mm session1

Marketing Management 101

Roy Dominic S. Damasco

MARKETING MANAGEMENTMain Text Book Resource:Eighth EditionMarketing Management Analysis, Planning,, Implementation, and ControlPHILIP KOTHLER

MARKETING MANAGEMENT• Role of Marketing in Organizations and Society• Identifying Marketing Opportunities and Target

Markets• Developing Marketing Strategies• Planning. Organizing, Implementing, and

Controlling Marketing Programs• Trends in the Marketing World• Online Marketing

MARKETING MANAGEMENT 101House Rules1. Respect one another.2. No Phones, Turn it off or put in silent mode.3. Anything you miss when late or absent, you

cannot retake.4. Request for extra credits is welcome.5. 2 times late = 1 absent.6. 6 unjustified absences = Incomplete/Drop/Fail

FIRST QUIZ!!!1. What are the 7P’s and 1 C of Marketing? P2. P3. P4. P5. P6. P7. P8. C9. And 1010. Give 2 examples of commonly used Marketing Programs/Tools

ANSWERS1. Positioning2. Product3. Place4. Promotion5. Packaging6. People7. Price8. Customer9. Advertising, Market Research, Public Relations, Promotions, Sponsorships10. TV/Radio Commercials, Surveys, Posters, Banners, Flyers, Sale promo,

Coupons, Discount schemes, Motorcades, Celebrity Sponsorships, Contest Sponsorships

MARKETING MANAGEMENTMarketing, by Definition is…

- a social and managerial process by which individuals and groups obtain what they need and want through creating, offering, and exchanging products of value with others.

MARKETING MANAGEMENT

Marketing Management is the process of planning and executing the conception, pricing, promotion, and distribution of goods, services, and ideas to create exchange with target groups that satisfy customer and organizational objectives

CORE CONCEPTS OF MARKETING

Needs, Wants, and Demands Products Value, cost,

and Satisfaction

Exchange, Transactions,

and Relationships

MarketsMarketing and Marketers

CORE CONCEPTS OF MARKETING

Needs, Wants, and Demands Products Value, cost,

and Satisfaction

Exchange, Transactions,

and Relationships

MarketsMarketing and Marketers

NEEDS - A human need is a state of felt deprivation of some basic satisfaction. e.g. food, shelter, clothing, safety, and other things for survival.

WANTS – are desires for specific satisfiers of these deeper needs.e.g. food=hamburger, shelter=two-story house, clothing=versace

DEMANDS – wants for specific products that are supported by the ability and willingness to buy.e.g. many wants a 2013 Nissan Skyline GTR, few can only buy one. Or many wants a Louis Vuitton bag, few can only buy one.

CORE CONCEPTS OF MARKETING

CORE CONCEPTS OF MARKETING

Needs, Wants, and Demands Products Value, cost,

and Satisfaction

Exchange, Transactions,

and Relationships

MarketsMarketing and Marketers

CORE CONCEPTS OF MARKETING

Needs, Wants, and Demands Products Value, cost,

and Satisfaction

Exchange, Transactions,

and Relationships

MarketsMarketing and Marketers

CORE CONCEPTS OF MARKETING

Needs, Wants, and Demands Products Value, cost,

and Satisfaction

Exchange, Transactions,

and Relationships

MarketsMarketing and Marketers

CORE CONCEPTS OF MARKETING

Needs, Wants, and Demands Products Value, cost,

and Satisfaction

Exchange, Transactions,

and Relationships

MarketsMarketing and Marketers

CORE CONCEPTS OF MARKETING

MARKET -

A market consists of al the potential customers sharing a particular need or want who might be willing and able to engage in exchange to satisfy that need or want.

e.g. consumer market, philippine market, labor market.

CORE CONCEPTS OF MARKETING

Needs, Wants, and Demands Products Value, cost,

and Satisfaction

Exchange, Transactions,

and Relationships

MarketsMarketing and Marketers

The Production Concept

- consumers will favor those products that are widely available and in low cost. Concentrates on achieving high production efficiency and wide distribution.

situations: product exceeds supply, production cost must be lowered to expand the market

GUIDING CONCEPTS

The Product Concept

- Consumers will favor those products that offer the most quality, performance, or innovative features. Product Oriented companies focus energy on making superior products and continuously improving it.- relies on scientific research and engineering to improve products and not customer’s needs.

GUIDING CONCEPTS

GUIDING CONCEPTSThe Sales Concept

- Consumers, if left alone, will ordinarily not buy enough of the organization’s products.

- relies on aggressive selling and promotion efforts.

GUIDING CONCEPTSThe Marketing Concept

- key to achieving organization goals consists in determining the needs and wants of target markets and delivering the desired satisfactions more effectively and efficiently than competitors.- rests on four pillars; target market, customer needs, coordinated marketing, and profitability.

THE MARKETING CONCEPTTarget Market

- specific segment of the market with an identified need, which a product or a company wants to satisfy.- basis of Positioning, and in turn all marketing efforts.

- No company can play in all markets and satisfy every need.

THE MARKETING CONCEPTCustomer Needs

Kinds of Needs:1. Stated Needs2. Real Needs3. Unstated Needs4. Delight Needs5. Secret Needs.

– A company can define its target market but may fail to fully understand customer’s needs.Goals of Customer Oriented Programs- Customer Attraction- Customer Satisfaction- Customer Retention