Marketing
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Marketing
Learning objectives
• The meaning of marketing• Difference between marketing and sales• External and internal components of a marketing
plan
What is marketing?
Marketing is the activity, set of institutions,
and processes for creating, communicating,
delivering, and exchanging offerings that
have value for customers, clients, partners,
and society at large.
AMA 2013
What all does marketing involve?
Knowing markets and “the” market
Knowing customers
Knowing potential customers
Knowing their needs
Knowing their latent needs (and wants)
Knowing how they think
Knowing how their thinking can be shaped
Knowing how impressions form
Knowing effective ways to form impressions
Knowing competitors and their strategies
Knowing how to organize a team
Knowing how to win at the “front-line”
Marketing vs sales
Let us develop the distinction in our own words
Scope of marketing
Every organization needseffective marketing in order to succeed
Developing a marketing plan
What information would you need?
Components of a marketing plan
1. Target market/customers2. Product attributes3. Pricing strategy4. Place (distribution) model5. Promotion plan6. Company positioning
Marketing mix- 4Ps
Components of a marketing plan
product place
Target customers
price promotion
The 4 P’s
Positioning
Marketing plan
Target customers
“A customer is the most important visitor on our premises. He is not dependent on us. We are dependent on him.He is not an interruption of our work. He is the purpose of it.He is not an outsider on our business. He is part of it.We are not doing him a favour by serving him.He is doing us a favour by giving us an opportunity to do so.”
- Mahatma Gandhi, 1890
The customer
The customer
The customer- market research
• The systematic and objective process of generating information
for aid in making marketing decisions
• The formal link between a company and the environment,
gathering information on:
customer’s wants and needs
the environment
The customer- market research
• the objective of marketing research is to facilitate the development of
knowledge that will help make decisions related to the each component of
the marketing plan
The customer- market research
• three types of marketing research
(varying according to the research problem, hypotheses, data collection
methods):
1. exploratory research – to gain ideas and insights (qualitative)
2. descriptive research – to provide numerical information (quantitative)
3. causal research – to establish causality (quantitative)
• two types of data for marketing research
1. primary data
2. secondary data
The customer- market research
•Primary data simplified market research:
visit retailers, home centres, department stores
look at flyers and brochures
face-to-face conversations with experts, consultants, academics,
managers, trade associations, supply chain actors, sales staff
attend trade shows, home shows
talk to people with first-hand knowledge – carpenters, builders,
architects, developers, renovators, etc.
trade magazines and journals
online reports
The customer- market research
•Secondary data: Governments
Canada: Industry Canada, Department of Foreign Affairs and International Trade, Natural Resources Canada / Canadian Forest Service, National Research Council, Statistics Canada, Canada Mortgage and Housing Corporation, provincial ministries of forests, provincial ministries of statistics, industry, and trade
United States: USDA Forest Service, US Department of Commerce - Bureau of Census
The customer- market research
•Secondary data: Associations
Canada: Forest Products Association of Canada, Canadian
Plywood Association, Council of Forest Industries, Structural Board Association, BC Wood Specialties (and other provincial equivalents), Canadian Wood Council, Western Red Cedar Lumber Association, Bureau de Promotion des Industries du Bois, Canadian Home Builders Association, Canadian Manufactured Home Association
United States: The Engineered Wood Association, The
American Forest and Pulp Association, The American Wood Council (and state equivalents), Western Wood Products Association, Southern Forest Products Association, American Hardwood Export Council, National Association of Home Builders, National Association of the Remodeling Industry, Wood Products Manufacturers Association, American Manufactured Home Association
The customer- market research
•Secondary data: Universities
Centre for Advanced Wood Processing (University of British Columbia), Center for International Trade in Forest Products (University of Washington), Center for Forest Products Marketing (Virginia Polytechnic Institute), plus forest products marketing departments at University of British Columbia, Louisiana State University, Oregon State University, Pennsylvania State University, University of Washington, Virginia Polytechnic Institute, University of Helsinki, Boku University
The customer- market research
•Secondary data: Journals
Academic: Forest Products Journal, Wood and Fiber Science, Journal of the Institute of Wood Science, Canadian Journal of Forest Research, Forestry Chronicle, Forest Science, Journal of Forestry, Journal of Forest Products Business Research
Trade: Asian Timber, Canadian Forest Industries, Crows Digest, Engineered Lumber Trends, Environmental Building News, Furniture/Today, Japan Lumber Reports, Logging and Sawmilling Journal, Madison’s, Random Lengths, Resource Information Systems Inc., Pacific Rim Wood Markets Report, Timber Trades Journal, Wood Flooring, Wood le Bois, Wood Products, Wood Science and Technology, Wood Technology, World Wood, Woodworking, Wood Markets Quarterly
The customer- market research
•Secondary data: Internet
Food and Agriculture Organization of the UNIndustry Canada - StrategisStatistics CanadaUS Census BureauFreedonia Focus (via UBC)Hoovers
Marketing mix
Target customers
product
Product
Physical good or service that satisfies a customer’s wants and needs
Products classification in the forest sector:• Commodity products • Value-added products• Differentiated products• Innovative products• Non timber forest products • Subsistence products• Ecosystem services
Forest products
lumberpaper
furniturefruits and nuts
carbon
plywood
doors and windows
musical instruments
flooring
newsprint
oriented strandboard
recreation
toys
shakes and shinglesMSR lumber
decks
prefabricated homes
bioenergy
medicinal products
rayon
maple syrup
corks
pulp
firewood
ethanol
biofuels
pallets
charcoal
medium density fibreboard
ecotourism
cabinets
spices
bark mulch
rubber
florals
waxes
resins
turpentine
coated papers
packaging
fencing
oils
food additives
inks
cosmetics
methanol
nanocellulose fibers
lumberpaper
furniturefruits and nuts
carbon
plywood
doors and windows
musical instruments
flooring
newsprint
oriented strandboard
recreation
toys
shakes and shinglesMSR lumber
decks
prefabricated homes
bioenergy
medicinal products
rayon
maple syrup
corks
pulp
firewood
ethanol
biofuels
pallets
charcoal
medium density fibreboard
ecotourism
cabinets
spices
bark mulch
rubber
florals
waxes
resins
turpentine
coated papers
packaging
fencing
oils
food additives
inks
cosmetics
methanol
nanocellulose fibers
commodity products
Forest products
lumberpaper
furniturefruits and nuts
carbon
plywood
doors and windows
musical instruments
flooring
newsprint
oriented strandboard
recreation
toys
shakes and shinglesMSR lumber
decks
prefabricated homes
bioenergy
medicinal products
rayon
maple syrup
corks
pulp
firewood
ethanol
biofuels
pallets
charcoal
medium density fibreboard
ecotourism
cabinets
spices
bark mulch
rubber
florals
waxes
resins
turpentine
coated papers
packaging
fencing
oils
food additives
inks
cosmetics
methanol
nanocellulose fibers
differentiated products
Forest products
lumberpaper
furniturefruits and nuts
carbon
plywood
doors and windows
musical instruments
flooring
newsprint
oriented strandboard
recreation
toys
shakes and shinglesMSR lumber
decks
prefabricated homes
bioenergy
medicinal products
rayon
maple syrup
corks
pulp
firewood
ethanol
biofuels
pallets
charcoal
medium density fibreboard
ecotourism
cabinets
spices
bark mulch
rubber
florals
waxes
resins
turpentine
coated papers
packaging
fencing
oils
food additives
inks
cosmetics
methanol
nanocellulose fibers
value-added products
Forest products
lumberpaper
furniturefruits and nuts
carbon
plywood
doors and windows
musical instruments
flooring
newsprint
oriented strandboard
recreation
toys
shakes and shinglesMSR lumber
decks
prefabricated homes
bioenergy
medicinal products
rayon
maple syrup
corks
pulp
firewood
ethanol
biofuels
pallets
charcoal
medium density fibreboard
ecotourism
cabinets
spices
bark mulch
rubber
florals
waxes
resins
turpentine
coated papers
packaging
fencing
oils
food additives
inks
cosmetics
methanol
nanocellulose fibers
non-timber forest products
Forest products
lumberpaper
furniturefruits and nuts
carbon
plywood
doors and windows
musical instruments
flooring
newsprint
oriented strandboard
recreation
toys
shakes and shinglesMSR lumber
decks
prefabricated homes
bioenergy
medicinal products
rayon
maple syrup
corks
pulp
firewood
ethanol
biofuels
pallets
charcoal
medium density fibreboard
ecotourism
cabinets
spices
bark mulch
rubber
florals
waxes
resins
turpentine
coated papers
packaging
fencing
oils
food additives
inks
cosmetics
methanol
nanocellulose fibers
subsistence products
Forest products
lumberpaper
furniturefruits and nuts
carbon
plywood
doors and windows
musical instruments
flooring
newsprint
oriented strandboard
recreation
toys
shakes and shinglesMSR lumber
decks
prefabricated homes
bioenergy
medicinal products
rayon
maple syrup
corks
pulp
firewood
ethanol
biofuels
pallets
charcoal
medium density fibreboard
ecotourism
cabinets
spices
bark mulch
rubber
florals
waxes
resins
turpentine
coated papers
packaging
fencing
oils
food additives
inks
cosmetics
methanol
nanocellulose fibers
innovative products
Forest products
Products
product
reputation
credit
quality
warranty
style
reliability
service
Total Product Concept
Product life cycle (PLC)
Introduction Growth Maturity Decline
0
in $
VALUE
TIME
PLC- utility
used for classifying products and developing marketing strategies
understanding where your product lies (or will soon lie) allows for strategic planning
Introduction: Growth: Maturity: Decline:
basic added features diversity of features basicand services
PLC- implications
length of a product’s life cycle depends on:
the rate of technological change and innovation
market acceptance of substitutes
economic factors
product class
extending a product’s life cycle is possible:
redefine markets
redefine production
redefine products
redefine business model
A word of caution..
the product offers no competitive advantage
markets are poorly defined
poor company fit, lack of channel support
weak marketing efforts
development / production / marketing costs underestimated
markets overestimated
poor understanding of customers’ wants and needs
• When new products fail in the marketplace?
Marketing mix
Target customers
place
Place/Distribution
• sometimes known as “distribution”,
“logistics”, “supply chain management”
• all of the activities that get the right
product to the right customer at the right
time
source: Vahid (2011)
Place
system made up of independent institutions involved in moving products from points of production to points of consumption
source: Sinclair (1992)
channels of distribution:
which intermediaries should be used?
channel ownership?
level of cooperation along supply chain?
domestic or international markets?
delivery times and locations?
packaging and treatments?
inventories?
mode of transport?
agents, merchants
vertical integration
Marketing mix
Target customers
price
Price
• amount charged for a good or service
fixed costs
variable costs
taxes
profit margin
Price
pricing models:•cost-based pricing•market share-based pricing (introductory pricing)•sales volume-based pricing•status quo pricing•value-based pricing•discounts:
trade, package, cash, promotional, quantity, seasonal, coupons, rebates
Promotion
The Promotional Mix
Traditional Advertising
Direct Marketing
Internet Marketing
Sales Promotion Public Relations Personal Selling
source: Belch et al. (2011)
Promotion and target market
mass marketing:a single marketing aimed at as broad a range of customers as possible
market
target marketing:segmenting the market and targeting products/services to one or more well-defined customer groups
advantages of market segments:• greater profit potential• less risk• less resources
market segments should be:• homogenous• accessible• economical
examples of market segments:• industrial vs. consumer• geographic• customer/product class• demographic• psychographic
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