reka enterprises

7/30/2019 REKA Enterprises

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TERMS

MARKETING: the process ofplanning and executing the conception,

pricing, promotion, and distribution ofideas, goods, and services to createexchanges that satisfy individual and

organizational objectives (AMAdefinition)


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TERMS

NEEDS: state of deprivation of somebasic satisfaction

WANTS: desires for specific satisfiersof needs

DEMANDS: wants for specific productsthat are backed by an ability and

willingness to buy them - wants backedby purchasing power


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MARKETS

MARKET: set of all actual and potentialcustomers sharing a need or want who

might be willing and able to engage inexchange to satisfy that need or want

SEGMENTATION: process of identifying

smaller markets (groups) of buyers thathave certain identifiable homogeneouscharacteristics


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MARKETS

TARGET MARKET: the market segment(s)toward which the seller decides to focus themarketing effort

POSITIONING: the act of designing thecompanys offering and image so that theyoccupy a meaningful and distinct competitive

position in the target customers minds


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Transition

What is a commodity?

What is a brand?

"A commodity is some good (or service)for which there is demand, but which issupplied without qualitative

differentiation across a market


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What is this thing called VALUE?

Perceived value has been defined as"the consumer's overall assessment of

the utility of a product based onperceptions of what is received andwhat is given" (Zeithaml, 1988, p.

14).


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What is REKACEM value?

Where is value coming from?


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What is this thing called CUSTOMERVALUE?

VALUE: customers estimate of theproducts overall capacity to satisfy

his or her needs -perceivedbenefitsminusperceived costs


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Reka Enterprises

Criteria

Segment base: Measurable, Actionable

Segment Choice: Size, adequate

Ease of Reaching

Brand loyalty / Openers to new brand

Match with firms resources / goals

Suitability to segment

Competitive Retaliation?


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Tactical Questions

Should it continue the incentive?

Is there growth potential?

Where are the alternative growthareas?


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New Launch SUCCESS!!!

Product Product characteristics Unique positioning

Order of entry

Marketing Level/Type of ad

Store promotion

Price and Price deals

Market Conditions Market size

Market growth

Level of competitiveness Level/type of competitive activities

Firm Characteristics Current market share

Channel power

Organizational strengthSource: Kathira, Muzuno, and Wind (working paper) https://marketing.wharton.upenn.edu/files/?whdmsaction=public:main.file&fileID=1889


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Marketing Mix

Product mix, brand, packaging, design

Price(discounts, bundles)

Promotion/Communication advertising, selling, promo, pr

Place/Distribution channels, physical movement


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Veblen Effect

Thorstein Veblen (1899) contendedthat individuals often consume

highly conspicuous goods and servicesin order to demonstrate their wealth,and thus attaining greater social

status.


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Wall Street Journal

A BMW in every driveway might thrillinvestors in the short run but

ultimately could dissipate the prestigethat lures buyers to these luxury cars

reka enterprises

Documents