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07 Marketing Management

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07 Marketing Management

07 Marketing Management

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  • 1. MARKETING MANAGEMENT Lecture Notes for Business Introduction By Fahmy Radhi
  • 2. Marketing Concepts
    • Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of idea, goods, and service to create exchanges that satisfy individual and organizational objective
    • Marketing Mix is the combination of products, price, promotion, and distribution, used to satisfy the needs of the target market
  • 3. Product Variety Quality Design Features Brand Name Packaging Services Price List price Discounts Allowances Credit Terms Promotion Advertising Personal Selling Sales Promotion Public Relations Place Channels Coverage Assortments Locations Inventory Transportation Logistics Target Costumers Intended Positioning Marketing Mix
  • 4. Marketing Activities
    • Product:
    • Develop new products
    • Modify existing products
    • Test-market products
    • Select brand name
    • Package product
    • Pricing:
    • Establish price objectives
    • Conduct cost analysis
    • Analyze competitor’s price
    • Set actual prices
  • 5. Marketing Activities
    • Promotion:
    • Determine types of promotion
    • Design the advertising massage
    • Selecting advertising media
    • Schedule the advertisements
    • Distribution:
    • Select wholesalers and retailers
    • Establish procedures for handling and moving products
    • Find the best locations for plants, warehouses and retail outlets
  • 6. Market
    • Market is people with the authority, financial ability, and willingness to purchase a product
    • Types of Market:
    • Consumer market - for personal use
    • Industrial market - to use in the production or resell
  • 7. Target Marketing
    • Target market - a group of people that has similar wants and needs which a firm directs its marketing activities
    • Undifferentiated approach – one marketing mix for a product to the total market
    • Market Segmentation approach – the division of the total market into segment with marketing mix directed to different segment
  • 8. Market Segmentation
    • Market segment – division of heterogonous market into homogonous market based on different characteristics
    • Segmentation Based:
    • Geographic bases - city, region
    • Demographic bases - sex, race, marital
    • Psychographics - a person’s attitude, lifestyle
    • Product-related - brand loyalty
  • 9. PRODUCT
    • Product - a good, service or idea, including all attributes provided in an exchange between buyer and seller
    • Product Classification :
    • Consumer goods – products purchased by consumers for personal use
    • Industrial goods – product purchased by companies to produce other products
  • 10. Classifying Goods
    • Consumer Goods :
    • Convenience good – inexpensive and regularly consumed
    • Shopping goods – moderately expensive and infrequently
    • Specialty goods – expensive and rarely
    • Industrial goods :
    • Raw material
    • Components parts
    • Equipment and installations
    • Services
  • 11. Product Line and Product Mix
    • Product Line - a group of related products that are considered a unit because of marketing, technical or use similarity
    •   Product Mix - the total group of product offer sale, or all of the firm’s product lines
    • Product Differentiation – creation of product or product image that differs from existing product to attract consumers
  • 12. Product Attributes
    • Brand - a name, sign, symbol, design, or combination a company’s product to distinguish it product from others
    • Packaging - the development of a container and graphic design for a product
    •   Labeling - the display of important information on a product package
  • 13. PRICING
    • Price - the value that buyer exchange for a product in the marketing transaction
    • Pricing Objective :
      • Market share
      • Profit
      • Return on Investment
      • Status Quo
  • 14. Pricing Decision and Methods
    • Factors in Pricing Decisions:
      • Price and non-price competition
      • Supply and demand
      • Consumer perception of price
    • Pricing Methods:
      • Cost-Oriented Pricing - Mark-up Pricing
      • Demand-Oriented Pricing - Break event point
      • Competition Oriented Pricing
  • 15. Pricing Strategies
    • Pioneer pricing – leadership pricing in the market
    • Price skimming – setting an initial high price to cover new product cost and generate a profit
    • Penetration pricing – setting an initial low price to establish a new product in the market
    • Psychological Pricing – setting an initial high price to respond irrationally consumers
    • Price Discounting – Price reduction offered as an incentive to purchase
  • 16. PROMOTION
    • Promotion - t he communication of favorable, persuasive information about a firm or product in order to influential buyers
    • Promotional Objectives:
    • Informing
    • Increasing sales
    • Stabilizing sales
    • Positioning the product
    • Building a public image
  • 17. The Promotion Mix
    • Promotion Mix - the combination of advertising, personal selling, sales promotion, publicity used to promote a specific product
  • 18. Advertising
    • Non-personal communication to a target audience through a mass medium, such as TV, Radio, newspapers, or magazines, and outdoor display
    • Types of Advertising:
      • Primary-Demand Advertising: for all products
      • Selective Brand Advertising: for specific products
      • Institutional Advertising: create public image
  • 19. Advertising Promotion
    • Advertising Media – variety of communication devices for carrying massage to potential customers
    • Direct Mail – delivery massage directly to customer places
    • Internet Advertising – put the massage into website or mailed directly to customer email
  • 20. Personal Selling
    • Person-to-person communication with one or more prospective customers in order to make sale
    • Telemarketing – using telephone to perform the personal selling process
    • Types of Salespeople:
      • Order Getter
      • Order taker
      • Support salespeople
  • 21. Sales Promotion
    • An activity that offers customers or marketing intermediaries direct incentives for purchasing a product
    •   Type of Sales Promotion:
      • Coupon: reduces the price of a product by stated amount at the time of purchase
      • Rebate: an extra discount
      • Free Sample
      • Contest: consumer compete for prizes
      • Trade show
  • 22. Publicity and Public Relation
    • Publicity - a non-personal form of communication transmitted in news story form and not paid for directly sponsor
    •  
    • Public Relations - a set of communication activities designed to create and maintain a favorable public image for firm
    •  
  • 23. Major Public Relation Tools Special Events Written Materials Public Service Activities Speeches News Audiovisual Materials Corporate Identity Materials Web Site
  • 24. Promotional Strategy:
    • Push Strategy : promotion of a product to wholesaler or retailers in the marketing channel, who in turn promote the product to consumers
    • Pull Strategy: promotion of a product direct to consumers to stimulate strong consumer demands
  • 25. DISTRIBUTION
    • Channel of Distribution - a group of interrelated organization that directs the flow of products from producers to ultimate consumers
    • Marketing Intermediary - a n individual or organization in marketing channel that provides a link among producers, other channel members, and final consumer
  • 26. Type of Marketing Channels:
    • Consumer Products:
    • Producer-consumer: plant and flower, services
    • Producer-retailer-consumer: automobile, furniture
    • Producer-wholesaler-retailer-consumer: e.g. convenience goods
    • Producer-Agent/broker-wholesaler-retailer-consumer: e.g. consumer products
  • 27. Type of Marketing Channels
    • Industrial Products:
    • producer-industrial user: heavy equipment and machinery
    • producer-wholesaler-industrial user: tools and automotive parts
  • 28.  
  • 29. Distribution Overages
    • Intensity Distribution - m arket coverage in which all available outlets are used for distributing a product
    •   Selective Distribution - Market coverage in which only some of the available outlets are used for distributing a product
    •   Exclusive Distribution - Market coverage in which one outlet is used in specific geographic area for distributing a product
  • 30. Wholesaling
    • The marketing activities of intermediates who sell to retailer, industrial users, and other wholesalers.
    • Types of Wholesalers:
    • Merchant Wholesaler: takes ownership of goods and the risks associated with ownership
    • Sales Branch: a manufacture-owned wholesaler that take title to products, risks, and provides service
    • Agent: a wholesaler hired by a buyer or seller on a permanent basis and paid commissions
    • Broker: a wholesaler who bring together buyers and seller on temporary basis
  • 31. Retailing
    • The marketing activities involved in selling products to final consumers for personal or household use
    • Department Store: a large retailer organized into separate departments and offering a full line of services and wide product mix
    • Supermarket: a large self-service retailer that stock a wide variety of groceries and a limited assortment of nonfood products
  • 32. Retailing
    • Catalog Showroom: a form of warehouse show-room where customers select products from catalogs sent to customers’ homes or available in the store
    • Direct Marketing: non-store retailing that uses non-personal media to introduce products to consumers who then purchase the product by mail, telephone, computer, or TV
  • 33. Physical Distribution
    • Those activities that involve the movement of products through marketing channels from manufacturer to customer, including:
    • Transportation: shipping goods to customers by rail, air, truck, water, and pipeline
    • Warehousing : the receiving, storing, and shipping activities involved in the physical distribution of goods
    • Order Processing: the receipt and preparation of an order for shipment
    • Material Handling: the physical handling of products during transportation and warehousing
  • 34. Basic Channels of Distribution Manufacturers/products Agents/brokers Wholesalers/distributors Retailers Retailers Consumers and organizational end users
  • 35. Typical Distribution of Drugs Manufacturers Marketing Agents Retailers/Wholesalers/Distributors Patient Public Hospitals / Institutions Private GPs/specialists Group Procurement Office Retail Pharmacy

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