Embed Size (px)
Transcript of Week1 Intro
Sree BegTutor in MarketingModule LeaderMarketingLecture 1: Introduction
Plan for this sessionIntroduction to the module Whos teaching youOutline SeminarsReading ListAssignment SurreyLearn
Introduction to Marketing & Understanding the Environment
Whos teaching you ...Sree Beg: Module Leader, Digital Marketing & Marketing Strategy email@example.com, room 11MS03
Monica Hope: International Retailing, Relationship Marketing firstname.lastname@example.orgDr. Jing Wong (tbc)
Principles & Practice of Marketing (Jobber 6e)
Core text for Marketing MANM017
With FREE supporting Online Learning Centre
Lecturer: Sree Beg
You can then access the Student Content
SeminarsNo seminar this weekSeminars in Alternate weeks (weeks 2, 4, 6, 10)Use extra weeks to catch up on reading and assignmentDo any prior preparation
Your seminar group is on your timetable
AssessmentAssessment for the module (30%) Assignment Group report, Mon 12 Nov 2012Group / team registration via Surreylearn.Assignment submission and feedback via Surreylearn within 3 weeks (excluding bank holidays and university closure days)Mark contribution sheet
Examination (70%) Revision2 out of 5 essay questions
SureylearnAll your module information can be found hereDownload lecture notes before the lecture/or seminar materialPost any questions using the discussion forumParticularly assignment or exam queries !!!!!!Check regularly announcementsMain method of communication to you !Submit your group assignment via SurreylearnRegister your group membersSubmit assignment online
ExpectationsIndependent LearnersReferencing (Harvard style of referencing)Critical thinkers
Knowledge & UnderstandingApplication & Analysis
What is Feedback ? Not Just assignment Feedback ..
Answering Questions in Seminars and on Surrey learn Instant feedback on progress with MCQ tests One to one discussions on progress
Assignment Feedback Group Feedback Sheet - each section has mark - general strengths/weaknesses
Generic marking criteria
What is Marketing ?
Marketing Production Concept
Quick exerciseTurn to the person next to you and introduce yourselfDiscuss all the Positive and Negative aspects of Marketing ..
Environmental AnalysisWhere we are ?Internal, External analysisPESTLE, Porters 5 forces, market trends, forecasts, competitors, customers SWOTStrategy DevelopmentWhere do we want to be and how do we get there ?Marketing Objectives Marketing Strategy STPMarketing Mix (4ps, 7ps)Product, Price, Place, PromotionPeople, Processes & Physical EvidenceImplementationHow do we implement the strategy ?Marketing schedules/Action PlansControl & EvaluationAre we on track ?Budget and Monitoring
Everything in an organisations environment that impacts on the way it operates (direct/indirect)
Broken into key areasExternal environmentInternal environment
In response to all factors the organisation has to adapt its marketing.
What is the Marketing Environment
Why conduct an external analysis?Identify key possible opportunities and threatsRespond to dynamic external factorsLevitt, T. (1960), Marketing Myopia, Harvard Business Review, July August, 45-46
External EnvironmentKotler, Armstrong, Saunders & Wong, (2008)PESTLEIf this is new Read Chp 2
SWOT AnalysisConversionConversionMatchingInternal to the organisationExternal existing independently of the organisation*
StrengthsStrong Brand nameA new, innovative product or service. Location of your business. Quality processes and procedures.Loyal Customer base WeaknessesLack of Brand awarenessLocation of your business. Poor quality goods or services. Damaged reputation.
OpportunitiesA developing market such as the Internet. Mergers or joint ventures Moving into new market segments A new international market. ThreatsA new competitor in your home market. Price wars with competitors. A competitor has a new, innovative product or service. Competitors have superior access to channels of distribution.
Drivers of Consumer ChangeChanging demographicsCash rich/time poor segments24 hr societySearch for greater valueEthical consumerismHealth and healthy lifestylesCIM, The MarketingPlanning Process, 2009
Drivers of organisational changeGlobalisationDisintermediationMass CustomistionMedia FragmentationEnvironmental concerns (shortage raw materials, energy costs, pollution etc)So what ???Marketers need to develop new strategies to copewith new circumstances
Marketing Mix4 PsJerome McCarthy, 1960Product focus7 PsBooms & Bitner, 1981Service focus
Marketing Mix ParadigmIn marketing, a paradigm is a framework or a foundation for a certain kind of marketing thinking
Is the Marketing Mix paradigm still relevant ?
Where is Marketing Today ?The Marketing ConceptSustainability - CSRThe BrandNew Markets BRICRelationshipsTechnology
SummaryWhat is Marketing about ?What are the positive and negative aspects of Marketing ?Discuss the Marketing Mix and criticisms.What are the recent developments in Marketing ?
To do ....Go to Surreylearn, familiarise yourself with the layoutDownload the Teaching PlanRead Chapter 1, 2 and 3.Next week: STP Chapter 8, 19 and 20
Get other books you feel are appropriateDont forget Seminars are next week ! Make sure you know your seminar group
Start thinking of getting into groups (4-5).
References Levitt, T. (1960), Marketing Myopia, Harvard Business Review, July August, 45-46
Kotler, K., Armstrong G.,Saunders, J. and Wong, V.,(1996), Principles of Marketing: the European Edition, Prentice Hall, New Jersey
Solomon, Marshall, Stuart, Barnes & Mitchell (2009), Marketing:Real People, Real Decisions, 1st European Edition, Prentice Hall
*Full reading list in Module Descriptor Found on Ulearn Copies available from the library & bookshop Use a range of sources
Many definitionsMarketing is the management process responsible for identifying anticipating and satisfying customer requirements profitably (2001) Marketing consists of individual and organisational activities that facilitate and expedite satisfying exchange relationships in a dynamic environment through the creation, distribution, promotion and pricing of goods, services and ideas Dibb, Simkin, et.al
*Many different types of plans, Strategic, functional, operational.Strategic:A plan that describes how a firm will adapt to take advantage of opportunities in its constantly changing environment, Thereby maintaining a strategic fit between the firms goals and capabilities and its changing market opportunitiesContribute to the creation of a competitive strategyOperational: Day to Day planningFunctional: What different depts in an organisation might be responsible for.***Everything in an organisations environment that impacts on the way it operatesSome factors have a direct impactSome factors can have an indirect impactSome factors have an impact and the organisation cannot control themAnd some factors will have an impact but the organisation may have some influence over them
Marketing Myopia famous celebrated article in marketing, central thesis of article true to day as in the 1960s, is that companies must monitor change in the external environment and keep abreast of their customer needs or they risk decline.**Marketing PlanningCambridge Professional Academywww.profacademy.com33Internal Micro directly affecting organisationMacro Indirectly affecting organsiation
Political: Taxation,Foreign trade regs.,Employment law, Government stabilityEconomic: Business cycles, GNP trends, Money supply, Inflation, UnemploymentSocial-Cultural:Demographics,Income distribution, Lifestyle changes, Consumerism, Levels of educationTechnological: New discoveries, Rates of obsolescence, Speed of tech. transferEnvironmental: Social pressure, Legal influencesLegal: Legislation
**Shows where business should focus attentionCan be subjective, use with cautionConcentrate on critical success factorsKeep SWOT short and simpleA word of caution, SWOT analysis can be very subjective. Do not rely on SWOT too much. Two people rarely come-up with the same final version of SWOT. TOWS analysis is extremely similar. It simply looks at the negative factors first in order to turn them into positive factors. So use SWOT as guide and not a prescription.Simple rules for successful SWOT analysis.Be realistic about the strengths and weaknesses of your organization when conducting SWOT analysis. SWOT analysis should distinguish between where your organization is today, and where it could be in the future. SWOT should always be specific. Avoid grey areas. Always apply SWOT in relation to your competition i.e. better than or worse than your competition. Keep your SWOT short and simple. Avoid complexity and over analysis SWOT is subjective.
**General SWOT analysis types of info included.First do Strengths & weaknesses and then opp and threatsThe term marketing mix refers to a unique blend of product, price, place and promotion strategies, designed to produce mutually satisfying exchanges with a target market. The marketing manager can control each component of the marketing mix, b