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The scope of marketing
- 1. The Scope of Marketing • Marketing: typically seen as the task of creating, promoting, and delivering goods and services to consumers and businesses.
- 2. Demand States and Marketing Tasks • 1. Negative demand A major part of the market dislikes the product and may even pay a price to avoid it—vaccinations, dental work, and gallbladder operations, for instance. Employers have a negative demand for ex-convicts and alcoholics as employees. The marketing task is to analyze why the market dislikes the product and whether a marketing program consisting of product redesign, lower prices, and more positive promotion can change beliefs and attitudes.
- 3. Demand States and Marketing Tasks cont... • 2. No demand Target consumers may be unaware of or uninterested in the product. Farmers may not be interested in a new farming method, and college students may not be interested in foreign-language courses. The marketing task is to find ways to connect the benefits of the product with people’s natural needs and interests.
- 4. The Scope of Marketing cont... • Places • Properties • Organizations • Goods • Services • Experiences • Information • Ideas • Events • Persons
- 5. The Decisions Marketers Make • Consumer Markets • Business Markets • Global Markets • Nonprofit and Governmental Market
- 6. Marketing Concepts and Tools • Defining Marketing management • Core Marketing Concepts Target Markets and Segmentation
- 7. Marketing Concepts and Tools cont...
- 8. Marketing Concepts and Tools cont... • Marketplace, Marketspace, and Metamarket • Marketers and Prospects • Needs, Wants, and Demands • Product, Offering, and Brand • Value and Satisfaction • Customer value triad Value = Benefits / Costs = (Functional benefits + Emotional benefits) /(Monetary costs + Time costs + Energy costs +Psychic costs) • Exchange and Transactions
- 9. Marketing Concepts and Tools cont... • Relationships and Networks • Relationship marketing • Marketing network • Marketing Channels • Supply Chain
- 10. Marketing Concepts and Tools cont... • Competition Brand competition Industry competition Form competition Generic competition • Marketing environment Task environment Broad environment • Marketing Program Marketing program Marketing mix
- 11. Role of Marketing department in an organization • ASSIGNMENT-1
- 12. Company Orientations Toward the Marketplace • Production Concept • Product concept • Selling Concept • Marketing Concept
- 13. Company Orientations Toward the Marketplace cont... • Target Market • Customer Needs Stated needs Real needs Unstated needs Delight needs Secret need
- 14. Company Orientations Toward the Marketplace cont... • Integrated Marketing External marketing Internal marketing
- 15. Company Orientations Toward the Marketplace cont... • Profitability Sales decline Slow growth Changing buying patterns Increasing competition Increasing marketing expenditures
- 16. Company Orientations Toward the Marketplace cont... • Societal Marketing Concept Cause-related marketing
- 17. Trends & Changing nature of marketing • Customers • Brand manufacturers • Store-based retailers
- 18. Trends & Changing nature of marketing • Company responses and adjustments Reengineering Outsourcing Partner-suppliers Market-centered E-commerce Benchmarking Alliances Global and local Decentralized
- 19. Trends & Changing nature of marketing • Marketer Responses and Adjustments Customer relationship marketing Integrated marketing communications Customer lifetime value Customer share Target marketing Customization Customer database Channels as partners Every employee a marketer Model-based decision making
- 20. Gathering information & analyzing macro environment • Marketing information system: People and procedures for assessing information needs, developing the needed information, and helping decision makers to use the information to generate and validate actionable customer and market insights.
- 21. The Components of a Modern Marketing Information System • What decisions do you regularly make? • What information do you need to make these decisions? • What information do you regularly get? • What special studies do you periodically request?
- 22. The Components of a Modern Marketing Information System cont... • What information would you want that you are not getting now? • What information would you want daily? Weekly? Monthly? Yearly? • What magazines and trade reports would you like to see on a regular basis? • What topics would you like to be kept informed of? • What data analysis programs would you want? • What are the most helpful improvements that could be made in the present marketing information system?
- 23. MIS • Assessing Information needs • Developing needed information (Internal databases, Marketing intelligence, Marketing research) • Analyzing and using information(For Decision making —eg. CRM, distribution of marketing information) • Decision makers--Marketing managers and other information users • Marketing environment---(Target markets, Marketing channels, Competitors, Public, Macroenvironment forces)
- 24. Internal Record Systems • The Order-to-Payment Cycle • Sales Information Systems • Databases, Data Warehouses And Data- Mining