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Session Outline
Guest Speaker Peter Gibson Break PVT Case Analysis Digging Deeper Module 5: Brief Overview - Business to Business Markets and Buying Behaviour Next Steps Applied Project Group Work Time
Curtin University is a trademark of Curtin University of Technology CRICOS Provider Code 00301J
Review of Module 4
1. Develop an understanding of how Consumers use products to help them define their identities in different settings. 2. Define Consumer Behaviour and identify the key elements related to CB 3. Understand why Marketers need to understand the wants and needs of different consumer segments. 4. Describe the consumer decision process 5. Gain an insight to the ways the Internet is changing consumer behavior.
Curtin University is a trademark of Curtin University of Technology CRICOS Provider Code 00301J
In each Module we encourage you to hunt out the latest news; explore the research and scan social media for whats new, whats important and what has piqued your interest on the topic of marketing
DIGGING DEEPER
Curtin University is a trademark of Curtin University of Technology CRICOS Provider Code 00301J
Source: http://thisweekin.com
Curtin University is a trademark of Curtin University of Technology CRICOS Provider Code 00301J
What were your top 3 concepts from the readings? Share these in class or online
Curtin University is a trademark of Curtin University of Technology CRICOS Provider Code 00301J
Company
Or organisation. What is our Strategic Purpose? Capabilities? Weaknesses?
Context
Whats going on in the macro environment?
Competitors Collaborators
Who do we work with? Who are our partners? Who are our current and potential competitors? Where are they placed in the market?
Marketing Objectives
Based on geographic, demographic, psychographic and/or behavioural factors Consider strategic fit; potential and defensibility against competition Differentiating the market offering to create superior customer value
Your place in the market space Core benefit proposition Unique selling proposition Positioning Statement
Capture Value
Communicate Value
Integrated Marketing Communications (including Promotion)
Deliver Value
Price
Placement Logistics
The MM555 Marketing Management Framework draws on a number of sources including Iacobucci Curtin University is a trademark of Curtin University(2013), of Technology CRICOS Codeand 00301J Armstrong et Provider al (2012) Gibbs (2009) and includes the key factors which need to be taken into account when developing a comprehensive marketing strategy.
Also relevant
Segmentation
Targeting
Differentiation
1. 2. 3. 4. 5.
Be able to distinguish among the various types of business markets Identify the major characteristics of business customers and transactions Understand several attributes of the demand for business products Become familiar with the major components of a buying centre Understand the stages of the business buying decision process and the factors that affect the process
Curtin University is a trademark of Curtin University of Technology CRICOS Provider Code 00301J
Producer Markets
Reseller Markets
Government Markets
Institutional Markets
Curtin University is a trademark of Curtin University of Technology CRICOS Provider Code 00301J
Producer Markets
Resellers
Government Markets
Institutional Markets
Curtin University is a trademark of Curtin University of Technology CRICOS Provider Code 00301J
Source: Pride,W., Ferrrell,O., Lukas,B.A., Schembri, S. and Nininen, O. 2012 Marketing Principles Asia Pacific Edition Cengage Learning Chapter 6. Data here drawn from the American Customer Satisfaction Index, http://www.theacsi.org
Curtin University is a trademark of Curtin University of Technology CRICOS Provider Code 00301J
Source: Pride,W., Ferrrell,O., Lukas,B.A., Schembri, S. and Nininen, O. 2012 Marketing Principles Asia Pacific Edition Cengage Learning Chapter 6.
Curtin University is a trademark of Curtin University of Technology CRICOS Provider Code 00301J
Decision maker
Manager
Buyer
Employee
User
Employee
Influencer
Management consultant
Gatekeeper
Information
Decision maker
purchase decision vendor selection
Buyer
Purchase Price negotiations,
User
suggestions for
Influencer
criteria
collection
comparison of offers decision-making
purchase
assessment after the
preparation
purchase (qualitatively)
Consider Who are the major decision participants? What decisions do they influence? What is their level of influence? What evaluation criteria do they use?
Curtin University is a trademark of Curtin University of Technology CRICOS Provider Code 00301J
Curtin University is a trademark of Curtin University of Technology CRICOS Provider Code 00301J
Textbook Resource: Kotler, Keller, Burton: Marketing Management 2009 Pearson Education Australia
Curtin University is a trademark of Curtin University of Technology CRICOS Provider Code 00301J
Next Steps
Review Module 6 Materials Complete the required readings Applied Project Optional: Situation Analysis Draft Due Mon 25 Feb Working on Assignment 2 Clocky Case Study Watch for Announcements Dont forget to Dig Deeper!
Curtin University is a trademark of Curtin University of Technology CRICOS Provider Code 00301J