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Session 2   MG 220 MBA - 19 Aug 10
Session 2   MG 220 MBA - 19 Aug 10
Session 2   MG 220 MBA - 19 Aug 10
Session 2   MG 220 MBA - 19 Aug 10
Session 2   MG 220 MBA - 19 Aug 10
Session 2   MG 220 MBA - 19 Aug 10
Session 2   MG 220 MBA - 19 Aug 10
Session 2   MG 220 MBA - 19 Aug 10
Session 2   MG 220 MBA - 19 Aug 10
Session 2   MG 220 MBA - 19 Aug 10
Session 2   MG 220 MBA - 19 Aug 10
Session 2   MG 220 MBA - 19 Aug 10
Session 2   MG 220 MBA - 19 Aug 10
Session 2   MG 220 MBA - 19 Aug 10
Session 2   MG 220 MBA - 19 Aug 10
Session 2   MG 220 MBA - 19 Aug 10
Session 2   MG 220 MBA - 19 Aug 10
Session 2   MG 220 MBA - 19 Aug 10
Session 2   MG 220 MBA - 19 Aug 10
Session 2   MG 220 MBA - 19 Aug 10
Session 2   MG 220 MBA - 19 Aug 10
Session 2   MG 220 MBA - 19 Aug 10
Session 2   MG 220 MBA - 19 Aug 10
Session 2   MG 220 MBA - 19 Aug 10
Session 2   MG 220 MBA - 19 Aug 10
Session 2   MG 220 MBA - 19 Aug 10
Session 2   MG 220 MBA - 19 Aug 10
Session 2   MG 220 MBA - 19 Aug 10
Session 2   MG 220 MBA - 19 Aug 10
Session 2   MG 220 MBA - 19 Aug 10
Session 2   MG 220 MBA - 19 Aug 10
Session 2   MG 220 MBA - 19 Aug 10
Session 2   MG 220 MBA - 19 Aug 10
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Session 2 MG 220 MBA - 19 Aug 10

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Session 2 …

Session 2
Marketing Management
MBA 10

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  1. Part 1: Understanding Marketing Management<br />> Company Orientation towards the Marketplace<br />> Fundamental Marketing Concepts, Trends and Tasks<br />> Marketing & Customer Value<br />Class Presentation | Session 2 | 19 Aug 2010<br />
  2. 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 />2<br />
  3. 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 />3<br />
  4. 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 />4<br />
  5. 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 />5<br />
  6. Company Orientations toward the marketplace<br />MG 220 Marketing Management<br />6<br />
  7. Company Orientations toward the marketplace<br />MG 220 Marketing Management<br />7<br />
  8. Company Orientations toward the marketplace<br />MG 220 Marketing Management<br />8<br />
  9. Company Orientations toward the marketplace<br />MG 220 Marketing Management<br />9<br />
  10. 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 />10<br />
  11. Fundamental Marketing ConceptsCore Concepts<br />Understanding Needs<br />Stated<br />Real<br />Unstated<br />Delight<br />Secret<br />MG 220 Marketing Management<br />11<br /><ul><li>Pair of jeans
  12. Quality
  13. Affordable, Branded
  14. A good discount deal
  15. ‘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 />12<br />
  16. 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 />13<br />
  17. 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 />14<br />
  18. 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 />15<br />
  19. 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 />16<br />
  20. 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 />17<br />
  21. 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 />18<br />
  22. 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 />19<br />
  23. 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 />20<br />
  24. 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 />21<br />
  25. 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 />22<br />
  26. Marketing & Customer ValueThe Value Delivery Process<br />MG 220 Marketing Management<br />23<br />
  27. Marketing & Customer ValueThe Value Delivery Process<br />MG 220 Marketing Management<br />24<br />
  28. Marketing & Customer ValueThe Value Chain<br />A tool for identifying ways to create more customer value<br />Every firm is a synthesis of activities performed to design, produce, market, deliver and support its product<br />Primary Activities (producing & marketing)<br />Support Activities (management of firm)<br />MG 220 Marketing Management<br />25<br />
  29. Marketing & Customer ValueThe Value Chain<br />Firm should estimate its competitors’ costs and performances as ‘benchmarks’ against which it compares its own costs and performance<br />Success depends on ‘core business processes’<br />Market sensing<br />Offering realization<br />Customer Acquisition<br />Customer Realization<br />Fulfillment management<br />MG 220 Marketing Management<br />26<br />
  30. Marketing & Customer ValueThe Value Chain<br />MG 220 Marketing Management<br />27<br />
  31. Marketing & Customer ValueCore Competences<br />Outsource the less critical<br />Focus on Core Competency<br />Characteristics of Core Competency:<br />A Source of competitive advantage<br />Has Application in a wide variety of markets<br />Difficult for competitors to imitate<br />MG 220 Marketing Management<br />28<br />
  32. Marketing & Customer ValueA Holistic Marketing Orientation & Customer Value<br />MG 220 Marketing Management<br />29<br />Customer<br />Company<br />Partners<br />Designing<br />Developing<br />Delivering<br />
  33. Marketing & Customer ValueThe Central Role of Strategic Planning<br />All the successful brands:<br />Focus on Customers<br />Respond effectively to changing customer needs<br />Have well-staffed marketing departments<br />And all other departments in their organizations understand: “CUSTOMER IS THE KING”<br />MG 220 Marketing Management<br />30<br />
  34. Marketing & Customer ValueThe Central Role of Strategic Planning<br />Levels in Strategic Planning [Typical]<br />Corporate Level<br />Division Level<br />Business Unit Level<br />Product Level<br />Marketing Plan is central instrument for directing and coordinating marketing effort<br />Strategic marketing plan<br />Lays out target markets & value proposition<br />Tactical marketing plan<br />Specifics of marketing activities<br />MG 220 Marketing Management<br />31<br />
  35. Marketing & Customer ValueThe Central Role of Strategic Planning<br />MG 220 Marketing Management<br />32<br />
  36. Part 1: Understanding Marketing Management<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 | 23 Aug 2010<br />

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