AGENDA

Overview Key concepts Definitions What is marketed Tasks of marketing management VALUE Concept VBM- an introduction

BACK to BASICS

Needs Wants Demand

Activities in Sales & Marketing

CREATE Demand: Gaining new customers Regaining lost consumers

CATER Demand: Retaining existing consumers

What is MARKETING

A science An art A business function A process A philosophy

What is Marketed? Goods Services Events Experiences Persons Places Properties Organizations Information Ideas

TASKS of Marketing Management Developing marketing strategies & plans Capturing insights Connecting with consumers Building strong brands Shaping market offerings Delivering value Communicating value Creating long term growth

VALUE Concept

“Marketing is all about CREATING, COMMUNICATING & DELIVERING VALUE”

VALUE FRAME WORK

Selecting the value Creating the value Communicating the value Delivering the value Capturing the value back from the

market Enhancing the value

DISTINGUISH

SELLING Selling starts with

a seller & needs of the seller

Business as “goods producing process”

Cost determines the price

MARKETING Marketing starts

with buyers & their needs

Business as “customer satisfying process”

Consumer determines the price

THE BCG MATRIX

Porter's 5 FORCES MODEL

SWOT Analysis

WEAKNESSSTRENGTHS

OPPORTUNITIES THREATS

PEST Analysis

Political Economic Social Technological Environmental Legal Ethical