Decision Support Systems and Marketing Research CHAPTER 9 Marketing Designed by Eric Brengle B-books, Ltd. 10 Lamb, Hair, McDaniel Copyright ©2009 by Cengage Learning Inc. All rights reserved Prepared by Amit Shah Frostburg State University 1 LOI Marketing Decision Support Systems Decision Support Systems DSS An interactive, flexible computerized information system that enables managers to obtain and manipulate information as they are making decisions. Copyright ©2009 by Cengage Learning Inc. All rights reserved 2 DSS System Characteristics Interactive Flexible Discovery-Oriented Accessible LOI Copyright ©2009 by Cengage Learning Inc. All rights reserved 3 LO2 The Role of Marketing Research Marketing Research The process of planning, collecting, and analyzing data relevant to a marketing decision. Copyright ©2009 by Cengage Learning Inc. All rights reserved 4 LO2 Marketing Research Studies Products Uses Advertising Awareness Prices Familiarity Packages New concepts Names and Logos Traffic patterns Services Wants Buying habits Needs Colors Politics Copyright ©2009 by Cengage Learning Inc. All rights reserved 5 LO2 The Role of Marketing Research Descriptive ◆ Gathering and presenting factual statements Diagnostic ◆ Explaining data Predictive ◆ “What if?” Copyright ©2009 by Cengage Learning Inc. All rights reserved 6 Management Uses of Marketing Research LO2 ▪ Improve the quality of decision making ▪ Trace problems ▪ Focus on keeping existing customers ▪ Understand the marketplace ▪ Alert them to marketplace trends ▪ Gauge the value of goods and services, and the level of customer satisfaction Copyright ©2009 by Cengage Learning Inc. All rights reserved 7 LO3 Marketing Research Marketing Research Problem Determining what information is needed and how that information can be obtained efficiently and effectively. Marketing Research Objective The specific information needed to solve a marketing research problem; the objective should provide insightful decision-making information. Management Decision Problem A broad-based problem that requires marketing research in order for managers to take proper actions. 8 Copyright ©2009 by Cengage Learning Inc. All rights reserved LO3 Secondary Data Secondary Data Data previously collected for any purpose other than the one at hand. Copyright ©2009 by Cengage Learning Inc. All rights reserved 9 Sources of Secondary Data Internal Corporate Information Government Agencies Trade and Industry Associations Business Periodicals News Media LO3 Copyright ©2009 by Cengage Learning Inc. All rights reserved 10 LO3 Advantages of Secondary Data • Saves time and money if on target • Aids in determining direction for primary data collection • Pinpoints the kinds of people to approach • Serves as a basis of comparison for other data Copyright ©2009 by Cengage Learning Inc. All rights reserved 11 LO3 Disadvantages of Secondary Data • May not give adequate detailed information • May not be on target with the research problem • Quality and accuracy of data may pose a problem Copyright ©2009 by Cengage Learning Inc. All rights reserved 12 LO3 Primary Data Primary Data Information collected for the first time. Can be used for solving the particular problem under investigation. Copyright ©2009 by Cengage Learning Inc. All rights reserved 13 LO3 Advantages of Primary Data • Answers a specific research question • Data are current • Source of data is known • Secrecy can be maintained Copyright ©2009 by Cengage Learning Inc. All rights reserved 14 LO3 Disadvantages of Primary Data Disadvantages are usually offset by the advantages of primary data. • Expensive • “Piggybacking” may confuse respondents • Quality declines if interviews are lengthy • Reluctance to participate in lengthy interviews Copyright ©2009 by Cengage Learning Inc. All rights reserved 15 LO3 Survey Research Survey Research The most popular technique for gathering primary data in which a researcher interacts with people to obtain facts, opinions, and attitudes. Copyright ©2009 by Cengage Learning Inc. All rights reserved 16 Forms of Survey Research LO3 In-Home Interviews Mail Surveys Mall Intercept Interviews Executive Interviews Telephone Interviews Focus Groups Copyright ©2009 by Cengage Learning Inc. All rights reserved 17 LO3 Forms of Survey Research Mall Intercept Interview Executive Interview Survey research method that involves interviewing people in the common areas of shopping malls. A type of survey that involves interviewing businesspeople at their offices concerning industrial products or services. Copyright ©2009 by Cengage Learning Inc. All rights reserved 18 LO3 Forms of Survey Research Focus Groups Seven to ten people who participate in a group discussion led by a moderator. Copyright ©2009 by Cengage Learning Inc. All rights reserved 19 LO3 Questionnaire Design Open-Ended Question An interview question that encourages an answer phrased in respondent’s own words. Closed-Ended Question An interview question that asks the respondent to make a selection from a limited list of responses. ScaledResponse Question A closed-ended question designed to measure the intensity of a respondent’s answer. 20 Copyright ©2009 by Cengage Learning Inc. All rights reserved LO3 Questionnaire Design Clear and concise No ambiguous language Only one question Unbiased Reasonable terminology 21 Copyright ©2009 by Cengage Learning Inc. All rights reserved LO3 Observation Research Observation Research A research method that relies on three types of observation: ➢people watching people ➢people watching an activity ➢machines watching people Copyright ©2009 by Cengage Learning Inc. All rights reserved 22 Observational Situations People watching people People watching phenomena Machines watching people Machines watching phenomena Mystery shoppers in a supermarket Observer at an intersection counting traffic Video cameras recording behavior Trafficcounting machine monitoring traffic flow Situation Example LO3 Copyright ©2009 by Cengage Learning Inc. All rights reserved 23 LO3 Ethnographic Research Ethnographic Research The study of human behavior in its natural context; involves observation of behavior and physical setting. Copyright ©2009 by Cengage Learning Inc. All rights reserved 24 LO3 The Sampling Procedure Sample A subset from a large population. Universe The population from which a sample will be drawn. Copyright ©2009 by Cengage Learning Inc. All rights reserved 25 LO3 Sampling Procedure Universe Sample Probability Samples Non-Probability Samples 26 Copyright ©2009 by Cengage Learning Inc. All rights reserved LO3 Types of Samples Probability Samples Non-Probability Samples Simple Random Sample Convenience Sample Stratified Sample Judgment Sample Cluster Sample Quota Sample Systematic Sample Snowball Sample 27 Copyright ©2009 by Cengage Learning Inc. All rights reserved LO3 Probability Samples Probability Sample A sample in which every element in the population has a known statistical likelihood of being selected. Random Sample A sample arranged so that every element of the population has an equal chance of being selected. Copyright ©2009 by Cengage Learning Inc. All rights reserved 28 LO3 Nonprobability Samples Nonprobability Sample Any sample in which little or no attempt is made to get a representative cross-section of the population. Convenience Sample A form of nonprobability sample using respondents who are convenient or readily accessible to the researcher. Copyright ©2009 by Cengage Learning Inc. All rights reserved 29 Types of Errors LO3 Measurement Error Error when there is a difference between the information desired and the information provided by research Sampling Error Error when a sample somehow does not represent the target population. Frame Error Error when a sample drawn from a population differs from the target population. Random Error Error because the selected sample is an imperfect representation of the overall population. Copyright ©2009 by Cengage Learning Inc. All rights reserved 30 Field Service Firms Provide: • Focus group facilities • Mall intercept locations • Test product storage • Kitchen facilities LO3 Copyright ©2009 by Cengage Learning Inc. All rights reserved 31 LO4 Impact of the Internet • Allows better and faster decision making • Improves ability to respond quickly to customer needs and market shifts • Makes follow-up studies and tracking research easier • Slashes labor- and time-intensive research activities and costs Copyright ©2009 by Cengage Learning Inc. All rights reserved 32 LO4 Advantages of Internet Surveys Rapid development, real-time reporting Dramatically reduced costs Personalized questions and data Improved respondent participation Contact with the hard-to-reach Copyright ©2009 by Cengage Learning Inc. All rights reserved 33 LO4 Uses of the Internet by Marketing Researchers Administer surveys Conduct focus groups Other types of marketing research Copyright ©2009 by Cengage Learning Inc. All rights reserved 34 Internet Samples LO4 Screened Internet Sample An Internet sample with quotas based on desired sample characteristics. Recruited Internet Sample A sample in which respondents are prerecruited and must qualify to participate. Recruited Panels Most popular form of Internet sampling. Copyright ©2009 by Cengage Learning Inc. All rights reserved 35 LO4 Types of Online Focus Groups Real-time online focus groups Time-extended online focus groups Copyright ©2009 by Cengage Learning Inc. All rights reserved 36 Advantages of Online Focus Groups • • • • • Speed Cost-effectiveness Broad geographic scope Accessibility Honesty Copyright ©2009 by Cengage Learning Inc. All rights reserved LO4 37 LO4 Role of Consumer Generated Media in Marketing Research • CGM is media which consumers generate themselves and share among themselves • Companies can identify the most influential bloggers and learn exactly what they are saying (and how they are saying it). Copyright ©2009 by Cengage Learning Inc. All rights reserved 38 LO4 Other Uses of the Internet by Marketing Researchers Distribution of requests for proposals (RFPs) and proposals Collaboration between client and research supplier Data management and online analysis Publication and distribution of reports Viewing of presentations of marketing research surveys Copyright ©2009 by Cengage Learning Inc. All rights reserved 39 LO5 Scanner-Based Research A system for gathering Scanner-based Research information from a single group of respondents by continuously monitoring the advertising, promotion, and pricing they are exposed to and the things they buy. BehaviorScan InfoScan Copyright ©2009 by Cengage Learning Inc. All rights reserved 40 LO5 When Should Marketing Research Be Conducted? ▪ Where there is a high level of uncertainty ▪ When value of research information exceeds the cost of generating the information Copyright ©2009 by Cengage Learning Inc. All rights reserved 41 Product Concepts CHAPTER 10 Marketing 10 Lamb, Hair, McDaniel Designed by Eric Brengle B-books, Ltd. Copyright ©2009 by Cengage Learning Inc. All rights reserved Prepared by Amit Shah Frostburg State University 1 LOI What Is a Product? Product Everything, both favorable and unfavorable, that a person receives in an exchange. ▪ Tangible Good ▪ Service ▪ Idea Copyright ©2009 by Cengage Learning Inc. All rights reserved 2 LOI What Is a Product? Product is the starting point of Marketing Mix Product Price Promotion Place (Distribution) Copyright ©2009 by Cengage Learning Inc. All rights reserved 3 LO2 Types of Products Business Product A product used to manufacture other goods or services, to facilitate an organization’s operations, or to resell to other consumers. Consumer Product A product bought to satisfy an individual’s personal needs or wants Copyright ©2009 by Cengage Learning Inc. All rights reserved 4 LO2 Types of Consumer Products Products Consumer Products Convenience Products Shopping Products Copyright ©2009 by Cengage Learning Inc. All rights reserved Business Products Specialty Products Unsought Products 5 LO2 Types of Consumer Products Convenience Product A relatively inexpensive item that merits little shopping effort Shopping Product A product that requires comparison shopping, because it is usually more expensive and found in fewer stores Specialty Product A particular item for which consumers search extensively and are reluctant to accept substitutes Unsought Product A product unknown to the potential buyer or a known product that the buyer does not actively seek Copyright ©2009 by Cengage Learning Inc. All rights reserved 6 LO3 Product Items, Lines, and Mixes Product Item A specific version of a product that can be designated as a distinct offering among an organization’s products. Product Line A group of closely-related product items. Product Mix All products that an organization sells. 7 Copyright ©2009 by Cengage Learning Inc. All rights reserved LO3 Campbell’s Product Lines and Mix Copyright ©2009 by Cengage Learning Inc. All rights reserved 8 LO3 Benefits of Product Lines Advertising Economies Package Uniformity Standardized Components Efficient Sales and Distribution Equivalent Quality Copyright ©2009 by Cengage Learning Inc. All rights reserved 9 LO3 Product Mix Width Product Mix Width The number of product lines an organization offers. ▪ Diversifies risk ▪ Capitalizes on established reputations Copyright ©2009 by Cengage Learning Inc. All rights reserved 10 LO3 Product Line Depth Product Line Depth The number of product items in a product line. ▪Attracts buyers with different preferences ▪Increases sales/profits by further market segmentation ▪Capitalizes on economies of scale ▪Evens out seasonal sales patterns Copyright ©2009 by Cengage Learning Inc. All rights reserved 11 LO3 Adjustments Adjustments to Product Items, Lines, and Mixes Product Modification Product Repositioning Copyright ©2009 by Cengage Learning Inc. All rights reserved Product Line Extension or Contraction 12 LO3 Types of Product Modifications Quality Modification Functional Modification Style Modification Copyright ©2009 by Cengage Learning Inc. All rights reserved 13 LO3 Planned Obsolescence Planned Obsolescence The practice of modifying products so those that have already been sold become obsolete before they actually need replacement. Copyright ©2009 by Cengage Learning Inc. All rights reserved 14 LO3 Repositioning Why reposition established brands? Changing Demographics Declining Sales Copyright ©2009 by Cengage Learning Inc. All rights reserved Changes in Social Environment 15 LO3 Product Line Extension Product Line Extension Adding additional products to an existing product line in order to compete more broadly in the industry. Copyright ©2009 by Cengage Learning Inc. All rights reserved 16 LO3 Product Line Contraction Symptoms of Product Line Overextension ▪ Some products have low sales or cannibalize sales of other items ▪ Resources are disproportionately allocated to slow-moving products ▪ Items have become obsolete because of new product entries Copyright ©2009 by Cengage Learning Inc. All rights reserved 17 LO4 Brand Brand A name, term, symbol, design, or combination thereof that identifies a seller’s products and differentiates them from competitors’ products. Copyright ©2009 by Cengage Learning Inc. All rights reserved 18 LO4 Branding Brand Name That part of a brand that can be spoken, including letters, words, and numbers Brand Mark The elements of a brand that cannot be spoken Brand Equity The value of company and brand names Global Brand A brand where at least one-third of the product is sold outside its home country Copyright ©2009 by Cengage Learning Inc. All rights reserved 19 LO4 Benefits of Branding Product Identification Repeat Sales New Product Sales Copyright ©2009 by Cengage Learning Inc. All rights reserved 20 LO4 Generic Brand Generic Product A no-frills, no-brand-name, low-cost product that is simply identified by its product category. Copyright ©2009 by Cengage Learning Inc. All rights reserved 21 LO4 Manufacturers’ Brands Versus Private Brands Manufacturers’ Brand The brand name of a manufacturer. Private Brand A brand name owned by a wholesaler or a retailer. Also known as a private label or store brand. Copyright ©2009 by Cengage Learning Inc. All rights reserved 22 Advantages of Manufacturers’ Brands ▪ Heavy consumer ads by manufacturers ▪ Attract new customers ▪ Enhance dealer’s prestige ▪ Rapid delivery, carry less inventory ▪ If dealer carries poor quality brand, customer may simply switch brands and remain loyal to dealer LO4 Copyright ©2009 by Cengage Learning Inc. All rights reserved 23 Advantages of Private Brands ▪ Earn higher profits on own brand ▪ Less pressure to mark down price ▪ Manufacturer can become a direct competitor or drop a brand/reseller ▪ Ties customer to wholesaler or retailer ▪ Wholesalers and retailers have no control over the intensity of distribution of manufacturers’ brands LO4 Copyright ©2009 by Cengage Learning Inc. All rights reserved 24 LO4 Cobranding Ingredient Branding Types of Cobranding Cooperative Branding Complementary Branding Copyright ©2009 by Cengage Learning Inc. All rights reserved 25 Trademarks A Trademark is the exclusive right to use a brand. ▪ Many parts of a brand and associated symbols qualify for trademark protection. ▪ Trademark right comes from use rather than registration. ▪ The mark has to be continuously protected. ▪ Rights continue for as long as the mark is used. LO4 ▪ Trademark law applies to the online world. Copyright ©2009 by Cengage Learning Inc. All rights reserved 26 LO5 Functions of Packaging Contain and Protect Promote Facilitate Storage, Use, and Convenience Facilitate Recycling Copyright ©2009 by Cengage Learning Inc. All rights reserved 27 LO5 Labeling Persuasive ▪ ▪ Focuses on promotional theme Consumer information is secondary Informational ▪ Helps make proper selections ▪ Lowers cognitive dissonance ▪ Includes use/care http://www.fda.gov Online 28 Copyright ©2009 by Cengage Learning Inc. All rights reserved LO5 Universal Product Codes Universal Product Codes (UPCs) A series of thick and thin vertical lines (bar codes), readable by computerized optical scanners, that represent numbers used to track products. Copyright ©2009 by Cengage Learning Inc. All rights reserved 29 Developing and Managing Products CHAPTER 11 Marketing Designed by Eric Brengle B-books, Ltd. 10 Lamb, Hair, McDaniel Copyright ©2009 by Cengage Learning Inc. All rights reserved Prepared by Amit Shah Frostburg State University 1 LOI New Product New Product A product new to the world, the market, the producer, the seller, or some combination of these. Copyright ©2009 by Cengage Learning Inc. All rights reserved 2 LOI New Product Advantages Being first on the market has numerous advantages: •Increased sales through longer sales life •Increased margins •Increased product loyalty •More resale opportunities •Greater market responsiveness •A sustained leadership position Copyright ©2009 by Cengage Learning Inc. All rights reserved 3 LOI Categories of New Products New-to-the-World New Product Lines Product Line Additions Improvements or Revisions Repositioned Products Lower-Priced Products Copyright ©2009 by Cengage Learning Inc. All rights reserved 4 LO2 The New-Product Development Process New Product Success Factors Long-term commitment Company-specific approach Capitalize on experience Establish an environment Copyright ©2009 by Cengage Learning Inc. All rights reserved 5 LO2 New-Product Development Process New-Product Strategy Idea Generation Idea Screening Business Analysis Development Test Marketing Commercialization New Product Copyright ©2009 by Cengage Learning Inc. All rights reserved 6 LO2 Idea Generation Customers http://www.ideo.com Online Employees Distributors Competitors Sources of New-Product Ideas Vendors R&D Consultants Copyright ©2009 by Cengage Learning Inc. All rights reserved 7 LO2 Brainstorming Brainstorming The process of getting a group to think of unlimited ways to vary a product or solve a problem. Copyright ©2009 by Cengage Learning Inc. All rights reserved 8 LO2 Idea Screening Screening The first filter in the product development process, which eliminates ideas that are inconsistent with the organization’s new-product strategy or are inappropriate for some other reason. Copyright ©2009 by Cengage Learning Inc. All rights reserved 9 LO2 Concept Test Concept Test A test to evaluate a new-product idea, usually before any prototype has been created. Copyright ©2009 by Cengage Learning Inc. All rights reserved 10 LO2 Business Analysis Demand Considerations in Business Analysis Stage Cost Sales Profitability Copyright ©2009 by Cengage Learning Inc. All rights reserved 11 LO2 Development ▪ Creation of prototype ▪ Marketing strategy ▪ Packaging, branding, labeling ▪ Promotion, price, and distribution strategy ▪ Manufacturing feasibility ▪ Final government approvals if needed Copyright ©2009 by Cengage Learning Inc. All rights reserved 12 LO2 Simultaneous Product Development Simultaneous Product Development A team-oriented approach to new-product development. Copyright ©2009 by Cengage Learning Inc. All rights reserved 13 LO2 Test Marketing Test Marketing The limited introduction of a product and a marketing program to determine the reactions of potential customers in a market situation. Copyright ©2009 by Cengage Learning Inc. All rights reserved 14 LO2 Alternatives to Test Marketing • Single-source research using supermarket scanner data • Simulated (laboratory) market testing • Online test marketing http://www.newproductworks.com Online Copyright ©2009 by Cengage Learning Inc. All rights reserved 15 LO2 Commercialization Production Inventory Buildup Distribution Shipments Sales Training Trade Announcements Customer Advertising Copyright ©2009 by Cengage Learning Inc. All rights reserved 16 LO3 Why New Products Fail • No discernible benefits • Poor match between features and customer desires • Overestimation of market size • Incorrect positioning • Price too high or too low • Inadequate distribution • Poor promotion • Inferior product Copyright ©2009 by Cengage Learning Inc. All rights reserved 17 LO3 Success Factors Factors in Successful New Products Match between product and market needs Different from substitute products Benefit to large number of people Copyright ©2009 by Cengage Learning Inc. All rights reserved 18 LO3 Success Factors Listening to customers Strong leadership Producing the best product Commitment to newproduct development Vision of future market Project-based team approach Getting every aspect right Willingness to fail occasionally Copyright ©2009 by Cengage Learning Inc. All rights reserved 19 LO5 Diffusion Diffusion The process by which the adoption of an innovation spreads. Copyright ©2009 by Cengage Learning Inc. All rights reserved 20 LO5 Product Characteristics and the Rate of Adoption Complexity Compatibility Relative Advantage Observability Trialability http://www.electronicgadgetdepot.com Online Copyright ©2009 by Cengage Learning Inc. All rights reserved 21 LO5 Marketing Implications of the Adoption Process Word of Mouth Communication Aids the Diffusion Process Direct from Marketer Copyright ©2009 by Cengage Learning Inc. All rights reserved 22 LO5 REVIEW LEARNING OUTCOME Diffusion Process for New Products Copyright ©2009 by Cengage Learning Inc. All rights reserved 23 LO6 Product Life Cycle Product Life Cycle A biological metaphor that traces the stages of a product’s acceptance, from its introduction (birth) to its decline (death). Copyright ©2009 by Cengage Learning Inc. All rights reserved 24 LO6 Growth Stage Maturity Stage Dollars Introductory Stage Product Life Cycle Decline Stage Sales Profits 0 Time Copyright ©2009 by Cengage Learning Inc. All rights reserved 25 LO6 Product Life Cycles for Styles, Fashions, and Fads Copyright ©2009 by Cengage Learning Inc. All rights reserved 26 LO6 Introductory Stage • High failure rates • Little competition • Frequent product modification • Limited distribution • High marketing and production costs • Negative profits with slow sales increases • Promotion focuses on awareness and information • Communication challenge is to stimulate primary demand Copyright ©2009 by Cengage Learning Inc. All rights reserved 27 LO6 Growth Stage • Increasing rate of sales • Entrance of competitors • Market consolidation • Initial healthy profits • Aggressive advertising of the differences between brands • Wider distribution Copyright ©2009 by Cengage Learning Inc. All rights reserved 28 LO6 Maturity Stage • Sales increase at a decreasing rate • Saturated markets • Annual models appear • Lengthened product lines • Service and repair assume important roles • Heavy promotions to consumers and dealers • Marginal competitors drop out • Niche marketers emerge Copyright ©2009 by Cengage Learning Inc. All rights reserved 29 LO6 Decline Stage • Long-run drop in sales • Large inventories of unsold items • Elimination of all nonessential marketing expenses • “Organized abandonment” Copyright ©2009 by Cengage Learning Inc. All rights reserved 30 LO6 Diffusion Process and PLC Curve Introduction Growth Decline Maturity Sales Product life cycle curve Early majority Late majority Early adopters Innovators Laggards Diffusion curve Copyright ©2009 by Cengage Learning Inc. All rights reserved 31 Services and Nonprofit Organization Marketing CHAPTER 12 Marketing Designed by Eric Brengle B-books, Ltd. 10 Lamb, Hair, McDaniel Copyright ©2009 by Cengage Learning Inc. All rights reserved Prepared by Amit Shah Frostburg State University 1 LOI Service Service The result of applying human or mechanical efforts to people or objects. Copyright ©2009 by Cengage Learning Inc. All rights reserved 2 LO2 How Services Differ from Goods Intangible Inseparable Heterogeneous Perishable Copyright ©2009 by Cengage Learning Inc. All rights reserved 3 LO3 Components of Service Quality Reliability The ability to perform the service right the first time. Responsiveness The ability to provide prompt service. Assurance The knowledge and courtesy of employees. Empathy Caring, individualized attention to customers. Tangibles The physical evidence of a service. Copyright ©2009 by Cengage Learning Inc. All rights reserved 4 LO4 The Service Offering Core Service The most basic benefit the consumer is buying. Supplementary Service A group of services that support or enhance the core service. Copyright ©2009 by Cengage Learning Inc. All rights reserved 5 LO4 Customization/Standardization Mass Customization A strategy that uses technology to deliver customized services on a mass basis. Copyright ©2009 by Cengage Learning Inc. All rights reserved 6 LO4 The Service Mix • Determine target market • Determine what new services to introduce • Decide what existing services to maintain and to eliminate Copyright ©2009 by Cengage Learning Inc. All rights reserved 7 LO4 Place (Distribution) Strategy Convenience Number of outlets Direct or indirect distribution Location Scheduling Copyright ©2009 by Cengage Learning Inc. All rights reserved 8 LO4 Promotion Strategy Stress tangible cues Use personal information sources Create a strong organizational image Engage in postpurchase communication Copyright ©2009 by Cengage Learning Inc. All rights reserved 9 LO4 Price Strategy Pricing Challenges for Services • Define the unit of service consumption • Determine if multiple elements are “bundled” or priced separately Copyright ©2009 by Cengage Learning Inc. All rights reserved 10 LO6 Internal Marketing Internal Marketing Treating employees as customers and developing systems and benefits that satisfy their needs. Copyright ©2009 by Cengage Learning Inc. All rights reserved 11 LO8 Nonprofit Organization Marketing Nonprofit Organization Marketing An organization that exists to achieve some goal other than the usual business goals of profit, market share, or return on investment. Copyright ©2009 by Cengage Learning Inc. All rights reserved 12 LO8 Nonprofit Organization Marketing • Government • Museums • Theaters • Schools • Churches Copyright ©2009 by Cengage Learning Inc. All rights reserved 13 LO8 Nonprofit Organization Marketing Identify desired customers Specify objectives Develop, manage, eliminate programs and services Decide on prices Schedule events or programs Communicate their availability Copyright ©2009 by Cengage Learning Inc. All rights reserved 14 LO8 Unique Aspects of Nonprofit Organization Marketing Strategies • Setting of marketing objectives – Selection of target markets • Development of marketing mixes Copyright ©2009 by Cengage Learning Inc. All rights reserved 15 LO8 Objectives & Target Markets Provide services that respond to the wants of : ▪ Users ▪ Appointed officials ▪ Payers ▪ Media ▪ Donors ▪ General Public ▪ Politicians Copyright ©2009 by Cengage Learning Inc. All rights reserved 16 • Exam 3: Chapters 9, 10, 11, 12 o Describe the 4 major differences between Services and Products. Why are these differences important? o Describe the power and usefulness of Branding. o The New Product development process is described as a FUNNEL. What are the parts and their importance? o What are the 4 types of Consumer products and how are they different o What are the key methods of Survey data collection? o What is Secondary data and Primary data? o What is the Product Life Cycle and describe it's 4 stages? What 4P strategies work best in each stage? o What is the role of Marketing Research? o Why is Relationship Marketing important in the marketing of Services? 1
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