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7/27/2019 Chapter 14 Revised
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PowerPoint Presentation by Charlie Cook
The University of West Alabama
Copyright 2006 Thomson Business & Professional Publishing.
All rights reserved.
Part 4 Focusing on the Customer:
Marketing Growth Strategies
Product and SupplyChain Management
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Copyright 2006 Thomson Business & Professional Publishing. All rights reserved. 144
To Grow or Not to Grow
Growth sufficient to maintain the status quo is agoal of some entrepreneurs.
Growing a business too quickly can be stressful
for the small firm.
A growth trap may occur when a firms growth
soaks up cash faster than it can be generated.
Growth also puts pressure on a small firms
personnel.
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Copyright 2006 Thomson Business & Professional Publishing. All rights reserved. 145
Innovation: A Path to Growth
Competitive Advantage and InnovationInnovation and entrepreneurship often go hand-in-
hand.
Coming up with and perfecting new products or
services is often not easy.The risk of failure increases when innovation is the
goal.
Innovation is a means by which a firm can sustain its
competitive advantage.
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Copyright 2006 Thomson Business & Professional Publishing. All rights reserved. 148
The Competitive Advantage Life Cycle
Develop
Deploy
Decline
Stage 1 Stage 2 Stage 3
Time
Exhibit 14.1
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Sustaining Competitive Advantage
Exhibit 14.2
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The Product Life Cycle
Exhibit 14.3
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Building the Total Product
BrandingA verbal and/or symbolic means of identifying a
product
Brand Name
A brand that can be spoken (tangible)
Brand Mark
A brand that cannot be spoken (tangible)
Brand ImageSymbolic (Intangible)
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Components of a Brand Identity
Exhibit 14.4
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Building the Total Product (contd.)
Designing a Logo:Be simple.
Leave it open to interpretation.
Be relentlessly consistent.
Dont be embarrassed about
design.
Get good advice.
Dont expect miracles.
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Protecting the Product Offering
TrademarkAn identifying feature used to distinguish a
manufacturers product
Service Mark
A legal term indicating theexclusive right to use a
brand to identify a serviceVinnies
Villa
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Building the Total Product (contd.)
PackagingColor, design, and protection for the product
Labeling
Shows the brand and informs the consumer about
product features and care
Making Warranties
A promise that the product will perform at a certain
level or meet certain standards
Implied and written warranties
Policy considerations: Cost, service capability, competitivepractices, customer perceptions, legal implications
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Copyrights Trade Dress
Trademarks Patents
Ways of Protecting Intangible Assets
Protecting Marketing Assets
Exhibit 14.7
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Supply Chain Management
Supply Chain ManagementA system of management that integrates and
coordinates the means by which a firm creates or
develops a product or service and delivers it to
customers
Distribution
Physically moving products and establishing
intermediary relationships to support
such movement
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Supply Chain Management (contd.)
Physical Distribution (Logistics)The activities of distribution involved in the physical
relocation of products
Channel of DistributionThe system of relationships established to guide the
movement of a product
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Alternative
Channels of
Distribution
Exhibit 14.8
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Supply Chain Management (contd.)
Important Factors in Building a DistributionChannel
Costs associated with establishing a direct channel
distribution
Coverage is increased through the use of indirectchannels of distribution
Control is enhanced using a direct distribution channel
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The Scope of Physical Distribution
TransportationWhich Mode to Use?Common carriers
Transportation intermediaries available for hire to the generalpublic
Contract carriers Transportation intermediaries that contract with individual
shippers
Private carriers
Lines of transportowned by shippers
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The Scope of Physical Distribution (contd.)
Logistics CompaniesFirms which specialize in providing cost-effective
transportation, storage, and distribution services to
small companies
Trucking
Packaging
Warehousing