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    Fashion Marketing &

    Merchandising PrinciplesMAKING THE CONNECTION

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    Objectives

    Be able to define marketingand discuss its core concepts.

    Be able to define marketing management andcompare the five marketing management orientations.

    Understand customer relationship management andstrategies.

    Realize the major challenges facing marketers in thenew connected millennium

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    Objectives

    Be able to describe the

    marketing process and theforces that influence it.

    Learn the marketing

    management functions,including the elements of the

    marketing plan.

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    Objectives

    Be able to identify the major forcesshaping the new digital age.

    Understand how companies haveresponded to the Internet withe-business strategies.

    Be able to describe the four majore-commerce domains.

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    Objectives

    Be able to define the consumer

    market and construct a simplemodel of consumer buyerbehavior.

    Know the four major factorsthat influence consumer buyer

    behavior.

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    Marketing: ManagingProfitable Customer

    RelationshipsChapter 1

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    What is Marketing?

    Marketing is managing profitable

    customer relationships Attracting new customers

    Retaining and growing current

    customers

    Marketing is NOT synonymous

    with sales or advertising

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    Needs, wants,

    and demands Marketing

    offers:

    includingproducts,services andexperiences

    Value and

    satisfaction

    Exchange,transactions

    andrelationships

    Markets

    Core Marketing Concepts

    What is Marketing?

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    Marketing Management Marketing managementis the art and science of

    choosing target markets and building profitablerelationships with them.

    Creating, delivering and communicating

    superior customer value is key. Customer Management:

    Marketers select customers that can beserved well and profitably.

    Demand Management:

    Marketers must deal with different demandstates ranging from no demand to too muchdemand.

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    Marketing Management

    Productionconcept

    Productconcept

    Selling

    concept

    Marketingconcept

    Societal marketing concept

    Management Orientations

    Marketing Management

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    CRM

    CRMCustomerrelationship

    management. . .is the overall process of building

    and maintaining profitable

    customer relationships bydelivering superior customer

    value and satisfaction.

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    CRM

    It costs 5 to 10 times MOREto attract a new customer than

    it does to keep a currentcustomer satisfied.

    Marketers must be concernedwith the lifetime value of thecustomer.

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    Marketing Challenges

    Technological advances, rapid

    globalization, and continuing socialand economic shifts are causingmarketplace changes.

    Major marketing developmentscan be grouped under the themeof Connecting.

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    Company and

    Marketing Strategy:

    Partnering to Build

    Customer Relationships

    Chapter 2

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    Strategic Planning

    Strategic planning is defined as:

    The process of developing andmaintaining a strategic fit betweenthe organizations goals and

    capabilities and its changingmarketing opportunities.

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    Strategic Planning

    Mission statements should . . .

    serve as a guide for what theorganization wants to accomplish.

    be market-oriented rather thanproduct-oriented.

    be neither too narrow, nor too broad.

    fit with the market environment.

    be motivating.

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    Strategic Planning

    Business portfolio:

    the collection of businessesand products that make upthe company.

    Designing the business portfoliois a key element of the strategicplanning process.

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    BCG Growth-Share Matrix

    Strategic Planning

    High RelativeMarket Share

    HighMarketGrowth

    LowMarketGrowth

    Stars

    CashCows

    QuestionMarks

    Dogs

    Low RelativeMarket Share

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    Product/Market Expansion Grid

    Strategic Planning

    Existing Products New Products

    ExistingMarkets

    NewMarkets

    MarketPenetration

    MarketDevelopment

    ProductDevelopment

    Diversification

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    Marketing in the

    Digital Age: Making

    New Customer

    ConnectionsChapter 3

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    Major Forces Shaping

    the Digital Age

    Digitalization and Connectivity

    The flow of digital informationrequires connectivity

    Intranets, Extranets, and the Internet

    The Internet Explosion

    Key driver of the new economy

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    New Types of Intermediaries

    Brick-and-mortar firms often facedisintermediation from click-onlycompetitors

    The click-and-mortar businessmodel has been highly successful

    Customization and Customerization

    Major Forces Shaping

    the Digital Age

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    Consumer Markets andConsumer Buyer

    BehaviorChapter 6

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    Definitions Consumer Buying Behavior

    Buying behavior of individualsand households that buyproducts for personal

    consumption. Consumer Market

    All individuals/households who

    buy products for personal

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    Stimulus Response Model

    Marketing and other stimulienter the buyers black boxand produce certainchoice/purchase responses.

    Marketers must figure out whatis inside of the buyers blackbox and how stimuli are

    Model of

    Consumer Behavior

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    Characteristics Affecting

    Consumer Behavior

    Cultural

    Social

    Personal

    Psychological

    Groups

    Membership Reference

    Aspirational groups

    Opinion leaders Buzz marketing

    Family Children can influence

    Roles and Status

    Key Factors

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    Brand Personality Dimensions

    Characteristics Affecting

    Consumer Behavior

    Sincerity

    Ruggedness

    Excitement

    Competence

    Sophistication

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    Types of Buying-

    Decision BehaviorDifference

    between brands

    SignificantDifferences

    Complexbuying

    behavior

    Low

    FewDifferences

    Dissonance-reducingbuying

    behavior

    Habitual buyingbehavior

    Variety-seekingbuying behavior

    High

    Involvement Level

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    Five Stages:Need recognition

    Information search

    Evaluation of alternatives

    Purchase decision

    Postpurchase behavior

    The Buyer Decision

    Process

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    Adopter Categories

    Buyer Decision Process

    for New Products

    Innovators

    Early Majority

    Early Adopters

    Late Majority

    Laggards