Business

9/13/12

A note about lecture notes:

Fall 2012 Module 1

Delighting Customers Lecture 1: Marketing Strategy Planning Lecture notes don’t have all the slides from class. Rationale? File size, IP concerns and to encourage people to come to class

David Robinson

© D. Robinson, 2012

We went to China What did you do over the summer?

1

9/13/12

Weddings are big business in China

Question: Why does your mom want you to get married?

Why does your mom want you to get married?

Survey results: 3.____________ 5 percent 2.____________ 10 percent 1.____________ 85 percent

People spend a lot of money on wedding photos:

2

9/13/12

Marketing Decisions If you were planning to market the Chinese Wedding Photos in the US, what decisions would you have to make?

•  •  •  •  • 

Four Steps to Marketing Strategy

Developing Marketing Strategy

Define the market

Segment the market, choose attractive segments Design a marketing mix to appeal to the target

Position our offering

3

9/13/12

Step 1: Defining the Market

Define the market

Segment the market, choose attractive segments Design a marketing mix to appeal to the target

Definition of “A Market”

1.  People who have a need for our product 2.  People with enough money to buy our product [or in business-to-business marketing, “firms that have . . .”]

Deciding who will buy

Position our offering

What is the definition of the Market for Chinese-style Wedding Photos?

1.  People who have a need for our product

Hmm, seems pretty broad . .

Step 2: Cut the market up

Define the market

Segment the market, choose attractive segments Design a marketing mix to appeal to the target

2.  People with enough money to buy our product

Who are we trying to delight?

Position our offering

4

9/13/12

Once we’ve defined the potential market, we cut it up

•  Who is likely to buy our Chinese-style special wedding photos?

•  People in California, or people in...