BUS 346 – Bouvette
* Advantage of brand extention is the name is well known.
* Firms can spend less money on marketing efforts
* Customer acceptance carries over to the other product.
* Used for complementary products
* Cobranding can enhance consumers perception of product quality through links between the firms brand and another well known brand of well known quality.
* Cobranding is the practice of marketing two or more brands together on the same package or promotion
purchase behaviors because they have shared experiences and
are at the same stage of life.
Baby Boomer (1946-1964)
Generation X (1965-1980)
Generation Y (1981-2000) Mileniums
1. Reduced Lead Time
2. Increased Product Availability
3. Lower Inventory Investment
1. Experience Curve Effect
2. Price Skimming
1. Firms must be able to satisfy rapid demand
2. Low prices does not signal high quality
3. Avoid if some people are willing to pay more for the product
2. Store to Buyer (Purchase Information)
3. Buyer to Manufacturer (Order for New Merchandise)
4. Store to Manufacturer (Sales Transaction Data)
5. Store to Distribution Center (Deliveries and Inventory Status)
6. Manufacturer to Distribution Center and Buyer- (Advanced Shipping Notice (ASN) what to expect in the shipment)
• Consumers are influenced by firm’s microenvironment: immediate actions of the focal company, competition, and the corporate partners that work with the firm to supply products/services
• The firm, and thus consumers indirectly, is influenced by the macroenvironment: influences such as culture and demographics, as well as social, technological, economic, and political/legal factors
• One of the goals of value-based marketing is to provide greater value to consumers than competitors offer-> you must look at entire business process from a consumer’s point of view.
• monitor macroenvironment to determine how factors influence consumers and how they should respond to them. Sometimes, firms can even anticipate trends.
2. Conduct a Situation Analysis SWOT: organizational strengths, weaknesses, environmental opportunities and threats. Key learnings from a review of similar prior efforts and additional exploratory market research.
3. Select Target Audience Descriptions of priority target audience including demographics, geographics, readiness to change, relevant behaviors, value and lifestyle, social networks, and community assets relative to the plan’s purpose and focus. Market research findings providing a rationale for targeted audiences, including factors such as size, problem incidence, problem severity, defensiveness, reachability, potential responsiveness to marketing mix elements, incremental costs, and organizational match, relative to the plan’s purpose and area for focus.
4. Set Behavior Objectives and Goals Behaviors and target audience will be influenced to adopt the behavior. Ones that are single and simple with lowest current penetration, highest willingness, and most potential impact. SMART goals quantifying desired behavior outcomes as well as changes in knowledge, beliefs, and behavior intent.
5. Identifying Target Audience Barriers, Benefits, the Competition, and Influential Others Perceived barriers and cost associated with adopting the desired behavior. Potential unique and meaningful benefits that will help influence and sustain targeted behaviors. Competing behaviors/ forces/ choices. Influence of importance to others.
6. Develop a Positioning Statement How we want the priority audience to see the targeted behavior, highlighting unique benefits and the value proposition.
7. Develop a Strategic Marketing Mix (The 4 P’s) Product, Price, Place, Promotion
8. Develop a Plan for Monitoring and Evaluation Purpose and audience for monitoring progress and evaluating final results. What will be measured: inputs, outputs, outcomes, and potential impacts and return on investments. How and when measures will be taken.
9. Establish Budgets and Find Funding Sources Cost of implementing the marketing plan, including additional research and monitoring/evaluation plan. Any anticipated incremental revenues, cost savings, or partner contributions.
10. Complete an Implementation Plan Who will do what, when—including partner and their roles.
1. Perceptual map
2. Ideal points
Top Marketing Databases
reachable media, ads
responsive actually buy
profitable make money
identifiable who is their target segment
•Corporate marketing systems
•Contractual marketing systems
•Administered marketing systems
Get access to
Guarantee No Hidden