a.introductintrodution of marketing marketing planning 1
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Introduction to Marketing
Management
Chapter - 1
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Definitions of marketing
Marketing is the management process that
identifies, anticipates and satisfies customer
requirements profitably
The Chartered Institute of Marketing
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What is Marketing?
Social definition
A societal process by which individuals and
groups obtain what they need and want
through creating, offering and freely
exchanging products and services of value
with others
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What is Marketing?
Management definition
It is the process of planningand executing
the conception, pricing, promotionand
distributionof ideas, goods and services to
create exchangesthat satisfy individual
and organizational goals.
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Marketing is the human activity
directed at satisfying human needs
and wants through an exchange
process
Kotler 1980
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The right product, in the right
place, at the right time, and at the
right priceAdcock et al
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Marketing is a social andmanagerial process by which
individuals and groups obtain
what they want and need throughcreating, offering and exchanging
products of value with othersKotler 1991
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Competition
Potential and rival substitutes and offerings
a buyer might consider.
Competition can be viewed in various
perspectivesbrand, industry, form,
generic
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Marketing Environment
Competition
Customers
Govt. policies
Suppliers
Trade
Product
Import tariffs
Trends
Technology
Politics
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Marketing Mix
It is the tools that an organization employs
to pursue its marketing objectives in the
target market
Product, Price, Place, Promotion
4 Cs Customer solution, Cost,
Convenience, Communication
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Needs and Wants
Needs are basic human requirements
Wants are needs directed to specific
objects/services that might satisfy the need
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Product
A product is any offering catered to satisfy
needs and wants.
A brand is when the product is from a
known source.
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Demand
This is the wants for specific products
backed by an ability to pay.
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Implications of marketing
Who are our existing / potential customers?
What are their current / future needs?
How can we satisfy these needs? Can we offer a product/ service that the customer
would value?
Can we communicate with our customers? Can we deliver a competitive product of service?
Why should customers buy from us?
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The Marketing Concept
Consumer orientation
Satisfy the customer (CRM)
Must do research to know customer wants/needs Goal orientation
Do long range planning
Set objectives (market share, long run profit)
Systems orientation
Diverse units integrated (e.g., new product development)
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Difference Between - Sales &
Marketing ? Sales
tryingto get the customer to want what the
companyproduces
Marketingtrying to get the company produce what the
customer wants
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Core Concepts ofMarketing
Based on :
Needs, Wants, Desires / demand
Products, Utility, Value & Satisfaction
Exchange, Transactions & Relationships
Markets, Marketing & Marketers.
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Scope What do we
market Goods
Services
Events Experiences
Personalities
Place
Organizations Properties
Information
Ideas and concepts
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In order to understand Marketing let usbegin with the Marketing Triangle
Customers
CompetitionCompany
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Who is a Customer ??
Anyone who is in the market looking at a product /
service for attention, acquisition, use or consumption
that s ati s fi esa want or a need
CUSTOMER IS . . . . .
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Customer
CUSTOMER has needs, wants, demandsand desires
Understanding these needs is starting point
of the entire marketing These needs, wants arise within a
framework or an ecosystem
Understanding both the needs and the
ecosystem is the starting point of a long termrelationship
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CONTENTS of MARKETINGPLAN
Business Mission Statement Objectives
Situation Analysis (SWOT)
Marketing Strategy
Target Market Strategy
Marketing Mix
Positioning
Product
Promotion
Price
PlaceDistribution
People
Process
Implementation, Evaluation and Control
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The Marketing Process
BusinessMission
Statement
Objectives
Situationor SWOTAnalysis
Implementation
Evaluation, Control
Target MarketStrategy
Marketing Strategy
Product
Promotion
Place/Distribution
Price
Marketing Mix
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The marketing concept
choosing and targeting appropriate
customers
positioning your offering
interacting with those customers
controlling the marketing effort continuity of performance
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Competition
Potential and rival substitutes and offerings
a buyer might consider.
Competition can be viewed in variousperspectivesbrand, industry, form,
generic
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Marketing Environment
Competition
Customers
Govt. policies Suppliers
Trade
Product
Import tariffs
Trends Technology
Politics
P d t It Li d
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Product Items, Lines, andMixes
Product Item
Product Line
Product Mix
A specific version of a productthat can be designated as adistinct offering among anorganizations products.
A group of closely-relatedproduct items.
All products that anorganization sells.
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Product Mix
Widthhow many product lines a company has
Lengthhow many products are there in a product line
Depthhow many variants of each product exist withina product line
Consistencyhow closely related the product lines are
in end use
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The Give and Get of Marketing
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What Changed in Marketing
Organize by product units Focus on profitable transactions Look primarily at financial
scorecard Focus on shareholders Marketing does the marketing Build brands through advertising Focus on customer acquisition No customer satisfaction
measurement Over-promise, under-deliver
Organize by customer segments Focus on customer lifetime value Look also at marketing scorecard
Focus on stakeholders Everyone does the marketing Build brands through performance Focus on customer retention Measure customer satisfaction and
retention rate Under-promise, over-deliver
Old Economy New Economy
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Marketing Mix
It is the tools that an organization employs
to pursue its marketing objectives in the
target market Product, Price, Place, Promotion
4 Cs Customer solution, Cost,
Convenience, Communication
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Successful marketing requires:
Profitable
Offensive (rather than defensive)
Integrated
Strategic (is future orientated)
Effective (gets results) Hugh Davidson 1972
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Marketing management process
Analysis/Audit - where are we now?
Objectives - where do we want to be?
Strategies - which way is best?
Tactics - how do we get there?
(Implementation - Getting there!)
Control - Ensuring arrival
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Why is marketing planning
necessary? Systematic futuristic thinking by
management
better co-ordination of a companys efforts
development of performance standards for
control
sharpening of objectives and policies
better prepare for sudden developments
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