Building Your Personal Brand on LinkedIn - Expert Planet- 2024
Introd to-
1. Chapter 3 Objectives
The Marketing Environment
Describe the environmental forces that affect the
company's ability to serve its customers.
Explain how changes in the demographic and
economic environment affect marketing decisions.
Identify the major trends in the firm's natural and
technological environments.
Explain the key changes in the political and
cultural environment.
Discuss how companies can react to the
marketing environment.
7. Demographics:
Changing Age Structure in Canada
Median age up from 25 to 38 in 30
years
Long-term slowing of birth rate (1.55)
Increasing life expectancy
“Baby dearth” of the 70’s
Population bulge due to baby boom
Growth rates vary for different age
groups
9. Demographics
BOOMERS
40 plus age now 45% bigger than 18-30 group
…will be 60% bigger by 2010
1989 40+ became biggest adult segment in history
Control 50%+ of discretionary spending
Control 75% of nation’s wealth
About to inherit largest intergenerational wealth
transfer in history
10. Demographic Environment:
Increasing Diversity
Ethnicity:
Ethnic purchasing power
$300 billion
Growing market size
Avoid stereotyping
Use native languages
Choose ethnic media
Sexual orientations
Disabilities
20. Chapter 18 Objectives
Marketing and Society
Identify the major social criticisms of
marketing.
Define consumerism and
environmentalism and explain how they
affect marketing strategies.
Describe the principles of socially
responsible marketing.
Explain the role of ethics in marketing.
21. Social Criticisms of Marketing
Marketing’s Impact on Consumers
High Prices * Deceptive Practices * High-Pressure Selling
Shoddy Products * Planned Obsolescence * Poor Service
22. Social Criticisms of Marketing
Marketing’s Impact on Society
False Wants/Too Much Materialism * Too Few Social Goods
Cultural Pollution * Too Much Political Power
23. Consumerism
The right to safety
Right to be informed
The right to choose
The right to be heard
The right to redress
against damage
The right to consumer
education
Consumer’s Association of Canada Fundamental Rights
24. Chapter 4 Objectives
Marketing Research and Information Systems
Explain the importance of information to the
company.
Define the marketing information system and
discuss its parts.
Outline the four steps in the marketing research
process.
Compare the advantages and disadvantages of
various methods of collecting information.
Discuss the special issues some marketing
researchers face.
25. Measuring & Forecasting Demand
1. As marketing manager for Cat's Pride cat litter,
you have seen sales jump 50 percent in the last
year after years of relatively stable sales.
Explain how you will forecast sales for the
coming year.
2. What are some leading indicators that might
help you predict sales of diapers, cars, and
hamburgers. Can you describe a general
procedure for finding leading indicators or
product sales?
26. The Importance of Information
Research Needs
Marketing
Environment
Customer
Needs and Wants
Strategic
Decision Making
Competitors
27. Should you do Research?
NO if:
being done before financial analysis complete
a way to avoid making a decision
results are not going to change your plans
cheaper to try idea than conduct research
YES if:
data will be useful in a very specific way
you can get the information you need to make
decisions
you can’t afford to make an uniformed decision
you must convince others of something you already
know
29. Step 1: defining the problem
& research objectives
Exploratory research
preliminary information
helps better define problem
Descriptive research
expand understanding of factors
Causal research
test cause and effect hypothesis
30. Step 2: developing the plan for
collecting information
Determine Specific Information Needs,
e.g.
Target customer characteristics
Patterns of product use (which day-
part?)
Demand factors
Response of marketing channels
Customer reactions
Projected sales
31. Step 2: developing the plan for
collecting information
Gathering Secondary Data
internal sources
government sources
books and periodicals
commercial data services
international data
on-line databases and the internet
syndicated research studies
32. Step 2: developing the plan for
collecting information
Gathering Primary Data
Research Approaches
Observational
Survey: phone, mail, in-person
Experimental
33. Primary Data Collection
Contact Methods: strengths & weaknesses
Mail Questionnaire
Telephone Interview
Personal Interview
Large volume, Low cost
Honest answers, Slow,
Not very flexible
Fast, Controlled sample,
Flexible, Higher Response,
More expensive, Bias
Very flexible, Fast,
Very expensive, Bias
34. Step 3: implementing the
research plan
Plan is put into action
most expensive part of the process so:
1) important to watch for interviewer bias
2) accuracy
35. Step 4: interpreting and
reporting findings
Present important findings
Company ultimately must decide on
correct interpretation and how to
proceed
36. Difficulties in Asking Questions of
Consumers
Do they really know whether they are
likely to buy a particular product?
Even if they know the answer, will they
tell you?
Will their actual purchase behaviour
mirror their stated interests/intentions?
37. Chapter 5 Objectives
Consumer Markets and Consumer Buying
Behaviour
Define the consumer market and construct
a simple model of consumer buyer
behaviour.
Name the four major factors that influence
consumer buyer behaviour.
List and understand the stages in the buyer
decision process.
Describe the adoption and diffusion process
for new products.
45. Types of Buying Behaviour
Complex
buying
behaviour
Variety-
seeking
behaviour
Dissonance
reducing
behaviour
Habitual
buying
behaviour
Low involvement
High involvement
Significant
differences
between brands
Few differences
between brands
46. Adopter Categorization:
relative time of adoption
Time of adoption of innovations
2.5%
Innovators
34%
Early
majority
34%
Late
majority
Early
adopter
s
13.5%
16%
Laggards
47. Chapter 6 Objectives
Business Markets and Business Buying
Behaviour
Define the business market and explain
how business markets differ from consumer
markets.
Identify the major factors that influence
business buyer behaviour.
List and define the steps in the business
buying-decision process.
Compare the institutional and government
markets and explain how institutional and
government buyers make buying decisions.
53. Business Buying Influences
Level of
primary demand
Economic
outlook
Cost of money
Supply
conditions
Rate of techno-
logical change
Political,
regulatory
developments
Competitive
developments
Objectives
Policies
Procedures
Organizational
structure
Systems
Authority
Status
Empathy
Persuasive-
ness
Age
Education
Occupation
Personality
Risk attitudes
Environmental
Interpersonal
Organizational
Individual
54. Business Buying Process
1. Problem Recognition
2. General Need Description
3. Product Specification
4. Supplier Search
5. Proposal Solicitation
6. Supplier Selection
7. Order Routine Specification
8. Performance Review
55. Institutions & Government
Institutional Markets
Government Markets
Low Budgets
Captive
Patrons
Centralized
Buying
Submitted
Bids
Public
Review
Outside
Publics
Non-economic
Criteria
56. Chapter 7 Objectives
Segmentation, Targeting, Positioning
Define the three steps of target marketing:
segmentation, targeting, positioning.
List and discuss the major levels of market
segmentation and the bases for segmenting
consumer and business markets.
Explain how companies identify attractive
market segments and choose a market-
coverage strategy.
Explain how companies can position their
products for maximum competitive
57. Steps in Market Segmentation,
Targeting, and Positioning
Market segmentation
1. Identify bases for
segmenting the market
2. Develop profiles of
resulting segments
Market targeting
3. Develop measures of
segment attractiveness
4. Select the target
segment(s)
Market positioning
6. Develop marketing mix
for each target segment
5. Develop positioning
for each target segment
59. Segmenting:
geographic base
Divide market into
separate geographic
units
Nations, regions
provinces, cities,
neighbourhoods,
etc.
Develop appropriate
marketing programs
60. Segmenting: demographic base
Most popular
method
Divide market into
groups based on:
age
sex
family size & lifecycle
income & occupation
education
religion
ethnic background
61. Demographics - age
14% of population over
65
90% of 50+ are debt free
48% of all luxury cars
sold are purchased by
50+ group
50+ age group controls
80% of Canada’s
personal wealth up have
2/3 of disposable income
25% of population
62. Segmenting:
psychographic base
Social class
determines choice of
home, car, clothes,
leisure habits, etc.
Lifestyle
reflected in purchases
e.g. couch potatoes,
sports enthusiasts, or
symphony lovers
Personality
express who they are
65. Requirements for
effective segmentation
Measurability - size, purchasing power,
profiles of segments
Accessibility - effectively reach and serve
Substantiality - segments are large or
profitable enough to serve
Actionability - effective programs can be
designed to attract segments
69. Positioning Strategy:
choosing and implementing
Communicate and
deliver chosen position
Select the right
competitive advantage
Identify possible
competitive advantage
Select an overall
positioning strategy
71. Positioning Statement
For (target customer)
Who (statement of need or
opportunity)
The (product name) is a (product
category)
That (statement of key benefit)
Unlike (primary competitive
alternative)
Our product (statement of primary
72. Chapter 8 Objectives
Product Strategies
Define product and the major classifications
of products and services.
Describe the roles of product and service
branding, packaging, labelling, and product
support services.
Explain the decisions companies make
when developing product lines and mixes.
Identify the four characteristics of a service.
Discuss the additional marketing
considerations that services require.
73. Levels of Product
Core
benefit
or
service
Augmented product
Installation
After-
Sale
service
Delivery
and
credit
Warranty
Brand
name
Quality
level Design
Features
Packaging
Core product
Actual product
8-1
77. Product Support Services
Services that augment the actual product
e.g. 1-800 support for software program
e.g. web/Internet technical support
78. Branding
Name, term, sign,
symbol or design or a
combination intended
to identify goods or
services of a seller or
group to differentiate
them from
competitors
79. Brand Name Selection:
desirable qualities
Suggest benefits
and qualities
Easy to pronounce
recognize &
remember
Distinctive
Translated easily
Capable of
registration & legal
protection
Craftsman
80. Major Branding Decisions
To brand or
not to brand
• Brand
• No brand
Brand name
selection
Brand sponsor
Brand strategy
Brand
repositioning
• Selection
• Protection
• Manufacturer’s brand
• Private brand
• Licensed brand
• Co-branding
• New brands
• Line extensions
• Brand extensions
• Multibrands
• Brand repositioning
• No brand repositioning
Figure 8- 3
81. Value of Branding
Helps consumers
shop more
efficiently
Aids repeat
purchase
Suggests quality
of product
Creates store
loyalty
Gives legal
protection
Helps in
segmenting
markets
Symbol of ongoing
promise
Buyer’s viewpoint Seller’s viewpoint
82. Packaging/Labelling
What should the
package do for the
product?
identify, describe,
and promote
Elements support
position & strategy
Environmental
issues?
83. Chapter 9 Objectives
New Product Development and Life Cycle
Strategies
Explain how companies find and develop
new product ideas.
List and define the steps in the new-product
development process.
Describe the stages of the product life
cycle.
Describe how marketing strategies evolve
during the product’s life cycle.
84. New Product Development Process:
Idea generation
Idea screening
Concept
Development
& testing
Marketing
strategy
9-1
85. Marketing Strategy Development
Part one
Target market
Planned product positioning
Sales, market share and profit goals (short term)
Part two
Outline price, distribution and first year marketing budget
Part three
Planned long-run sales
Profit goals
Marketing mix strategy
86. New Product Development Process:
Idea generation
Idea screening
Concept
Development
& testing
Marketing
strategy
Business
analysis
Product
development
Commercialization
Test marketing
9-1
87. Why do new products fail?
Overestimated
market or target
market is too small
Poor design
Poor product quality
Incorrect
positioning
Error in pricing
Poor marketing
communication
93. Chapter 10 Objectives
Pricing Strategies
Identify and define the internal factors
affecting a firm’s pricing decisions.
Identify and define the external factors
affecting pricing decisions.
Contrast the three general approaches to
setting prices.
Describe the major strategies for pricing
new products.
Discuss the key issues related to price
changes.
102. New Product Pricing Strategies
setting a high price to
maximize revenue
makes sense when:
product quality and image
supports a higher price
costs of producing a small
volume are not too high to
cancel the advantage of
charging more
company has a patent or
technological advantage
Market Skimming
103. Setting a low price to attract a large number
of buyers and gain a dominant market
share
makes sense when:
market is highly price sensitive (low price
stimulates sales and market growth)
production costs must fall as volume increases
low price must be an effective entry barrier for
competitors
New Product Pricing Strategies
Market Penetration
108. Chapter 11 Objectives
Distribution Channels and Logistics
Management
Explain why companies use distribution
channels and explain the functions that
these channels perform.
Discuss how channel members interact and
organize to perform the work of the
channel.
Identify the major channel alternatives.
Discuss the nature and importance of
physical distribution
Analyze integrated logistics management.
109. Chapter 12 Objectives
Retailing and Wholesaling
Explain the roles of retailers and
wholesalers in the distribution channel.
Describe the major types of retailers and
give examples of each.
Identify the major types of wholesalers and
give examples of each.
Explain the marketing decisions facing
retailers and wholesalers.
112. Hybrid Marketing Channel
Consumer
segment 1
Business
segment 1
Consumer
segment 2
Business
segment 2
Retailers
Dealers
Distributors
Producer
Catalogues, telephone
Sales force
113. Distribution Channel Functions
Information: gathering and distributing
marketing research
Promotion
Contact: finding and communicating with
prospective buyers
Matching offers to buyer’s needs
Negotiation
Physical distribution, financing, risk taking
114. Why Use Marketing Intermediaries?
An intermediary reduces the number of channel transactions
# of contacts without a distributor
M x C = 3 x 3 = 9
# of contacts with a distributor
M x C = 3+ 3 =6
117. Chapter 13 Objectives
Integrated Marketing Communication Strategy
Name and define the five tools of the
promotion mix.
Discuss the processes and advantages
of integrated marketing
communications.
Outline the steps in developing effective
marketing communication.
Explain the methods for setting the
promotion budget and factors that affect
the design of the promotion mix.
121. Marketing Communications Mix
Personal Selling
personal presentation by a firm’s
sales force
for the purpose of making sales and
building customer relationships
122. Marketing Communications Mix
Public Relations
free placement of a message in the
media
on-going process of building good
relations with the company’s various
publics by:
obtaining favourable publicity
building a good corporate image
handling stories or events
heading off unfavorable rumours
123. Marketing Communications Mix
Direct Marketing
direct communications with carefully
targeted individual consumers
to obtain an immediate response
using mail, telephone, fax, e-mail and
other non-personal tools
124. 1. Identify the target audience
Steps in Developing
Effective Communication
125. 1. Identify the target audience
2. Determine the desired response
Steps in Developing
Effective Communication
127. 1. Identify the target audience
2. Determine the desired response
3. Design a message
Steps in Developing
Effective Communication
128. Designing a message
Message Content
rational - emotional - moral appeal?
Message Structure
open vs. conclusion?
one side or two sides?
Message Format
words - images - colour - sounds -
expressions?
129. 1. Identify the target audience
2. Determine the desired response
3. Design a message
4. Choose the media
Steps in Developing
Effective Communication
130. Choosing media
Personal channels
face to face, phone, email, mail
allows personal contact and feedback
Non-personal channels
major media e.g. print, radio, tv, etc.
no personal contact or feedback
Opinion leaders key to reaching
others
131. Choosing Advertising Media
1. Reach
# of people in your target market reached
2. Frequency
how often people in your target market
see your promotions
3. Impact
132. 1. Identify the target audience
2. Determine the desired response
3. Design a message
4. Choose the media
5. Select the message source
Steps in Developing
Effective Communication
133. Selecting the message source
Credible sources more
persuasive
Credible people, e.g.
doctors, dentists, health-
care providers
Celebrity endorsers
134. 1. Identify the target audience
2. Determine the desired response
3. Design a message
4. Choose the media
5. Select the message source
6. Collect feedback
Steps in Developing
Effective Communication
135. Setting the Promotion Budget
Affordable method
Percent of sales
Competitive parity
Objective and task
136. Chapter 14 Objectives
Advertising, Sales Promotion and Public
Relations
Define the roles of advertising, sales
promotion, and public relations in the
promotion mix.
Describe the major decisions involved in
developing an advertising program.
Explain how sales promotion campaigns
are developed and implemented.
Explain how companies use public relations
to communicate with their publics.
141. Campaign evaluation
Communication
impact
Sales impact
Message decisions
Message strategy
Message execution
Budget decisions
Affordable approach
Percent of sales
Competitive parity
Objective and task
Objectives setting
Communication
objectives
Sales
objectives
Media decisions
Reach, frequency, impact
Major media types
Specific media vehicles
Media timing
Figure 15-1
Major Advertising Decisions
142. Stage in
Product
Life Cycle
Push or Pull
Setting the Promotion Mix
Factors in Setting the Promotion Mix
Type of Market
Buyer
Readiness
143. Relative importance Relative importance
Advertising
Sales promotion
Personal selling
Public Rel.
Personal selling
Sales promotion
Advertising
Public Rel.
Consumer Goods Industrial Goods
Type of Market
144. Stage in
Product
Life Cycle
Push or Pull
Setting the Promotion Mix
Factors in Setting the Promotion Mix
Type of Market
Buyer
Readiness
145. Push versus Pull Strategy
Retailers and
Wholesalers
Consumers
Consumers
Retailers and
Wholesalers
Producer
Producer
Producer
marketing activities
Reseller
marketing activities
Push strategy
Pull strategy
Producer marketing activities
Demand Demand
146. Stage in
Product
Life Cycle
Push or Pull
Setting the Promotion Mix
Factors in Setting the Promotion Mix
Type of Market
Buyer
Readiness
147. Chapter 15 Objectives
Personal Selling
Discuss the role of a company’s
salespeople in creating value for customers
and building customer relationships.
Explain how companies design sales force
strategy and structure.
Explain how companies recruit, select, and
train salespeople.
Describe how companies compensate and
supervise salespeople and how they
evaluate sales-force effectiveness.
148. Steps in Effective Selling
Prospecting
and
qualifying
Pre-approach Approach
Presentation
and
demonstration
Follow-up
Closing
Handling
objections
149. Chapter 16 Objectives
Direct and Online Marketing
Discuss the benefits of direct marketing to
customers and companies and the trends fuelling
its rapid growth.
Define a customer database and list the four ways
that companies use databases in direct
marketing.
Identify the major forms of direct marketing.
Compare the two types of online marketing
channels and explain the effect of the Internet on
e-commerce.
Identify the benefits of online marketing to
consumers and marketers and the four ways that
150. What is Direct Marketing?
Communications
with carefully
targeted individual
consumers to obtain
an immediate
response
Cultivate relationships
Often one-to-one
interactive
Precise targeting
More effective results
152. Chapter 8 Objectives
Product Strategies
Define product and the major classifications
of products and services.
Describe the roles of product and service
branding, packaging, labelling, and product
support services.
Explain the decisions companies make when
developing product lines and mixes.
Identify the four characteristics of a service.
Discuss the additional marketing
considerations that services require.
159. Services are Different
SERVICES
Intangible
services cannot be seen,
tasted, felt, heard or
smelled before purchase
Variable
quality of services
depends
on who provides them
and
when, where and how
Inseparable
services cannot be
separated from their
providers
Perishable
services cannot be stored
for later sale or use
161. Chapter 17 Objectives
The Global Marketplace
Discuss how the international trade system,
economic, politico-legal, and cultural
environments affect a company’s
international marketing decisions.
Describe three key approaches to entering
international markets.
Explain how companies adapt their
marketing mixes for international markets.
Identify the three major forms of
international marketing organization.
162. Deciding
Whether to go
international
Deciding
which markets
to enter
Looking at the
global marketing
environment
Deciding on the
global marketing
program
Deciding on the
global marketing
organization
Deciding how
to enter the
market
Major Decisions in
International Marketing
164. Global Marketing Environment
Economic Environment
Income distribution
Industrial structure:
- subsistence economies
- raw-material exporting
economies
- industrializing economies
- industrial economies
165. Global Marketing Environment
Politico-Legal & Ethical
Environment
Attitude toward foreign businesses
Extent of government bureaucracy
Political stability
Monetary regulations
Countertrade
Compensation
Counterpurchase
166. Global Marketing Environment
Cultural Environment
Language, customs
Folkways, norms, taboos
Business norms & behaviour
e.g. Personal distance
e.g. Meeting and greeting
167. Deciding
Whether to go
international
Deciding
which markets
to enter
Looking at the
global marketing
environment
Deciding on the
global marketing
program
Deciding on the
global marketing
organization
Deciding how
to enter the
market
Major Decisions in
International Marketing
168. Deciding
Whether to go
international
Deciding
which markets
to enter
Looking at the
global marketing
environment
Deciding on the
global marketing
program
Deciding on the
global marketing
organization
Deciding how
to enter the
market
Major Decisions in
International Marketing
169. Deciding
Whether to go
international
Deciding
which markets
to enter
Looking at the
global marketing
environment
Deciding on the
global marketing
program
Deciding on the
global marketing
organization
Deciding how
to enter the
market
Major Decisions in
International Marketing
170. Market Entry Strategies
Exporting
Direct
Indirect
Joint venturing
Licensing
Contract manufacturing
Management contracting
Joint ownership
Direct investment
Assembly facilities
Manufacturing
facilities
Amount of commitment, risk, control, and profit potential
171. Deciding
Whether to go
international
Deciding
which markets
to enter
Looking at the
global marketing
environment
Deciding on the
global marketing
program
Deciding on the
global marketing
organization
Deciding how
to enter the
market
Major Decisions in
International Marketing
174. Deciding
Whether to go
international
Deciding
which markets
to enter
Looking at the
global marketing
environment
Deciding on the
global marketing
program
Deciding on the
global marketing
organization
Deciding how
to enter the
market
Major Decisions in
International Marketing
175. Global Marketing Organization
Methods of Organizing
International Marketing Operations
Export
Department
International
Division
Global
Organization
Notes de l'éditeur
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For further details about this topic see page 100
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For further details about this topic see pages 110-114
For further details about this topic see pages 116-119
7
The Decima Index of Consumer Confidence is based upon a series of survey questions that ask respondents about their perceptions of current and future economic conditions. The data from these questions are combined using a formula to calculate a single number - the Index of Consumer Confidence. Several of these questions that focus on the future are combined using a different formula to calculate the Index of Consumer Expectations.
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For further details about this topic see pages 657-658
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For further details about this topic see pages 661-662