Session 2 MG 220 BBA - 11 Aug 10


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Session 2
Marketing Management

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Session 2 MG 220 BBA - 11 Aug 10

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