How has Marketing Management Changed In Recent Years?
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The document discusses how the marketplace has changed over the last 10 years due to factors like technology, globalization, and increased competition. It outlines new abilities for marketers like using social media and mobile marketing. It also discusses marketing concepts like the marketing concept, production concept, and relationship marketing. Finally, it explains the evolution of marketing management from the traditional 4 P's to a modern approach incorporating people, processes, programs, and performance.
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Chapter 1 Marketing Management
- Marketing is an organizational function and set of processes for creating, communicating, and delivering value to customers and managing customer relationships to benefit the organization and stakeholders. Marketing management is choosing target markets and gaining, keeping, and growing customers through superior customer value.
- Marketers manage demand and operate in consumer, business, global, and nonprofit markets. Marketing affects the entire customer experience.
- Today's marketplace has fundamentally changed due to societal forces like technology, globalization, and social responsibility, creating new opportunities and challenges and changing marketing management. Companies seek the right balance of proven and innovative approaches.
How does marketing affects customer value ?
"How does marketing affects customer value ?" Helps to capture Value creation, value chain, core business process etc.
MARKETING MANAGEMENT: A SOUTH ASIAN PERSPECTIVE BY-PHILIP KOTLER
(14 EDITION)__ CHAPTER 2[DEVELOPING MARKETING STRATEGIES AND PLANS]
DISCLAIMER
These slides were created by AJEET KUMAR, as part of an internship done under the guidance of Prof. Sameer Mathur (www.IIMInternship.com)
Presentation By: AJEET KUMAR
How do consumer characteristics influence buying behavior?
Consumer characteristics and buying behavior are influenced by four factors: cultural, social, personal, and psychological. Cultural factors include things like religion, gender, and geography. Social factors refer to reference groups and primary/secondary groups that impact decisions. Personal factors relate to one's economic situation, occupation, personality, and lifestyle. Psychological factors involve perceptions, emotions, learning, memory, beliefs, and motivations. Understanding how these factors interrelate can provide insights into consumer behavior and targeting.
Analyzing Business Markets
This document discusses business markets and organizational buying. It covers key differences between business and consumer markets. The business buying process involves multiple roles and stages. Buyers consider various factors like price, quality, and relationships. Suppliers build trust and collaborate with buyers to establish long-term relationships. Various research methods and tools help understand customer needs better to improve the buying and decision process.
Chapter 2 Developing Marketing Strategies and Plans
This document discusses key concepts in developing marketing strategies and plans. It covers value delivery processes, the value chain, core business processes, core competencies, holistic marketing, marketing plans, levels of marketing plans, corporate headquarters planning activities including defining mission and assessing growth opportunities, strategic business units, Porter's generic strategies, and categories of marketing alliances. The document provides definitions and explanations of these marketing concepts.
Marketing management-by-philip-kotler-1
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Principles Of Marketing 1
The document discusses key concepts in marketing including:
1. Marketing is managing profitable customer relationships by attracting new customers, retaining current customers, and growing current customers. It is not the same as sales or advertising.
2. The marketing process involves understanding customer needs, designing a customer-driven strategy, capturing value from customers to create profits, and constructing a marketing program to deliver superior value.
3. Key concepts in understanding customers include needs, wants, demands, marketing offers, customer value, satisfaction, and markets. Marketing aims to satisfy customer needs through value and exchange.
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Recommended
Chapter 1 Marketing Management
- Marketing is an organizational function and set of processes for creating, communicating, and delivering value to customers and managing customer relationships to benefit the organization and stakeholders. Marketing management is choosing target markets and gaining, keeping, and growing customers through superior customer value.
- Marketers manage demand and operate in consumer, business, global, and nonprofit markets. Marketing affects the entire customer experience.
- Today's marketplace has fundamentally changed due to societal forces like technology, globalization, and social responsibility, creating new opportunities and challenges and changing marketing management. Companies seek the right balance of proven and innovative approaches.
How does marketing affects customer value ?
"How does marketing affects customer value ?" Helps to capture Value creation, value chain, core business process etc.
MARKETING MANAGEMENT: A SOUTH ASIAN PERSPECTIVE BY-PHILIP KOTLER
(14 EDITION)__ CHAPTER 2[DEVELOPING MARKETING STRATEGIES AND PLANS]
DISCLAIMER
These slides were created by AJEET KUMAR, as part of an internship done under the guidance of Prof. Sameer Mathur (www.IIMInternship.com)
Presentation By: AJEET KUMAR
How do consumer characteristics influence buying behavior?
Consumer characteristics and buying behavior are influenced by four factors: cultural, social, personal, and psychological. Cultural factors include things like religion, gender, and geography. Social factors refer to reference groups and primary/secondary groups that impact decisions. Personal factors relate to one's economic situation, occupation, personality, and lifestyle. Psychological factors involve perceptions, emotions, learning, memory, beliefs, and motivations. Understanding how these factors interrelate can provide insights into consumer behavior and targeting.
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This document discusses business markets and organizational buying. It covers key differences between business and consumer markets. The business buying process involves multiple roles and stages. Buyers consider various factors like price, quality, and relationships. Suppliers build trust and collaborate with buyers to establish long-term relationships. Various research methods and tools help understand customer needs better to improve the buying and decision process.
Chapter 2 Developing Marketing Strategies and Plans
This document discusses key concepts in developing marketing strategies and plans. It covers value delivery processes, the value chain, core business processes, core competencies, holistic marketing, marketing plans, levels of marketing plans, corporate headquarters planning activities including defining mission and assessing growth opportunities, strategic business units, Porter's generic strategies, and categories of marketing alliances. The document provides definitions and explanations of these marketing concepts.
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This document discusses key concepts in marketing for the 21st century. It covers the challenges businesses face in a new economy with increased information and connectivity. Major topics addressed include the tasks of marketing, core marketing concepts and tools, different company orientations toward customers and markets, and how businesses and marketers are responding to changes through strategies like e-commerce, globalization, and relationship marketing.
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The document discusses key concepts in marketing including:
1. Marketing is managing profitable customer relationships by attracting new customers, retaining current customers, and growing current customers. It is not the same as sales or advertising.
2. The marketing process involves understanding customer needs, designing a customer-driven strategy, capturing value from customers to create profits, and constructing a marketing program to deliver superior value.
3. Key concepts in understanding customers include needs, wants, demands, marketing offers, customer value, satisfaction, and markets. Marketing aims to satisfy customer needs through value and exchange.
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3) Financial plans with projected income statements, cash flows, and balance sheets to show how the marketing strategies will be funded and be profitable.
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- Corporate strategic planning establishes the mission, identifies strategic business units, allocates resources, and assesses growth opportunities through new businesses, downsizing, or terminating older businesses.
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1. The Stimulus-Response Model of Buyer Behavior focuses on motivators, determinants, and the effects of communication channels on consumer buying processes.
2. The Sheth-Newman Gross Model of Consumption Values proposes that functional, social, conditional, emotional, and epistemic values influence consumer choices.
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Discover the secrets to conquering the digital landscape with our comprehensive guide to effective digital marketing strategies. From SEO mastery and social media tactics to the art of compelling content creation, embark on a journey to elevate your brand's online presence. Learn how to navigate the ever-evolving world of digital marketing, connect with your target audience, and drive tangible results for your business. Unleash the full potential of your online endeavors and stay ahead in the competitive digital arena. Are you ready to transform your marketing game? Dive into "Digital Domination" now!
Marketing Management
This document summarizes the key aspects of marketing management presented in an internship lecture. It discusses the following main points in 3 sentences or less:
The document defines marketing management as choosing target markets and attracting/retaining customers through superior value. It outlines 7 stages of marketing management: developing strategies and plans, assessing opportunities, choosing and designing value, delivering value, communicating value, sustaining growth, and building an effective marketing organization. Examples are provided of how companies like Samsung innovate to build strong brands through clear promises and continuous improvements.
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The document discusses how marketers need to focus less on the messaging of advertising and more on the experiences it provides to targets. It identifies four domains - the public sphere, social sphere, tribal sphere, and psychological sphere - that advertising needs to focus on. The principles of effective advertising experiences are that they are relevant, help people achieve objectives, are branded interventions, and provide engaging or compelling experiences. The goals of advertising experiences are to create habits, guide cognition, and connect brands with moods or emotions. The document was created by an intern under the guidance of an Indian professor of marketing.
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Love me or hate me you can't ignore me
While market segmentation and targeting can result in both loyal fans and haters of a brand, capitalizing on brand polarization by amplifying differences can bolster loyalty, create buzz, and increase sales. Some companies that provoked strong negative reactions through provocative ads, like Progressive Insurance's Flo and Miracle Whip, saw increases in brand awareness, social media mentions, and sales. Similarly, controversial books and films that received both strong praise and criticism, like Chetan Bhagat's Half Girlfriend and Salman Khan's Kick, ended up being commercial successes based on sales data. The document argues that having vocal critics and "haters" of a brand can be a good thing if it helps create buzz and strengthens loyalty
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The document discusses Château deVallois, a famous wine estate in Bordeaux, France owned by 75-year-old Gaspard de Sauveterre. It sells 150,000 bottles annually of its Grand vin du for $999 per bottle, earning £100-£450 per bottle. The remaining grapes are used to make 200,000 bottles of less expensive Puine wine. The CEO's daughter observes young customers cannot afford the expensive wines and wants to create a new, more affordable £20-£25 range. Gaspard must decide whether to preserve the brand or extend it to new customers.
Goodyear Case Study
This document summarizes information about Gorilla Tire Company. Gorilla operates 84 plants worldwide and has $10.91 billion in annual revenues. It has 105,000 employees and is a leader in the US tire market. Private label tires make up 80% of sales for its Kelly-Springfield subsidiary. Gorilla sells tires through independent dealers (50%), company-owned outlets (27%), and government agencies (23%). It sells 3/4 of tires through promotions, with an average 25% discount. The document discusses Gorilla's Aquatred tire product and tests of expanding its distribution networks. It provides details on consumer segments and strategies for marketing Aquatred, including taking advantage of the 1992 Winter Olympics.
Gino sa distribution channel management
Gino SA is a large burner manufacturer that is considering an offer from Feima to take over distribution in the industrial segment. David Zhou, the leader of Gino SA, must decide whether to fully decline Feima's offer, accept the offer but keep other segments with existing distributor Jinghua, or accept Feima as a customer of Jinghua. After analyzing the advantages and disadvantages of each option, Zhou decides to accept Feima's offer for the industrial segment but keep other segments with Jinghua.
Goodyear the aquatred launch
Goodyear is launching a new tire called Aquatred designed to provide improved traction in wet conditions. The vice president of marketing is analyzing key issues for the launch, including whether Aquatred meets consumer needs, the appropriate timing for launch, whether to expand distribution channels, and pricing and promotion strategies. Consumer surveys found wet traction is important to buyers and they may accept a higher price for Aquatred. However, competitors plan lower-priced, longer-warranty tires. A full-scale launch is estimated to cost $21 million and targeting the quality buyer segment through existing channels could attract nearly 3 million tire sales.
Gino sa case study analysis
Gino SA faces a decision about whether to grant direct purchasing status to Feima, bypassing its distributor Jinghua. There are 3 options:
1) Deny Feima's request to preserve distributor relationships but risk losing Feima as a customer.
2) Approve Feima's request for its industrial segment only, maintaining relationships while gaining industrial sales.
3) Grant Feima full OEM status, achieving goals but destroying the relationship with major distributor Jinghua.
Case study Aquatred
This document discusses the tire industry and Goodyear's strategies. It covers:
1) Customer purchasing trends in the tire industry, with most customers historically purchasing tires in pairs out of necessity rather than preference.
2) Key attributes customers consider like tread life, traction, and price.
3) Goodyear's sales distribution changing over time, with more sales going to large retailers and independent dealers rather than oil companies or manufacturer-owned outlets.
4) Goodyear's strategies to support independent dealers through training, advertising support, and incentives to maintain consistent sales levels.
Branding
This document contains a list of various website URLs but no other text. It does not provide any actual content that can be summarized.
GINO SA: Distribution Channel Management
Gino faces challenges managing its distribution channels in China. It must decide whether to open a warehouse in Shanghai, accept a direct sales offer from an OEM customer, and resolve issues with distributors. A warehouse could boost sales and service customers directly but may damage relations with distributors. Accepting the OEM offer increases sales slightly but risks losing an important distributor. Gino should maintain goodwill with distributors while exploring ways to increase industrial burner sales and satisfy the OEM's pricing needs.
What are brands good for?
Brands traditionally aggregate large numbers of consumers by promising a clear benefit to set themselves apart from competitors. However, in today's information-rich environment, companies are able to "disaggregate" consumers into more specific segments and interact with them individually. This allows companies to perform strategic and tactical brand management tasks better, less expensively, and more profitably at the segment level rather than for the overall brand. Specifically, companies can build stronger consumer relationships, optimize their channel relationships with retailers, and restructure their brand management organizations around consumer segments rather than individual brands.
Integrated marketing communications program
The document defines integrated marketing communications (IMC) as a strategic planning process that coordinates various communication options to effectively reach target audiences. IMC aims to generate both short-term financial returns and long-term brand value. Key criteria for IMC include evaluating how well each communication option covers the audience, contributes to desired responses, reinforces common messages, complements other options, can be adapted for different groups, and weighs the costs of each option. The goal is an integrated communications program that is both effective and efficient.
Role of marketing communications
Marketing communications are how firms inform, persuade, and remind consumers about products and brands. They represent the company's voice and allow them to build relationships with customers to strengthen loyalty. When done properly, marketing communications also benefit customers by showing how and when products are used, who uses them, and what the company represents. They help link brands to other concepts and experiences to establish the brand in memory and drive sales and shareholder value.
Marketing communication mix
Companies must allocate their marketing communications budget across six major modes: advertising, sales promotion, public relations, events, sales force, and direct marketing. The allocation depends on factors like the product, buyer readiness stage, product life stage, and measuring communication results. Consumer markets tend to spend more on sales promotion and advertising, while business markets spend more on personal selling. Different communication tools are most effective at different stages of buyer readiness and the product life cycle. Senior managers want to know the outcomes and revenues from communication investments, so communication directors must measure the impact on audiences.
How do marketing communications work
The document discusses two models that are useful for marketers to understand effective communication: the macro model and the micro model. The macro model emphasizes the key factors in communication such as senders, receivers, messages, media, encoding, decoding, response, feedback, and noise. The micro model focuses on customer responses and follows one of three sequences: learn-feel-do, do-feel-learn, or learn-do-feel depending on a customer's involvement and perceptions of a product category. Understanding these models can help marketers better plan communication campaigns.
Effective communications
The document discusses developing effective customer communications. There are several major steps: identifying the target audience through profiling and image analysis; determining communication objectives according to models like hierarchy-of-effects; designing the message strategy considering appeals and positioning, the creative strategy whether informational or transformational, and the message source's credibility; selecting channels considering personal vs non-personal options; and establishing the budget through methods like percentage-of-sales or competitive parity analysis. Effective customer communication requires understanding the audience and setting clear objectives to design the right message through the proper channels with sufficient budget.
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How has Marketing Management Changed In Recent Years?
- 2. Marketplace isn’t same what it used to be 10years ago… Lets explore these …
- 3. 1. Network Information Technology Digital revolution has taken over the marketing era for a long time now making some damn major changes in ways of marketing
- 4. 2. Globalization Technological advances and as people work and travel to different places.. Globalization takes its place in trending the market conditions
- 6. 4. Heightened Competition Intense clash of competition among the local and foreign brands has brought major changes in profit margins.
- 8. 6.Industry Convergence New opportunities at intersection of two or more industries
- 10. 8. Deregulation 9.Consumer Info. 10.Consumer Participation
- 12. 1. Marketers can use the Internet as a powerful information and sales channel. 2. Marketers can collect fuller and richer information about markets, customers, prospects, and competitors. 3. Companies can facilitate and speed up internal communication among their employees by using the Internet as a private intranet.
- 13. 4. Marketers can tap into social media to amplify their brand message 5. Marketers can facilitate and speed external communication among customers. 6. Companies can improve purchasing, recruiting, training, and internal and external communications.
- 14. 7.Marketers can send ads, coupons, samples, and information to customers who have requested them or given the company permission to send them 8.Marketers can reach consumers on the move with mobile marketing 9.Companies can make and sell individually differentiated goods
- 16. Marketing Concept The marketing concept holds that the key to achieving organizational goals is being more effective than competitors in creating, delivering, and communicating superior customer value to your target markets
- 17. Production Concept The Production Concept holds that consumers prefer products that are widely available and inexpensive.
- 18. Product Concept The product concept proposes that consumers favor products offering the most quality, performance, or innovative features
- 19. Selling Concept The selling concept holds that consumers and businesses, if left alone, won’t buy enough of the organization’s products
- 21. Relation Marketing Relationship marketing aims to build mutually satisfying long-term relationships with key constituents in order to earn and retain their business.
- 22. Integrated Marketing Integrated marketing occurs when the marketer devises marketing activities and assembles marketing programs to create, communicate, and deliver value for consumers such that “the whole is greater than the sum of its parts.”
- 23. Internal Marketing Internal marketing, an element of holistic marketing, is the task of hiring, training, and motivating able employees who want to serve customers well. It ensures that everyone in the organization embraces appropriate marketing principles, especially senior management
- 24. Performance Marketing Performance marketing requires understanding the financial and nonfinancial returns to business and society from marketing activities and programs
- 26. Evolution of Marketing Management • Product • Place • Promotion • Price Marketing Mix four Ps Modern Marketing Management Four Ps • People • Process • Programs • Performance
- 27. People reflects, in part, internal marketing and the fact that employees are critical to marketing success Processes reflects all the creativity, discipline, and structure brought to marketing management Programs reflects all the firm’s consumer- directed activities Performance is about to capture the range of possible outcome measures that have financial and nonfinancial implications beyond the company itself.
- 29. References • Marketing Management , 14E Kotler & Keller • www.Slideshare.net • http://www.publisz.pl/wpcontent/uploads/2014/12/shutter stock_1296673.jpg • http://thumbs.dreamstime.com/t/colorful-arrows-pointing- to-center-point-white-background-29685612.jpg • www.istockphoto.com for ideas of photos and background • www.colourlovers.com for Color Scheming • http://www.mauricekerrigan.com/blog/wp- content/uploads/2013/07/Shaking-hands-MA.jpg
- 30. Disclaimer These slide were created by Himank Airon , IIT-BHU during an Marketing internship by Prof. Sameer Mathur, IIM Lucknow. (see www.IIMInternship.com)