Marketing Management

Changing Role of Marketing within Firm

Focus on lower cost & physical efficiency

Marketing shift from physical efficiency to selling

Adoption of marketing approach

Marketing and Four Functions of Management

Planning Function Organizing Function Controlling Function Directing Function

4 Ps of Marketing

4 Ps of marketing Product Price Place Promotion

Marketing Mix

Marketing Mix: Combination of 4 controllable variables

Product Price Place Promotion

The Business Plan

Consumer Needs

Firm’s Purpose

Marketing Plan

Values

Firm’s Purpose

What firm is going to do

Firm’s Objective

How to accomplish its purpose

Marketing Plan

Analyzing current market situation opportunities and issues implementation finance control

Marketing Plan

I. Current Market Situation

~Market Situation

~Competitive Situation

~Macroeconomic Environment

II. Opportunities and Issues Analysis

~Opportunities & Threats outside firm

~Strengths & Weaknesses within firm

~Issues Analysis

~Financial & Marketing Objectives

Marketing Plan

Marketing Plan

III. Marketing Strategy

~ID Target Market ~Sales Promotion

~Product Positioning ~Res. & Develop

~Product Line ~Market Research

~Price ~Distribution

~Sales Force ~Level of Service

~Advertising—when and where

Benefits of A Good Marketing Plan

Firms achieve higher rates of return on invested capital when they have

--A clear business purpose

--A clear business objective

that is reflected in a well-thought-out marketing plan with

an effective marketing mix

Benefits of A Good Marketing Plan

Analyzing Market Potential

Transition mass to target marketing Estimating market potential

Macroeconomic approach Population approach Consumption approach