strengths? Big well funded? Global players ?
Are competitors competing only on price? How severe is price competition Well funded players about to enter? Many small players damaging market ( poor quality ?)
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Company capability
Ease of entry into market Can we export at low risk , do we need local production
, or local partners if in service sector? Cultural factors ? How risky is the project ? Do we have resources? Do we have the capability to effectively compete in this
market ?
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Market attractiveness- Risks
Risks from business environment External environment STEEP factors Risks that your marketing mix not work ( controllable
though)
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Market attractiveness
Segment profitability.. How much profit can we make and what are the risks to that profit stream ?
Big markets not necessarily attractive Market attractiveness will vary from one company to
another depending upon company capabilities What is the risk profile of your company ? Are your skills transferable from one market to
another ?
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Demographic
Psychographic
Behaviouristic
Geographic
BASES FOR
SEGMENTING
MARKETS
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Market segmentation-behaviorial
• Divides market into groups based upon their knowledge, attitudes or responses to a product
• Occasions- when buying or using• FJ promoted outside breakfast usage• Mothers Day for cards , flowers• Benefit- find the benefits that consumers are looking
for eg.toothpaste• Usage rate- heavy , light buyers eg beer, frequent flyers
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What is a Brand?
A successful brand is an identifiable product, service, person or place, augmented in such a way that the buyer or user perceives relevant,
unique [sustainable]
added values which match their needs most closely.
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Brand Values
• A value is an enduring belief that a specific mode of conduct or end-state of existence is personally or socially preferable to an opposite or converse mode of conduct or end state of existence (Rokeach, 1973)
• Brand values say ‘This is what we believe in and this is how we think our business should be conducted’
• Brand values can– guide behaviour– differentiate the brand from other brands– attract people with similar values
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Brand Essence Pyramid
Tutorial 3 OHT 3.9
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Laddering process to determine brand values
501'sPersonality James DeanValues Self belief Authentic AssuredEmotional Rewards Sexy Original RuggedBenefits Look good Well made StrongAttributes Tight styling Made since 1870 Rivets
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Brand essence to brand positioning
• How do brand owners make their brand stand out against the message clutter ? You are bombarded with messages, many of which you filter out
• Positioning is what you do to the mind of the consumer
• Positioning focuses on the functional aspects of the brand
• Brandowners need to1. Ensure that the brand meets consumers needs by occupying a
distinct, meaningful and valued place in the consumers mind2. Ensure that consumers believe that the brand will meet these needs
better than competitors ( so consumers have to know which category the brand is in )
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Differentiation- ch 10
• Consumers select products / services with greatest percieved value to them
• Competitive Advantage is gained when a brand offers superior value to the target market or by providing equivalent benefits at lower prices
• Strong positions are based upon delivering better quality / value
• Positioning begins with differentiating the brand offer
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brand positioning
• Positioning ( Rossiter & Percy) has 3 elements1. To... ( Target audience)2. X is the brand of.. ( Category )3. That offers ( benefit )
Diet CokeTo weight conscious adults ( target ) Diet
Coke is the brand of diet cola ( category ) that tastes best ( benefit )
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Brand values / personality
• A brand is a cluster of functional & emotional benefits
• Functional benefits can be copied• Competitive advantage in brands often comes
from their emotional benefits& values• Brand positioning focusses on what a brand can
DO for the consumer( functional benefits )• Brand personality focusses on what the brand
SAYs about a consumer & how they FEEL about it
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PROFITABLE
AFFORDABLE
PREEMPTIVE
COMMUNICABLE
SUPERIOR
DISTINCTIVE
IMPORTANT
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Service
Product
Image
Personnel
COMPETITIVE
ADVANTAGE
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Relationship marketing ( RM )- definition
• An organisation engaged in proactively creating, developing and maintaining committed, interactive and profitable excahnges with selected customers ( partners ) over time is engaged in RM– Harker 1999
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The Six Markets Model - Christopher
• Customers
• Referral markets
• Suppliers
• Employees
• Influencers
• Internal markets
Tutorial 3 OHT 3.3
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RM- lifetime value of a customer
• Can be calculated for individual customers ( key accounts), segments of customers, or the average customer
• Objective is to calculate future profitability of customer
• Data needed– Cost of winning customer– Periodic cost of maintaining customer– Gross margin from 1st, 2nd, nth sale – Probability customer will buy 2nd, 3rd, nth time– Number of purchases made by customer from the
company
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The services triangle
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Varying retail structures
• Before deciding distribution strategy need to understand retail structure
• Types of store ( supermarket, dept. store, convenience stores,gas stations, Tabacs, Mom &pop ..)
• Other trade channels .. HORECA
• Concentration
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15-5Cateora & Ghauri, International Marketing, European Edition, © 1999 McGraw-Hill
Choice of channels
Factors InfluencingChoice of Channels
Capital requirement
Character
Control
Coverage Continuity
Cost
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Brands discussed• McDonalds India• Unilever – services• Chocolate market
segmentation• Go, No- frills airlines• Nokia segmentation• P&G segmentation• Oolong Tea
• Nescafe• Panadol China• Colgate• Orangina• Luthansa • Sony camcorder• ManU• Nokia, Pringles, Nike