MM 1 Overview of Marketing 38
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Transcript of MM 1 Overview of Marketing 38
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OVERVIEW OF MARKETING
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THE MARKETING CONCEPT
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THE CONCEPT
KNOWLEDGE BUYERS SATISFACTIONOF NEEDS DEFINITION
O P E R A T I O N S
OPERATING
RESULTS
COMPANY
GOALS
KNOWLEDGE OF
DESIRED RESULTS
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WHAT MARKETING DOES
Is there a market? What size?
What growth?
Who is the Buyer? What does he look for?
Why does he buy?
Where is he?
PROFIT & NON PROFIT
GOODS & SERVICES
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DEFINITION
COMPONENTS
Needs Product or Service
Management
Consumption
Satisfaction
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PRODUCT MARKET RELATIONSHIP
CONTROLLABLES
THE MIX
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OWNERSHIP TRANSFER
INTERNAL FACTORS
EXTERNAL FACTORS
UNCONTROLLABLES
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MINIMAL INPUTS
PRODUCT ORIENTATION
COMMUNICATON PROBLEMS
CONFLICTING INTERNAL GOALS
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EXTERNAL INPUTS
ORIENTATION TO THE MARKET POPULATION GROWTH
MORE HOUSEHOLDS
MORE DISPOSABLE INCOME
MORE DISCRETIONARY INCOME
GROWING MIDDLE CLASS DEBT
TECHNOLOGY
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CUSTOMER ORIENTATION
NONRESPONSIVE
REACTIVE
RESPONSIVE
PROACTIVE
ANTICIPATORY
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PLANNING THE CONCEPT
COMPANY
GOALS
MARKET
NEEDSRESEARCH
DECISION
OPERATING PLAN
PRODUCTION MARKETING FINANCIAL
IMPLEMENTATION
ATTAINMENT FULFILLMENT
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IMPLEMENTATION
UNIFICATION OF OPERATIONS
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THE MARKETING PROCESS
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IDENTIFCATION OF MARKETING ACTIVITIES
DIFFICULTIES:Forward flow of goods
Reverse of information
Putting products in the market
Selling
Buying: the other side of sellingDesigning the product
Storage of finished goods
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MERCHANDISING ACTIVITIES
Product planning & development
Standardizing and grading
Buying and assembling
Selling
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DISTRIBUTION ACTIVITIES
Storage
Transportation
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SUPPORTING ACTIVITIES
Marketing financing Marketing risk bearing
Collecting and analyzing marketing
information
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MERCHANDISING: PRODUCT PLANNING
Conform to needs wants and desires Change in technology
Shift in buyer preferences
Inputs from middlemen
Change in range handled
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MERCHANDISING
STANDARDIZING AND GRADING
Standard: measurement of consistency
Grading: establishing specifications
BENEFITS
Improves efficiency
Execution of order without inspection
Variable price as per measurable grade
Standards to be industry wide
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MERCHANDISING: BUYING & SELLING
BUYING:
Raw MaterialFinished Goods
ASSEMBLING:
WarehousingRetailing
ADVANCE PLANNING
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MERCHANDISING: SELLING
Personal SellingAdvertising
POP Display
Packaging
Customer Service
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DISTRIBUTION: STORAGE
Availability to customers
Even out the seasonal factor
Economy of business operationsMaturity on ageing
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DISTRIBUTION: TRANSPORTATION
Markets
Raw Material
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SUPPORTING ACTIVITY:
MARKETING FINANCE
Source and recipient of credit
Trade credit vs. Banks
Instalment creditMercantile credit
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SUPPORTING ACTIVITY:
MARKETING RISK BEARING
Inventory riskRisk transfer
Natural hazards
Risk reductionProduct differentiation
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SUPPORTING ACTIVITY:
MARKETING INFORMATION
Information vs. News
No information is universal
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MARKETING & SOCIETY
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DOES MARKETING COST TOO MUCH?
THE FOUR UTILITIES
PLACE
TIME POSSESSION
FORMMarketing vs. Total costs
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THE COST OF CAPITALISM
HIGH MARKETINGCOSTS
CHOICE OF MORE
BRANDS
NON PRICECOMPETITION
MARKET
OLIGOPOLY
REDUCING
MARKETING COSTS
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BUYER BEHAVIOR
Social value of persuasion
More discretionary income available Low income group purchases
Increase in consumption may not
improve living standards
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THE ENVIRONMENT
Packaging
Disposable products
Outdoor advertising Etc
Other examples
Population Municipal sewage
Noise
Etc
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PUBLIC OPINION
CONSUMERISM MOVEMENT
Upton Sinclair: The Jungle
100,000,000 Guinea PigsYour moneys worth
Ralph NaderMovement getting strongerevery decade
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POLITICAL PRESSURE
LOCAL
STATE
CENTRAL
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LEGISLATIVE ACTION
Central Laws State Laws
Case Laws
Controlling bodies- Pollution
- Manufacturing
- Pricing- Marketforces
- Product design / quality
- Advertising
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COMPETITIVE ACTION
Expansion
Relations with competition
Tactics against competition
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PRODUCTS
Additions
Design
Quality
Packaging & labeling
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PRICING
Discrimination
Minimum prices
Unfair trade practices
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DISTRIBUTION
Exclusive dealers
Tying contract
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PROMOTION
False advertising
Corrective advertising
Bait advertising Deceptive price advertising
Advertising to children Promotional allowance & services