Lecture Designing business plan: Unit 4 - Ngô Quý Nhâm

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Lecture "Designing business plan - Unit 4: Marketing plan" presentation of content: Overall marketing strategy, discussion, three levels of products, marketing Mix (Product, pricing, place, promotion).

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Nội dung Text: Lecture Designing business plan: Unit 4 - Ngô Quý Nhâm

Unit 4: MARKETING PLAN Ngô Quý Nhâm Email: quynham@gmail.com Web: sites.google.com/site/ngoquynham NGO QUY NHAM
Lecture outline F  Overall marketing strategy F  Marketing Mix §  Product §  Pricing §  Place §  Promotion NGO QUY NHAM
Marketing Strategy F  Marketing strategy §  ...firm’s approach to marketing its products and services stated in broad term, which firm the basis of all its marketing-related activities. NGO QUY NHAM
Discussion What are key elements of a marketing strategy? NGO QUY NHAM
Overall Marketing Strategy Marketing strategy components: F  Target consumers F  Positioning §  Gives a product a clear, distinctive and desirable place in the minds of target consumers compared with competing products. F  Positioning involved selecting competitive advantages: §  Differentiation §  Low Cost NGO QUY NHAM
Customer Value Proposition NGO QUY NHAM
Product strategy: Three levels of products •  Physical good, service or most often some of both •  Branding •  Packaging •  Service •  Product-ine NGO QUY NHAM
Product strategy: Three levels of products Core Installation Product Delivery Packaging Actual Product Credit Features Core benefit After- or sale Brand service service name Styling Quality Payment Augmented Warranty product NGO QUY NHAM
Product strategy: Individual Product Decision F  Product attributes (product quality, feature, design) F  Branding F  Packaging decisions F  Product-support services decisions NGO QUY NHAM
Product strategy: Product Line Decision F  Product line-length decisions NGO QUY NHAM
Product strategy: Product Line Decision F  Product line-filling decisions F  Product line modernization decisions NGO QUY NHAM
Pricing strategy •  Pricing objectives •  Pricing Policies –  Price Flexibility –  Levels over PLC –  Discounts and allowances –  Geographic terms •  Legal factors •  Markup chain in channels •  Costs •  Demand (price sensitivity) –  Competition/Substitutes •  Price of other products in line NGO QUY NHAM
Pricing Strategy: Pricing objectives Target Return Profit Oriented Maximize Profits Dollar or Unit Sales Growth Pricing Sales Objectives Oriented Growth in Market Share Meeting Status Quo Competition Oriented Nonprice Competition NGO QUY NHAM
Price Level Policies Price Skimming In price skimming, initial price is set high--at top of the demand Price curve Sell at high price before reducing to Most sensible when: next price level Initial and repeat Price •  Demand is inelastic Second •  There is an “elite market” that is Price less price sensitive Final •  Barriers to entry (patents, etc.) Price •  Gradually working down the demand curve with lower priced marketing mixes over time. Quantity NGO QUY NHAM
Price Level Policies Penetration Pricing Penetration pricing means Price entering the market with a low initial price: Whole market price •  Capture market share quickly •  Take advantage of growth •  If competition is likely to follow quickly, or if •  A low price will give competitors less incentive to enter Quantity NGO QUY NHAM
Value Pricing NGO QUY NHAM
Discounts Reduce the Price Paid Quantity Seasonal Discount Pricing Sale Cash Discounts are usually defined as a percentage off of a list price Trade NGO QUY NHAM
Markups 50.00 Wholesaler 30.00 Producer 24.00 Markup = 20.00 = 40% Markup = 6.00 = 20% Markup = 2.40 = 10% Cost = 30.00 = 60% Cost = 24.00 = 80% Cost = 21.60 = 90% Markup is usually stated as a percent of the selling price, not of the cost NGO QUY NHAM
Types of cost Fixed Costs Variable Costs Rent Raw materials Depreciation Component parts Manager’s salaries Hourly wages Property taxes Packaging & freight Insurance Sales commisions NGO QUY NHAM
Break Even Analysis Higher Total Revenue and Cost Profit Area Total Revenue Curve Total Cost Curve Break-Even Point Loss Area 0 More Units of Production NGO QUY NHAM