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Session 2   MG 220 MBA - 19 Aug 10
 

Session 2 MG 220 MBA - 19 Aug 10

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Session 2

Session 2
Marketing Management
MBA 10

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

    • 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
    • Company Orientations toward the marketplace
      Different approaches companies use for marketing
      Production
      Product
      Selling
      Marketing
      Holistic Marketing
      MG 220 Marketing Management
      2
    • Company Orientations toward the marketplace
      The Production Concept
      Consumers will favor products that are “widely available” & “inexpensive”
      Focus on “Production”
      The Product Concept
      Consumer will favor those products that offer the most quality, performance or innovation
      Focus entirely on “Product development”
      What if: not priced, distributed, advertised and sold properly?
      MG 220 Marketing Management
      3
    • Company Orientations toward the marketplace
      The Selling Concept
      Customers (consumers & businesses), if not engaged, will not buy enough
      Aggressive selling & promotion is required
      Practiced with unsought goods
      The Marketing Concept
      Replace product-centred “make-and-sell” with “sense-and-respond”
      Reactive market orientation
      Proactive market orientation
      MG 220 Marketing Management
      4
    • Company Orientations toward the marketplace
      The Holistic Marketing Concept
      “Everything matters”
      Based on the development, design and implementation of marketing programs, processes, and activities that recognizes their breadth and interdependenices
      4 Components
      Relationship marketing
      Integrated marketing
      Internal marketing
      Social responsibility marketing
      MG 220 Marketing Management
      5
    • Company Orientations toward the marketplace
      MG 220 Marketing Management
      6
    • Company Orientations toward the marketplace
      MG 220 Marketing Management
      7
    • Company Orientations toward the marketplace
      MG 220 Marketing Management
      8
    • Company Orientations toward the marketplace
      MG 220 Marketing Management
      9
    • 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
      10
    • Fundamental Marketing ConceptsCore Concepts
      Understanding Needs
      Stated
      Real
      Unstated
      Delight
      Secret
      MG 220 Marketing Management
      11
      • Pair of jeans
      • Quality
      • Affordable, Branded
      • A good discount deal
      • ‘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
      12
    • Fundamental Marketing ConceptsCore Concepts
      Offering
      Positioning is “crafted” into an offering
      Brands
      An offering from a known source
      MG 220 Marketing Management
      13
    • 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
      14
    • 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
      15
    • 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
      16
    • 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
      17
    • 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
      18
    • 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
      19
    • 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
      20
    • 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
      21
    • 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
      22
    • Marketing & Customer ValueThe Value Delivery Process
      MG 220 Marketing Management
      23
    • Marketing & Customer ValueThe Value Delivery Process
      MG 220 Marketing Management
      24
    • Marketing & Customer ValueThe Value Chain
      A tool for identifying ways to create more customer value
      Every firm is a synthesis of activities performed to design, produce, market, deliver and support its product
      Primary Activities (producing & marketing)
      Support Activities (management of firm)
      MG 220 Marketing Management
      25
    • Marketing & Customer ValueThe Value Chain
      Firm should estimate its competitors’ costs and performances as ‘benchmarks’ against which it compares its own costs and performance
      Success depends on ‘core business processes’
      Market sensing
      Offering realization
      Customer Acquisition
      Customer Realization
      Fulfillment management
      MG 220 Marketing Management
      26
    • Marketing & Customer ValueThe Value Chain
      MG 220 Marketing Management
      27
    • Marketing & Customer ValueCore Competences
      Outsource the less critical
      Focus on Core Competency
      Characteristics of Core Competency:
      A Source of competitive advantage
      Has Application in a wide variety of markets
      Difficult for competitors to imitate
      MG 220 Marketing Management
      28
    • Marketing & Customer ValueA Holistic Marketing Orientation & Customer Value
      MG 220 Marketing Management
      29
      Customer
      Company
      Partners
      Designing
      Developing
      Delivering
    • Marketing & Customer ValueThe Central Role of Strategic Planning
      All the successful brands:
      Focus on Customers
      Respond effectively to changing customer needs
      Have well-staffed marketing departments
      And all other departments in their organizations understand: “CUSTOMER IS THE KING”
      MG 220 Marketing Management
      30
    • Marketing & Customer ValueThe Central Role of Strategic Planning
      Levels in Strategic Planning [Typical]
      Corporate Level
      Division Level
      Business Unit Level
      Product Level
      Marketing Plan is central instrument for directing and coordinating marketing effort
      Strategic marketing plan
      Lays out target markets & value proposition
      Tactical marketing plan
      Specifics of marketing activities
      MG 220 Marketing Management
      31
    • Marketing & Customer ValueThe Central Role of Strategic Planning
      MG 220 Marketing Management
      32
    • Part 1: Understanding Marketing Management
      > Corporate and Division Strategic Planning
      > Business Unit Strategic Planning
      > Product Planning: The Nature and Contents of a Marketing Plan
      Class Presentation | Session 3 | 23 Aug 2010