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Session 1   MG 220 MBA - 16 Aug 10
 

Session 1 MG 220 MBA - 16 Aug 10

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Session 1

Session 1
Marketing Management
MBA 10

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    Session 1   MG 220 MBA - 16 Aug 10 Session 1 MG 220 MBA - 16 Aug 10 Presentation Transcript

    • Part 1: Understanding Marketing Management
      > Importance of Marketing
      > Scope of Marketing
      Class Presentation | Session 1 | 12 Aug 2010
    • Importance of MarketingWhy it is required
      Financial success & Marketing ability
      Making the right decision
      Simple?
      Skillful marketing: A never-ending pursuit
      MG 220 Marketing Management
      2
    • Scope of MarketingWhat is Marketing
      Some definitions:
      “Meetingneedsprofitably”
      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”
      MG 220 Marketing Management
      3
    • Scope of MarketingWhat is Marketing
      Some definitions (contd.):
      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”
      MG 220 Marketing Management
      4
    • Scope of MarketingExchanges & Transfers
      Exchange
      Process of obtaining a desired product from someone by offering something in return
      Transaction
      Trade of values between two or more parties
      Transfer
      One party gives something to other but doesn’t receive anything in return
      MG 220 Marketing Management
      5
    • Scope of MarketingWhat is marketed?
      Goods
      Services
      Events
      Experiences
      Persons
      Places
      Properties
      Organizations
      Information
      Ideas
      MG 220 Marketing Management
      6
    • Scope of MarketingWho markets?
      Marketer, someone who seeks a response from another party, called Prospect
      Marketers are responsible for Demand Management
      Negative
      Non-Existent
      Latent
      Declining
      Irregular
      Full
      Overfull
      Unwholesome
      MG 220 Marketing Management
      7
    • Scope of MarketingWho markets?
      Markets, collection of buyers and sellers who transact over a particular product or product class
      MG 220 Marketing Management
      8
    • Scope of MarketingWho markets?
      Key Customer Markets
      Consumer
      Branding | Mass selling | Insights
      Business
      Professional buyers | well-informed
      Global
      Adaptability | Operational matters
      N0n-profit & Government
      Highly price sensitive | Competitive pricing
      MG 220 Marketing Management
      9
    • Scope of MarketingWho markets?
      Marketplaces, Marketspaces & Metamarkets
      Marketplaces
      Physical | buying yourself
      Marketspaces
      Online | ‘Ordering’
      Metamarkets
      Complimentary products
      MG 220 Marketing Management
      10
    • Scope of MarketingHow businesses are changing
      “The Marketplace isn’t what it used to be”
      Changing technology
      Globalization
      Deregulation
      MG 220 Marketing Management
      11
    • Scope of MarketingHow businesses are changing
      “The Marketplace isn’t what it used to be”
      Privatization
      Customer empowerment
      Customization
      Heightened competition
      MG 220 Marketing Management
      12
    • Scope of MarketingHow businesses are changing
      “The Marketplace isn’t what it used to be”
      Industry convergence
      Retail transformation
      Disintermediation
      MG 220 Marketing Management
      13
    • Part 1: Understanding Marketing Management
      > Company Orientation towards the Marketplace
      > Fundamental Marketing Concepts, Trends and Tasks
      > Marketing & Customer Value
      Class Presentation | Session 2 | 19 Aug 2010