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Consumer Response to Innovative Products
Consumer response to innovative products with application to foods Anne M.K. Michaut Promotoren: prof. dr. ir. H.C.M. van Trijp Hoogleraar in de marktkunde en het consumentengedrag Wageningen Universiteit. prof. dr. ir. J-B.E.M. Steenkamp Hoogleraar in de marketing Universiteit van Tilburg Promotiecommissie: prof. dr. R.T. Frambach, Vrije Universiteit Amsterdam, Nederland prof. dr. B. Wansink, University of Illinois Urbana-Champaign, USA prof. dr. J.H.A. Kroeze, Universiteit Utrecht, Wageningen Universiteit, Nederland prof. dr. G.A. Antonides, Wageningen Universiteit, Nederland Dit onderzoek is uitgevoerd binnen de Mansholt Graduate School. Consumer response to innovative products with application to foods Anne M.K. Michaut Proefschrift ter verkrijging van de graad van doctor op gezag van de rector magnificus van Wageningen Universiteit, prof. dr. ir. L. Speelman, in het openbaar te verdedigen op dinsdag 8 juni 2004 des namiddags te half twee in de Aula. Michaut, Anne Consumer response to innovative products: with application to foods /Anne Michaut PhD thesis, Wageningen University. – With ref. – With summary in English and Dutch ISBN: 90-8504–024-8 Abstract This thesis aims at gaining a deeper understanding of how consumers perceive product newness and how perceived newness affects the market success of new product introductions. It builds on theories in psychology that identified “collative” variables closely associated with newness perceptions on the part of the consumer. Also, it explores the effect of newness on market success after one year and the pattern of market success during that time period. It is hypothesized that perceived newness is a two-dimensional (rather than unitary) construct and that its two dimensions, (1) mere perception of newness and (2) perceived complexity, have different effects on product liking and market success over time. -
Marketing Engineering MGMT 49000
WALTON MBA ALUMNI RECONNECT DISRUPTION IN RETAIL Dinesh K. Gauri WHO AM I Dinesh Gauri . M.S. in Mathematics & Computer Applications . M.A. Economics . Ph.D. Marketing . Professor of Marketing (at Walton College since July 2016) . Executive Director of Retail Information . Associate Editor – Retailing Area, Journal of Business Research WATCH YOUR DAY IN FUTURE THE RETAILER’S ROLE IN A SUPPLY CHAIN 1-4 1-5 DISRUPTION IN INDUSTRY – OVER DECADE Retailer Market Value Market Value Change (2006) (Today) $28.4 B $15 B (47 %) $18.1 B $ 1.9 B (89 %) $24.2 B $ 6.9 B (71 %) $24.2 B $ 9.1 B (62 %) $12.4 B $ 7.7 B (37 %) $27.8 B $ 1.5 B (94 %) $51.3 B $ 29.5 B (42 %) $214 B $ 222.7 B 4 % $17.5 B $ 430.7 B 2361 % LEADING TO OVER $300B IN M&A OVER THE LAST 30 MONTHS IN CPG AND RETAIL ALONE E-COMMERCE RETAIL SALES AS % OF TOTAL SALES Ecommerce Retail Sales in 2016 - $398 billion BIGGEST U.S. E-COMMERCE RETAILERS Amazon.com $94.7 b* Apple $16.8 b Walmart $14.4 b Home Depot $5.6 b Best Buy $4.8 b Macy's $4.6 b Costco $4.2 b QVC $4.0 b *Excludes Media and Services Source: E-Marketer Inc. WHERE DO US CONSUMERS SHOP? Top 10 retailers and restaurants Penetration of US shoppers who made a purchase at one of these companies in 2016 Wal-Mart 95% McDonald's 89% Target 84% Walgreens 77% Dollar Tree 71% Subway 70% CVS 69% Home Depot 68% Taco Bell 62% Burger King 60% Source: NPD Group’s Checkout Tracking NON-FOOD RETAIL VS. -
Positioning.Pdf
Positioning Positioning Outline ▪ The concept of product positioning ▪ Conducting a positioning study ▪ Perceptual mapping using principal component analysis ▪ Incorporating preferences into perceptual maps Positioning Learning goals ▪ Explain the concept of positioning, understand the fundamental issues in positioning, and be able to write a positioning statement ▪ Know the steps in designing a positioning study ▪ Construct a perceptual map using principal component analysis and interpret the resulting map ▪ Incorporate vector or ideal preferences into perceptual maps and derive marketing insights based on the distribution of preferences Positioning STP – Segmentation, Targeting, Positioning All consumers Product in the market Price Target marketing Target market and positioning segment(s) Communication Marketing mix Distribution Marketing strategies of competitors Positioning Central questions in positioning (based on Rossiter and Percy) ▪ A brand’s positioning should tell customers □ what the brand is – what category need it satisfies (brand- market positioning), □ who the brand is for – what the intended target audience is (brand-user positioning), and □ what the brand offers – what benefits it provides (brand- benefit positioning) ▪ The selection of benefits to emphasize should be based on □ importance (relevance of the benefit to target customers’ purchase motives in the category), □ delivery (the brand’s ability to provide the benefit), and □ uniqueness (differential delivery of the benefit) Positioning What is positioning? Category Need What the brand is? User Brand I Benefit(s) D U Positioning Positioning statement ▪ To [the target audience] ▪ ________ is the (central or differentiated) brand of [category need] ▪ that offers [brand benefit(s)]. The positioning for this brand □ should emphasize [benefit(s) uniquely delivered], □ must mention [benefit(s) that are important “entry tickets”], □ and will omit or trade off [inferior-delivery benefits]. -
Perceptual Mapping by Multidimensional Scaling: a Step by Step Primer
Perceptual Mapping by Multidimensional Scaling: A Step by Step Primer By Brian F. Blake, Ph.D. Stephanie Schulze, M.A. Jillian M. Hughes, M.A. Candidate Methodology Series September 2003 Cleveland State University Brian F. Blake, Ph.D. Jillian M. Hughes Senior Editor Co-Editor Entire Series available : http://academic.csuohio.edu:8080/cbrsch/home.html RRRESEARCH RRREPORTS IN CCCONSUMER BBBEHAVIOR These analyses address issues of concern to marketing and advertising professionals and to academic researchers investigating consumer behavior. The reports present original research and cutting edge analyses conducted by faculty and graduate students in the Consumer- Industrial Research Program at Cleveland State University. Subscribers to the series include those in advertising agencies, market research organizations, product manufacturing firms, health care institutions, financial institutions and other professional settings, as well as in university marketing and consumer psychology programs. To ensure quality and focus of the reports, only a handful of studies will be published each year. “Professional” Series - Brief, bottom line oriented reports for those in marketing and advertising positions. Included are both B2B and B2C issues. “How To” Series - For marketers who deal with research vendors, as well as for professionals in research positions. Data collection and analysis procedures. “Behavioral Science” Series - Testing concepts of consumer behavior. Academically oriented. AVAILABLE P UBLICATIONS : Professional Series Lyttle, B. & Weizenecker, M. Focus groups: A basic introduction, February, 2005. Arab, F., Blake, B.F., & Neuendorf, K.A. Attracting Internet shoppers in the Iranian market, February, 2003. Liu, C., Blake, B.F., & Neuendorf , K.A. Internet shopping in Taiwan and U.S., February, 2003. -
Marketing Engineering and Making Marketing Decisions
INTERNATIONAL JOURNAL OF SCIENTIFIC & TECHNOLOGY RESEARCH VOLUME 8, ISSUE 12, DECEMBER 2019 ISSN 2277-8616 Marketing Engineering And Making Marketing Decisions Mahmood Jasim Alsamydai Absract : The concept of marketing engineering has become, today, an issue of great importance because it has helped in enabling marketing management to gain information and analyze it by using computer devices, communication networks, software and marketing decisions support systems, thus helping marketing management to take marketing decisions. The term marketing engineering can be traced back to Lilien et al. in "The Age of Marketing Engineering" published in 1998. In this article the authors defined marketing engineering as the use of computer decision models in making marketing decisions. The definition of marketing engineering was also developed by Lilien et al. 2002, who defined marketing engineering as "the systematic process of putting marketing data and knowledge to practical use through the planning, design, and construction of decision aids and marketing management support systems (MMSSs)". Among the driving factors toward the development of marketing engineering are the use of high- powered personal computers connected to LANs and WANs, the exponential growth in the volume of data, and the reengineering of marketing functions. other researcher also called marketing engineering "the systematic process of putting marketing data and knowledge to practical use through the planning, design, and construction of decision aids and marketing management support systems." Marketing management works in a variable and unstable environment, where it is requested to be flexible and interactive with these changes in the internal and external environment of the organization. There is a tremendous flow of information, where marketing engineering has to collect and analyze, by adopting information systems, information technology management decision support systems. -
Product Positioning Using Perceptual & Preference Maps
Positioning ME Basics 1 Product Positioning Using Perceptual & Preference Maps Differentiation: Creation of differences on one or two key dimensions between a focal product and its main competitors. Positioning: Strategies that firms develop and implement to ensure that the created differences occupy a distinct position in the minds of customers. Mapping: Techniques (using customer-data) that enable managers to develop differentiation and positioning strategies by visualizing the competitive structure of their markets as perceived by their customers. ME Basics 2 1 1 Generic Positioning Strategies: G Positioning on specific product features u Sport u Roomy G Positioning on benefit, problem solution or needs u G Positioning against another product u 7 up (Uncola) G Positioning through service uniqueness u Singapore airlines ME Basics 3 To Position Products G Marketing managers must understand the dimensions along which target rs (competitive structure of their markets): u How do our customers (current/potential) view our brand? u Which brands do these customers perceive to be our closest competitors? u What product and company attributes seem to be most responsible for these perceived differences? G The perceptual mapping methods provide formal mechanisms to depict the competitive structure of markets in a manner that facilitates differentiation and positioning decisions. ME Basics 4 2 2 A Perceptual Map G A perceptual map is a spatial representation in which competing alternatives and attributes are plotted in a Euclidean space. G Characteristics of the map: (1) The pairwise distances between product alternatives directly products, that is, how close or far apart the products are in the minds of customers. -
Alternative Perceptual Mapping Techniques: Relative Accuracy and Usefulness
JOHN R. HAUSER and FRANK S. KOPPELMAN * Perceptual mapping is widely used in marketing to analyze market structure, design new products, end develop advertising strategies. This article presents theoretical arguments and empirical evidence which suggest that factor analysis is superior to discriminant analysis and similarity scaling with respect to predictive ability, managerial interpretability, and ease of use. Alternative Perceptual Mapping Techniques: Relative Accuracy and Usefulness Perceptual mapping has been used extensively in ty, and direct marketing strategy to the areas of marketing. This powerful technique is used in new investigation most hkely to appeal to consumers. product design, advertising, retail location, and many Perceptual mapping has received much attention in other marketing applications where the manager wants the literature. Though varied in scope and application, to know (1) the basic cognitive dimensions consumers this attention has been focused on refinements of the use to evaluate "products" in the category being techniques, comparison of alternative ways to use the investigated and (2) the relative "positions" of present techniques, or application of the techniques to market- and potential products with respect to those dimen- ing problems.' Few direct comparisons have been sions. For example. Green and Wind (1973) use simi- made of the three major techniques—similarity scal- larity scaling to identify the basic dimensions used ing, factor analysis, and discriminant analysis. In fact, in conjoint analysis. Pessemier (1977) applies discri- most of the interest has been in similarity scaling minant analysis to produce the joint-space maps that because of the assumption that similarity measures are used in his DESIGNR model for new product are more accurate measures of perception than direct design. -
Perceptual Mapping of SED and Brand Choice to Purchase Car
Pacific Business Review International Volume 12 Issue 1, July 2019 Perceptual Mapping of SED and Brand Choice to Purchase Car Madhusmita Choudhury Abstract Research Scholar, Centurion University India is one among the world's quickest growing automobile markets of Technology & Management and is poised to become the third largest passenger's automobile market by 2020 (Philip, L. 2016, Economic Times). The recorded sales Prof Dr Bidhu Bhusan Mishra growth of four wheelers like car & utility vehicle has additionally up Professor & HOD, Dept. of Business up-to 7.87 % and 6.25% severally throughout April-March 2016 Administration, Professor Utkal University, (SIAM, 2015-16). however what makes an automobile maker like Bhubaneswar, Odisha Japan's Maruti Suzuki and Korea's Hyundai enjoys quite 67% of Dr P. K. Mohanty market share whereas others like United States of America automobile Dean, School of Management, manufacturers Ford Republic of India and General Motors combined Centurion University of Technology & market share is simply 4-5%(Philip,L.2016,The Economic Times). Management, Bhubaneswar, Odisha Sales within the North & East region have proven solely 5%of changes within the FY16 that is relatively under the west & south region (Khan,A.N,2016, The Economic Times). The Japanese automobile makers(Honda, Hyundai, Isuzu Motors, Nisan &Toyota) achieved a median of forty eight.01% of growth until Gregorian calendar month 2016 having an improved stand from the Indian automobile manufacturers (Hindustan Motors, M&M,M&S, Tata & Force motors) -
Perceptual Mapping of Green Consumers: an Innovative Market Segmentation Strategy
Journal of International Marketing Strategy Vol. 2, No. 1, Fall 2014, pp 28-38 ISSN 2122-5307, All Rights Reserved PERCEPTUAL MAPPING OF GREEN CONSUMERS: AN INNOVATIVE MARKET SEGMENTATION STRATEGY Rajeev Kumar Shukla, ShriVaishnav Institute of Technology& Science, India, [email protected] AjitUpadhyaya, Prestige Institute of Management and Research, India, [email protected] ABSTRACT There is growing interest among the consumers all over the world regarding protection of environment. Worldwide evidence indicates people are concerned about the environment and are changing their behavior. As a result of this, green marketing has emerged which speaks for growing market for sustainable and socially responsible products and services. The main purpose of this study was to weigh the environmental concerns and influences on consumers. The present study provided the emerging dimensions of green consumers and an opportunity for developing market segmentation strategy for the products offering of the marketers. The study further analyzed the gender and age effect of consumers on their revealed preferences for Green Marketing Issues. Keywords: Green Consumer, Perceptual Mapping, Market Segmentation INTRODUCTION There is growing interest among the consumers all over the world regarding protection of the environment. Worldwide evidence indicates people are concerned about the environment and are changing their behavior. Green marketing has emerged which speaks for growing market for sustainable and socially responsible products and services (Dash, S. K. 2010). The modern world has led consumers to become increasingly concerned about the environment. Such concerns have begun to be displayed in their purchasing patterns, with consumers increasingly preferring to buy so-called environmentally friendly products. -
B2b Segmentation As a Tool for Marketing and Logistic Strategy Formulation
ISSN 1822-8011 (print) VE IVS ISSN 1822-8038 (online) RI TI TAS TIA INTELEKTINĖ EKONOMIKA INTELLECTUAL ECONOMICS 2011, No. 1(9), p. 54–64 B2B SEGMENTATION AS A TOOL FOR MARKETING AND LOGISTIC STRATEGY FORMULATION Stanislava GROSOVA Institute of Chemical Technology Prague, Technická 5, Praha 6 E-mail:[email protected] Ivan GROS Institute of Chemical Technology Prague, Technická 5, Praha 6 E-mail: [email protected] Magda CISAROVA Institute of Chemical Technology Prague, Technická 5, Praha 6 E-mail: [email protected] Abstract. This article deals with the B2B market segmentation as the tool for formula- tion of the marketing and logistical strategy. An empirical study on the market of secondary cardboard packaging represents the research approach carried out by personal and electronic questioning in order to determine customers´ expectations, demands, preferences and charac- teristics, results in the processing by the factor and cluster analysis, discovered and designed segments and their profiles. The research focused on existing and potential customers was primarily motivated by finding ways to discover new opportunities in value creation for spe- cific segments on stagnant market. The important part of the study is the confirmation or re- fusing of hypotheses concerning the behavior of created B2B segments. JEL Clasification: M31, M21. Keywords: market segmentation, B2B market, corrugated cardboard, marketing strat- egy, logistic strategy Reikšminiai žodžiai: rinkos segmentavimas, verslas verslui rinka, rinkodaros strategija, logistikos strategija. B2B Segmentation as a Tool for Marketing and Logistic Strategy Formulation 55 1. Introduction Significant position on secondary manipulation and transport packaging is held by cardboard packages. -
PMTK Role Descriptions
Blackblot Product Manager's Toolkit® www.blackblot.com Blackblot® PMTK Role Descriptions <Comment: Replace the Blackblot logo with your company logo.> Company Name: <Enter company name> Product Name: <Enter product name> Date: <Enter creation date> Contact: <Enter contact name> Department: <Enter department name> Location: <Enter location> Email: <Enter email address> Telephone: <Enter telephone number> Document Revision History: Date Revision Revised By Approved By <Enter revision date> <Revision #> <Enter your name> <Enter name> Evaluation Copy Blackblot_PMTK_Role_Descriptions.docx Page 1 of 14 Pages Sunday, January 01, 2017 Copyright © Blackblot. All rights reserved. Use of this document is subject to the Blackblot PMTK Single-User License Agreement. Blackblot Product Manager's Toolkit® www.blackblot.com Table of Contents 1. INTRODUCTION ...................................................................................... 3 1.1. DOCUMENT OBJECTIVE ........................................................................ 3 1.2. TYPES OF EXPERTISE .......................................................................... 3 1.3. EDUCATION AND MINDSET .................................................................... 4 2. PRODUCT PLANNER ROLE DESCRIPTION ................................................ 4 2.1. SECTION OBJECTIVE ........................................................................... 4 2.2. ROLE OVERVIEW ............................................................................... 4 2.3. ROLE SKILL SET ............................................................................... -
Application of Neural Network in the Cost Estimation of Highway Engineering
1762 JOURNAL OF COMPUTERS, VOL. 5, NO. 11, NOVEMBER 2010 Application of Neural Network in the Cost Estimation of Highway Engineering WANG Xin-Zheng School of Civil Engineering,Nanyang Normal University ,Nanyang city P.R.China, 473061 [email protected] DUAN Xiao-chen and LIU Jing-yan School of Economics and Management,Shijiazhuang Railway InstituteShijiazhuang city,P.R.China,050043 [email protected] Abstract—Based on the BP neural network, this paper sets up the model of cost estimation of highway engineering. The BP neural network model is trained by a sample data II. METHODOLOGY OF NEURAL NETWORK obtained from some performed typical engineering to come The neural network is a new method of information true quick cost-estimating.It is sure that the method is practical and the estimating results are reliable according processing[3]. It is the complex network system that is . formed by many plentiful and simple processing units to lots of examples It shows the promising perspective of [4] BP Neural Network in cost estimate of construction (neurons) . The neural network is one kind of engineering. large-scale parallel connection mechanism with adaptive modeling function, which simulates the structure of Index Terms -neural network, highway engineering, cost human brain[5]. Its establishment is on the basis of estimation modern neuroscience research. In many kinds of neural network models, the back-propagation neural network I. INTRODUCTION model (i.e. BP network model) is the most popular The cost estimation of the project is an important network because of its better functions of self-study and content of the feasibility Study.