Session 1 MG 220 BBA - 9 Aug 10

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Class Presentation for BBA Marketing Management Class

Session 1
9 Aug 2010

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Session 1 MG 220 BBA - 9 Aug 10

  1. 1. Part 1: Understanding Marketing Management<br />> Importance of Marketing<br />> Scope of Marketing<br />> Company orientation toward the marketplace<br />Class Presentation | Session 1 | 9 Aug 2010<br />
  2. 2. Importance of MarketingWhy it is required<br />Financial success & Marketing ability<br />Making the right decision<br />Simple?<br />Skillful marketing: A never-ending pursuit<br />MG 220 Marketing Management<br />2<br />
  3. 3. Scope of MarketingWhat is Marketing<br />Some definitions:<br />“Meetingneedsprofitably”<br />AMA: “Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders”<br />MG 220 Marketing Management<br />3<br />
  4. 4. Scope of MarketingWhat is Marketing<br />Some definitions (contd.):<br />Kotler: “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”<br />MG 220 Marketing Management<br />4<br />
  5. 5. Scope of MarketingExchanges & Transfers<br />Exchange<br />Process of obtaining a desired product from someone by offering something in return<br />Transaction<br />Trade of values between two or more parties<br />Transfer<br />One party gives something to other but doesn’t receive anything in return<br />MG 220 Marketing Management<br />5<br />
  6. 6. Scope of MarketingWhat is marketed?<br />Goods<br />Services<br />Events<br />Experiences<br />Persons<br />Places<br />Properties<br />Organizations<br />Information<br />Ideas<br />MG 220 Marketing Management<br />6<br />
  7. 7. Scope of MarketingWho markets?<br />Marketer, someone who seeks a response from another party, called Prospect<br />Marketers are responsible for Demand Management<br />Negative<br />Non-Existent<br />Latent<br />Declining<br />Irregular<br />Full<br />Overfull<br />Unwholesome<br />MG 220 Marketing Management<br />7<br />
  8. 8. Scope of MarketingWho markets?<br />Markets, collection of buyers and sellers who transact over a particular product or product class<br />MG 220 Marketing Management<br />8<br />
  9. 9. Scope of MarketingWho markets?<br />Key Customer Markets<br />Consumer<br /> Branding | Mass selling | Insights<br />Business<br /> Professional buyers | well-informed<br />Global<br /> Adaptability | Operational matters<br />N0n-profit & Government<br /> Highly price sensitive | Competitive pricing<br />MG 220 Marketing Management<br />9<br />
  10. 10. Scope of MarketingWho markets?<br />Marketplaces, Marketspaces & Metamarkets<br />Marketplaces<br />Physical | buying yourself<br />Marketspaces<br /> Online | ‘Ordering’<br />Metamarkets<br /> Complimentary products<br />MG 220 Marketing Management<br />10<br />
  11. 11. Scope of MarketingHow businesses are changing<br />“The Marketplace isn’t what it used to be”<br />Changing technology<br />Globalization<br />Deregulation<br />MG 220 Marketing Management<br />11<br />
  12. 12. Scope of MarketingHow businesses are changing<br />“The Marketplace isn’t what it used to be”<br />Privatization<br />Customer empowerment<br />Customization<br />Heightened competition<br />MG 220 Marketing Management<br />12<br />
  13. 13. Scope of MarketingHow businesses are changing<br />“The Marketplace isn’t what it used to be”<br />Industry convergence<br />Retail transformation<br />Disintermediation<br />MG 220 Marketing Management<br />13<br />
  14. 14. Company Orientations toward the marketplace<br />Different approaches companies use for marketing<br />Production<br />Product<br />Selling<br />Marketing<br />Holistic Marketing<br />MG 220 Marketing Management<br />14<br />
  15. 15. Company Orientations toward the marketplace<br />The Production Concept<br />Consumers will favor products that are “widely available” & “inexpensive”<br />Focus on “Production”<br />The Product Concept<br />Consumer will favor those products that offer the most quality, performance or innovation<br />Focus entirely on “Product development”<br />What if: not priced, distributed, advertised and sold properly?<br />MG 220 Marketing Management<br />15<br />
  16. 16. Company Orientations toward the marketplace<br />The Selling Concept<br />Customers (consumers & businesses), if not engaged, will not buy enough<br />Aggressive selling & promotion is required<br />Practiced with unsought goods<br />The Marketing Concept<br />Replace product-centred “make-and-sell” with “sense-and-respond”<br />Reactive market orientation<br />Proactive market orientation<br />MG 220 Marketing Management<br />16<br />
  17. 17. Company Orientations toward the marketplace<br />The Holistic Marketing Concept<br />“Everything matters”<br />Based on the development, design and implementation of marketing programs, processes, and activities that recognizes their breadth and interdependenices<br />4 Components<br />Relationship marketing<br />Integrated marketing<br />Internal marketing<br />Social responsibility marketing<br />MG 220 Marketing Management<br />17<br />
  18. 18. Company Orientations toward the marketplace<br />MG 220 Marketing Management<br />18<br />
  19. 19. Company Orientations toward the marketplace<br />MG 220 Marketing Management<br />19<br />
  20. 20. Company Orientations toward the marketplace<br />MG 220 Marketing Management<br />20<br />
  21. 21. Company Orientations toward the marketplace<br />MG 220 Marketing Management<br />21<br />
  22. 22. Quick Recap<br /> Importance of Marketing<br />Scope of Marketing<br />Company orientation toward the marketplace<br />MG 220 Marketing Management<br />22<br />
  23. 23. Part 1: Understanding Marketing Management<br />> Fundamental Marketing Concepts, Trends and Tasks<br />> Marketing & Customer Value<br />> Corporate and Division Strategic Planning<br />> Business Unit Strategic Planning<br />> Product Planning: The Nature and Contents of a Marketing Plan<br />Class Presentation | Session 2 | 11 Aug 2010<br />

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