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Trang 1 BÀI TẬP MARKETING MANAGEMENT: SẢN XUẤT – DÒNG SẢN PHẨM – KHÁI NIỆM TIẾP THỊ XÃ HỘI Explain the following:a Production conceptb Product line.c Augmented Productd Social marketing
BÀI TẬP MARKETING MANAGEMENT: SẢN XUẤT – DÒNG SẢN PHẨM – KHÁI NIỆM TIẾP THỊ XÃ HỘI Explain the following: (a) Production concept (b) Product line (c) Augmented Product (d) Social marketing concept Answer questions 1: a/Production concept: Economic standpoint: Manufacturing is the process of creating products and services that meet the needs of society Marketing standpoint: Manufacturing is activities in order to create value and benefits for customers which to achieve targets of profit for the businesses Thus, according to marketing standpoint, activities which do not bring value and benefit to customers are not considered to be the production (Philips Kotler Marketing book) * In essence, the manufacturing is the processes of transforming the inputs, then, changing them into the outputs under the form of products or services b/Product line: The product line is a series of the same products about the structure, function, shape, and characteristic that can be readily identified For example, computers have a lot of categories, so that customers are aware of the manufacturer Therefore, every company produces its own a certain product lines such as Dellx130, Sony, Acer5100, Hp 5600, Nokia x, y, z, iPhone 5S A group of related products manufactured by a single company.For example, a cosmetic company's makeup product line might include foundation, concealer, powder, blush, eyeliner, eyeshadow, mascara and lipstick products that are all closely related The same company might also offer more than one product line The cosmetic company might have a special product line geared toward teenagers and another line geared toward women older than 60, in addition to its regular product line,that can be used by women of any age Investopedia explains 'Product Line' A good way for a company to try to expand its business is by adding to its existing product line This is because people are more likely to purchase products from brands with which they are already familiar For example, a frozen pizza company may wanted to increase its market share by adding frozen breadsticks and frozen pastas to its product line c/Augmented Product Definition of 'Augmented Product' A commodity that has both the primary physical attributes and the non-physical attributes that are added to increase the product's value Non-physical attributes of an augmented product may include a product warranty, service or installation, and may increase the price of the basic product being purchased, and allow the company selling the good to provide the consumer with other services that may make using the product easier Investopedia explains 'Augmented Product' A consumer has a host of choices across a wide price range when purchasing this type of electronic In order to differentiate themselves from the competition, companies selling computers will augment the basic computer - the actual product - with warranties, customer service hotlines and other add-ons in order to make their products stand out The consumer then has the choice of buying a basic computer or an augmented product that has more bells and whistles A company's success in selling an augmented product is heavily dependent on consumer perception of the value the add-ons bring, which makes marketing the product very important d/Social marketing concept: According to Philip Kolter in 2002, there is a definition about social marketing It is said that social marketing is the use of the marketing principles and techniques in order to influence their target audience to accept, refuse, modify, or remove a certain voluntary action, which is useful for individuals, groups or society According to Alan Andreasen in 1995, there is a definition more academic It is said that Social marketing is the application of marketing techniques into business through the analysis, planning, implementation and evaluation of programs which are designed to influence the voluntary behavior of target groups in order to bring the greatness to them and society in which they are members According to Nedra Kline Weinreich in 1999, there is a simple definition of social marketing It is said that social marketing is the use of marketing techniques to encouragement about consensus about a certain behavior to improve health and happiness for every member in the society Questions 2: Explain difference in marketing concept, along with suitable examples Marketing is a good product is sold in convenient places for the right people to buy for a reasonable price.(Adcoketal) For example, a business enterprise which products branded goods brings its own goods to guests in rural areas having low income This activity of business enterprise proved that it does not understand about marketing It does not sell what the customer needs it just sells only what they have Marketing is the activity aimed towards to the satisfying of customer needs and wants through the processes of interaction exchange (Kotler1980) For example, that continuous improvement Activities in order to bring products to customers more benefits rather than old times is done in corporate marketing activities For example, EVN is equipped with electronic galvanometer for customers to be more favorable, not wasting of time for writing a monthly index; besides, it increases the confidence of customers towards EVN about the monthly amount of electricity That is marketing To achieve this, there must be surely from EVN staff that working in market research, customer research and effective marketing strategy Marketing is a task in the organizational structure and a set of processes in order to create, exchange, convey value to customers, and for managing customer relationships in different ways to bring the benefits to the organization and the members of the General Meeting of Shareholders (American Marketing Association - American Marketing Association, 2008) For example, Honda is always a pioneer in the introduction of new product lines, which is known the 2-wheel vehicles in Vietnam Honda has improved from designs, modern technology (Product), to cheaper price (Price) Furthermore, nowadays, people want to buy HONDA wherever in the city (Place) When talking to the 2-wheel vehicles, Vietnamese wants always referred to the name of HONDA SUZUKI whether it is or what other effects This evidence shows that Honda has done good job at promotion (Promotion) Eventually, what causes the development of HONDA today, surely everyone can understand Questions 3: Explain the market segmentation and suitable examples Businesses today realize that they can not attract all buyers in the market, or at least they can not coexist in a way that can attract all shoppers Buyers are too large in number and too scattered geographically, needs and buying their products too varied On the business side, the ability to meet the needs of the market they are also different because they differ in capacity and expertise So instead of spreading capacity to cater to the entire demand in the market, each enterprise should identify themselves part of the market (also known as a segment) that they have the ability to serve The best service, the most profitable Part markets that a business choose to compete is called the target segment Thus, we can say the target market segments in order to determine which market segment will now compete and do business segments will not competition Market segmentation is: Sort customers into groups (market segments) based on their motivation (purchase, select supply goods (products, services, ideas ) Sort into groups based on client needs (Strategic needs, unmet needs, unsatisfied needs of the body) and behavior (Behavioural segmentation) of them Sort customers into groups based on the determinants that they set out to (purchase of goods, supplies select products, services ) Segmentation process also requires workers to understand the market factors selected and preferred customer in the market, thereby discovering the basis of competitive advantage Market segmentation helps marketers see the opportunities in the job market through analysis of the needs of each customer group So we can offer the same products but have different uses, different packaging, different prices etc Market segmentation is the basis for marketers to identify, assess markets, helping to track market movements, to judge changes in the market in order to prepare for future market demands There are many possible ways to segment the market, based on many different grounds (anthropology, behavior, needs, habits, attitudes, purchase criteria, purchase process ) The work needs to identify the market segment criteria accordingly For example, in the automotive market, we can see that in the highest segment, it has Maybach, Rolls Royce, etc The next segment is the senior market such as Mercedes, BMW, and Audi, etc Then, the segment with medium - high level is Toyota, Honda, Ford Besides, the low segment includes Kia Motors, the low quality and perishable automaker from China Summary: Market segmentation or target marketing is the opposite concept of mass marketing and marketing various products The objective of market segmentation in marketing market is to divide it into smaller segments, easy identification in order to catch the demand and respond more effectively without any trouble Because resources of the company are limited, they cannot meet all markets; furthermore, every business has a different strength which is also a difference in comparison with the competition Hence, to effectively meet the needs of the market, businesses should segment the market, choose the target market in order to compete effectively and survive sustainably rivals Questions 4: “PLC as a tool for marketing strategy” justify A Product life – cycle Life cycle of the product (the typical product life - cycle, abbreviated as PLC) is a key concept of marketing.No help managers better understand the marketing campaign process and product variability on market dynamics and competition of rival approaches necessary for the business of the various stages of the product life cycle Product life cycle vivid description of the stages in the process of a real product Corresponding to these periods as opportunities and problems to be solved for marketing strategy and fertility profits Typical life cycle of a product sinusoidal and divided into four distinct phases: a About the product phase has been introduced in the market During this period sales growth slows, less profitable because the cost to much for the introduction of products to the market b Development stage products is receiving markets quickly and significantly increased profits C.Prolific period sales are slowing down, because the product is most acceptable prospect Profits stabilize or decrease due to increased marketing expenses to protect products against competitors d The decline stage sales tend to decline and diminishing returns The concept of life cycle can be expressed through the concept of product categories (gasoline car) type products (cars with roof unfinished), or label products (Mustang car) The shape of the product life cycle Type "development - a sudden drop-saturated" Type "cycle - the cycle repeats" PLC configuration wave form represents the sales of products that we go through a life cycle sequence for discovering the new features of the product, the new use or new users For example, there is a plastic life cycle of wavy, because it has more new uses such as umbrellas, socks, underwear, shirts, carpets detected over time B The marketing strategy according to the product life cycle In this section, we will examine the main characteristics of each stage in the life cycle of the product and marketing strategies corresponding to each time period a Introduction period This period begins when a new product was first sold in the market Introduce it takes some time so the increase in sales will be slowed.In this period, rates may be negative or very low because sales at the distribution costs and higher advertising At this stage, only a few competitors and they can produce the goods is essentially the same with new items for this market are not suitable for industrial innovation focus on product.Company concentrates on customers ready to buy one, usually the high-income customers Prices tend to be high because: high cost due to the relatively low yield; technical problems in production can still unfinished; should have high interest rates to offset large expenses advertising costs as necessary to achieve development " Rapid skimming strategy is the strategy of launching new products to market with initial high prices and high level of fans Enterprise features to ensure high rates of gross profit per unit of product at the highest level Rapid penetration strategy is the strategy of launching new products to the market with high-level supporters and initial low price, hoping to achieve rapid penetration rate and a large share of this strategy is only the most suitable This strategy should be applied when the major markets are huge and products not known Slow penetration strategy is the strategy of launching new products into the market with low initial price and low level fans Low prices will encourage consumers quickly accepted products, low cost shareholders to achieve higher net income b Developing period If a new product to meet the expectations of the market, sales will start increasing rapidly Those who respond early will continue to buy more, other customers will start buying follow, especially when they hear the praise that product These new competitors will enter the market penetration opportunity to find and produce high profits They will introduce additional products with new features, building more selling point, and this will make the market expanded The number of people increased competition also increases the retail hub of business and production have also shot up to provide full customer wishes Increase in profits during the development phase, when advertising costs are calculated on large volume, production costs per unit calculation is further reduced by "accumulated experience" Late stages of development, the level of increased slowly and businesses prepare new strategies for the next stage spikes During the development phase, enterprises can deploy a number of marketing strategies to prolong the rapid growth of the market c Prolific period Up to a certain point, an increase of product sales will slow down and enter the product relatively prolific period This stage usually lasts prolific than the previous stage, posing hardships for marketing executives Most products are in mature stage of the life cycle and nearly the entire job in marketing management are aimed at solving the problem of the product in that prolific period In the mature stage, firms often seek to eliminate weak products and focus resources on more profitable products, and sometimes disregard the enormous potential of existing old products themselves Marketers need to consider a system of market strategy, product and marketing improvements - mix -Market innovation Enterprises try to improve existing products consumed in two ways: increasing the number of people using the product and increase the use of each person - Product innovation The marketing managers can also innovation of product attributes such as quality, features, styling to attract new customers and get more use - Improved marketing mix The marketing managers can also stimulate sales by improving some elements of coordination of marketing (marketing – mix) -Price: Enterprises should consider the possibility of lower prices to attract new customers and customers of competing firms d Decline period After some time on the market, most of the products and brands will gradually reduce its sales The sales decline may be faster or slower, or stable at a low level for a long time, but basically no longer profitable as before It is an expression of the decay phase Sales may decline for many different reasons, such as technological innovation, changing customer preferences, competition is increasing It all led to surplus production capacity, increasing product prices down leading to the rapid decline of profits Summary: The different products have different life cycle stages of the life cycle have different length or short, consumption and profits in the different stages and different It also requires businesses to strategic marketing, financial, manufacturing, supply and multiply the difference in each stage of the life cycle of each product accordingly Questions 5: Explain process of selecting the final price When we develop a new product, and introduce into a market, we must setting the price as follows: +Identify the target market segment for the product or service +Establish the price range that would be acceptable to occupants of this segment +Examine the prices (and costs if possible) of potential or actual competitors +Examine the range of possible prices within different combinations of the marketing mix +Determine whether the product can be sold profitably at each price based upon anticipated sales levels +Maybe adjust something until costs are reduced sufficiently to produce the desired profit We could goes through the following steps in setting the price: a Selecting the pricing objective: The foremost step is identifying pricing objectives The clearer a firm’s objectives, the easier it is to set price What are pricing objectives? A company can pursue any of five major objectives through pricing: survival, maximum current profit, maximum market share, maximum market skimming, or product-quality b Determining demand: Each price will lead to a different level of demand and therefore have a different impact on a company’s marketing objectives In the normal case, demand and price are inversely related The customers usually are price-sensitive to products that cost a lot or are bought frequently? The process of estimating demand therefore leads to: -Estimating Price sensitivity of market -Estimating and analyzing demand curve -Determining price elasticity of demand c Estimating costs: Normally, we want to charge a price that covers its cost of producing, distribution and selling the product, including a fair return for its effort and risk As you know, a product’s cost take two forms, fixed and variable To price intelligently, management needs to know how its costs vary with different levels of production d Analyzing competitors’ costs, prices, and offers: Analyzing competitor’s costs, prices and offers is important factor in setting prices Within the range of possible prices determined by market demand and costs, we must take the competitor’s costs, prices and price reactions Be aware that competitors might even change their prices in response to your price e Selecting a pricing policy and method There are three pricing methods that can be employed: -Cost Oriented Pricing -Competitor Oriented Pricing -Marketing Oriented Pricing +Cost Oriented Pricing: Companies often use cost oriented pricing methods when setting prices Two methods are normally used: i) Full cost pricing, the company determines the direct and fixed costs for each unit of product The first problem with Full-cost pricing is that it leads to an increase in price This method focuses upon the internal costs of the company as opposed to the prospective customers’ willingness to pay ii) Marginal Cost Pricing - This involves the calculation of only those costs, which are likely to increase as output increases +Competitor Oriented Pricing: The company bases its price largely on competitors’ prices, with less attention paid to its own costs or to demand The firm might charge the same, more, or less than its major competitors The company may attempt to differentiate on delivery or service quality in an attempt to justify a higher selling price +Marketing Oriented Pricing: The price of a product should be set in line with the marketing strategy The danger is that if price is viewed in isolation (as would be the case with full cost pricing) with no reference to other marketing decisions such as positioning, strategic objectives, promotion, distribution and product benefits The way around this problem is to recognize that the pricing decision is dependent on other earlier decisions in the marketing planning process For new products, price will depend upon positioning, strategy, and for existing products price will be affected by strategic objectives f Selecting final price: Pricing methods narrow the range from which the company must select its final price In selecting that price, the company must consider additional factors, including psychological pricing, gain and risk pricing, the influence of other marketing -mix elements on price, company -pricing policies, and the impact of price on other parties REFERENCES - http://p5media.vn/marketing-hien-dai/marketing-mix/cac-chien-luoc-theo-chu-ky- song-cua-san-pham 12/05/2014 -http://www.investopedia.com/terms/p/product-line.asp 13/05/2014 -Web: http://isos.gov.vn -Thư viện Wikipedia -Tailieu.com - http://www.satra.hochiminhcity.gov.vn -Trang web: http://www.dulichy.com -investopedia.com 17/05/2014