A.introductintrodution of marketing Marketing Planning 1

8/13/2019 A.introductintrodution of marketing Marketing Planning 1

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Introduction to Marketing

Management

Chapter - 1
http://www.marketingteacher.com/


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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

A.introductintrodution of marketing Marketing Planning 1

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