Recap Marketing Model

1
Recap Marketing Model
Marketing objectives

• Diagram
• Marketing is about thinking making decisions and
  taking action
• The marketing model is a process to help with
  this.

Review
Gather Data
Test options
Form Hypothesis
2
Marketing Model stages

• Co objectives marketing objectives
• Gather data (Market research)
• Form Hypothesis on the 4Ps and or 3 Cs
• Test Options more market research
• Review success
• REPEAT PROCESS..

3
Homework return Levi Case Study

• Q 5 need to use the marketing model and state
  HOW WELL Levi used each stage.
• Q6 need to decide whether Market Research is an
  insurance or not!
• 1st what does an insurance policy do?2nd how
  well does MR follow this?

4
The Marketing Mix

• What is this?

5
The Marketing Mix

• This has 4 key areas
• Product
• Price
• Place
• Promotion.

6
What is a Product?

• There are 4 general categories of products
• Good
• Service
• Place
• Person

Can you think of an example for each category?
7
Tangible Intangible!
What is the difference between TANGIBLE
INTANGIBLE?
8
Tangible Intangible Products

• Tangible
• Is more quantitative
• Can be measured specifically see the actual
  results
• E.g. Car speed, safety standards, efficiency (mpg)

• Intangible
• Is more qualitative
• Cannot be scientifically measured.
• Focuses on how people feel or the image or
  pleasure gained

9
Today next lesson focuses on PRODUCT
More info in textbook unit 5.

• Product Life Cycle.
• Read through handout
• Copy typical Product Life Cycle Diagram

10
Typical products at different life stages.

• R D
• Introduction
• Growth
• Maturity
• Saturation
• Decline

For each product decide what life stage it
belongs to!
11
R D - Tesla

• Tesla sponsored by Founder of Paypal an
  electric sports car capable of 250 miles on 1
  charge, 3 hour recharge, 0-60 in 4 sec top
  speed 130mph only 50,000

12
Roll up TV Screen

• A pioneering Teesside research facility aiming to
  make a paper-thin roll-up TV screen become a
  reality, has received backing from a major
  international player.
• The then make-believe subject of flexible roll-up
  computer and TV screens featured in the Tom
  Cruise film Minority Report in 2002. But thanks
  to Teesside expertise that fiction could soon
  become a reality.

13
Apple Mac future plans
world's first computerized "smart shoe." But
consumers will decide whether the bionic running
shoe's 250 price tag - four times the average
shoe purchase price at stores such as Foot Locker
- is a smart idea. Adidas claims its new shoe
delivers on its promise to automatically and
continually adjust itself to a runner's size,
pace, terrain and even fatigue level.
14
Identify the implications of each life cycle
stage.
15
Identify the implications of each life cycle
stage.
ANSWERS
16
Back to handout. Apply Life cycle

• Draw the Product life cycles for the products on
  your handout..

You will be called out to draw your
interpretation. Note the gradient of the cycle
is IMPORTANT.
Be prepared to explain your interpretation!
17
Extension Strategies

• These are ways to re-invigorate sales of a
  product after sales have hit maturity!
• New uses for product
• Enter new markets
• Develop product range
• Change packaging
• Encourage more frequent usage!

Can you think of any recent products that have
used any of these extension strategies?
18
Homework

• Textbook p 35 Case study B3 Girl Power answer
  all Qs
• Hint
• Q 1 plot years on bottom axis sales on vertical
  axis
• Q 2 what means explain use at least 4 factors
  .the Q is worth 10 marks!