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Marketing summary Y2Q2 BV
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Extended summary of Marketing BV quarter Y2Q2. Contains training slides and book chapters.
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BV Marketing summaryContents
BV Marketing summary .......................................................................................................................... 1
Chapter 8 Products, services and brands: building customer value ................................................... 1
Packaging in product decision, week 1 slides ..................................................................................... 8
Digital media audit week 1 slides ..................................................................................................... 11
Chapter 12 Marketing channels: delivering customer value (P of Place) ......................................... 17
Week 2 slides P of Place.................................................................................................................... 22
Page 632 – 649 P of Price: Marketing by the numbers + week 3 content ........................................ 31
Chapter 14 Engaging customers and communicating customer value + week 5 content................ 39
Chapter 15 advertising and public relations to do............................................................................ 47
Chapter 17 Direct, online, social media and mobile marketing + week 6 content .......................... 49
Chapter 8 Products, services and brands: building customer value
Product = Anything that can be offered to a market for attention, acquisition,
use or consumption that might satisfy a want or need.
Service = an activity, benefit or satisfaction offered for sale that is intangible
and does not result in the ownership of anything.
Product classifications
1) Durability
Durable product = products used over an extended period of time and
normally survive for many years (couches, cars).
Non-durable products = products that are normally consumed quickly and
used on one/few usage occasions. (food)
, 2) Buyer
Consumer products =
bought by final
consumers for personal consumption
Industrial products = purchased for further processing, to use in
conducting business. Not for personal consumption! The buyer is a
company or organisation, no household.
4 types of consumer products (different ways consumers buy them) (see page
229):
1. Convenience/FCMG (fast moving consumer products): rice, milk, soup.
Consumers buy it frequently, with minimal comparison and little buying
effort. Highly available.
2. Shopping products: furniture mobile phones, clothing, airline ticket.
Consumers compare products carefully on quality, price and style.
Spending much time and effort in comparing and getting info.
3. Specialty products: honeymoon, luxury goods, Ferrari, horse. Products
with unique characteristics for what a consumer is going to make a special
purchase effort. You only buy these items a few times in a lifetime.
Buyers do not compare the specialty products but invest in the time
needed to reach dealers carrying the wanted products.
4. Unsought products: funeral insurance, blood donations. Consumer doesn’t
know about the product or doesn’t consider buying it. These products
need a lot of advertising, personal selling and marketing effort (selling
marketing concept!)
,3 types of industrial products:
1. Material and parts: raw materials (farm products like cotton, fruits, fish,
wood), manufactured materials and parts (cement, computer chips, motor
parts).
2. Capital items: installations, accessory equipment. Product that aid in a
buyer’s production or operation. Like office equipment such as desks,
chairs and computers.
3. Supplies and services: supplies, business services. Suppliers of paper and
pens, window cleaning, computer repair, legal services.
3) Three levels of a product:
1. Core customer value. The core problem-
solving services or benefits that consumers
are really buying when they obtain a
product. (what is the buyer really buying?
What customer needs are fulfilled by
buying the product?).
2. Actual product. The physical good or
delivered service that you actually get.
(product planners must turn the core
benefit into an actual product. They need
to develop the product, service features,
design, the quality level, brand name and packaging).
3. Augmented product. Additional customer services and benefits. Must be
build around the core and actual product by offering additional consumer
services and benefits, like installation services or guarantees.
iPad-example:
1. What you buy is communication, freedom, on the go connectivity
2. Name, various parts, design, packaging, brand
3. Warranty on iPad, repair service, customer telephone service
Product life cycle PLC: characteristics and phases
(Chapter 9 page 274 – 280)
PLC = the course of a product’s sales and profits over its lifetime.
, 1) Product development: when the company finds and develops a new
product idea. No sales, high investments.
2) Introduction: a period of slow sales growth as a product is introduced in
the market. Profits are non-existent because of heavy expenses of product
introduction. The phase in which a product is first distributed and made
available for purchase.
3) Growth: a period of rapid market acceptance and increasing profits. Sales
starts climbing quickly.
4) Maturity: period of slowdown sales growth because a product has
achieved acceptance by most potential buyers. Profits level off or decline
because of increased marketing outlays to defend a product against
competition.
5) Decline: the period when sales fall of and profits drop.
PLC & BCG Stages
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