Introd to-

1. Chapter 3 Objectives The Marketing Environment  Describe the environmental forces that affect the company's ability to serve its customers.  Explain how changes in the demographic and economic environment affect marketing decisions.  Identify the major trends in the firm's natural and technological environments.  Explain the key changes in the political and cultural environment.  Discuss how companies can react to the marketing environment.

2. Microenvironment: internal forces Company Suppliers Marketing Intermediaries Customers Publics Competitors Company

3. The Company Top management Finance R & D Purchasing Manufacturing Accounting Marketing

5. Macroenvironment: external forces Demographic Economic Natura l Technological Political Cultural Company

6. Demographics Family Population Shift Education Increasing Diversity

7. Demographics: Changing Age Structure in Canada Median age up from 25 to 38 in 30 years Long-term slowing of birth rate (1.55) Increasing life expectancy “Baby dearth” of the 70’s Population bulge due to baby boom Growth rates vary for different age groups

8. Canada’s Boomer Bulge

9. Demographics BOOMERS  40 plus age now 45% bigger than 18-30 group  …will be 60% bigger by 2010  1989 40+ became biggest adult segment in history  Control 50%+ of discretionary spending  Control 75% of nation’s wealth  About to inherit largest intergenerational wealth transfer in history

10. Demographic Environment: Increasing Diversity  Ethnicity: Ethnic purchasing power $300 billion Growing market size Avoid stereotyping Use native languages Choose ethnic media  Sexual orientations  Disabilities

11. Macroenvironment: external forces Demographic Economic Natura l Technological Political Cultural Company

12. Economics Changes in Income More Work = Less Leisure people are time starved Changing Consumer Spending Patterns

13. Consumer Confidence Consumer confidence fell to its lowest level since October 1983. Conference Board, Feb. 2003

14. Consumer Confidence Consumer confidence tanked in February and has been rebounding since. Decima Research, 2003

15. Natural Environment Shortages of Raw Materials Increased Pollution Increased Government Intervention e.g. Environmental Protection Act

16. Technological Environment Fast pace of technological change High R&D Budgets

17. Political Environment Legislation regulating business increased legislation increased emphasis on ethics and socially responsible actions

18. Cultural Environment Persistence of cultural values Shifts in cultural values Subcultures

20. Chapter 18 Objectives Marketing and Society Identify the major social criticisms of marketing. Define consumerism and environmentalism and explain how they affect marketing strategies.  Describe the principles of socially responsible marketing. Explain the role of ethics in marketing.

21. Social Criticisms of Marketing Marketing’s Impact on Consumers High Prices * Deceptive Practices * High-Pressure Selling Shoddy Products * Planned Obsolescence * Poor Service

22. Social Criticisms of Marketing Marketing’s Impact on Society False Wants/Too Much Materialism * Too Few Social Goods Cultural Pollution * Too Much Political Power

23. Consumerism  The right to safety  Right to be informed  The right to choose  The right to be heard  The right to redress against damage  The right to consumer education Consumer’s Association of Canada Fundamental Rights

24. Chapter 4 Objectives Marketing Research and Information Systems  Explain the importance of information to the company.  Define the marketing information system and discuss its parts.  Outline the four steps in the marketing research process.  Compare the advantages and disadvantages of various methods of collecting information.  Discuss the special issues some marketing researchers face.

25. Measuring & Forecasting Demand 1. As marketing manager for Cat's Pride cat litter, you have seen sales jump 50 percent in the last year after years of relatively stable sales. Explain how you will forecast sales for the coming year. 2. What are some leading indicators that might help you predict sales of diapers, cars, and hamburgers. Can you describe a general procedure for finding leading indicators or product sales?

26. The Importance of Information Research Needs Marketing Environment Customer Needs and Wants Strategic Decision Making Competitors

27. Should you do Research? NO if: being done before financial analysis complete a way to avoid making a decision results are not going to change your plans cheaper to try idea than conduct research YES if: data will be useful in a very specific way you can get the information you need to make decisions you can’t afford to make an uniformed decision you must convince others of something you already know

28. Market Research Process Define problem and research objectives Develop plan to collect data Implement collect and analyze data Interpret and report findings 4-2

29. Step 1: defining the problem & research objectives Exploratory research preliminary information helps better define problem Descriptive research expand understanding of factors Causal research test cause and effect hypothesis

30. Step 2: developing the plan for collecting information Determine Specific Information Needs, e.g.  Target customer characteristics  Patterns of product use (which day- part?)  Demand factors  Response of marketing channels  Customer reactions  Projected sales

31. Step 2: developing the plan for collecting information Gathering Secondary Data  internal sources  government sources  books and periodicals  commercial data services  international data  on-line databases and the internet  syndicated research studies

32. Step 2: developing the plan for collecting information Gathering Primary Data Research Approaches Observational Survey: phone, mail, in-person Experimental

33. Primary Data Collection Contact Methods: strengths & weaknesses Mail Questionnaire Telephone Interview Personal Interview Large volume, Low cost Honest answers, Slow, Not very flexible Fast, Controlled sample, Flexible, Higher Response, More expensive, Bias Very flexible, Fast, Very expensive, Bias

34. Step 3: implementing the research plan Plan is put into action most expensive part of the process so: 1) important to watch for interviewer bias 2) accuracy

35. Step 4: interpreting and reporting findings Present important findings Company ultimately must decide on correct interpretation and how to proceed

36. Difficulties in Asking Questions of Consumers Do they really know whether they are likely to buy a particular product? Even if they know the answer, will they tell you? Will their actual purchase behaviour mirror their stated interests/intentions?

37. Chapter 5 Objectives Consumer Markets and Consumer Buying Behaviour Define the consumer market and construct a simple model of consumer buyer behaviour. Name the four major factors that influence consumer buyer behaviour. List and understand the stages in the buyer decision process. Describe the adoption and diffusion process for new products.

38. Factors Affecting Consumer Behaviour Cultural Culture Sub- culture Social class Social Reference groups Family Roles and status Personal Age and life-cycle Occupation Economic situation Lifestyle Personality and self-concept Psycho- logical Motivation Perception Learning Beliefs and attitudes

39. Cultural Factors Culture Social Class Sub-culture

40. Social Factors Groups reference groups aspirational groups Family Roles & Status

41. Personal Factors Age & Lifecycle Stage Occupation Economic situation Personality & Self- Concept Lifestyle

42. Psychological Factors Motivation Perception Learning Beliefs & Attitudes Physiological needs Safety needs Esteem needs Self-Actualtization Social needs

43. VALS2 Lifestyle Classification Achievers Strivers Actualizers Strugglers Experiencers Makers Fulfilleds Believers Abundant Resources Minimal Resources Principle Oriented Status Oriented Action Oriented

44. Buyer Decision Process Need recognition Purchase decision Evaluation of alternatives Post-Purchase behaviour Information search

45. Types of Buying Behaviour Complex buying behaviour Variety- seeking behaviour Dissonance reducing behaviour Habitual buying behaviour Low involvement High involvement Significant differences between brands Few differences between brands

46. Adopter Categorization: relative time of adoption Time of adoption of innovations 2.5% Innovators 34% Early majority 34% Late majority Early adopter s 13.5% 16% Laggards

47. Chapter 6 Objectives Business Markets and Business Buying Behaviour Define the business market and explain how business markets differ from consumer markets. Identify the major factors that influence business buyer behaviour. List and define the steps in the business buying-decision process. Compare the institutional and government markets and explain how institutional and government buyers make buying decisions.

48. Characteristics of Business Markets Differences Between Business and Consumer Markets Market Structure and Demand Nature of the Buying Unit Types of Decisions & the Decision Process Other Characteristics

49. Characteristics of Business Markets Differences Between Business and Consumer Markets Market Structure and Demand 1. Fewer but larger buyers 2. More geographically concentrated 3. Demand is more inelastic 4. Demand is derived 5. Demand fluctuates quickly

50. Characteristics of Business Markets Differences Between Business and Consumer Markets Nature of the Buying Unit 1. Involves more buyers 2. More professional purchasing procedures

51. Characteristics of Business Markets Differences Between Business and Consumer Markets Types of Decisions & the Decision Process 1. More complex 2. More formal 3. Buyer-seller relationships more dependent, long-term relationships

52. Characteristics of Business Markets Differences Between Business and Consumer Markets Other Characteristics 1. Buy direct v.s. via retailer 2. Practice reciprocity 3. Often lease v.s. purchase

53. Business Buying Influences Level of primary demand Economic outlook Cost of money Supply conditions Rate of technological change Political, regulatory developments Competitive developments Objectives Policies Procedures Organizational structure Systems Authority Status Empathy Persuasive- ness Age Education Occupation Personality Risk attitudes Environmental Interpersonal Organizational Individual

54. Business Buying Process 1. Problem Recognition 2. General Need Description 3. Product Specification 4. Supplier Search 5. Proposal Solicitation 6. Supplier Selection 7. Order Routine Specification 8. Performance Review

55. Institutions & Government Institutional Markets Government Markets Low Budgets Captive Patrons Centralized Buying Submitted Bids Public Review Outside Publics Non-economic Criteria

56. Chapter 7 Objectives Segmentation, Targeting, Positioning Define the three steps of target marketing: segmentation, targeting, positioning. List and discuss the major levels of market segmentation and the bases for segmenting consumer and business markets. Explain how companies identify attractive market segments and choose a market- coverage strategy. Explain how companies can position their products for maximum competitive

57. Steps in Market Segmentation, Targeting, and Positioning Market segmentation 1. Identify bases for segmenting the market 2. Develop profiles of resulting segments Market targeting 3. Develop measures of segment attractiveness 4. Select the target segment(s) Market positioning 6. Develop marketing mix for each target segment 5. Develop positioning for each target segment

58. Segmenting: 4 bases Geographic Demographic Psychographic Behaviouristic

59. Segmenting: geographic base  Divide market into separate geographic units  Nations, regions provinces, cities, neighbourhoods, etc.  Develop appropriate marketing programs

60. Segmenting: demographic base  Most popular method  Divide market into groups based on:  age sex family size & lifecycle income & occupation education religion ethnic background

61. Demographics - age  14% of population over 65  90% of 50+ are debt free  48% of all luxury cars sold are purchased by 50+ group  50+ age group controls 80% of Canada’s personal wealth up have 2/3 of disposable income 25% of population

62. Segmenting: psychographic base  Social class determines choice of home, car, clothes, leisure habits, etc.  Lifestyle reflected in purchases e.g. couch potatoes, sports enthusiasts, or symphony lovers  Personality express who they are

63. Segmenting: behavioural base Divide market into groups based on:  Occasions  User Status  Usage Rate  Loyalty Status  Benefits sought

64. Requirements for effective segmentation Requirements for Effective Segmentation Measurability Substantiality Actionability Accessibility

65. Requirements for effective segmentation Measurability - size, purchasing power, profiles of segments Accessibility - effectively reach and serve Substantiality - segments are large or profitable enough to serve Actionability - effective programs can be designed to attract segments

66. Market Targeting: evaluating market segments Segment size and growth Structural attractiveness Company objectives and resources

67. Company marketing mix Market Undifferentiated marketing Company marketing mix 1 Company marketing mix 2 Company marketing mix 3 Segment 1 Segment 3 Segment 2 Differentiated marketing Segment 1 Segment 3 Segment 2 Company marketing mix Concentrated marketing Selecting Market Segments

68. Positioning Defined by consumers on important attributes Place in mind relative to competing products Position happens - planned or not

69. Positioning Strategy: choosing and implementing Communicate and deliver chosen position Select the right competitive advantage Identify possible competitive advantage Select an overall positioning strategy

70. Positioning G Against a Competitor Usage Occasions Away from Competitors Product Attributes Product Class Benefits Offered Users B D C G F A E

71. Positioning Statement For (target customer) Who (statement of need or opportunity) The (product name) is a (product category) That (statement of key benefit) Unlike (primary competitive alternative) Our product (statement of primary

72. Chapter 8 Objectives Product Strategies Define product and the major classifications of products and services. Describe the roles of product and service branding, packaging, labelling, and product support services. Explain the decisions companies make when developing product lines and mixes.  Identify the four characteristics of a service.  Discuss the additional marketing considerations that services require.

73. Levels of Product Core benefit or service Augmented product Installation After- Sale service Delivery and credit Warranty Brand name Quality level Design Features Packaging Core product Actual product 8-1

74. Product Classifications: consumer products Types of Consumer Products Convenience products Shopping products Specialty products Unsought products

75. Product Decisions Branding Product attributes Packaging Product Support services Labelling

76. Product Attributes Quality Features Sizes Design

77. Product Support Services Services that augment the actual product e.g. 1-800 support for software program e.g. web/Internet technical support

78. Branding  Name, term, sign, symbol or design or a combination intended to identify goods or services of a seller or group to differentiate them from competitors

79. Brand Name Selection: desirable qualities  Suggest benefits and qualities  Easy to pronounce recognize & remember  Distinctive  Translated easily  Capable of registration & legal protection Craftsman

80. Major Branding Decisions To brand or not to brand • Brand • No brand Brand name selection Brand sponsor Brand strategy Brand repositioning • Selection • Protection • Manufacturer’s brand • Private brand • Licensed brand • Co-branding • New brands • Line extensions • Brand extensions • Multibrands • Brand repositioning • No brand repositioning Figure 8- 3

81. Value of Branding  Helps consumers shop more efficiently  Aids repeat purchase  Suggests quality of product  Creates store loyalty  Gives legal protection  Helps in segmenting markets  Symbol of ongoing promise Buyer’s viewpoint Seller’s viewpoint

82. Packaging/Labelling  What should the package do for the product? identify, describe, and promote  Elements support position & strategy  Environmental issues?

83. Chapter 9 Objectives New Product Development and Life Cycle Strategies Explain how companies find and develop new product ideas. List and define the steps in the new-product development process. Describe the stages of the product life cycle. Describe how marketing strategies evolve during the product’s life cycle.

84. New Product Development Process: Idea generation Idea screening Concept Development & testing Marketing strategy 9-1

85. Marketing Strategy Development Part one Target market Planned product positioning Sales, market share and profit goals (short term) Part two Outline price, distribution and first year marketing budget Part three Planned long-run sales Profit goals Marketing mix strategy

86. New Product Development Process: Idea generation Idea screening Concept Development & testing Marketing strategy Business analysis Product development Commercialization Test marketing 9-1

87. Why do new products fail?  Overestimated market or target market is too small  Poor design  Poor product quality  Incorrect positioning  Error in pricing  Poor marketing communication

88. Product Life-Cycle Strategies Profits Sales Development Introduction Growth Maturity Decline Sales Profit ($) Loss ($) 9-2

89. New Product Life Cycle Strategies Introduction Market Skimming Market Penetration

90. New Product Life Cycle Strategies Growth New Features Improve Quality Add Channels New Segments

91. New Product Life Cycle Strategies Maturity Product Modification Market Modification Modify Marketing Mix

92. New Product Life Cycle Strategies Decline Maintain Harvest Drop

93. Chapter 10 Objectives Pricing Strategies Identify and define the internal factors affecting a firm’s pricing decisions. Identify and define the external factors affecting pricing decisions. Contrast the three general approaches to setting prices. Describe the major strategies for pricing new products. Discuss the key issues related to price changes.

94. Factors Affecting Pricing Internal factors • Marketing objectives • Marketing-mix strategy • Costs • Organizational considerations External factors • Nature of the market & demand • Competition • Other environmental factors (economy, resellers, government) Pricing decisions

95. Internal Factors Internal factors • Marketing objectives • Marketing-mix strategy • Costs • Organizational considerations Pricing decisions

96. External Factors External factors • Types of markets • Price-demand relationship • Competition • Other environmental factors (economy, resellers, government) Pricing decisions

97. Demand Curves P’2 P’1 Q1 Q2 P1 P2 Q’1 Q’2 Quantity demanded per period Inelastic demand Quantity demanded per period Elastic demand Price

98. External Factors External factors • Types of markets • Price-demand relationship • Competition • Other environmental factors (economy, resellers, government) Pricing decisions

99. General Pricing Approaches 1. Cost-Based Approaches Cost-Plus Break-Even Target Profit Pricing Analysis Pricing

100. General Pricing Approaches 1. Cost-Based Approaches 2. Value-Based Approaches Perceived Value Pricing

101. General Pricing Approaches 1. Cost-Based Approaches 2. Value-Based Approaches Going-Rate Pricing Sealed-Bid Pricing 3. Competition-Based Approaches

102. New Product Pricing Strategies  setting a high price to maximize revenue  makes sense when: product quality and image supports a higher price costs of producing a small volume are not too high to cancel the advantage of charging more company has a patent or technological advantage Market Skimming

103.  Setting a low price to attract a large number of buyers and gain a dominant market share  makes sense when: market is highly price sensitive (low price stimulates sales and market growth) production costs must fall as volume increases low price must be an effective entry barrier for competitors New Product Pricing Strategies Market Penetration

104. Product-Mix Pricing Strategies Product Line Pricing $49.99 $89.99 $129.99 $149.99 $189.99

105. Product-Mix Pricing Strategies Product Line Pricing Captive Product Pricing

106. Product-Mix Pricing Strategies Product Line Pricing Captive Product Pricing Product Bundle Pricing

107. Price Adjustment Strategies Discount & Allowance Pricing International Pricing Segmented Pricing Psychological Pricing Promotional Pricing Geographical Pricing

108. Chapter 11 Objectives Distribution Channels and Logistics Management Explain why companies use distribution channels and explain the functions that these channels perform. Discuss how channel members interact and organize to perform the work of the channel. Identify the major channel alternatives. Discuss the nature and importance of physical distribution Analyze integrated logistics management.

109. Chapter 12 Objectives Retailing and Wholesaling Explain the roles of retailers and wholesalers in the distribution channel. Describe the major types of retailers and give examples of each. Identify the major types of wholesalers and give examples of each. Explain the marketing decisions facing retailers and wholesalers.

110. Distribution (Place) Good distribution is critical to the marketing success of products Three main types of channels: Direct Indirect Hybrid

111. Consumer Marketing Channels Manu- facturer Direct Whole- saler Retailer Retailer Consumer Manu- facturer Manu- facturer Manu- facturer Jobber Whole- saler Consumer Consumer Consumer Retailer Indirect Indirect Indirect

112. Hybrid Marketing Channel Consumer segment 1 Business segment 1 Consumer segment 2 Business segment 2 Retailers Dealers Distributors Producer Catalogues, telephone Sales force

113. Distribution Channel Functions  Information: gathering and distributing marketing research  Promotion  Contact: finding and communicating with prospective buyers  Matching offers to buyer’s needs  Negotiation  Physical distribution, financing, risk taking

114. Why Use Marketing Intermediaries? An intermediary reduces the number of channel transactions # of contacts without a distributor M x C = 3 x 3 = 9 # of contacts with a distributor M x C = 3+ 3 =6

115. Franchise organizations Administered VMS Retailer cooperatives Wholesaler-sponsored voluntary chains Contractual VMS Corporate VMS Manufacturer- sponsored retailer franchise Manufacturer- sponsored wholesaler franchise Service-firm- sponsored franchise Figure 12-4 Vertical Marketing Systems (VMS)

116. Major Logistics Functions Nature of Distribution Order Processing Warehousing Transportation Inventory

117. Chapter 13 Objectives Integrated Marketing Communication Strategy Name and define the five tools of the promotion mix. Discuss the processes and advantages of integrated marketing communications. Outline the steps in developing effective marketing communication. Explain the methods for setting the promotion budget and factors that affect the design of the promotion mix.

118. Promotion Mix Advertising Direct Marketing Personal Selling Public Relations Sales Promotion Promotion Mix

119. Marketing Communications Mix Advertising paid placement of a message in the media non-personal presentation and promotion of ideas, goods, or services identified sponsor

120. Marketing Communications Mix Sales Promotion short-term incentives to encourage the sale of a product or service

121. Marketing Communications Mix Personal Selling personal presentation by a firm’s sales force for the purpose of making sales and building customer relationships

122. Marketing Communications Mix Public Relations free placement of a message in the media on-going process of building good relations with the company’s various publics by:  obtaining favourable publicity  building a good corporate image  handling stories or events  heading off unfavorable rumours

123. Marketing Communications Mix Direct Marketing direct communications with carefully targeted individual consumers to obtain an immediate response using mail, telephone, fax, e-mail and other non-personal tools

124. 1. Identify the target audience Steps in Developing Effective Communication

125. 1. Identify the target audience 2. Determine the desired response Steps in Developing Effective Communication

126. Buyer-Readiness Stages Awareness Knowledge Liking Purchase Conviction Preference

127. 1. Identify the target audience 2. Determine the desired response 3. Design a message Steps in Developing Effective Communication

128. Designing a message Message Content rational - emotional - moral appeal? Message Structure open vs. conclusion? one side or two sides? Message Format words - images - colour - sounds - expressions?

129. 1. Identify the target audience 2. Determine the desired response 3. Design a message 4. Choose the media Steps in Developing Effective Communication

130. Choosing media Personal channels  face to face, phone, email, mail  allows personal contact and feedback Non-personal channels  major media e.g. print, radio, tv, etc.  no personal contact or feedback  Opinion leaders key to reaching others

131. Choosing Advertising Media 1. Reach # of people in your target market reached 2. Frequency how often people in your target market see your promotions 3. Impact

132. 1. Identify the target audience 2. Determine the desired response 3. Design a message 4. Choose the media 5. Select the message source Steps in Developing Effective Communication

133. Selecting the message source  Credible sources more persuasive  Credible people, e.g. doctors, dentists, health- care providers  Celebrity endorsers

134. 1. Identify the target audience 2. Determine the desired response 3. Design a message 4. Choose the media 5. Select the message source 6. Collect feedback Steps in Developing Effective Communication

135. Setting the Promotion Budget Affordable method Percent of sales Competitive parity Objective and task

136. Chapter 14 Objectives Advertising, Sales Promotion and Public Relations Define the roles of advertising, sales promotion, and public relations in the promotion mix. Describe the major decisions involved in developing an advertising program. Explain how sales promotion campaigns are developed and implemented. Explain how companies use public relations to communicate with their publics.

137. Promotion Tools The Nature of Each Promotion Tool Advertising Legitimate Public Repetition Expensive

138. Promotion Tools The Nature of Each Promotion Tool Advertising Legitimate Public Repetition Expensive Personal Selling Effective Costly Two Way Relationships

139. Promotion Tools The Nature of Each Promotion Tool Advertising Legitimate Public Repetition Expensive Personal Selling Effective Costly Two Way Relationships Sales Promotion Timing Incentive Short Term

140. Promotion Tools The Nature of Each Promotion Tool Advertising Legitimate Public Repetition Expensive Personal Selling Effective Costly Two Way Relationships Sales Promotion Timing Incentive Short Term Public Relations Credibility Under Used

141. Campaign evaluation Communication impact Sales impact Message decisions Message strategy Message execution Budget decisions Affordable approach Percent of sales Competitive parity Objective and task Objectives setting Communication objectives Sales objectives Media decisions Reach, frequency, impact Major media types Specific media vehicles Media timing Figure 15-1 Major Advertising Decisions

142. Stage in Product Life Cycle Push or Pull Setting the Promotion Mix Factors in Setting the Promotion Mix Type of Market Buyer Readiness

143. Relative importance Relative importance Advertising Sales promotion Personal selling Public Rel. Personal selling Sales promotion Advertising Public Rel. Consumer Goods Industrial Goods Type of Market

145. Push versus Pull Strategy Retailers and Wholesalers Consumers Consumers Retailers and Wholesalers Producer Producer Producer marketing activities Reseller marketing activities Push strategy Pull strategy Producer marketing activities Demand Demand

147. Chapter 15 Objectives Personal Selling Discuss the role of a company’s salespeople in creating value for customers and building customer relationships. Explain how companies design sales force strategy and structure. Explain how companies recruit, select, and train salespeople. Describe how companies compensate and supervise salespeople and how they evaluate sales-force effectiveness.

148. Steps in Effective Selling Prospecting and qualifying Pre-approach Approach Presentation and demonstration Follow-up Closing Handling objections

149. Chapter 16 Objectives Direct and Online Marketing  Discuss the benefits of direct marketing to customers and companies and the trends fuelling its rapid growth.  Define a customer database and list the four ways that companies use databases in direct marketing.  Identify the major forms of direct marketing.  Compare the two types of online marketing channels and explain the effect of the Internet on e-commerce.  Identify the benefits of online marketing to consumers and marketers and the four ways that

150. What is Direct Marketing?  Communications with carefully targeted individual consumers to obtain an immediate response Cultivate relationships Often one-to-one interactive Precise targeting More effective results

151. Customers and prospects Face-to-face selling Tele- marketing Direct mail Kiosk Online Direct Response TV Catalogue Forms of Direct Marketing Figure 17-1

152. Chapter 8 Objectives Product Strategies  Define product and the major classifications of products and services.  Describe the roles of product and service branding, packaging, labelling, and product support services.  Explain the decisions companies make when developing product lines and mixes. Identify the four characteristics of a service. Discuss the additional marketing considerations that services require.

153. Marketing is the process of helping others value your service.

154. Services are Different SERVICES Intangible services cannot be seen, tasted, felt, heard or smelled before purchase

155. Services are Different SERVICES Inseparable services cannot be separated from their providers

156. Services are Different SERVICES Variability (Inconsistency) quality of services depends on who provides them and when, where and how

157. Moments of Truth Execs Front Line Employees Middle Management customers

158. Services are Different SERVICES Perishability (Inventory) services cannot be stored for later sale or use

159. Services are Different SERVICES Intangible services cannot be seen, tasted, felt, heard or smelled before purchase Variable quality of services depends on who provides them and when, where and how Inseparable services cannot be separated from their providers Perishable services cannot be stored for later sale or use

160. Service-Profit Chain Which is most important? customers stockholders employees

161. Chapter 17 Objectives The Global Marketplace Discuss how the international trade system, economic, politico-legal, and cultural environments affect a company’s international marketing decisions. Describe three key approaches to entering international markets. Explain how companies adapt their marketing mixes for international markets. Identify the three major forms of international marketing organization.

162. Deciding Whether to go international Deciding which markets to enter Looking at the global marketing environment Deciding on the global marketing program Deciding on the global marketing organization Deciding how to enter the market Major Decisions in International Marketing

163. Global Marketing Environment International Trade System  Tariffs  Quotas  Embargos  Exchange controls  Non-tariff trade barriers

164. Global Marketing Environment Economic Environment  Income distribution  Industrial structure: - subsistence economies - raw-material exporting economies - industrializing economies - industrial economies

165. Global Marketing Environment Politico-Legal & Ethical Environment  Attitude toward foreign businesses  Extent of government bureaucracy  Political stability  Monetary regulations  Countertrade Compensation Counterpurchase

166. Global Marketing Environment Cultural Environment  Language, customs  Folkways, norms, taboos  Business norms & behaviour e.g. Personal distance e.g. Meeting and greeting

170. Market Entry Strategies Exporting Direct Indirect Joint venturing Licensing Contract manufacturing Management contracting Joint ownership Direct investment Assembly facilities Manufacturing facilities Amount of commitment, risk, control, and profit potential

172. Develop new product Communication adaptation Dual adaptation Product invention Straight extension Product adaptation Adapt product Don’t change product Don’t Change promotion Adapt promotion Product Promotion International Product & Promotion Strategies

173. Develop new product Communication adaptation Dual adaptation Product invention Straight extension Product adaptation Adapt product Don’t change product Don’t Change promotion Adapt promotion Product Promotion International Product & Promotion Strategies

175. Global Marketing Organization Methods of Organizing International Marketing Operations Export Department International Division Global Organization

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