MARKETING for dummies. This presentation will explain in detail in a way anyone, person, institution or organization will comprehend. These subjects will be explained:
WHAT IS MARKETING
MARKETING PROCESS
ROLES OF MARKETING
MARKETING ORGANIZATION STRUCTURE(MOS)
Marketing can be known as a management process responsible for IDENTIFYING, ANTICIPATING and SATISFYING customer requirements profitably.
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2. CONTENT
• WHAT IS MARKETING
• MARKETING PROCESS
• ROLES OF MARKETING
• MARKETING ORGANIZATION
STRUCTURE(MOS)
• IMPORTANCE/ROLES OF
MARKETING STRUCTURE
3.
4. Marketing can be known as a management process responsible for
IDENTIFYING, ANTICIPATING and SATISFYING customer
requirements profitably
Or yet a managerial and organizational function and a set of
processes for PLANNING, IDENTIFYING and SATISFYING
consumers needs through offering of products or services
accompanied with appropriate price, distribution and communication
5. Marketing is a process. The process involves understanding
customer needs, designing customer driven market strategy,
constructing a marketing program(which delivers superior value)
building profitable customer relationship and creating satisfaction,
and capturing value from customers to create profit
7. Consumers always have needs and wants waiting to be satisfied or
that are insufficiently satisfied. Needs are things consumers require
to stay healthy and alive, they can’t be created by marketers. The
duty of a marketer is to identify consumers needs and satisfy them
While wants which the consumer requires can be created by
marketers. Marketers can also identify the existing wants of
consumers and satisfy them.
Demands is to be considered as needs and wants backed by
purchasing power, that is the ability of the consumers to pay for their
needs and wants,
8. Things like
LEVEL OF ECONOMIC DEVELOPMENT
EMPLOYMENT RATE
GENERAL INCOME
Influences consumers effective demand thus
Marketers must pay serious attention to these
Economic variables
10. Marketing management calls for the application of art and science
in realizing marketing objectives on one hand, and
entrepreneurial or companies objectives on the other hand.
Marketing strategy is one way of doing marketing scientifically.
Strategy is a means to an end, it specifies exactly how marketing
goals can be achieved despite the firms limited resources amidst
high competition
11. Thus, marketing strategy raises and provides answer to
three basic questions:
What is our target market
How can we serve our
chosen target market better
than our competitors can
Do we have the resource to
serve the target market
better
12. In providing answers to the raised questions, marketing managers
must segment the total market, target one or more segments, and
position their product in the midst of the consumers as on
providing added value.
14. At this level, the marketer needs to transform the marketing
strategy into action plan by designing and implementing the
company’s marketing mix program. To beat competitors, a firm’s
offerings must provide superior value, otherwise called (POP) and
point-of-difference (POD) POPs are product attributes and
performances that consumers associate with most competing or
substitute brands(a company and it’s competitor’s brands); in other
words, the minimal attributes and benefits consumers expect from
a given product irrespective of the producer. Consumers perceive
these associations as prerequisites in every product for it to worth
purchasing. Simply put, POP is the consumers “zone or range of
tolerance and acceptance.”
15. PODs are product attributes and benefits that consumers associate
with a particular brand and which is absent in competing brands.
In other words, PODs are products that consumers view as having
unique attributes and provide distinct benefit benefits compared to
it’s substitutes. These distinct attributes, performances and
benefits are the ones that offer added value to customers. By
providing superior value, the company has gained a competitive
advantage.
17. The essence of building customer needs and wants, designing
customer driven market strategy, and delivering superior values, is
to build strong and lasting relationship with profitable customer.
Customer Relationship Management(CRM) has gained
considerable attention in recent times this is because studies have
shown that it is costlier to attract new customers than to keep
current profitable customers in other words, it is cheaper and
profitable to retain existing customers than to attract new ones.
18. CRM is often known as the overall process of building and
maintaining profitable customer relationships by
delivering superior customer value and satisfaction.
It deals with all aspect of acquiring, keeping and growing
customers.
19. It is important to note that new customer values create customer
satisfaction. By customer satisfaction we mean the positive
difference between customer perception and expectation
regarding a particular product, if falls short of expectations the
customer is dissatisfied. And if the perception equals the
expectations the customer is highly satisfied or delighted.
20. Satisfaction is the outcome of a product/service evaluation by
customers implying that service has to be consumed before it can
be assessed, it is also important to stress that consumers usually
configure expectations before they actually purchase a product.
however, perception is the after-purchase consumers construct. A
big poser here is “how do consumers form their expectations even
before purchasing and consuming the product/service.
22. Business and non-business organizations have clearly stated
objectives to be achieved. Business organizations often pursue
profit maximization, market share leadership, and shareholders
wealth maximizations goals among others. It is at this stage of the
marketing process that these objectives are realized.
in the first four steps, the firms incurs cost in creating value to
customers. At this stage, the firms captures value in the return from
customers through current and future sales, market share and profit.
23. Marketing roles bother on how to structure a marketing organization
in order to attain optimum company performance. Marketing roles
can be broadly analyzed and understood using two approaches – the
function approach and process approach.
24. This is the traditional approach that explains the role of marketing
in an organization. By this approach, all organizations are to
recognize marketing as a department with reserved
responsibilities to plan, direct, coordinate and control all
marketing activities relating to needs identification, product
development, pricing, distribution, promotion, customer
relationship management, and customer complain management.
Some of its benefits is that it enhances efficiency and it improves
organizational capabilities. But it also causes regular occurrence of
inter-functional conflicts.
FUNCTIONAL
APPROACH
25. This is the modern approach that explains the role of
marketing in an organization. The approach suggests that
while it is necessary for all organization to have a
marketing department, it is equally essential for the
marketing knowledge, skills, orientations and values to be
dispersed to employees in other departments. This
approach ensures that all departments in the organization
value customer, share information about customers, and
engage in activities designed to meet customers needs.
PROCESS
APPROACH
26. MOS is a diagram showing the units withing a marketing
organization, the relationship among the units, the management
levels, the communication channels, the roles of each units and the
immediate subordinates and superiors.
27. TYPES OF MOS
The typologies of MOS are Functional MOS, Process MOS,
Product MOS, Regional MOS, and Matrix MOS.
30. General manager
(marketing)
Product ‘A’
department
(example
Samsung TV)
Product ‘B’
department
(example
Samsung cell
phone)
Product ‘C’
department
(example
Samsung
fridge)
Product
format
PRODUCT MOS:
in this case, a company that produces variety of products may structure or
organize the company based on product types. That is, departments will
bear product names as depicted in the figure below. This framework greatly
enhance product knowledge and expertise.
32. Matrix MOS:
This is a combination of at least two types of MOS described
previously. For example, a company that produces three
products-product ‘A’, product ‘B’ and product ‘C’ – may create
pricing distribution and sales departments for each product
department.
34. 1. it gives a vivid picture of the organization, - small
enterprise, medium enterprise or large enterprise.
2.It reveals the target markets of the company.
3.It shows whether an organization produces goods or offers
services.
4.It shows the specialized functions in an organization.
5.It reveals the varieties of products the company offers to
the market
6.It shows line of authority and responsibilities in an
organization.
35. REFERENCE
In reference to introduction to marketing for
students, practitioners & consultants By
M.A. MAWOLI
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