Please enable JavaScript.
Coggle requires JavaScript to display documents.
BDSM, Cusotomer need and situatuion analysis FÖRELÄSNING 1/2 (A market…
BDSM
Cusotomer need and situatuion analysis FÖRELÄSNING 1/2
Customer need - Is vital to understand
Key succesfactors - to find customers unmet needs.
DIffrent types of needs
Physical
Social - group affiliation
Physological - Self-fulfillment
Identify with: Surveys, intervies, focus groups, observations
Consequneses, defintion of customer need
Market - which market is it? what does it look like?
Industy anayliss and competitors
Substitutes
Desinging the market offer
Pre conditions then and now. Picture
A market
Sellers - Supply
Buyers - demand
Meeting - Physical or virtual
Regulations/Norms - Laws
Other stakeholders
Macro
PESTLE - Politicla, enviormental, economical, legal, technological, social and cultural
Micro
Market - understand market size growth rates and trends
Size, distribution sturcuter, growth, profit potential, cost structure, key critica factors, trends & development
Diffusion of innovations
Industry - learn the rules and structure of the industry
Porters five forces
Key critical success factors
Customer - understand current and prospective customer behaviour
Competitor - evaluate and learn to understand competiotrs strengths, weaknesses and reaction patterns.
Who?
Similar products
Substitutes (Problem solved diffrently)
Generic competitors (Ta bort problemet
Potential entrants
Strength/Weaknesses?
Identify their key success factors.
Rate competitors
Consider impilcations for competitive stratergy
Their strategic objectives and thrust?
Their stratergy?
Response patterns?
Retaliatory - agressive
Slow reactions due to complaency (självgodhet)
Hemmed-in (difficuelties due to stratergies)
Unpredictable (no patricular pattern)
Selectively (Agressive in ceratin areas, such as price)
Company
SWOT
Segmentation Positioning
Why?
More individualistic society
Segments allows to tailor a marketing mix that matches needs.
To differentiate offerings between segments
To improve profitability
Segmenting organisational market
Macro - segmentation (Size, industry, geographic location)
Micro segmentation (choice criteria, Decision-making unit structure, Decision making process, Buy class (straight rebuy, modified rebuy, new task), Purchasing organisation, Organisational innovativeness)
Requierments for effective segmentation.
Measurability - the degree of which the size, purchasing power and profits of a market segment can be measured.
Accesibility - the degree to which a market segment can eb reached and served
Sustainability - the degree to which a market segment is suffiently large or profitable
Actionability - the degree to which effective programmes can be designed for attracting and serving a given market segment
Target marketing
Disaggregated market
Segmented market
Target market - 1, decide which segment to be most atractiv 2. design a marketing mix stratergy for that market.
Positioning
The objective is to create and maintain a destinctive place in the market for a company and its products.
Positioning is the choice of:
Target market (where we want to compete)
Differential advantage (How we wish to compete)
When making a Matrix
Chose what to put on the axis (relevant, useful)
Some combinations are less useful (price and quality)
Two different sides of positioning
Objective side (the real difference, compared with other offers)
Symbolic side (Experience side of offer)
Positiionging stratergy
Clarity
Perseverance and consistancy
Reliability
Competitive
Compete with:
Customer value - businees mission - stratergy FÖRELÄSNING 3.
Business mission - a broadly defined, enduring statement of purpose that distinguishes a business from others of its types.
Not to narrow, not to wide.
Constrained by competence (both actual and potential)
Influenced by macroenviormental change (opportunities and threats)
Influenced by company background and personalitites of its senior managment.
Define mission statement well!
Key element in the marketing planning process
It provides framwork, which opportunities and threats to address and which to disregard.
It provides boundaries
It motivates.
Stratergy
Business stratergy
Business mission
Basic objectives and values in the organization
Defines the business
The organisations reasons to exists
Strategic vission
Gives perspectives
Goes beyond business mission
Strategic objectives
From the organisations mission
Long-term goals
Describes how the long-term goals will be achieved.
Build. Hold. Harvets. Divest.
Customer value = Percieved benefits - Percieved sacrificed
Benefits
Service
Relational
Image
Product
Sacrificed
Monetary cost
Time costs
Energy costs
Psychological costs, risk
Customers satisfaction
Percieved performance compared with the buyers expecatitions
High competitive climate ---> expications needs to be exceeded
KANO MODEL
Customer loyalty
Takes FIVE times more effort to get new customers
To build loyalty
Convience
Quality of service
Social interaction
How to start?
SWOT
Strategic Thrust
Competitive
Target
Organisations against which a company choose to compete directly.
Advantage (is a companies abilite to perform in one or more ways that competitors cannot or will not match.)
Being Better - provide superior quality
Being Faster - anticipate or responding to customer needs faster
Being closer - establish close long-term relationsships.
Substantial - sufficently so that ýou can make a difference?
Sustainable - will it keep competitors from "catching up" quickly?
Expressive - Create an impression that affects buyers
Positioning - superior customer value
Perform advantages - customers satisfaction, loyalty, market shares, profits.
Source to advantages - skills & expertise, resources, effective business processes
Stratergies
Diffreentitation stratergy
selection of one or more criteria used by many buyers - like enviormentalfriendliness
Cost leadership
lowest cost position in an industry (ZARA)
Differentitation focus - specific target market segment
Ferrari, bang&olofsen.
cost focus - specific target market segment.
easyJey, Ryanair
Price
High volume product
Limited product (small adaptations)
Autmation to reduce the unit price
Use of unskilled (low wages) workers
Low cost does not necessarily mean low quality
Quality
Quality is subjective
can be defined differently depending on who is making the judgement.
Aspects to acknowledge:
Product design quality
Process quality
Flexablity
The enviorment changes quickly
Flexibility is needed to meet these changes:
Product flexibility (to suit specific customers requiermetns)
Volume flexability ( ability to decrease/increase volume to meet market demand)
Time
Aspects:
Fast delivery
Shorter time between order and delivery
Rapid product development speed
Using concurrent engineering to shorten time in product development.
Market offer
Product
The ansoff matrix.
What is a new product?
Product replacement
Additions to existing lines
New product lines
New-to-the-world products
Product life cycle
Limitations
Not all products follow this curve
It is the result of marketing activities, not the cause
Unpredictability - no time scale, other than for comparatir products.
same product. other country
When old products resemble new products in terms of consumer acceptance
Product stratergy
Build - build sales and/or market share (Stars and some problem children.
Hold - Hold sales and market shares (Cash cows)
Harvest - When market shares and sales fall, profit margins maximised (some problem children and Dogs)
Divest (When products and sales drop (Some Problem children and Dogs.)
The basic Model
Core product
The product itself
Actual product
Features, quality, styling, package
Augmented product
Installation, delivery, guarantee, brand, service.
Brand
What is a brand?
A relationship (a brand isnt a brand you until it develops an emotional connection with you)
Recognition (Features that commonly is contained in every product with a ceratin brand.) A brand wakes expectations of certain features.
A favorale prejudice
Extra value
Safety
Brand benefits
might build comapny value
High profits ( a good brand name might give room for a price premium)
Consumer preference and loyalty
Barrier to competition
Base for brand extensions
How to build a brand
Naming (Stratergy: Family, Individual or combination. Should be easily remembered, express charecteristics and wake associations
Express the core values within the brand
Communicate the brand values and name with stability and consistency
Defen/Protect the brand and be certain to work actively with sustaining the value
PRice
Is always a important aspect when competing
A lower price brings increased demands
Exoectations for luxury products
Price triangle
Pricing
Hard
Prices talks to us
Expression for quality
Price speaks value
Price changes might have big impacts on customer satisfaction
Pricing is stratergy
Bundilng
Rebate on large volumes
Loyalty rebates
Part of positioning
Pricing methods
Cost oriented (B2B)
What does it cost to produce and sell?
Full-cost or Direct-cost
Minimum price
Competitor-oriented (based on competitors)
Price set due to the influential competitors prices
Going-rate or Competitive bidding.
Market oriented (based on customer)
Price set based on:
Customer value,
Marketing stratergy,
Price-quality relationsships,
Product line pricing,
Negotiating margins,
Political factors,
Costs
, Effects on supply-chain
, Competition,
Explicability.
Maximum of what the customer accepts to pay.
Pricing strategies for product launch
Product life cycle has an impact on pricing
Introduction (skimming or penetrating)
Growth (increased competition, penetration)
Maturity (Stablizied competiton, low prices)
Decline (Sales decrese, Cost coverage)
Price stratergies
Psychological pricing - emotion based pricing.
Odd prices (99sek.)
Habit-based pricing (The customer is used to a certain price)
Prestige pricing (The customer is led to believe that the product is better, if the price is higher)
Bundling (Many products are bundled and given a common price. Charter travels)
Differentiated pricing - different prices for the same product
Promotional pricing (very low prices on selected product which makes consumers come to the stores for addition purchases
Proffesional pricing ( Prices on services. Set percentage, standard price or time-based fees.)
Discounts within B2B (Volume discounts, price related to way of payment)
Services ( People, process, physical evidence)
The nature of services
Scale from pure physical goods to pure services.
Based on people or equipment
Customer participation 0-100%
Characteristics of services
Intangiability
Pure services cannot be seen/tasted/touched/smelled before they are bought/consumed.
Hard to evaluate before purchases
Sometimes hard to evaluate after consumption
Solution: Use tangible cues (photos, testimonials, checklists) Provide evidence of service quality. Physical evidence & processes.
Expressed indirectly
Place
- design that gives a "fast" impression
People
- All employees should give the impression that they are busy working
Equipment
- Modern Communication material - Designed to create the impression of efficency and speed
Symbols and names
- Carefully selected
Simple pricing
Inseparibility
Simultaneous production and consumption
Importance of the service provider
Selection, training and rewarding of people are fundamentally important
Acessible/limited resources
Performed for multiple consumers simultaneously.
Variablility
Execution is dependent on: The person who performs the service. The mood (both supplier and customer The location/situation
Quality control important Follow standardized behaviour Educate your people
Evaluation systems important
Use of reliable equipment to support the service (vending machines, ATMs)
Perishability
Cannot be stored
Hard to match supply and demand. Can be dealt through: Differential pricing - D
Stimulating off-peak demand w new products/special demands -D
Additional services - D
Reservation systems - D
Use part-time staff - Capacity C
Multi-skilling - C
Particular routines (the most important) - C
Participation of consumers - C
Shared resources - C
Managing service quality
Four causes of poor percieved quality
Misconception (we dont understand what the customer expects)
Inadequate resources (We dont/cant provide resources to meet customers expectations
Inadequate delivery (We deliver poor or inconsistent service quality)
Exaggerated promises (we promise more than we can deliver)
Meeting customer expectations
Acess, relatiability, credibility, security, understanding the customer, responsiveness, courtesy, competence, communication and tangibles.
Managing service productivity
Balance between productivity P and quality Q
However there are ways to improve P without comprimising Q
Technology (ATMs increase productivity while reducing waiting time, Bar code scanning in stores)
Customer involvement in production ( Customers can scan themselves, self-service at restaurants)
Balancing supply and demand (see perishability)
Managing service staff
Staff-customer interpersonal relationships is key
Less than 2/3 of people who stop buying a service do it because of staff being indefferent or unhelpful.
Staff can provide vital input for R&D
Place
Distribution channels
Push system - work with the distributors wish to sell
Pull system - work with the "customer" demand.
Might be more profitable for companies to invest in the core activity (instead of investing in distribution)
Wholesalers importance are decreasing in many industries
Channel managment
Select participants
Educate and coach about the product
Motivate
Evaluate
Manage conflicts
Factors influencing channel selection
Market factors (buyer behaviour, geographical)
producer factors (resources)
Product factors
Competitve factors
Intensity in the channel
Intensive (Products that need to aviable at the right time)
Selective (Deeper knowledge about the products, status)
Exclusive (a littke market, higher status)
Channel interaction
Conventional (compete about visibility, place and effort. Push or pull) Push or Pull
Franschising
(Manufacturer - retailer/wholesaler) CARS/Soft drinks
(Wholesaler - retailer) ICA
(Retailer - retailer) some restaurant
Vertical integration (Ownership)
Retailing decisions
Retailin position
Store location
Product assortment
Price level
Atmosphere
Retailing options
Supermarkets
Department stores
Discount houses
Category killers
Convienve stores
Specialty stores
Catalouge stores
Automatic vending
Mail-order
Order retailing
Promotion
integrated market communication
A company's struggle to coordinate different market channels
Message about the company and it´s products must become - clear and attractive
Integrate the following:
Advertising,
Personal selling
Direct marketing
Digital promotions
Sales promotions
Public relations
Develop an integrated communcations campaign
Decide abut what you want to achieve - measurable
Advertising: AIDA (Attention Interest Desire Action)
In advertising: Media choice is importatn
Promotional mix
Mass marketing: Advertising, Sales promotion, Public relations
Direct marketing: Personal selling, Exhibitions, Direct marketing.
Digital marketing: Digital promotions and social media communications.
Influences on the promotional mix
Aviable resources
Push/Pull stratergy
Buyer readniess stage - where in the decission process
Product life cycle
Product characteristics
Market size and concentration
Ways to affect.
Advetising
Awareness building
Repetiotion is effectibe for brand postioning
Impersonal, lacks flexibility and questions cannot be answered.
Decide the goals with the advertisement campaign. (Inform, persuade, remind.)
Budget
Decide stratergy and promotion mix (Message and media)
Evaluate the advertisment.
Sales promotion
Incentives provide a quick boost to sales.
Effect may be short-term
Excessive use may damage brand image
Examples:
Free trial/samples
Cupons Money off - return a advertisement
Bonus packs
Premiums
Loyalty cars
Prize promotions
Personal selling
How it can be done:
Identify prospects
Read about them
Contact
Present
Mange objections
Close the deal
Follow up
Direct marketing
Marketing straight to the customers
Tele marketing
Direct mail marketing
Catalouge marketing
Direct response televiosion marketing (DRTV)
Integrated direct marketing
Digital promotions and social med communicaitons.
Product placement/
Sponsorship
/exhibitions.
Often high credibility and no costs
Can+t control (If real PR)
Increasing on internet:
Sites for evaluating companies
Blog/influencers
Discussion groups etc.
Can help association with favorable charecteristics
Also exhibitions and product placement.
Public relations
Cheaper than advertisement
Trustworthy
The company has to put in a lot of work effort - can´t pay for the space.
Strengthens the brand
Different activites:
Product publicity
Relations with media
External and internal information
Lobbying
Purpose with PR:
Form interest around the product
Influence target segments
Repositioning products that has reached maturity
Implications for marketing - From digital technologies
Globalization of markets and competition
Established brands
Virtual merchants
Disintermediators
Continious tradin
Remote and mobile working changes behavioural patterns
Audiences Changes in power distribution (Porters five forces) Information is wide-spread/distributed in different patterns Individual targeting is possible (via cookies) GDPR influences.
What do we want to achieve?
Grow sales - wider distribution, greater product range
Add value - Greater convience, 24/7 access, more information
Get closer to customers - online market research, monitor chatrooms.
Save costs
Extend the brand online
Digital marketing tools
Online advertising and search engine marketing
Online videos and interactive television marketing
Content marketing
Right content affects the customers conversion rates
Social media
Many different platforms - Different customers
Types of social media activity
Community, publishing, commerce, engagement (games)
Business 2 Business/Customer B2B, B2C
B2C
Who?
Initiator - starts the buying process
Influencer - attempts to persuade others
Decider - has the power/financiaö authority
Buyers - conducts the transaction
User - uses/consumes the product
How?
What
Where?
When?
Stages in the buying process
Need recognition - problem awareness
Needs and problems that the customer face
Need inhibitors - potential stoppers
Needs stimulation - encourage purchases
Information search
Internal search
External search (Friends and family, commercial sources)
Third party reports (product-testing reports, internet, demonstations)
Evaluation of alternatives
High involvement situations
Low involvement situations
Purchase
Post purchase, evaluation of decision
Aim is to create customers satisfaction.
Cognitive dissonance - after buying decisions. (Uncertainty of making the right decision, rejection of alternativs with attractive features.)
Dissonance is likely to increase. (with expense, difficult decisions, when decision is irrevocable, when they experience anxiety)
Customer needs reassuarnce
B2B
different in scale risk an complexity
ten most important B2B account for 70-80% of the sales
Higher transactions than B2C
Less numbers of transactions
Each individual is unique
Who makes the buying decisions?
Initiators - starts the buying process (maintainance managers)
Users - (welders)
Deciders - have the authoity to select supplier (production manager)
Influnencers - provide information and add decision criteria throughout the process (accountants)
Buyers - have the authority to execute the contractual arrangements (purchasing officer)
Gatekeepers - control the flow of information (Secretary)
Stages in the buying process
Recognintion of a problem (need)
Determination of specification
Search for potential sources
Acquisition and analysis of proposals
Evaluation of proposals and selection of suppliers
Selection of an order routine
Performance feedback and evaluation
Choice criteria
Quality
PRice and lifecycle costs
Continiutity of supply (Just-in-time & Lean production)
Percieved risk (functional and/or psychological)
Office politics
Personal liking/disliking
Different types of purchases
New tasks - no or little precious experience in company, lots of inofrmation is needed.
Starigth rebuy - when buying previously purchased items from judged and accepted suppliers
Modified rebuy - inbetween.
Relationships marketing - key concepts
Core service
Relationsship quality
(creating loyalty, service quality, trust, commitment, satisfaction.)
Building relationsships
Technical support
Expertise
Resoruce support
Service levels
Risk redution
Benefits for the organization
Increased purchases
Lower cost
Lifetime value of a customer
Sustainable competitive advantage
Word of mouth
Employee satisfaction -> lower job turnover
Benefits for the customer
Risk and stress reduction
High-quality service
Less switchig costs
Benefits - social and status
B2B relationship development stratergies
(KAM - key account managment)
Close working relationships with customers
Improved communication
Penetration of DMU (decision making unit)
Higher and better follow-on sales
Collaboration and joint projects
Cost savings
CSR - corporate social responisiblity - business models
Föreläsning
Business models
Why a business model?
All it really means is how you plan to make money.
Answeres to the question: "How do we make money now and in the near future from a given business opportunity"
A tool for exploring and explaining the business idea.
The good business model
Superior customer value proposition
what does the customer value?
Who are our customers?
What is our value propsistion?
Do customers understand our value?
Key internal/external resources
What resources and skills are necessary?
Who provides these resources
If not "in-house" how do we get access to vital resources? Who do we need to cooperate with?
Key tasks and processes
What activities and processes are necessary to offer superior customer value?
How do we reach our customers?
Our relationship with customers - what do they look like?
Value appropriation
How do we make money on this business idea?
What does the cost structure looks like?
What does the revenue strems look like?
The business model canvas
value propositions
What value do we deliver?
Which one of our customer's problems are we helping to solve?
What bundles of products and services are we offering to each customer segmen?
Which customer needs are we satisfying?
Customer segment
For whom?
Who are our most important customers?
customer relationships
What type of relationships does each of our customer segments expect us to establish and maintain with them?
Which ones have we established?
How are they integrated with the rest of our business model?
How costly are they?
Channels
Through which channels do our customer segments want to be reached?
How are we reaching them now?
How are our channels integrated?
Which ones are work best?
How are we integrating them with customer routines?
Which ones are most cost-efficent?
How are we integrating them with customer routines?
Revenue streams
For what value are our customers really willing to pay?
For what are they currently paying?
How are they currently paying?
How would they prefer to pay?
How much does each Revenue Stream contribute to overall revenues?
Key activities/resources
Our distribution channels?
Customer relationsships?
Revenue streams?
Cost structure
What are the most important costs inherent in our business model?
Which Key Resources are most expensive?
Which Key Activities are most expensive?
CSR
Marketing ethics
the moral priniciples and values that governs a firms behaviour
Business ethics
Marketing ethics
Stakeholder theory
The pyramid of social responsibility
Dimensions of CSR
Physical enviorment (Sustainable marketing)
Social (community involvement)
Consumer (societal marketing)
Supply chain (fair trade marketing)
Employee relations (internal marketing)
Arguments for/against CSR
FOR: Leads to enhance corporate image. - Provides marketing opportunities. - Increases organistations ability to attract employees. - Improve access to capital.
AGAINST: - Misguided - Does not improve profietablility - is too costly - encourages consumer cynicism.
Mkaret research and Business Intelligence (The actionable knowledge produced by the analysis of big data)
Marketing information systems
Marketing is: A system in which marketing information is formally gathered, stored, analyzed and distributed to managers in accord with their information needs on a regular basis
Data - Information - Knowledge
Data is facts, raw numbers
Information if processed/interpreted data
Knowledge is personalized information
Internal continious data
Financial data
Profitabaility (product, customer, distribution channel)
customer behaviour
Internal ad-hoc data
Data for a specific/ad-hox purpose
Changes due to promotion activites
Introduction of new products
Enviormental scanning
Data related to macroenviorment
Monitor changes in macroenviorment
Long-term perspective
Marketing research
Data related to markets and markets offers
Shorter-term perspective
External continous data sources (via e-commerce/apps) or ad-hoc data.
Market researcj
Types of marketing research
Ad-hoc research
Custom designed studies
Omnibus studies - part of bigger/multiclient studies
Continious research
Consumer panels - Diaries
Retail audists - store sales data via barcode scanning
Television viewership panels - viewer stats/behvaiour
Marketing database - Loyalty cards/club memberships
Stages in marketing research process
Research planning
Intial contact (with the one performing market research)
Research brief (requierments when having someone else performing market research on your behalf.
Research proposal (Objective - what will be done - timetable - costs)
Exploratary search
Preliminary exploration of a research area prior to the main data-collection stage
Used to avoid quality deficiencies (asking wrong people, wrong questions, in too little detail)
Can be performed as secondary research, qualititve research, consultations, observations
Data analysis and interpretation.
Descriptive and interpratition
Software (SNAPS, SPSS)
Take care when interpreting results! don´t infer cause and effect.
Web analytics. (Google analytics)
Report writing and presentation
Data sources and qualititve research
Primary/secondary data
Qualititve research ( the analysis and understanding of patterned conduct and social process of society)
Focus groups/Consultations with experts/observations
Quantative research
Descriptive research - to describe study objects beliefs, preferences, behaviour
Experimental research - to establish cause-and-effect relationships.
Sampling process
Define the population
Sampling frame - list of people from which the sampling can be made.
Sampling methods
Simpe random. Everyone has equal chance
Stratified randow - Population is divided in groups. then simple random sampling
Quota sampling - For large populations. Sample based on quotas/distribution of people in the population.
Sampling size - balancing between sampling error and costs.
Survey methods
Personal (face to face. Telephone. Video interviews)
Non personal (traditional mail, digital survey)
Questionnaire design.
Conditions to get a true response
(Understand, able to provide, willing to answer)
Develop a questionnaire.
Planning
Design
I know this.
Ethical issues
Cambride analytice
Intrusion of privacy
Misuse of findings - looking to confirm something
Selling while calling it marketing research - starts out as a survey, but....
Substitutes
Suppliers
Buyers
Potential Entrants
Degree of rivaltry
Abstraktions nivån går alltså uppåt. Först produkt. Sen lösa det på annat sätt. sedan helt ändra problemet.
