01 marketing concepts

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  • 04/04/11
  • 04/04/11 Drucker, Yogi Berra, A Chinese Proverb, William Davidow, David Packard

Transcript

  • 1.
    • MARKETING
    • CONCEPTS
    • &
    • ITS ENVIRONMENT
  • 2. What is Marketing…??
    • Selling?
    • Advertising?
    • Promotions?
    • Making products available in stores?
    • Maintaining inventories?
    • All of the above, plus much more!
  • 3. Marketing = ?
    • Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, services to create exchanges that satisfy individual and organizational goals
    • American Marketing Association
  • 4. Marketing = ?
    • Marketing management is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.
  • 5. Simple Marketing System Goods/services Money Information Industry (a collection of sellers) Market (a collection of Buyers) Communication
  • 6. Marketing = ?
    • Marketing is the sum of all activities that take you to a sales outlet. After that sales takes over.
    • Marketing is all about creating a pull, sales is all about push.
    • Marketing is all about managing the four P’s –
      • product
      • price
      • place
      • promotion
  • 7. The 4 Ps & 4Cs Marketing Mix Customer Solution Customer Cost Communication Convenience Product Price Promotion Place
  • 8. Difference Between - Sales & Marketing ? Sales trying to get the customer to want what the company produces Marketing trying to get the company produce what the customer wants
  • 9. Scope – What do we market
    • Goods
    • Services
    • Events
    • Experiences
    • Personalities
    • Place
    • Organizations
    • Properties
    • Information
    • Ideas and concepts
  • 10. Core Concepts of Marketing
    • Based on :
    • Needs, Wants, Desires / demand
    • Products, Utility, Value & Satisfaction
    • Exchange, Transactions & Relationships
    • Markets, Marketing & Marketers.
  • 11. Core Concepts of Marketing Needs, wants demands Markets Marketing & Marketers Utility, Value & Satisfaction Xchange, Transaction Relationships Products
  • 12. In order to understand Marketing let us begin with the Marketing Triangle Customers Competition Company
  • 13. Who is a Customer ?? Anyone who is in the market looking at a product / service for attention, acquisition, use or consumption that satisfies a want or a need CUSTOMER IS . . . . .
  • 14. Customer –
    • CUSTOMER has needs, wants, demands and desires
    • Understanding these needs is starting point of the entire marketing
    • These needs, wants …… arise within a framework or an ecosystem
    • Understanding both the needs and the ecosystem is the starting point of a long term relationship
  • 15. How Do Consumers Choose Among Products & Services?
    • Value - the value or benefits the customers gain from using the product versus the cost of obtaining the product.
    • Satisfaction - Based on a comparison of performance and expectations.
      • Performance > Expectations => Satisfaction
      • Performance < Expectations => Dissatisfaction
  • 16. Customers - Problem Solution
    • As a priority , we must bring to our customers “ WHAT THEY NEED ”
    • We must be in a position to UNDERSTAND their problems
    • Or in a new situation to give them a chance to AVOID the problems
  • 17. Customer looks for Value
    • Value = Benefit / Cost
    • Benefit = Functional Benefit + Emotional Benefit
    • Cost = Monetary Cost + Time Cost + Energy Cost + Psychic Cost
  • 18. The Marketing Plan
    • A written document that acts as a guidebook of marketing activities for the marketing manager
  • 19. CONTENTS of MARKETING PLAN
    • Business Mission Statement
    • Objectives
    • Situation Analysis (SWOT)
    • Marketing Strategy
      • Target Market Strategy
      • Marketing Mix
        • Positioning
        • Product
        • Promotion
        • Price
        • Place – Distribution
        • People
        • Process
    • Implementation, Evaluation and Control
  • 20. The Marketing Process Target Market Strategy Marketing Strategy Product Promotion Place/Distribution Price Marketing Mix Business Mission Statement Objectives Situation or SWOT Analysis Implementation Evaluation, Control
  • 21. Factors Influencing Company’s Marketing Strategy
  • 22. External Marketing Environment Physical / Natural Demographics Social Change Economic Conditions Political & Legal Factors Technology Competition Environmental Scanning Target Market Product Distribution Promotion Price External Environment is not controllable Ever-Changing Marketplace
  • 23. The macro-environment is the assessment of the external forces that act upon the firm and its customers, that create threats & opportunities
  • 24. P r o d u c t
  • 25. Anything that is offered to the market for attention, acquisition, use or consumption that satisfies a want or a need Product is . . . . .
  • 26. Types of Products Consumer Products Industrial Products PRODUCTS Services
  • 27. Product Items, Lines, and Mixes Product Item Product Line Product Mix A specific version of a product that can be designated as a distinct offering among an organization’s products. A group of closely-related product items. All products that an organization sells.
  • 28. Product Mix
    • Width – how many product lines a company has
    • Length – how many products are there in a product line
    • Depth – how many variants of each product exist within a product line
    • Consistency – how closely related the product lines are in end use
  • 29. The Marketing Mix
    • The conventional view of the marketing mix consisted of four components (4 Ps): Product, Price, Place/ distribution and Promotion .
    • Generally acknowledged that this is too narrow today; now includes , P rocesses , P roductivity [technology ] P eople [employees], P hysical evidence
    • Marketers today are focused on virtually all aspects of the firm’s operations that have the potential to affect the relationship with customers.
  • 30. The “8Ps” of Integrated Service Management vs. the Traditional “4Ps”
    • Product elements
    • Place, cyberspace, and time
    • Process
    • Productivity and quality
    • People
    • Promotion and education
    • Physical evidence
    • Price and other user outlays
  • 31. The Give and Get of Marketing
  • 32. Great Words on Marketing
    • “ The purpose of a company is ‘to create a customer…The only profit center is the customer.’”
    • “ A business has two—and only two—basic functions: marketing and innovation. Marketing and innovation produce results: all the rest are costs.”
    • “ The aim of marketing is to make selling unnecessary.”
    • “ While great devices are invented in the Laboratory, great products are invented in the Marketing department.”
    • “ Marketing is too important to be left to the marketing department.”
  • 33. Drivers of Customer Satisfaction
    • Many aspects of the firm’s value proposition contribute to customer satisfaction:
      • The core product or service offered
      • Support services and systems
      • The technical performance of the firm
      • Interaction with the firm and it employees
      • The emotional connection with customers
    • Ability to add value and to differentiate as a firm focuses more on the top levels
  • 34. Marketers and Markets
    • Marketers are focused on stimulating exchanges with customers who make up markets – B2C or B2B.
    • The market is comprised of people who play a series of roles: decision makers, consumers, purchasers, and influencers.
    • It is absolutely essential that marketers have a detailed understanding of consumers, their needs and wants .
    • Much happens before and after the sale to affect customer satisfaction
  • 35. Stages of Customer Interaction
  • 36. What Changed in Marketing…
    • Organize by product units
    • Focus on profitable transactions
    • Look primarily at financial scorecard
    • Focus on shareholders
    • Marketing does the marketing
    • Build brands through advertising
    • Focus on customer acquisition
    • No customer satisfaction measurement
    • Over-promise, under-deliver
    • Organize by customer segments
    • Focus on customer lifetime value
    • Look also at marketing scorecard
    • Focus on stakeholders
    • Everyone does the marketing
    • Build brands through performance
    • Focus on customer retention
    • Measure customer satisfaction and retention rate
    • Under-promise, over-deliver
    Old Economy New Economy
  • 37.
    • THANK YOU….