Drive Marketing Automation Success - Cross-Functional Alignment
Functional Marketing Management
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Transcript of Functional Marketing Management
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DiplomaDiploma
INTRODUCTION TO MARKETING FUNCTIONINTRODUCTION TO MARKETING FUNCTION
Facilitator: Munif Ahmad
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Marketing Function
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What is Marketing?
Marketing consists of management tasks and decisions directed at successfully meeting opportunities and threats in a dynamic environment, by effectively developing and transferring a need-satisfying market offering to consumers in such a way that the objectives of the business, the consumer and society will be achieved.
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Key Topics
1. Introduction to marketing2. Marketing research3. Customer behaviour4. Market segmentation5. The marketing mix6. The marketing strategy7. Public relations
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Target Customers
IntendedPositioning
Price
Amount of moneythat consumers
have to pay to obtainthe product
Product
“Goods-and-service”combination that a company offers a
target market
Activities that persuade target
customers to buythe product
Promotion
Company activitiesthat make the
product available
Place
Marketing Mix- The Four P’s
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Marketing ResearchWhy?Know the research processMarket forecasting
1. Define the problem to be investigated2. Formulate hypotheses3. Investigate hypotheses4. Compile a questionnaire5. Test the questionnaire6. Select sample7. Train fieldworkers and do fieldwork8. Analyse data9. Interpret the results10. Compile the report11. Management studies report12. Management implements findings
Sales forecastingProfit forecasting
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Consumer Buying Behavior
Consumer Buying Behavior refers to the buying behavior patterns of decision making units (individuals & households) directly involved in the purchase and use of products, including the decision-making processes preceding and determining these behaviour patterns.
Study consumer behavior to answer:
“How do consumers respond to marketing efforts the company might use, why do they behave the way they do?”
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Customer behaviour
Awareness of need Gathering information Evaluation Purchase action Post purchase evaluation
INDIVIDUAL FACTORS
MotivationAttitude
PerceptionLearning ability
PersonalityLifestyle
GROUP FACTORS
FamilyReference groupOpinion leadersCultural group
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Individual Factors
MotivationMotivation
PerceptionPerception
LearningLearning
Beliefs and Attitudes
Beliefs and Attitudes
PersonalityAnd
lifestyle
PersonalityAnd
lifestyle
Factors Affecting Consumer Behavior: Individual
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Market segmentation
What is a market?Different types of markets:
• consumers• industrial• resellers• government
Approaches to the market – see fig 13.3
Requirements for successful segmentation:• Identifiable and measurable• Substantial• Accessible• Responsive
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CompanyCompany
ConsumerMarkets
InternationalMarkets
GovernmentMarkets
BusinessMarkets
ResellerMarkets
Customer Markets
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• Size, purchasing power, profiles of segments can be measured.
• Segments must be effectively reached and served.
• Segments must be large or profitable enough to serve.
Measurable Measurable
AccessibleAccessible
SubstantialSubstantial
DifferentialDifferential
ActionableActionable
• Segments must respond differently to different marketing mix elements & actions.
• Must be able to attract and serve the segments.
Requirements for Effective Segmentation
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Bases for segmentation
Demographic – Who they areGeographic – Where they arePsychographic – What they think they areBehavioural – How do they behave
All of the above determine the consumer profile – draw a picture
Targeting and positioning
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Geographic
DemographicAge, gender, family size
and life cycle, or income
PsychographicSocial class, lifestyle, or personality
BehavioralOccasions, benefits, uses, or responses
Nations, states, regions or cities,
density
Bases for Segmenting Consumer Markets
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The marketing instruments (mix)
1. Product
― Product concept― Product classification― Brand decisions― Packaging decisions― Differentiation― Obsolescence― Multi- product decisions― New product decisions
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The marketing instruments – Product (cont.)
New Product Development Process Develop new ideas Screen ideas Eliminate non viable ideas Develop product Develop strategy Test marketing Commercialisation
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Shopping ProductsShopping Products
> Buy less frequently> Gather product information> Fewer purchase locations> Compare for:
• Suitability & Quality • Price & Style
Convenience ProductsConvenience Products
> Buy frequently & immediately> Low priced> Many purchase locations> Includes:
• Staple goods• Impulse goods• Emergency goods
Specialty ProductsSpecialty Products
> Special purchase efforts> Unique characteristics> Brand identification> Few purchase locations
Unsought ProductsUnsought Products
> New innovations> Products consumers don’t want to think about> Require much advertising & personal selling
Classification of ProductClassification of Product
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The marketing instruments (mix)
2. Price
Types of prices cost price market price target price final price
Price adaptations skimming penetration market price leader price odd price bait price
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The marketing instruments (mix)
3. Distribution
Type of channelChannel leadershipMarket coveragePhysical distribution
Refer to box on page 326
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Direct
Indirect
Direct
Indirect
MM WW WW RR CC
MM WW RR CC
MM RR CC
MM CC
Channel 1
Channel 2
Channel 3
Channel 4
Channel Level - A Layer of Intermediaries that Perform Some Work in Bringing the Product and it’s Ownership Closer to the Buyer.
Consumer Marketing Channels & Levels
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to inform, persuade and remind advertising personal selling sales promotion publicity
The marketing instruments (mix)
4. Marketing communication
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AdvertisingAdvertising
Personal SellingPersonal Selling
Any Paid Form of Nonpersonal Presentation by an Identified Sponsor.
Any Paid Form of Nonpersonal Presentation by an Identified Sponsor.
Sales Promotion Short-term Incentives to Encourage Sales.
Public RelationsBuilding Good Relations with Various Publics by Obtaining Favorable Unpaid Publicity.
Direct MarketingDirect Communications With Individuals to Obtain an Immediate Response.
Personal Presentations by a Firm’s Sales Force.
The Marketing The Marketing Communications MixCommunications Mix
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Time
ProductDevelop-
ment
Introduction
Profits
Sales
Growth Maturity Decline
Losses/Investments ($)
Sales andProfits ($)
Sales and Profits Over the Product’s Life From Introduction to Decline
Product Life Cycle
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Marketing Planning and Control
Planning
o Strategic planningo Functional planning
Control
o Set objectiveso Measure performanceo Evaluate performanceo Take corrective action
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Public Relations
A deliberate, planned and sustained process of communication between a
business and its internal and external publics. Its purpose is obtaining, maintaining and/or improving good relations and
understanding.
Developed from:ManipulationInformationMutual influence
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What is Public Relations?
•Building good relations with the company’s various publics by obtaining favorable publicity, building up a good “corporate image” and handling or heading off unfavorable rumors, stories and events.
•Major functions are:– Press Relations
– Product Publicity
– Public Affairs
– Lobbying
– Investor Relations
–Development
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SpecialEvents
SpecialEvents
Written MaterialsWritten
Materials
Corporate Identity Materials
Corporate Identity Materials SpeechesSpeeches
NewsNews
AudiovisualMaterials
AudiovisualMaterials
Public Service
Activities
Public Service
Activities
Web SiteWeb Site
Major Public Relations Tools
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Public Relations Management
1. Planningo Scanning the environmento Setting objectives
2. OrganisingoOrganisational structureoOutside consultants
3. LeadingoEstablish corporate culture
4. Evaluation and control
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Publicity
• Methods of obtaining publicity:
Unique special events Unique communication messages News releases Sponsorships
• Social responsibility and business ethics
• Areas of social responsibility:
Consumers Suppliers Competitors Employees Owners and shareholders The community