Professional Documents
Culture Documents
marketing strategy
Introduction The challenges and opportunities of marketing in todays economy Basic marketing concepts Major marketing activities & decisions Taking on the challenges of marketing strategy
Exhibit 1.2
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Discussion Question
Increasing customer power is a challenge to marketers in todays economy. In what ways have you personally experienced this shift in power; either as a customer or as a business person? Is this power shift uniform across industries and markets? How so?
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Prof. Vikram Parekh on Marketing Strategy @2009
Market
A collection of buyers and sellers
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Prof. Vikram Parekh on Marketing Strategy @2009
Metamarket
A cluster of closely related goods and services that center around a specific consumption activity
Metamediary
Provides a single access point where buyers can locate and contact many different sellers in the metamarket
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Prof. Vikram Parekh on Marketing Strategy @2009
Exhibit 1.3
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What is Exchange?
Exchange
Process of obtaining something of value by offering something in return
What is a Product?
Product
Something that can be acquired via exchange to satisfy a need or a want
Examples
Goods Services Ideas Information Digital Products People Places Experiences and Events Real or Financial Property Organizations
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Prof. Vikram Parekh on Marketing Strategy @2009
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Prof. Vikram Parekh on Marketing Strategy @2009
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Prof. Vikram Parekh on Marketing Strategy @2009
Discussion Question
How concerned are you about privacy and security in todays economy? Are you more concerned about online security or about the potential ramifications of RFID technology? Will these issues still be important in 10 years? Explain.
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Prof. Vikram Parekh on Marketing Strategy @2009
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Prof. Vikram Parekh on Marketing Strategy @2009
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Prof. Vikram Parekh on Marketing Strategy @2009
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Prof. Vikram Parekh on Marketing Strategy @2009
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Prof. Vikram Parekh on Marketing Strategy @2009
Exhibit 1.4
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Prof. Vikram Parekh on Marketing Strategy @2009
Taking on the Challenges of Developing Marketing Strategy (1 of 2) Unending Change People-Driven Nature of Marketing Lack of Rules for Choosing Marketing Activities Basic Evolution of Marketing & Business Practice Increasing Demands of Customers Overall Decline in Brand Loyalty & Increase in Price Sensitivity
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Prof. Vikram Parekh on Marketing Strategy @2009
Discussion Question
The text argues that marketing possesses very few rules for choosing the appropriate marketing activities. Can you describe any universal rules of marketing that might be applied to most products, markets, customers, and situations?
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Prof. Vikram Parekh on Marketing Strategy @2009
Increasing Expansion into Foreign Markets Aggressive Cost-Cutting Measures Increasing Cooperation with Supply Chain Partners and Competitors
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Prof. Vikram Parekh on Marketing Strategy @2009
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Prof. Vikram Parekh on Marketing Strategy @2009