Discussion: Jazzercise – The Rebrand

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timer Asked: Feb 4th, 2019
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Question Description

Jazzercise has long been associated with 1980s aerobics. In early 2015, the company launched a rebranding campaign. Review Chapter 2 in the text and the resources for Jazzercise, then address the importance of the following:

  • Corporate mission and rebranding alignment with it
  • Defining features of the product/service
  • Current competitors
  • How the company is differentiating itself from competition
  • What is your substantiated opinion of the potential rebrand effectiveness?
  • discuss consumer trends that may impact this business or the industry and brand’s new image.(extra paragraphs for this point)

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Ma r rke ke ting Management M a na gement A S t r ate gic De cis io n- Ma k i n g Ap p ro a c h This page intentionally left blank Ma rke ting t ing Management M a na gement A S t r a t eg ic Dec isio n- Ma k i n g Ap p ro a c h E ight h Editio n J o h n W . Mu l l i ns Asso ciate Pro fe ss o r o f M ana ge m e nt P r a c t i c e i n M a rk e t i ng and E n trepr en eu rs h ip L ondo n B us ine ss S ch o o l Orv i l l e C . Wal k er , J r . J ame s D. W atk ins Pro fe ss or o f M a rk e t i ng , E m e ri t us U niv ersity o f M inn es o ta MARKETING MANAGEMENT: A STRATEGIC DECISION-MAKING APPROACH, EIGHTH EDITION Published by McGraw-Hill, a business unit of The McGraw-Hill Companies, Inc., 1221 Avenue of the Americas, New York, NY 10020. Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved. Printed in the United States of America. Previous editions © 2010, 2008, and 2005. No part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written consent of The McGraw-Hill Companies, Inc., including, but not limited to, in any network or other electronic storage or transmission, or broadcast for distance learning. Some ancillaries, including electronic and print components, may not be available to customers outside the United States. This book is printed on acid-free paper containing 10% postconsumer waste. 1 2 3 4 5 6 7 8 9 0 DOW/DOW 1 0 9 8 7 6 5 4 3 2 ISBN: 978–0–07–802879–3 MHID: 0–07–802879–5 Vice President & Editor-in-Chief: Brent Gordon Vice President of Specialized Publishing: Janice M. Roerig Blong Editorial Director: Paul Ducham Marketing Manager: Donielle Xu Managing Development Editor: Laura Hurst Spell Project Manager: Jolynn Kilburg Design Coordinator: Brenda A. Rolwes Cover Image: Getty Images Buyer: Kara Kudronowicz Media Project Manager: Balaji Sundararaman Compositor: S4Carlisle Publishing Services Typeface: 10/12 Times Roman Printer: R.R. Donnelley All credits appearing on page or at the end of the book are considered to be an extension of the copyright page. Library of Congress Cataloging-in-Publication Data Mullins, John W. (John Walker) Marketing management : a strategic decision-making approach / John W. Mullins, Orville C. Walker, Jr. — 8th ed. p. cm. Includes index. ISBN 978–0–07–802879–3 — ISBN 0–07–802879–5 1. Marketing—Management. I. Walker, Orville C. II. Title. HF5415.13.M352324 658.8—dc23 2013 2011049516 www.mhhe.com ABOUT THE AUTHORS John W. Mullins John W. Mullins is Associate Professor of Management Practice in Marketing and Entrepreneurship at London Business School. He earned his MBA at the Stanford Graduate School of Business and, considerably later in life, his PhD in marketing from the University of Minnesota. An award-winning teacher, John brings to his teaching and research 20 years of executive experience in high-growth firms, including two ventures he founded, one of which he took public. Since becoming a business school professor in 1992, John has published more than 40 articles in a variety of outlets, including Harvard Business Review, MIT Sloan Management Review, and The Wall Street Journal, as well as in numerous scholarly journals in marketing and in entrepreneurship. His research has won national and international awards from the Marketing Science Institute, the American Marketing Association, and the Richard D. Irwin Foundation. He is also coauthor of Marketing Strategy: A DecisionFocused Approach, 7th edition. John’s consulting, executive education, and prolific case-writing regularly take him to destinations in Africa, India, and Latin America. His best-selling trade book, The New Business Road Test: What Entrepreneurs and Executives Should Do Before Writing a Business Plan, is the definitive work on the assessment and shaping of market opportunities. John’s newest trade book, Getting to Plan B: Breaking Through to a Better Business Model with noted venture capital investor Randy Komisar, has won widespread critical acclaim. It is reshaping the approach entrepreneurs and other innovators are taking to starting their ventures. Orville C. Walker, Jr. Orville C. Walker, Jr. is Professor Emeritus in the University of Minnesota’s Carlson School of Management, where he served until recently as the James D. Watkins Professor of Marketing and Director of the PhD Program. He holds a master’s degree in social psychology from Ohio State University and a PhD in marketing from the University of Wisconsin–Madison. Orville is the coauthor of three books and has published more than 50 research articles in scholarly and business journals. He has won several awards for his research, including the O’Dell award from the Journal of Marketing Research, the Maynard award from the Journal of Marketing, and a lifetime achievement award from the Sales Management Interest Group of the American Marketing Association. Orville has been a consultant to a number of business firms and not-for-profit organizations, and he has taught in executive development programs around the world, including programs in Poland, Switzerland, Scotland, and Hong Kong. Perhaps his biggest business challenge, however, has been his attempt to turn a profit as the owner-manager of a small vineyard in western Wisconsin. v Brief Contents Preface xvi Section One 10 Product Decisions 11 Pricing Decisions 250 280 The Role of Marketing in Developing Successful Business Strategies 1 12 Distribution Channel Decisions 308 13 Integrated Promotion Decisions 342 1 The Marketing Management Process 2 Section Four 2 The Marketing Implications of Corporate and Business Strategies 30 Strategic Marketing Programs for Selected Situations 373 14 Marketing Strategies for a Digitally Networked World 374 15 Understanding Market Opportunities 68 Strategies for New and Growing Markets 400 16 4 Understanding Consumer Buying Behavior 96 Strategies for Mature and Declining Markets 436 Section Five 5 Understanding Organizational Markets and Buying Behavior 122 Implementing and Controlling Marketing Programs 465 6 Measuring Market Opportunities: Forecasting and Market Knowledge 146 17 Organizing and Planning for Effective Implementation 466 18 7 Targeting Attractive Market Segments 178 Measuring and Delivering Marketing Performance 492 8 Differentiation and Brand Positioning 202 Section Two Market Opportunity Analysis 3 67 Section Three Developing Strategic Marketing Programs 225 9 vi Business Strategies: A Foundation for Marketing Program Decisions 226 Index 519 Contents Preface xvi Who Does What? Marketing Institutions 21 Who Pays the Cost of Marketing Activities— And Are They Worth It? 22 Room for Improvement in Marketing Efficiency 23 The Role of the Marketing Decision Maker 23 Section One The Role of Marketing in Developing Successful Business Strategies 1 1 The Marketing Management Process 2 Some Recent Developments Affecting Marketing Management 24 Samsung—Building a Global Brand 2 New Competitive and Marketing Strategies The Results 3 Marketing Challenges Addressed in Chapter 1 Why Are Marketing Decisions Important? 21 Globalization 24 Increased Importance of Service 25 Information Technology 25 Relationships across Functions and Firms 2 3 4 The Importance of the Top Line 5 Marketing Creates Value by Facilitating Exchange Relationships 5 What Factors Are Necessary for a Successful Exchange Relationship? 5 1. Who Markets and Who Buys? The Parties in an Exchange 6 2. Customer Needs and Wants 7 3. What Gets Exchanged? Products and Services 10 4. How Exchanges Create Value 10 5. Defining a Market 12 What Does Effective Marketing Practice Look Like? 13 Marketing Management—A Definition 13 Integrating Marketing Plans with the Company’s Strategies and Resources 15 Market Opportunity Analysis 16 Formulating Strategic Marketing Programs 17 Formulating Strategic Marketing Programs for Specific Situations 18 Implementation and Control of the Marketing Program 19 The Marketing Plan—A Blueprint for Action 19 Take-aways Endnotes 2 27 27 28 The Marketing Implications of Corporate and Business Strategies 30 IBM Switches Strategies 30 Technology Changes and Competitor Actions Require a Shift in Strategy 30 A New Corporate Strategy 31 New Business and Marketing Strategies 31 The Bottom Line 32 Marketing Challenges Addressed in Chapter 2 32 What Is Marketing’s Role in Formulating and Implementing Strategies? 33 Market-Oriented Management 35 Does Being Market-Oriented Pay? 35 Factors That Mediate Marketing’s Strategic Role 36 Three Levels of Strategy: Similar Components, but Different Issues 39 Strategy: A Definition 39 The Components of Strategy 39 The Hierarchy of Strategies 40 Corporate Strategy 40 vii viii Contents Business-Level Strategy Marketing Strategy 42 42 Your Market Is Attractive: What about Your Industry? 80 The Marketing Implications of Corporate Strategy Decisions 42 Corporate Scope—Defining the Firm’s Mission 42 Corporate Objectives 47 Corporate Sources of Competitive Advantage 49 Corporate Growth Strategies 49 Allocating Corporate Resources 52 Limitations of the Growth-Share Matrix Sources of Synergy 57 Challenges in Macro-Level Market and Industry Analysis 84 Information Sources for Macro-Level Analyses 85 Understanding Markets at the Micro Level 54 Mission, Aspirations, and Risk Propensity It’s Who You Know, Not What You Know Putting the Seven Domains to Work 90 91 Anticipating and Responding to Environmental Change 91 62 Impact and Timing of Event Section Two 67 Take-aways Endnotes The Cellular Telephone Business: Increasing Competition in a Growing Market 68 4 The Mobile Telephony Market 68 Cell Phone Manufacturing 68 Cell Phone Service Providers 69 Network Equipment Down, Too 69 Marketing Challenges Addressed in Chapter 3 Markets and Industries: What’s the Difference? Assessing Market and Industry Attractiveness 92 Swimming Upstream or Downstream: An Important Strategic Choice 93 Understanding Market Opportunities 68 93 94 Understanding Consumer Buying Behavior 96 Cruise Ships—Not Just for Grandma and Grandpa Anymore 96 70 70 71 Macro Trend Analysis: A Framework for Assessing Market Attractiveness, Macro Level 72 The Demographic Environment 72 The Sociocultural Environment 75 The Economic Environment 76 The Regulatory Environment 77 The Technological Environment 78 The Natural Environment 79 89 Ability to Execute on the Industry’s Critical Success Factors 90 Take-aways 62 3 88 The Team Domains: The Key to the Pursuit of Attractive Opportunities 89 How Should Strategic Business Units Be Designed? 59 The Business Unit’s Objectives 59 The Business Unit’s Competitive Strategy 60 Market Opportunity Analysis 86 Understanding Industries at the Micro Level The Marketing Implications of Business-Unit Strategy Decisions 58 Endnotes Porter’s Five Competitive Forces 80 A Five Forces Analysis of the Cellular Phone Service Industry 83 Savvy Marketing Helped Fuel Industry Growth 96 Future Challenges 97 Marketing Challenges Addressed in Chapter 4 98 The Psychological Importance of the Purchase Affects the Decision-Making Process 99 How Do Consumers Make High-Involvement Purchase Decisions? 99 Low-Involvement Purchase Decisions 107 Understanding the Target Consumer’s Level of Involvement Enables Better Marketing Decisions 107 ix Contents Installations 142 Accessory Equipment 142 Operating Supplies 143 Business Services 143 Why People Buy Different Things: Part 1— The Marketing Implications of Psychological and Personal Influences 111 Perception and Memory 111 Needs and Attitudes 112 Demographics, Personality, and Lifestyle Take-aways 115 Why People Buy Different Things: Part 2—The Marketing Implications of Social Influences 117 Culture 117 Social Class 118 Reference Groups 118 The Family 119 Endnotes 120 Understanding Organizational Markets and Buying Behavior 122 DHL Supply Chain: Building Long-Term Relationships with Organizational Buyers Marketing Challenges Addressed in Chapter 5 123 124 A Comparison of Organizational versus Consumer Markets 124 What Do the Unique Characteristics of Organizational Markets Imply for Marketing Programs? 126 The Organizational Customer Is Usually a Group of Individuals 126 How Organizational Members Make Purchase Decisions 129 Types of Buying Situations 129 The Purchase Decision-Making Process 130 The Marketing Implications of Different Organizational Purchasing Situations 136 Purchasing Processes in Government Markets 138 Selling Different Kinds of Goods and Services to Organizations Requires Different Marketing Programs 139 Raw Materials 139 Component Materials and Parts Measuring Market Opportunities: Forecasting and Market Knowledge 146 141 146 Bell’s Charter at Intel 146 How Do Anthropology and Ethnography Work? 147 What Is Bell Learning about Generation X? 147 Can Bell’s Work Make a Difference? 147 Marketing Challenges Addressed in Chapter 6 Every Forecast Is Wrong! 122 Building Long-Term Relationships with Customers 122 Long-Term Relationships Enhance Long-Term Performance 123 Who Is the Customer? 6 144 Intel’s Secret Weapon Take-aways 120 5 Endnotes 144 148 148 A Forecaster’s Tool Kit: A Tool for Every Forecasting Setting 149 Statistical and Other Quantitative Methods 150 Observation 151 Surveys or Focus Groups 151 Analogy 153 Judgment 153 Market Tests 154 Psychological Biases in Forecasting 154 Mathematics Entailed in Forecasting 154 Rate of Diffusion of Innovations: Another Perspective on Forecasting 156 The Adoption Process and Rate of Adoption 156 Adopter Categories 157 Implications of Diffusion of Innovation Theory for Forecasting Sales of New Products and New Firms 157 Cautions and Caveats in Forecasting 159 Keys to Good Forecasting 159 Common Sources of Error in Forecasting Why Data? Why Marketing Research? 160 160 Customer Relationship Management: Charting a Path toward Competitive Advantage 162 Internal Records Systems 162 Marketing Databases Make CRM Possible 163 x Contents Why CRM Efforts Fail 166 Client Contact Systems 166 Competitive Intelligence Systems Choosing Attractive Market Segments: A Five-Step Process 189 167 Step 1: Select Market-Attractiveness and Competitive-Position Factors 190 Step 2: Weight Each Factor 193 Step 3: Rate Segments on Each Factor, Plot Results on Matrices 193 Step 4: Project Future Position for Each Segment 195 Step 5: Choose Segments to Target, Allocate Resources 195 Marketing Research: A Foundation for Marketing Decision Making 167 Step 1: Identify the Managerial Problem and Establish Research Objectives 168 Step 2: Determine the Data Sources and Types of Data Required 169 Step 3: Design the Research 171 Step 4: Collect the Data 174 Step 5: Analyze the Data 174 Step 6: Report the Results to the Decision Maker 175 Different Targeting Strategies Suit Different Opportunities 196 Niche-Market Strategy 197 Mass-Market Strategy 197 Growth-Market Strategy 198 What Users of Marketing Research Should Ask 175 Rudimentary Competence: Are We There Yet? 175 Global Market Segmentation Take-aways Take-aways 176 Endnotes Endnotes 176 8 7 Targeting Attractive Market Segments 178 The New Middle Class: Who and How Large? 178 Targeting India’s New Middle Class 179 Targeting: One Ingredient in Marketing Success 179 Marketing Challenges Addressed in Chapter 7 200 Differentiation and Brand Positioning 202 202 The Jared Diet 202 Repositioning Fuels Subway’s Growth 202 Value: A Second Dimension to Subway’s Positioning 203 Marketing Challenges Addressed in Chapter 8 203 180 Do Market Segmentation and Target Marketing Make Sense in Today’s Global Economy? 180 Most Markets Are Heterogeneous 181 Today’s Market Realities Often Make Segmentation Imperative 181 How Are Market Segments Best Defined? 199 Fast Food Turns Healthy The Developing World’s Emerging Middle Class 178 198 Differentiation: One Key to Customer Preference and Competitive Advantage 204 Differentiation among Competing Brands Physical Positioning 205 Limitations of Physical Positioning 182 Who They Are: Segmenting Demographically 183 Where They Are: Segmenting Geographically 185 Geodemographic Segmentation 185 How They Behave: Behavioral Segmentation 186 Innovative Segmentation: A Key to Marketing Breakthroughs 189 Perceptual Positioning 205 206 206 Levers Marketers Can Use to Establish Brand Positioning 207 Preparing the Foundation for Marketing Strategies: The Brand Positioning Process 208 Step 1: Identify a Relevant Set of Competitive Products 209 Step 2: Identify Determinant Attributes 210 Step 3: Collect Data about Customers’ Perceptions for Brands in the Competitive Set 212 xi Contents Step 4: Analyze the Current Positions of Brands in the Competitive Set 212 Step 5: Determine Customers’ Most Preferred Combination of Attributes 216 Step 6: Consider Fit of Possible Positions with Customer Needs and Segment Attractiveness 218 Step 7: Write Positioning Statement or Value Proposition to Guide Development of Marketing Strategy 218 Appropriate Conditions for a Prospector Strategy 238 Appropriate Conditions for an Analyzer Strategy 240 Appropriate Conditions for a Defender Strategy 240 How Different Business Strategies Influence Marketing Decisions 242 Product Policies 243 Pricing Policies 245 Distribution Policies 245 Promotion Policies 245 The Outcome of Effective Positioning: Building Brand Equity 221 Managing Brand Equity 222 Take-aways 224 What If the Best Marketing Program for a Product Does Not Fit the Business’s Competitive Strategy? 246 Endnotes 224 Take-aways Some Caveats in Positioning Decision-Making 223 Endnotes 248 248 Section Three Developing Strategic Marketing Programs 225 10 9 Marketing Challenges Addressed in Chapter 10 Business Strategies and Marketing Programs at 3M 226 How Do Businesses Compete? 228 229 Generic Business-Level Competitive Strategies 229 Do the Same Competitive Strategies Work for Single-Business Firms and Start-ups? 232 Do the Same Competitive Strategies Work for Service Businesses? 232 Do the Same Competitive Strategies Work for Global Competitors? 234 Will the Internet Change Everything? 234 How Do Competitive Strategies Differ from One Another? 235 Differences in Scope 235 Differences in Goals and Objectives 237 Differences in Resource Deployments 237 Differences in Sources of Synergy 238 Deciding When a Strategy Is Appropriate: The Fit between Business Strategies and the Environment 238 250 Product Decisions in a Services Business Business Strategies: A Foundation for Marketing Program Decisions 226 Marketing Challenges Addressed in Chapter 9 Product Decisions 250 251 Product Design Decisions for Competitive Advantage 252 Goods and Services: Are the Product Decisions the Same? 253 Product Quality and Features Decisions 253 Branding Decisions 255 Packaging Decisions 258 Services Decisions and Warranties 258 Managing Product Lines for Customer Appeal and Profit Performance 259 Product Systems 260 New Product Development Process Decisions 261 The Importance of New Products to Long-Term Profitability 261 New Product Success and Failure 261 Organizing for New Product Development 262 Key Decisions in the New Product Development Process 263 Limitations of Stage Gate Thinking and Processes 270 Product Decisions over the Product Life Cycle 271 Market and Competitive Implications of Product Life Cycle Stages 272 xii Contents Strategic Implications of the Product Life Cycle 277 Limitations of the Product Life Cycle Framework 278 Designing Distribution Channels: What Kinds of Institutions Might Be Included? 315 Merchant Wholesalers 315 Agent Middlemen 315 Retailers 316 Nonstore Retailing 317 Take-aways 278 Endnotes 278 Channel Design Alternatives ...
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CASIMIR
School: University of Virginia

Here you go. In case of any further inputs, please let me know.All the best!I appreciate working with you!

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Anonymous
Excellent job

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