Presentation is loading. Please wait.

Presentation is loading. Please wait.

Marketing Management MNM202-Y MND203-S.

Similar presentations

Presentation on theme: "Marketing Management MNM202-Y MND203-S."— Presentation transcript:

1 Marketing Management MNM202-Y MND203-S

2 The nature of marketing
Marketing is the process of planning and executing the conception, pricing, marketing communication and distribution of ideas, products, and services to create exchanges that satisfy individual and organisational goals. Marketing is about satisfying needs

3 People give up something to receive something they would rather have
The concept of exchange People give up something to receive something they would rather have Conditions that must be met for exchange to take place: At least two parties Each party must have something of value to the other Parties must be able to communicate and deliver Parties must be free to accept or reject the offer Each party must want to deal with the other

4 The marketing “gaps” Gaps that exist between production and consumption that are bridged by marketing: Space gap Time gap Information gap Ownership gap Value

5 Important concepts Needs and wants and demands Products Value Satisfaction Market Intermediaries

6 Orientation towards markets
Production orientation What can we do best? Sales orientation Sell - no matter what Marketing orientation Satisfy the consumer profitably by working together Societal orientation Do what we do without harming society

7 2 1 4 3 The marketing concept - NB Profitability Consumer satisfaction
Satisfy the needs of the consumer and society as a whole, profitably, while working together as an organisation 2 Profitability 1 Consumer satisfaction Organisational integration Social responsibility 4 3

8 Relationship marketing
A broader view of the market (long term) Expansion of the marketing offering (6p’s) A bigger market

9 The marketing process (Fig 1.3)

10 The marketing environment

11 Marketing research Process of designing, gathering, analysing and reporting information that may be used to solve a specific marketing issue Questions to answer: Who is the market? How do we segment the market? What are the wants and needs of the market? How do we measure the market? Who are our competitors? Which model of the product will best suit the market? What is the best price? How will we communicate with the customers?

12 The marketing information system
A system for generating and managing a flow of information for marketing decision making Components: Internal reporting sub-system Marketing intelligence sub-system Statistical sub-system Marketing research sub-system

13 The marketing research process

14 Data sources

15 Sampling methods Probability sampling: Simple random sampling Stratified random sampling Cluster sampling Non-probability sampling Convenience sampling Judgment sampling

16 Market potential vs Sales potential
Market potential: The maximum possible sales of a specific product in a specific market over a specific period of time for all sellers in the industry. Sales potential: The upper limit of sales that a firm could possibly reach for a specific product in a specific market over a specific time period.

17 Market potential and sales forecasting
Levels of market measurement: Consumer level Product level Geographic level Time level Relevant markets for measurement: Total market Available market Target market Penetrated market

18 Market potential and sales forecasting
Methods for estimating market and sales potential: Breakdown methods Build up methods Market forecast: An estimate of the expected sales of a specific product in a specific market over a specific time for all sellers in the industry Sales forecast: An estimate of the number of units a firm expects to sell of a specific product in a specific market over a specific time

19 Forecasting methods Sales force surveys Expert surveys Time series analysis

20 Consumer behaviour Types of purchase decisions: Complex purchase decisions Dissonance reducing behaviour Habitual purchasing behaviour Variety-seeking purchase behaviour Routine decision making Impulsive decision making

21 Consumer behaviour

22 Individual Factors Perception Things to remember: Definition
Sensory stimuli Perceptual defence mechanisms Motivation Things to remember: Definition Levels of motives Maslow’s hierarchy of needs Things to remember: Definition Characteristics of attitudes (pg 144) Attitude Things to remember: Definition Motivation, attention, repetition Learning ability Personality Things to remember: Definition Examples (pg 145) Lifestyle Things to remember: Definition AIO

23 Group Factors Opinion leaders Culture Things to remember: Definition
Refer to diffusion process Culture Things to remember: Definition Sub-cultures Reference groups Things to remember: Definition Types of groups Ways in which groups affect consumers Family Things to remember: Definition Phases of family life-cycle Role differentiation in families

24 Market targeting: The process of deciding which segment to pursue
Market segmentation, targeting and positioning Market segmentation: The process of dividing a heterogeneous market in to homogeneous segments Market targeting: The process of deciding which segment to pursue Product positioning: The way customers perceive products relative to the competition

25 Segmentation Why segment? Why not segment? Prerequisites for market segmentation also known as criteria for a segment to be effective: Measurable Large enough Accessible Actionable Differentiable

26 Bases for segmentation
Geographic Demographic Psychographic Behavioural

27 Market targeting Concentrated targeting (one segment) Differentiated targeting (a few segments) Undifferentiated targeting (all segments)

28 Product positioning

29 Positioning methods Attribute positioning Benefit positioning Use/application positioning User positioning Competitor positioning Product category positioning Quality/price positioning

30 Chapter Six – Integrate it all
Product Promotion Price Place

Download ppt "Marketing Management MNM202-Y MND203-S."

Similar presentations

Ads by Google