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How has marketing management changed
in recent years?
New marketing realities
Network and information technology
Globalization and privatization
Deregulation
Consumer buying power and information
Consumer participation and resistance
Industry convergence and heightened competition
Retail transformation
Major Societal Forces
New company capabilities
Use of internet and social media for promotion and sales
New company capabilities
Better access to richer market information and consumer preferences
Ads, coupons, samples etc. to promote products
Highly differentiable and customizable products
Improving cost efficiency
Subway providing customized products
Dominos providing promotional discount coupons
Apple server facility using solar powerSurveys providing better information
Company orientation towards marketplace
•Consumers prefer widely available and inexpensive products•Company concentrates on high efficiency and low costsThe production concept
•Consumers favor quality, performance and innovativenessThe product concept
•Used generally for unsought goods like insurance etc.The selling concept•Be more effective than competitors in creating, delivering and communicating superior consumer valueThe marketing concept
•Everything mattersThe holistic marketing concept
Performance marketing
Financial accountability
Social responsibility marketing
Assessing Which Company Departments AreCustomer-Minded
R&D
Purchasing
Manufacturing
SalesLogistics
Finance and accounting
Public relations
The 4 Ps
These slides were created by Sharang Agarwal, IIT Kharagpur as part of an internship done under the guidance of Prof. Sameer Mathur, IIM Lucknow (www.IIMInternship.com)
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