A.introduction to marketing_planning_1
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Transcript of A.introduction to marketing_planning_1
Definitions of marketing
‘Marketing is the management process that identifies, anticipates and satisfies customer
requirements profitably’
The Chartered Institute of Marketing
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
What is Marketing?
• Management definition
It is 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 goals.
‘Marketing is the human activity directed at satisfying human needs
and wants through an exchange process’
Kotler 1980
‘The right product, in the right place, at the right time, and at the
right price’ Adcock et al
‘Marketing is a social and managerial process by which individuals and groups obtain
what they want and need through creating, offering and exchanging
products of value with others’Kotler 1991
Competition
• Potential and rival substitutes and offerings a buyer might consider.
• Competition can be viewed in various perspectives – brand, industry, form, generic
Marketing Environment
• Competition• Customers• Govt. policies• Suppliers• Trade
• Product• Import tariffs• Trends• Technology• Politics
Marketing Mix
• It is the tools that an organization employs to pursue its marketing objectives in the target market
• Product, Price, Place, Promotion
• 4 C’s – Customer solution, Cost, Convenience, Communication
Needs and Wants
• Needs are basic human requirements
• Wants are needs directed to specific objects/services that might satisfy the need
Product
• A product is any offering catered to satisfy needs and wants.
• A brand is when the product is from a known source.
Demand
• This is the wants for specific products backed by an ability to pay.
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?
The marketing concept
• choosing and targeting appropriate customers
• positioning your offering
• interacting with those customers
• controlling the marketing effort
• continuity of performance
Competition
• Potential and rival substitutes and offerings a buyer might consider.
• Competition can be viewed in various perspectives – brand, industry, form, generic
Marketing Environment
• Competition• Customers• Govt. policies• Suppliers• Trade
• Product• Import tariffs• Trends• Technology• Politics
Marketing Mix
• It is the tools that an organization employs to pursue its marketing objectives in the target market
• Product, Price, Place, Promotion
• 4 C’s – Customer solution, Cost, Convenience, Communication
Successful marketing requires:
• Profitable
• Offensive (rather than defensive)
• Integrated
• Strategic (is future orientated)
• Effective (gets results) Hugh Davidson 1972
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
Why is marketing planning necessary?
• Systematic futuristic thinking by management
• better co-ordination of a company’s efforts
• development of performance standards for control
• sharpening of objectives and policies
• better prepare for sudden developments