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Marketing concepts1

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by DR. Saad Bsata

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Marketing concepts1

  1. 1. C o nc e pts in M a rk e t i ng Dr. Saad Bsata Feb- 2010 New Horizon
  2. 2. Henry Ford <ul><li>The story about car color ! </li></ul>
  3. 3. We do marketing for.. <ul><li>What’s available (surplus)?? </li></ul><ul><li>What the customer demand!!! </li></ul><ul><li>Examples: Olive oil , Pullover .. </li></ul>
  4. 4. NASCAR experience <ul><li>It is not car race -only- anymore ! </li></ul>
  5. 5. NOW… <ul><li>What is Marketing ?? </li></ul>
  6. 6. Marketing is: <ul><li>Primarily it deals: </li></ul><ul><li>- more than any other activity- with.. </li></ul><ul><li>C U ST O M E Rs </li></ul>
  7. 7. Old Marketing concept <ul><li>Telling & Selling ! </li></ul><ul><li>New Marketing </li></ul><ul><li>concept </li></ul><ul><li>Satisfying customers needs </li></ul><ul><li>The aim of marketing is making </li></ul><ul><li>Selling unnecessary . Peter Drucker </li></ul>
  8. 8. Marketing Process <ul><li>Simple five – step Model. </li></ul><ul><li>1 st 4 steps = understanding customer. </li></ul><ul><li>Last (5 th ) step= companies reap rewards. </li></ul>understand Strategy Program Relation Capture Value 1 2 3 4 5
  9. 9. Customer Needs, wants, demands <ul><li>Food= Need </li></ul><ul><li>Burger+ Fries+ Coke = Want </li></ul><ul><li>Wants (backed by buying power)= Demand </li></ul>
  10. 10. Market offerings <ul><li>Products </li></ul><ul><li>Services </li></ul><ul><li>Experiences </li></ul>
  11. 11. Marketing Myopia <ul><li>By definition: </li></ul><ul><li>Paying more attention to </li></ul><ul><li>products than benefits ! </li></ul>
  12. 12. Customer Satisfaction & Expectations <ul><li>Customer form E, and buys accordingly. </li></ul><ul><li>If satisfied will buy again, and tell others . </li></ul><ul><li>Marketers should be careful about E. </li></ul><ul><li>Over E vs . Under E !! </li></ul>
  13. 13. Exchange relationship <ul><li>It takes place when: obtain desired object by offering something else in return. </li></ul><ul><li>or BARTER !!! </li></ul>
  14. 14. Concept of Market <ul><li>A market: </li></ul><ul><li>Is a set of actual & Potential buyers of a product. </li></ul><ul><li>Buyers share a </li></ul><ul><li>particular need or </li></ul><ul><li>want could be </li></ul><ul><li>satisfied through </li></ul><ul><li>exchange relationships . </li></ul>
  15. 15. Elements of Modern Marketing system <ul><li>. </li></ul>Suppliers Marketing intermediaries Competitor Final Users Company Marketer Major environmental forces
  16. 16. Design of Customer driven Marketing strategy <ul><li>After it understands: </li></ul><ul><li>Consumer + Marketplace </li></ul><ul><li>Then strategy prepared. </li></ul><ul><li>Marketing management= Art + Science </li></ul><ul><li>Of selecting target market & Build profitable relationships. </li></ul>
  17. 17. To design marketing strategy <ul><li>What customers will we serve ! </li></ul><ul><li>(target market). </li></ul><ul><li>Note (Av. & St.)! </li></ul><ul><li>How can we serve these customers? </li></ul><ul><li>(our value preposition). </li></ul>
  18. 18. Customer Selection <ul><li>Market segmentation. </li></ul><ul><li>Target marketing </li></ul><ul><li>Marketing= serve as much customers (!!!) </li></ul><ul><li>We can not serve all customers.. </li></ul><ul><li>Select customer to serve well & profit . </li></ul><ul><li>@ cases of excess demand De marketing . </li></ul>
  19. 19. Company Value proposition <ul><li>Co- decide how to differentiate & position @ marketplace. </li></ul><ul><li>Co- value proposition = </li></ul><ul><li>benefits + values it promises customer. </li></ul>
  20. 20. Company Value proposition <ul><li>SAAB : “fly without leaving ground”. </li></ul><ul><li>Subaru : “Airbags saves lives”. </li></ul><ul><li>Red Bull : “Gives u w iii ngs”. </li></ul>
  21. 21. Marketing Management Orientation <ul><li>Philosophy to guide: </li></ul><ul><li>What weight is given to Interests of ? </li></ul><ul><li>Customers. </li></ul><ul><li>Org-. </li></ul><ul><li>Society. </li></ul>
  22. 22. Production Concept <ul><li>Oldest orientations. </li></ul><ul><li>Still useful philosophy. </li></ul><ul><li>Can lead to M myopia. </li></ul><ul><li>Customers: </li></ul><ul><li>Favor products available & affordable. </li></ul><ul><li>Management focus on: </li></ul><ul><li>Production + distribution ! </li></ul>
  23. 23. Product Concept <ul><li>It holds that consumer will favor product: </li></ul><ul><li>Quality </li></ul><ul><li>Performance </li></ul><ul><li>Innovation </li></ul><ul><li>Can lead to Myopia! </li></ul><ul><li>“ Mousetrap” example … </li></ul>
  24. 24. Selling Concept <ul><li>Poor assumptions (customer will like what he bought or else..). </li></ul><ul><li>Aggressive </li></ul><ul><li>Creates sales transaction </li></ul><ul><li>rather than build long term relation. </li></ul><ul><li>Focus on products that buyers </li></ul><ul><li>don’t think of </li></ul>
  25. 25. Marketing Concept <ul><li>Not find right consumers for your product </li></ul><ul><li>Find the right product for your consumer </li></ul><ul><li>Sense & Respond rather than make & Sell </li></ul><ul><li>By: </li></ul><ul><li>Know customer needs & wants </li></ul><ul><li>Deliver that better than competitors </li></ul>
  26. 26. Selling Concept <ul><li>. </li></ul>. Factory Existing products Selling & Promoting Profits thru sales . Promoting volume
  27. 27. Marketing Concept <ul><li>. </li></ul>Marketing Concept . Market Customer needs Integrated Profits thru Customer . Marketing Satisfaction
  28. 28. <ul><li>. </li></ul>

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