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8/11/2019 Marketing Made Easy (Part-II)
http://slidepdf.com/reader/full/marketing-made-easy-part-ii 1/3
Marketing Made Easy (Part-II)
Copyright ©
MAJOR MARKETING FRAMEWO
ANSOFF’S MATRIX
Contributed by Igor Ansoff (
Helps in deciding growth str
Existing
Existing Markets arket Penetr
ell more to exis
New Markets arket Develo
new markets
SWOT ANALYSIS
• A tool for auditing an organi
•
Strengths and Weaknesses a• Objective of decision makin
time minimize the effects of
Positive Factors
Strengths:
Good relationship with suppliers
An innovative product/service a
Specialist marketing expertise a
Strong distribution channel and
Location of business (store locat
Opportunities:
Potential international market (
A new or developing market (e.
Acquisition, mergers, JV or strat
New market segments that offe
A market vacated by an ineffecti
SEGMENTATION ND TARGETIN
Segmentation can be done on: (
Evaluation of segments and the
HOMOGENEITY
•Companiesshould try tochoose andtargetsegments thatarehomogenous
inthe kinds of
value sought
MEASUREABILITY
•Can weunderstand thesize and needsof the marketsegment?
Page 1 of 3 Co
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RKS
arvard Business Review 1957)
tegy; also called growth opportunities matrix
Products/Services New Pro
tion: Gain market share,
ting customers
Product Develop
to current custom
ment : Enter and develop Diversification: L
new markets (dive
zation and its environment; used in early stage o
re internal actors and Opportunities and Threatwill be to capitalize on Strengths and Opportun
Weaknesses and Threats
Negative Factors
and distributors
d quality process
d expert people
reputation
ion for retail)
eaknesses:
Lack of goodwill or poo
Poor quality/u differe
Lack of marketing expe
eak supply chain; po
Poor location of busine
.g. BRIC markets)
. Internet)
gic alliances
improved profits
ve competitor
hreats:
Competition: new com
or better products, bet
Environmental factors:
taxes, weak economy o
supply for flood, draug
G
) geo/demographics, (b) psychographics, (c) be
targeting can be done based on following decisi
ACCESSIBILITY
•Can wecommunicatewith thesegment sothat servingthe segmentis possible?
SUBSTANTIALITY
•Does thesegment desirethat values thatan offeringpresents?
TTRACTIV
•Market,ompetitihannel, Ind Otheronsidera
ntact: [email protected]
ducts/Services
ent: Sell more products
rs
unch ew product in
rsify portfolio)
f planning
s are external factorsities and at the same
r reputation
tiated goods or services
rtise
r relation with vendors
ss
etitors, price wars, new
er distribution channels
new laws with higher
r recession, issues in
t, strikes etc
avioral, (d) benefits e tc.
on parameters
ENESS
e,nternal
ions
ACTIONABILITY
•Can wecreate acompetitiveadvantagewith respectto the needsof thesegment?
8/11/2019 Marketing Made Easy (Part-II)
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Marketing Made Easy (Part-II)
Copyright ©
POSITIONING
CONSUMER DECISION MAKING
TY PES O F CO NSU MER ECISIO N
NeedRecognition
ConsiderationSet
Picking
•Low involvement and
limited problemsolving
•Undifferentiatedbrands
ariet
•Low i
limitesolvin
•Differ
Problem solving
•Normally for complhigh priceddifferentiatedproducts
•High degree of uncertainty
Page 2 of 3 Co
TNMG 2009. All rights reserved. www.tnmg4u.com
Positionin
consumer's perce
service in relation
Perceptua
map is used to ma
analyse their posit
Generic p
Differentiate on n
ttribute
market; Differenti
Emotional
market; Differe
attributes/ brand i
PROCESS
PROCESSES
InformationSearch
AlternativeEvaluation
PurchaseDecision
seeking
volvement and
d problemg
entiated brands
Legalistic
•Requires approval
from external sources•Based on legal and
societal norms
ex,
Heuristics
•Used for repeatdecisions
•Buyers uses rules of thumb
• Very quick and easydecisions
Habit
•Absence of informationand alternatevaluation
•Standard derepeat purc
ntact: [email protected]
refers to the
ption of a product or
to its competitors
l map or positioning
p competing products to
ioning
sitioning: New product;
eds
positioning: Growth
te on attributes
positioning: Mature
tiate on intangible
mage
PostPurchase
Evaluation
Subcontracted
•Buyer obtain a
recommendationfrom a personal ornon personal source(ex. doctor)
searchive
cisions forases
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Marketing Made Easy (Part-II) Page 3 of 3 Contact: [email protected]
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PLC OR PRODUCT LIFECYCLE
A popular tool to decide
Marketing Strategy and
Investment
Basic steps: which stage in PLC Overall Marketing Mix
Reshape and control PLC
Find below an indicative
guideline for normal products
based on PLC stage but cannot
be generalized
PLC Stage Introduction Growth Maturity Decline
Marketing
Objective
Market development by
creating awareness
Maintain and build
market + Stress
differentiation
Defend market
share + Maintain
brand loyalty
Harvest (‘milk’
the cow or
Delete
(‘divest’ the
dog)
Competition lmost not there Increasingly more Many but stable Reduced
Product Limited variety New ariety and
models introduced
Improvement and
upgrade of
product
Withdraw less
profitable
products
Price Skimming or penetration
pricing
ggressive pricing
to increase sales
Defensive pricing
to defend MS &
profit
At least break-
even (>
marginal cost)
Promotion Brochures, ads etc to
educate people
Build preference by
stressing difference
Reminder ads +
Trade promotion
Minimal
promotion
Place
(Distribution)
Exclusive/selective
distribution
More outlets to
ensure reach
Maximum reach to
ensure availability
Reduced
number of
outlets
No one knows how actual PLC curve will look like – will depend on product, industry and environment!
Failure to recognize PLC stage will lead to wrong decisions; such decisions might lead to Pygmalion effect
(self-fulfilling prophesy); for example, stopping investment in a product thinking that it is going to reach
decline phase will actually lead to the decline!
INNOVATION DIFFUSION PROCESS