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marketing management slides, best works augmented with philip kotler for marketing management
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04/19/23 02:02 Ftw. Abid Shaikh,
CMS, JMI, New Delhi
1
Marketing ManagementMBA CP-205
04/19/23 02:02 Ftw. Abid Shaikh,
CMS, JMI, New Delhi
2
Understanding Marketing Management
04/19/23 02:02 Ftw. Abid Shaikh,
CMS, JMI, New Delhi
3
Learning Objectives:
• Know why marketing is important.• Know what is the scope of marketing.• Know some fundamental marketing concepts.• Know how marketing management has changed.• Know what the necessary tasks are for successful
marketing management.
Understanding Marketing Management
04/19/23 02:02 Ftw. Abid Shaikh,
CMS, JMI, New Delhi
4
Scope of Marketing
• 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.”
Understanding Marketing Management
04/19/23 02:02 Ftw. Abid Shaikh,
CMS, JMI, New Delhi
5
• What is Marketing?
“Marketing management is theart and science
of choosing target markets and getting, keeping, and growing
customers throughcreating, delivering, and communicating
superior customer value.”
Understanding Marketing Management
04/19/23 02:02 Ftw. Abid Shaikh,
CMS, JMI, New Delhi
6
• What is Marketing?
“Marketing is a societal process by which individuals and groups obtain
what they need and want through creating, offering, and freely exchanging
products and services of value with others.”
Understanding Marketing Management
04/19/23 02:02 Ftw. Abid Shaikh,
CMS, JMI, New Delhi
7
Selling is only the tip of the
iceberg…..
Understanding Marketing Management
“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
04/19/23 02:02 Ftw. Abid Shaikh,
CMS, JMI, New Delhi
8
Designing the right
product…….
Understanding Marketing Management
04/19/23 02:02 Ftw. Abid Shaikh,
CMS, JMI, New Delhi
9
Only the best is good enough for Lexus customers
…….
Understanding Marketing Management
04/19/23 02:02 Ftw. Abid Shaikh,
CMS, JMI, New Delhi
10
For an exchanges to occur….
• There are at least two parties.• Each party has something that might be of value to
the other party.• Each party is capable of communication and delivery.• Each party is free to accept or reject the exchange
offer.• Each party believes it is appropriate or desirable to
deal with the other party.
Understanding Marketing Management
04/19/23 02:02 Ftw. Abid Shaikh,
CMS, JMI, New Delhi
11
Transaction on the other hand occurs when….
• There is a trade of values between two or more
parties.
• There are at least two things of value.
• There are agreed upon conditions.
• There is a time of agreement.
• There is a place of agreement.
Understanding Marketing Management
04/19/23 02:02 Ftw. Abid Shaikh,
CMS, JMI, New Delhi
12
Are both forms of
exchange?
Understanding Marketing Management
Transactions Transfers
04/19/23 02:02 Ftw. Abid Shaikh,
CMS, JMI, New Delhi
13
What is
marketed?
Understanding Marketing Management
GoodsGoods
Experiences
Experiences
PersonsPersons
Ideas
EventsEvents
ServicesServices
PlacesPlaces
PropertiesProperties
Organizations
Organizations
InformationInformation
04/19/23 02:02 Ftw. Abid Shaikh,
CMS, JMI, New Delhi
14
Demand
States……
Understanding Marketing Management
Nonexistent Latent
Declining Irregular
Full UnwholesomeOverfull
Negative
04/19/23 02:02 Ftw. Abid Shaikh,
CMS, JMI, New Delhi
15
Structure of Flows in a Modern Exchange
Economy
Understanding Marketing Management
04/19/23 02:02 Ftw. Abid Shaikh,
CMS, JMI, New Delhi
16
Industry( A collection of sellers )
Market( A collection of buyers )
Communication
Goods/Services
Money
Information
A Simple Marketing System
Understanding Marketing Management
04/19/23 02:02 Ftw. Abid Shaikh,
CMS, JMI, New Delhi
17
Key Customer
markets….
Understanding Marketing Management
ConsumerMarkets
GlobalMarkets
Nonprofit andGovernmental
Markets
BusinessMarkets
04/19/23 02:02 Ftw. Abid Shaikh,
CMS, JMI, New Delhi
18
Market place is not what it used to
be….
Understanding Marketing Management
Deregulation
Deregulation
Disintermediation
Globalization
Globalization
Changing technologyChanging
technology
PrivatizationPrivatization
Customer Empowerment
Customer Empowerment
CustomizationCustomization
ConvergenceConvergence
04/19/23 02:02 Ftw. Abid Shaikh,
CMS, JMI, New Delhi
19
Company Orientations towards the Market Place
Understanding Marketing Management
Production concept
Selling conceptHolistic marketing
concept
Product concept
04/19/23 02:02 Ftw. Abid Shaikh,
CMS, JMI, New Delhi
20
Production concept
“The production concept holds that consumers
will prefer products that are widely available
and inexpensive.”
Understanding Marketing Management
04/19/23 02:02 Ftw. Abid Shaikh,
CMS, JMI, New Delhi
21
Product concept
“The product concept holds that consumers will favor
those products that offer
the most quality, performance, or
innovative features.”
Understanding Marketing Management
04/19/23 02:02 Ftw. Abid Shaikh,
CMS, JMI, New Delhi
22
Selling concept
The selling concept holds that consumers and businesses,
will ordinarily not buy enough of the organization’s products,
therefore, the organization must undertake aggressive selling and promotion effort.”
Understanding Marketing Management
04/19/23 02:02 Ftw. Abid Shaikh,
CMS, JMI, New Delhi
23
Marketing concept
“The marketing concept holds that the key to achieving organizational goals
consists of the company being more effective than competitors in
creating, delivering, and communicating superior customer value to its chosen target markets.”
Understanding Marketing Management
04/19/23 02:02 Ftw. Abid Shaikh,
CMS, JMI, New Delhi
24
Factory Products Selling and Profits through promoting sales volume
Target Customer Integrated Profits through market Needs marketing customer
satisfaction
The Selling concept
The Marketing concept
Starting point Focus Means Ends
Determinants of customer delivered value
Understanding Marketing Management
04/19/23 02:02 Ftw. Abid Shaikh,
CMS, JMI, New Delhi
25
Holistic Marketing concept
“Holistic marketing can be seen as the development, design, and implementation of
marketing programs, processes, and activities that recognizes the breath and
interdependencies of their efforts. Holistic marketing recognizes that
‘everything matters’ with marketing—the consumer, employees, other companies, competition,
as well as society as a whole.”
Understanding Marketing Management
04/19/23 02:02 Ftw. Abid Shaikh,
CMS, JMI, New Delhi
26
Marketing Department
Holistic Marketing dimensions
Understanding Marketing Management
Senior Management
Other Departments
Communications
Products andServices
Channels
Ethics
Environment
Legal
CommunityCustomers
Suppliers
Channel Partners
HolisticMarketing
InternalMarketing
SociallyResponsibleMarketing
IntegratedMarketing
RelationshipMarketing
Employees
04/19/23 02:02 Ftw. Abid Shaikh,
CMS, JMI, New Delhi
27
The Four P Components of the Marketing Mix
Marketing Mix
Product
Product varietyQualityDesignFeaturesBrand namePackagingSizesServicesWarrantiesReturns
Price
List PriceDiscountsAllowancesPayment periodCredit terms
Promotion
Sales promotionAdvertisingSales forcePublic relationsDirect marketing
Place
ChannelsCoverageAssortmentsLocationsInventorytransport
Target Market
Understanding Marketing Management
04/19/23 02:02 Ftw. Abid Shaikh,
CMS, JMI, New Delhi
28
CompanyProductServicesprices
Offering mix
Direct mailtelemarketingand internet
Publicrelations
Sales force
Advertising
SalesPromotion
Distribution Channels
Targetcustomers
Communications mix
Marketing Mix Strategy
Understanding Marketing Management
04/19/23 02:03 Ftw. Abid Shaikh,
CMS, JMI, New Delhi
29
Understanding Marketing Management
Marketing Mix and the customer
Four Ps• Product• Price• Place• Promotion
Four Cs
• Customer solution
• Customer cost
• Convenience
• Communication
04/19/23 02:03 Ftw. Abid Shaikh,
CMS, JMI, New Delhi
30
TopManage
ment
Middle management
Front line people
Customers
Traditional Organizational chart
Understanding Marketing Management
04/19/23 02:03 Ftw. Abid Shaikh,
CMS, JMI, New Delhi
31
Customers
Front line people
Middle management
TopManage
ment
CU
ST
OM
ER
S
CU
ST
OM
ER
S
Modern customer oriented Organizational chart
Understanding Marketing Management
04/19/23 02:03 Ftw. Abid Shaikh,
CMS, JMI, New Delhi
32
Key Marketing Concepts and Tools
• Needs, wants, and demands.• Target markets, positioning, segmentation.• Offerings and brands. • Value and satisfaction. • Marketing Channels.• Supply Chain.• Competition.• Levels of Competition.• Marketing planning.• Marketing Environment.• Task Environment and Broad Environment.
Understanding Marketing Management
04/19/23 02:03 Ftw. Abid Shaikh,
CMS, JMI, New Delhi
33
• The broad environment consists of:
1. Demographic environment
2. Economic environment
3. Natural environment
4. Technological environment
5. Politico-legal environment
6. Social environment
Understanding Marketing Management
04/19/23 02:03 Ftw. Abid Shaikh,
CMS, JMI, New Delhi
34
Marketing Planning Process
• The Marketing Planning Process consists of:
1. Analyzing marketing opportunities.
2. Selecting Target Markets.
3. Designing marketing strategies.
4. Developing marketing programmes.
5. Managing the marketing effort.
Understanding Marketing Management
04/19/23 02:03 Ftw. Abid Shaikh,
CMS, JMI, New Delhi
35
Factors influencing Company Marketing Strategy
Understanding Marketing Management
04/19/23 02:03 Ftw. Abid Shaikh,
CMS, JMI, New Delhi
36
Marketing Management Tasks
• The core concepts provide the input for a set of tasks that make up successful marketing management. The tasks include:
Developing marketing strategies and plans. Capturing marketing insights. Connecting with customers. Building strong brands. Shaping the market offerings. Delivering the value. Communicating value. Creating long term growth.
Understanding Marketing Management
04/19/23 02:03 Ftw. Abid Shaikh,
CMS, JMI, New Delhi
37
Recap:
• Why marketing is important.• What is the scope of marketing.• Some fundamental marketing concepts.• How marketing management has changed.• What the necessary tasks are for successful marketing
management.
Understanding Marketing Management