Session 2 Marketing Management BBA

1. Part 1: Understanding Marketing Management > Remaining portion of Session 1 > Fundamental Marketing Concepts, Trends and Tasks Class Presentation | Session 2 | 11 Aug 2010

2. Fundamental Marketing ConceptsCore Concepts Needs Basic Human Requirements Wants Needs which are directed to a specific object Demands Wants for specific products backed by ability to pay (acquire) MG 220 Marketing Management 2

4. Quality

5. Affordable, Branded

6. A good discount deal

8. Fundamental Marketing ConceptsCore Concepts Offering Positioning is “crafted” into an offering Brands An offering from a known source MG 220 Marketing Management 5

9. Fundamental Marketing ConceptsCore Concepts Value ‘perceived’ tangible and intangible benefits and costs to customers Satisfaction Fulfillment of a need *WRONG* Person’s comparative judgments resulting from a product’s perceived performance If performance < expectations: dissatisfied/dissapointed If performance>=expectations: satisfied/delighted MG 220 Marketing Management 6

10. Fundamental Marketing ConceptsCore Concepts Marketing Channels Communication channels interacting with target buyers Distribution channels display, sell or deliver Service channels facilitating transactions with buyers MG 220 Marketing Management 7

11. Fundamental Marketing ConceptsCore Concepts Supply Chain Marketing Channel: Marketer to target buyer while Supply Chain: A complete value delivery system From Raw materials to components to final buyers MG 220 Marketing Management 8

12. Fundamental Marketing ConceptsCore Concepts Competition all the actual and potential rival offerings and substitutes that a buyer might consider Coke’s competition (?) MG 220 Marketing Management 9

13. Fundamental Marketing ConceptsCore Concepts Marketing Environment Task Environment Immediate actors involved in producing, distributing and promoting the offering Broad Environment Demographic Environment Economic Environment Physical Environment Technological Environment Political-legal Environment Social-cultural Environment MG 220 Marketing Management 10

14. Fundamental Marketing ConceptsCore Concepts Marketing Planning A Process consisting of: Analyzing marketing opportunities Selecting target markets Designing marketing strategies Developing marketing programs Managing the marketing effort MG 220 Marketing Management 11

15. Fundamental Marketing ConceptsShifts in Marketing Management From Marketing does the marketing to everyone does the marketing From organizing by product units to organizing by customer segments From Making everything to buying more goods and services from outside From using many suppliers to working with few “partners” From relying on old market positions to uncovering new ones From emphasizing tangible assets to emphasizing intangible assets From building brands through advertising to building brands through performance and integrated communication MG 220 Marketing Management 12

16. Fundamental Marketing ConceptsShifts in Marketing Management From attracting customers through stores and salespeople to making products available online From selling to everyone to trying to be the best firm serving well-defined target markets From focusing on profitable transactions to focusing on Customer Lifetime Value From a focus on gaining market share to a focus on building customer share From being Local to being “Glocal” From focusing on financial scorecard to focusing on marketing scorecard From focusing on shareholders to focus on stakeholders MG 220 Marketing Management 13

17. Fundamental Marketing ConceptsMarketing Management Tasks Developing Marketing Strategies and Plans Capturing Marketing Insights Connecting with customers Building strong brands Shaping the Market Offerings Delivering value Communicating value Creating Long-term growth MG 220 Marketing Management 14

18. Part 1: Understanding Marketing Management > Marketing & Customer Value > Corporate and Division Strategic Planning > Business Unit Strategic Planning > Product Planning: The Nature and Contents of a Marketing Plan Class Presentation | Session 3 | 16 Aug 2010