What are some core marketing concepts
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McDonald's hamburgers are known for their cleanliness, convenience and courteous service as represented by their golden arches symbol. A company's marketing involves a consumer's judgement of its product and all potential rival offerings that buyers might consider. Marketing also involves a company's suppliers, distributors, dealers and target customers within various demographic, economic, social, cultural, natural, technological and political-legal environments.
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2. What is Aquatred ? It is a new tire providing improved driving traction under wet conditions
3. Major Tire Industries in U.S
4. Three major changes in US Tire Industry
5. Emergence of RADIAL tires to replace older “bias” and “bias-belted” tires. Between 1971-91 radial’s share of unit sales increased from 32% to 95%.
6. Increased in foreign competition
7. Change in nature of demand from consumers and car makers.
8. FOUR major impacts of these changes
9. Demand for the passenger tires grew sluggishly
10. New tires in the U.S market declined
11. Tires producing capacity outstripped demand Tire making capacity rose 12% and capacity utilization fell from 87% to 76%
12. Industry difficult economic conditions, coupled with the tire manufacturer slow response resulted in a number of mergers and acquisitions
13. In, 1991 company operated 41 plants in U.S, 43 plants in other 25 countries and 6 rubber plantations Known as “THE GORILLA” in world tire industry
14. Goodyear ranked third in worldwide sales of new tires
15. In 1977, company introduced the TIEMPO, first all season radial their unit sales grew from 2% to 71%
16. In 1981, company successfully launched the EAGLE
17. Market for Passenger Tires could be segmented in three ways
18. Distinction between Performance and Broad-line tires Performance Tires Broad-line Tires
19. Market can be also segmented on Replacement and OEM tires Replacement tires sold directly to the individual consumers OEM tires were sold to the car manufacturers
20. In 1986, Sir James Goldsmith attempt to takeover Goodyear greatly increased their debt. Their earnings were sluggish despite spending $1 million per day on investments.
21. Third segmentation was along brand classification It includes major brands, minor brands and private labels
22. Most consumers viewed tires as a “grudge purchase” An expensive necessity to keep vehicle in driving condition
23. Five important tire attributes 1)Tread life 2)Wet traction 3)Handling 4)Snow traction 5)Dry traction
24. Criteria for selecting Tire Retailer 1)Price 2)Offers fast service 3)Can trust personnel 4)Store is attractive 5)Offers mileage warranty 6)Brand selection 7)Maintains convenient hours
25. CONSUMER SEGMENTS
26. Price constrained buyer
27. Value oriented buyer
28. Quality buyers
29. Commodity buyers
30. Wholesale distribution channels
31. Retail distribution channels
32. Goodyear Distribution Structure 4,400 independent dealers accounted for 50% of sales revenue, 1,047 manufactured owned outlets generated 27% and the 600 franchised dealers for 8% and remaining 15% were to government agencies
33. Just Tires was a new retail format under test by Goodyear
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Sales promotion decision making involves establishing objectives, selecting appropriate tools, developing programs, and evaluating results. Objectives may target consumers, retailers, or salesforce. Tools include consumer incentives like coupons, samples, and premiums or trade incentives like price discounts and free goods. Programs for consumers use tools tailored to market type and objectives, while trade programs focus on price discounts and allowances. Business promotions utilize trade shows, sales contests, and specialty advertising. Effective implementation and evaluation are also important.What are some core marketing concepts
- 14. All the actual and potential rival offerings and substitute a buyer might consider.
- 15. Company, Suppliers, Distributors, Dealers, and Target customers. Demographic, Economic, Social-cultural, Natural, Technological, and Political-legal.
- 16. Credits: Based on Chapter 1 of 'Marketing Management' by Kotler Keller Images from: blogspot.com www.go2markets.com www.elegantthemes.com www.dreamstime.com visual.ly cliparts.co www.dreamstime.com