Marketing 1
Tussentoets:
Tentamen:
hfst 1, 3, 4, 5, 6, 7, 9, 10
hfst 1, 3, 4, 5, 6, 7, 9, 10, 11, 12, 14, 16, 17, 18, 19, 20 + Gastcollege
LET OP: leer ook hfst 3 van collegedictaat (planning).
LET OP: oefen al de cases voor tentamen en de tussentoets!
LET OP: leer ook de sheets. Vooral studietips aan het einde!
LET OP: leer vooral alle figuren voor de tussentoets!! Daar vraagt hij veel over!!
HOOFDSTUK 1
Paragraaf NIET leren:
The new economy.
How businesses and marketing are changing.
New economy = globalized, internet, automatization, technologies, information and empowering.
Old economy = Manufacturing (try to achieve economies of scale/efficiency).
Marketing tasks
3 Stages through which marketing practice might pass:
• Entrepreneurial marketing
Most companies are started by individuals. They knock on every door to gain attention. (Can’t afford an
advertising budget).
• Formulated marketing
The companies are gaining little successes. They employee sales persons, begin advertisement on TV
and do some market research.
• Interpreneurial marketing
The companies became large. The companies lack creativity. Their brand managers need to get out of
the office, start living with their customers and visualize new ways to add value to their customers.
In marketing there will be a constant tension between formulated side and creative side.
Marketing is typically seen as creating, promoting and delivering goods and service to consumers and businesses.
Marketers are skilled to stimulating demand. But that’s to limited. They are responsible for demand management.
Table page 6! Demand states + task of marketer.
10 types of entities in which marketers are involved:
Goods
à
Most important
Services
à
Hotels, barber, repair etc. Mostly you have a mix of goods with services.
Experiences
à
Haunted house, climbing mount everest, meet your idol etc.
Events
à
Olympics, Trance Energy etc.
Persons
à
Celeberties, proffesionals (such as lawyers etc.)
Places
à
Turkije, Amsterdam etc.
Properties
à
intangible rights. Stocks, bonds, estates etc.
Organizations à
image of a company. Vb) Let’s make things better.
Information
à
Schools, Encyclopedias, Internet, CD, books, software etc.
Ideas
à
Save the rainforest, say no to drugs etc.
Marketers make many decisions such as new features for product, how many salespersons to hire, how much spend
on advertisement, color of packing etc. vb) tabel blz 8.
4 Markets (page 8!!! For explanation):
• Consumer markets
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Business markets
Global markets
Nonprofit and govermental market
Marketing concepts and tools
Marketing:
- Social definition (Role of marketing in society, marketing delivers a higher standard of living).
Marketing is a social process by which individuals and groups obtain what they need and
want through creating, offering, and freely exchanging products and services of value with
others.
- Managerial definition (art of selling products, but selling is just a little task of marketing).
Marketing is the process of planning and executing the conception, pricing, promotion and
Distribution of ideas, goods and services to create exchanges that satisfy individual and
organizational goals.
Marketing management = the art and science of choosing target markets and getting, keeping and growing customers
through creating, delivering and communicating superior customer value.
Marketing core concepts:
• Target markets and segmentation
Market segment = buyers differences based on demographic, psychographic and behavioural
differences.
Target market = Segment on which the marketer chooses to “work”.
A marketer can’t satisfy all in a market because not everyone likes the same drink etc.
Figure 1.1 page 10!
• Marketplace, Marketspace and Metamarket
Marketplace= physical (shop)
Marketspace= Digital (internet)
Metamarket = cluster of complementary products/services that are closely related in the minds of
consumers but are spread across a diverse set of industries. Vb) page 10/11!
Figure 1.2 page 10! You must know the 5 basic markets that are in that figure!
• Marketers and Prospects
Marketer = someone seeking a response (attention, purchase, vote or donation)
Prospect = from another party (the one that gives the response)
WATCH IT: If they want to sell to each other, then they are both marketers.
• Needs, wants and demands
Needs = basic human require ments. (food, air, water, education, social status, entertainment etc.)
Wants = needs that are directed to specific objects that satisfy the need.
Demands = wants for specific products backed by a ability to pay.
Vb) Need: food
Want: hamburger
Demand: only the people that will and can buy one
Marketers influence wants, NOT needs. Needs exist already.
• Product, offering and brand
Value proposition = set of benefits they offer to customers to satisfy their needs.
Offering = intagible value proposition that is made physical (combination of products, services,
information and experiences).
Brand = offering of a known source.
Brand image = associations that come with a brand.
• Value and satisfaction
An offering is succesful if it delivers value and satisfaction to the target buyer. Buyers choose the
products that deliver the most value. Value increases with quality + service. Value decreases with price.
Customer value triad = Value is seen in terms of quality, service and price (QSP).
Value = ratio between what the customer gets and what he gives. (Benefits and costs).
Beneftits: * Functional benefits
* Emotional benefits
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Costs:
* Monetary costs
* Time costs
* Energy costs
* psychic costs
Value = Benefits/costs Formula page 11!
• Exchange and transaction
Exchange = process of obtaining a desired product from someone by offering something in return. (Both be
better off).
5 conditions for a exchange to exist:
At least 2 parties
Each party has something with value for the other party.
Each party is capable of communication and delivery.
Each party is free to accept or reject the exchange offer.
Each party believes it is appropriate or desirable to deal with the other party.
Transaction = a trade of values between 2 or more parties. (Not only money!)
Barter = transaction involves goods or services for other goods or services.
Transfer = One way transaction. Vb) gifts, subsidies and charties etc.
Marketers want behavioural response of a party. Vb) page 12!
Figure page 13!
• Relationship and networks
Relationship ma rketing = has the aim of building mutually satisfying long-term relations with key parties in
order to earn and retian their business.
Marketing network = consists of the company and its supporting stakeholders. With whom it has built
mutually profitable business relationships.
• Marketing channels
To reach the target market, 3 marketing channels are used:
Communication channels (reclame, e-mail, customer info etc.)
Distribution channels
Service channels (warehouses, banks, transportation etc. Transaction with potential buyers)
• Supply chain
Supply chain = Channel from raw material to final product for final buyers.
• Competition
Competition = all actual + potential rival offerings and substitutes that a buyer might consider.
Vb) Figure page 14!!
4 levels of comp etition vb blz 14/15 erbij lezen:
Brand competition (similar products/services at same customers at same price)
Industry competition (all compnies with same product or product class)
Form competition (all companies that manufactur products with same services)
Generic competition (all compnies compete for the same consumer dollars, kunt ze maar 1
keer uitgeven).
• Marketing environment vb page 15!
Task environment = immediate actors in production, distribution, promoting and offering.
Broad environment =
Social/cultural environment
Technological
Demographic
Economic
Natural
Political-legal
• Marketing program
Marketing program = (plan) consist of numerous decisions on the mix of marketing tools to use.
Marketing mix = set of marketing tools the firm uses to pursue its markeitng objectives in the target market.
Figures page 16!
4P
4C
Product
Customer solution
Price
Customer cost
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Place
Promotion
Convenience
Communication
Company orientations toward the marketplace
6 Competing concepts under which organizations conduct marketing activities:
• Production concept
Consumer will prefer products that are widely available and inexpensive.
Managers concentrate on high production/low cost/mass-distribution.
The people are more intrested in having the product than in the feautures.
Vb) page 17.
• Product concept
Consumers favot the products that offer the most quality, performance etc.
Managers focus on improving product.
Vb) page 18.
No customer input and no competition information.
Vb) laatste aliniea van dit stukje ZEER !!!!
• Selling concept
Conusumer and businesses won’t buy enough. The organization must undertake an aggressive selling and
promotion effort.
It’s most aggressive with unsought products (producten die je niet zoekt).
Vb) Stem scoren voor politieke partij, door flyers/shaking hands etc.
Usefull at overcapacity. Watch out it can make customers “boos” and go to consumer organizations.
Seller perspective.
• Marketing concept
Not find the right customers for your product. But find the right product for your customers.
Managers must tryu to be more effective than the competition in creating, delivering and communicating
superior customer value to its chosen target markets.
Vb) klant is koning!
Figure page 20!
Buyer perspective.
4 pillars of the marketing concept:
Target market
Choose the best possible vb) page 20
Customer needs
Understand the customers needs and wants
Example: what does “an inexpensive car” mean?
Integrated marketing
All companies departments work together to serve customers interest. Figure page 23!
External marketing = marketing directed at people outside the company.
Internal marketing = task of hiring, training, motivating employees who want to serve
customers well.
Profitablility
Page 23 t/m 25 nog doen.
• Customer concept
Figure page 26!
Focus on the individual customers. Collect information about them.
Expensive because the databse etc.
High customization.
• Sociental marketing concept
Are companies really doing the best for customers (in the long run time).
Vb) page 26 (nested piece of text).
This approach preserves or enhanches the consumer or society’s well-being.
Ethical and social considerations are made by managers.
Vb) page 27!
Cause-related marketing = (form of sociental marketing concept) = see page 27!
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5 types of needs:
• Stated needs (The customer wants an inexpensive car)
• Real needs (The customre wants a car whose operating cost are low, not the initial price)
• Unstated needs (The customer expects good service from the dealer)
• Delight needs (The customer would like a navigation system from the dealer)
• Secret needs (The customren wants to be seen by friends as a savvy consumer)
Responsive marketer = Finds needs and fulfills them.
Anticipative marketer = looks ahead what customers want in the near fututre.
Creative marketer = Customers do not ask for it, but will enthousiast reageren.
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HOOFDSTUK 3
Paragraaf NIET leren:
The nature of high performance business
Defining customer value and satisfaction
Customers are value-maximizers, within the bounds of search costs and limited knowledge, mobility and income.
Customers choose product with the highest perceived value. FIGURE PAGE 60. Kennen!
CPV = Customer Perceived Value = difference between total customer value and total customer cost.
But there can be more attributes that contribute to the decision, such as time to make the decision, friendships
between companies etc.
Satisfaction = a persons feeling of pleasure or disappointment resulting from comparing a products perceived
performance (outcome) in relation to his/her expectations.
Buyers form expectations by: friends, past buying experiences, marketers, competitors etc.
TCS = total customer satisfaction. Example page 62! 2x!
Key of high customer loyalty is delivering high customer value.
Value proposition = the whole cluster of benefits the company promises to deliver (its more than the core positioning
of the offering). Example: volvo core postioning promises safety. But that is not the total proposition, because they
also give good servive, long-lasting car etc.
Value-delivery system = all the experiences the customers will have on the way to obtaining and using the offering.
Many companies lack in combi-ing brand promises with value proposition. Example: washes wither. Than it really
has to wash whiter!
FIGURE PAGE 64: tools for tracking and measuring customer satisfaction.
A company has more parties. He must try to achieve the highest customer satisfaction but also a high satisfaction of
other parties, such as stakeholders, employees etc. But customer satisfaction is very important nowadays, because
people can spread bad words very fast!
Delivering customer value and satisfaction
In a high competitive ecfonomy you van only win by dreating and delivering superior value. This involves 5
capabilities:
Understanding customers
Creating cutomer value
Delivering customer value
Capturing customer value
Sustaining customer value
Value chain = tool (from Porter) for identifying ways to create more customer value. FIGURE PAGE 70!
Every part from the 9 parts is value creating. BIJ GESCHREVEN IN BOEK, KENNEN.
Benchmark = estimate competitors costs and performance and compare with your own.
Not only each department has to run well, but also the coordination between them!
Core business processes:
Market sensing (= all activities are involved in gathering market intelligence and act on it)
New offering realization (= all activities are involved in researching, devoloping etc.)
Customer acquisition (= all activities are involved in defining target markets)
Customer relationship management (= all activities are involved in better individual customer
relations)
Fulfillment management (= all activities are involved in receiving and approving orders,
shipping on time and collecting payment)
VMI = vendor-managed inventories = not to manage stocks but flows of stocks.
Value-deliver network (=supply chain) EXAMPLES page 71/72 ECHT DOEN!! NOT YET DONE.
Figure page 72. à competition is between networks not companies.
Attracting and retaining customers
Working with partners: partner relationship management (PRM)
Customer relationship management (CRM) = the process of managing detailed infromation about individual
customers and carefully managing all the customers “touchpoints” with the aim of maximizing customer loyalty.
The trick is not to satisfy customers, but to procuce delighted and loyal customers.
Customer churn = It adding water to a leak bucket.
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Steps to reduce the defection rate (= leaking bucket):
1) Company must define and measure its retention (= herrinering à herhaligs) rate Example page 72 with
/.
2) Company mu st dinstinguish the causes of customers attrition (=uitputting) and identify those that can
be managed better.
3) Company needs to estimate how much profit it loses when it loses customers.
Lifetime value = present value of the profit stream they would get, if the customer was not defected.
Example page 73 with /.
4) Company needs to figure out how much it would cost to reduce the defection rate
Do try to defection decreasing if cost < lost profit
5) Nothing beats to listening to customers. READ PAGE 73!
Many business try to get new customers, but keeping the current ones is also important. Measure the customer
satisfaction, because it is the key of customer retention (herhaling). Don’t try to los de problemen op die je binnen
kreeg van klachten, want slechts 4% dient klachten in. De overige 96% komt gewoon niet meer! Example try to
make complaining easier, zodat het wel redabel is om de klachten op te lossen.
Voordelen van retentie boven het verkrijgen van nieuwe klanten: PAGE 75 THE 4 POINTS!!!
CLV = customer life time value = expected future profits of current customers (present value).
READ PAGE 75/76 paragraf measuring customer lifetime value!!!
The aim of CRM is to produce high customer equity. Customer equity = the total of the discounted lifetime values of
all of the firm’s customers. The more loyal the customers, the higher the customer equity.
3 drivers of cutomers equity READ PAGE 76 ERBIJ, NOT YET DONE!!!:
1) value equity = the customers objective assessment of the utility of an offering based on perceptions of
its benefits relative to cost.
2) brand equity = the customers subjective and intangible assessment of the brand above and beyond its
objectively perceived value
3) relationship equity = the customers tendency to stick with the brand above and beyond objective and
subjective assessment of its worth.
FIGURE PAGE 76! + TEXT AROUND IT PAGE 76/77!
5 levels of investment in customer-relationship building:
1) basic marketing (salesperson simply sells product)
2) reacitve marketing (1+encourages customers to call he has question, problems etc.)
3) accountable marketing (salesperson phones customer to check if product meets expactations)
4) proactive marketing (salesperson contacts from time to time with suggestions about improved product
uses or new products)
5) partnership marketing (company and its large customers interact all the time)
FIGURE PAGE 77! Very !!!!!!!!!!!!! EXPLANES PREVIOUS.
Companies that want stong customer bonds need to attend to some basics:
RIJTJE PAGINA 78 KENNEN! WAS TENTAMENVRAAG.
3 retention-building (herhalins) approaches:
1) adding financial benefits
vb) frequency programs (FPs) and club marketing programs (people come closer to the organization).
EXAMPLE PAGE 79! 2x
2) adding social benefits
build social bonds with customers by individualizing and personalizing customer relationships
FIGURE PAGE 80!
3) adding structural ties
create long term contracts with customers
charge lower prices to consumers who buy larger supplies
turn the product into a long-term service
Example page 80 under the table and above the 3 points!
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Customer profitability, company profitability, and total quality management
20% of the customers generate 80% of the companier profit.
Bottum customer: pays full price and because he is small it costs the firm relative much to serve him
Top customer: high discount and because he is big it costs the firm relative low to serve him
Middlesize customer: best one, pays almost the full price and costs the firm little.
Profitable customer = a person, household or company that over time yields a revenues stream that exceeds by an
acceptable amount the companies cist stream of attracting, selling and serving that customer.
Examples of CLV page 81 2x!!!
Customer-product prifitability analysis: FIGURE PAGE 82! Read text under it!
Customer profitability analysis (CPA) is best conducted with tools of ABC-costing!
Figure page 83!!!
Competitve advantage = a companies ability to perform in one or more ways that competitors cannot or will not
match.
Leveragable advantage = een voordeel die een onderneming als springplank kan gebruiken naar nieuwe voordelen.
Example: microsoft used windows as springplank naar office.
Any competitive advantage must be seen by customers as a customer advantage.
Example page 83 with /. VERY !!!!!
Customers don’t expect average quality anymore. But expect high quality. Because of this:
TQM = total quality management = an organizationwide approacht to continious imprving the quality of all the
organizatios processes, products and services (Deming).
ISO 9000 is a set of acceoted rules for describing quality.
Quality = the totality of features and charecteristics of a product or service that bears the ability to satisfy stated or
implied needs.
Quality:
1) conformance (=overeenkomend met belofte)
2) performance (= grade)
Mercedes is volgens 2 hoger dan toyota.
Mercedes en toyota zijn gelijk volgens 1.
TQM is the key to value creation and customer satisfaction.
Marketing managers responsibilities (in a quality-centered firm):
• formulate strategies and policies to come to total quality
• they must deliver marketing quality alongside production quality
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HOOFDSTUK 4
Paragraaf NIET leren:
The marketing process
Product planning: the nature and contents of a marketing plan
Strategic planning: Three key areas and four organizational levels
Key areas see book page 90.
4 organizational levels:
• Corporate level
• Division level
• Business unit level
• Product level
Each of them (first 3) make decisions on what and how many resources will be allocated to the lower level.
Business unit makes stategic plan for a profitable future. Product level makes a marketing plan for its objectives.
Strategic marketing plan = lays out the target markets and the value proposition that will be offered based on an
analysis of the best market opportunities.
Tactical marketing plan = Specifies the marketing tactics, including product feautures, promotion, merchandising,
pricing, sales channels and service.
Marketing plan = central instrument for directing and coordinating the marketing effort. Figure page 91!
Corporate and division strategic planning
4 planning activities of corporate headquarters:
• Defining corporate mission
Mission can change. But don’t do it when economy changes, but when yours isn’t relevant anymore.
Mission statement = missie zodat managers, employees and customers the mission can know. Vb) page
91/92!
Mission exists of: Goal (main, limited), major policies and values the company want to honor, define
the major competitive scope:
Industry scope
The range of industries in which the company will operate. Vb) page 92
Products and applications scope
The range of products/apps that the company will supply.
Competence scope
The range of technological and other core competencies that a company will master and
leverage.
Market-segment scope
The type of market the company will serve.
Vertical scope
The number of channel levels from raw material to final product.
Geographical scope
The range of regions, countries etc. in which a company will operate.
• Establishing strategic business units (SBU)
Business unit is a customer-satisfying process (marketing definition), NOT a goods-producing process
(product definition). See figure page 93. This is because products are transient, needs endure forever.
Target market definition = focus on product/service.
Strategic market definition = focus on need.
Vb) Bij de eerste ziet pespi alleen coca cola als concurrent, namelijk op de cola market.
Bij de tweede ziet pepsi alle bedrijven die drinken maken als concurrent, dus ook Fanta etc.
Business have 3 dimension:
Customer groups
Customer needs
Technology
Vb) page 93.
SBU 3 charecteristics:
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Single business or collection of related businesses that can be planned separately from the rest
of the business.
It has its own set of competitiors.
Managers responisble for strategic planning and profit.
There are 2 business unit portfolio evaluation models. See further in this summary.
Be carefull with them: see page 98/99.
Assigning resources to each SBU
Planning new businesses, downsizing, or terminating older businesses
Figure page 99.
Options when current sales is lower then desired sales (strategic planning gap):
Intensive growth (achieve further growth in current business)
Method to look for opportunities: Ansoff figure page 100 KENNEN!!! It goes from number 1
to number 4. Example page 100. Read page 101 à Part above integrative growth.
Integrative growth (build or aquire growth in businesses related to current business)
Integration horizontal or vertical.
Diversification growth (add attractive business that are unrelated to current business)
3 types of diversification:
1) Concentric diversification.New product, with link to existing technologies or
marketing synergie.
2) Horizontal diversification. New product that are interesting for current customers (no
technological link).
3) Conglomerate diversification. Total new product. And NO links.
2 business unit portfolio evaluation models:
• Boston consulting group model (BCG)
Growth-Share matrix Figure page 94. Lees beide alinea’s op bladzijde 94 voor uitleg.
4 areas:
Question markes
High growth market. Low market share (less then 1, see figure)
Company needs to spend a lot of money to keep up in the fast growing market. (personel,
equipment, personel etc.)
Stars
Market leader in an high growth market.
Not necessary positive funds!
Company must spend money to defend from attackers and keep up with growth.
Cash cows
Market leader with falling growth rate.
Company does not have to spend money, because there are no attackers (to less growth) and
there is no money needed to keep up with the growth, because there isn’t any.
Company has economies of scale and high profit margin.
Dogs
Low market share and low-growth rate. Keep only up if you expect the market to become
healthy again.
In this model a good balance is needed between these 4. Unbalanced, when: to many dogs and
question marks and to few stars and cash cows.
4 strategies for each SBU:
Build (for question marks, gain market share)
Hold (for cash cow)
Harvest (Bezuinig to increase short term cash flow vb. page 95 - for question marks and dogs)
Divest (Sell or quit business of the SBU - for question marks and dogs)
SBU life cycle (only when succesful):
Question mark à star à cash cow à dog
So it is good for a company to look at the movement in the matrix.
• General electric model (GE)
Figure page 96! Uitleg bladzijde 96/97/98. Figure page 97!
That list is different for each company.
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GE model is “uitgebreider” than the BCG model. Market growth and market share are in this model just
2 of the many factors.
3 upper left cells – companies should invest or grow
Diagonal cells – companies should pursue selectivity and manage earnings.
3 lower right cells – companies should harvest or divest.
Length of arrow laat zien hoe sterk de verandering zal zijn.
Leer figure page 96 goed! In welke cell je bevindt en welke strategy je in die cell moet uitvoeren. Staat
er naast.
Business unit strategic planning
8 Steps of business unit stratigic planning Figure page 102 KENNEN!!!:
• Business mission
Mission of the unit, related to the overal mission of the corporation.
• Swot Analysis
Strengths, weaknesses, opportunities and threats.
Opportunities and threats: External environment analysis
Macroenvironment forces = Demographic, technoligical, economical etc.
Microenvironment forces = Customers, competitors, suppliers etc.
Marketing opportunity = an area of buyer need or potential interest in which a company can
perform profitably.
Read bullets page 102/103 for examples. These are very important, because you need to regonize
them.
Market opportunity analysis (MOA) = figure page 103! KENNEN!
Environmental threat = a challenge posed by an unfavorable trend or development that would lead
in the absence of defensive marketing action to deterioration in sales or profit.
4 outcomes of opportunities and threats analysis
Ideal business
High O ----- Low T
Speculative business
High O ----- High T
Mature business
Low O ----- Low T
Troubled business
Low O ----- High T
Strenghts and weaknesses: Internal environment analysis
Vb) page 104!
Read page 104 + figure page 105!
• Goal formulation
Goal = objectives that are specific with respect to magnitude and time.
Vb) profitability, sales growth, market-share improvement, risk down, reputation, innovation etc.
MBO = manages by objectives. Men bestuurt volgens de objectives.
4 criteria for an MBO to work:
The objectives must be arranged hierachically. From important to less important.
Objectives should be stated quantitatively whenever possible. Example page 106.
Goals should be realistic.
Objectives must be consistent. Example page 106.
• Strategic formulation
Strategic = a game plan for getting at the goals a company want to achieve.
Strategy consists of:
Marketing strategy
Technology strategy
Sourcing strategy
Porter’s generic strategies:
Overall cost leadership (low costs à low prices for customers)
Less need for good marketing. Problem, competition can do the same.
Differentiation
Superior performance.
Focus
Focusess on one or more narrow market segments. And can achieve both of the first 2.
Strategic group = firm pursuing the same strategy directed to the same target market.
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Strategic alliances.
Marketing alliances voorbeeld page 108!:
Product / service alliances
Promotional alliances
Logistic alliances
Pricing collaborations
Program formulation and implementation
Supporting programs for strategic.
Vb) Strategy: attain technological leadership
Program: Strenghten R&D department / Gather intelligence etc.
Implemantation:
Figure page 109 à McKinsey 7-S Framework. Top 3 = called Hardware
Bottom 4 = called Software
Explanation elements of figure: read page 109/110. Moet, hij vraagt veel over figuren!
When alle the elements are present, mostly implemantation is more succesful.
Feedback and control
Track results and monitor new developments. The company must change implementation, programs,
strategies or even objectives. Vb: page 110!
Org. Must respond to changes, getting back position is very hard! Vb) page 110.
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HOOFDSTUK 5
Paragraaf WEL leren:
Marketing research system
Marketing research system
Marketing research = the systematic design, collection, analysis and reporting of data and findings relevant to a
specific marketing situation facing the company.
A company can obtain marketing research via different ways. Large companies have often there own marketing
research departments. Small companies can hire the services of a marketing research firm or conduct research inj a
creative and affordable way. (Hire students, use internet or check out rivals: visit them).
Budget of marketing research mostly 1 a 2% of the total company sales.
3 categories of marketing research firms:
• Syndicated-service research firms.
Firms that gather consumer and trade info and sell it to others.
• Custom marketing research firms.
Firms that are hired to carry out a specific project.
• Specialty-line marketing research firms.
Firms that provide specialized research services.
Marketing research in 6 step: Figure page 129, VERY !!!!!!
Steps:
1) Define problem, the decision alternatives and the research objectives
Define the problem in a good way. Not to narrow (to few info you will get) and not to broad (to much info you
will get).
How fast can your new innovation be copied by the competitor.
2) Develop the research plan
You have to know the cost of the research. If research + expected profit < cost. Then you won’t do the research
or in a different way. Designing a research plan calls for decisions on:
• Data sources
Researchers can gather primary data (freshly gathered info for a specific purpose or project), secondary
data (already exsisting data that was collected for other purposes) or both.
Firms start always with secondary data, if you can get your required info, then its cheaper then primary
data. Intervieuws is a form very often used.
• Research approaches
Primary data can be collected in 5 ways:
Oberservational research = Observe the relevant actors and settings. Vb) page 131!!!
Focus-group research = Figure 5.2! Gathering of 6 to 10 persons to tlak about a product/service
etc. Watch out: The sample group is to small for coping to the whole market. Now a days:
onlone focus groups. Page 133 for example.
Survey research = Firms take surveys.
Behavioural data = Customers leave traces of their purchasing behaviour. Vb) store scanning
data, catalog purchases, databases etc.
Experimental research = Best reliable way! Do any experiment with customers and your
product / service.
• Research instruments
3 Instruments in collecting primary data:
Questionnaires. (most common because of the flexibility) Figure page 135 lezen!!!
Psychological tools. (depth intervieuws etc.) Lezen page 134 Not yet done.
Mechanical tools. Read page 134 Not yet done.
Qualitative measures. Read page 134 Not yet done.
New tools of this “age”: prototyping and articulative interviewing. Read page 134 Not yet done.
• Sampling plan
3 decisions for a sampling plan:
Sampling unit
Who is to be surveyed?
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Sample size
How many people should be surveyed?
Sampling procedure
How should the respondents be chosen? Figure page 137!!! Kennen!!!
• Contract methods
Determine how the subject wil be contacted: mail, telephone, personal, online etc.
Mail
Best way to reach people who wont’t give personel data etc. Response is low/slow
Telephone Gathering quickly info. Higher response then mail. Difficult, because people hate it.
Personal interviewing
Body language, expand questions etc.
Arranged interviews
Usaully payment and on appointment.
Intercept interviews
Stooping at shopping mall, can’t take to much time.
Online methods
Fast, expected to grow (clickstream, cookies).
3) Collect the information
Most expensive step.
4) Analyze the information
Extract findings from collected data.
5) Present the findings
Present findings to the management. Example page 139!
6) Make the decisions
Figure page 140 KENNEN!!!
Companies fail to use marketing research sufficiently and correctly. Reasons for that (READ PAGE 140/141
NOT YET DONE, TENTAMENVRAAG):
• A narrow conception of the research
• Uneven caliber of researches
• Poor framing of the problem
• Late and occasionally erroneous findings
• Personality and presentational differences
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HOOFDSTUK 6
Paragraaf NIET leren:
Analyzing needs and trends in the macroenvironment
Identifying and responding to the major macroenvironment forces
Companies and their customers, suppliers, competitors etc. all operate in a macroenvironment of forces. These forces
are noncontrallable. Global forces that are now “hot”:
Speedup of transportation, communication, transactions.
Lower-cost countries (lage loonlanden).
Rising power of some asian countries.
Rise of trade blocs such as EU.
Increasing fragility of the international financial system.
Increasing use of barter and countertrade to support international transactions.
Etc. READ PAGE 162!! At the top!
With rapidly changing global picture, firms must monitor 6 major forces (and the ineraction between them!!):
• Demographic (markets require people)
Worldwide population growth
Need more of basics food, fuel, minerals etc. The poorest countries grow the fastest. Example
page 163 met /.
Population age mix
Products as diapers / viagra etc. Ages are shaped by growing up with certain technologies etc.
Ethnic and other markets
Countries vary in ethnic and racial groups. Example page 165! Watch out also not every asian
for example is the same. Thus it is very difficult to generalize on this bases. You can also make
use of a medical service on a market for people with disabilities.
Educational groups
Non / High school / College / University etc.
Household patterns
Singles need for example other houses than big families. Two gay’s living together have other
needs than two hetro’s. Example page 166!
Geographical shifts in population
Counties split / combine. People move to safer areas (mmigration). Example page 166!
Verstedelijking!
Lokatie maakt veel uit: zwembroeken verkopen op alaska werkt niet….
(LET OP: lokatie is geografie en NIET demografie!!!)
From a mass market to micromarkets
Micromarkets differtiated by age, sex, ethnic background, education etc. Companies used to
aim at the average customer. But now approaches the individual customers.
• Economic (markets require purchasing power)
Income distribution
Examples page 168/169!
Savings, debt and credit availability
• Natural (markets need more and more to “rekening houden met” nature)
Shortage of raw materials
1) Infinite (water, air etc.)
2) Finite renewable (forest, food etc.)
3) Infinite renewable (gas, oil etc.)
Shortage of all 3 are possible.
Increased energy costs
Doordat oil etc. op raakt, wordt het duurder. Markets of sun-energy etc. arise. Clean electric
cars arise etc.
Anti-pollution pressures
Markets of recycling / ECO-products etc. arise.
Changing role of governments
Rules and laws.
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Technological (Medicins, computers, medical surgery etc.)
Every new technology hurts an older technology. For example the CD hurts de LP.
Accelerating pace of change
Technologies grow faster and faster.
Unlimited opportunities for innovation
Markets for VR (virtual reality), new medicins, cars etc. Figure page 172!
Varying R&D budgets
Read page 173.
Increased regulation of technological change
Products become more complex, so more and more will the safety of the customers be secured.
Political-legal (law, politics, pressure groups, somethimes it gives new opportunities, example new law:
recycling manditory, so the recycling industy will grow and have new opportunities)
Legislation regulating business
1) Protect companies from unfair competition
2) Protect customers from unfait businesses
3) Protect society from unbridled business behaviour
Promotions can be forbidden (such as sigarets etc.)
Growth of special-interest groups
Read page 175!
Social-cultural (beliefs, values and norms)
People absorb almost unconsciously a worldview that defines their relationships to themselves, to
others etc READ PAGE 175/176/177 NOT YET DONE TENTAMENVRAAG:
# Views of themselves
# Views of others
# Views of organizations
# Views of society
# Views of nature
# Views of universe
High persistence of core cultural values
- Existence of subcultures
Shifts of secondary culural values through time
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HOOFDSTUK 7
Paragraaf NIET leren:
N.V.T.
Influencing buyer behaviour
Model of buyer behaviour FIGURE PAGE 184!
Consumer buying behavior is influenced by:
• Cultural factors (culture, subculture, social class)
Culture = the fundamental determinant of a persons wants and behaviour.
You got values, perceptions etc. through your growing up.
Subculture = more specific identification and socialization for their members.
Culture: achievement, success, efficiency, freedom etc.
Subculture: nationalities, religions, racial groups and geographic regions.
Diversity marketing = marketing programs to serve a large subculture. EXAMPLE WHOLE PAGE
185!
Social class = relatively homogeneous and enduring divisions in society, which are hierachical ordered
and whose members share similar values, interests and behaviour. (based on income, education,
occupation etc.) Example of classes, page 186 completely!
Each class shows different product and brand preferences.
• Social factors
Reference groups
Reference group = consists of all the groups that have a direct (face-to-face) or indirect
influence on the persons attitudes or behaviour.
1) direct: Membership groups
a. primary groups (continously and informal contacts: family, friends,
neighbours and co-workers)
b. secondary groups (less continious and formal contacts: proffesionals,
religious, vakbond etc.)
2) indirect:
a. Aspirational groups (= groups a person hopes to join)
b. Dissociative groups (= those values or behaviour an individual rejects)
Marketers try to identify all these groups. And try to influence the opinion leaders of these
groups. Opinion leader = person in informal, product-related communications who offers
advice or information abaut a specific product or product category, such as which of several
brands is the best or how a particular product may be used.
Cars: product + brand choice
Furniture + clothing: brand choice
Beer + cigarets: product choice
EXAMPLE PAGE 187/188!
Family
(= a primary reference group)
1) family of orientation (parents and siblings(=broers en zussen))
From parents you get: religion/politics/love/self-worth etc.
2) family of procreation (spouse(=partner) and childeren)
Role of partner differs in social classes.
Examples 3x page 189!
Social roles
Role = consists of the activities a person is expected to perform in groups (family, clubs, orgs
etc.)
Statutes
Status = Each role carries a status. Manager has more status the a cleaner etc.
• Personal factors
Buyers decisions are also influenced by personal charecteristics:
Age and stage in the life cycle
You buy differnet things on different ages (baby food etc.)
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Also you buy different in the different family life cycle stages (FIGURE PAGE 191!)
Occupation and economic circumstances
Managers buy suits, builders buy steel shoes etc.
Business air travel or economy class etc.
Lifestyle
People from the same social class, occupation or subculture may lead different lifestyles.
Lifestyle = a persons pattern of living in the world as expressed in activities, interests and
opinions. It shows the WHOLE person interacting with his/her environment.
Psychographics = the science of using psychology and demographics to better understand
consumers. Example VALS segmentation FIGURE PAGE 192!
READ PAGE 192/193 VERY IMPORTANT HOORT BIJ PLAATJE!!
Personality and self-concept
Every one has personality characteristics that influence his or her buying behaviour.
Personality = set of distinguishing human psychological traits (=karaktertrek) that lead to
relatively consistent and enduring responses to environmental stimuli.
Vb) self confidence, dominance, defensiveness etc.
Brand personality = the specific mix of human traits that may be attributed to a practicular
barnd. ROW PAGE 194 NOG DOEN!! + BIJ BEHORENDE TEXT PAGE 195!
Nowadays firms try to develop brand personalities that will atrack people with the same selfconcept! But watch out because people have 3 differtent self-cocepts:
1) actual self concept (how you view yourself)
2) ideal self concept (how you would like to view)
3) other-self concept (how you think others see you)
Psychological factors
Buying behaviour is also influenced by:
Motivation
Motive = a need that is sufficiently pressing to drive the person to act.
3 theories of human motivation:
1) Freud
Psychological forces that are shaping peoples behaviour are largely unconscious and a
person cant understand his/her own motivations fully.
Laddering = a method for tracing a persons motivations from the stated instrumental
ones to the more terminal ones.
REST NOG DOEN: TENTAMENVRAAG, DEEL NOG NIET GEDAAN
2) Maslow
FIGURE PAGE 196, TENTAMENVRAAG! VOLGORDE KENNEN!!
Human needs are hierachical arranged. People try to statisfy the most important needs
first! Pas als die need is bevredigd gaan ze de volgende bevredigen!
3) Herzberg
Theory that distinguishes between:
a. Dissatisfiers (= factors that cause dissatisfaction)
b. Satisfiers (= factors that cause satisfaction)
The absence of a. is not enough. Also b. has to be present to motivate a purchase.
Sellers must eliminate a. and find the satisfiers or motivators.
Perception
How the motivated person acts is influenced by his/her perception of the situation.
Perception = the process by which an individual selects, organizes and interprets information
inputs to create a meaningful picture of the world.
This is different for everyone: Someone might find a salesperson aggressive and another one at
the same time might find him helpful.
3 perceptual proccesses:
1) selective attention
screening out of stimuli (you see very much ads a day, so you do not attend to all,
that’s impossible).
So you have to do your best to get their attention:
a. people notice more often stimuli for current needs
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b.
2)
3)
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people notice more often stimuli that they anticipate (=verwachten) Example
page 197!
c. People notice more often stimuli whose deviations are large in relation to the
normal size of the stimuli. Korting van 100 dollar zie je eerder als 1 van 5
dollar.
You are also influenced by all in a sudden stimuli. So marketers can try that to.
selective distortion
tendency to twist information into personal meanings and interpret info in a way that
will fit our preconditions. Marketers cant do much about this.
selective retention
people forget much they learn but will tend to retain info that supports our attitudes
and beliefs. Because of this we are likely to remember good things mentioned about a
product we like and we forget good points mentioned about competing products .
Marketers use drama and repeating of messages because of this.
Learning
Learning = changes in an individuals behaviour arising from experiences.
Drive = strong internal stimulus impelling (=call for) action.
Cue = minor stimuli that determines when, where and how a person responds.
If you buy a computer from dell and you react good on it. Then you need a printer and will buy
it from dell, because of your previous experience à Generalization
Discrimination = means that a person has learned to recognize differences in sets of similar
stimuli and can adjust response accordingly.
Beliefs
Belief = a descriptive thought that a person holds about something.
Brand plays an important role!!! Example page 198 with /.
Attitudes
Attitude = a persons ejnduring favorable or unfavorable evaluations, emotional feelings and
action tendencies toward some object or idea.
With this people put things in rooms of like/dislike. Change a attitude is different, so
marketeres can better try to fit the product into the attitude. Exa mple page 199!! VERY !!!
The buying decision process
There are 5 roles in the buying decision:
• Initiator (= one that suggests the idea)
• Influencer (= one whose view or advice influence the decision)
• Decider (= one who decides what, how, where and wether to buy)
• Buyer (= one who actual purchases)
• User (= One who consumes or uses the product)
Marketers have to decides on which group to target. So paint is mostly bought by man, but the decider is in most
case the female!
Consumer decision varies with type of buying decision, a thoothbrush is different than a car buying:
FIGURE PAGE 201!! VERY IMPORTANT!!!:
• Complex buying
1) buyer develops beliefs about product
2) buyer develops attitudes about a product
3) buyer makes a toughtful choice
vb) car
The marketer must know the buyers 3 stages very well.
• Dissonance-reducing buyer
Expensive, risky and infrequent.
• Habitual buying
Vb) salt
No evaluation, no proces as described in complex buying.
Based on brand familarity instead of brand conviction. (meer van vaak gehoord dan ow die moet ik
hebben want die is geweldig) After purchase, they often even evaluate the buying.
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Marketere must fight with ads (familarity) and prices.
They can link the product to a higer invlvement one. Examples VERY !!! PAGE 202!!! With / .
Variety-seeking buying
They buy the first time without evaluation and evaluate afterwards. Next time the choice is based on
this.
Stages of the buying decision process
Metamediar (combine different product for 1 purchase, example: car, you also need insurrance, financing etc.)
This products are on a metamarket. Example page 203!/204!
Marketers can learn stages in the buying process by different methods:
• introspective method (= how would they themselves act)
• retrospective method (= interview a small number of purchasers, how they made the choice)
• prospective method (= locate customers who are plan to buy the product and they should speak aloud
how they go to the process)
• prespective method (= let the customers to describe their ideal way to buy the product)
Stages of the buying proces: FIGURE PAGE 204!!! Customers may skip one of these stages!! Or even reverse
stages.
• Problem recognition
Recognize the problem/need (internal or external sources).
Marketers need to identify the circumstances that trigger a particular need (identify triggers and
stimuli). Marketers need to make strategies that trigger consumer interest.
• Information search
An aroused customer always goes to find more info. To levels of arousment:
1) heightened attention (vangt meer erover op)
2) active information search (actief zoeken)
4 sources of info:
1) personal (family, friends etc.)
2) commercial (ads, dealers etc.)
3) public (mass media, customer-rating orgs.)
4) experimental (handeling, examing, using product)
2 has a informing function, but the real evalution comes with 1!!
FIGURE PAGE 205! SEE FIGURE FOR NEXT:
Total set = all brands
Awareness set = consumer only knows these brands
Consideration set = brands that meet the initial buying criteria
Choice set = more info gatherd, only a few brands are left good enough
Marketers must try to get in all these sets, but also know the other in the choice set, to know who to
compete with.
• Evaluation of alterntives
Everyone evaluates different. Every evalution has:
1) Customers try to satisfy a need
2) Customer is looking for certain benefits from the product solution
3) Consumer sees each product as a bundle attributes
Examples page 205 onderaan het rijtje van 4.
Brand image is made of brand beliefs (= consumer developed, where each brand stands on each
attribute)
Example page 206! Read page + table!
READ BULLETS PAGE 206/207 NOT YET DONE, WAS TENTAMENVRAAG!
• Purchase decision
Figure page 207!
2 Factors intervence between purchase intention and the purchase decision:
1) attitudes of others
2) unanticipated situational factors (lose your job, other purchases become urgent etc.)
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In a purchase intention, the consumer may make up to 5 purchase sub-decision:
1) brand decision (merk)
2) vendor decision (waar)
3) quantity decision (hoeveel)
4) timing decision (wanneer)
5) payment-method decision (hoe betalen)
Salt = (1) + 3 + 4
Postpurchase bahaviour
Buy again etc.
Exit option = stop buying product
Voice option = warning friends
FIGURE PAGE 209 ZEER !!!!!
Other models:
Health model
Customer activity cycle model
BEIDE KENNEN, NOT YET DONE, WAS TENTAMENVRAAG!
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HOOFDSTUK 9
Paragraaf NIET leren:
N.V.T.
Competitive forces
5 forces model of Michael Porter that determines the inrinsic long-run profit attractiveness of a market or
market segment. Figure page 242!!!
Segment rivalry (segment has already strong / aggressive comp etitiors)
New entrants (entry + exit barriers)
Substitute products (actual + possible subtitutes)
Buyers growing bargaining power
Suppliers growing bargaining power
Identifying competitor LET OP LEER VERSCHIL INDUSTRY EN MARKET!!! TENTAMENVRAAG!!! ZIE 2x $
$ Not only watch at your direct competition, but also to your potential competition (also those who use the internet).
Industry = a group of firms that offer a product or class of products that are close substitutes for one another.
Industries are classified according to:
• Number of sellers and degree of differentiation
Pure monopoly (one firm, high price, minimal service, no advertising, regulated by laws) GAS
Oligopoly (Few firms)
o Pure oligopoly (few firms, produce the same, can only ask same price, winner is the
one with the most low cost) OIL
o Differentiated oligopoly (few firms, products differentiated, can ask different prices)
AUTO
Monopolistic competition (differentiated products, focus on few market segments)
RESTAURANT
Pure competition (many firms , same products, no differentiation possible, no advertising
unless psychological differentiation is possible à beer, sigarettes) STOCKS
• Entry, mobility and exit barriers
Entry barriers:
High capital requirements
Economies of scale
Patents and licensing
Scarce (= schaarse) locations, raw materials or distributors
Reputation requirements
Exit barriers:
Legal / moral obligations to customers, creditors or employees
Governement restrictions
Low asset salvage value
Lack of alternative opportunities
High vertical integration
Emotional barriers
Most stay as long as variable costs are earned back and a part of the fixed costs.
• Cost structure
Where are the biggest cost: raw material, manufacturing etc.
• Degree of vertical integration
Example: Oil à finding, drilling, refining etc.
Lowers costs.
Outsoucing to specialized firms is the trend.
• Degree of globalization
Local or worldwide. Compute on that market to remain healthy.
$ Competitors = companies that satisfy the same customer need.
Example:
Need: writing ability
Competitors: pen firms, pencil firms, typewriter firms etc.
Figure page 247!
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Competitor map: Center = consumer activities
Middle ring = main competitors (direct)
Outer ring = inderict competitors (who may become direct)
Analyzing competitors
Now the company nows its competitors, it has to look at their charecteristics:
• Strategies
Strategic group = group of firms following the same strategy in a given target market.
Figure page 248!
• Objectives
What is the competitor seeking in the marketplace?
And its plans including expansion plans à Figure page 249!
• Strenght and weaknesses
What are the competitors S en W’s?
There are 6 positions in a market:
Dominant = Firms control thye behaviour of competitors.
Strong = Firms can take independent decisions.
Favorable = Good strenght and more than avarge opportunity to improve.
Tenable = In this way it can remain good enough. Sufferance of the dominant. Less than
aveage opportunity to improve.
Weak = Unsatisfactory performance, but there is an opportunity to improve. Change or exit!
Remain same is impossible.
Nonviable = No opportunity to improve à RIP.
Table page 249! Read text above it: IMPORTANT!!!!
Market share = share of market = marktaandeel.
Mind share = share of mind = hoeveel mensen in % noemen jou bedrijf als eerste op bij een trefwoord.
Heart share = share of heart = hoeveel mensen in % noemen jou bedrijf als favoriet.
Companies that make gains in mind and heart share will inevitably make gains in market share
and profitability.
• Reaction patterns
How does the competition react on an attack?
Competitors are nearly identical à competitive equilibrium (=evenwicht) is unstable.
A single major factor is the critical factor à competitive equilibrium (=evenwicht) is unstable.
Multiple factors may be critical à REA D FURTHER PAGE 250/251! IS NOG NIET AF
BELANGRIJK!!
Designing the competitive intelligence system
4 main steps in desgining a competitive intelligence system:
• Setting up the system
Identifying vital types of competition information, identifying the best sources of this information and
assigning a person who will manage the system and its services.
• Collecting the data
On continious base: sales force, channels, suppliers etc. from people who do business with competitors,
from observing competitors etc.
• Evaluating and analyzing the data
Data is checked for validity, reliability. Data is interpreted and organized.
• Disseminating information and responding
Key information is sent to relevant decision makers. Via mail/phone/reports etc.
Customer Value Analysis (CVA) = customers choose between competitors on the basis of which delivers the most
customer value.
Customer value = customer benefits – customer costs
Customer benefits = product benefits + service benefits + personnel benefits + image benefits
Customer costs = purchase price + acquisition costs + usage costs + maintanence costs + ownership costs + disposal
costs. Example page 253!
Major steps in a CVA:
Identify the major attributes customers value
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Customers are asked what attributes and performance levels the look for in choosing a product
and vendors.
Assess the quantitative importance of the different attribute.
Customers are asked to rate the importance of the different attributes.
Assess the company’s and competitors’ performances on the different customer values against
their rated importance.
Customers describe where they see the company’s and competitors’ performance on each
attribute.
Examine how customers in a specific segment rate the company’s performance against a
specific major competitor on an attribute-by-attribute basis.
If the company’s offer exceeds the competitors’ offer on all attributes, the company can charge
a higer price or keep the same price and gain market share.
Monitor customer values over time.
The company must redo the studies over and over again. Because of changes
After the CVA, the company can focus on the attack on one of the following classes:
Strong vs Weak
Mostly they aim at weak competitors. But then they will achieve little, so they often attack also
strong.
Close vs Distant
Mostly compete with the compititors closest to them. But distant is also important.
Example Coca Cola sees water as its main compititor, NOT pepsi.
Good vs Bad.
Company should support good compititor and attack bat competitor. READ PAGE 254!
Designing competitive strategies
Figure page 255!
• Market-leader strategies
Largetst market-share. Usually leads the other firms in price changes, new-product introductions,
distribution coverage and promotional intensity. (Microsoft, Kodak, Coca-Cola, McDonalds etc.)
There are all kind of problems possible for the firms in this strategie: page 255 with /.
3 actions for these firms to take:
Expanding the total market demand, by looking for:
o New users (example page 255)
§ Market-penetration strategy (those who might use it but do not)
§ New-market segment strategy (those who never used it)
§ Geographical-expansion strategy (those who live elsewhere)
o New uses
Discovering and promoting new uses for your product.
Example: use kodak not only on vacation, but promote it for other occasions.
Example: vasilne was a machine lubricant, but people discovered it was good for
skin.
o More usage
Let the consumer use more of your product. For example shampoo. Wash, rinse
and repeat.
Example page 256. Zeer goed voorbeeld 2x!
No company comes with a product of infinite use, for example a battery that
never stops, because, the want more usage!
Protect current market share (deffensive + offensive)
Defend your current business. You’re an elephant attack by a swarm of bees.
Example page 256/257 2x!
The best defense is a good offense à continuous improvement (the leader leads the other
as early sad).
If you don’t stay offensive, then at least you must be defensive: Example page 258!
Summary: The aim of the defenidng strategy is to reduce the probability of an attack,
lessen the intensity of the attcack and divert attacks to less threating areas.
Figure page 258! 6 types of defense strategies:
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2)
3)
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Position defense (build superior brand power)
Flank defense (examples page 259!)
Preemptive defense (aggressive method, attack the attacker before he started
his attack)
4) Counteroffensive defense (attack back)
5) Mobile defense (attack attacker on other products/markets)
a. Market broadening (from oil to energy company)
b. Market diversification (page 260!)
6) Contraction defense (give up the weaker parts and go further on your
stronger parts)
They can try to increase market share
ROI rises with relative more market share.
Figure page 261!
NOG DOEN page 261 + 262!
2 BIG EXAMPLES AT PAGE 263/264 OF 2 COMPANIES PROTECTING THEIR MARKET
SHARES AGAINST CHALLENGERS!!!!!!!!!
Market-challenger strategies
Example: Pepsi.
The market challenger needs to increase maerket share, it can attack:
Market leader (high risk, but with potential high payoff)
Firms of its own size (that are asking excessive prices, not satisfying customers well etc.)
Small local and reginal firms
Attack strategies figure page 266!:
Frontal attack (= attacker matches its product, price, advertisment and distribution with that of
the defendant, be at least beter on 3 of these things)
Flank attack (= attack the weak point, more succes because you need not more resources than
the defendant)
o Geographical (attack on spots where opponent is underpeforming)
o Segmental (attack uncovered market needs, example page 265/266 with /)
Encirclement attack (attack in a blitz, and capture a large part of the enemies territory, attack
on many fronts example page 266!)
Bypass attack (indirect, bypass enemy and attack easier markets, examples page 267!)
o Diversifying into unrelated products
o Diversifying into new geograpical markets
o Leapfrogging into new technologies
Guerrilla warfare (= small, intermittent attacks to harass and demoralize the opponent and
eventually secure permanent footholds, example page 268!, it’s a preparation of another attack,
one of the four others )
Specific strategies READ PAGE 268/269:
Price discount
Lower price goods
Prestige goods
Product proliferation
Product innovation
Improved services
Distribution innovation
Manufacturing-cost reduction
Intensive advertising promotion
Market-follower strategies
Imitation can be as succesful as innovation. The innovator has R&D costs, with as reward moslty
market-leadership. But another can improve and copy a product. Probably it wont become better than
the leader, but it can gain profits, because they don’t have innovation costs. Mostly in capital-intensive
and homegeneous markets (such as steel, chemicals etc.)
4 strategies:
Counterfeiter (= duplicates products/packages and sells it on the black ma rket; rolex, mp3)
Cloner (= emulates products/name/packages with slight variations; PC’s)
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Imitator (= copies some things from the leader but maintains differentition in terms of
packages/advertising/pricing and location, the leader has no problem with this , unless attacked
of course)
Adapter (= takes the products and improves them, mostly they become challengers)
Market-nicher strategies
Leader in a small market or niche! Avoid competition with larger firms by targeting niches, that are
little or no interest to the big firms. Example page 270, but big firms also deliver to niches. Example
page 270.
Niches are very profitable, mostly more than big markets. Cause: niche firms know their clients better
à meets the customers better à price can become higher à h iger margin à higer profit.
3 tasks of nichers:
create niches
expanding niches
protecting niches
Watch out, you can easily be attacked, and than you remain with equipment that cant be used
elsewhere. The key of the niche market is specialization: PAGE 271 KENNEN!!!
Multiple niches “bedienen” is better than one à increases survival opportunities.
Balancing customers and competitors orientations
You have 2 sorts of companies READ PAGE 273!!! NOT YET DONE!!!:
1) Competitor-centered
2) Customer-centered
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HOOFDSTUK 10
Paragraaf NIET leren:
Bases for segmenting business markets
Levels and patterns of market segmentation
Mass-marketing = Seller engages in the mass production, mass distribution and mass promotion of one product for
all buyers. Examp le: coca cola in de past only sold 1 cola in 1 size bottle.
Nowadays companies are turning to micromarketing (4 levels):
• Segments
Market segment = group of customers who share a similar set of wants.
Whatch out: difference between segments and sectors.
Exa mple:
Segments à people who want low-cost transportation and those who want luxury
transportation.
Sectors à company targets young, middle -income car buyers. Because in that group there
are buyers who want low-cost and there are who want luxury.
The marketer doen’t make the segments, but identifies it and decides which one to target at. Benefit
over mass-marketing: company can fine-tune product and price it properly for the target market, better
distribution and communication, and they can better watch the competition in the same segment.
Naked solution = product/service element that every segment member value.
Discretionary solution = that some members value.
• Niches
Niche = more narrowly defined group seeking a distinctive mix of benefits. Mostly it’s a segment
divided into subsegments.
Example: Segments à smokers
Subsegments à The ones who want to stop and who don’t want to stop
Characteristics of a attractive niche:
Customers have a distinct (=duidelijk) set of needs
They will pay a premium to the firm that best statisfies their needs
The niche doesn’t attract other competitors (mostly!)
Specialization
Niche has growth, size and profit potential
Examples page 280!
The firms in a niche know the customers needs so well that they are willing to pay a premium to the
firm. Example page 281 with /.
• Local areas
Marketing programs aim often at needs and wants of local customer groups.
• Indviduals
This is the ultimate level of segmentation. They aim at the individuel.
Mass-customization = the ability of a company to prepare on a mass basis individually designed
products, services, programs and communications to meet each customers requirements.
Choiceboard = interactive online system that allows individuals customers to design their own products
and services by choosing from a menu of attributes, components, prices and delivery options. The
online system sets procurement, assembly and delivery in motion.
Benefits of choiceboard:
Real-time market research and insight in current customers preferences.
Reduces costs (avoiding production of unwanted goods, so now over-stock that has to be sold
at high discount).
Facilitates upselling, cross-selling and repeat business by opening customers eyes to further
possibilities and by satisfying their preferences.
Customerization = combination of mass customizing and customized marketing. In this way customers
can design the product or service by theirselves (empowerment of customers).
Disadvantage: databses needed etc.
3 preference patterns in segments FIGURE PAGE 283:
1) Homegeneous preferences
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2)
3)
All customers have roughly the same preferences.
Diffused preferences
All customers have different preferences.
Clustered preferences
Groups of customers have the same preferences. These groups are calles natural market segments.
Steps in segmentation process: figure page 286!!!
Demographic is not good, because different age classess haven’t always different needs etc. You need a need-based
segementation approach (figure page 286).
Segmentation needs to be done peridically, because segments change.
Marketing partitioning = a way of discovering new segments to investigate the hierarchy of attributes consumers
examine in choosing a brand. Vroeger in de autoindustrie vooral: brand-domination waarop men koos. Nu vooral
nation-dominant (waar het vandaan komt; een jap of een amerikaan).
Not all segemntation is useful. Example salt buyers, its not important to have a blond market and a brown market.
To be useful, market segments must be:
Measurable (= characteristics can be measured)
Substantial (= segments are large and profitable and the largets possible homogeneous group)
Accesible (= segments can be effectively reached)
Differentiable (= segments are conceptually distinguishable and respond differently to different
marketing-mix elements and programs, if 2 groups respond the same, then they are 1
segment!)
Actionable (= effective programs can be formulated for attracting and serving the segments)
Segmenting consumer and business markets
Consumer markets segmentation FIGURE PAGE 288! IS EEN SUMMARY OF WHAT NOW COMES
All these 25 points can be used for market segmentation:
• Geographic segmentation
Dividing market into different geographical units.
Nations
States
Regions
Counties
Cities
Neighborhoods
Firms pay attention to the different local variations. They can work in all or some, but that is logical.
Example page 287 with /.
• Demographic segmentation (most important one, because preferences are usually based on these
elements)
Market is divided in groups based on:
Age (vb page 289/290, watch out: age can be tricky, page 290 with /)
Life stage (marriage, divorce, buy new home etc.)
Family size
Family life cycle
Gender (vb page 290)
Income
Occupation
Education
Religion
Race
Generation (HOT nowadays! Music, politics etc.)
Each generation has its own influences, such a group of a generation is called a COHORT.
PAGE 291 with /.!!!!!!
Nationality
Social class (upperclass wants styaus etc.)
• Psychographic segmentation
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•
Dividing based on:
Lifestyle (people have different attitude, interest, activities etc. Example page 291/292 with /)
o Time -constrained (multitasking: do more things at one time vb they love microwave
meals)
o Cost-constrained
Personality
Read page 292.
Values
Some marketers segment by core values = belief system that underlies consumer attitudes and
behaviours.
Behavioral segmentation
Some believe that these following row is the best possible way of segmenting (thus on basis of one of
them)
Occasions (distinguish according to when they develop a need, purchase a product or use a
product Example: air travel) READ PAGE 293 with /
Benefits (everyone has other benefits for a product, example page 293 with /)
User status (nonuser, ex-users, potential etc.)
Usage rate (light, medium, heavy)
Loyalty status (= a deeply held commitment to re -buy… a preffered product in the future,
despite of situational influences and marketing efforts from others to cause potential switching)
o Hard-core (never leave)
o Split (loyal to 2/3 brands)
o Shift ing (shift from 1 to another)
o Switchers (have no loyalty to nobody)
Readiness stage (people are about a product: unaware, aware, informed, interested, desired or
intended to buy) This can make much difference for the marketing program.
Attitude toward product (enthousistic, positive, indifferent, negative, hostile)
Don’t even try to convince the hostile ones!
Geoclustering = a form of multiattribute segmentation
Combine a few of previous (25 points) called variables.
Geoclustering = READ PAGE 295 with /!!!!!! IMPORTANT
Many consumers hop from one segment to the other (cross-shoppers):
Very simple Vb) classes: 15 to 20 years old – 21 to 25 years old
People can hop from the first segment to the second.
Market marketing
The segments are identified. Now they have to decide how many and which ones to target.
Thereby they have to look at:
• Segments overall attractiveness
• The companies resources and objectives
5 patterns of target market selection FIGURE PAGE 299! + read text page 299/300 NOT YET DONE,
IMPORTANT!:
• Single -segment concentration
• Selective specialization
• Product specialization
• Market specialization
• Full market coverage
4 considerations by segment evaluation:
• Ethical choice of market targets
You must be fair etc. Otherwise customers aren’t happy.
• Segment interrelationships and supersegments
Interrelationship: Economies of scope possible!!
Supersegment = a set of segments sharing some exploitable similarity.
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•
•
Example: symphomy orchestras target at people who have broad cultural interests, rathar than only
those who regularly attend concerts.
Segment-by-segment invasion plans
A company must be smart to enter segment by segment, without revealing their whole expansion plans
to others. FIGURE PAGE 302!
Many comapanies fail to make such a long term plan, but Pepsi for example did it good!
Megamarketing = the strategic coordination of economic, psychological, political and public -relations
skills to gain the cooperation of a number of parties in order to enter or operate in a given market, that
was blocked.
Examp le: Pepsi, example PAGE 302!
Intersegment cooperation
Read page 302/303! Not yet done!
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HOOFDSTUK 11
Paragraaf NIET leren:
N.V.T.
Developing and communicating a positioning strategy
All market strategy is built on STP (segmentation, targeting, positioning).
Positioning = the act of designing the companies offering and image to occupy a distinctive place in the mind of the
target market.
Result of positioning is Value proposition = figure page 308!
Ries and Trout see positioning as not to the product but in the mind of the prospect. 3 strategies to attack a
competitor:
1) strengthen own position in customers mind
2) grab an unoccupied position
3) de-position / re-position the competitor (laat merken dat hun slecht zijn of iets dergelijks)
Product ladders = vb) coca cola – Pepsi – river cola. Men onthoudt meestal alleen de eerste.
Treacy and Wiersema see positioning as a framework (=value disciplines)
A company can fall in 3 categories: product leader, operationally excellent firm or customer intimate firm.
Respectively based on product, reliable performance or meeting individual customer needs.
Businesses should follow the next 4 rules for success:
1) become the best in 1 of the 3 value disciplines
2) Achieve adequate performance level in the other 2
3) Keep improving the chosen 1
4) Keep becoming more adequate in the other 2
How many ideas (=benefits, features) should a company convey to the customers?
Many marketers promote to use just one! Such as best quality, fastest etc. à Unique selling proposition
Works not always, vb) zeg niet dat je car safe is, want dat zijn ze tegenwoordig allemaal wel. Dubbel of driedubbel
komt ook voor. 4 positioning errors:
1) Underpositioning, te weing benefits , men ziet geen verschil tussen jou merk en de andere.
2) Overpositioning, te veel, daardoor versmald je market. Vb) page 311
3) confused positioning, veranderd te vaak van benefits
4) doubtful positioning, men gelooft je genoemde benefits niet
Perceptual map, goed doen à page 311/312
7 positioning possibilities see page 311/312:
1) attribute positioning
2) benefit positioning
3) use or application positioning
4) user positioning
5) competitor positioning
6) product category positioning
7) quality or pricing positioning
Read page 312/313: which positioning to promote!
To communicate your positiong, your marketing plan should include a positioning statement. This includes:
Read example page 313 with /. 2x
Als je voor iets kiest als quality dan moet alles daarheen wijzen, dus ook meer herrie op een grasmaaier, want meer
herrie wordt geassocieerd met een sterke motor. Voorbeelden van foute, bullets page 314!
Adding further differentiation
Differentation = process of adding a set of meaningful and valued differences to distinguish the companies offering
from competitors offerings. (goes beyond positioning)
Criteria uitleg lees pagina 315!!!!! Is anders dan je verwacht!:
• Important
• Distinctive
• Superior
• Preemptive
• Affordable
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• Profitable
3 step process:
1) Defining the customer value model
List of products and service factors that might influence the target customers perception of value.
2) Building the customer value hierarachie
Assign each factor to 1 of the following groups vb) page 317!:
* basic
* expected
* desired
* unanticipated
3) Deciding on the customer value package
uitvoer
Differentiation tools
Table page 317! 4 types of industry based on….see page 317…..LEES UITLEG PAGINA 317!:
1) Volume industry
2) Stalemated industry
3) Fragmented industry
4) Specialized industry
5 dimensions of differentiation Table page 318! LEZEN NOG NIET GEDAAN, ZEER BELANGRIJK, STAAN
BEGRIPPEN BIJ:
• Product
o Form (color, shape etc.)
o Features
o Performance (performance quality = how the primary functions work)
o Conformance
o Durability
o Reliability
o Repairability
o Style (look and feel for the buyer)
o Design (The integrating force, the way in which the total of features affect the looks and functions
of a product in terms of the customer requirements)
• Services
o Ordering ease
o Delivery
o Installation
o Customer training
o Customer consulting
o Maintenance and repair
o Misscellaneous
• Personnel
o Competence
o Courtesy
o Credibility
o Reliability
o Responsiveness
o Communication
• Channel
o Coverage
o Expertise
o Performance
• Image
o Symbols (colors, slogans, special attributes etc.)
o Media
o Atmosphere
o Events (and sponsorships)
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Product life-cycle marketing strategies
PLC
4 aannames:
1) Products have a limited life
2) Sales pass through different stages. Each posing different challenges, opportunities and problems
3) Profit rises and falls at different stages of the PLC
4) Products require different marketing, financial, manufacturing, purchasing and human resources in each
life cycle stage.
4 stages of the PLC FIGURE PAGE 328 Belangrijk!:
1) Introduction
2) Growth
3) Maturity
4) Decline
Mostly bell-shaped, but can also be other other shapes:
Figure page 329, Growth-slump -maturity pattern, cycle-recycle pattern, scalloped pattern.
Respectivelijk vooral bij keukenapparaten, medicijnen, nylon (steeds weer nieuwe gebruiksmogelijkheden)
3 Special life cycles FIGURE PAGE 330:
Style: can last for generations
Fashion: Hard to predict
Fads: Fashions that arive quickly, adopted fast and decline fast Example page 330!
Introduction stage
Slow start, due to tdchnical problems, delays, complexity, expensive etc.
Page 330 t/m 331 nog doen! Very important, was tentamenvraag!
Competitive cycle (when you introdude a new thing, the competition will eventually also enter) has 5 stages:
1) Sole supplier
2) Competitive penetration (gedwongen prijs te verlagen)
3) Share stability (overcapacity ? no new entrentans will come)
4) Commodity competition (product wordt gewoon, men betaalt er geen premium meer voor)
5) Withdrawel (bedrijven gaan zich terugtrekken)
Growth stage
Rapid climb in sales. Decline of promotion costs. Profits go up. Strategies to systain rapid market growth:
• Improve product quality, improve styling and add new features.
• Add new models and flanker products (andere smaken etc.)
• Enter new market segments
• Increases distribution coverage and enter new distribution channels
• Shift from product awareness advertisng to product preference advertising
• Lower prices to attract the next layer of price sensitive buyers
Example page 333 2x.
A company can in this stage spend money on improvement etc. Then the profit will be lower and in the next stage it
will be much higher.
Maturity stage
Sales growth will slow (mostly the longsest stage). Most products are in this stage.
3 fases:
1) Growth (wordt wel minder, helling neemt af)
2) stable
3) decaying maturity (sales neemt af)
Door sales decline onstaat er overcapaciteit. Dus de concurrentie verhevigd.
Meestal heb je een paar dominanten (1 van elk: cost leader, quality leader, service leader) Daar omheen heb je
market nichers. Mature markets moet je niet nderschatten, vb) auto is dat al jaren, maar er is nog steeds heel veel te
halen! Example page 334!
Strategies:
• Market modification
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]
•
•
Try to expand the market fot its mature brand by:
Volume = number of brand users(1) x usage rate per user(2)
(1) It can try to convert non-users into users
Or it can try to enter new market segements (vb baby shampoo ook voor adult!)
Or it can try to win competitors customers
(2) Let them use it on more occasions
Or use more of the product on each occasion
Or use the product in new ways
Product modification
o Quality improvement
Increase functional performance. Nu verbeterd, nu nog sterker etc. strategie.
Vb van verkeerde aanpak, page 335 (coca cola)
o Feature improvement
Add new features (accdesoires, size, weigth etc.)
Example page 335 à Vlasic food VERY !!!!!!!
If you do this, you will get the stempel of een innovator. Image goes up.
o Style improvement
Vb auto industry
Vb nieuwe verpakking
Hard to predict what customers will aprreciate and what not. New style means get rid of the old
one, and maybe you will loose clients because of that.
Marketing-mix modification (UITLEG PAGE 336!!)
o Prices
o Distribution
o Advertising
o Sales promotion
o Personal selling
o Services
Decline stage
Overcapacity, price cutting and profit erosion.
Sales kunnen 0 worden, maar ook op een laag nivo blijven.
Weak products à get rid of them à they cost very much. Includign hidden costs as, management time etc.
Exit barriers are important.
5 strategies for companies in the decline stage:
1) Increase the firms investment (to dominate or strenghten its competitive position)
2) Maintaining the firms investment until uncertainities in the business are resolved.
3) Decrease the firms investment level selectively, by dropping unprofitable customer groups and
strenghten investments in lucrative niches
4) Harvesting (milking) the firms investment to recover cash quickly
5) Divesting the business quickly by disposing of its assets as advantageously as possible
Example page 338/339!
Harevsting is keep sales (try) and reduce all costs.
PLC is not useful for forecasting. It is for planning and control. Het is te statisch, volgens model redlijk vaste stages,
maar in het echt zijn ze geen van alle gelijk. Lees page 339 bij critique!
FIGURE PAGE 340!!! KENNEN TENTAMENVRAAG! LINK MET 4 P’s!
Market evolution
Overall market life cycle. Example page 339/340.
Stages in market evolution:
1) Emergence (needs zijn er, de wants nog niet)
Diffused-preference market = buyer preferences scatter evenly. Sommige willen rekenmachine met
alleen + - / *, andere willen alles erop en eraan. 3 options:
• Single niche strategy (maak product voor 1 van die wens groepen)
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•
•
2)
Multiple niche strategy (maak voor iedereen iets wat ze willen)
Mass-market strategy (zoek een middenweg)
Growth
If the product sells well, other firms will enter. The entering firm has 3 options, the same ones!
3) Maturity
Growth slowes down. Firms have invaded each others segments. Profits go down. Then market
fragmentation occurs. Figure page 342!!! To are unserved, because that segemtns are to small for a
good profit. After that market consolidation follows. Door een nieuw attribute drukt dat bedrijf andere
weg. En blijft er in het midden een pionier over. Lees tekst naast plaatje! Staat meer in! A consolidated
market wont last, others can come with new features to.
4) Decline
Demand decreases.
Heel belanrijk voorbeeld op pagina 342: the paper towel market!!!!!!
4 approaches of discovering new attributes UITLEG PAGINA 343!:
1) customer-survey process
2) intuitive process
3) dialectical process
4) needs-hierarchy process
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HOOFDSTUK 12
Paragraaf NIET leren:
PAG. 349-375
The consumer-adoption process
= process by which customers learn about a product and try them and adobt/reject them.
Adoption = an individuals decision to become a regular user of a product.
Consumer-adoption process is followed by the consumer-loyalty process.
Mass-market approach nadelen: - heavy marketing expenditures
- many wasted exposures
Heavy-user terget marketing approach = lees pagina 376 with /.
Marketers nowadays aim on heavy-users and early adopters. Because they are easy reached and mostly are opion
leaders, so they will spread the message to others.
Innovation = any good, service or idea that is perceived by someone as new (ook al bestond het al, als het voor
diegene nieuw is dan is het een innovatie).
Innovation diffusion process = the spread of a new idea from its source of invention or creation to its ultimate users
or adopters. 5 stages:
1) Awareness (becomes aware of the innovation, but lacks info)
2) Interest (people search for info about innovation)
3) Evaluation (consider if to try it)
4) Trial (try it)
5) Adoption (decide to regulary use it)
Voorbeeld van blijven steken in 1 van die 5, page 376!
Factors influencing new products:
• Diffrences in individual readiness to try new products
• The effect of personal influence
• Differing rates of adoption
• Differences in organizations readiness to try new products
Adopter categories Figure page 377!:
• Innovator
• Early adopter
• Early majority
• Late majority
• Laggards
Innovativeness = degree of how early someone is in adopting new ideas in contrast with other members of the social
system.
Mostly the first group are people young, with money and higher social status.
Personal influnce = the effect one person has on another’s attitude or purchase probability (=kans).
Example page 377/378.
5 characteristics that influence the rate of adoption of an innovation:
Relative advantage (degree of superiority of innovation above existing products)
Compatibility (degree of matches with values and experiences)
Complexity (degree of understanding product)
Divisibility (degree it can be tried on limited bases)
Communicability (the way benefits are describable to others)
Lees stukje pagina 378 hierover door = VOORBEELD!!!
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HOOFDSTUK 14
Paragraaf NIET leren:
N.V.T.
The product and product mix
Product = anything that can be offered to a market to satisfy a want or need. (physical goods, services, experiences,
persons, events etc)
Figure page 408! The 5 levels together form the customer value hierarchy. Each level adds more customer value.
Core benefit = fundemental service or benefit that the customer is really buying. (vb boormachine, dan koop je
eigenlijk holes).
Basic product = concretisering core benefit. (vb boormachine)
Expected product = set of attributes and conditions buyers normally expect.
Augumented product = exceeds customer expectations (vb page 407!)
Potential product = all the possible augmentations and transformations the product or offering might undergo in the
future.
Competition is moslty at the augemented level!
Consumption system = the way the user performs the tasks of getting and using products related services.
Augementation, let op:
adds costs
benefits become soon expected benefits
Competitors might offer a stripped down version of your product for a lower price (vb rise of
hilton hotel, cheap hotels arrived also)
Each product is related to other products. 6 levels of the product hierarchy:
1) Need family (alles met dezelfde core need, security)
2) Product family (alles dat die need kan vervullen, savings and income)
3) Product class (alles met een bepaalde functionele overeenkomst, financial instruments)
4) Product line (perform a similar function, sold to the same customer groups, marketed through the same
channels or fall within give price ranges, Life insurrance)
5) Product type (share similar forms, term life)
6) Item = stockkeeping unit = product variant (zie boek, belangrijk!)
Product system = group of diverse but related items that function in a compitable manner. VB boek met /. Page 410!
Product mix (assortment) = set of all products and items that a particular seller offers for sale to buyers.
Products can be classified according to 3 characteristics:
1) Durability and tangability
a. Nondurable goods (consumed quickly and purchased frequently, sell at many places, advertise
heavily)
b. Durable goods (Personal selling)
c. Services
2) Consumer-goods classification
a. Convenience goods (frequently and with a minimum of effort)
i. Staples (regular basis)
ii. Impuls goods (without planning or effort)
iii. Emergency goods (need is urgent, zoals paraplu tijdens regen)
b. Shopping goods (consumer selects on suitability, price, quality and style)
(vb meubels, kleidng, auto)
i. Homogeneous goods (quality same, price different)
ii. Heterogeneous goods (differ in features etc.)
c. Specialty goods (uniek, men is bereid ervoor effort te doen.)
(vb cars à mercedes, stereo components, men suit; men is bereidt om hiewrvoor moeite te doen)
Mensen zijn er speciaal naar opzoek, andere komen toch niet, dus je kunt je winkel best afgelegen
leggen, als die mensen die het zoeken maar makkelijk kunnen achterhalen waar dat is.
d. Unsought goods (people don’t know these or people do not thinking about it to buy it)
(vb smoke detector, encyclopdia)
3) Industrial-goods classification
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a.
b.
c.
Materials and parts
i. Raw matarials
1. Farm products (katoen)
2. natural products (oil, fish) à long term contracts
ii. Manufactured materials
1. materials (iron, cement, wires) à will change
2. parts (tires, small motors) à wont change, used directly
Capital items (long lasting goods that facilitate developping or managing the finished product)
i. Installations (buildings and liften, machines etc)
ii. Equipment (pc, buro, tools, lift trucks etc.)
Supplies and business services
i. Maintenance and repair items (nails, paitn etc.)
ii. Operating supplies (lubricant, coal, paper, pencils etc.)
iii. Maintenance and repair services (window cleaning, copier repair etc.)
iv. Business advisory services (legal, advertising, managament consulting etc.)
Produc mix (=product assortment) = set of all products and items that a particular seller offers for sale to buyers.
Vb) kodak: image products and information products.
Product mix consists of:
• Width (aantal product lines)
• Length (aantal products in the mi x)
• Depth (aantal varianten of elk product in de line)
• Consistency (how closely related the different lines are)
Figure PAGE 413! Lees tekst voor uitleg!
Product-line decisions
Product mix consists of various product lines.
Figure page 414 shows a sales and profit report for a 5-item product line.
4 types of products with different gross margins, depending on sales volume and promotion:
1) Core product (basic product, low margins because it is almost undifferentiated)
Basic PC
2) Staples (lower sales and no promo tion, higher margin)
Upgrade memory, faster CPU
3) Specialties (lower sales, highly promoted)
Installation, digital movie-making equipment
4) Convenience items (high volume, less promotion, higher margins)
Monitors, printers etc.
Product map à Figure page 415! + Lees tekst eronder voor uitleg!
Product line is too short, if profit will increase bu adding an item. And too long if profit increases by dropping an
item. Product lines will lenghten over time, because new products arrive. But costs will rise too, so there is a limit.
Companies lengthen product lines in 2 ways:
1) line strectching
lenghten its product line beyond its current range. (vb BMW is in the upper pricing range, lengthen can be
into the middle pricing range).
• Downmarket stretch
Company in the middle market may want to expand into the lower-priced, for 3 reasons:
a. growth opportunities (walmart etc.)
b. against competition (if someone is the cheaper one, en daardoor jij inkomsten mis loopt, val je hem
terug aan in het lagere nivo)
c. middle market is declining
Let op dat je eigen klanten niet naar de lagere lopen!
• Upmarket stretch
Growth, higher margins, or for a good name.
• Two-way stretch
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2)
line filling
lenghten its product line within the current range
Consumers moeten het verschil kunnen zien, anders te verwarrend.
Just-noticeable difference is needed!
Brand decisions
Well-know brands can ask a price premium.
Brand = a name, term, sign, symbol or design or a combi of them, intended to identify the goods or services of one
seller or group of sellers and to differentiate them from those of the competitors.
The brand has 6 levels of meaning, uitleg page 418/419!!!:
• Attributes
• Benefits
• Values
• Culture
• Personality
• User
Companies need to research the position their brand occupies in the mind of the customer.
3 research methods:
1) Word associations
2) Personifying the brand
Let people describe what kind of person/animal is thought about if a certain brand is called.
3) Laddering up to find the brand essence
Brand essence = the deeper, more abstract goals someone tries to satify by the brand.
Vb) page 419 with /.
Laddering up = de reeks van why vragen in vorige voorbeeld.
Brand pyramid: brand attributes à brand benefits à beleifs and values.
A brand is better positioned when it is associated with a benefit.
Vb) Volve à safety
Do not use only one benefit such as safety, because other can be safe too and then you are not better anymore than
the competitor.
They can also inclued a emotional branding à pak ze op een deeper level. Gucci etc. pakken je meer op emotional
dan op product attributes.
Brand is not only a name, symbol, color etc. But also a strategy an tactic.
Brand bonding = customers experience the company as delevering on its benefits promise.
BRANDS ARENT’T BUILT BY ADS, BUT BY THE BRAND EXPERIENCE.
Ads can give, preferences, knowledge about product and recognization.
Internal branding = everyone in the company has to live the brand. They must understand, desire and deliver the
brand promise.
Rijtje pagina 421/422 Nog doen!!!
People’s attitude toward a specific brand:
1) Not known (people change brands based on price)
2) Brand awareness (customer is satisfied)
3) Brand acceptability (they will incur cost by chaning brand)
4) Brand preference (seen as friend)
5) Brand loyal (devoted to brand)
Brand equity = the positive differential affect that knowing the brand name has on customer response to the product
or service. Men kiest voor de bekende, bij 2 gelijke producten.
Brand valuation = Total financia l value of the brand.
Competitive advantages by having a high brand equity:
• More bargaining power with distributors and retailers
• Charge higher price (higher perceived quality)
• Launch other products easier with succes (door good name)
• Defense against price competition
Example page 424!
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FIGURE PAGE 425!!! Branding decisions
BLZ 426 t/m 436 nog doen!!! ZEER BELANGRIJK!!!
• Branding decision
o Brand
Voordelen boven het niet branden:
easier to track down problems and orders
name provide legal protection of product attributes
attrackt loyal customers
helps segmenting market
build corporate image à easier to launch new products
o No-brand (mostly the cheaper ones, by lower costs of ads, packing, quality etc.)
• Brand-sponsor decision
o Manufacturer (national) brand
o Distributor (private, reseller, house or store) brand
Vb) AH eigenmerk
o Licensed brand
• Brand-name decision
o Individual names
o Blanket family name
o Separate family name
o Company individual names
• Brand strategy decision
o Line extension
o Brand extension
o Multibrands
o New brands
o Cobrands
• Brand repositioning decision
o Repositiong
o No repositioning
Packaging and labeling
Packaging is often called the 5th P (or as part of the P à product).
Packaging = all activities of designing and producing the container for a product. The container is called the package.
3 levels of materials in a package:
1) Primary package (cardboard box)
2) Secondary package (corrugated box)
3) Shippng package (grote doos)
Factors that have influenced the growing use of packing as a marketing tool:
• Self-service
• Consumer affluence
Consumer are willing to pay more for prestige, appearance, convenience and dependability
• Company and brand image
Zie boek page 436!
• Innovation opportuniy
Idem…page 436!
Test the packaging:
• Engeneering test (if it can stand normal conditions)
• Visual test
• Dealer test (is it attractive and easy to handle for dealers)
• Consumer test (to ensure favorable consumer response)
Example page 437!
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Label functions:
• identifies
• grade
• describe
• promote
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HOOFDSTUK 16
Paragraaf NIET leren:
N.V.T.
Setting the price
A firmk has to set a price for the first time when it develops a new product, when it introduces a regular product into
new distribution channels or geographical area and when it enters bids on new contract work. VB page 472 rows +
with /.
Figure page 472 ZEER !!! Dat zijn 9 strategieen voor price-quality verhoudingen. 2/3/6 is attacking the diagonal.
4/7/8 is overpricing. Figure page 473!
6 steps in setting the pricing policy *figure page 473 onder):
1) Selecting the pricing objective
Ask yourself where you want to position your product. 5 objectives they can pursue through pricing:
a. Survival (bij changing wants, overcapacity or intense competition)
b. Maximum current profit
c. Maximum market share (higher long-run profit)
Achive by setting prices low, so people come to you à Market-penetration pricing.
d. Maximum market skimming (VB sony page 474!…Read page 474 erbij)
e. Product-quality leadership (VB mytag page 474!)
f. Partial cost recovery (bij universities)
g. Full cost recovery (bij hospitals)
2) Determining demand
Each price will lead to a different level of demand. Figure page 476! The lines can be upward at prestige
goods à a higher price in that case, means a better prestige, social status etc.
People are more price-sensitive at products that are bought frequently or cost a lot.
List page 476 à factors associated with lower price-sensitivity.
Internet increases price-sensitivity.
Approaches (3x) for estimating demand curves:
a. statistical analysis
b. price experiments
c. question customers, how many they uy at what price.
Marketers need to know how responisve (elastic) demand would be to a changing price.
If demand changes considerable than demand is elastic. If demand changes hardly than it is inelastic.
Demand is less eleastic, when:
a. there are no or few substitutes
b. buyers do not notice the higher price
c. buyers are slow in changing buying attitudes
d. Buyers think the higher price is justified
Voorbeeld hoe het niet moet page 477/478!
Price indifferent band = area in which price channge has little or no affect.
3) Estimating costs
Demand sets the cailing for the price.
Costs sets the floor for the price.
Fisex costs (overhead)
Variable costs
Total costs (F + VxQ)
Average costs ((f + VxQ)/Q)
Figure page 478!
Figure page 479 à je leert door oets te doen en je wordt er steeds beter in. Experience curve or learning
curve!
ABC (activity-based) costing à all costs will be related to the individual customer.
Target costing à read page 480!
4) Analyzig competitors costs, prices and offers
5) Selecting a pricing method
a. Mark-up pricing (simple costs + wat wil je verdienen)
Markup price = unit cost/(1-desired return on sales)
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VB) zie boek page 480!
Mostly on products to safe profits in worse times à mostly seasonal products.
Ook veel bij medicijnen.
Voordeel: Easier, iedereen gebruitk de methode dus gelijke prijzen, fairer for sellers and users.
b. Target-return pricing
Return on investment (ROI)
Target-return price = unit cost + (desired return x invested capital)/unit sales
VB page 481!
Figure page 482!
Break-even volume = fixed costs/(price-variable cost)
c. Perceived-value pricing
Vanaf deze tot en met group pricing nog doen!
d. Value pricing
e. Going-rate pricing
f. Auction-type pricing
g. Group pricing
6) Selecting the final price
Additional factors which companies have to consider:
a. Psychological pricing
Men drukt kwaliteit vaan uit in de prijs. Vb) geurtje, bevat slechts voor 10 euro geur, maar wordt
aangeboden voor 100 euro à price acts as a signal for quality.
Reference price = zie sheets = buyers carry a price in their minds, waaraan ze de prijs in de winkel
vergelijken.
Reference price is formed by (zie sheets!):
i. Current prices
ii. Past prices
iii. Buying context
Vb) van….voor…. aanbiedingen
Vb) 299 i.p.v. 300 etc.
b. Gain-and-risk-sharing pricing
See page 487!
c. The influence of other marketing-mix elements on price
See page 487/488!
d. Company pricing policies
See page 488!
e. The impact of price on other parties
See page 488!
Adapting the price
Companies do not set a single price, but a pricing structure that reflects variations in geographical demand, etc. See
page 488 with /.
Price-adaption strategies:
1) geographical pricing
Pricing in different locations and countries.
Countertrade = offer other items in payment than the hard currency.
Forms of countertrade:
• barter = direct change of goods (no money, no third party)
• compensation deal = get partly cash and partly goods
• buyback arrangement = geef machine etc aan een ander and laat ze betalen door de items die ze ermee
maken
• offset = receive full cash, but spend a part of that back in that country or at that seller
2) price discounts and allowances
Companies give discounts and allowances for early payment, volume purchase, off-season buying. Table
page 490! KENNEN
Pas ermee op, doe het niet te vaak, want je maakt jezelf kapot! vb) auto à men wacht vaak net zolang tot er
weer een aanbieding is.
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You don’t have always to react with discounts when someone sells it for a lower price than you. Because the
most people want to pay a premium! à quality.
Net price analysis = normal price – discount, ads, etc.
3) promotional pricing
Companies can use several pricing techniques to stimulate early purchase:
a. Loss-leader pricing (vb verlaag prijs van een A-merk, daardoor mee klanten, en zal totaal verkoop
omhoog gaan in supermarkt bijvoorbeeld)
A-merk fabrikanten willen dit niet, vanwege naams aantasting.
b. Special-event pricing
Draw more customers in certain seasons, by special prices.
(vb back to school acties)
c. Cash rebates
Geld terug, zoals bij aanschaf van een (zuinige) auto.
d. Low-interest financing
Lang termijn betalen, met lage rente (of zelfs 0%)
e. Longer payment terms
Idem, maar dan over een nog langere termijn. Wel met rente. Mensen zijn namelijk niet bang voor
de hoge prijs, maar of ze de maandelijkse bijdrage kunnen betalen.
f. Warranties and service contracts
Free or low-cost warranty or services contracts erbij geven.
g. Psychological discounting
Van…..voor…. Zet van hoger dan het was, of wat het heel lang terug was.
Wacth out because the competition often copies this! And then its not worth anything anymore.
Than it will just be a Zero-sum game.
4) discriminatory pricing
Prices based on differences in customers, products, locations etc.
Price discrimination = men vraagt 2 of meer verschillende prijzen voor een product/service waarin geen
duidelijk verschil is in de kosten.
First-degree discrimination: individual prices depending on his/her demand.
Second-degree discrimination: seller charges less to high volume buyers.
Third-degree: different prices for different groups SEE PAGE 491/492! NOT YET DONE,
TENTAMENVRAAG:
a. Customer segment pricing
b. Product-form pricing
c. Image pricing
d. Channel pricing
e. Location pricing
f. Time pricing (yield pricing)
Conditions for price discriminate to exist:
i.
segments with differences
ii.
lower-price segment cant sell to higher
iii.
Rest see page 492!! Not yet done, staan er nog een aantal!
5) product-mix pricing
a. product line pricing
b. optional-feature pricing
c. captive-prodcut pricing
d. two-part pricing
e. by-product pricing
f. product-bundeling pricing
Initiating and responding to price changes
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HOOFDSTUK 17
Paragraaf NIET leren:
Channel dynamics
What is a value network and marketing-channel system?
Value network = a system of partnerships and alliances that a firm creates to source, augment and deliver its
offerings. Vb) page 504!
3 reasons for this:
1) Integration when needed
2) They see problems in the chain faster à save money
3) Online, faster communication à save money
ERP systems needed for this way of working.
Between producer and customers is mostly a intermediary. These intermediaries constitute a marketing channel
(trade channel/distribution channel).
Merchants = intermediary that buys and then sells.
Agent = search for customers and negotiate with producers for them.
Facilitators = assist in the distribution process (banks, warehouses, transportation etc.)
Marketing channel = sets of interdependent organizations involved in the process of making a product or service
available for use of consumption.
Choosing those, is important for all other decisions. If you sell in a boutique or supermarket makes a lot of
difference.
Producers often use hybrid channels = more channels (mall + direct mail etc.)
Channel integration = that the channels from hybrids work together:
Vb) als je iets op het net besteld dan wil je het in de winkel kunnen ophalen.
What work is performed by marketing channels?
Delegation = give control to a lower party.
Benefits of using intermediaries:
Companies cant pay the direct marketing themselves
Direct marketing is not enough. The product is to small, such as een gum. It has to be sold
along with other products.
Efficiency (specialization, experience etc.)
Figure page 506! Very important! à cost savings.
Marketing channel has the function to move products form producers to consumers. Key functions:
• gather info about potential and current customers, competitors and other actors.
• They develop and disseminate persuas ive (=overtuigend) communications to stimulate purchasing.
• Make agreements on price.
• Place orders with manufacturers.
• Acquire funds to finance inventories at different level sin the marketing channel.
• They assume risks connected with carrying out channel work.
• They provide the successive storage and movement of pusical goods.
• The oversee actual transfer of ownership form one org. to another.
Figure page 507! 1/2/5 forward flow --- 3 backward flow ---- 4 both ways
3 channels have producers of goods/services:
1) sales channel (dell: telefoon)
2) Delivery channel (dell: mail)
3) service channel (dell: local repair)
Figure page 508!
Zero-level channel (direct-marketing channel): manufacturer + consumer
One-level channel: + retailer (intermediary)
Two-level channel: + wholesaler (2 intermediaries)
Three-level channel: + Jobber (3 intermediaries)
Reverse flow channel = movement from user to source (and not from source to user)
Vb) recycling, afval, reuse, herstel
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Also services and information can have channels (zoals ziekenhuis, schools, banks) vb page 509!
Channel-design decisions
Push strategy = involves the manufacture using its sales force and trade promotion money to induce intermediaries to
carry, promote and sell the product to end users (impulsive goods, with low brand loyalty).
Pull strategy = involves the manufacturer using advertising and promotion to induce consumers to ask intermediaries
for the product, thus inducing the intermediaries to order it (high brand loyalty, people decide before going to the
store).
4 steps in channel system design:
1) Analyzing customer needs
The marketer must understand the service output levels desired by target customers. Channels produce 5
service outputs:
a. Lot size (aantal je mag kopen per keer)
b. Waiting time (wachttijd op je good/service)
c. Spatial convenience (gemak van aankopen)
d. Product variety (breedte van assortiment)
e. Service backup (add-on services)
2) Establish channel objectives
Channel objectives should be stated in terms of targeted service output levels.
Every product type expect there own objectives:
Specialty goods à specialized service forms
Bulk à cheap shipment
3) Identifying major channel alternatives
Internet, direct mail, agents, dealers etc. Each with strengths and weaknesses.
A channel alternative is described by the following elements:
a. Types of intermediaries (available)
Example page 512/513.
b. Number of intermediaries (needed)
i. Exclusive distribution (limit number of intermediaries, manufacturer keeps more control
and gets a good band with the seller)
ii. Selective distribution (between a few and all, more control than with all of them à
Disney is an example)
iii. Intensive distribution (as many as possible)
c. Terms and responsibilities of each channel member
Price policy = prijsafspraken en kortingen etc.
Conditions of sale = payment terms and producer guarantees.
Distributors territorial rights = en in hoeverre de producer andere distributeurs benaderd.
4) Evaluate major channel alternatives
Each have to be evaluated against:
a. Economic criteria (Figure page 515! / 516!)
Channel advantage = switch customers t lower cost channels, assuming no loss of sales or
deterioration in service quality.
b. Control criteria
Watch this, because a intermediary is also a company that wants to maximize its profit.
c. Adaptive criteria
Moet snel kunnen aanpassen op sommige markten!
Channel-management decisions
Companies need to select their channel members carefully, because for customers the channels are the companies!
Companies need to train their intermediaries. Examples page 517/518!
Producers can draw on the following types of power to elicit cooperation UITLEG PAGINA 518/519!:
• Coercive power
• Reward power
• Legitimate power
• Expert power
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• Referent power
Distribution programming = building a planned, professionally managed, vertical marketing system that meets the
needs of both manufacturer and distributors.
No marketing channel will remain effective over the whole PLC à modifications needed.
Often in begin: much services (value added).
At maturity: low cost.
FIGURE PAGE 521!:
1) Introductory stage
2) Rapid growth stage
3) Maturity stage
4) Decline stage
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HOOFDSTUK 18
Paragraaf NIET leren:
N.V.T.
Retailing
Retailing = all the activities involved in selling goods/services directly to final consumers for personal, nonbusiness
use.
Retailer (= retail store) = any business enterprise whose sales volumes comes primarily from retailing.
Even a wholesaler, manufacturer can be retailing!!!
Types of retailers à Table page 536 KENNEN!!!
Retail-stores pass trough stages of growth and decline à RETAIL LIFE CYCLE!
Wheel-of-retailing hypothesis explains one reason that new store types emerge. Older stores raises services and price
to cover the costs. And low-price retailers emerge! Retailers can have 4 levels of service:
1) Self-service
2) Self-selection (can ask for assis tance)
3) Limited service (credits etc possible, a little service)
4) Full service (high cost!)
Figure page 537! 4 broad positioning strategies:
1) Bloomingdale’s (breed asortiment, high value added)
2) Tiffany (rest zie figure, KENNEN!)
3) Sunglass hut
4) Wal-mart
97% is store retailing. Nonstore retailing is growing faster.
4 types of nonstore retailing:
1) Direct selling (mult-level selling, network marketing)
Vb) door-to-door, home parties.
2) Direct marketing
Vb) direct mail, catalog, telemarketing, electronic shopping
3) Automatic vending
Vb) automaten
4) Buying service
Vb) Zie boek!
Corporate retailing = groep van retail stores. Voordelen: economies of scale, power, better trained personal etc.
Figure page 538!!! KENNEN
Marketing decisions (DISTRIBUTIEBELEID):
• Target market (This has first to be clear, other wise they cant do any decisions on the other things in
this row!) VB) page 539/540!
• Product assortment and procurement
Breadth, depth! Bullets page 540!
Procurement = new producten op de planken zien te krijgen!
DPP = direct product profitability = measure a products handeling cost (from ontvangst tot verkoop).
Margin op product zegt niet alles, want als je ook een hoge DPP hebt dan dan heb je alsnog niet veel
winst!
• Services and store atmosphere
i.
Prepurchase services (offerte, info verschaf, winkeltijden etc.)
ii.
Postpurchase services (inpakken, vervoer etc.)
iii.
Ancillary services (parking, repairs, wc’s etc.)
Met service en atmosfeer kun je je winkel differentiëren van andere.
Atmosphere = look, feeling, music gemak van winkelen etc.
Vb) page 543 3x
• Price
2 groups:
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•
•
* High-markup + lower volume (specialty stores)
* Low-markup + high volume (discount stores, mass-merchandisers)
Sales pricing is sometimes abandoned in favour of always low prices!
Loss leaders + traffic builders.
Promotion
To generate traffic and purchases. Maak wel promties aan de hand van je imago. Doe het netjes als je
net bent etc.
Place
4 indicators for location:
1) People passing by
2) People of that who enter
3) People of those who buy
4) Average amount spent per sale
Retailers can locate their stores in UITLEG PAGE 544/545!:
i.
General business districts
ii.
Reginal shopping centers
iii.
Community shopping centers
iv.
Strip malls (shopping malls)
v.
In a larger store
Tends in retailing KENNEN UITLEG PAGINA 545/546/547:
1) New retail forms and combinations
2) Growth of intertype competition
3) Growth of giant retailers
4) Grwoing investment in technology
5) Global presence of major retailers
6) Selling an expierence and not just goods
7) Competition between store-based and non-store based retailing
Wholesaling
Wholesaling (=distributor) = all the activities involved in selling goods or services to those who buy for resale or
business use.
(No farmers, manufactures and retailers)
Differences with retailers:
1) Wholesalers spend less attention to promotion, atmosphere and location
2) Transactions are usually bigger than with retailers (mostly a larger area)
3) Other laws, taxes and regulations
Wholesalers are used when they do one or more of the following things more efficient than the manufacturer himself
UILEG PAGE 547!!!:
1) Selling and promoting
2) Buying and assortment building
3) Bulk braking
4) Warehousing
5) Transportation
6) Financing
7) Risk bearing
8) Market information
9) Management services and counseling
Type of wholesalers FIGURE PAGE 548!!! KENNEN!
Door steeds meer direct buying programs, krijgen hun het moeilijk.
Marketing decisions UILEG PAGE 549!!!:
1) Target market
2) Product assortment and services
3) Price decision
4) Promotion decision
5) Place decision
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BLZ 550/551 NOT YET DONE.
Market logistics
SCM = supply chain management = involves procuring the right inputs (raw materials, capital equipment,
components); converting them efficiently into finished products; and dispatching them to the final destinations.
Company is seen as the center of a value network (includes supplier and the supplier suppliers etc. and also in the
direction of the customers)
Demand chain planning = think about the target market and then design the supply chain backward from that point.
Market logistics = involves planning the infrastructure to meet demand, then implementing and controlling the
physical flows of materials and final goods from points of origin to points of use, to meet customer requirements at a
profit.
4 steps of market logistic planning UITLEG PAGE 551!:
1) Deciding on the companies value proposition to its customers.
2) Deciding on the best channel design and network strategy for reaching customers.
3) Developing operational excellence in sales forecasting, warehouse management, transportation
management and materials management.
4) Implementing the solution with the best information systems, equipment, policies and procedures.
Voorbeelden page 551/552 ZEER BELANGRIJK!!!
ILS = integrated logistics systems = materials management, material flow systems and physical distribution, abetted
by information technology (IT).
BLZ 552/553/554 NOG DOEN TENTAMENVRAAG!!! NOT YET DONE!!!
Many people think that the objective off market-logisitcs is:
Getting the right goods to the right place at the right time for the least costs. But that is not possible.
Example: company moves stuff over rail, because its cheaper than air. But for the consumer it will be much slower.
Other examples see bullets page 554!
Given that, the companies have to look what their customers want. Such as on-time delivery, careful handeling etc.
Also they have to look at what the competition offers.
Market-logistics formula:
M = T + FW + VW + S
M = total market-logistics cost of proposed system
T = total freight cost of proposed system
FW = total fixed warehouse cost of proposed system
VW = total variable warehouse cost (including inventory) of proposed system
S = total cost of lost sales due to average delivery delay under proposed system
Chooses the system with the lowest M.
Market-logistic decisions:
1) order processing
Many companies try to shorten the order-to-payment cycle (ellipse between order, delivery and payment).
How longer it takes between order and delivery, the less satisfied the customer is.
Also accuracy is important.
2) warehousing (where)
Number of locations. The more, the faster delivery, the more cost!
Storage warehouses à moderate to long periods
Distribution warehouses à shorter, fast delivery.
3) inventory (how)
Inventory levels represent major costs! Too few à many costs of delay, walking away! etc.
Too many à high storage costs!
Order (reorder) point!
Order-processing costs = setup costs + running costs (during operation)
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With low setup costs à many orders possible
High à fewer orders possible
Inventory-carrying costs = cost of storage.
Best solution EOQ: FIGURE PGAE 557!
JIT = just-in-time production à flows important! And not stock!
Best solution = near-zero inventory!
4) Transportation
Containerization = putting goods in boxes or trailers that are easy to transfer between 2 or more
transportation modes (ship, air, truck etc.)
Piggyback is cheaper than trucks alone are some advantages.
Piggyback
Fishyback
trainship
airtruck
Rail - trucks
Water - trucks
Water - rail
Air - truck
Ships:
-
private carrier (prive persoon)
common carrier (vaste routes)
contract carrier (bedrijf)
3 major lessons from market-logisitcs:
1) SEE BOOK PAGE 558/559!
In market-logistics don’t think alone about coast, but at the whole business strategy!
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HOOFDSTUK 19
Paragraaf NIET leren:
N.V.T.
The communication process
Table page 564!!! Through new technologies, communicating becomes cheaper and that’s why many companies
moved from mass-communication to on-to-one dialogue.
Communication goes much beyond that in the table. Even the color, store decor etc. communicate something.
Every brand contact can streghten or weaken someone’s view of a company.
Figure page 565! à noise = random and competing messages!
The target audience may not receive the intended message for any of the following reasons:
4) selective attention
screening out of stimuli (you see very much ads a day, so you do not attend to all,
that’s impossible).
So you have to do your best to get their attention:
You are also influenced by all in a sudden stimuli. So marketers can try that to.
5) selective distortion
tendency to twist information into personal meanings and interpret info in a way that
will fit our preconditions. Marketers cant do much about this.
6) selective retention
people forget much they learn but will tend to retain info that supports our attitudes
and beliefs. Because of this we are likely to remember good things mentioned about a
product we like and we forget good points mentioned about competing products.
Marketers use drama and repeating of messages because of this. Negative messages
can also stay in the long-term memory.
Bullets page 566!!! Was tentamenvraag!!!
Developing effective communications
Figure page 566 à 8 steps in developing effective communications:
1) Identify the target audience
A major part of audience analysis is assessing the current image of the company, its products and its
competitors.
Image = set of beliefs, ideas and impressions a person holds regarding an object.
Attitudes and actions are mainly influenced by this image.
The first step is to measure the target audience knowledge of the object, using the familiarity scale: figure
page 566! Persons who know the product can be asked the favourability scale: figure page 566!
At both scales, they can/must work on if many people choose the first 2 options. Of these 2 scales they can
make the diagram on page 567! Vb) c is slecht voor de mensen die het kennen, maar gelukkig kennen niet
veel mensen het….
Semantic differential = research of the specific contents of its image. Steps of this research UITLEG PAGE
567! + FIGURE PAGE 567!:
a. Developing a set of relevant dimensions
b. Reducing the set of relevant dimensions
c. Administrating the instrument to a sample of respondents
d. Averaging the results
e. Checking on the image variance
Een onderneming kan nu reageren om zijn imago aan te passen. Let op want imago is “sticky”, dus het duurt
lang voordat het is aangepast in het hoofd van customers.
2) Determine objectives
A marketer can seek for 3 responses of customers:
a. Cognitive (change something in the minds) à learn
b. Affective (change attitude) à feel
c. Behavioural (let them act) à do
Figure page 568! à response hierarchy models.
Learn -feel-do à high involvement products + veel differentiatie (auto)
Do-feel-learn à high involvement products + weinig differentiatie (aluminium)
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Learn -do-feel à low involvement + weinig differentiate (zout)
Hierarchy-of-effects model (second column figure page 568!)
Lees page 569 erover à KENNEN TENTAMEN!
3) Design message
Ideal the message should gain attention, hold interest, arouse desire and elicit action (aida-model figure
page 568). Almost no message does this!
Formulating a message involves:
a. Message content (what to say)
A company must search for an appeal, theme idea or USP (= unique selling proposition).
3 types of appeals:
I. Rational appeals
Engage self-interest: they claim that a product has certain benefits.
II. Emotional appeals
Attempt or stir up negative or positive emotions that will motivate purchase.
ESP = emotional selling proposition
Negative such as brush your teeth, go annual to a doctor etc. or stop smoking etc.
Fear appeal: Werkt alleen als het product een oplossing ervoor bidet and niet teveel fear
aanjaagt.
Positive: love, humor etc. Watch out with humor: can overshadow the product.
III. Moral appeals
Directed to what is right and proper.
b. Message structure (how to say it logically)
Huidig onderzoek laat zien date en vraag onbeantwoord het best werkt in een ad, en dat men zelf
zijn eigen conclusie maar moet trekken.
Vb) conclusie: deze auto is voor jonge mensen, dan blok je dus alle andere mensen al weg en die
krijgen een negative image van je.
Also 2-sided arguments work beter (positive + negative arguments) than only one-sided (only
positive).
Also the order of arguments is important. One-sided is strongest argument first (krant).
Two-sided juist climax opbouwen., mits men aandachtig is!
c. Message format (to say it symbolic)
Everything has to be planned, even lichaamstaal. Vb) page 572!
d. Message source (who should say)
Attractive and popular persons achieve higher attention and recall!
3 factors for credibility of the source:
• Expertise
• Trustworthiness
• Likability (=attractiveness)
Stukje page 573 met /. TENTAMENVRAAG!!! ZEKER DOEN!!!
Congruity
Principle of congruity
4) Select channels
Vb) medicijnen fabrikant sponsort doktersconferentie, want deze mensen hebben weinig tijd.
a. Personal communicating channels
2 or more persons communicating directly to EACH OTHER. (mail, telephone, face-to-face, faceto-audience etc)
Most useful in situations of expensive and risky investments or in situations that people things buy
that says something about their status or taste.
Effectiveness through individualized presentation and feedback.
I. Advocate channels (company salespeople contracting buyers in the target market)
II. Expert channels (independent experts making statements to target buyers)
III. Social channels (neighbours, friends etc.)
Word of mouth = mond op mond reclame = BUZZ
Zorg ervoor dat opinion leaders en andere belangrijke mensen als eerste gepromoot worden, dan de
dealers en dan pas de customers.
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5)
6)
8)
9)
Companies can take several steps to stimulate personal influence channels to work on thier behalf:
see bullets page 574/575 TENTAMENVRAAG!!!
b. Non-personal communicating channels
The rest:
• Media
o Print (paper)
o Broadcast (tv)
o Network (telephone, cable, wireless)
o Electronic (cd-rom, video, web page)
o Display (posters, signs)
• Atmosphere (vb netjes in een 5* hotel)
• Events (sponsorships, organization etc.)
Mass-communication zorgt er vaak voor dat mensen de volgende stap zetten naar de personalcommunication.
Cliques = small groups who interact frequently, and their members are the same.
Liaison = person who connects 2 or more cliques without belonging together.
Bridge = person who belongs to one clique and is linked to a person in another clique.
Establish budget (total marketing communications budget)
4 methods of deciding the promotional budget:
a. Affordable method
What they think they can afford. Simple, but difficult long-range planning.
b. Percentage-of-sales method
It sees sales as a determiner of promotion and not as a result.
Benefits see book!
c. Competitive-parity method
Voordeel: mogelijk behoud van marktaandeel, je maakt gebruik van collectieve wijsheid and it is a
prevention of promotional wars.
Nadeel: Beide argumenten zijn niet bewezen.
d. Objective-and-task method
Voordeel: precies en lost problemen vorige methods op.
Vb) bullets page 578! TENTAMENVRAAG!!
Decide on media mix
See next paragraph.
Measure results
See next paragraph.
Manage integrated marketing communications
See last paragraph.
Deciding on the marketing communications mix
Vb) page 579!
Promotional tools:
• Advertising
Benefits UITLEG TENTAMEN PAGE 580!:
o Public presentation
o Pervasiveness
o Amplified expressiveness
o Impersonality
Used for build up a long-term image (coca cola) or to trigger quick sales (last-minutes). Customers often
believe that a heavily advertised brand must offer good value!
• Sales promotion (coupons, contests, premiums etc)
Benefits UITLEG TENTAMEN PAGE 580!:
o Communication
o Incentive
o Invitation
Boost sales, short-run effects.
• Public relations and publicity
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•
•
Benefits UITLEG TENTAMEN PAGE 580!:
o High credibility
o Ability to catch buyers off guard
o Dramatization
Effective, but nowadays underused!
Personal selling
Benefits UITLEG TENTAMEN PAGE 580!:
o Personal confrontation
o Cultivation
o Response
Direct marketing (direct mail, telemarketing etc.)
Benefits UITLEG TENTAMEN PAGE 580/581!:
o Nonpublic
o Customized
o Up-to-date
o Interactive (can be changed depending on the persons response)
As market leader is ads more useful than sales promotion. Smaller companies need more sales promotions!
Factors in developing their promotional mix:
type of product market
Consumer marketers spend more on sales promotions and ads.
Business marketers spend more on personal selling.
Both low on PR.
The more expensive the product, and the more riskier etc. the more useful personal selling is.
Bullets page 581! VERY !!!! à 3 rijtjes staan er!! KENNEN!
+ 1 rijtje op pagina 582!!!
Buyer readiness stage
Figure page 582!
PLC stage
Intoduction: ads + public ity
Growth: demand door word-to-mouth
Maturity: sales promotion, ads, personal selling
Decline: sales promotion
Example page 582 onderaan!
Managers want to know the outcomes and revenues of communication investments, but mostly they get the outputs
and expenses.
Figure page 583!
Managing the integrated marketing communications process
IMC = integrated marketing communications = a concept of marketing communications planning that recognizes the
added value a comprehensive plan that evaluates the strategic roles of a variety of communications disciplines and
combines these disciplines to provide clarity, consistency and maximum impact through the seamless integration of
discrete messages. Examples page 583/584!
PAGE 584 NOG DOEN à waarschijnlijk tentamenvraag!
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HOOFDSTUK 20
Paragraaf NIET leren:
N.V.T.
Developing and managing an advertising program
Advertising is any paid form of nonpersonal presentation and promotion of ideas, goods or services by an identified
sponsor (inlcuding postbus 51 etc.)
Big companies have often their own marketing department. Many companies work with outside agencies.
Advertising companies need to see themselves as communication companies.
5 major decisions in developing an advertising program à know as the 5 M’s FIGURE PAGE 591!:
1) Mission: setting the advertising objectives
The objectives must flow from earlier decisions on target market, market positioning and marketing mix.
DAGMAR = defining advertising goals for measured advertising results.
Advertising goal (objective) = a specific communication task and achievement level to be accomplished
with a specific audience in a specific perod of time.
Example page 590 onderaan.
Informative advertising (create awarenness and knowledge)
Persuasive advertising (create liking, preference, conviction or purchase)
Reminder advertising (create repeative purchase)
Reinforcement advertising (convince current purchases that they did it right)
New: create superiority, because your new product is better than that of the market leader.
2) Money: deciding on the advertising budget
Many firms under/overspend.
Reason overspend: some sort of insurrance against underspending.
Reason underspend: underestimate competition or underestimate the power of a good image.
Ads aren’t a current expense, its more an investment, it builds up the intagible asset of brand-equity.
But they write of all expenses when the campaign is started. That lowers the profit and that one reason why
they cant come with many products in one year.
5 factors in considering the advertsing budget UITLEG PAGE 592:
• Stage in PLC
• Market chare and consumer base
• Competition and clutter
• Advertsing frequency
• Product substitutablility
3) Message: choosing the advertising message
Examples page 592/593! The facts are NOT enough!
4 steps:
• Message generation
Everyone thinks different about it. Some like 1 benefit called, other like all benefits
called etc.
The more independent made ads you make/have, the more chance that you have one
excellent version!
• Message evaluation and selection
A good message has only one core selling proposition.
The message should be rated on desirability, exclusiveness and believebility. Example
page 594!
The advertiser must do market research to determine which appeal works best with
target audience. Than the must write a creative brief and than the positioning
statement.
• Message execution
VS: rational positioning à it gets cleaner
Japan: emotional positioning à show pictures og nature etc.
Labeling = the consumer is labelled as the type of person who is interested in that
type of product. Example: is this car for you? Instead of A new car.
Best is first call the benefit and than the feature and not andersom.
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Read all examples page 594/595.
Also use a good tone for your ad. Table page 595 onderaan! Je hebt een thema + een
creative uiting daarvan.
Printed ads: picture is most important, than headline and then the copy (text).
• Social responsibility review
The creativeness must not overstep social and legal norms!
Commercials may not be misleidend etc.
4) Media: what media should be used?
See next paragraph.
5) Measurement: how should the results be evaluated?
See next paragraph.
Deciding on media and measuring effectiveness
Steps:
1) deciding on desired reach, frequency and impact
Mediaselection = finding the most cost-effective media to deliver the desired number and type of exposure
to the target audience.
Figure page 599! 2x KENNEN!!!!!!!!!!
The effect of exposure on audience awareness depends on:
• reach R = number of different households or persons exposed
• frequency F = number of times within the specified time period that an average person
or household is exposed to the message.
• impact I = The qualitative value of an exposure through a given medium
E (exposure) = R x F
WE (weighted number of exposures) = R x F x I
2) choosing among major media types
TABLE PAGE 601 KENNEN!!!
Choose media by considering the following variables UITLEG PAGE 601!:
• Target-audience media habits
• Product characterisitcs
• Message characteristics
• Cost
TV ads dominance are decreasing due to zapping, commercial cluttering (much at the same time, reclame
blokken etc.).
Arrival of new media:
Advertorials = print ads that offer editorial content and are difficult to distinguish from newspaper or
magazin contents.
Infomercials = TV commercials that appear to be 30-minute TV shows but are advertisements for products.
All these new medias are the death for mass-media advertising.
Advertisers get more info about consumers and consumers have more control over which ads to receive and
which not.
3) selecting specific media vehicles
They must search for the most cost-effective vehicles within each chosen media type.
They must remind that superbowl commercial will cost 1 miljoen and a normal one less. But also less
people watch and other types of people.
Audience size can be measured in several ways:
circulation (number of physical units carrying the advertising)
audience (number of people exposed to the vehicle)
effective audience (number of people with target audience characteristics exposed to the
vehicle)
effective ad-exposed audience (number of people with target audience characteristics who
actually saw the ad)
4) deciding on media timing
Macroscheduling = scheduling the ads in relation to seasons and business cycles.
Carryover = the rate at which the effect of the advertising expenditure wears out with the passage of time.
Vb) Carryover: 0.75 p/month à the current effect of past expenditure is 75% of previous month.
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Habitutial behaviour = indicates how much brand holdover occurs independent of the level of advertising.
Vb) 0.9 à that in the next period 90% will buy the product (if there wont come any ads anymore).
Microscheduling = allocating advertising expenditures within short period of time to obtain maximum
impact.
FIGURE PAGE 605! KENNEN!
Most effective pattern depends on communication objectives. 3 factors in choosing timing:
buyer turnover = rate at which new buyers enter the market
purchase frequency = number of times during the period that the average buyer buys the
product
forgetting rule = rate at which the buyer forgets the brand
The higher these 3, the more continious it should be.
In launching a new product, the advertiser has to choose among:
continuity (evenly spread)
concentration (single period)
flighting (single period – even niks – single period)
pulsing (continious and now and than peaks)
5) deciding on geographical media allocation
National buy = ads on national tv/papers etc.
Spot buy = ads on regional tv/papers etc.
These area’s are called (only at SPOT BUY):
ADI (areas of dominant influence)
Or DMA (designated marketing areas)
Local buy = ads on local tv/papers etc.
6) evaluating advertising effectiveness
Communication-effect research = seeks to determine whether an ad is communicating effectively.
It is also called copy-testing (=can be done before an ad is put into media and after it is printed/broadcast).
3 methods of advertis ing pretesting:
• Consumer feedback à ask consumer their reactions to a proposed ad.
• Portfolio tests à ask consumers to viw/listen to a portfolio of ads. And ask afterwards what they
remember.
• Laboratory tests à use equipment to measure phychological reactions (eye-movement, heartbeat
etc.)
Figure page 607!
Companies also perform posttesting.
Sales-effect research = measure the sales that are generated by the ads.
Hard to measure (at direct marketing is it easier than at an tv commercial).
Measurement can be done thru FIGURE PAGE 608 + text with /.!
Sales promotion
Sales promotion = a diverse collection of incentive tools, mostly short term, designed to stimulate quicker or greater
purchase of particular products or services by consumers or the trade.
Ads give a reason to buy.
Sales promotion gives a incentive to buy.
Sales promotion includes UITLEG PAGE 609!:
1) consumer promotion
2) trade promotion
3) business and sales-force promotion
Also nonprofit companies use this!
Due to cluttering of ads/promotions, they have to find a way to rise above that!
Sales promotions can have different goals. Free sample is for stimulating consumer trial. And free services is for
stimulating log-term usage.
Ads build brand loyalty, so do NOT only use sales promotion!
Difference between them:
• Sales promotion gives more measurable responses.
• Sales promotion attracks switching people, and NO long-term customers
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Decisions in sales promotion:
1) establish objectives
2) select consumer-promoting tools
Table page 612!!!
a. manufacturer promotion
b. retailer promotion
3) select trade-promotion tools (manufacturers)
Table page 613!!!
Forward-buying is, buy more in deal periods than they can sell in that same period!
4) Select business and sales-force promotion tools
Table page 614!!!
5) Develop the program
Decide on:
a. Size
b. Conditions (for participation)
c. Duration
d. Distribution vehicle (by mail, in stores etc.)
e. Timing
f. Budget
6) Pretest, implement, control and evaluate
Lead time = hoe lang het duurt voor plan uitgevoerd (kan) worden.
Public relations (PR)
Not only customers, suppliers and dealers must be directed to, but also to publics. Public = any group that has an
actual or potential interest in or impact on a companies ability to achieve its objectives.
Public relations (PR) = involves a variety of programs designed to promote or protect a companies image or its
individual products.
5 functions of PR:
Press relations
Product publicity (sponsoring efforts to publicize specific products)
Corporate communication (promoting understanding of the organization through internal/external
communications)
Lobbying (dealing with legislators and governemtn officials to promote or defeat legislation and regulation)
Counselling (advising management about public issues and company positions and image during good times and
crisis)
BLZ 616/617 NOG DOEN!
MPR = marketing public relations = ?
Decisions in marketing PR FIGURE PAGE 618!!!:
1) Establish marketing objectives
a. Awareness
b. Credibility
c. Lower promotional costs
2) Choose message and vehicles
Events etc.
3) Implement the plan and evaluating results
Example page 620!
Direct marketing
Direct marketing = the use of consumer-direct (CD) channels to reach and deliver goods and services to customers
without using marketing middle-men.
Vb) direct-mail,, catalogs, telemarketing, kiosks, web sites etc.
It is also called direct-order marketing, because it mostly seeks a measurable response (vb an order).
It is also used to obtain long-term customers (CRM = customer relationship marketing).
Vb) airlines à frequently flyer programs.
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Market demassification.
Benefits: good timing, easy, customized etc.
Page 621/622 with /. DOEN TENTAMVRAAG!!!
Major channels for direct marketing:
1) face-to-face selling
2) direct mail (post, e-mail, fax, voice mail)
a. carpet bombing (mass mailing)
b. database marketing
c. interactive marketing
d. real-time personalized marketing (customized)
e. lifetime value marketing (plan for lifetime marketing)
LEES PAGE 624/625/626 DOOR, TENTAMENVRAAG!!!
3) catalog marketing
4) telemarketing + m-commerce
a. inbound telemarketing (receive calls from customers)
b. outbound telemarketing (bel zelf naar customer etc.)
4 types of telemarketing:
• telesales (taking orders from catalogs or ads + outbound calling)
• telecoverage (calling customers to maintain and nuture key account relationships)
• teleprospecting (generating + qualifying new leads for closure by another sales channel)
• customer service and technical support
5) other media for direct-response marketing
Newspapers/radi/tv.
TV is used by direct marketers in three ways UITLEG PAGE 628/629!:
• direct-response advertising
• at-home shopping channels
• videotext and interactive
6) kiosk marketing (including rijdende wagens zoals de ijscoman)
7) e-marketing
Interaction + individualization!
Permission marketing = laat de klant bepalen welke reclame hem bereikt! 5 permission levels:
• no permission
• low permission
• medium permission
• high permission
• transaction level à je bent al klant van hun.
Guidelines for e-marketing:
• give the customer a reason to respond
• personalize the content of your e-mails
• offer something the customer could not get via direct mail
vb) time sensitive information.
• make it easy for customers to “unsubscribe”
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