Benihana Case Study

grocery store place Management Class Notes 1/16/13 Markets * Consumer commercialiseB2C * bloodline marketB2B * Global market (? ) * Not-for-profit marketm sr.iness throw mel loweder(prenominal) r neverthelessues than court to extend * ex health-care hospitals need 7% much revenues than expenses to survive * Government market result models * need, wants, and demands * segmentation, target markets, positioning * offerings and brands esteem and rejoicing * relationship marketing * marketing take * supply chain * competition * marketing environment marketing mix4 Ps * Productgood, service, idea, beget, place, person, etc. * tollabove, at, or below market * draw a bead onretail location, channel of distribution * packaging publicize, personal transfering, gross sales promotion, PR/publicity Shifts in marketing management in past marketing does marketing straight everyone does marketing * organized by intersectionion units right away organizing by customer segm ents * development more suppliers like a shot using fewer suppliers who are partners * ex Wal-Mart and Procter & Gamble pampersno greater places orders for pampers now P&G brand manager manages Wal-Mart shelf of pampers * show tangible assets now emphasizing intangible assets * patterning brands through advertising now building brand through surgical process and compound communicating * good experience=tell 5 other multitude ad experience=tell 9 other people * now even more permanent with online ratings * shotgun (dispersed) v. start (accurate) * avoid shotgun (avoid developing product/service t palpebra would appeal to everybody) * relying on old markets now uncovering new markets * cogitate on profitable transactions now customer lifetime grade * study goals of increase revenue and market function v. now moldiness be accountable for return on marketing enthronement (ROMI) * local now glocal (local and global) * focus on shareholders now focus on stakeholders What d o marketers do? develop marketing strategies and plans * give back/collect marketing info (research) * unify w/ customers * develop market offerings * build brands * delivery and communicate evaluate * grow long-term increase * ex tusk 1879 and still going tonic merchandise capabilities * use of internet for info and sales * easily gather info al some * customers, prospects, markets, competitors * social media * facilitate and speed communication w/ customers * personal marketing (thru email) * wandering marketing for customers on the go * sess customization * bit of an oxi-moron * ex Levis jeans do to size preventionments use internet internally and for other than marketing Evolution of the Marketing Concept * Production Concept labor efficiency, low be, mass dist. consumers want the most quality, performance, or innovative features (more, better, faster) * Stool eviscerate in cottage industryindividuals make them at home w/ tools on handindustrial revolutionfactorie s, standards, conformity, production concept emerged * selling Conceptconsumers will buy completely if the company aggressively promotes/sells these products * Too many stools produced and no one is buying themhow to sell them? must aggressively sell and state * Marketing Conceptfocuses on take/wants of target markets and delivering treasure better than competitors * throw in the towel making stools that people dont need or want * must determine how many stools the customer wants scratch line before making them * The Marketing ConceptsThree Pillars * Customer orientation * Integrated marketing effort** * get across 1. 1 on p. 23 * integrated w/ other departments b/c marketing interacts w/ customers * Emphasis on profitable sales (not all sales are worth pursuing) * Pillsbury Ex 1. We make flourhow do we make the flour faster and better * 2. We sell flourhired sales people and started advertising * 3. What do customers want that has flour in itexpand product lines Burger Kin g ground beef buns, pie shops, refrigerated dough products Ch. 2 underdeveloped Marketing Strategies and pictures * Valuethe totality of features and characteristics of a product or service compared to its costs * Determinant of Cust0mer Values * Customer perceive rate * total customer value * Image value * Personal value * services value * product value vs. total customer cost * financial cost * time cost * aught cost * psychic cost * in mindinstantly assessing value and weighing it against cost Creating value * satisfy needs * more than one org * functions of marketing creates value Generic value chain tie-up in chain consists of * Primary activities inward logistics, operations, out-bound logistics, marketing and sales, service * support activities regular infrastructure, HR management, technology development, procurement (purchasing) * margin-includes gainfulness Ex Levi Jeans Value-Delivery Network Dupont fibersMilliken fabricsLevis apparelSears retailcustomer * sever ally is a link in the value chain When value is not go outd * disconnected sale * lost customerone hundred fifty-five (accounting for the number of years person would have been a customer) Competitive Advantagesomething a co. has that no other co. has * wind through * 1. center competenciessource of comp. advantage, application in roomy signifier of markets, and difficult for competitors to imitate * 2. distinctive capabilitiesexcellence in broad disdain practices * involve multiple levels of people ex ability to innovate, ability to understand your customer, judgement the market Marketing goal= rivalrous advantage * must be something material to customers * important in a variety of markets * difficult to imitate Strategic proviso * Corp. Mission * Marketing Myopia enchant close but dont see far away * Railroads theory they were in the railroad business, had they realized they were in the transportation business they could have expanded line to auto or shave * What bus iness are we in? * growth opportunities * growth matrix * SBUStrategic Business Unit * ResourcesS/W judgementO/T * goalsstrategies to make goalstactical plans to achieve strategies Good Mission Statement * exs in the book put back 2. 5 * identify * target customers and markets * commandment services delivered * org. philosophy * desired self-importance/public image * Mission teachingwhat the co. does Vision statementhope for time to come Goals and Objectives * goalsumbrella hierarchical (at different levels) * provide broad direction * objectivesSMART * item * Measurable * Actionable * Realistic * snip boundfor marketing plan, usually a year * for new product, maybe 6 months Porters Generic Strategies * 1.Overall cost leadershiplow cost supplier can make stuff at the lowest cost (will have higher margins and more choices) * 2. Differentiationdevelop free-enterprise(a) advantages that are diff. from competition * Focussegment * niche market focus that has all overall cost l eadership or differentiations Ansoffs Product/Market elaborateness Grid live products New products Existing markets Market Penetration * advertising, lowering price, increasing sales personnel, * take existing pie of market share and try to get larger piece of the pie Product development New markets Market development * ex co. hat made lawnmowers B2B (golf courses) decided they could sell those lawnmowers to consumers variegation Boston Consulting Groups fruit Share Matrix Relatively high market share Relatively low market share High market growth rate Stars Question attach (aka problem childrendont recognise how they are going to turn out) low market growth rate money cowsproducts youve had for a relatively long time but they have abate growth Ex Coke for Coca-Cola Dogs capital punishmentplansEvaluation and Control * Set objectives (to be measured) * measure performance against objectives * understand deviationswhy didnt you achieve what you set out to achieve * set new objectives Marketing Plan Parts * Exec. Summary * Table of contents * Situational digest External summary * Situational Analysis internal analysis * SWOT circumstantial success factors * Goals/objectives * Strategy4 Ps * Action programs * Financial implications * Controls Case Analysisslides being sent via email