Student Handbook The Alfred H. Heineken Chaired Professor of Marketing INSEAD Jean-Claude Larréché The Claude Janssen Chaired Professor of Business Administration and Professor of Marketing INSEAD Hubert Gatignon Partner, Director of R&D STRATX International Rémi Triolet To search this document click CTRL+F i Publisher: STRATX International Production: Minute Man Press, Cambridge, Massachusetts Cover Design: Synergy Network, Waltham, Massachusetts Marketing Manager: Lucy
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provide a company with many benefits that can expand knowledge of the company, its brand, and products and services it offers. A company decides how to market its web page by first figuring out how it will group itself based on do they provide a product or service to the customer or are they based on what the customer wants. Product-based marketing strategies arrange the products on the web page the same as the product design. Customer-based strategies lets the company think as if they were the customer
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growing profitable customers) Customer lifetime value is the value of the entire stream of purchases that the customer would make over a lifetime of patronage Share of customer is the portion of the customer’s purchasing that a company gets in its product categories Customer equity is the total combined customer lifetime values of all of the company’s customers The value proposition is the set of benefits or values a company promises to deliver to customers to satisfy their needs What steps should
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produce the BMW roundel. These colors where meant to represent the free state of Bavaria. The product range of BMW was expanded and soon it extended beyond engines for the aircraft industry to include motorcycles as broader sections of the population gained access to motorized transport. This was an area to which Popp devoted considerable attention. Under his chairmanship, BMW further expanded its product range
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of Springer Science+Business Media (www.springer.com) Foreword by Bayer CDs and DVDs, water bottles, sports eyewear, binoculars, helmets, storage boxes for food, car headlights, automotive roof glazing – these are just some of the everyday products that benefit from the unique properties of Makrolon®, a plastic manufactured by Bayer MaterialScience
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The marketer is responsible for selling the goods in the market so he must have the knowledge how the consumers actually make their buying decisions. For this he must study the consumer buying decision process or model. It involves five stages. 1.) Need recognition:- consumer buying decision process starts with need recognition. The marketer must recognize the needs of the consumer as well as how these needs can be satisfied. For example if a person is hungry then food is desired or if it is
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enjoy crispy chocolate. Additionally, surprised toys that comes with Kinder JOY are the second benefit that young consumer should feel interested in. Kinder JOY is not only an special chocolate which contains rich in milk and hazelnuts but this product is also made without artificial colours and preservatives so it is healthy and safe for consumers. Once purchasing Kinder JOY, consumer will get a random surprised toy which is colorful and attractive. Toys is packed into a half of the egg and comes
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discussions. Yet most debates in boardrooms focus on either product centricity (what are the strengths of our product and how do we make it relevant to consumers?) or competition centricity (how can we make our product look and feel better than the competition? ). While there is a focus on the customer’s view in such discussions, everything starts either from inside (our product) or from the world immediately outside us (other products). The customer exists only for us to make the sale to. Most customer
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SUBJECT: PRODUCT MANAGEMENT “A STUDY ON THE “VIRTUAL BRANDING”” | | | | | | | | | VIRTUAL BRANDING
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exchange, way to communicate w. eo * Not all marketing transactions involve exchange of money. Nonprofits use ads to bring in more donations Value: how customer views benefits of a product or service weighed against the cost of buying and cosuming it * Benefits can be functional, experiential, &/or psychological Marketing mix- Product, Place, Price, Promotion Integrated Marketing Communication (IMC)- coordinating various promotional elements and other marketing activities that communicate
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