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MARKETING MANAGEMENTRevision Session
WHAT IS MARKETING?
Marketing is not only much broader than selling, it is not a specialized activity at all Itencompasses the entire business. It is the wholebusiness seen from the point of view of the finalresult, that is, from the customer's point of view.Concern and responsibility for marketing musttherefore permeate all areas of the enterprise.
(Drucker)
MARKETING… …is a management process …is about giving customers what they want …identifies and anticipates customer
requirements …fulfils customer requirements profitably
(but not always!) …offers and exchanges ideas, goods and
services
BUSINESS ORIENTATIONS
What are the different business orientations?
Explain using examples...
5
Production Orientation
Product Orientation
Sales Orientation
Marketing Orientation
Societal Marketing Concept
•Consumers favour products that are available and highly affordable.•Improve production and distribution.
Consumers favour products that offer the most quality, performance, and innovative features.
•Consumers will buy products only if the company promotes/ sells these products.
Focuses on needs/ wants of target markets & delivering satisfaction better than competitors.
•Focuses on needs/ wants of target markets & delivering superior value.
MARKETING MANAGEMENT PHILOSOPHIES
PepsiCo
Public library
Political party
Private hospital
University
Non-profit youth group
Individual
Patient
Student
Reader
Voter
Volunteer
Cash
Slake thirst
Insurance premiums
Medical treatment
Fees
Education
Time
Sense of community service
Vote
Sense of economic/social progress
Taxes
A good read
IMPORTANCE OF RESEARCH
7
STAGE 4: RESEARCHING CUSTOMERS METHODOLOGIES
ResearchProcess
Secondary
Internal Sources
External Sources
Primary Range of Methods
8
8
PRIMARY RESEARCH METHODOLOGIES
Qualitative ObservationQuantitative
Info on AttitudesInfo on Attitudes
In-depth InterviewsIn-depth Interviews
Focus GroupsFocus Groups
Info on NumbersInfo on Numbers
QuestionnairesQuestionnaires
Categories:Categories:
Secretive (CCTV)Secretive (CCTV)
ParticipatoryParticipatory
Mystery ShoppersMystery Shoppers
STAGES OF BUYING DECISIONS
10
11
THE ORGANISATION’S MARKETING ENVIRONMENT
Theorganisation
The economy
Socialfactors
Culturalforces
Technology
Political structures
Legalstructures
Demography
Suppliers
Distributors & dealersThe
public
CompetitorsCustomers
MACRO
MICRO
INTERNAL
What tools can you use to analuyse these environments?
STP
Segmentation – dividing the market into distinctive groups
Targeting – selecting a segment to target
Positioning – developing a marketing strategy which positions the product in relation to rivals in order to appeal to target segments
SEGMENTATION
The segment must be: Relatively homogeneous group Distinctive and identifiable Accessible Actionable Measureable Sufficiently large to be profitable
Behavioural
Psychographic
Profile
Consumersegmentation
Purchase behaviour
Purchase behaviour
Benefits sought
Usage
Perceptions & beliefs
Lifestyle
Personality
Demographic
Geographic
Socio-economic
Segmenting consumer markets
Variable Examples
Behavioural
Benefits sought Convenience, status/image, performance
Purchase occasion Emergency purchase, gift purchase, regular purchase
Purchase behaviour Innovators, solus buyers (usually brand loyal), brand switchers
Usage Heavy / light / or non users of a product / service
Perceptions, beliefs Views of women towards beauty market
Psychographic
Lifestyle Trendsetters, conservatives, sophisticates
Personality Extrovert consumers vs. introverts
Profile
Age Under 12s, 12-18, 65+, teenagers, 30 somethings
Gender Female, male
Life cycle Young single, young couples, young parents, empty nesters, retired
Social class Upper / professional, middle, skilled working, unskilled, unemployed
Final education age 16, 18 or 21 years
Income Income breakdown according to segmentation objectives
Geographic North vs. south, urban vs. rural, region or country
Consumer segmentation methods
EXAMPLE QUESTIONS
“Customers are at the centre of everything the company does, with marketing acting as the mediating function between customers and other functions.” Critically examine this statement and support your answer with examples from your own working environment and also more generally.
SOLUTION
Introduction Definition of marketing Role of marketing management
Demonstrate how all parts / functions of the organisation are linked to and work together within this marketing orientation to understand, create, communicate and deliver customer value and satisfaction.
Application – use examples of companies to answer the questions.
EXAMPLE QUESTION
“Branding means more than just the labelling of products to distinguish one from another. Successful branding has other aspects that make it one of the most powerful tools of modern marketing.” Critically examine this statement, using examples to support your answer.
TYPICAL ANSWER Requires you to consider the role and value of
branding in today’s competitive markets.
Start by defining what a ‘brand’ is, considering the core and augmented product, then to discuss the importance of branding for organisations.
What about the value of brand positioning and brand equity, importance of brand names, and creation of brand awareness – using relevant examples to illustrate points.
Better answers will also evaluate in the context of global markets, again using relevant examples.
EXAMPLE QUESTION
You work as Head of Marketing Research for a manufacturer of laundry detergent who distributes its brand internationally. Critically examine how marketing research can help this company to make effective business decisions.
TYPICAL ANSWER The question requires you to answer within the specific
context of the laundry detergent market.
You would be expected to define what marketing research is and discuss the role / value of such activity for this organisation, in terms of helping the company make effective marketing decisions in highly competitive markets – considering issues such as: language, culture, consumption behaviour / patterns,
You should also refer to the need for relevant, accurate, reliable, valid and current information; the use of primary and secondary data; issues / complexities of conducting consumer and competitor research; etc.
USEFUL RESOURCES
http://www.marketingweek.co.uk/
http://www.cim.co.uk/home.aspx
http://www.marketingmagazine.co.uk/
http://www.economist.com/
http://www.asa.org.uk/
EXAM TECHNIQUE
Don’t be tired Natural to feel nervous
Get there early Come equipped Bring water
Read the question! Don’t forget to apply to example
organisations Plan your answer
Plan time in relation to mark allocation Write neatly Don’t get stuck...move on!
Good luck!