Marketing 11 - Marketing Strategies

PRESCRIBED LEARNING OUTCOMES

It is expected that students will:

• create and justify a marketing strategy for a specific target market
• describe the various stages of consumer decision making and explain how marketing strategies influence each stage
• apply various marketing strategies to solve business problems
• design marketing strategies for each stage in a product's life cycle
• describe how cultural values influence and are influenced by various marketing strategies
• analyse the impact of information and communications technology on the strategies businesses use to market their products and services

SUGGESTED INSTRUCTIONAL STRATEGIES

• Ask students to draw from personal experience (e.g., purchasing CDs) to identify critical stages in consumer decision making. Then ask them to analyse how marketing strategies (e.g., branding, packaging, price) influence their responses at each stage of a decision to buy a music recording.
• Invite a business person to the class to describe the marketing strategies his or her company uses to promote a product or service at various stages of its life cycle. Have each student choose a product and design marketing strategies for different stages in its life cycle.
• Have students use magazine ads and other sources of information to explore business problems such as the imitation of patent medicine packaging. Ask them to describe any marketing strategies companies use to deal with such problems. Then challenge students in groups to design appropriate marketing strategies to overcome given business problems.
• Suggest that students research established products or services to determine how changes have affected their life cycles. Have the class prepare a display on marketing techniques that can influence the life of a product.
• Ask students to locate information that describes personal selling techniques in a variety of cultures and to share it with classmates. Have them list the cultures and techniques they found and discuss personal selling as a marketing strategy and how it is influenced by cultural values.
• Have students investigate and report on marketing strategies used on the Internet.

SUGGESTED ASSESSMENT STRATEGIES

• Have students develop pricing strategies for a given product that will not only ensure profitability but will also recognize competition and consumer perceptions. As they present their strategies, note the extent to which they:
  • recognize the role of pricing in influencing consumer perceptions about the product
  • describe the role of pricing in sales and profits
  • relate price to other marketing-mix elements (e.g., product, place, promotion)
• Form groups and ask each to select a recent fad or fashion product, trace its life cycle, and suggest the best marketing strategies for each stage (including strategies to extend the product's life). As students work, note evidence that they:
  • recognize marketing efforts appropriate for each stage of a product's life cycle (introduction, growth, maturity, decline)
  • relate consumer buying decisions to product life cycle
  • suggest marketing strategies to extend the product life (e.g., increasing use, adding new users, finding new uses, adjusting product packaging)
• Invite each student to find a product of interest for sale on the Internet and contrast the effectiveness of web site advertising with other strategies used to market the product. Review their analyses and note the extent to which students recognize the impact of technology on marketing. Note also that they recognize the advantages and disadvantages associated with different marketing strategies in terms of cost, security for payment, distribution, packaging, and accessing the target market.

• Advertising & Marketing Checklists, Second Edition
• Contemporary Marketing Plus, Eighth Edition
• Marketing Today: A Retail Focus, Second Edition
• Media Messages: Using Video, Print, Radio and Mixed Media

• The Advantage: Service Quality
• Doc Martens
• Marketing Products and Services
• Marketing Services
• Promotional Strategy for Small Business
• Retail Realities
• Secrets of Selling: How Stores Turn Shoppers into Buyers
• Supermarket Persuasion: How is Food Merchandised?
• Target Marketing? Bullseye!
• Venture: Flops

• Canadian Marketing in Action, Third Edition
• Marketing, Canadian Edition

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