MK102N-atelier-1--Marketing-Mix-and-Product-Life-C

MK102NMarketingMixSession1:FromAnalysistoDecisionsProductLifeCycleandProductPortfolioKeepingyourofferinguptodateandearningmoney1)Frommarketanalysistomarketingmix-TheMarketingProcess©TheMcGraw-HillCompanies,2004PESTELCompetitoranalysisSWOT,MarketResearchSegmentationTargetingPositioningFixingSMARTobjectivesSpecificMeasurableAchievableRealisticTime-framespecificExamples•Tosell350unitsbetweenJanandJune2011.•Followup500leadsandfix100meetings•Achievespontaneousrecognitionforabrandof80%in1yearThestartingpointofyourmarketingplanTheProductLifeCycle(PLC)(memorisethis!)Thesalesandmarketingcycleovertime55millioniPadsandiPad2soldin2years,newiPadpredicts2,5millionsalesinfirst3daysoflaunchIllustration:EncyclopediaBritannica–founded1768EncyclopediaBritannica32-volumeprintedition(retailvalue$1400)Peaksalesin1990–120000setssoldinUS.Fallto8000setsIn20101994onlineencyclopedia,$70ayearforfullonlineaccess.2011iPadeditionfor$1.99amonthBritannicaOnlineisbeingout-visitedbyWikipediabyafactorof184:1Only15%ofrevenuecomesfromtheencyclopedia.85%ofrevenueisexpectedtocomefromeducationalproductsandservices,MultimediaCD1989ImplicationsofthePLCforoperationalmarketingFillintheblanksLaunchGrowthMaturityDeclineOverallStrategyCompetitivesituationProductstrategyPricestrategyCommunication&promotion4.4)ImplicationsofthePLCformarketingstrategyLaunchGrowthMaturityDeclineStrategyDevelopthemarketCreateawarenessMaximisemarketpenetrationMaximiseprofitsanddefendmarketshareReducespendingto«milk»theproductCompetitorsAfewcompetitorsArrivalofcompetitorsandme-tooproductsstableinnumberfewerProductBasicImprove,differentiateRationalisecuttheproductswhicharetheweakestPricePotentiallyhighMorepriceflexibilitytofightagainstcompetitorsStable,slightpricedecreaseLoworhighCom-promoAwareness,EarlyadoptersProvoketrialSegmentedapproachLoyalcustomersonlyRoger’sModelfortheadoptionanddiffusionofInnovationInnovationandPLCoftheiPad..…thisbeautifulnewtouch-screendevicefromApplehasthepotentialtochangeportablecomputingprofoundly,andtochallengetheprimacyofthelaptop.Itcouldevenhelp,eventually,topropelthefinger-driven,multitouchuserinterfaceaheadofthemouse-driveninterfacethathasprevailedfordecades.1-TheEconomist2,in2010.....itisnotalaptopandcannotdoanumberofthingsthatyoucandoononeeither.However,theydopointoutthatitismoreconvenient,forlisteningtomusicandreadingbooks.3-NewYorkTimes4,in2010AppleiPad(iPad)hadwontheInnovationoftheYearaward20106,itcameasnosurprisetoanyoneasitwashailedasaproductthatdemonstratedtruetechnologicalinnovationandwhichhadthepowertoimprove,changeorcreateaproductcategory.“thirddevice”“Farbetteratsomekeythings”Salientfeatures:Utility(morethanaphone)Portability(morethanaPC)Morepowerful(thanane-Bookreader)Convenient,intuitive(webbrowsing,lookingatphotos,checkingmails)Professionaltool,orentertainmentgadget?Consolidatesmultiplefunctionsinonedevice(insteadofMP3players,GPS,netbookreaders)JulietARMANDLecture2Whatneedsisitaddressing?AmultimediaentertainmentexperienceWhereyouuseit–nottotalmobility(liketelephone),butmobilewhereyouhavesettled-inthelivingroom,kitchen,parkbench,office,Starbucks,subwaycommute,classroom,aeroplaneHowyouwilluseit-watchingvideo,lookingatpictures,surfingtheweb,andgaming,readingthenewspaper55millioniPadsandiPad2soldin2years,newiPadpredicts2,5millionsalesinfirst3daysoflaunchTabletsonthemarketin2012StarsQuestionmarksCashcowsDogs4.4)AnalysisofPortfoliousingtheBostonConsultingGroupMatrix(BCG)ABCDEMarketinguseofBostonMatrixBuildsales,investtoimprove/maintainposition,repelcompetitorsMarketGrowthRateRelativeMarketShareStarsQuestionmarksDogsCashCowsLoHiHiLoBuildselectively,focusondefendableniche,harvestordivestHold/defendposition,useexcesscashtofundportfolioHarvest,divestorfocusAllmodelsareaimingtocreatesimplisticoverviewstoenabledecisionmaking,butneverloseyourjudgementIsthisahealthydistribution?ForThursday22ndMarch1.CelebrationsCaseStudy:Readthecasecarefullyandprepareanswerstothequestionsontheworksheet2.BusinessPlan:1.Writeatleast2SMARTobjectivesforyourbusinessplanandcompletetheintroductorypages2.Completefiches10.1foryourprojectinEnglish.3.Finalisetheproduct/servicerange(allaspects:egifarestaurantyoushoulddefinemenus,combos,size,numberofservices/tables,openinghours)4.Writeasheetofsalesargumentsregardingyourproductusingthesheet(ReminderoftheNeedyouareaddressing/Featuresoftheproducts/Benefitsforthecustomer)