Principles of Marketing for BY Arnav Rana Lili Chan Mina Lee
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Transcript
Principles of Marketing
for
BYArnav Rana
Lili ChanMina Lee
Contents
Managing Profitable customer relationship
Company and Marketing StrategyMarketing EnvironmentBuyer’s BehaviorCustomer Driven Marketing StrategyProduct, Services and Branding StrategyPricing Products
Marketing ProcessFailed to understand market
place and consumer need and wants
Marketing MyopiaLed to bankruptcyTried to differentiate and position
itself
Focused on ….
Production concept Reduction of number of
movement parts from 90→5140% reduction in cost in
assembles Parts were 0.002 mm
Strategic planning Mission To come out from the lossObjective & Goal To design low price analog To compete with digital watchDesign business portfolioProduct developmentHigh class to all
Marketing Mix
Product -0.1mm analog watch
-Different colors and designs Price $40
Promotion -Swatch
-Giant Swatch clock
Place Swatc
h
Micro environment
Macro environment
Factors Affecting Consumer Behavior
Social FactorsPersonal FactorsEconomic SituationsPsychological Factors
Variety-Seeking Buying Behavior
Steps to Create Value forTarget Customers
Segmentation
- Demographic-Psychographic-Behavioral
Differentiation
-More for less-High quality -low price
Targeting-Teens and 20s’-Lower Class and above
Positioning-Reliability-Craftsmanship-stylish
Create value
Product DecisionsShopping productQuality- reliability & craftsmanshipFeatures – 1mm thick and water
proofStyle and Design –different colors
and plastic caseBranding Development
Strategy
NEW BRAND
Value based pricing Customer : everyone ↓Value : style , different colors, water proof ↓Price : $40 ↓Cost : $6.65 ↓Product : watch
Monopolistic Market
Pricing Strategy
Market Penetration Pricing
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