This document provides an overview of key marketing concepts including definitions of marketing, market, marketing management, needs, wants, demand, target market, marketing vs selling, value proposition, value delivery, potential market vs penetrated market, market demand and market share, micro and macro environment, marketing intelligence systems, marketing information systems, demographic, technical, political, legal, and economic environmental factors, marketing research, focus groups, experimental research, marketing metrics, and sales forecast. Key terms are defined and examples are provided for many concepts.
1. The document discusses modern marketing information systems and their components which include internal records, marketing intelligence systems, marketing decision support systems, and marketing research.
2. It also discusses methods for collecting marketing intelligence including training sales forces, motivating distributors, networking externally, setting up customer advisory panels, and collecting online customer feedback.
3. Marketing research is defined as the systematic and objective process of generating information to aid in making marketing decisions, and the types of marketing research are described as basic and applied research.
This document discusses marketing management and market research. It provides details on:
- Analyzing competitors using tools like Porter's Five Forces and SWOT analysis
- Conducting qualitative and quantitative market research using methods like surveys, focus groups, and observational studies
- Examining the micro and macro environment that influence supply and demand, including factors like demographics, economy, competitors, and regulations
- Defining characteristics of consumer markets based on demographic, behavioral, geographic factors
This document provides an overview of key components of a modern marketing information system and methods for analyzing the macroenvironment. It discusses the importance of internal records, marketing intelligence systems, and procedures for gathering, sorting, analyzing and distributing market data. It also outlines various macroenvironmental factors that marketers monitor, including demographic trends like population growth, age distribution, ethnicity, education levels and household patterns on a global, national and regional scale. Specific examples are given of companies adapting their marketing approaches to better target demographic groups.
This document provides an introduction, objectives, and methodology for a study on customer buying behavior and satisfaction levels at Big Bazaar hypermarkets in Vishakhapatnam, India. The study aims to understand customer preferences as they have changed over time, determine Big Bazaar's current market status, identify competitors, and gauge customer satisfaction levels. The research methodology involves a survey of 100 customers using a questionnaire to collect primary data, as well as secondary data. The limitations include a short time frame, limited geographic scope to Vishakhapatnam, and potential response bias.
This document provides an overview of key marketing concepts including definitions of marketing, the exchange process, marketing orientations (such as production, sales, and marketing), the marketing environment, and marketing functions. It discusses frameworks like the 4Ps and different types of marketing concepts including the selling concept, marketing concept, and societal marketing concept. It also defines important terms like market segmentation, targeting, positioning, the external macro and micro environment, and different types of customer and market demands.
Market segmentation involves dividing a market into subgroups of customers with distinct needs, characteristics, or behaviors that respond differently to marketing strategies. Companies segment markets by identifying common attributes among certain groups of customers, such as geographic location, demographics, psychographics, or behaviors. There is no single way to segment a market, and marketers must try different segmentation variables alone and in combination to find the optimal way to view market structure and target customer subgroups. Common variables used for segmentation include geographic, demographic, psychographic, and behavioral factors.
The process of gathering information regarding the company’s external environment, analyzing it, and forecasting the impact of whatever trends the analysis suggests.
This is part two of the discourse on the marketing environment.
To better understand this, take a backward look at part one of the slides. The marketing environment is an attempt to structure firms in such a way that they can interact with the surrounding even in the illumination of making profits daily!
1. The document discusses modern marketing information systems and their components which include internal records, marketing intelligence systems, marketing decision support systems, and marketing research.
2. It also discusses methods for collecting marketing intelligence including training sales forces, motivating distributors, networking externally, setting up customer advisory panels, and collecting online customer feedback.
3. Marketing research is defined as the systematic and objective process of generating information to aid in making marketing decisions, and the types of marketing research are described as basic and applied research.
This document discusses marketing management and market research. It provides details on:
- Analyzing competitors using tools like Porter's Five Forces and SWOT analysis
- Conducting qualitative and quantitative market research using methods like surveys, focus groups, and observational studies
- Examining the micro and macro environment that influence supply and demand, including factors like demographics, economy, competitors, and regulations
- Defining characteristics of consumer markets based on demographic, behavioral, geographic factors
This document provides an overview of key components of a modern marketing information system and methods for analyzing the macroenvironment. It discusses the importance of internal records, marketing intelligence systems, and procedures for gathering, sorting, analyzing and distributing market data. It also outlines various macroenvironmental factors that marketers monitor, including demographic trends like population growth, age distribution, ethnicity, education levels and household patterns on a global, national and regional scale. Specific examples are given of companies adapting their marketing approaches to better target demographic groups.
This document provides an introduction, objectives, and methodology for a study on customer buying behavior and satisfaction levels at Big Bazaar hypermarkets in Vishakhapatnam, India. The study aims to understand customer preferences as they have changed over time, determine Big Bazaar's current market status, identify competitors, and gauge customer satisfaction levels. The research methodology involves a survey of 100 customers using a questionnaire to collect primary data, as well as secondary data. The limitations include a short time frame, limited geographic scope to Vishakhapatnam, and potential response bias.
This document provides an overview of key marketing concepts including definitions of marketing, the exchange process, marketing orientations (such as production, sales, and marketing), the marketing environment, and marketing functions. It discusses frameworks like the 4Ps and different types of marketing concepts including the selling concept, marketing concept, and societal marketing concept. It also defines important terms like market segmentation, targeting, positioning, the external macro and micro environment, and different types of customer and market demands.
Market segmentation involves dividing a market into subgroups of customers with distinct needs, characteristics, or behaviors that respond differently to marketing strategies. Companies segment markets by identifying common attributes among certain groups of customers, such as geographic location, demographics, psychographics, or behaviors. There is no single way to segment a market, and marketers must try different segmentation variables alone and in combination to find the optimal way to view market structure and target customer subgroups. Common variables used for segmentation include geographic, demographic, psychographic, and behavioral factors.
The process of gathering information regarding the company’s external environment, analyzing it, and forecasting the impact of whatever trends the analysis suggests.
This is part two of the discourse on the marketing environment.
To better understand this, take a backward look at part one of the slides. The marketing environment is an attempt to structure firms in such a way that they can interact with the surrounding even in the illumination of making profits daily!
International marketing involves identifying goods and services customers abroad want and providing them at the right price and place, with some modifications to marketing efforts to suit each country or locale. While multinational enterprises can use universal promotion themes, strategies must be tailored to appeal directly to local customers. International market assessment, the first of five major areas of international marketing strategy, involves evaluating what a multinational can sell globally through a screening process analyzing basic needs, financial/economic conditions, political/legal forces, social/cultural forces, and competitive environments in potential markets to select final locations.
This document provides an overview of tools and processes for conducting global marketing research and analysis. It discusses PESTEL analysis for examining political, economic, social, technological, legal and environmental factors. It also explains SWOT analysis for identifying internal strengths and weaknesses as well as external opportunities and threats. The document then outlines the global marketing research process and types of research conducted, including on industries, buyers, products, distribution and promotion. It introduces decision support systems and sales forecasting techniques used in international marketing.
Global marketing Plan External & Internal Analysis pptMoriba Touray
It should be apparent by now that companies and organizations planning to compete effectively in world markets need a clear and well-focused international marketing plan that is based on a thorough understanding of the markets in which the company is introducing its products. The challenge, then, of international marketing is to ensure that any international strategy has the discipline of thorough research, and an understanding and accurate evaluation of what is required to achieve a competitive advantage.
To develop a global strategy, a firm must understand the types of markets it competes in, which can include consumer, business, or government markets. Consumer markets depend on consumers' ability to buy, their needs, and their behavior, which can vary greatly between countries due to factors like income levels, cultural attitudes, and preferences. Segmenting consumer markets allows firms to target specific groups within a country. Business buyers are more predictable globally as they are influenced more by economic factors than social or cultural ones. Government markets involve highly administrative buying processes and negotiating contracts, which sometimes go to the lowest bidder, requiring global marketers to navigate complex bidding. Bribery of government officials can be more common in emerging markets.
This document discusses market segmentation and targeting attractive market segments. It begins by defining a market as a group of potential customers and a market segment as a subgroup within the market that shares similar characteristics. The document notes that market segmentation is important because not all customers have the same needs. It lists benefits of segmentation such as identifying new product opportunities and improving marketing efficiency. Drawbacks include missing customers that don't fit segments. Common ways to define segments include demographics, geography, and customer behaviors. The document provides several examples of segmenting consumer and business markets. It concludes with discussing tools like a segment rating chart and market attractiveness/competitive position matrix to evaluate segments and determine which to target.
The document discusses the key concepts of marketing including definitions of marketing, the marketing concept, and the evolution of marketing philosophies over time. It provides definitions of marketing from various organizations and experts. It describes the progression from a production concept focused on mass production to a selling concept focused on persuading customers, to today's customer-centric marketing concept focused on satisfying customer needs. The functions, scope, and importance of marketing are also summarized.
The document discusses various topics related to international marketing including:
1. Definitions of international marketing as marketing activities carried out across national boundaries and as a multinational process of planning various marketing activities.
2. The main differences between international and domestic marketing are that international marketing involves activities across more than one country and is more complicated due to legal, cultural and other restrictions in foreign countries.
3. International marketing involves identifying customer needs and wants in international markets and adapting the marketing mix to diverse international customers and markets.
Marketing research involves defining problems, gathering information through primary and secondary data collection, and proposing solutions. It is important for understanding customers, competitors, and the business environment. Common marketing research methods include surveys, focus groups, observations, experiments, and analysis of consumer data. The goal is to inform business decisions by obtaining objective information about target markets.
The document provides marketing lecture notes that cover key topics about marketing including definitions of marketing, the 4 P's of marketing (product, price, place, promotion), marketing strategies, e-marketing, and examples of successful marketing stories. The notes define marketing and discuss product life cycles, promotion methods, the components of a marketing plan, and the advantages of e-marketing.
Opportunity Analysis, Market Segmentation, and Market Targeting by Mostafa E...Mostafa Ewees
This document discusses opportunity analysis, market segmentation, and market targeting. It defines key terms like market, market segmentation, and market targeting. It also describes how to analyze opportunities, segment markets, target specific segments, and estimate market sales potential and forecasts. The key steps in opportunity analysis, segmentation, targeting, and sales estimation are outlined.
The document discusses the nature and scope of marketing research. It defines market research as the acquisition of primary data about customers and demand for products, while marketing research is the broader systematic process of generating information to aid marketing decisions. Marketing research covers areas like market research, new product testing, advertising effectiveness, and research on competitors. It is used by organizations to better understand customers, identify opportunities, evaluate marketing actions, and monitor performance.
Cultural, social, psychological, and behavioral factors influence consumer behavior and decision-making. Market segmentation involves dividing the overall market into distinct subgroups based on characteristics like demographics, geographics, psychographics, and behaviors. When targeting specific market segments, companies profile the segments to understand their needs, attitudes, and lifestyles in order to develop effective marketing strategies.
Marketing information systems gather, analyze, and distribute market data to aid marketing decisions. They represent a balance between manager needs and economic feasibility. MKIS have four main components: marketing control, planning, research, and decision support systems. MKIS are organized with information flowing from production to customers and back to the company through manufacturers.
Marketing research systematically studies marketing problems to inform solutions. It became popular in the 1950s while MKIS emerged in the 1960s using computers. Research is retrospective while MKIS is continuous. Both aim to aid decision-making but MKIS has a broader scope.
This document provides an overview of strategic market segmentation. It discusses why segmentation is important for finding gaps in the market, differentiating offerings, and capturing market share. The document then outlines the segmentation process, including identifying segment variables, selecting segmentation methods, analyzing segments, and selecting target segments. Standard examples of segmentation for B2C and B2B markets are provided for industries like automobiles, food and beverages, technology, and more. The document concludes with discussions on finer segmentation strategies and factors to consider when selecting a segmentation approach.
Chap 3, analyzing the marketing environmentRajesh Kumar
The document discusses the marketing environment and its internal and external factors. It summarizes that the marketing environment includes a company's microenvironment of departments and macroenvironment external forces that influence marketing activities. It also outlines the key elements of a company's internal microenvironment and external macroenvironment forces like demographics, economy, natural environment, technology, politics, and culture.
The document discusses Marketing Information Systems (MKIS), which interact with information users to assess needs, develop internal and external information, and help users analyze information for marketing decisions. It defines MKIS and outlines their key functions, components, and processes. Specifically, it discusses developing marketing information through internal data, marketing intelligence, and marketing research. It also addresses the cost-benefit aspects and challenges of implementing effective MKIS.
The document discusses consumer and business buying behavior and processes. It covers factors that influence consumer and business decisions, including product, price, place, and promotion. It also outlines the consumer decision process, adoption of new products, and different types of business buying situations and the processes involved.
Organizations analyze their marketing environment to identify opportunities and threats. The microenvironment includes internal forces like employees and suppliers that directly affect the company. The macroenvironment includes larger forces like economic conditions and technology that influence the whole microenvironment. Key parts of the environment include customers, competitors, and socio-cultural factors that shape consumer behavior. Companies must understand how these environmental elements interact so they can adapt their marketing strategy accordingly.
The Philippine Market Environment and Marketing Information & Market ResearchJenica Bodestyne
This document discusses market research and marketing information systems. It begins by defining key marketing concepts like markets, place, economics and marketing. It then outlines the main functions of marketing including research, buying, product development, promotion, pricing, distribution, financing and after-sales service. The document also differentiates between micro and macro environments and their influence on organizations. It defines a marketing information system as a way to gather and analyze marketing data for decision making. Finally, it outlines the process of conducting market research from defining the problem to analyzing data and preparing a report.
In this presentation we review how to:
Conduct a Market Situation Analysis
Conduct a SWOT analysis
Describe the critical factors to business success in the marketplace
Outline your financial objectives and projection
Create your marketing objectives and strategy
List your steps for implementation
A market is where buyers and sellers exchange goods and services. Companies aim to reduce costs and satisfy consumer needs better than competitors. Organizations have business objectives while marketing objectives focus on consumers to help achieve business goals. The marketing department conducts sales, research, promotion, and distribution. SWOT and market segmentation analyses help understand strengths, weaknesses, opportunities, threats, and consumer segments. The marketing mix of product, price, place, and promotion supports branding and customer satisfaction.
This document provides an overview of chapters and concepts related to consumer and business markets from two textbooks - Kottler and Wood. It discusses how markets can be segmented based on geographic, demographic, psychographic and behavioral factors. Key psychological processes that influence consumer behavior are also examined, including motivation, perception, learning and the consumer decision-making process. When analyzing business markets, considerations include identifying members of the buying center, understanding organizational buying situations and building strong business-to-business relationships. Effective market segmentation requires segments that are measurable, substantial, accessible, differentiable and actionable.
International marketing involves identifying goods and services customers abroad want and providing them at the right price and place, with some modifications to marketing efforts to suit each country or locale. While multinational enterprises can use universal promotion themes, strategies must be tailored to appeal directly to local customers. International market assessment, the first of five major areas of international marketing strategy, involves evaluating what a multinational can sell globally through a screening process analyzing basic needs, financial/economic conditions, political/legal forces, social/cultural forces, and competitive environments in potential markets to select final locations.
This document provides an overview of tools and processes for conducting global marketing research and analysis. It discusses PESTEL analysis for examining political, economic, social, technological, legal and environmental factors. It also explains SWOT analysis for identifying internal strengths and weaknesses as well as external opportunities and threats. The document then outlines the global marketing research process and types of research conducted, including on industries, buyers, products, distribution and promotion. It introduces decision support systems and sales forecasting techniques used in international marketing.
Global marketing Plan External & Internal Analysis pptMoriba Touray
It should be apparent by now that companies and organizations planning to compete effectively in world markets need a clear and well-focused international marketing plan that is based on a thorough understanding of the markets in which the company is introducing its products. The challenge, then, of international marketing is to ensure that any international strategy has the discipline of thorough research, and an understanding and accurate evaluation of what is required to achieve a competitive advantage.
To develop a global strategy, a firm must understand the types of markets it competes in, which can include consumer, business, or government markets. Consumer markets depend on consumers' ability to buy, their needs, and their behavior, which can vary greatly between countries due to factors like income levels, cultural attitudes, and preferences. Segmenting consumer markets allows firms to target specific groups within a country. Business buyers are more predictable globally as they are influenced more by economic factors than social or cultural ones. Government markets involve highly administrative buying processes and negotiating contracts, which sometimes go to the lowest bidder, requiring global marketers to navigate complex bidding. Bribery of government officials can be more common in emerging markets.
This document discusses market segmentation and targeting attractive market segments. It begins by defining a market as a group of potential customers and a market segment as a subgroup within the market that shares similar characteristics. The document notes that market segmentation is important because not all customers have the same needs. It lists benefits of segmentation such as identifying new product opportunities and improving marketing efficiency. Drawbacks include missing customers that don't fit segments. Common ways to define segments include demographics, geography, and customer behaviors. The document provides several examples of segmenting consumer and business markets. It concludes with discussing tools like a segment rating chart and market attractiveness/competitive position matrix to evaluate segments and determine which to target.
The document discusses the key concepts of marketing including definitions of marketing, the marketing concept, and the evolution of marketing philosophies over time. It provides definitions of marketing from various organizations and experts. It describes the progression from a production concept focused on mass production to a selling concept focused on persuading customers, to today's customer-centric marketing concept focused on satisfying customer needs. The functions, scope, and importance of marketing are also summarized.
The document discusses various topics related to international marketing including:
1. Definitions of international marketing as marketing activities carried out across national boundaries and as a multinational process of planning various marketing activities.
2. The main differences between international and domestic marketing are that international marketing involves activities across more than one country and is more complicated due to legal, cultural and other restrictions in foreign countries.
3. International marketing involves identifying customer needs and wants in international markets and adapting the marketing mix to diverse international customers and markets.
Marketing research involves defining problems, gathering information through primary and secondary data collection, and proposing solutions. It is important for understanding customers, competitors, and the business environment. Common marketing research methods include surveys, focus groups, observations, experiments, and analysis of consumer data. The goal is to inform business decisions by obtaining objective information about target markets.
The document provides marketing lecture notes that cover key topics about marketing including definitions of marketing, the 4 P's of marketing (product, price, place, promotion), marketing strategies, e-marketing, and examples of successful marketing stories. The notes define marketing and discuss product life cycles, promotion methods, the components of a marketing plan, and the advantages of e-marketing.
Opportunity Analysis, Market Segmentation, and Market Targeting by Mostafa E...Mostafa Ewees
This document discusses opportunity analysis, market segmentation, and market targeting. It defines key terms like market, market segmentation, and market targeting. It also describes how to analyze opportunities, segment markets, target specific segments, and estimate market sales potential and forecasts. The key steps in opportunity analysis, segmentation, targeting, and sales estimation are outlined.
The document discusses the nature and scope of marketing research. It defines market research as the acquisition of primary data about customers and demand for products, while marketing research is the broader systematic process of generating information to aid marketing decisions. Marketing research covers areas like market research, new product testing, advertising effectiveness, and research on competitors. It is used by organizations to better understand customers, identify opportunities, evaluate marketing actions, and monitor performance.
Cultural, social, psychological, and behavioral factors influence consumer behavior and decision-making. Market segmentation involves dividing the overall market into distinct subgroups based on characteristics like demographics, geographics, psychographics, and behaviors. When targeting specific market segments, companies profile the segments to understand their needs, attitudes, and lifestyles in order to develop effective marketing strategies.
Marketing information systems gather, analyze, and distribute market data to aid marketing decisions. They represent a balance between manager needs and economic feasibility. MKIS have four main components: marketing control, planning, research, and decision support systems. MKIS are organized with information flowing from production to customers and back to the company through manufacturers.
Marketing research systematically studies marketing problems to inform solutions. It became popular in the 1950s while MKIS emerged in the 1960s using computers. Research is retrospective while MKIS is continuous. Both aim to aid decision-making but MKIS has a broader scope.
This document provides an overview of strategic market segmentation. It discusses why segmentation is important for finding gaps in the market, differentiating offerings, and capturing market share. The document then outlines the segmentation process, including identifying segment variables, selecting segmentation methods, analyzing segments, and selecting target segments. Standard examples of segmentation for B2C and B2B markets are provided for industries like automobiles, food and beverages, technology, and more. The document concludes with discussions on finer segmentation strategies and factors to consider when selecting a segmentation approach.
Chap 3, analyzing the marketing environmentRajesh Kumar
The document discusses the marketing environment and its internal and external factors. It summarizes that the marketing environment includes a company's microenvironment of departments and macroenvironment external forces that influence marketing activities. It also outlines the key elements of a company's internal microenvironment and external macroenvironment forces like demographics, economy, natural environment, technology, politics, and culture.
The document discusses Marketing Information Systems (MKIS), which interact with information users to assess needs, develop internal and external information, and help users analyze information for marketing decisions. It defines MKIS and outlines their key functions, components, and processes. Specifically, it discusses developing marketing information through internal data, marketing intelligence, and marketing research. It also addresses the cost-benefit aspects and challenges of implementing effective MKIS.
The document discusses consumer and business buying behavior and processes. It covers factors that influence consumer and business decisions, including product, price, place, and promotion. It also outlines the consumer decision process, adoption of new products, and different types of business buying situations and the processes involved.
Organizations analyze their marketing environment to identify opportunities and threats. The microenvironment includes internal forces like employees and suppliers that directly affect the company. The macroenvironment includes larger forces like economic conditions and technology that influence the whole microenvironment. Key parts of the environment include customers, competitors, and socio-cultural factors that shape consumer behavior. Companies must understand how these environmental elements interact so they can adapt their marketing strategy accordingly.
The Philippine Market Environment and Marketing Information & Market ResearchJenica Bodestyne
This document discusses market research and marketing information systems. It begins by defining key marketing concepts like markets, place, economics and marketing. It then outlines the main functions of marketing including research, buying, product development, promotion, pricing, distribution, financing and after-sales service. The document also differentiates between micro and macro environments and their influence on organizations. It defines a marketing information system as a way to gather and analyze marketing data for decision making. Finally, it outlines the process of conducting market research from defining the problem to analyzing data and preparing a report.
In this presentation we review how to:
Conduct a Market Situation Analysis
Conduct a SWOT analysis
Describe the critical factors to business success in the marketplace
Outline your financial objectives and projection
Create your marketing objectives and strategy
List your steps for implementation
A market is where buyers and sellers exchange goods and services. Companies aim to reduce costs and satisfy consumer needs better than competitors. Organizations have business objectives while marketing objectives focus on consumers to help achieve business goals. The marketing department conducts sales, research, promotion, and distribution. SWOT and market segmentation analyses help understand strengths, weaknesses, opportunities, threats, and consumer segments. The marketing mix of product, price, place, and promotion supports branding and customer satisfaction.
This document provides an overview of chapters and concepts related to consumer and business markets from two textbooks - Kottler and Wood. It discusses how markets can be segmented based on geographic, demographic, psychographic and behavioral factors. Key psychological processes that influence consumer behavior are also examined, including motivation, perception, learning and the consumer decision-making process. When analyzing business markets, considerations include identifying members of the buying center, understanding organizational buying situations and building strong business-to-business relationships. Effective market segmentation requires segments that are measurable, substantial, accessible, differentiable and actionable.
The document discusses key concepts in modern marketing. It defines marketing as identifying and meeting human and social needs profitably. The scope of marketing has expanded beyond traditional goods and now includes services, experiences, organizations and ideas. Core concepts discussed include segmentation, targeting specific customer groups, and positioning offerings to deliver benefits to targets. New capabilities enabled by technology allow more customized and data-driven marketing approaches across touchpoints. Performance marketing requires understanding both financial and non-financial returns from activities.
Core Concept of Marketing, Nature and Scope of Marketing, Importance, Selling Vs Marketing, Marketing Concepts, Segmentation, Basis of Segmentation, Targeting, Strategies of Targeting, Positioning, Strategieis of Positioning, Consumer Markets and Buying Behaviour, Consumer Behaviour, Buying Decision Behaviour
This document discusses customer segmentation and target marketing. It covers the consumer buying process, segmenting markets, and targeting markets. Specifically, it describes segmenting approaches for consumer markets, including demographic, behavioral, psychographic, and geographic segmentation. It also discusses segmenting business markets and the business buying process. The goal of segmentation is to divide the total market into homogeneous segments to better meet customer needs.
This document provides an overview of strategic marketing concepts. It defines marketing and describes the key elements of the marketing mix - product, price, place, and promotion. It explains how marketing creates value for customers and focuses on satisfying customer needs. The document also summarizes the marketing environment, the marketing concept, and the importance of building customer relationships. It outlines the evolution of the marketing philosophy and discusses the role of marketing in the global economy.
The document discusses various steps and concepts related to identifying business opportunities including generating ideas, screening opportunities, formulating business concepts, and conducting market analysis. It describes scanning the external environment to identify customer needs and macro trends. The screening process involves analyzing opportunities at the personal and firm level. Methods of collecting market intelligence like surveys and publications are outlined. Conducting an environmental analysis and identifying threats and opportunities is described as part of formulating the business concept. Key aspects of market analysis like market size, segments, trends, and industry cost structure are also summarized.
Marketing involves identifying customer needs and satisfying them profitably. It includes market segmentation, analyzing competition and the marketing environment. The marketing mix consists of the 4Ps - product, price, place and promotion. Forecasting demand is important for production planning. Different forecasting methods use past data like moving averages or factor in external variables through regression analysis. Pricing strategies must consider costs, competition and perceived value. Advertising objectives can be to inform, persuade or remind customers. Sales promotion provides short-term incentives to encourage purchases.
The document outlines the objectives, outcomes and modules of a Marketing Management course. The objectives include understanding marketing concepts, consumer behavior, product management strategies, marketing mix elements, and emerging trends. The outcomes focus on comprehending business management science, analyzing market situations, and developing ethical and entrepreneurial skills. The modules will cover topics such as the introduction to marketing, marketing environment, and consumer behavior.
Marketing management and sales force managementKrishna Kanth
This presentation discusses key concepts in marketing management including needs, wants, demands, markets, and the evolution of marketing concepts from production to societal marketing. It also summarizes sales force management topics like recruiting, selecting, training, supervising, and evaluating salespeople. The presentation provides an overview of fundamental marketing and sales force management principles.
This document provides an overview of identifying and evaluating marketing opportunities. It discusses key marketing concepts like value, customer satisfaction, exchange and transaction. It also covers analyzing market information to identify opportunities, researching new markets, and taking an entrepreneurial approach to developing ideas into marketing opportunities. The document emphasizes exploring innovation and being alert to new opportunities.
This file is related with the Business Research subject based on the Chapter of Customer Driven Marketing Strategy ,Chapter No.11 of Contemporary issues in Business.
This presentation discusses key concepts in marketing management including needs, wants, demands, markets, and different marketing concepts. It also summarizes sales force management topics such as recruiting, selecting, training, supervising, and evaluating salespeople. The marketing concepts covered include the production, product, sales, marketing, and societal marketing concepts. The goals of sales force management are analyzed, planned, implemented, and controlled to direct the flow of goods from producers to consumers.
The document provides an overview of marketing and marketing management, defining marketing as a process of understanding customer needs and delivering value through products and services, with the goal of attracting new customers and retaining existing ones. It discusses marketing management philosophies like the production, product, selling, and marketing concepts. The chapter outlines then cover topics in marketing environments, market opportunities, strategy, and the marketing mix.
Lesson 4 OMTE 001 Environments And Strategic Management.pptxRodantesRivera3
The document discusses strategic management and how a company's strategy is influenced by analyzing its external environment and internal strengths and weaknesses. It explains frameworks for evaluating the business environment like PESTEL and Porter's Five Forces, and tools for situational analysis including SWOT. Additionally, it covers the stages of strategic management, different types of strategies, and how factors of the external environment can impact a company's strategy.
The document discusses the marketing environment and its levels. It describes the internal environment as factors within an organization, and the external environment as outside factors divided into micro and macro levels. The micro environment includes customers, competitors and partners. The macro environment consists of larger societal forces like political, economic, social and technological (PEST) factors that can impact organizations. PEST analysis examines how these macro environmental factors affect businesses.
Marketing research is the careful and objective study of product design, markets, and such transfer activities as physical distribution and warehousing, advertising and sales management. these slides will not only discuss marketing research but it will discuss MIS and Consumer behaviour
This document discusses marketing concepts and events marketing. It begins with an overview of key marketing terms and concepts like the marketing mix, segmentation, targeting, positioning, and the components of a marketing plan. It then provides examples of PepsiCo's "Pepsi Challenge" promotional event from the 1980s as a case study of how events can be used in marketing. The document aims to explain why event managers should understand marketing and how events fit into the broader marketing mix and tactics.
Chapter 1 DEFINING MARKETING FOR THE 21st CENTURYNishant Agrawal
DEFINING MARKETING FOR THE 21st CENTURY
WHAT IS MARKETED?
DEMAND STATES
Core MARKETING CONCEPTS
MARKETING CONCEPTS
Company orientation
Towards marketplace
COMPANY ORIENTATION
Holistic Marketing Concept
Understand four Ps (Marketing Mix)
MARKETING TASKS
2. MARKETING, MARKET &
MARKETING MANAGEMENT
• Marketing: Understanding and satisfying the needs of the customer
profitably.
• Philip Kotler defines marketing as 'satisfying needs and wants
through an exchange process.
• Market: Place or space or an environment where actual sellers and
potential buyers meet.
• Marketing management: Marketing management is the process of
planning, organizing, directing and controlling the activities relating
to the marketing of goods and services to satisfy the
customers wants.
3. NEED
• A state of felt deprivation.
• They include basic Physical needs - food, clothing, warmth
and safety; Social needs - belongings and affection; Individual
needs- self-expression and knowledge
• Example: An American, British or Asian needs food as lunch.
4. WANT
• The form taken by a human need as shaped by culture and
individual personality.
• Wants are shaped by culture and individual personality.
• Example: An American/British needs food as lunch but his/her
wants are Hamburger, fries and drinks.
• An Asian needs food but his/her wants are 'Chicken Korma,
rice and drinks'
5. DEMAND
• Human wants that are backed by buying power.
• Human want to choose products that provide the most value
and satisfaction for their money. When backed by buying
power, wants become demands.
• Example: Whenever the American, British or Asian person
have sufficient money to afford those wants, that would be
their demand.
6. TARGET MARKET
• Philip Kotler defines a target market as
“A well-defined set of customers whose needs the
organization plans to satisfy.”
• He suggests that the target market may be the total focus of
the organization or it may be viewed as only a starting point
for later expansion to other market segments
7. MARKETING Vs. SELLING
• Marketing: Anticipating and satisfying customer needs
• Identifies appropriate prospects
• Effectively communicates image and capabilities of the firm
• Creates awareness of, and emphasizes an appeal—a differentiation
factor—about the firm
• Perfects customer service
• Requests feedback from clients on a regular basis
• Anticipates and meets needs Marketing often necessitates cultural
changes at every level in the firm
• Selling: Selling is offering to exchange an item of value for a different
item or money. Includes:
•
•
•
•
•
Proactive seeking of prospects
Interacting to qualify prospects
Effective acknowledgment of the prospect’s concerns
Closing the sale—getting hired
Following up and staying in contact when not hired
8. VALUE PROPOSITION
• A value proposition is a clear statement of the tangible or
intangible results a customer gets from using your products or
services.
• It’s outcome focused and stresses the business value of your
offering.
9. VALUE DELIVERY
• It is the process of
• Choosing the value: Identifying the customers needs which are
fulfilled by the existing products or services in the market.
• Providing the value: Creating a product or service that offers the
value.
• Communicate Value: Creating the awareness about the product
or service in the market through advertising and promotion.
10. POTENTIAL MARKET &
PENETRATED MARKET
• Potential Market: Aggregate of all individuals, firms, and
organizations in a particular market who have some level of interest
in a particular product.
• Penetrated Market: A set of customers or clients who are already
using a particular product or service.
• A penetrated market means that the potential users of a product or
service are aware of it, and in many cases are active consumers of it.
• Markets that are not penetrated may be called potential markets,
available markets, or target markets.
11. MARKET DEMAND & MARKET
SHARE
• Market Demand: The total demand of every individual willing and
able to buy a good.
• Market demand is found by combining the individual demands of
everyone willing and able to buy a particular good.
• Market Share: Market share is your percentage of total sales to a
given market.
• Market share can be measured in unit sales (for example, 225,000
units out of a total market of 1,000,000 units), or in purchasing units
(225,000 people out of the total market of 1,000,000 buy your
product)
12. MICRO & MACRO
ENVIRONMENT
• Micro Environment: Factors or elements in an organization's immediate area of
operations that affect its performance and decision-making freedom.
• These factors include competitors, customers, distribution channels, suppliers,
and the general public.
• Macro Environment: The major external and uncontrollable factors that
influence an organization's decision making, and affect its performance and
strategies.
• These factors include the economic factors; demographics; legal, political, and
social conditions; technological changes; and natural forces.
• Specific examples of macro environment influences include competitors,
changes in interest rates, changes in cultural tastes, disastrous weather, or
government regulations.
13. MARKETING INTELLIGENCE
SYSTEMS
• A set of procedures and sources used by managers to obtain everyday
information about developments in the marketing environment.
• Marketing managers collect marketing intelligence by reading books,
newspapers, and trade publications; talking to customers, suppliers, and
distributors; monitoring "Social Media" on the internet via online discussion
groups; e-mailing lists and blogs and meeting with other company managers.
• Example:
• Market Reports (From agencies like Neilsen or Forrester)
• Competitive information (Competitors’ brochures, products, websites, etc.)
• Internal Databases (Customer databases)
• Competitive intelligence (SWOT analysis)
14. MARKETING INFORMATION
SYSTEMS
• People, equipment, and procedures to gather, sort, analyse, evaluate, and
distribute needed, timely, and accurate information to marketing decision
makers.
• Marketing information systems are designed specifically for managing the
marketing aspects of the business.
15. DEMOGRAPHIC
ENVIRONMENTAL FACTORS
• Demography is the study of human populations in Technological terms
of size, density, location, age, sex, race, occupation, and other statistics.
• It is of major interest to marketers because it involves people and people make
up markets.
• Demographic trends are constantly changing.
• For example:
• Population (China because of its largest population offers a location for low cost
production)
• Age structure ( Japan with largest percentage of people above 50 years and India- with
two thirds of its population within 30 years)
• Generation (Baby bloomers , Echo boomers, etc)
16. TECHNICAL ENVIRONMENTAL
FACTORS
• The speed of technological advances means that existing electronic equipment,
IT processes and systems will quickly become dated.
• To remain competitive a business must ensure that its processes and systems
support innovation and creativity for itself and its customers.
• Example: Cloud Computing
17. POLITICAL FACTORS
• A political system is basically the system of politics and government in a country. It governs a
complete set of rules, regulations, institutions, and attitudes.
• A main differentiator of political systems is each system’s philosophy on the rights of the
individual and the group as well as the role of government.
• Examples:
•
How stable is the government?
•
Is it a democracy or a dictatorship?
•
If a new party comes into power, will the rules of business change dramatically?
•
Is power concentrated in the hands of a few, or is it clearly outlined in a constitution or similar
national legal document?
•
How involved is the government in the private sector?
•
Is there a well-established legal environment both to enforce policies and rules as well as to
challenge them?
•
How transparent is the government’s political, legal, and economic decision-making process?
18. LEGAL FACTORS
• Legal factors that affects the business conditions.
• Three main kinds of legal systems—common law, civil law, and religious or theocratic
law. Most countries actually have a combination of these systems, creating hybrid
legal systems.
• For example, in Islamic law, business is directly impacted by the concept of interest.
According to Islamic law, banks cannot charge or benefit from interest. This provision
has generated an entire set of financial products and strategies to simulate interest—
or a gain—for an Islamic bank, while not technically being classified as interest. if a
company wants to borrow money from an Islamic bank, it would sell its assets or
product to the bank for a fixed price. At the same time, an agreement would be
signed for the bank to sell back the assets to the company at a later date and at a
higher price. The difference between the sale and buyback price functions as the
interest
19. ECONOMIC ENVIRONMENTAL
FACTORS
• The economy is made up of several components, such as wealth,
income, interest, employment and productivity.
• Any of these economic environment components can change and affect
the others, whether positively or negatively.
• Examples:
• Income
• Inflation
• Recession
• Interest Rate
• Exchange Rate
20. MARKETING RESEARCH
• According to Kotler, “Systematic problem analysis, model-building and
fact-finding for the purpose of improved decision-making and control in
the marketing of goods and services.”
• It is the systematic design, collection, analysis, and reporting of data and
findings relevant to a specific marketing situation facing the company
• 4 steps in marketing research:
• Defining the Problem
• Defining the Research plan
• Collect information
• Final Report
21. FOCUS GROUPS
• A carefully planned series of discussions designed to obtain perceptions on
a defined area of interest in a permissive, non-threatening environment.
• Give information on
• How groups of people think or feel about a particular topic
• Give greater insight into why certain opinions are held
• Help improve the planning and design of new programs
• Provide a means of evaluating existing programs
• Produce insights for developing strategies for outreach.
22. EXPERIMENTAL RESEARCH
• Experimental research is a phrase that refers to a kind of research that is
guided by hypotheses (or several hypotheses) that states the anticipated
relationship between two or more variables.
• Example:
• It is based on a methodology that meets three criteria:
• Random assignment—the subjects (or other entities)
• Experimental control—all features of the treatments are identical except
for the independent variable.
• Appropriate measures—the dependent measures are appropriate for
testing the research hypothesis.
23. MARKETING METRICS
• Marketing metrics are statistical measurements by which
companies judge the effectiveness of their individual
marketing efforts.
• These metrics vary depending upon the size and type of
marketing campaign initiated and the goals of the company
for the specific campaign.
24. SALES FORECAST
• Projection of achievable sales revenue, based on historical sales data,
analysis of market surveys and trends, and salespersons' estimates.
• Also called sales budget, it forms the basis of a business plan because
the level of sales revenue affects practically every aspect of
a business.
• May be:
• Short term
• Medium term
• Long term
25. REFERENCE
• Philip Kotler, Principles of Marketing A South Asian
Perspective, 13th edition, Pearson Publishers.
• A set of procedures and sources used by managers to
obtain everyday information about developments in the
marketing environment accessed 28 August 2013,
<http://2012books.lardbucket.org/books/internationalbusiness-opportunities-and-challenges-in-a-flattening-
world/section_06_02.html>