MarketingMarketing deals with identifying and meeting deals with identifying and meeting human and social needs profitably.human and social needs profitably.
MarketingMarketing is an organizational function and a is an organizational function and a set of process for creating communication set of process for creating communication and delivering values to customer sand for and delivering values to customer sand for managing customer relationships in a way managing customer relationships in a way that benefits the organization and stake that benefits the organization and stake holders. ( holders. ( American Marketing Association)American Marketing Association)
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Marketing ManagementMarketing Management
An art and science of choosing target An art and science of choosing target markets and getting, keeping, and markets and getting, keeping, and growing customers through creating, growing customers through creating, delivering, and communicating delivering, and communicating superior customer values. superior customer values.
ReviewReview
Source: Kotler & Keller, Marketing Management 12e
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Key Concepts of MarketingKey Concepts of Marketing
Markets and market segmentationMarkets and market segmentation Product VS ServicesProduct VS Services Product CategoriesProduct Categories Products Portfolio Products Portfolio ConsumersConsumers CompetitionCompetition Brand / Brand EquityBrand / Brand Equity Marketing MixMarketing Mix Marketing StrategiesMarketing Strategies
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Marketing MixMarketing Mix
PProductroduct CConsumer Valuesonsumer Values PPricerice CCosts to consumersosts to consumers PPlacelace CConvenience to onvenience to
Hardware: production facilitiesHardware: production facilities Software: R&D, know-how, proprietarySoftware: R&D, know-how, proprietary People: Number of employee, competency, HR People: Number of employee, competency, HR
management. management. Financial: Policy, sources of fund, credits, Financial: Policy, sources of fund, credits,
Market environment.Market environment. Market potentialMarket potential Consumers ( who consumes end-product)Consumers ( who consumes end-product) Market’s distribution system.Market’s distribution system. CompetitionCompetition Related government’s rules and regulations.Related government’s rules and regulations. Relevant economic factorsRelevant economic factors International factorsInternational factors
The WebThe Web Data explosionData explosion Increased emphasis of brandsIncreased emphasis of brands Changes in the balance of market Changes in the balance of market powerpower
Increased importance of customer Increased importance of customer retention programsretention programs
Increased global competitionIncreased global competition
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Chapter 2Chapter 2
MarketingMarketing
PlaningPlaning
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Marketing PlanMarketing Plan
A marketing plan is a A marketing plan is a writtenwritten document containing the guidelines document containing the guidelines for the for the business center’sbusiness center’s marketing marketing programs and allocations over the programs and allocations over the
planning periodplanning period. .
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Objectives of a Marketing PlanObjectives of a Marketing Plan
1.1. Define the current business situation.Define the current business situation.2.2. Define problems and opportunities facing Define problems and opportunities facing
the business.the business.3.3. Establish objectives.Establish objectives.4.4. Define the strategies and programs Define the strategies and programs
necessary to achieve the objectives.necessary to achieve the objectives.5.5. Pinpoint responsibility for achieving Pinpoint responsibility for achieving
product objectives.product objectives.6.6. Encourage careful and disciplined thinking. Encourage careful and disciplined thinking. 7.7. Establish a customer/competitor Establish a customer/competitor
orientation.orientation.
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Frequent Frequent MistakesMistakes in the Planning in the Planning ProcessProcess
The speed of the ProcessThe speed of the Process The Amount of Data CollectedThe Amount of Data Collected Who does the Planning?Who does the Planning? The StructureThe Structure Length of the PlanLength of the Plan Number of Courses of Action ConsideredNumber of Courses of Action Considered Who Sees the PlanWho Sees the Plan Not Using the Plan as a Sales DocumentNot Using the Plan as a Sales Document Insufficient Senior Management LeadershipInsufficient Senior Management Leadership Not Tying Compensation to Successful Not Tying Compensation to Successful
Planning EffortsPlanning Efforts Frequency of PlanningFrequency of Planning
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Marketing Planning SequenceMarketing Planning SequenceUpdate historical data
