chap-1 defining-marketing strategies for companies

Marketing management lectures

1. Marketing Management
 
Mr. Ahsan Ali Ashraf
(Lecturer)
[email protected]

2.  Students understand the basic theories,
concepts, methods, variables, problems,
practices, processes, and terminology of
contemporary marketing.
 Begin to develop and utilize analytical,
decision- making, and problem-solving skills
that approximate "real world" marketing.
 Develop a consciousness about the
importance of ethics in the marketing
discipline.

Course Objectives

3.  Understand the importance in business
practice of being marketing oriented.
 Describe a range of common strategies for
use with each of the various marketing mix
tools: product, pricing, promotion, and
distribution.
 Recommend and justify an appropriate mix
of such strategies to form a cohesive overall
strategy for a given marketing task or
situation.

Learning Outcomes

4.  Marketing Management – A South Asian Perspective
by Philip Kotler, Kevin Lane Keller, Abraham Koshy &
Mithileshwar Jha, 13th Edition, Published by Pearson
Education, Inc.
 Strategic Marketing Management – Meeting The
Global Marketing Challenges by Carol H. Anderson &
Julian W. Vincze Published by Houghton Mifflin Company.
 Principles of Advertising & IMC by Tom Duncan 2
nd

Edition, Published by McGraw-Hill Irwin.
 Principles of Marketing by Philip Kotler & Gary Armstrong
Thirteenth Edition, Published by Prentice Hall
Recommended Books

5. My basic teaching philosophy for this course is
to blend the theory and practice of Marketing
Planning and Implementation in a comfortable,
supportive & easy language that promotes active
learning.

Teaching Methodology

6. Assessment Criteria
Your assessment & final grades will be based as per University existing rules.
ITEMASSESSMENT TASK TOTAL MARKS
1 Assignments (4) 10%
2 Quizzes (4) 10%
3
Graded Discussion
Topics and Project
10%
4 Mid Term 30%
5
Final Examination 40%

7. Course Outline
 Defining Marketing For The 21
st
Century
 Developing Marketing Strategies And Plans
 Gathering Information & Scanning The Environment
 Conducting Marketing Research
 Creating Customer Value, Satisfaction, and loyalty
 Analysing Consumer Markets
 Identifying Market Segments And targets
 Creating Brand Equity
 Setting Product Strategy
 Developing Pricing Strategies And Programs
 Introducing New Market Offerings
 Using Advertising & Promotion To Build Brands
 Advertising & IMC Media Planning
 Consumer Sales Promotion & Packaging
 How Brand Communication Works

8. Defining Marketing
for the 21
st
Century
LECTURE-1

9. Chapter Questions
•Why is marketing important?
•What is the scope of marketing?
•What are some fundamental marketing
concepts?
•How has marketing management changed?
•What are the tasks necessary for successful
marketing management?

10. 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.
(American Marketing Association Formal Definition)

11. 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.
(American Marketing Association Formal Definition)

12. What is Marketing Management?
Marketing management is the
art and science
of choosing target markets
and getting, keeping, and growing
customers through
creating, delivering, and communicating
superior customer value.

13. What is Marketed?
•Goods
•Services
•Events and experiences
•Persons
•Places and properties
•Organizations
•Information
•Ideas

14. Demand States
•Negative Demand
•Consumers dislike the
product e.g. Vaccination, Dental work
•Nonexistent Demand
•Consumers may be unaware
of the product e.g. Foreign Language
course
•Latent Demand
•Consumers may share a
strong need that can’t be
satisfied with existing product
e.g. Harm less cigarettes, Fuel Efficient cars
•Declining Demand
•Consumers begins to buy the
product less frequently e.g.
churches, Govt. Schools
•Irregular Demand
•Consumers purchases vary on a
seasonal, monthly, weekly, daily or
hourly e.g. Museums on week days, Travelling
Peak Off Peak time
•Unwholesome Demand
•Consumers attracted to products
that have undesirable social
consequences e.g. Cigarettes, Alcohol,
Drugs
•Full Demand
•Consumers are adequately buying
all products.
•Overfull Demand
•More consumers would like to buy
than can be satisfied.

15. Key Customer Markets
•Consumer markets
•Business markets
•Global markets
•Nonprofit/Government markets

16. Functions of CMOs
•Strengthening the brands.
•Measuring marketing effectiveness.
•Driving new product development based on
customer needs.
•Gathering meaningful customer insights.
•Utilizing new marketing technology.

17. Core Marketing Concepts
•Needs, wants, and
demands
• 1. Stated needs (The customer wants an
inexpensive car.)
• 2. Real needs (The customer wants a car whose
operating cost, not initial price, is low.)
• 3. Unstated needs (The customer expects good
service from the dealer.)
• 4. Delight needs (The customer would like the
dealer to include an onboard GPS navigation
• system.)
• 5. Secret needs (The customer wants friends to
see him or her as a savvy consumer.)
•Target markets, positioning,
segmentation
•Offerings and brands
•Value Proposition
•Value and satisfaction
•Customer value Triad
Quality, Service & Price (QSP)
•Marketing channels
•Communication Channels e.g.
Newspapers, Magazines Radio., Television, Mail,
Telephone, Billboards, Posters, Fliers, CDs, Audio
Tapes & Internet
•Distribution Channels e.g. Distributors,
Wholesalers, Retailers, & Agents
•Supply chain
•Competition
•Marketing environment
•Task Environment e.g. Company,
Suppliers, Distributors, Dealers & Target
Customers
•Broad Environment e.g. Demographic,
PESTL
•Marketing planning

18. The New Marketing Realities
•Network information technology
•Globalization
•Deregulation
•Privatization
•Heightened competition
•Industry convergence
•Consumer resistance
•Retail transformation
•Disintermediation
Major Societal Forces

19. New Consumer Capabilities
•A substantial increase in buying power
•A greater variety of available goods and
services.
•A great amount of information about practically
anything.
•Greater ease in interacting and placing and
receiving orders.
•An ability to compare notes on products and
services.
•An amplified voice to influence public opinion.

20. New Company Capabilities
•Marketers can use the Internet as a powerful information and sales channel
•Marketers can collect fuller and richer information about markets,
customers, prospects, and competitors
•Marketers can tap into social media to amplify their brand message
•Marketers can facilitate and speed external communication among
customers
•Marketers can send ads, coupons, samples, and information to customers
who have requested them or given the company permission to send them
•Marketers can reach consumers on the move with mobile marketing
•Companies can make and sell individually differentiated goods
•Companies can improve purchasing, recruiting, training, and internal and
external communications
•Companies can facilitate and speed up internal communication among
their employees by using the Internet as a private intranet
•Companies can improve their cost efficiency by skillful use of the
Internet

21. Company Orientations Toward The
Market Place
•The Production Concept
•Consumers will prefer products that are widely available &
inexpensive e.g. Lenovo, Haier etc.
•The Product Concept
•Consumer favor products that offer the most quality,
performance, or innovative features e.g. Rolex etc.
•The Selling Concept
•Consumers & businesses, if left alone, won’t buy enough of
the organization’s products e.g. Insurance, Encyclopedias etc.
•The Marketing Concept
•Emerged in mid 1950s Customer-Centered “Sense &
Respond” e.g. Dell Computer etc.

22. Marketing Mix and the Customer
Four Ps
•Product
•Product Variety/Quality/ Design/
Features/Brand Name/ Packaging/
Sizes/Services/Warranties/Returns
•Price
•List Price/Discounts/Allowances/
Payment Period/Credit Terms
•Place
•Channels/Coverage/Assortments/
Locations/Inventory/Transport
•Promotion
•Sales Promotion/Advertising/Sales
Force/Public relations/ Direct Marketing
Four Cs
•Customer solution
•Customer cost
•Convenience
•Communication

24. The Holistic Marketing Concept
•Relationship Marketing
•Relationship marketing is a strategy designed to foster
customer loyalty, interaction and long-term engagement.
•Integrated Marketing Communication
•Integrated marketing communication (IMC) is a process
for planning, executing and monitoring the brand
messages that create customer relationship.
•Internal Marketing
•Internal marketing is the task of hiring, training, and
motivating able employees who want to serve customers
well.

25. The Holistic Marketing Concept…
•Performance Marketing
•Financial Accountability
•Social Responsibility
Marketing
Corporate Social Initiatives
•Corporate social
marketing
•Cause marketing
•Corporate philanthropy
•Corporate community
involvement
•Socially responsible
business practices

27. Marketing in an Age of Turbulence
•Secure your market share from core customer segments
•Push aggressively for greater market share from competitors
•Research customers more now, because their needs and wants
are in flux
•Minimally maintain, but seek to increase, your marketing budget
•Focus on all that’s safe and emphasize core values
•Drop programs that aren’t working for you quickly
•Don’t discount your best brands
•Save the strong; lose the weak

28.  Marketing Management – A South Asian Perspective
by Philip Kotler, Kevin Lane Keller, Abraham Koshy &
Mithileshwar Jha, 13th Edition, Published by Pearson
Education, Inc.
 Strategic Marketing Management – Meeting The
Global Marketing Challenges by Carol H. Anderson &
Julian W. Vincze Published by Houghton Mifflin Company.
 Principles of Advertising & IMC by Tom Duncan 2
nd

Edition, Published by McGraw-Hill Irwin.
 Principles of Marketing by Philip Kotler & Gary Armstrong
Thirteenth Edition, Published by Prentice Hall
References & Bibliography

29. "Unless you try to do something beyond what you have
already mastered, you will never grow."
- Ronald E. Osborn
The End…