25 Keys To Sales & Marketing 3

This is the ppt translation of the third part of 25 keys to sales & marketing, an audio portable MBA course, which has been developed by New York Times publishing, with the contribution of some of the best known business academicians and practitioners of the contemporary world. This is only a reproduced graphical version of the same with no commercial motive. It has been developed for better self learning and for assistance to the large community of several business practitioners & students, who are in constant pursuit for quality stuff on-line. - Saurabh To find more stuff on business & marketing, visit – www.saurabhpassion.blogspot.com

Key – 11 How to generate repeat purchases?

Major concern of marketers – ,[object Object],[object Object]

From strategic point of view, how can one encourage repurchase behavior & brand loyalty??? ,[object Object],[object Object]

Dealing with post-purchase dissatisfaction - 1 (Reason of consumer dissatisfaction) ,[object Object],[object Object],[object Object]

How to resolve the Cognitive Dissonance in Consumers? ,[object Object],[object Object]

Dealing with post-purchase dissatisfaction - 2 (An effective use of Incentives) ,[object Object],[object Object],Many companies reward customers in form of points that accumulate after every purchase. These points can be cashed in for free merchandise, once certain levels are reached. Reward customers in form of cash discount / cash back, on repeat frequent purchases.

Key – 12 (Establishing a brand name is a key strategic advantage) ,[object Object],[object Object]

Advantages of a brand name – ,[object Object],[object Object],[object Object],[object Object]

Components that make an effective brand name – ,[object Object],[object Object],[object Object]

Focusing on Company Name Vs. Brand Name ,[object Object],[object Object],[object Object]

Key – 13 ( The inherent advantage of the pioneer brand ) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

2 laws that support the pioneer advantage – ,[object Object],[object Object],[object Object]

How can the pioneer brand advantage be maintained overtime??? ,[object Object],[object Object],[object Object]

Does it mean that the follower brands are in no position to compete at all??? Does it mean that their existence can not be justifiable & hence profitable??? ,[object Object],[object Object]

How can the follower brand compete ??? ,[object Object],[object Object],[object Object]

How can the follower brand compete ??? ,[object Object],[object Object]

Key – 15 Can new products give new life to a company ? ,[object Object],[object Object],[object Object],[object Object]

Product Life Cycle ,[object Object],Product development Introduction Growth Maturity Decline A very short Timeline of the product life cycle

Understanding the Product Life Cycle – ,[object Object],Product development Introduction Growth Maturity In this stage most ideas are created; more than 95% of ideas are killed before they see the light of day; Sales growth is very slow, as market takes time to understand the product & realize its presence; Development costs are too high & profits are very less. Period of market expansion & acceptance. It is at the latter part of this stage that profits begin to turn +ve as sales may increase at breakneck speed.

Understanding the Product Life Cycle – ,[object Object],[object Object],DE CL I NE

Shrinkage of product life cycle – ,[object Object],[object Object],[object Object],[object Object]

Why new products often fail & how to minimize the risk? ,[object Object],[object Object],[object Object],[object Object],[object Object]

How can one cut down the failure rate of new products ? ,[object Object],[object Object],[object Object]

Key – 16 Issues relating to an effective product strategy – ,[object Object],[object Object],[object Object],[object Object]

Issues relating to an effective product strategy – ,[object Object],[object Object]

Brand extensions – What situations contribute to their success??? ,[object Object],[object Object],[object Object],[object Object]

Key – 17 ,[object Object],[object Object]

Why pricing is important? ,[object Object],[object Object],[object Object],[object Object],[object Object]

Pricing Strategies ,[object Object],[object Object],[object Object]

COST ORIENTED STRATEGIES ,[object Object],[object Object]

DEMAND ORENTED STRATEGIES ,[object Object],[object Object],[object Object]

Key – 18 Effective ways to promote your product ,[object Object],[object Object],[object Object]

Elements of Promotion – ,[object Object],[object Object],[object Object],[object Object]

Personal Selling ,[object Object],[object Object],[object Object]

Sales Promotion ,[object Object],[object Object],[object Object],[object Object]

Public Relations ,[object Object],[object Object]

Goals of Promotion ,[object Object],[object Object],[object Object]

Stages, before a sale of a product can occur ,[object Object],Stage - 3 Stage - 2 Stage - 1 COGNITIVE STAGE AFFECTIVE STAGE Develop a liking or preference for the product. This is the final stage that results in action or purchase. BEHAVIORAL STAGE

Promotional Strategy For Each Stage . ,[object Object],Stage - 3 Stage - 2 Stage - 1 COGNITIVE STAGE AFFECTIVE STAGE Liking or preference for a product is best developed through comparative advertising & personal selling. To influence action or purchase is best done through personal selling & some forms of advertising. BEHAVIORAL STAGE The most effective promotional strategy differs for each stage .

3 Critical steps in any promotional evaluation program ,[object Object],STEP - 1 STEP - 2 STEP - 3 Determine how many people are at the moment on what steps. Determine which people on which it is most important to reach. 1 2 3 With the steps outlined below, the marketing manager can plan a promotional strategy tailored exactly to the target market.

25 Keys To Sales & Marketing 3

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