SOLUTION: MM 15E Friends University Marketing Management Essay

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Reflection Paper Each week you procure adaptation a 250-350 acenumerate insensible declaration on the eight weeks’ education, and how it has unsupposable your deliberation rule, harvest, and authoritative energy. This declaration should be an opening for you to advert on your identical education process—challenges, moments of solution, condition knowledges, balbutiations, and interactions. The advertion procure be installed on the balbutiations the quotation books. Your advertion procure be installed on the assigned balbutiations of the weeks. Reflections must coalesce the forthcoming criteria: - 250-350 acenumerate enumerate - Describe your “take-away” from the assigned balbutiation. This may describe to identical insights gained, parallels to late government knowledges, or parallels to observations of late government you possess skilled in other organizations. (8 Weekly Reflection Papers @ 20 points each) Chapter 9 Identifying Market Segments and Targets Copyright © 2016 Pearson Education, Inc. 9-1 Learning Objectives 1. In what ways can a association keep-adistribute the consumer negotiate into limbs? 2. How should transaction negotiates be limbed? 3. How should a association cull the most attractive target negotiates? 4. What are the requirements for movablesive segmentation? 5. What are the opposed levels of negotiate segmentation? Copyright © 2016 Pearson Education, Inc. 9-2 Bases for Segmenting Consumer Markets • Negotiate limb – A collection of customers who distribute a congruous set of needs and wants Geographic segmentation Demographic segmentation Psychographic segmentation Behavioral segmentation Copyright © 2016 Pearson Education, Inc. 9-3 Geographic Segmentation • Geographical units – Nations, states, regions, enumerateies, cities, or neighborhoods • Nielsen Claritas’ PRIZM – Education and affluence – Family condition cycle – Urbanization – Race and ethnicity – Mobility Copyright © 2016 Pearson Education, Inc. 9-4 Geographic Segmentation Copyright © 2016 Pearson Education, Inc. 9-5 Demographic Segmentation Age & conditioncycle stage Race & culture Life stage Gender Generation Income Copyright © 2016 Pearson Education, Inc. 9-6 Demographic Segmentation • Age and condition-cycle stage – Our wants and abilities alter delay age • Condition stage – A person’s important anxiety (e.g., alienate) Copyright © 2016 Pearson Education, Inc. 9-7 Demographic Segmentation • Gender – Men and women possess opposed aspects and bepossess opposedly • Income – Income limbation is a long-standing practice Copyright © 2016 Pearson Education, Inc. 9-8 Demographic Segmentation • Generation Millennials (Gen Y) Gen X Baby Boomers Silent Generation Copyright © 2016 Pearson Education, Inc. 9-9 Demographic Segmentation • Race and culture Hispanic Americans Asian Americans African Americans LGBT Copyright © 2016 Pearson Education, Inc. 9-10 Psychographic Segmentation • Buyers are keep-apartd into collections on the reason of psychological/personality traits, conditionstyle, or values Copyright © 2016 Pearson Education, Inc. 9-11 Figure 9.1: VALS Segmentation System Copyright © 2016 Pearson Education, Inc. 9-12 BEHAVIORAL SEGMENTATION • Marketers keep-adistribute buyers into collections on the reason of their information of, aspect inside, use of, or acceptance to a fruit Copyright © 2016 Pearson Education, Inc. 9-13 BEHAVIORAL SEGMENTATION • Needs and benefits • Resolution roles – Initiator – Influencer – Decider – Buyer – User Copyright © 2016 Pearson Education, Inc. 9-14 USER AND USAGE-RELATED VARIABLES Occasions User status Usage rate Attitude Loyalty status Buyerreadiness stage Copyright © 2016 Pearson Education, Inc. 9-15 Figure 9.2 Marketing Funnel Copyright © 2016 Pearson Education, Inc. 9-16 Figure 9.3 Behavioral Segmentation Breakdown Copyright © 2016 Pearson Education, Inc. 9-17 How Should Transaction Markets Be Segmented? ✓ Demographic ✓ Operating variables ✓ Purchasing approaches ✓ Purchasing approaches ✓ Situational factors ✓ Identical characteristics Copyright © 2016 Pearson Education, Inc. 9-18 Market targeting Copyright © 2016 Pearson Education, Inc. 9-19 Effective Segmentation Criteria ✓ Measurable ✓ Substantial ✓ Accessible ✓ Differentiable ✓ Actionable Copyright © 2016 Pearson Education, Inc. 9-20 Porter’s five forces Threat of Rivalry Threat of New Entrants Threat of Substitutes Threat of Buyer Bargaining Power Threat of Supplier Bargaining Power Copyright © 2016 Pearson Education, Inc. 9-21 Evaluating & Selecting the Market Segments • Figure 9.4: Possible Levels of Segmentation Copyright © 2016 Pearson Education, Inc. 9-22 One-to-one negotiateing Identify your visions and customers Differentiate customers in stipulations of their needs and rate to your association Interact to correct your information environing customers’ needs and to prove relationships Customize fruits, services, and messages to each customer Copyright © 2016 Pearson Education, Inc. 9-23 Legal and Ethical Issues • Marketers must avoid consumer backlash – Labeling consumers – Vulnerable collections – Disadvantaged collections – Potentially mischiefful products Copyright © 2016 Pearson Education, Inc. 9-24 Copyright © 2016 Pearson Education, Inc. 9-25 Chapter 10 Crafting the Brand Positioning Copyright © 2016 Pearson Education, Inc. 10-1 Learning Objectives 1. How can a immovable disclose and prove an movablesive positioning in the negotiate? 2. How do negotiateers identify and irritate race? 3. How are infamys successfully opposediated? 4. How do immovables disclose their positioning? 5. What are some resource approaches to positioning? 6. What are the differences in positioning and infamying for a diminutive transaction? Copyright © 2016 Pearson Education, Inc. 10-2 Developing a Infamy Positioning • Positioning – The act of sly a company’s subsidy and image to hold a distinctive settle in the minds of the target market – Rate proposition Copyright © 2016 Pearson Education, Inc. 10-3 Value proposition Copyright © 2016 Pearson Education, Inc. 10-4 Competitive Frame of Reference • Competitive constitute of reference – Defines which other infamys a infamy competes delay and which should thus be the standpoint of competitive analysis – Identifying and analyzing competitors Copyright © 2016 Pearson Education, Inc. 10-5 Competitive Frame of Reference Copyright © 2016 Pearson Education, Inc. 10-6 Points-of-Difference and Points-of-Parity • Points-of-difference (PODs) – Attributes/benefits that consumers strongly associate delay a infamy, positively evaluate, and deem they could not ascertain to the same extent delay a competitive infamy Copyright © 2016 Pearson Education, Inc. 10-7 Points-of-Difference and Points-of-Parity • POD criteria Desirable Deliverable Differentiating Copyright © 2016 Pearson Education, Inc. 10-8 Points-of-Difference and Points-of-Parity • Points-of-parity (POPs) – Attribute/benefit associations that are not necessarily sole to the infamy but may in fact be distributed delay other infamys Copyright © 2016 Pearson Education, Inc. 10-9 Points-of-Difference and Points-of-Parity • POP forms Category Correlational Competitive Copyright © 2016 Pearson Education, Inc. 10-10 Pop vs. pod • Multiple Frames of Reference • Straddle Positioning Copyright © 2016 Pearson Education, Inc. 10-11 Points-of-Difference and Points-of-Parity • Choosing specific POPs and PODs – Competitive advantage – Means of differentiation – Perceptual map – Emotional branding Copyright © 2016 Pearson Education, Inc. 10-12 Points-of-Difference and Points-of-Parity • Infamy mantras Communicate Simplify Inspire Copyright © 2016 Pearson Education, Inc. 10-13 Establishing a Infamy Positioning • Communicating condition membership Announcing condition benefits Comparing to exemplars Relying on fruit descriptor Copyright © 2016 Pearson Education, Inc. 10-14 Brand-positioning bull’s-eye Copyright © 2016 Pearson Education, Inc. 10-15 Communicating POPs and PODs • Negatively correlated attributes/benefits ✓ Low charge vs. haughty quality ✓ Taste vs. low calories ✓ Powerful vs. safe ✓ Ubiquitous vs. exclusive ✓ Varied vs. simple Copyright © 2016 Pearson Education, Inc. 10-16 MONITORING COMPETITION • Variables in assessing implicit competitors – Distribute of negotiate – Distribute of mind – Distribute of heart Copyright © 2016 Pearson Education, Inc. 10-17 ALTERNATIVE APPROACHES TO POSITIONING • Infamy narratives and storytelling – Setting – Cast – Narrative arc – Language • Cultural infamying Copyright © 2016 Pearson Education, Inc. 10-18 Positioning/Branding for A Diminutive Business • Ascertain compelling fruit performance advantage • Standpoint on proveing one or two strong infamys installed on one or two key associations • Encourage fruit experiment in any way possible • Disclose gelatinous digital strategy to bring-environing the infamy “bigger and better” • Create buzz and a constant infamy community • Employ a well-integrated set of infamy parts • Leverage as divers secondary associations as possible • Creatively induce low-cost marketing research Copyright © 2016 Pearson Education, Inc. 10-19 Copyright © 2016 Pearson Education, Inc. 10-20 Chapter 11 Creating Brand Equity Copyright © 2016 Pearson Education, Inc. 11-1 Learning Objectives 1. What is a infamy, and how does infamying composition? 2. What is infamy equity? 3. How is infamy equity built? 4. How is infamy equity measured? 5. How is infamy equity managed? 6. What is infamy architecture? 7. What is customer equity? Copyright © 2016 Pearson Education, Inc. 11-2 How Does Branding Work? • American Marketing Association – A infamy is “a indicate, vocable, premonition, record, or design, or a synthesis of them, planned to identify the movables or services of one seller or collection of sellers and to opposediate them from those of competitors” Copyright © 2016 Pearson Education, Inc. 11-3 The role of infamys • Brands’ role for consumers ✓ Set and view expectations ✓ Reduce risk ✓ Simplify resolution making ✓ Take on identical meaning ✓ Become distribute of personality Copyright © 2016 Pearson Education, Inc. 11-4 The role of infamys • Brands’ role for immovables ✓ Simplify fruit handling ✓ Organize schedule & accounting ✓ Offer allowable protection ✓ Create infamy constantty ✓ Secure competitive advantage Copyright © 2016 Pearson Education, Inc. 11-5 The Scope of Branding • Branding – The rule of endowing fruits and services delay the capability of a brand Copyright © 2016 Pearson Education, Inc. 11-6 Defining Infamy Equity • Infamy equity – Added rate possessed to fruits delay consumers Copyright © 2016 Pearson Education, Inc. 11-7 Defining Infamy Equity • Customer-installed infamy equity – The opposedial movables infamy information has on consumer acceptance to the negotiateing of that infamy ✓ Differences in consumer acceptance ✓ Infamy information ✓ Perceptions, preferences, and behavior Copyright © 2016 Pearson Education, Inc. 11-8 Defining Infamy Equity • Infamy promise – The negotiateer’s desire of what the infamy must be and do for consumers Copyright © 2016 Pearson Education, Inc. 11-9 Brand Equity Models BrandAsset® Valuator Brandz Brand Resonance Model Copyright © 2016 Pearson Education, Inc. 11-10 Brand Equity Models • BrandAsset® Valuator – Energized differentiation – Relevance – Esteem – Knowledge Copyright © 2016 Pearson Education, Inc. 11-11 Figure 11.2 The Universe of Infamy Performance Copyright © 2016 Pearson Education, Inc. 11-12 Brand Equity Models • Brandz – Meaningful, opposed, & jutting associations – Power, bounty, & implicit outcomes Copyright © 2016 Pearson Education, Inc. 11-13 Brand Equity Models • Infamy Resonance Pyramid Copyright © 2016 Pearson Education, Inc. 11-14 Building Infamy Equity • Infamy equity drivers Brand part or personality excellents Product & connected negotiateing Other associations Copyright © 2016 Pearson Education, Inc. 11-15 Building Infamy Equity • Infamy part excellent criteria Memorable Meaningful Likable Protectable Adaptable Transferable Copyright © 2016 Pearson Education, Inc. 11-16 Designing Holistic Marketing Activities • Infamy contact – Any information-bearing knowledge (positive or denying) a customer or vision has delay the infamy, its fruit condition, or its negotiate Copyright © 2016 Pearson Education, Inc. 11-17 Leveraging Secondary Associations Copyright © 2016 Pearson Education, Inc. 11-18 INTERNAL BRANDING • Activities and rulees that help inform/inspire employees environing infamys Choose the right moment Link inner & external marketing Bring the infamy brisk for employees Keep it simple Copyright © 2016 Pearson Education, Inc. 11-19 Measuring Infamy Equity • Infamy rate chain Copyright © 2016 Pearson Education, Inc. 11-20 Measuring Infamy Equity • Infamy audit • Brand-tracking studies • Infamy valuation Copyright © 2016 Pearson Education, Inc. 11-21 Measuring Infamy Equity Copyright © 2016 Pearson Education, Inc. 11-22 Figure 11.7 Interinfamy Infamy Valuation Method Copyright © 2016 Pearson Education, Inc. 11-23 Managing Infamy Equity • Infamy reinforcement – Requires the infamy always be moving forward • Infamy revitalization – Almost any kind starts delay the product Copyright © 2016 Pearson Education, Inc. 11-24 Devising a Branding Strategy Can disclose new infamy parts for new fruit Can exercise some of existing infamy elements Can use a synthesis of new & existing infamy parts Copyright © 2016 Pearson Education, Inc. 11-25 Devising a Branding Strategy • • • • • Brand extension Sub-brand Parent infamy Master/family infamy Line extension • • • • • Category extension Brand line Brand mix Branded variants Licensed fruit Copyright © 2016 Pearson Education, Inc. 11-26 Branding Decisions • Resource infamying strategies Individual or separate family infamy indicates Corporate umbrella or association infamy indicate Sub-infamy indicate Copyright © 2016 Pearson Education, Inc. 11-27 Branding Decisions • House of infamys • A infamyed house – Flagship fruit Copyright © 2016 Pearson Education, Inc. 11-28 Brand Portfolios • The set of all infamys and infamy lines a particular immovable offers for sale in a distributeicular condition or negotiate limb Flankers Cash cows Low-end note level High-end prestige Copyright © 2016 Pearson Education, Inc. 11-29 Brand Extensions • Introducing a assemblage of new fruits inferior a firm’s strongest infamy indicates ✓ Improved odds of new-fruit success ✓ Positive feedback movabless ✓ Risk of infamy dilution ✓ May mischief inventor infamy ✓ Immovable forgoes creating new infamy Copyright © 2016 Pearson Education, Inc. 11-30 Brand Extensions Copyright © 2016 Pearson Education, Inc. 11-31 CUSTOMER EQUITY • The sum of conditiontime rates of all customers • Is unsupposable by customer acquisition, murmur, and cross-selling Copyright © 2016 Pearson Education, Inc. 11-32 Copyright © 2016 Pearson Education, Inc. 11-33 ...
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