Marketing 360 At a Glance Professor Joel Huber

Marketing 360 At a Glance Professor Joel Huber BA 360 Marketing Management Fuqua School of Business Marketing 360 At a Glance– 1

Goals of the course • Orientation – – Customer, company, competition • Skills – Case analysis, group effectiveness • Frameworks – Analysis, planning and implementation Marketing 360 At a Glance– 2

Why these are important? • WSJ September 9, 2002 Three most important criteria for employers by recruiters at business schools: – Communication and interpersonal skills – Ability to work well in a team – Analytic and problem solving skills Marketing 360 At a Glance– 3

Case learning • Learn to structure an unstructured problem • Learn to structure an unstructured team • Lean to think laterally—try different options and discard if they do not work • Learn to invert your analysis—put the plan first even though it generally is developed last Marketing 360 At a Glance– 4

Marketing math— back of the envelope Variable costs Fixed Costs Annual break even Project Pay Back Market Shares Needed market Share Idea: Find simple, compelling ways to summarize and think about the problem Marketing 360 At a Glance– 5

Marketing Math--Spreadsheets • Spreadsheets allow complex, realistic assumptions • They permit a clear vision the future • Key ideas: – Keep assumptions simple, conservative – Develop aggregate statistics from the complex analysis—e. g. 500 K credit cards needed to break even for Citibank Marketing 360 At a Glance– 6

Tools and frameworks: 3 C’s • Company – SWOT – Market selection • BCG, GE Matrix – Marketing Plan Marketing 360 At a Glance– 7

Tools and Frameworks: 3 C’s • Customer – Value in use of your product – Lifetime value of a customer • margins, retention rates, # of customers – Buying process model • Who buys vs. who uses • Innovators vs. followers – Segmentation Marketing 360 At a Glance– 8

Tools and frameworks: 4 P’s • Product – Defining the product • • Core benefit—essence Physical characteristics Perceived attributes Extended product – Product life cycle analysis – Product line analysis • Cannibalization • Impact on competition Marketing 360 At a Glance– 9

Tools and frameworks: 4 P’s • Price – Common tools are often flawed (e. g. , cost plus) – 7 Better steps to pricing • Economic value, elasticity based, competitive considerations • Segment based pricing (across persons and channels) • Psychological factors to consider Marketing 360 At a Glance– 10

Tools and frameworks: 4 P’s • Promotion – Promotional mix • Sales, advertising, sales promotion, p. r. – The promotional plan • • Target market Objectives Message Mix Budget Results Process Marketing 360 At a Glance– 11

Tools and frameworks: 4 P’s • Distribution – Channel may be more efficient than vertical integration (channel functions) – Breadth and depth of channels – Managing channel conflict Marketing 360 At a Glance– 12

Orientation and attitude • Marketing should be the eyes and ears of the firm, enabling it to look outward, adapt to new customer needs, competitors’ actions and company competencies • Analysis works, hard work matters, you make a difference Marketing 360 At a Glance– 13

Marketing is fun! Marketing 360 At a Glance– 14