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INTRODUCTION TO MARKETING

MANAGEMENT (MKTG-201)

Recitation Section 065


Tuesday 4:00 – 5:50 pm

Recitation Instructor: Farhana Nusrat


Office: G-Hall 832 Email: fn68@drexel.edu
Objectives of Recitation

 Supplement the lessons acquired from the main lecture

 Apply those lessons using a case study from HBSP

 Learn how to compose a professional marketing plan


Agenda
(please read the syllabus carefully)
• Week 1 to Week 2 - Marketing concepts
• Week 3 – Case Overview, Quiz
• Week 4 to Week 7 – Marketing Plan step by step
(Weekly report due on 11:59 pm on Wednesday)
• Week 8 – Submit Final Report (based on my feedback)
• Week 10 – Group Presentations (Each group around
12 minutes)
Groups

• Each group will consist 5 members


• 8 groups
• Self-enrollment via Blackboard
How to buy the case
Each student is required to purchase the case. Students
have access to the coursepack here:

https://hbsp.harvard.edu/import/599061

After clicking on the link, students need to register.

When the registration is complete, students will have


access to the case.

By using the URL provided above, students will get a 50%


discount on the purchase and will need to pay $4.25
Documents on BB Learn

 Syllabus

 Weekly class slides

 Enroll your group

 Submit your weekly reports and final report from week 4-8 on
BBlearn
Grading

Recitation Grading
40% (40 pts) of your final grade on MKTG-201

Attendance 25% (10 pts)

Quiz 15% (6 pts)

Peer Evaluation 10% (4 pts)

TA Evaluation 10% (4 pts)

Weekly Assignment 20% (8 pts)

Presentation 20% (8 pts)

Total 100% (40 pts)


QUESTIONS?
What is Marketing?

Definition from American Marketing Association:

Marketing is the activity, set of institutions, and processes for


creating, communicating, delivering, and exchanging offerings
that have value for customers, clients, partners, and society at
large.
What Questions Do We Ask?

Where Are We Now?


Who are our customers? What do they value?
Who are our competitors? What are their strategies?
What are our goals and capabilities?

Where Do We Want To Be?


What value should we provide?
To whom?
Can we do it better than our competitors?

How Should We Get There?


How should value be created for the customer?
From what products? Through which channels?
With what communication? At what prices?
Corresponding Actions

Situation Analysis
(SWOT-Internal and External Analysis: context,
competitors, customers, collaborators, and company)

Marketing Strategy
(STP- Segmentation, Targeting, and Positioning.
Determine the value proposition)

Marketing Mix
(4Ps- Product, Place, Price, Promotion.
Determine how to deliver value)
The Marketing Mix – 4 P’s

Product Place

Target
market

Price Promotion
The Marketing Mix – 4 P’s

1. Product
 Is it creating any value?
 Is it meeting customer needs?
 Is it satisfying needs better than
competitors?
 Can be both a product or service
The Marketing Mix – 4 P’s

2. Price
 Cost of production
 Consistency with brand image
 Market price (supply and demand)
The Marketing Mix – 4 P’s

3. Place (Distribution)

• Different ways (channels) to reach the


customers
• Channel network makes it convenient for the
customers to have access to the products
• e.g. wholesalers, retailers, online channels,
firm’s stores, deliveries, downloads
The Marketing Mix – 4 P’s

4. Promotional Mix (Communication)

A.Advertising
• Increase product awareness
• Influence consumer perception (brand
image)
Promotional mix
B. Sales Promotion
Make the consumer take action (purchase)
• Coupons (vs lowering the price?)
• Helps you determine the price sensitive
customers
• Trial sizes
• Helps consumers to observe the quality at
low cost
• Value – added (eg. buy one, get one free)
• Effect on brand image and perceived
quality
Promotional mix
C. Personal Selling
• One-on-one sales facilitation
• Sometimes it’s not the product but the relationship
that generates utility for consumers
• Usually with products or services that are
• Expensive – Lexus, BMW, Ferrari
• Complex – HI FI stereos, computer systems
• Ongoing – Business, life insurances
Promotional mix

D. Public Relations (PR)


•Press releases, use media to get the news
across
•Firms participates in charities and other
public events to create a responsible and
caring impression
4P’s

PRODUCT PRICE PLACE PROMOTION

Advertising Sales Promotion Personal Selling Public Relations


Overview: Segmentation, Targeting &
Positioning

Why do this?
Market Segmentation - Principles

• Segmentation Variables
– Geographic
– Demographic
– Psychographic
– Behavioral
– Other (anything!)

• No single best way to segment a market


• Often best to combine variables and identify
smaller, better-defined target groups
Requirements for Effective
Segmentation

Segments must be:

– Measurable
– Accessible
– Substantial
– Differentiable
– Actionable
Targeting Segments - Overview
Positioning

The place a product occupies in consumers’ minds


relative to competing products.

What do your consumers think when they think of your


brand?
Positioning Example

eBay’s positioning: No
matter what “it” is, you
can find “it” on eBay!

A Finder: Identifies as a
facilitator not a seller
unlike Amazon. They
even use auction to
facilitate.
Positioning Strategy

• Competitive advantages
• Points of Parity
• Points of Difference => Differentiation

Positioning results from differentiation and


competitive advantages.

Positioning may change over time.


Thank you!