Ii mm.01.10


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Ii mm.01.10

  1. 1. Marketing Management MBA CP-205
  2. 2. Dates for the Course - 30 - 29 - 26 26 - - 23 23 22 - 19 19 19 16 16 16 15 13 - - 12 9 - 9 8 6 5 - - - 2 2 - Apr’10 Mar’10 Feb’10 Jan’10
  3. 3. Overview of the course <ul><li>Understanding Marketing Management. </li></ul><ul><li>Developing Marketing Strategies and Plans. </li></ul><ul><li>Gathering information and scanning the environment. </li></ul><ul><li>Conducting Marketing research. </li></ul><ul><li>Classification and Analysis of Markets. </li></ul><ul><li>Identifying Market segments and Targets. </li></ul><ul><li>Dealing with competition </li></ul><ul><li>Crafting the positioning strategy. </li></ul>
  4. 4. Overview of the course <ul><li>Developing Product Strategy. </li></ul><ul><li>Managing Services. </li></ul><ul><li>Developing Pricing strategy. </li></ul><ul><li>Developing Marketing Channels. </li></ul><ul><li>Developing and Managing Marketing Communications. </li></ul><ul><li>Managing Mass Communications. </li></ul><ul><li>Introducing new Market Offerings. </li></ul><ul><li>Managing a Holistic Marketing Organization. </li></ul>
  5. 5. Understanding Marketing Management
  6. 6. <ul><li>Learning Objectives: </li></ul><ul><li>Know why marketing is important. </li></ul><ul><li>Know what is the scope of marketing. </li></ul><ul><li>Know some fundamental marketing concepts. </li></ul><ul><li>Know how marketing management has changed. </li></ul><ul><li>Know what the necessary tasks are for successful marketing management. </li></ul>Understanding Marketing Management
  7. 7. <ul><li>Scope of Marketing </li></ul><ul><li>What is Marketing? </li></ul><ul><li>“ Marketing is an organizational function </li></ul><ul><li>and a set of processes for creating, </li></ul><ul><li>communicating, and delivering value </li></ul><ul><li>to customers and </li></ul><ul><li>for managing customer relationships </li></ul><ul><li>in ways that benefit the </li></ul><ul><li>organization and its stakeholders.” </li></ul>Understanding Marketing Management
  8. 8. <ul><li>What is Marketing? </li></ul><ul><li>“ Marketing management is the </li></ul><ul><li>art and science </li></ul><ul><li>of choosing target markets </li></ul><ul><li>and getting, keeping, and growing </li></ul><ul><li>customers through </li></ul><ul><li>creating, delivering, and communicating </li></ul><ul><li>superior customer value.” </li></ul>Understanding Marketing Management
  9. 9. <ul><li>What is Marketing? </li></ul><ul><li>“ Marketing is a societal process </li></ul><ul><li>by which individuals and groups obtain </li></ul><ul><li>what they need and want through </li></ul><ul><li>creating, offering, and freely exchanging </li></ul><ul><li>products and services of value </li></ul><ul><li>with others. ” </li></ul>Understanding Marketing Management
  10. 10. Selling is only the tip of the iceberg….. Understanding Marketing Management “ There will always be need for some selling. But the aim of marketing is to make selling superfluous. The aim of marketing is to know and understand the customer so well that the product or service fits him and sells itself. Ideally, marketing should result in a customer who is ready to buy. All that should be needed is to make the product or service available.” Peter Drucker
  11. 11. Designing the right product……. Understanding Marketing Management
  12. 12. Only the best is good enough for Lexus customers ……. Understanding Marketing Management
  13. 13. <ul><li>For an exchanges to occur…. </li></ul><ul><ul><ul><ul><ul><li>There are at least two parties. </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>Each party has something that might be of value to the other </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>party. </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>Each party is capable of communication and delivery. </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>Each party is free to accept or reject the exchange offer. </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>Each party believes it is appropriate or desirable to deal with </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>the other party. </li></ul></ul></ul></ul></ul>Understanding Marketing Management
  14. 14. <ul><li>Transaction on the other hand occurs when…. </li></ul><ul><ul><ul><ul><ul><li>There is a trade of values between two or more parties. </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>There are at least two things of value. </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>There are agreed upon conditions. </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>There is a time of agreement. </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>There is a place of agreement. </li></ul></ul></ul></ul></ul>Understanding Marketing Management
  15. 15. Are both forms of exchange? Understanding Marketing Management Transactions Transfers
  16. 16. What is marketed? Understanding Marketing Management Goods Experiences Persons Ideas Events Services Places Properties Organizations Information
  17. 17. Demand States…… Understanding Marketing Management Nonexistent Latent Declining Irregular Full Unwholesome Overfull Negative
  18. 18. Structure of Flows in a Modern Exchange Economy Understanding Marketing Management
  19. 19. Industry ( A collection of sellers ) Market ( A collection of buyers ) Communication Goods/Services Money Information A Simple Marketing System Understanding Marketing Management
  20. 20. Key Customer markets…. Understanding Marketing Management Consumer Markets Global Markets Nonprofit and Governmental Markets Business Markets
  21. 21. Market place is not what it used to be…. Understanding Marketing Management Deregulation Disintermediation Globalization Changing technology Privatization Customer Empowerment Customization Convergence
  22. 22. Company Orientations towards the Market Place Understanding Marketing Management Production concept Selling concept Holistic marketing concept Product concept
  23. 23. Production concept “ The production concept holds that consumers will prefer products that are widely available and inexpensive.” Understanding Marketing Management
  24. 24. Product concept “ The product concept holds that consumers will favor those products that offer the most quality, performance, or innovative features.” Understanding Marketing Management
  25. 25. Selling concept The selling concept holds that consumers and businesses, will ordinarily not buy enough of the organization’s products, therefore, the organization must undertake aggressive selling and promotion effort.” Understanding Marketing Management
  26. 26. Marketing concept “ The marketing concept holds that the key to achieving organizational goals consists of the company being more effective than competitors in creating, delivering, and communicating superior customer value to its chosen target markets.” Understanding Marketing Management
  27. 27. Factory Products Selling and Profits through promoting sales volume Target Customer Integrated Profits through market Needs marketing customer satisfaction The Selling concept The Marketing concept Starting point Focus Means Ends Determinants of customer delivered value Understanding Marketing Management
  28. 28. Holistic Marketing concept “ Holistic marketing can be seen as the development, design, and implementation of marketing programs, processes, and activities that recognizes the breath and interdependencies of their efforts. Holistic marketing recognizes that ‘ everything matters’ with marketing—the consumer, employees, other companies, competition, as well as society as a whole.” Understanding Marketing Management
  29. 29. Marketing Department Holistic Marketing dimensions Understanding Marketing Management Senior Management Other Departments Communications Products and Services Channels Ethics Environment Legal Community Customers Suppliers Channel Partners Holistic Marketing Internal Marketing Socially Responsible Marketing Integrated Marketing Relationship Marketing Employees
  30. 30. The Four P Components of the Marketing Mix Marketing Mix Product Product variety Quality Design Features Brand name Packaging Sizes Services Warranties Returns Price List Price Discounts Allowances Payment period Credit terms Promotion Sales promotion Advertising Sales force Public relations Direct marketing Place Channels Coverage Assortments Locations Inventory transport Target Market Understanding Marketing Management
  31. 31. Company Product Services prices Offering mix Direct mail telemarketing and internet Public relations Sales force Advertising Sales Promotion Distribution Channels Target customers Communications mix Marketing Mix Strategy Understanding Marketing Management
  32. 32. Understanding Marketing Management Marketing Mix and the customer <ul><li>Four Ps </li></ul><ul><li>Product </li></ul><ul><li>Price </li></ul><ul><li>Place </li></ul><ul><li>Promotion </li></ul><ul><li>Four Cs </li></ul><ul><li>Customer solution </li></ul><ul><li>Customer cost </li></ul><ul><li>Convenience </li></ul><ul><li>Communication </li></ul>
  33. 33. Traditional Organizational chart Understanding Marketing Management Top Manage ment Middle management Front line people Customers
  34. 34. Customers Front line people Middle management Top Manage ment C U S T O M E R S C U S T O M E R S Modern customer oriented Organizational chart Understanding Marketing Management
  35. 35. <ul><li>Key Marketing Concepts and Tools </li></ul><ul><li>Needs, wants, and demands. </li></ul><ul><li>Target markets, positioning, segmentation. </li></ul><ul><li>Offerings and brands. </li></ul><ul><li>Value and satisfaction. </li></ul><ul><li>Marketing Channels. </li></ul><ul><li>Supply Chain. </li></ul><ul><li>Competition. </li></ul><ul><li>Levels of Competition. </li></ul><ul><li>Marketing planning. </li></ul><ul><li>Marketing Environment. </li></ul><ul><li>Task Environment and Broad Environment. </li></ul>Understanding Marketing Management
  36. 36. <ul><li>The broad environment consists of: </li></ul><ul><li>Demographic environment </li></ul><ul><li>Economic environment </li></ul><ul><li>Natural environment </li></ul><ul><li>Technological environment </li></ul><ul><li>Politico-legal environment </li></ul><ul><li>Social environment </li></ul>Understanding Marketing Management
  37. 37. <ul><li>Marketing Planning Process </li></ul><ul><li>The Marketing Planning Process consists of: </li></ul><ul><li>Analyzing marketing opportunities. </li></ul><ul><li>Selecting Target Markets. </li></ul><ul><li>Designing marketing strategies. </li></ul><ul><li>Developing marketing programmes. </li></ul><ul><li>Managing the marketing effort. </li></ul>Understanding Marketing Management
  38. 38. Factors influencing Company Marketing Strategy Understanding Marketing Management
  39. 39. <ul><li>Marketing Management Tasks </li></ul><ul><li>The core concepts provide the input for a set of tasks that make up successful marketing management. The tasks include: </li></ul><ul><li>Developing marketing strategies and plans. </li></ul><ul><li>Capturing marketing insights. </li></ul><ul><li>Connecting with customers. </li></ul><ul><li>Building strong brands. </li></ul><ul><li>Shaping the market offerings. </li></ul><ul><li>Delivering the value. </li></ul><ul><li>Communicating value. </li></ul><ul><li>Creating long term growth. </li></ul>Understanding Marketing Management
  40. 40. <ul><li>Recap: </li></ul><ul><li>Why marketing is important. </li></ul><ul><li>What is the scope of marketing. </li></ul><ul><li>Some fundamental marketing concepts. </li></ul><ul><li>How marketing management has changed. </li></ul><ul><li>What the necessary tasks are for successful marketing management. </li></ul>Understanding Marketing Management