THARAKA DIASMBA(USA), BBA(USA), Dip in Mgt,ACIM(UK), FAEA(Dip in AEA-UK),FinstSMM(UK), CPM(Asia), MSLIM
Why is marketing important? What is the scope of marketing? What are some fundamental marketing concepts? How has marketing management changed? What are the tasks necessary for successful marketing management?
Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.
Marketing management is the art and science of choosing target markets and getting, keeping, and growing customers throughcreating, delivering, and communicating superior customer value.
Goods Places and properties Services Organizations Events and Information experiences Ideas Persons
Four Ps Four Cs Product Customer solution Price Customer cost Place Convenience Promotion Communication
Needs, wants, and Marketing demands channels Target markets, Supply chain positioning, Competition segmentation Marketing Offerings and environment brands Marketing Value and planning satisfaction
Developing Shaping market marketing offerings strategies Delivering value Capturing Communicating marketing insights value Connecting with Creating long- customers term growth Building strong brands
Strengthening the brands Measuring marketing effectiveness Driving new product development based on customer needs Gathering meaningful customer insights Utilizing new marketing technology
Make the mission and responsibilities clear Fit the role to the marketing culture and structure Ensure the CMO is compatible with the CEO Remember that show people don’t succeed Match the personality with the CMO type Make line managers marketing heroes Infiltrate the line organization Require right-brain and left-brain skills
A substantial increase in buying power A greater variety of available goods and services A great amount of information about practically anything Greater ease in interacting and placing and receiving orders An ability to compare notes on products and services An amplified voice to influence public opinion
Internal marketing is the task ofhiring, training, and motivating able employees who want to serve customers well.
Financial Accountability Social Initiatives Social Responsibility Corporate social Marketing marketing Cause marketing Corporate philanthropy Corporate community involvement Socially responsible business practices