basic marketing management
TRANSCRIPT
the process of planning and executing the conception, pricing,
promotion, and distribution of ideas, goods, and services to
create exchanges that satisfy individual and organizational
objectives.
DEFINITION OF MARKETING
The process by which companies create, communicate and
deliver value for the target customers in order to get value in
return.
WHAT IS MARKETING?
Marketing management is the art and science of choosing
target markets and getting, keeping, and growing customers
through creating, delivering, and communicating superior
customer value.
WHAT IS MARKETING MANAGEMENT?
Goods
Services
Events and experiences
Persons
Places and properties
Organizations
Information
Ideas
WHAT IS MARKETED?
Market focus
Customer orientation
Co-ordinated marketing
Profit seeking
THE MARKETING CONCEPT -
FOCUS ON THE CUSTOMER
Marketing Analysis
Marketing Planning
Marketing Implementation
Marketing Control
THE ROLE OF MARKETING
Gathering, recording
and analysis of data
to solve a specific
problem that is too
important to be answered by guessing
an informational input to decisions
MARKETING RESEARCH
How satisfied the consumers are
How products are perceived
Evaluate the sales potential
Determine the effectiveness of ad
Predict the impact of price changes
WHAT M.R. CAN TELL ?
THE MARKETING RESEARCH PROCESS
Defining the Problem & Research Objectives
Developing the Research Plan
Implementing the Research Plan
Interpreting and Reporting the Findings
To find out the real problem but not the symptom
Set the research objectives
Research approaches:
exploratory
descriptive
causal
1. DEFINING THE PROBLEM AND
RESEARCH OBJECTIVES
Determine specific information needs
Source of information
secondary data
Internal
External
primary data
2. DEVELOPING RESEARCH PLAN
Planning primary data collection
research approach
contact methods
sampling plan
research instruments
2. DEVELOPING RESEARCH PLAN
Sampling Techniques
Probability Sampling
• All population members have a knownprobability of being in the sample
Simple Random Sampling
• Each population member, and each possiblesample, has equal probability of beingselected
Stratified Sampling
• The chosen sample is forced to contain unitsfrom each of the segments or strata of thepopulation
Sampling Techniques (Contd.)
Cluster Sampling
• Involves dividing population into subgroups
• Random sample of subgroups/clusters is
selected and all members of subgroups are
interviewed
• Very cost effective
• Useful when subgroups can be identified
that are representative of entire population
Research instrument
The most common instrument is questionnaire
• what questions to ask
• question structure
• wording of question
• order of question
Interpreting and reporting the finding
• Interpret the findings, draw conclusions
and report to management
• the manager will
utilize these findings
to make decisions