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1  marketing fundmentals 1 marketing fundmentals Presentation Transcript

  • Marketing FundamentalsHany Khodair PMP, ITIL, CIM Affiliate
  • Marketing DefinitionWhat is marketing?• Most people mistakenly identify marketing with selling and promotion.• While selling and promotion are a part of marketing, they are not most important part.• In Principles of Marketing Philip Kotler stated: • If the marketer does a good job of identifying consumer needs, developing appropriate products, and pricing, distributing, and promoting them effectively, these goods will sell very easily. Hany Khodair PMP, ITIL, CIM Affiliate
  • Marketing DefinitionDefining Marketing…• Marketing can be defined as an activity directed at satisfying needs and wants through exchange processes.• The ultimate goal of marketing is to make selling nonessential• To know and understand the customer so well that the product or service fits him or her and sells itself. Hany Khodair PMP, ITIL, CIM Affiliate
  • Marketing DefinitionGoods, Services, & Ideas…• Marketing deals with goods, services, and ideas.• A good is something someone can touch.• A service is providing an intangible benefit to customers.• An idea can include concepts or images.• For this course, we will use the word product to refer to goods, services, and ideas. Hany Khodair PMP, ITIL, CIM Affiliate
  • Marketing DefinitionNeeds, Wants, & Demands…• One of the underlying concepts of marketing is trying to satisfy a customer’s needs, wants and demands.• Needs are plentiful. Basic human needs include food, clothing, warmth, safety and belonging.• Wants are simply needs shaped by culture and the individual.• Demands are simply the wants of a consumer when backed by the ability to pay for that want. Hany Khodair PMP, ITIL, CIM Affiliate
  • Marketing DefinitionDynamic marketing environment…• There are many forces that affect the marketing environment, including: • Competition • Laws and Regulations • Economic and Social Conditions • Cultural Factors• These forces can be dramatic and difficult to predict.• Be aware of these forces because they can create threats and generate opportunities for your business. Hany Khodair PMP, ITIL, CIM Affiliate
  • Marketing DefinitionThe marketing mix…• The marketing mix is another important concept when it comes to marketing.• The marketing mix refers to activities that a firm can control to produce the response it wants from the target market.• These variables can be categorized into four groups, also know as the four P’s of marketing. Hany Khodair PMP, ITIL, CIM Affiliate
  • Marketing DefinitionThe Process of planning and executing the marketing Mix(4ps)to satisfy both individual and organizational objectives.4PS-Product This is what you are offering to your target market, be it a tangible product or a service.-Price The amount you will charge for your product.-Place Channels your product will go through to reach the customer.-Promotion How you raise awareness with your target market.And additional 3ps have been added-people-process-Physical Evidence Hany Khodair PMP, ITIL, CIM Affiliate
  • What is Market Research?Is the systematic and objective definition, collection, analysisand use of information for the purpose of improving decisionmaking related to the identification and solutions of problemsand opportunities in marketing.A classification of marketing researchProblem identification research:-Is to help identify problems that are, perhaps not apparent onthe surface and Yet exist or are likely to arise in future.-Example: Market potential, market share, brand or companyimage, market characteristics, sales analysis. Hany Khodair PMP, ITIL, CIM Affiliate
  • Market Research-Market Potential Research -Segmentation Research-Market Share Research -Product Research-Image Research -Pricing Research-Market Characteristics -Promotion Research Research -Distribution Research-Sales Analysis Research-Business Trends Research Hany Khodair PMP, ITIL, CIM Affiliate
  • Strategic Marketing Planning Process Situation analysis Internal, customer & external environments SWOT analysis (internal) Strengths & Weaknesses (external) opportunities & Threats. Organization Mission, Goals, Objectives Marketing Strategy Marketing Implementation and Control Hany Khodair PMP, ITIL, CIM Affiliate
  • Organizational Mission VS. Organizational Vision-Organizational mission or mission statement seeks to answerthe question “What business are we in?”-A mission statement is a clear and concise statement(it should be in one paragraph or two at most) that explains theorganization’s Reason for being.The mission Statement should clarify and answer 5 basicquestions:-Who are we?-Who are our customers?-What is our operating philosophy (basicbeliefs, values, ethics, etc?)-What are our core competencies or competitive advantages?-What are our concerns and interests related to ouremployees, our community social issues and our environment? Hany Khodair PMP, ITIL, CIM Affiliate
  • Organizational Mission VS. Organizational VisionOrganizational VisionWhat the company aims in the future?This vision shouldn’t be published. Hany Khodair PMP, ITIL, CIM Affiliate
  • Example of mission and visionBoeing missionOur mission is bigger and broader than ever. It is to push notjust the envelope Of flight, but the entire envelope of valuerelating to our customers and share holders.VisionTo be the source of our clients competitive advantage. Hany Khodair PMP, ITIL, CIM Affiliate
  • Marketing Goals and ObjectivesMarketing objectives should be expressed in clear, simple termsso that all marketing personnel understand what type and levelof performance is desired.The marketing objective should be written so that itsaccomplishment can be :-Measured accurately-The marketing objective should be expressed in terms of salesvolume, Profitability per unit, percentage gain in marketshare, sales per square foot, average customerpurchase, percentage of customers in the firm’s target Marketwho prefer its products. Hany Khodair PMP, ITIL, CIM Affiliate
  • Marketing StrategyAn organization’s marketing strategy is designed to provide atotal integration Of efforts that focus on achieving themarketing objectives.The marketing strategy must:-Fit the needs and purposes of the selected target market.-Be realistic given the organization’s available resources andenvironment.-Be the consistent with the organization’s mission, goals andobjectives.Marketing strategy must be evaluated to determine its effecton the organization’s sales, costs, image and profitability. Hany Khodair PMP, ITIL, CIM Affiliate
  • Marketing Implementation and Control-Marketing implementation involves activities that actuallyexecute the marketing strategy. One of the more interestingaspects of marketing strategy is that all Organizations have atleast two target markets: an external market (Customers) andan internal market (employees)-The tradition way of a target market is the external customermarket.- Maintaining a customer focus is extremely important throughout the marketing Plan process and particularly during implementation.- The marketing concept is a widely accepted businessphilosophy that states an organization should try to provideproducts that satisfy customer’s needs through a coordinatedset of activities that allow the organization to achieve its goals. Hany Khodair PMP, ITIL, CIM Affiliate
  • -Evaluation and control phase of the planning process is anend and a beginning.-Evaluation occurs after the marketing strategy has beenimplemented-Any marketing strategy would be incomplete without anassessment of its success and the creation of controlmechanisms to provide and revise the strategy, itsimplementation or both if necessary.-Evaluation and control serve as the beginning point for theplanning process in the next planning cycle. Hany Khodair PMP, ITIL, CIM Affiliate
  • The Target ClientStudy carefully your client regarding different characteristics-Demographic Characteristics(Male, Female, Social economicgroup, geographic, occupation, income)-Psychographics and life style characteristics(Stylish, happy and out going, Energetic, self controlled) Hany Khodair PMP, ITIL, CIM Affiliate
  • The Market Plan-A great deal of effort and organizational commitment arerequired to create and implement a marketing plan.-Marketing plans can be developed for specificproducts, brands, target markets, or industries.-A critical aspect of the marketing plan is its ability tocommunicate to other Colleagues, particularly top managers.-Top managers look to the marketing plan for an explanation ofthe elements Of the marketing strategy and for a justificationof needed resources, like the Marketing budget.-The marketing plan also communicates to line managers andother employees By giving them points of reference to chartthe progress of marketing implementation. Hany Khodair PMP, ITIL, CIM Affiliate
  • Purposes and significance of the marketing plan-It explains both the present and future situations of the organization.This includes the environmental and SWOT analyses and the firm’spast Performance.-It specifies the outcomes that are expected (goals and objectives) sothat the Organization can anticipate its situation at the end of theplanning period.-It describes the specific actions that are to take place so that theresponsibility For each action can be assigned and implemented.-It identifies the resources that will be needed to carry out the plannedactions.-It permits the monitoring of each action and its results so thatcontrols may be implemented. Feed back from monitoring and controlprovides information to start the planning cycle again in the next timeframe. Hany Khodair PMP, ITIL, CIM Affiliate
  • -Line managers are particularly interested in the thirdpurpose because they are Responsible for ensuring thatmarketing actions are implemented.-Middle level managers have a specific interest in the fifthpurpose because they Want to ensure that tactical changescan be made if needed.-The most concern is the fourth purpose, because themarketing plan is the means of communicating the strategyto top executives who make the Critical decisions regardingthe productive and efficient allocation of resources.-The marketing plan can prove unsuccessful ifimplementation of the plan is Not adequately funded. Hany Khodair PMP, ITIL, CIM Affiliate
  • Organizational aspects of the marketing planWho writes the marketing plan?-The marketing plan can be written by the marketingmanager, brand manager, Product manager.-Some organizations develop marketing plans throughcommittees.-Other will hire professional marketing consultants.-Others assign the marketing plan to the vice president or themarketing director. Hany Khodair PMP, ITIL, CIM Affiliate
  • Major Problems in Developing Marketing plans-Company isn’t market oriented.-Plans not taken seriously.-Hard to make forecasts.-Not enough time to prepare.-Hard to get consensus/cooperation.Top managers usually ask two important questions:-Will the proposed marketing plan achieve the desiredmarketing, business unit, and corporate goals and objectives?-Are there alternative uses of the resources that would bettermeet corporate Or business unit objectives than the marketingplan that has been submitted? Hany Khodair PMP, ITIL, CIM Affiliate
  • Traditional VS. Market Oriented Organizational Structure Customers Customers CEO Front Line Middle employees Managers Middle Front Line Managers employees CEO Customers Traditional Market-Oriented Organizational Structure Organizational Structure Hany Khodair PMP, ITIL, CIM Affiliate