Session 2   MG 220 BBA - 11 Aug 10
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Session 2 MG 220 BBA - 11 Aug 10

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Session 2
Marketing Management
BBA

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  • 1. Part 1: Understanding Marketing Management
    > Remaining portion of Session 1
    > Fundamental Marketing Concepts, Trends and Tasks
    Class Presentation | Session 2 | 11 Aug 2010
  • 2. Fundamental Marketing ConceptsCore Concepts
    Needs
    Basic Human Requirements
    Wants
    Needs which are directed to a specific object
    Demands
    Wants for specific products backed by ability to pay (acquire)
    MG 220 Marketing Management
    2
  • 3. Fundamental Marketing ConceptsCore Concepts
    Understanding Needs
    Stated
    Real
    Unstated
    Delight
    Secret
    MG 220 Marketing Management
    3
    • Pair of jeans
    • 4. Quality
    • 5. Affordable, Branded
    • 6. A good discount deal
    • 7. ‘wanna’ look cool!!!
  • Fundamental Marketing ConceptsCore Concepts
    Satisfying everyone……how?
    Segmentation
    Different segments based on several factors
    Target Markets
    Segments presenting greatest opportunity
    Positioning
    Positioned carefully as delivering certain benefits….
    MG 220 Marketing Management
    4
  • 8. Fundamental Marketing ConceptsCore Concepts
    Offering
    Positioning is “crafted” into an offering
    Brands
    An offering from a known source
    MG 220 Marketing Management
    5
  • 9. Fundamental Marketing ConceptsCore Concepts
    Value
    ‘perceived’ tangible and intangible benefits and costs to customers
    Satisfaction
    Fulfillment of a need
    *WRONG*
    Person’s comparative judgments resulting from a product’s perceived performance
    If performance < expectations: dissatisfied/dissapointed
    If performance>=expectations: satisfied/delighted
    MG 220 Marketing Management
    6
  • 10. Fundamental Marketing ConceptsCore Concepts
    Marketing Channels
    Communication channels
    interacting with target buyers
    Distribution channels
    display, sell or deliver
    Service channels
    facilitating transactions with buyers
    MG 220 Marketing Management
    7
  • 11. Fundamental Marketing ConceptsCore Concepts
    Supply Chain
    Marketing Channel: Marketer to target buyer
    while
    Supply Chain: A complete value delivery system
    From Raw materials to components to final buyers
    MG 220 Marketing Management
    8
  • 12. Fundamental Marketing ConceptsCore Concepts
    Competition
    all the actual and potential rival offerings and substitutes that a buyer might consider
    Coke’s competition (?)
    MG 220 Marketing Management
    9
  • 13. Fundamental Marketing ConceptsCore Concepts
    Marketing Environment
    Task Environment
    Immediate actors involved in producing, distributing and promoting the offering
    Broad Environment
    Demographic Environment
    Economic Environment
    Physical Environment
    Technological Environment
    Political-legal Environment
    Social-cultural Environment
    MG 220 Marketing Management
    10
  • 14. Fundamental Marketing ConceptsCore Concepts
    Marketing Planning
    A Process consisting of:
    Analyzing marketing opportunities
    Selecting target markets
    Designing marketing strategies
    Developing marketing programs
    Managing the marketing effort
    MG 220 Marketing Management
    11
  • 15. Fundamental Marketing ConceptsShifts in Marketing Management
    From Marketing does the marketing to everyone does the marketing
    From organizing by product units to organizing by customer segments
    From Making everything to buying more goods and services from outside
    From using many suppliers to working with few “partners”
    From relying on old market positions to uncovering new ones
    From emphasizing tangible assets to emphasizing intangible assets
    From building brands through advertising to building brands through performance and integrated communication
    MG 220 Marketing Management
    12
  • 16. Fundamental Marketing ConceptsShifts in Marketing Management
    From attracting customers through stores and salespeople to making products available online
    From selling to everyone to trying to be the best firm serving well-defined target markets
    From focusing on profitable transactions to focusing on Customer Lifetime Value
    From a focus on gaining market share to a focus on building customer share
    From being Local to being “Glocal”
    From focusing on financial scorecard to focusing on marketing scorecard
    From focusing on shareholders to focus on stakeholders
    MG 220 Marketing Management
    13
  • 17. Fundamental Marketing ConceptsMarketing Management Tasks
    Developing Marketing Strategies and Plans
    Capturing Marketing Insights
    Connecting with customers
    Building strong brands
    Shaping the Market Offerings
    Delivering value
    Communicating value
    Creating Long-term growth
    MG 220 Marketing Management
    14
  • 18. Part 1: Understanding Marketing Management
    > Marketing & Customer Value
    > Corporate and Division Strategic Planning
    > Business Unit Strategic Planning
    > Product Planning: The Nature and Contents of a Marketing Plan
    Class Presentation | Session 3 | 16 Aug 2010