Marketing Principles Review Session Jan 30 th, 2009.
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Transcript of Marketing Principles Review Session Jan 30 th, 2009.
Marketing Principles
Review Session
Jan 30th, 2009
Understanding Modern Marketing Management
•The Evolution of Marketing
•The Marketing Concept and related concepts
•Marketing as business philosophy and practice
•Marketing in the Twenty-first Century
•Relationship Marketing, Customer Satisfaction and Retention
•Marketing and Social Responsibility
Marketing Management
Marketing Eras:1900 – 1930: 1930 – 1960s: Selling Orientation, ‘Push Sales to
gain market share’1960 -1980s: ??????????????, ‘Find out what the
customers want, then develop products to satisfy them!’
1990s – Today: Societal Marketing orientation,
Czinkota calls it ‘Relationship Marketing’, P7
Customer Retention
What is it? – It’s about reducing customer defections, leaky bucket theory – replace disloyal customers.
Customer defection is getting easier and easier every year.
Retention Rate is the % of the total number of customers who have repeatedly placed an order over any 12 month period compared to the total number of customers in the same period.
Macro and Micro Environment for Marketing
•Elements of the marketing environment
•Macro and Micro environmental analysis
•Understanding Consumer Buyer Behaviour
•Understanding Industrial Buyer Behaviour
•Defining and analysing competitive forces
The Marketing Information System.
•The Internal Reports System
•The Marketing Intelligence System
•Market Research
Customer Research & the Research ProcessCustomer Research & the Research Process
Presentation of results
Data analysis and interpretation
Datacollection
Researchdesign
Problemdefinition
The market research process:
Feedback
Feedback
Copyright ©2005 by South-Western, a division of Thomson Learning. All rights reserved.
More details of this process on pg. 102 of book, Fig 4.1
Designing and Managing Marketing Programmes
•Introducing the Marketing Mix•The Traditional Marketing Mix and the Expanded Marketing Mix•Product Decisions•Integrated Marketing Communications•Physical Distribution and Marketing Channel Management (2 parts – physical + Mkt Prog)•Designing Pricing Programmes•Managing Direct and Online Marketing
4 Ps
The Marketing Mix
Product
• Development
• Management
• Features/benefits
• Branding
• Packaging
• After-sales service
Promotion
• Communication mix
• Advertising
• Sales promotion
• Sales
• Public relations
• Direct marketing
Price
• Costs
• Profitability
• Value for money
• Competitiveness
• Incentives
Place
• Access to market
• Channel structure
• Channel management
• Retailer image
• Logistics
Developing Marketing Strategies.
•Segmentation, Targeting and Market Positioning•Managing products over the lifecycle•Developing new products•Brand Management•The Marketing Plan
Segmentation Defined
Segmentation is the art of discerning and defining meaningful differences
between groups of customers to form the foundations of a
more focused marketing effort.
4 of 35
Mass MarketNiche MicroMarkets The individual
Segmentation Continuum
Managing the Marketing Effort.
•Marketing organisation
•Marketing implementation
•Controlling marketing activity
Marketing Organisation & Management
Analysing Marketing Opportunities
The Marketing EnvironmentMarket Research & Information Systems
Market Segmentation, Tragetting & Positioning
Marketing Mix DevelopmentProduct DecisionsPricing Decisions
Promotion DecisionsPlace Decisions
Marketing of Services
Marketing Management DecisionsSWOTing your company
Services Marketing
•Specific characteristics of Services
•The Servuction System Model
•The Five Gap Model of Service Quality
•Defection Management and Customer Retention Management
Servuction System Model
The production process of services has been called the “servuction” process (Eiglier and Langeard, 1977)
It refers to the simultaneous production and consumption of services.
The customer is present when the service is produced
The customer plays a role in the servuction and the delivery process
Customers interact with one another during the servuction process and may be affected (positively or negatively) by this interaction