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Marketing Management
Md. Abdul Hamid
Assistant Professor
Dept. of Business AdministrationDept. of Business Administration
...
the act or process of selling or
purchasing
the process or technique ofthe process or technique ofthe process or technique...
Marketing…Marketing…
“the process of planning and executing
the conception, pricing, promotion, and distribution
of ideas,...
WantsWantsWantsWants…………
“when needs are shaped by consumers’
culture it can be treated as wants.”
Demand
Human wants
that are backed by
buying power
Market
“the set of all
actual and potential buyers
of a Product”
“Marketing deals with identifying and meeting social needs”
SatisfactionSatisfactionSatisfactionSatisfactionSatisfactionSatisfactionSatisfactionSatisfaction
“…. is the feeling of ple...
Marketing strategy…
“the marketing logic(s)“the marketing logic(s)
by which
the business unit hopes
to achieve its marketi...
Goods...book, pen
Services…teacher, doctor, programmer
Experiences… magic, park
Events...IPL, Close up1
Persons…C. Ronaldo...
Production concept… holds that consumers will
prefer products that are widely available and inexpensive.
Product concept… ...
Marketing concept…Marketing concept…
Customer orientation
Integrated marketing
Customer satisfaction
Relationship marketing…Relationship marketing…Relationship marketing…Relationship marketing…cultivating the right kind of ...
DevelopingDevelopingDevelopingDeveloping… m. strategies and plans
CapturingCapturingCapturingCapturing… m. insights
Connec...
Globalization
Technology
Customer empowerment
Stiff competition
Powerful mediaPowerful media
Deregulation
Privatization
Cu...
Basic marketing: The salesperson simply sells the
product.
Reactive marketing: The salesperson sells the product
and encou...
WorldwideWorldwideWorldwideWorldwide populationpopulationpopulationpopulation growthgrowthgrowthgrowth............India, C...
growing debt problems in developing economies
the speeding up of international transportation,
financial transactions, and...
…income…income…income…income
…prices…prices…prices…prices
…savings…savings…savings…savings
…debt, and…debt, and…debt, and…...
Mass marketing
Customized marketing
Market Segmentation
A market segmentA market segmentA market segmentA market segment
consists of a large identifiable groupconsists of a large...
to find the best customers for ato find the best customers for ato find the best customers for ato find the best customers...
Survey StageSurvey StageSurvey StageSurvey Stage: go out and learn something about your
market.
What do its members like a...
demographicdemographicdemographicdemographic variables like age, gender, and family size.
psychographicpsychographicpsycho...
Measurable: able to measure the size, purchasing power,
and characteristics of the segment. Otherwise, you won’t be able
t...
Sales information systemsSales information systemsSales information systemsSales information systems,…
…provide current sa...
Marketing Decision Support System…Marketing Decision Support System…Marketing Decision Support System…Marketing Decision S...
“… the systematic and
objective identification, collection, analysis,
dissemination, and use of information
for the purpos...
Problem definitionProblem definitionProblem definitionProblem definition
Development of an approach to theDevelopment of a...
Market demand…Market demand…Market demand…Market demand…
…the total volume that would be bought by a…the total volume that...
Company sales potentialCompany sales potentialCompany sales potentialCompany sales potential
Company sales potential is th...
Business missionBusiness missionBusiness missionBusiness mission …a clearly stated statement that will ultimately
focus on...
…analyzing market opportunities
…developing marketing strategies
… planning marketing programs… planning marketing program...
Executive SummaryExecutive SummaryExecutive SummaryExecutive Summary
Table of ContentsTable of ContentsTable of ContentsTa...
Arranged hierarchically from most important to leastArranged hierarchically from most important to leastArranged hierarchi...
Cultural factors: Culture, Sub-culture, Social class
Reference groups
Family
Role
& Status& Status
Age…stage in the life cycle
Occupation…economic
circumstances
Personality and selfPersonality and self
concept
Lifestyle a...
MotivationMotivationMotivationMotivation…………
Freud’s Theory people’s behavior are largely
unconscious
Maslow’s Theory huma...
PerceptionPerceptionPerceptionPerception… converting any stimulus in
your own psychology
LearningLearningLearningLearning…...
Your mother (the initiator) suggests that you might
think about buying your father a new dress for his
birthday.
You ask y...
Nature of Business buying decisionsNature of Business buying decisionsNature of Business buying decisionsNature of Busines...
Business Buying Process…
New task… buying for the first time
Straight rebuy… reorder or rescheduling without
modification
Modified rebuy… reorder w...
Influencing factors on Business Buying Decisions
InitiatorsInitiatorsInitiatorsInitiators. Those who request that something be purchased.
They may be users or other people...
Marketing Management Slides
Marketing Management Slides
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Marketing Management Slides
Marketing Management Slides
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Marketing Management Slides

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Marketing Management Slides

  1. 1. Marketing Management Md. Abdul Hamid Assistant Professor Dept. of Business AdministrationDept. of Business Administration Shahjalal University of Science and Technology Bangladesh (Now living in Denmark, Slovenia and Spain for higher studies. Can be reached at mahamid.biz@gmail.com)
  2. 2. the act or process of selling or purchasing the process or technique ofthe process or technique ofthe process or technique ofthe process or technique of promoting, selling, andpromoting, selling, andpromoting, selling, andpromoting, selling, and distributing a product or servicedistributing a product or servicedistributing a product or servicedistributing a product or service
  3. 3. Marketing…Marketing… “the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchange that satisfy individual and organizational goals.”
  4. 4. WantsWantsWantsWants………… “when needs are shaped by consumers’ culture it can be treated as wants.”
  5. 5. Demand Human wants that are backed by buying power Market “the set of all actual and potential buyers of a Product”
  6. 6. “Marketing deals with identifying and meeting social needs”
  7. 7. SatisfactionSatisfactionSatisfactionSatisfactionSatisfactionSatisfactionSatisfactionSatisfaction “…. is the feeling of pleasure or displeasure that customers feel when they compare the experience of a product with their expectations.”
  8. 8. Marketing strategy… “the marketing logic(s)“the marketing logic(s) by which the business unit hopes to achieve its marketing objectives.
  9. 9. Goods...book, pen Services…teacher, doctor, programmer Experiences… magic, park Events...IPL, Close up1 Persons…C. Ronaldo, MZI Places… Cox’sbazar, JaflongPlaces… Cox’sbazar, Jaflong Properties… real estate, securities Organizations… Red-cross, universities, Adhunik Information… TV news, brokerage house Ideas… consultants, architect
  10. 10. Production concept… holds that consumers will prefer products that are widely available and inexpensive. Product concept… holds that consumers will favor those products that offer the most quality, performance, orthose products that offer the most quality, performance, or innovative features. Selling concept… holds that consumers and businesses, if left alone, will ordinarily not buy enough of the organization’s products. The organization must, therefore, undertake an aggressive selling and promotion effort.
  11. 11. Marketing concept…Marketing concept… Customer orientation Integrated marketing Customer satisfaction
  12. 12. Relationship marketing…Relationship marketing…Relationship marketing…Relationship marketing…cultivating the right kind of relationships with the right constituent groups (customers, channels, partners, media, govt. etc) Integrated marketing…Integrated marketing…Integrated marketing…Integrated marketing…product offerings, price levels, communication efforts, channel membersefforts, channel members Internal marketing…Internal marketing…Internal marketing…Internal marketing…ensuring that every one in the organization embraces appropriate marketing principles (top to bottom… apply marketing orientation) Social responsibility marketing…Social responsibility marketing…Social responsibility marketing…Social responsibility marketing…ethical, environmental, legal, and social context of marketing activities get priority
  13. 13. DevelopingDevelopingDevelopingDeveloping… m. strategies and plans CapturingCapturingCapturingCapturing… m. insights ConnectingConnectingConnectingConnecting… customers BuildingBuildingBuildingBuilding… strong brandsBuildingBuildingBuildingBuilding… strong brands ShapingShapingShapingShaping… market offering CommunicatingCommunicatingCommunicatingCommunicating…value CreatingCreatingCreatingCreating… long term growth
  14. 14. Globalization Technology Customer empowerment Stiff competition Powerful mediaPowerful media Deregulation Privatization Customization Industry convergence Disintermediation
  15. 15. Basic marketing: The salesperson simply sells the product. Reactive marketing: The salesperson sells the product and encourages the customer to call if he or she has questions or complaints. Accountable marketing: The salesperson contacts theAccountable marketing: The salesperson contacts the customer a short while after making the sale to check whether the product is meeting expectations. Proactive marketing: The salesperson contacts the customer from time to time with information about new products and product uses. Partnership marketing: The company works continuously with the customer to discover ways to perform better.
  16. 16. WorldwideWorldwideWorldwideWorldwide populationpopulationpopulationpopulation growthgrowthgrowthgrowth............India, China, Africa, Bangladesh(1.37 percent) PopulationPopulationPopulationPopulation ageageageage mixmixmixmix………… Mexico (young populations). Japan (old populations) EthnicEthnicEthnicEthnic marketsmarketsmarketsmarkets………… showing respect to the preferences of small ethnic groups EducationalEducationalEducationalEducational groupsgroupsgroupsgroups………… illiterates, high school dropouts, high schoolEducationalEducationalEducationalEducational groupsgroupsgroupsgroups………… illiterates, high school dropouts, high school degrees, college degrees, and professional degrees. HouseholdHouseholdHouseholdHousehold patternspatternspatternspatterns………… nuclear family, single parents, living together, divorcee, career centered etc. How do you expect household patterns to change in the next 20 years? Geographical shifts in population…Geographical shifts in population…Geographical shifts in population…Geographical shifts in population… urban life (employment), natural calamities (safety), migration to develop countries (Canada, USA, Australia)
  17. 17. growing debt problems in developing economies the speeding up of international transportation, financial transactions, and communication the move to market economies in former communist countriescountries an explosion of strategic alliances among multinational companies the rise of trade blocs in the Europe and North America the rapid dissemination of global lifestyles
  18. 18. …income…income…income…income …prices…prices…prices…prices …savings…savings…savings…savings …debt, and…debt, and…debt, and…debt, and …credit…credit…credit…credit availabilityavailabilityavailabilityavailability
  19. 19. Mass marketing Customized marketing Market Segmentation
  20. 20. A market segmentA market segmentA market segmentA market segment consists of a large identifiable groupconsists of a large identifiable groupconsists of a large identifiable groupconsists of a large identifiable group withinwithinwithinwithin a marketa marketa marketa market with similar wants, purchasing power,with similar wants, purchasing power,with similar wants, purchasing power,with similar wants, purchasing power,with similar wants, purchasing power,with similar wants, purchasing power,with similar wants, purchasing power,with similar wants, purchasing power, geographical location, buying attitudes,geographical location, buying attitudes,geographical location, buying attitudes,geographical location, buying attitudes, or buying habits.or buying habits.or buying habits.or buying habits.
  21. 21. to find the best customers for ato find the best customers for ato find the best customers for ato find the best customers for a particular companyparticular companyparticular companyparticular company to help that company tailor itsto help that company tailor itsto help that company tailor itsto help that company tailor its operations to those particularoperations to those particularoperations to those particularoperations to those particularoperations to those particularoperations to those particularoperations to those particularoperations to those particular customers.customers.customers.customers.
  22. 22. Survey StageSurvey StageSurvey StageSurvey Stage: go out and learn something about your market. What do its members like and dislike? What’s important to them? Who are they? Where do they come from?Where do they come from? Analysis StageAnalysis StageAnalysis StageAnalysis Stage: process your data, getting rid of statistical irregularities and focusing on the most significant clusters of potential customers. ProfilingProfilingProfilingProfiling StageStageStageStage:come up with a description of each cluster, a profile that will help you think about how to market to that particular group.
  23. 23. demographicdemographicdemographicdemographic variables like age, gender, and family size. psychographicpsychographicpsychographicpsychographic categories like lifestyle, personality, and values. behavior:behavior:behavior:behavior: potential customers’ knowledge of, attitude toward, use of, or response to your product. FOR BUSINESS PRODUCTS ?FOR BUSINESS PRODUCTS ?FOR BUSINESS PRODUCTS ?FOR BUSINESS PRODUCTS ? geographygeographygeographygeography benefits sought orbenefits sought orbenefits sought orbenefits sought or usage rate.usage rate.usage rate.usage rate.
  24. 24. Measurable: able to measure the size, purchasing power, and characteristics of the segment. Otherwise, you won’t be able to compare it effectively to other segments. Substantial: have enough members and enough buying power to justify targeting it. Accessible: able to get your message and your product to the segment. Accessible: segment. Differentiable: made up of people who respond in a unique way to particular marketing-mix elements and programs. If two groups respond the same way to a television commercial, they do not constitute two different segments. Actionable: able to devise an effective marketing strategy on the basis of the segment.
  25. 25. Sales information systemsSales information systemsSales information systemsSales information systems,… …provide current sales data. Marketers need tools to keep up with the increased pace of company operations. And a number of companies have responded to this need, offering products that provide up-to-the-minute information about customers and sales.
  26. 26. Marketing Decision Support System…Marketing Decision Support System…Marketing Decision Support System…Marketing Decision Support System…Marketing Decision Support System…Marketing Decision Support System…Marketing Decision Support System…Marketing Decision Support System… …a coordinated collection of data, systems, tools, and techniques with supporting hardware and software by which an organization gathers and interprets relevant information from business and environment and turns it into a basis for marketing action.
  27. 27. “… the systematic and objective identification, collection, analysis, dissemination, and use of information for the purpose of improving decisionfor the purpose of improving decision making related to the identification and solution of problems and opportunities in marketing.”
  28. 28. Problem definitionProblem definitionProblem definitionProblem definition Development of an approach to theDevelopment of an approach to theDevelopment of an approach to theDevelopment of an approach to the problemproblemproblemproblem Research design formulationResearch design formulationResearch design formulationResearch design formulationResearch design formulationResearch design formulationResearch design formulationResearch design formulation Fieldwork or data collectionFieldwork or data collectionFieldwork or data collectionFieldwork or data collection Data preparation and analysisData preparation and analysisData preparation and analysisData preparation and analysis Report preparation and analysisReport preparation and analysisReport preparation and analysisReport preparation and analysis
  29. 29. Market demand…Market demand…Market demand…Market demand… …the total volume that would be bought by a…the total volume that would be bought by a…the total volume that would be bought by a…the total volume that would be bought by a defined customerdefined customerdefined customerdefined customer group in agroup in agroup in agroup in a defined geographical areadefined geographical areadefined geographical areadefined geographical area in ain ain ain a defined time perioddefined time perioddefined time perioddefined time period in ain ain ain a defined marketingdefined marketingdefined marketingdefined marketing environmentenvironmentenvironmentenvironment under aunder aunder aunder a defined marketing programdefined marketing programdefined marketing programdefined marketing program.... Market forecast..Market forecast..Market forecast..Market forecast.. …The level of demand that actually occurs under a given level of industry…The level of demand that actually occurs under a given level of industry…The level of demand that actually occurs under a given level of industry…The level of demand that actually occurs under a given level of industry marketing expenditure is the market forecast.marketing expenditure is the market forecast.marketing expenditure is the market forecast.marketing expenditure is the market forecast.marketing expenditure is the market forecast.marketing expenditure is the market forecast.marketing expenditure is the market forecast.marketing expenditure is the market forecast. Market potential…Market potential…Market potential…Market potential… …the limit approached by market demand as industry marketing expenditure…the limit approached by market demand as industry marketing expenditure…the limit approached by market demand as industry marketing expenditure…the limit approached by market demand as industry marketing expenditure approaches infinity.approaches infinity.approaches infinity.approaches infinity. Company demand…Company demand…Company demand…Company demand… …the company’s estimated share of market demand at alternative levels of…the company’s estimated share of market demand at alternative levels of…the company’s estimated share of market demand at alternative levels of…the company’s estimated share of market demand at alternative levels of company marketing effort in a given time.company marketing effort in a given time.company marketing effort in a given time.company marketing effort in a given time.
  30. 30. Company sales potentialCompany sales potentialCompany sales potentialCompany sales potential Company sales potential is the sales limit approached by company demand as company marketing efforts increase relative to competitors. Total market potential =Total market potential =Total market potential =Total market potential = number of buyersnumber of buyersnumber of buyersnumber of buyers xxxx items purchased per buyeritems purchased per buyeritems purchased per buyeritems purchased per buyer xxxx cost percost percost percost per itemitemitemitem
  31. 31. Business missionBusiness missionBusiness missionBusiness mission …a clearly stated statement that will ultimately focus on the activities that the company wants to achieve in future. SWOT analysis…SWOT analysis…SWOT analysis…SWOT analysis…strengths, weaknesses, opportunities and threats MacroMacroMacroMacro----environment…environment…environment…environment… the larger world in which the company operates.operates. MicroMicroMicroMicro----environment…environment…environment…environment… immediate environment of your business: customers, competitors, distributors, and suppliers. Goal formulation…Goal formulation…Goal formulation…Goal formulation… SMART Strategy formulation…Strategy formulation…Strategy formulation…Strategy formulation… strategy is a game plan for getting there. Program formulationProgram formulationProgram formulationProgram formulation ImplementationImplementationImplementationImplementation Feedback and controlFeedback and controlFeedback and controlFeedback and control
  32. 32. …analyzing market opportunities …developing marketing strategies … planning marketing programs… planning marketing programs … managing the marketing efforts & …ensuring proper feedback.
  33. 33. Executive SummaryExecutive SummaryExecutive SummaryExecutive Summary Table of ContentsTable of ContentsTable of ContentsTable of Contents Current Marketing SituationsCurrent Marketing SituationsCurrent Marketing SituationsCurrent Marketing Situations Opportunity and Issue AnalysisOpportunity and Issue AnalysisOpportunity and Issue AnalysisOpportunity and Issue AnalysisOpportunity and Issue AnalysisOpportunity and Issue AnalysisOpportunity and Issue AnalysisOpportunity and Issue Analysis ObjectivesObjectivesObjectivesObjectives Marketing StrategyMarketing StrategyMarketing StrategyMarketing Strategy Action ProgramsAction ProgramsAction ProgramsAction Programs Projected Profit and Loss Statement.Projected Profit and Loss Statement.Projected Profit and Loss Statement.Projected Profit and Loss Statement.
  34. 34. Arranged hierarchically from most important to leastArranged hierarchically from most important to leastArranged hierarchically from most important to leastArranged hierarchically from most important to least importantimportantimportantimportant. You need to know what matter most to your company and assign your resources accordingly. Stated quantitatively whenever possibleStated quantitatively whenever possibleStated quantitatively whenever possibleStated quantitatively whenever possible. You want to be able to measure your progress. It’s a lot easier to do this if your goal is to increase sales by a specific amount, than it is if your goal is simply to increase sales. amount, than it is if your goal is simply to increase sales. RealisticRealisticRealisticRealistic. Why set a goal you can’t achieve? Goal formulation is the basis of the concrete actions your company will take in the future. Unrealistic goals lead to irrational plans. ConsistentConsistentConsistentConsistent. Your company will have a number of goals, but they must be compatible. You can’t run in opposite directions at the same time.
  35. 35. Cultural factors: Culture, Sub-culture, Social class
  36. 36. Reference groups Family
  37. 37. Role & Status& Status
  38. 38. Age…stage in the life cycle Occupation…economic circumstances Personality and selfPersonality and self concept Lifestyle and values
  39. 39. MotivationMotivationMotivationMotivation………… Freud’s Theory people’s behavior are largely unconscious Maslow’s Theory human needs are arrangedMaslow’s Theory human needs are arranged in a hierarchy, from the most urgent to the least urgent Herzberg’s Theory people are motivated to act when there are no dissatisfiers associated with an action while at the same time there are sufficient satisfiers present
  40. 40. PerceptionPerceptionPerceptionPerception… converting any stimulus in your own psychology LearningLearningLearningLearning… experience, ideas, guidance Beliefs and attitudesBeliefs and attitudesBeliefs and attitudesBeliefs and attitudes…person'sBeliefs and attitudesBeliefs and attitudesBeliefs and attitudesBeliefs and attitudes…person's enduring favorable or unfavorable evaluations, emotional feelings, and action tendencies toward some object or idea
  41. 41. Your mother (the initiator) suggests that you might think about buying your father a new dress for his birthday. You ask your sister (the influencer) what she thinks. She thinks it's a good idea. You (the decider) agree and decide to buy an expensive dress from a renowned store. However, you don't have time to go to the store, so you send your brother (the buyer) to make the actual purchase. Your father (the user) loves the new dress and use it regularly.
  42. 42. Nature of Business buying decisionsNature of Business buying decisionsNature of Business buying decisionsNature of Business buying decisions…
  43. 43. Business Buying Process…
  44. 44. New task… buying for the first time Straight rebuy… reorder or rescheduling without modification Modified rebuy… reorder with modifications like price, volume, supply routine etc.
  45. 45. Influencing factors on Business Buying Decisions
  46. 46. InitiatorsInitiatorsInitiatorsInitiators. Those who request that something be purchased. They may be users or other people in the organization. UsersUsersUsersUsers. Those who will use the product or service. In many cases, the users initiate the buying proposal and help define the product requirements. InfluencersInfluencersInfluencersInfluencers. People who influence the buying decision. They often help define specifications and also provide information for evaluating alternatives. Technical personnel are particularly important influencers. DecidersDecidersDecidersDeciders. People who decide on product requirements and/orDecidersDecidersDecidersDeciders. People who decide on product requirements and/or on suppliers. ApproversApproversApproversApprovers. People who have formal authority to select the supplier and arrange the purchase terms. BuyersBuyersBuyersBuyers. People who have formal authority to select the supplier and arrange the purchase terms. GatekeepersGatekeepersGatekeepersGatekeepers. People who have the power to prevent sellers or information from reaching members of the buying center. For example, purchasing agents, receptionists, and telephone operators may prevent salespersons from contacting users or deciders.

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