Koter On Marketing Chp1

Front 1

What are Winning marketing 9 practices?

Back 1

1.Win Through Higher Quality
2.Win Through Better Service
3.Win Through Lower Price
4.Win Through High Market Share
5.Win Through Adaptation and Customization
6.Win Through Continuous Product Improvement
7.Win Through Product Innovation
8.Win Through Entering High-Growth Markets
9.Win Through Exceeding Customer Expectation

Front 2

Win Through Better Service?

Back 2

We all want good service. But customers define it in different ways. Every service breaks down into a list of attributes: SPEED, CORDIALITY, KNOWLEDGE, PROBLEM-SOLVING.
Every person places different weights at different times in different contexts on each of the service attributes.

Front 3

Win Through Lower Price?

Back 3

A low price strategy has worked for a number of companies. But low-price leader must be careful. A lower-price firm might suddenly enter the market...
Also customers feel they are buying on value, not price only.

Front 4

Win Through Higher quality?

Back 4

Everyone agrees that poor quality is bad for business.
But What quality about winning through good quality?
There are four problems.
1.Quality has a lot of meaning.
2.People often can not tell a product's quality by looking at it.
3.Some companies are known to have the highest quality.

Front 5

Win Through High Market Share (important)

Back 5

Market share leaders make more money than their lamer competitors. They enjoy scale economies and higher brand recognition.
But many high market share leaders are not that profitable.

Front 6

Win Through Adaptation and Customization

Back 6

Many buyers will want the seller to modify his offering to contain special features or services they need.
ex. Fedex pick up its daily mail at 7 pm not 5pm.
ex. A hotel guest might want to rent a room for only part of the day.

But for many sellers, the cost may be too high to adapt the offering to each customer.

Front 7

Win Through Continuous Product Improvement

Back 7

Continuous product improvement is a sound strategy, especially if the company can lead the pack in product improvements.
But not all product.....
How much would customers pay if they are told about a better detergent...aharper razaorblade....etc

Front 8

Win Through Product Innovation

Back 8

Innovate or Evaporate.

Front 9

Win Through Entering High-Growth Markets

Back 9

Such as electronics, biotechnology, robotics and telecommunications.
But that products become obsolete very fast in these fast-growing industries, and each company must invest continually to keep up.

Front 10

Win Through Exceeding Customer Expectations

Back 10

a

Front 11

What Marketing challenges?
from many managers about today's customers.

Back 11

1.Customers are growing more sophisticated and price sensitive.
2.They are short of time and want more convenience.
3.They see growing product parity among the suppliers.
4.They are less manufacture brand sensitive and are more accepting of reseller brands and generics.
5.They have high service expectations.
6.They have decreasing supplier loyalty.

Front 12

How well their marketing tools are working from many managers.

Back 12

1.Their products are not much different from competitor's products.
2.They are giving away a lot of costly service and add-ons to get the sale.
3.Their pricing is readily matched by competitors.
4.Advertising is getting more expensive and less effective.
5.They are spending too much on sales promotion.
6.Sales force costs are rising.

Front 13

Branded goods manufactures challenge.

Back 13

1.Shrinking margins.
2.Rising sales and promotion costs
3.Growing retail power and shrinking shelf space
4.Competition from store brands and generics.
5.Increased niche attacks

Front 14

Store^based retailers challenges

Back 14

1.Shrinking margins.
2.Category killers.
3.Competition from catalogs, mail order, and other forms of nonstore shopping such as online shopping site.