Marketing Management

Marketing Management
09-04-2013
Simplest
definition- meeting needs

profitably
An organisational function and a set of
process for creating, communicating and
delivering value to customers and for
managing customer relationships in ways that
benefit the organisation and its stakeholders
Marketing Management: The art and science
of choosing target market and getting,
keeping and growing customers through
creating, delivering and communicating
superior customer value
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The
stage of Economic self-sufficiency

The Barter system
Money system
The early stage of capitalism
Industrial revolution
The emergence of marketing
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Goods
Consumer goods, machine tools
Services
Hotels, airlines, consultants,
Events
Olympics, World Cup, Ragam
Experiences
Amusement parks
Persons
Celebrities, Politicians, people are brand

themselves
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Places
Kerala Gods Own Country
Properties
Real estate, stocks
Organisations
ITC
Information
Educational institutions
Ideas
Discouraging smoking, improving sanity

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Traditional
definition: Physical place where

buyers and sellers are gathered to buy and
sell goods
Consumer markets
Business markets
Global markets
Non profit and Governmental markets
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The
different concepts / perspectives

directly correspond to the different
orientations of the firms towards market
place
Exchange concept: central idea of marketing
exchange of product between buyer and
seller
Production concept Maximise output,
achieve lower unit cost and sell at lower
price
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Product
concept: win market by product

excellence
Focus on product excellence, quality
Called Marketing Myopia
Sales
concept
Oriented heavily to selling
Marketing
concept
Find right products for your customers

Be proactive
Holistic
marketing
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Everything
matters in marketing
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Aims
to build mutually satisfying long term

relationships with key constituents in order
to earn and retain their business
Four key constituents:
Customers
Employees
Marketing partners channels, suppliers,
distributors, dealers, agencies
Members of the financial community
shareholders, investors, analysts
Marketing
network
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10
Marketing
activities - Marketing Mix tools
4 Ps
Product
Product variety
Quality
Design
Features
Brand name
Packaging
Sizes
Services
Warranties
Returns
Price
List price
Discounts
Allowances
Payment period
Credit terms
Promotion
Sales promotion
Advertising
Sales force
Public relations
Direct marketing
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Place
Channels
Coverage
Assortments
Locations
Inventory
Transport
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Two
key themes
Many different marketing activities communicate

and deliver value
When co-ordinated, marketing activities
maximise their joint effects
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12
Internal
Marketing ensure that everyone in

the organisation embraces appropriate
marketing principles, especially senior
management
Internal marketing must take place at two
levels
One level- various marketing functions sales
force, advertising, customer service, product
management, marketing research must work
together
Second level-other departments must embrace
marketing
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13
Financial
Accountability
Social Responsibility Marketing
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14
Marketer
: A person who seeks response,

attention , a vote, donation form another
party called a Prospect
If two parties are selling some thing to each
other both are called marketers
Market
place: Physical
Market
Space: Digital
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15
Metamarkets:
cluster of complimentary
products and services that are closely related
in the minds of consumers, but spread across
a diverse set of industries
E.g. An automobile metamarket consists of
Automobile manufacturers
New and used car dealers
Financing companies
Insurance companies
Spare parts dealers
Auto magazines
Classifieds auto ad in news papers etc.
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Needs
basic human requirements

Wants needs directed to specific objects
that might satisfy the need
Demand wants for specific product backed
by an ability to pay
E.g.: Need
some thing to write

Want A pen
Demand A Parker pen
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Specific
set of tasks that make up successful

marketing management and leadership
1.
2.
3.
4.
5.
6.
7.
8.
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
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Strategic planning
SWOT analysis
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Gathering
information and
scanning the
environment
a)
Analyse the macro

environment and
identify the factors
Demographic
Economic
Socio-Cultural
Natural
Technological
Political-Legal
b)
Conducting market
research and
forecasting demand
Marketing research
process:
1.
2.
3.
4.
5.
6.
Define the problem, the

decision alternatives and
research objectives
Develop the research
plan
Collect information
Analyse the information
Present the findings
Make the decision
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Creating
Customer Value, Satisfaction and
Loyalty
Understand what the customers value
Cultivating strong customer relationships
Attracting and retaining customers
Analysing
consumer markets
Consumer Behaviour
Analysing
business markets
Identifying market segments and targets
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What
motivate the buyer?

What induces him to buy?
Why does he buy a specific brand from a
particular shop?
Why does he shift his preference from one
shop to another or one brand to another?
How does he react to new product
introduced in the market?
What are the stages he travels through
before he makes the decision to buy?
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Factors
which influence consumer behaviour:

Cultural factors: Culture, subcultures
Social factors: Reference groups, family,
Roles and Status
Personal factors: Age and stage in the life
cycle, Occupation and Economic
Circumstances, Personality and Self-Concept,
Lifestyle and Values
Psychological factors: Motivation, Perception
Learning, Memory
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market segment consists of group of

customers who shares a similar set of needs
or wants
Bases for segmenting
Geographic
Demographic
Psychographic
Behavioural
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Analyse the competitors

Creating brand equity
Brand a name, term, sign, symbol or design, or a

combination of them, intended to identify the goods
or services of one seller or group of sellers and to
differentiate them from those of competitors
Brand Equity is the added value endowed on products
or services
Crafting the brand positioning
Effectively position and differentiate a companys

offering to achieve a competitive advantage
throughout the entire product life cycle
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Deciding
the design, features, quality, etc.

Of the product
Managing services such as delivery, repairing
etc.
Deciding the pricing strategy
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Pricing procedure
Identify the customer groups and their profile

Decide the desired market position and price image
for the brand
Determine the extent of price elasticity of demand of
the product, extent of price sensitivity of target
customer groups
Estimate the various costs
Take into account the life cycle stage of the product
Analyse competitors prices
Analyse the other environmental factors
Choosing the pricing method to be adopted taking all
the above factors into account
Review periodically the pricing policy as well as the
procedure
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Designing
and Managing integrated marketing
channels
Marketing channels: set of interdependent
organisations involved in the process of
making a product or service available for use
or consumption; the set of pathways a
product or service follows from production to
reaching the end user
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Channels
include:
Merchants wholesalers and retailers buy
take title to and resell the merchandise
Agents brokers, manufacturers
representatives sales agents search for
customers and may negotiate on producers
behalf but do not take title to the goods
Facilitators transportation companies,
independent warehouses, banks, advertising
agencies assist in distribution process but
neither take title to goods nor negotiate for
purchase or sales
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Marketing
communications the means by

which firms attempt to inform, persuade and
remind consumers directly or indirectly
about the products and brands they sell
Marketing communications voice of the
company
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Consists
a)
b)
c)
d)
e)
f)
g)
h)
of eight modes of communication
Advertising
Sales promotion
Events and experiences
Public relations and publicity
Direct marketing
Interactive marketing
Word-of-mouth marketing
Personal selling
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Any
paid form of impersonal presentation

and promotion of ideas, goods or services by
an identified sponsor
TV ads
Radio ads
Print ads
Packaging- outer and inner
Display signs
Symbols and logos
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variety of short term activities to

encourage trial or purchase of a product or
service
Premiums and gifts
Coupons
Rebates
Demonstrations
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Company
sponsored activities or programs

designed to create daily or special brand
related interactions
Sports World cup, tournaments
Festivals
Arts
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variety of programs designed to promote or

protect a companys image or its individual
products
Speeches
Seminars
Annual reports
Company magazine
Charitable donations
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Use
of mail, telephone, fax, e-mail or

internet to communicate directly with or
solicit response or dialogue from specific
customers and prospects
Telemarketing
TV shopping
Fax mail
Blogs
Websites
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Online
activities and programs designed to

engage customers or prospects directly or
indirectly raise awareness, improve image,
or elicit sales of products or services
Electronic shopping
E mail
Blogs
Websites
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People
to people oral or written or electronic

communications that relate to the merits or
experiences of using products or services
Person-to-person
Chat rooms
Blogs
Email groups
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Face-to-face
interaction with one or more

prospective purchasers for the purpose of
making presentations answering questions,
and procuring orders
Sales presentations
Sales meetings
Incentive programs
Samples
Fair and trade shows
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For
a successful long term growth and

development, the company should:
Introduce new and innovative products
Develop a strategy that take into account global
opportunities and challenges
Efficiently manage a holistic marketing
organisation for the long run
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5Ms: Mission, Money, Message, Media, Measurement

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An advertising goal is a specific communication

task and achievement level to be accomplished
with a specific audience in a specific period of
time
Types of advertising
Informative advertising: aim to create brand

awareness and knowledge of new products or new
features of existing products
Persuasive advertising: aims to create liking,
preference, conviction and purchase of a product or
service: some persuasive advertising uses comparative
advertising
Reminder advertising: aims to stimulate repeat
purchase of products and services
Reinforcement advertising: aims to convince current
purchasers that they made the right choice
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Factors
affecting budget decisions
Stage in the product life cycle

Market share and consumer base
Competition and clutter
Advertising frequency
Product substitutability
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Message
generation and evaluation

Creative development and execution
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Reach (R): the number of different persons or

households exposed to a particular media
schedule at least once during a specified time
period
Frequency(F): the number of times within the
specific time period that an average person or
household is exposed to the message
Impact (I): the qualitative value of an exposure
through a given medium
Total number of exposures (E): this reach times
the average frequency: E=R x F: also called gross
rating points (GRP)
Weighted number of exposures (WE): WE =R x F
xI
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Choosing among major media types
Factors
Target audience and media habits

Product characteristics
Message characteristics
Cost
Advertising options
Newspaper
TV
Radio
Magazines
Yellow pages
Internet
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46
Communication
impact
Sales
impact
Return on advertising
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47

Marketing Management

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Marketing Management

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Marketing Management

definition- meeting needs

stage of Economic self-sufficiency

Consumer goods, machine tools

Hotels, airlines, consultants,

Olympics, World Cup, Ragam

Celebrities, Politicians, people are brand

Kerala Gods Own Country

Real estate, stocks

Discouraging smoking, improving sanity

definition: Physical place where

different concepts / perspectives

concept: win market by product

Oriented heavily to selling

Find right products for your customers

to build mutually satisfying long term

activities - Marketing Mix tools

Many different marketing activities communicate

Marketing ensure that everyone in

: A person who seeks response,

basic human requirements

some thing to write

set of tasks that make up successful

Developing marketing strategies and plans

Analyse the macro

Define the problem, the

Customer Value, Satisfaction and

motivate the buyer?

which influence consumer behaviour:

market segment consists of group of

Analyse the competitors

Brand a name, term, sign, symbol or design, or a

Crafting the brand positioning

Effectively position and differentiate a companys

the design, features, quality, etc.

Identify the customer groups and their profile

and Managing integrated marketing

communications the means by

of eight modes of communication

paid form of impersonal presentation

variety of short term activities to

sponsored activities or programs

variety of programs designed to promote or

of mail, telephone, fax, e-mail or

activities and programs designed to

to people oral or written or electronic

interaction with one or more

a successful long term growth and

5Ms: Mission, Money, Message, Media, Measurement

An advertising goal is a specific communication

Informative advertising: aim to create brand

affecting budget decisions

Stage in the product life cycle

generation and evaluation

Reach (R): the number of different persons or

Choosing among major media types

Target audience and media habits

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