marketing management

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marketing management presentation includes
marketing mix product decision consumer buying behavior market segmentation etc

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  • The five distinct marketing concepts are: Production, Product, Selling, Marketing, and Holistic. These philosophies have evolved over time and began with the production concept. The evolution of a new marketing concept does not mean that all companies are changing. Many companies continue to operate under the production concept.Under a production philosophy the company will seek to mass produce products and to distribute them on a wide scale. The belief is that consumers prefer products that are widely available and inexpensive.The product concept proposes that consumers prefer products that have higher quality, performance, or are more innovative. Often, managers focus too much on the product (a better mousetrap) but this does not always equal success.The selling concept argues that members of a market will not purchase enough product on their own so companies use the “hard-sell” to increase demand. Typically used with unsought goods such as insurance or cemetery plots, or when companies face overcapacity.The marketing concept first emerged in the 1950’s and focuses more on the customer with a “sense-and-respond” attitude. Companies that have embraced the marketing concept have been shown to achieve superior performance than competitors.The holistic concept takes a philosophy that everything matters in marketing. Figure 1.3 (next slide) outlines the Holistic Marketing Concept.
  • marketing management

    1. 1.  According to William Stanton, “Marketing is a total system of business activities designed to plan, price, promote & distribute want satisfying products to target markets in order to achieve organisational objectives.”  According to Philip Kotler, “marketing is a human activity directed at satisfying needs and wants through exchange process.” 1
    2. 2.  The aim of Marketing is to have:  the right product or service  at the right price  at the right place  at the right time
    3. 3.  Production Approach- produce as much as possible at lowest possible cost  Product Approach- produce high quality product and the world will beat a path to your door.  marketing Approach- produce a product that fills a consumer need, price it correctly, make readily available and promote it properly and the marketing success will follow  Societal Marketing Approach- extend the marketing approach to consumer's and society’s well-being
    4. 4.          Marketing Research Product Planning & Development Pricing Advertising & Publicity Sales Promotion Packaging Branding & Labeling After Sales Service Test Marketing 4
    5. 5.  Regular & Continuous Activity  Satisfaction of Human Wants  Relates to Goods and Services  Transfer of Ownership  Creates Different Utilities  Evolutionary Concept  Wide in Scope 5
    6. 6. Marketing Concepts Quality Innovation Production Product Mass production Mass distribution Create, deliver, and communicate value Selling Unsought goods Overcapacity Marketing Holistic
    7. 7.  PRODUCT - what is it that you are going to sell.  Product Mix - range of PRODUCTS or SERVICES offered for sale  Product Features- color, packaging, quality, brand name  Product Support - maintenance, after-sales Service, pre-sale like advice and Quotations
    8. 8. Pricing - not just how much you charge for a product but how the price fits your target market and the image you wish to develop.  Pricing Methods you choose depends on:  competition in the market and your marketing strategies  demand for your product  controlled pricing  your costs  perceived value
    9. 9.  Distribution - how your products or services reach your customers  Distribution Methods  Customers come to you  You take the product/service direct to the customer  You use an agent merchant franchise etc. to reach your customer
    10. 10.  LOCATION - the place of the business "locate your business where the market is".  Factors in Selecting an area:  Customer accessibility  Adequacy of transport/communication facilities  Supply of skilled labor  Population Trends
    11. 11.  The first "P" of the marketing mix deals with the product.  The positioning, packaging, etc.  The second "P" of the marketing mix is price.  There are several options to consider regarding price:  1) price matching, 2) price making, 3) introductory penetration pricing, and 4) a competitive upgrade price strategy.
    12. 12.  The 3rd "P" of the marketing mix deals with product placement--the width of distribution  promotions are designed to create demand.
    13. 13. Definition: “The process of dividing a market into meaningful, similar and identifiable groups.” 3 Reasons That Segmentation Is Important: Enables marketers to identify customers with similar needs, buying behavior. Allows for the tailoring of the “Marketing mix” to specific segments (also cost effective). Consistent with marketing concept of satisfying customer wants and needs.
    14. 14. Segmentation for Business Markets: Company Characteristics—location, type of company, size of company, product use. Buying Processes—purchasing criteria such as price, quality, service. Customer Relationship—the type/significance of the relationship they have with their customer.
    15. 15. Geographic Segmentation Demographic Segmentation Psychographic Segmentation Behavioral Segmentation
    16. 16. Thank you

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