Marketing

Char 1.

Commoditization: A consequence of mature industries, where slowing innovation, extensive product assortment, excess supply, and fickle, price-conscious consumers force margins to the floor.

Today’s economy is characterized by rapid technological change, economic/financial anxiety, and increasing consumer skepticism.

“And it’s a complete mistake to say that knowledge is the most critical resource in the New Economy. Knowledge today is __commodity_________. You can __buy it by the yard________________ from just about anywhere.” (Hamel and Bernhut, 2001).

AGE OF IMAGINATIVE INTENSITY

Rate of __idea generation and utilization_____________________ in Organization.

Reflected in the number of ideas, trials, ventures and market successes it achieves per period of time.

THE CHALLENGES AND OPPORTUNITIES OF MARKETING IN TODAY’S ECONOMY

Power shift to _Customer________

Massive increase in product selection

Audience and media _fragmentation__________

Changing value propositions

Privacy, security, and ethical concerns

OPEN SOURCE BUSINESS MODEL

“A model for a new kind of business organization that could form the basis for a new kind of economy” (Economist)

_Android_________ operating system: 82.8 % of market share worldwide (IDC, Q2 2015).

1.43 million __applications_________ available in the __Android______ market (Appfigures, 2015)

Utility: The ability of a product to _satisfy a customers needs and wants_____________________________

_Form____ utility – attributes or features that set the product apart

Time utility – products available when customers want them

Place utility – products available where customers want them

Possession utility – transfer of ownership or title; ease of acquisition

__psychological________ utility – positive experiential attributes that customers find satisfying

Strategic Planning

Strategy – the organization’s game plan for success

Tactical planning – specific markets/segments and the marketing programs that will...