Friends University Marketing Strategies Reflection Paper Hi there guys, really simple and easy one. I just need a reflection paper (1 page only) APA Forma

Friends University Marketing Strategies Reflection Paper Hi there guys, really simple and easy one.

I just need a reflection paper (1 page only) APA Format 250-300 words, based on the readings that we will have each week (attached in PowerPoint are the chapters 17-19 that we must be reading), how it reflect on your (in this case mine) personal earning process—challenges, moments of discovery, life experiences, readings, and interactions.

If you have any concerns, In the Word document (attached) is what I need exactly.

Please don’t hesitate to ask if you guys have any questions.

Thank you guys Chapter
17
Designing
And Managing
Integrated Marketing
Channels
Copyright © 2016 Pearson Education, Inc.
17-1
Learning Objectives
1.
What is a marketing channel system and value
network?
2.
What work do marketing channels perform?
3.
How should channels be designed?
4.
What decisions do companies face in managing
their channels?
5.
How should companies integrate channels?
Copyright © 2016 Pearson Education, Inc.
17-2
Learning Objectives
6.
What are the key channel issues in e-commerce?
7.
What are the key channel issues in m-commerce?
8.
How should companies manage channel conflict?
Copyright © 2016 Pearson Education, Inc.
17-3
Marketing Channels
and Value Networks
• Marketing channels
– Sets of interdependent
organizations participating
in the process of making a
product or service
available for use or
consumption
– Intermediaries:
merchants, agents, and
facilitators
Copyright © 2016 Pearson Education, Inc.
17-4
Marketing Channels
and Value Networks
• A marketing channel system
– The particular set of marketing channels a
firm employs
– Push vs. pull strategy
Copyright © 2016 Pearson Education, Inc.
17-5
Marketing Channels
and Value Networks
• Multichannel marketing
– Using two or more
marketing channels to
reach customer segments
in one market area
– Omnichannel marketing
– Integrated marketing
channel system
Copyright © 2016 Pearson Education, Inc.
17-6
Figure 17.1
The Hybrid Grid
Copyright © 2016 Pearson Education, Inc.
17-7
Marketing Channels
and Value Networks
• Value network
– A system of partnerships and alliances that a
firm creates to source, augment, and deliver
its offerings
– Demand chain planning
Copyright © 2016 Pearson Education, Inc.
17-8
Marketing Channels
and Value Networks
• The digital channels
revolution
– Customer support in
store/online/phone
– Check online for product
availability at local stores
– Order product online to
pick up at store
– Return a product
purchased online to a
nearby store
Copyright © 2016 Pearson Education, Inc.
17-9
The Role of
Marketing Channels
• Channel functions and flows
Copyright © 2016 Pearson Education, Inc.
17-10
Figure 17.2
Marketing Flows For Forklift Trucks
Copyright © 2016 Pearson Education, Inc.
17-11
The Role of
Marketing Channels
• Channel levels
– Zero-level channel
(direct)
– One/two/three-level
channels
(intermediaries)
– Reverse-flow channels
• Service sector channels
Copyright © 2016 Pearson Education, Inc.
17-12
Figure 17.3
Consumer/Industrial Marketing Channels
Copyright © 2016 Pearson Education, Inc.
17-13
Channel-Design Decisions
• Analyzing customer needs and wants
✓ Desired lot size
✓ Waiting and delivery time
✓ Spatial convenience
✓ Product variety
✓ Service backup
Copyright © 2016 Pearson Education, Inc.
17-14
Channel-Design Decisions
• Establishing objectives and constraints
Copyright © 2016 Pearson Education, Inc.
17-15
Channel-Design Decisions
• Identifying major channel alternatives
Types of intermediaries
Number of intermediaries
Terms/responsibilities of
channel members
Copyright © 2016 Pearson Education, Inc.
17-16
Identifying major channel
alternatives
• Number of
intermediaries
– Exclusive
distribution
– Selective
distribution
– Intensive
distribution
Copyright © 2016 Pearson Education, Inc.
17-17
Identifying Major Channel
Alternatives
• Terms and responsibilities of channel
members
✓ Price policy
✓ Conditions of sale
✓ Distributors’ territorial rights
✓ Mutual services and responsibilities
Copyright © 2016 Pearson Education, Inc.
17-18
Channel-Design Decisions
• Evaluating major channel alternatives
– Economic criteria
– Control and adaptive criteria
Copyright © 2016 Pearson Education, Inc.
17-19
Figure 17.5
Break-Even For Sales Force
vs. Sales Agency
Copyright © 2016 Pearson Education, Inc.
17-20
Channel-Management Decisions
Selecting
channel
members
Training
channel
members
Evaluating
channel
members
Global channel
considerations
Channel
modification
decisions
Modifying
channel
design
Copyright © 2016 Pearson Education, Inc.
17-21
Training and Motivating Channel
Members
• Channel power
Coercive
Reward
Legitimate
Expert
Referent
Copyright © 2016 Pearson Education, Inc.
17-22
Training and Motivating Channel
Members
• Channel partnerships
and ECR practices
– Demand-side
management
– Supply-side
management
– Enablers and
integrators
Copyright © 2016 Pearson Education, Inc.
17-23
Channel Integration and Systems
• Conventional
marketing channel
• Vertical marketing
systems
• Horizontal marketing
systems
Copyright © 2016 Pearson Education, Inc.
17-24
Vertical
Marketing Systems
• Corporate VMS
• Administered VMS
• Contractual VMS
– Wholesaler-sponsored voluntary chains
– Retailer cooperatives
– Franchise organizations
• New competition in retailing
Copyright © 2016 Pearson Education, Inc.
17-25
E-Commerce
Marketing Practices
• E-commerce
– Uses a Web site to transact or facilitate the
sale of products and services online
• Pure-click vs. brick-and-click companies
Copyright © 2016 Pearson Education, Inc.
17-26
M-Commerce
Marketing Practices
• Mobile channels and media can keep
consumers as connected and interacting with
a brand as they choose
– Advertising and promotion
– Geofencing
• Privacy issues
Copyright © 2016 Pearson Education, Inc.
17-27
Conflict, Cooperation,
and Competition
• Channel conflict
– Generated when one channel member’s
actions prevent another channel member from
achieving its goal
• Channel coordination
– Occurs when channel members are brought
together to advance the goals of the channel
instead of their own potentially incompatible
goals
Copyright © 2016 Pearson Education, Inc.
17-28
Conflict, Cooperation,
and Competition
• Types of conflict and competition
Horizontal channel conflict
Vertical channel conflict
Multichannel conflict
Copyright © 2016 Pearson Education, Inc.
17-29
Conflict, Cooperation,
and Competition
• Causes of channel conflict
✓ Goal incompatibility
✓ Unclear roles and rights
✓ Differences in perception
✓ Intermediaries’ dependence on
manufacturer
Copyright © 2016 Pearson Education, Inc.
17-30
Conflict, Cooperation,
and Competition
Copyright © 2016 Pearson Education, Inc.
17-31
Conflict, Cooperation,
and Competition
• Dilution and cannibalization
– Marketers must be careful not to dilute their
brands through inappropriate channels
• Legal and ethical issues in channel relations
– Exclusive dealing/territories, tying
agreements, and dealers’ rights
Copyright © 2016 Pearson Education, Inc.
17-32
Copyright © 2016 Pearson Education, Inc.
17-33
Chapter
18
Managing Retailing,
Wholesaling,
and Logistics
Copyright © 2016 Pearson Education, Inc.
18-1
Learning Objectives
1.
2.
3.
What major types of marketing intermediaries occupy this
sector?
What major changes are occurring in the modern retail
marketing environment with respect to competitive market
structure and technology?
What marketing decisions do marketing intermediaries
make?
4.
What does the future hold for private label brands?
5.
What are some of the important issues in wholesaling??
6.
What are some important issues in logistics?
Copyright © 2016 Pearson Education, Inc.
18-2
Retailing
• Retailing
– All the activities in selling
goods or services directly to
final consumers for personal,
nonbusiness use
• Retailer/retail store
– Any business enterprise
whose sales volume comes
primarily from retailing
Copyright © 2016 Pearson Education, Inc.
18-3
Types of retailers
• Store retailers, nonstore retailers, and retail
organizations
Copyright © 2016 Pearson Education, Inc.
18-4
Types of retailers
• Store retailers:
•
•
•
•
•
Specialty store
Department store
Supermarket
Convenience store
Drug store
• Discount store
• Extreme value or harddiscount store
• Off-price retailer
• Superstore
• Catalog showroom
Copyright © 2016 Pearson Education, Inc.
18-5
Types of retailers
• Levels of service for store retailers
✓ Self-service
✓ Self-selection
✓ Limited service
✓ Full service
Copyright © 2016 Pearson Education, Inc.
18-6
Types of retailers
• Nonstore retailing
– Direct marketing
– Direct selling
– Automatic vending
– Buying services
Copyright © 2016 Pearson Education, Inc.
18-7
Types of retailers
• Corporate retailing and franchising
Copyright © 2016 Pearson Education, Inc.
18-8
Corporate Retailing and
Franchising
• Franchises are distinguished by three
characteristics:
– The franchisor owns a trade or service mark
and licenses it to franchisees in return for
royalty payments
– The franchisee pays for the right to be part of
the system
– The franchisor provides its franchisees with a
system for doing business
Copyright © 2016 Pearson Education, Inc.
18-9
The Modern Retail Marketing
Environment
• Competitive retail market structure
✓ New retail forms and combinations
✓ Growth of giant retailers
✓ Growth of intertype competition
✓ Emergence of fast retailing
✓ Decline of middle-market retailers
Copyright © 2016 Pearson Education, Inc.
18-10
The Modern Retail Marketing
Environment
• Role of technology
– Retailers use
technology for
business
operations, to
enhance the
consumer shopping
experience inside
the store, and
Internet/social
Copyright © 2016 Pearson Education, Inc.
media strategies
18-11
Marketing Decisions
•
•
•
•
•
Target market
Channels
Product assortment
Procurement
Prices
• Services
• Store atmosphere
• Store activities and
experiences
• Communications
• Location
Copyright © 2016 Pearson Education, Inc.
18-12
Product Assortment
• Develop product differentiation
✓ Feature exclusive national brands
✓ Feature private-label merchandise
✓ Feature distinctive-merchandise events
✓ Feature ever-changing merchandise
✓ Feature the latest merchandise first
✓ Offer merchandise-customizing services
✓ Offer a highly targeted assortment
Copyright © 2016 Pearson Education, Inc.
18-13
Services
• Retailers must decide on the services mix to
offer customers:
Prepurchase services
Postpurchase services
Ancillary services
Copyright © 2016 Pearson Education, Inc.
18-14
Location
Central
business
districts
Regional
shopping
centers
Community
shopping
centers
Stand-alone
stores
Location within
a larger store
Shopping
strips
Copyright © 2016 Pearson Education, Inc.
18-15
Private Labels
• A private-label brand is a brand that retailers
and wholesalers develop
– Role of private labels
– Private-label success factors
Copyright © 2016 Pearson Education, Inc.
18-16
Wholesaling
• Wholesaling includes
all the activities in
selling goods or
services to those
who buy for resale
or business use
Copyright © 2016 Pearson Education, Inc.
18-17
Major wholesaler types
Merchant
wholesalers
Full-service
wholesalers
Limitedservice
wholesalers
Specialized
wholesalers
Manufacturers’/
retailers’
branches/offices
Brokers and
agents
Copyright © 2016 Pearson Education, Inc.
18-18
Wholesaler functions
• Selling and promoting
• Buying and
assortment building
• Bulk breaking
• Warehousing
•
•
•
•
•
Transportation
Financing
Risk bearing
Market information
Management services
and counseling
Copyright © 2016 Pearson Education, Inc.
18-19
Market Logistics
• Supply chain
management (SCM)
• Market logistics
• Integrated logistics
systems (ILS)
• Lean manufacturing
Copyright © 2016 Pearson Education, Inc.
18-20
Market logistics planning
1. Deciding on company’s value
proposition
2. Selecting best channel design and
network strategy
3. Developing operational excellence
4. Implementing solution
Copyright © 2016 Pearson Education, Inc.
18-21
Market-Logistics Decisions
• Order processing: how should we handle
orders?
• Warehousing: where should we locate our
stock?
• Inventory: how much stock should we hold?
• Transportation: how should we ship goods?
Copyright © 2016 Pearson Education, Inc.
18-22
Figure 18.1
Optimal Ordering Quantity
Copyright © 2016 Pearson Education, Inc.
18-23
Transportation
• Containerization
– Piggyback,
fishyback,
trainship, and
airtruck
• Private vs. contract
vs. common carriers
Copyright © 2016 Pearson Education, Inc.
18-24
Copyright © 2016 Pearson Education, Inc.
18-25
Chapter
19
Designing and
Managing Integrated
Marketing
Communications
Copyright © 2016 Pearson Education, Inc.
18-1
Learning Objectives
1.
What is the role of marketing communications?
2.
What is the marketing communications mix?
3.
How do marketing communications work?
4.
What are the major steps in developing effective
communications?
5.
How should the communications mix be set and
evaluated?
6.
What is an integrated marketing communications
program?
Copyright © 2016 Pearson Education, Inc.
18-2
The Role of Marketing
Communications
• Marketing communications
– The means by which firms attempt to inform,
persuade, and remind consumers about the
products and brands they sell
Copyright © 2016 Pearson Education, Inc.
18-3
Marketing Communications Mix
• Advertising
• Sales promotion
• Events and
experiences
• Public relations and
publicity
• Online and social
media marketing
• Mobile marketing
• Direct and database
marketing
• Personal selling
Copyright © 2016 Pearson Education, Inc.
18-4
Common Communication
Platforms
Copyright © 2016 Pearson Education, Inc.
18-5
How Does Marketing
Communications Work?
• The communications
process models
– Macromodel of the
communications
process
– Micromodel of
consumer responses
Copyright © 2016 Pearson Education, Inc.
18-6
Figure 19.1
Elements in Communications Process
Copyright © 2016 Pearson Education, Inc.
18-7
Figure 19.2
Response Hierarchy Models
Copyright © 2016 Pearson Education, Inc.
18-8
Micromodel of Consumer
Responses
• With an ideal ad campaign:
1. The right consumer is exposed to the message at
the right place and time
2. The ad causes the consumer to pay attention
3. The ad reflects consumer’s level of understanding of
brand
4. The ad positions points-of-difference and points-ofparity
5. The ad motivates consumers to consider purchase
6. The ad creates strong brand associations
Copyright © 2016 Pearson Education, Inc.
18-9
Developing Effective
Communications
Copyright © 2016 Pearson Education, Inc.
18-10
Developing Effective
Communications
• Identify the target audience
• Set the communications
objectives
– Establish need for category
– Build brand awareness
– Build brand attitude
– Influence brand purchase
intention
Copyright © 2016 Pearson Education, Inc.
18-11
Developing Effective
Communications
• Design the Communications
Message strategy
Creative strategy
Message source
Copyright © 2016 Pearson Education, Inc.
18-12
Creative Strategy
• Informational appeals
– One-sided vs. two-sided arguments
• Transformational appeals
– Negative/fear vs. positive appeals
Copyright © 2016 Pearson Education, Inc.
18-13
Message source
• Messages delivered by attractive or popular
sources can achieve higher attention and
recall
Copyright © 2016 Pearson Education, Inc.
18-14
Developing Effective
Communications
• Select the communications channels
– Personal communications
– Nonpersonal channels
Copyright © 2016 Pearson Education, Inc.
18-15
Establish the Marketing
Communications Budget
• Affordable method
• Percentage-of-sales
method
• Competitive-parity
method
• Objective-and-task
method
Copyright © 2016 Pearson Education, Inc.
18-16
Objective-and-Task Method
✓ Establish market share goal
✓ Select % of market reached by advertising
✓ Estimate % of prospects who should try brand
✓ Calculate ad impressions per 1% trial rate
✓ Find gross rating points to be purchased
✓ Calculate budget for cost of gross rating point
Copyright © 2016 Pearson Education, Inc.
18-17
Selecting the Marketing
Communications Mix
•
•
•
•
•
•
•
•
Advertising
Sales promotion
Events and experiences
Public relations and publicity
Online and social media marketing
Mobile marketing
Direct and database marketing
Sales force
Copyright © 2016 Pearson Education, Inc.
18-18
Marketing Communications Mix
Characteristics
• Advertising
– Pervasiveness
– Amplified expressiveness
– Control
• Sales Promotion
– Ability to be attentiongetting
– Incentive
– Invitation
Copyright © 2016 Pearson Education, Inc.
18-19
Marketing Communications Mix
Characteristics
• Events and experiences
– Relevant
– Engaging
– Implicit
• Public relations and publicity
– High credibility
– Ability to reach hard-to-find buyers
– Dramatization
Copyright © 2016 Pearson Education, Inc.
18-20
Marketing Communications Mix
Characteristics
• Online and social media marketing
– Rich
– Interactive
– Up to date
• Mobile marketing
– Timely
– Influential
– Pervasive
Copyright © 2016 Pearson Education, Inc.
18-21
Marketing Communications Mix
Characteristics
• Direct and database marketing
– Personal
– Proactive
– Complementary
• Personal selling
– Customized
– Relationship-oriented
– Response-oriented
Copyright © 2016 Pearson Education, Inc.
18-22
Setting the Marketing
Communications Mix
• Type of product market
– Consumer vs. business
marketers
– Advertising/sales
promotion vs. personal
selling
• Product life-cycle stage
Copyright © 2016 Pearson Education, Inc.
18-23
Setting the Marketing
Communications Mix
• Buyer-readiness stage
Copyright © 2016 Pearson Education, Inc.
18-24
Measuring Communication Results
Copyright © 2016 Pearson Education, Inc.
18-25
Managing Integrated Marketing
Communications
• Integrated marketing communications (IMC)
– “A planning process designed to assure that
all brand contacts received by a customer or
prospect for a product, service, or
organization are relevant to that person and
consistent over time”
Copyright © 2016 Pearson Education, Inc.
18-26
Managing Integrated Marketing
Communications
• Coordinating media & implementing IMC
Coverage
Contribution
Commonality
Cost
Conformability
Complementarity
Copyright © 2016 Pearson Education, Inc.
18-27
Copyright © 2016 Pearson Education, Inc.
18-28

Purchase answer to see full
attachment