Marketing Planning Dewan Sakila Nabi

Task 3.4
Price maker Price taker

Dimensions of price
Premium Toll Deposit Tax Interest Fare Fine

Pricing Methods
Cost based pricing Cost = Fixed Cost + Variable Cost Variable Cost = Unit Price Quantity Market oriented pricing What customer will pay actually rather than the company allocated price.

 Factors affecting pricing decisions Company objective, costs, marketing mix, pricing strategy, buyers perception, competition, regulatory issues etc.

Buyers Readiness Stages

Awareness (Communication about brand/ product) Knowledge (focused issue) Liking (good feel) Preference (depends on quality, performance, special features) Conviction (gaining commitment) Purchase (low, trial, premium)

Elements of promotional mix

Advertising Personal Selling Sales Promotion Public Relations

Media vehicle
Magazines TV Newspapers Radio Channels Cinemas Billboards Web Sites

Elements in the communication Process

1. Retaining existing customers (personal contract, telemarketing, direct mail) 2. Sell more to existing customers (personal contract, direct marketing, promotions, telemarketing) 3. Regain lost customers (personal contract, sponsorships, exhibition, promotions, telemarketing, public relations)

4. Attract new customers (advertising, sponsorships, exhibition, public relations)

Barriers
Strategy Implementation Good Success Roulette Appropriate Inappropriate

Bad

Trouble

Failure

FACTORS OF IMPLEMENTATION
IMPLEMENTATION OBJECTIVE DEFINE OBJECTIVE STRATEGY EXECUTION EVALUATION

EXECUTION
SKILLS PERSUASION NEGOTIATION POLITICAL SKILL TACTICS PERSUASION NEGOTIATION POLITICAL TIME

Assessing System

Goal
What do we want to achieve

Performance Measurement What is happening

Performance Diagnosis Why is it happening

Corrective Action What should we do about it

Marketing Plan
Clearly defines target customers and their needs
Periodical Review

Creates a

competitive
advantage

Core plan
STRATEGY
Resource and managerially supportable Incurs acceptable risk