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Lecture Elements
Fundamental Concepts
Marketing Boundaries and inputs into Strategy
Marketing Trends
Case Analysis
Participation and Pre-work!
Awareness of the Marketing World –
Collaborate!!!
Feel free to disagree – we can debate issues!
Theory is not rigid and neither is the world!
Marketing – Basics, Importance
and Trends (Chapter 1 & 2)
Marketing Definition:
What its role
Functions involved
Process
What is Marketed? • Goods
• Services
• Events
• Experiences
• Persons
•Places
• Properties
• Organizations
• Information
• Ideas
Important Types of Demand
Hidden demand – exists but customer may not be aware of
it
Latent – exists, customer is aware but does not know it
can be fulfilled
Negative demand – dislikes the product and may pay to
avoid it
[non-existent (awareness may be the key!); declining
(need to find out why?); irregular (how can you exploit
seasonality, is it a fad?); full (can it increase or is it
mature?); overfull (are you creating demand for
competition?); unwholesome (legal/future implications???)
Figure 1.2
A Simple Marketing System
Key Markets [ARE THERE ANY OTHER WAYS WE CAN DEFINE
THEM?]
Consumer markets
Business markets
Global markets Nonprofit/Government markets
12 trends (compare this with p. 34) 1. Digital Primacy –propositions are anchored around mobile and online
experiences, See Gang of Girls, Unilever
2. Global Niching - Check Coca Cola in Asia, Superdry in Europe and
mobile hybrids like Zipcars.
3. Fractal Networks - instead of hundreds of Facebook friends, we step
back into more closed communities of real friends - Learn from Mumsnet to
Murcuelagos, and Nike too
4. Smart Screens – apps and networks, smartphones and tablets Look at
Amazon, Flipboard and Groupon
5. Participation Brands – brands reflect their communities not their
producers–Get involved at Current TV, or Starbucks or Threadless.
6. Social Voice – positive brands can become the voice of consumers,
Express yourself with Diesel and Patagonia, Google and maybe even
Baidu.
7. Subscription Models – from automobiles to cloud computing ownership is replaced by leasing, Buy things differently at Abel & Kane, Panties by Post, Spotify.
8. Urban Majority – the majority of the world’s population now live in cities, yet city-centre retailing and facilities are premium focused. The biggest opportunity is to create stores, entertainment venues, and leisure facilities for the less affluent urbanites. Rethink like Aldi/Traders Joe and Honda, Primark and Pepsi.
9. Alternative Money – from Facebook likes to Tweet-to-buy, from gaming credits to green tokens, cash is becoming less important, Try Drench, Greenpoints and Zynga's social games.
10. Fringe Fashion – nobody is average, and as we personalise our
homepages, we increasingly turn our back on mainstream brands and
fashions too. To express yourself, you want something more edgy,
unusual, different, quirky, from unknown designers or unusual places.
Who will be the next Camper, Desigual, or Ed Hardy?
11. FMRG – retail brands are more trusted and desirable than product
brands. Start shopping at Boots, Carrefour, and Target with Starck
12. Experiential Healthcare - as people live longer, drugs are more
accessible, and wellbeing becomes the craze, Go to WebMD, UrbanZen
or PatientsLikeMe
Product Orientation vs.
Market Orientation
Company Product Market
Missouri-Pacific
Railroad
We run a railroad We are a people-
and-goods mover
Xerox We make copying
equipment
We improve office
productivity
Standard Oil We sell gasoline We supply energy
Columbia Pictures We make movies We entertain
people
Types of
Corporate Social Initiatives
Corporate social marketing
Cause marketing
Cause-related marketing
Corporate philanthropy
Corporate community involvement
Socially responsible business practices
Creating Strategy Plans (Chap 2)
Characteristics of Core Competencies
A source of competitive advantage
Applications in a wide variety of markets
Difficult to imitate
Maximizing Core Competencies
(Re)define the business concept
(Re)shaping the business scope
(Re)positioning the company’s brand identity
Questions to Address in
Holistic Marketing What value opportunities are available?
How can we create new value offerings
efficiently?
How can we delivery the new offerings
efficiently?
Figure 2.3 The Business Unit
Strategic Planning Process
Copyright ©
2011 Pearson
Education,
Inc. Publishin
g as Prentice
Hall
2-19
Figure 2.2 The Strategic Planning
Gap
Copyright © 2011 Pearson Education,
Inc. Publishing as Prentice Hall
2-20
Market Opportunity Analysis
(MOA)
Can the benefits involved in the opportunity be articulated
convincingly to a defined target market?
Can the target market be located and reached with cost-
effective media and trade channels?
Does the company possess or have access to the critical
capabilities and resources needed to deliver the customer
benefits?
Market Opportunity Analysis
(MOA) Can the company deliver the benefits better than any actual
or potential competitors?
Will the financial rate of return meet or exceed the company’s
required threshold for investment?
Goal Formulation and MBO Unit’s objectives must be hierarchical
Objectives should be quantitative
Goals should be realistic
Objectives must be consistent
Categories of Marketing Alliances Product or service alliance
Promotional alliance
Logistics alliances
Pricing collaborations
Marketing Plan Contents Executive summary
Table of contents
Situation analysis
Marketing strategy
Financial projections
Implementation controls