978-0077729028 Chapter 2 Slides

Type

Solution Manual

Book Title

Marketing 5th Edition

ISBN 13

978-0077729028

978-0077729028 Chapter 2 Slides

April 8, 2019

1.1.1.1.1.1.1.1 Powerpoint Slides With Teaching Notes

Power Point Slide Teaching Notes

2-1: Developing Marketing Strategies and a

Marketing Plan

2-2: Learning Objectives These questions are the learning

objectives guiding the chapter and will

be explored in more detail in the

following slides.

2-3: Nike Students will most likely be familiar

with Nike products.

Ask Students to comment on any

commercials they can recall and the

company itself. Students will start to

mention many topics in the chapter

including target markets, marketing mix

and sustainable competitive advantage.

2-4: Sustainable Competitive Advantage This slide covers the four strategies to

create and deliver value and a

sustainable competitive advantage.

Ask students to think of companies

who they are very loyal to in many

categories (food, electronics, and

personal care)? Is it their product,

location, operational, or customer

excellence that draws the student’s

loyalty?

2-5: Customer Excellence Luthansa airlines retains customers by

offering the best possible service at the

best possible price.

Ask students what this might include

for an airline? For economy they offer

meals, free drinks and fun toiletries and

for the first class customer massages,

manicures and stand-up bars in flight.

2-6: Operational Excellence The text highlights how firms can use

the various elements of the marketing

mix to achieve a competitive

advantage.

In recent years, firms such as Wal-Mart

have achieved competitive advantage

by utilizing operational excellence.

That is, by controlling price and how

products are delivered to their stores,

they have been able to offer customers

low prices on a wide array of goods.

This is made possible through the use

of efficient operations and excellent

relationships with suppliers.

2-7: New Balance – Can America Compete? Marketing the “Made in America”

concept. This clip features the New

Balance brand. The clip focuses on the

value found in U.S. made brands and

evaluating the cost vs. time factor.

Note: Please make sure that the video

file is located in the same folder as the

PowerPoint slides.

2-8: Product Excellence Ask students how this is an example of

product excellence.

Students might say it is product

excellence because of the high quality

of the product.

Point out the fact that expensive should

NOT be confused with the fact that the

product has a clear and distinctive

brand image and that it is clearly

positioned.

2-9: Locational Excellence A competitive advantage based on

location is sustainable because it is not

easily duplicated.

2-10: What Competitive Advantage? Ask students which of the four value

choices is Singapore Airlines using?

Singapore Airlines is using customer

excellence to create and deliver value

and to develop sustainable competitive

advantages.

2-11: Check Yourself 1. Identifies a firm’s target market,

related marketing mix — their four Ps

— and the bases upon which the firm

plans to build a sustainable competitive

advantage.

2. Customer excellence, operational

excellence, product excellence,

locational excellence.

2-12: The Marketing Plan Explain to students that the marketing

plan should be a written plan yet many

companies do not write it down.

Ask students why companies tend to

not write down marketing plans. The

most likely answer is that they don’t

take the time or haven’t organized the

strategy.

2-13: Three Phases of a Strategic Plan A poorly executed plan leads to failure,

regardless of how good or solid the plan

may be.

The world is full of good plans poorly

executed. When initially introduced,

diapers designed differently for boys

and girls bombed because the market

was not ready for the product; through

improved execution, the diaper

manufacturer ultimately found success.

However, even well-executed plans

require monitoring and updating,

because the needs of any market

constantly change.

2-14: Step One: Defining the Mission and/or Vision Group activity: Students should

develop a mission statement for their

school.

The resultant mission statement would

offer a good way to assess and set

student expectations.

2-15: MADD Promotion Notice how MADD works to translate

its Mission Statement into action

through its promotion efforts

2-16: Step Two: Conduct a Situation Analysis Using

SWOT

A SWOT analysis is comprehensive, in

that it offers both an internal and an

external assessment. The firm therefore

must possess expertise in both what the

firm can provide and what the market

wants the firm to provide.

Students can take a few minutes and fill

in a SWOT analysis for their in-class

exercise of building a marketing plan

for their college.

2-17: Step Three: Identifying and Evaluating

Opportunities Using STP

After completing the situation audit, the

next step is to identify and evaluate

opportunities for increasing sales and

profits using STP (segmentation,

targeting, and positioning).

With STP, the firm first divides the

marketplace into subgroups or

segments, determines which of those

segments it should pursue or target, and

finally decides how it should position

its products and services to best meet

the needs of those chosen targets.

2-18: Hertz: Segmentation, Targeting, Positioning Hertz offers different vehicles to meet

the transportation needs of diverse

segments. Each class of automobile

offers something to please every

segment.

2-19: What Segments? Ask students what segments is Nike

going after?

2-20: Step Four: Implement Marketing Mix and

Allocate Resources

In all firms, resources are scarce and

must be allocated so that they create the

most value for the firm.

Ask Students to point out the elements

of the marketing mix in this ad? They

will certainly see the value creation in

the product and the promotion which

targets busy women.

2-21: Product and Value Capture Because the key to the success of any

marketing program is the creation of

value, firms attempt to develop

products and services that customers

perceive as valuable enough to buy.

2-22: Price and Value Capture These will be covered in the pricing

chapters later in the book. It is worth

spending some time on Value-based

pricing.

Show students two differently priced

products from the same category and

ask students which one they view as

better value and why?

For example, an Apple iPod vs. a

Microsoft Zune player. Or alternatively

Aquafina vs. Perrier. Also explain that

in this course, more discussion of value

will be done throughout the semester.

2-23: Place and Value Delivery Getting the product to consumers at the

exact moment they desire it is difficult.

Firms therefore are experimenting with

different forms of distribution, such as

vending machines for cell phones, to

offer consumers 24/7 access to

products.

Staples has incorporated web kiosks in

their stores to access Staples.com.

Thus, consumers are able to buy

products that are out of stock in-store.

Ask students if they are familiar with

Sephora, if they like it, and why? Most

likely they will be very fond of this

retailer. They offer an incredible

assortment in a well-organized, well

lighted, exciting retail environment.

2-24: Promotion and Value Communication Consumers enter into an exchange only

if they know that the firm’s product or

service appears in the marketplace. This

is why promotion is so important. They

won’t buy if they don’t know about it.

2-25: Step Five: Evaluate Performance and Make

Adjustments

Firms cannot simply remain content

with a strategy for too long. Over time,

all strategies must be revised to adjust

to new markets, new competitors, and

new technologies.

The firm must recognize not only its

failures, but also its successes to ensure

continued success. The full description

of the Boston Consulting Group Matrix

is found in the Appendix to Chapter

One. In general it is an example of

portfolio analysis.

Visit the P&G website and ask

students to recognize stars, cash cows

and question marks (newer products).

You won’t find any dogs at the P&G

website.

2-26: Which Quadrant? Ask students to identify which

quadrant of the Boston Consulting

Group portfolio analysis do these

products belong to?

The Apple iMac Desktop would be

considered a cash cow, while the iPad

would be considered a Star.

2-27: Check Yourself 1. Business mission and objectives,

situation analysis and SWOT,

identify opportunities, implement

marketing mix, evaluate

performance using marketing

metrics.

2. SWOT analysis (strengths,

weaknesses, opportunities, threats)

3. Segmentation, Targeting,

Positioning

4. Stars, Cash Cows, Question Marks,

Dogs

2-28: Growth Strategies The growth strategies model is crucial

for students to understand.

Fundamentally, all strategies involve

one or a combination of the four factors

pictured in this slide. Each can be used

to achieve different objectives.

2-29: Market Penetration Sales encourage current users to

consume more of the current product

mix, but they also bring new customers

to the business.

Many strategies can be used to get

current consumers to consume more of

your product.

The web link is for a YouTube ad where

Heinz asked customers to make videos

and submit for the uses of Heinz.

This is one of many ads that were

submitted. (Reminder - always check

YouTube links before class).

Group activity: Ask students to

brainstorm ways in which firms can get

current consumers to consume more.

Example solutions might include

coupons, loyalty cards, or serving size

changes.

2-30: Market Development Strategy This might include targeting growing

ethnic groups in the U.S. or global

expansion, which is a popular way for

many firms to improve their

profitability.

Ask international students, if you

have them in your class, what types of

products and brands are entering their

markets?

2-31: Product Development A product development strategy

requires that the firm understands its

current consumers’ needs/wants well

enough to identify other

products/services that would be

attractive to them.

Ask students for examples of products

that are targeted to them by companies

who already have their business. They

will no doubt mention many food

products including drinks, candy and

fast food.

2-32: Game On – Clash of the Video Games This clip focuses on marketing the

“next best thing” in the gaming

industry.

Focuses on battling for the gaming

market share and influencing spending

of discretionary income.

Note: Please make sure that the video

file is located in the same folder as the

PowerPoint slides.

2-33: Diversification A diversification strategy introduces a

new product or service to a market

segment that currently is not served.

Diversification opportunities may be

either related or unrelated. In a related

diversification opportunity, the current

target market and/or marketing mix

shares something in common with the

new opportunity.

In other words, the firm might be able

to purchase from existing vendors, use

the same distribution and/or

management information system, or

advertise in the same newspapers to

target markets that are similar to their

current consumers.

In contrast, in an unrelated

diversification, the new business lacks

any common elements with the present

business.

2-34: Check Yourself 1. Market penetration, market

development, product development,

diversification

2. Product development and market

penetration

3. Diversification

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Marketing 5th Edition