marketing -performance and future outlook

8/3/2019 Marketing -Performance and Future Outlook

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MarketingMarketing --PerformancePerformance andandFuture OutlookFuture Outlook

Prof. Rushen Chahal


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Marketing ManagementMarketing Management

ImplementationImplementationy There should be a close relationship among

planning, implementation, and evaluation in themanagement process.

Without planning, operational activities will have no

direction. Plans have to be implemented effectively to be useful

to the firm.

y The implementation stage includes three broadactivities:

Organizing the marketing effort.x Staffing the organization.

x Directing the execution of marketing plans.

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Organizational StructureOrganizational Structure

y Traditional vertical structures are being

replaced by horizontal organizations:

Fewer organizational levels

Employee empowerment

Cross-functional teams

y In a company-wide organization that

coincides with the marketing concept, allmarketing activities should be under one

marketing executive.

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PostPost--Sale FollowSale Follow--ThroughThrough

y Warranties

ExpressExpress

ImpliedImplied

yy Product LiabilityProduct Liability

x product design

x product defect

x customers warnings about proper use of

product

y Benefits vs. Costs

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Evaluating MarketingEvaluating Marketing

PerformancePerformance

y The process of evaluation should beginas soon as possible after plans havebeen set into operation.

Evaluation logically follows planning andimplementation.

Planning sets forth what should be donewhereas evaluations shows what really wasdone.

Evaluations are the starting point in thenext round of planning.

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MarketingStrategy

Evaluation


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The Marketing AuditThe Marketing Audit

y The Marketing AuditMarketing Audit is a comprehensivereview and evaluation of marketingfunctions.

Looks at environment, goals, resources,performance and organization.

y MisdirectedMarketing Effort

Often revealed by an audit

8080--20 Principle20 Principle reveals profitable customers Iceberg PrincipleIceberg Principle:More than meets the eye

Errors arise from incomplete information

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Evaluating ModernEvaluating Modern

MarketingMarketing

y Criticisms of marketing focus on action (or

inaction) that relate to the balance between

the organization objectives and the wantsof customers and the well-being of society.

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Criticisms of MarketingCriticisms of Marketing

y exploitation: taking unfair advantage of people orof situations

y inefficiency:using resources unnecessarily

y

stimulating unwholesome demand:promotingproducts and services that may be harmful

y inappropriate values

y engaging in illegal behaviour

y delivering poor customer servicey reliance on technology

y short term goals

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Consumer Responses to MarketingConsumer Responses to Marketing

IssuesIssues

y consumers responded to concerns through an

organized consumer movement

y they are today more prepared to protect

themselves and to register complaints

y consumers also seem more willing to stop dealing

with firms that do not deliver what the customer

wants in a way that is acceptable

y they are also turning their attention to broader

social and environmental issues

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Government ResponsesGovernment Responses

y governments at all levels have passed laws to

protect consumers and to regulate marketing

y these laws protect the consumer against physical

harm and against being misled

y much of the legislation is intended to ensure that

the customer has enough information to make a

reasoned purchase decision

y some public agencies regulate and control

markets in the interest of the customer

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Business ResponsesBusiness Responses

y business has responded with efforts to providebetter communication with the consumer

y business has responded to criticism with efforts toprovide the consumer with better information and

to make it accessible

y genuine efforts have been made to improve thequality of products and customer service

y businesses have established self-regulatorymechanisms to regulate advertising content

y many firms measure their quality of service andhave set up customer service departments

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Ethics and MarketingEthics and Marketing

y Ethics are standards of moral behaviour.

y Many businesses have formal codes of ethics.

y A simple ethical model is to ask the following

questions: Would I do this to a friend?

Would I be willing to have this done to me?

Would I be embarrassed if this action were

publicized nationally?

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Good Reasons toGood Reasons to

Behave EthicallyBehave Ethically

y To reverse the declining public confidence

in marketing.

y To avoid increases in government

regulations.

y To retain the social power granted by

society.

y To protect the image of the organization.

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Ethical Marketing andEthical Marketing and

Customer ImpactCustomer Impact

y Privacy a big issue as more data collected in data

warehouses.

y Telemarketing flashpoint for this.

y Direct marketing organizations try to refine lists.

y Social responsibility important in advertising.

Fashion advertising with super-thin models.

Labatt and Maximum Ice with 7.1% alcohol.

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Prospects for the FutureProspects for the Future

y Managers need to monitor events in themarketplace, identify opportunities, and respondwith want-satisfying products.

y Changes in the external environment that bearwatching:

Demographic shifts

Different values

Technological changes

Use of consumer information

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Changing Canadian ConsumersChanging Canadian Consumersy marketing will be affected by the changing

demographic profile of Canada

aging society; smaller households; etc

y customer values will continue to change andenvironmental matters will remain topical

broadened perspectives; more skeptical; moredifficult to please; more balanced life-styles

greater interest in entertainment; morespending on out-of-home entertainment

demands for better service

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Changing Canadian MarketplaceChanging Canadian Marketplace

y considerable impact of advanced technology

Internet marketing

fragmentation of the electronic media

double-sided effect on service delivery facilitates monitoring of customer purchasing

y greater availability of marketing information will

mean that customers can be targeted and

resources used more efficiently

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Adjusting to theAdjusting to the

New MarketingNew Marketing

y instituting a market-driven organization

y firms will not be able to escape globalization

y must recognize the importance of value

y must be greater emphasis placed on deliveringsuperior service and on satisfying customers

y everything that a firm does will have to beenvironmentally acceptable

y long-term success will involve building strongcustomer relationships

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marketing -performance and future outlook

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