Managing Marketing Processes_Seminar 1

transcript

Seminar 1

Managing Marketing Processes---Introduction – Understanding Marketing Management

Robin Teigland Master of General ManagementStockholm School of Economics

September 4, 2013

Who am I? (LinkedIn Inmaps)

Industry

Research

Wharton

Stanford

McKinsey

SSE MBA

Seminar 1 Overview

Intended Learning Outcomes

Course Description Multi-method

Lectures, Presentations, Cases, and External Guests Individual Assignments (55%)

Readings and questions for external guests for each class (P/F) Individual participation (10%) Final Exam (45%)

Group Assignments (45%) Seminar Hand-ins and Cases (P/F) Marketing Plan Presentations and Report (40%) Live Case Integration Module (5%)

Active learning and shared responsibility Open dialogue and discussion in and outside of class Information sharing and appropriate use of internet

inside/outside class Google docs, slideshare, twitter, etc. www.plagiarism.org

Active groupwork – pull your weight5

Marketing Plan Group Assignment Assume role of “marketing manager” and select

existing Swedish company within specified industry Develop marketing plan for product/service not

currently offered by your company to be launched on Swedish market Completely new-to-the-world or new to your company

Must be able to access financial data for company in order to integrate with “Using Accounting Reports”

Write comprehensive marketing plan profiling competitive strategy to bring that product/service to Swedish market

?Marketing Plan Teams

Exercise

8 volunteers are needed

What is a marketing course about?

The Strategy Hierarchy

Where should we compete?

How should we compete?

What is Marketing?

Marketing is an organizational function and a set of processes for creating,

communicating, and delivering value to customers and for managing

customer relationships in ways that benefit the organization and its

stakeholders.

What is Marketing Management?

Marketing management is theart and science

of choosing target markets and getting, keeping, and growing

customers throughcreating, delivering, and communicating

superior customer value.

Selling is only the tip of the iceberg

There will always be need for some selling.

But the aim of marketing is to make selling

superfluous. The aim of marketing is to know and

understand the customer so well that the product

or service fits him and sells itself. Ideally,

marketing should result in a customer who is ready

to buy. All that should be needed is to make the

product or service available.Peter Drucker

What is marketed?

What is Marketed?

• Goods• Services• Events• Experiences• Persons

• Places• Properties• Organizations• Information• Ideas

Key Customer Markets

Consumer markets Business markets Global markets Nonprofit/Government markets

Figure 1.1 A Simple Marketing System

Company Orientations

Production

Product

Selling

Marketing

Marketing is about engagement

https://www.youtube.com/watch?v=qngURElbkP4

Holistic Marketing

Relationship Marketing

Customers

Employees

Marketing Partners

Financial Community

Internal Marketing

Internal marketing is the task of hiring, training, and motivating able

employees who want to serve customers well.

Performance Marketing

Financial Accountability

Social Responsibility

Marketing

Types of Corporate Social Initiatives

Corporate social marketing Cause marketing Cause-related marketing Corporate philanthropy Corporate community involvement Socially responsible business practices

The Marketing Mix

The New Four Ps

Processes

People

Programs

Performance

Core Marketing Concepts

Needs, wants, and demands

Target markets, positioning, segmentation

Offerings and brands

Value and satisfaction

Marketing channels

Supply chain Competition Marketing

environment Marketing planning

Types of Needs

Stated

Unstated

Delight

Secret

Target Markets, Positioning & Segmentation

Offerings and Brands

Value and Satisfaction

Marketing Channels

Communication

Distribution

Service

Marketing Environment

Demographic

Economic

Socio-cultural

Environmental

Technological

Political-legal

Major Societal Forces

Network information technology

Globalization Deregulation Privatization Heightened competition

Industry convergence Retail transformation Disintermediation Consumer buying

power Consumer participation Consumer resistance

Figure 1.1 A Simple Marketing System

Today’s Assignment

What is Marketing Management? (1-2 slides)

Based on the course readings, your previous experience, and potentially other sources, develop your own definition of marketing management.

What are the relationships between marketing management and the concepts of vision, mission, strategy, and business model?

Today’s Assignment

What is the Marketing Manager’s role? (1-2 slides)

Based on the course readings, your previous experience, and potentially other sources, develop your own understanding of the role of the Marketing Manager.

What core skills does the Marketing Manager need and how do these differ from those of the CEO and other managers in an organization?

Core concepts in strategy Mission

Purpose: Why we exist Vision

What we want to be Values

What we believe in and how we behave Strategy

Single precise competitive game plan that will drive the business over the next five years or so

Objective (ends), scope (domain), and advantage (means) that require trade-offs

38Collis & Rukstad, 2008

Making choices

Strategy is about choosing what NOT to do: Which customers not to serve What products or services not to offer Which activities not to perform

Strategy is about NOT being all things to all people

Porter

Strategy ≠ Business Model

Business model (Magretta, 2002) Describes, as a system, how the pieces of a

business fit together. Does not factor in one critical dimension of

performance: competition Reflection of a realized strategy

Every organization has a business model . [it] makes some choices, which have consequences. [But] not every organization has a strategy - a

plan of action for different contingencies that may arise. (Casadesus et al. 2010)

The Strategy Hierarchy

Where should we compete?

How should we compete?

What are the tasks of a Marketing Manager?

Marketing Management Tasks

Develop market strategies and plans Capture marketing insights Connect with customers Build strong brands Shape market offerings Deliver value Communicate value Create long-term growth

What is missing?

Roleplay You have just been recruited as the new

marketing manager for Stockholm School of Economics.

You would like to request a 15% increase in the marketing budget and the President has asked you to justify this request.

Prepare 3 slides explaining the role of marketing within your organization and discuss how and why a 15% increase in the marketing budget would benefit the organization.

For Review

Why is marketing important? What is the scope of marketing? What are some fundamental marketing

concepts? How does marketing fit into the overall

organization? What are the tasks necessary for

successful marketing management?