Marketing Overview. What is (are) marketing’s role(s) in the organization? What problems occur for an organization that does not “Market” well?

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Presentation transcript:

Marketing Overview

What is (are) marketing’s role(s) in the organization? What problems occur for an organization that does not “Market” well?

A Cognitive Map of the Marketing Process Marketing Analysis (The 5c’s) Creating Value by Segmentation Marketing Tools (Marketing Mix – 4 P’s) Sustaining Value – Measuring Sales or Profit Customer Retention vs. Customer Acquisition

The Five C’s of the Marketing Process Customers – marketing concept – strive to satisfy customer needs Company – what are our core competencies Competitors – who are they, what are their competencies Collaborators – who do we “partner” with Context – what is the environment we operate in and are there special circumstances

Strategic Success in the Marketing Process Reaching the Right Market (Creating Value) Market Segmentation Target Market Selection Positioning These three concepts must work together, why? Can’t be most efficient in decision- making unless all 3 are done well. Also must consider the 5 C’s to make the best decisions, why is this true?

Marketing Tools for Success Use the 4 P’s to create value for the appropriate target markets (These are the organizational building blocks to positioning) Product – keep in mind also includes services, and can take on additional aspects in a business market. Price – related to perceived value, what are the components of price. Promotion – communication method – consider the 5 C’s and the desired position Place – distribution system – distribution efficiencies are often driving many current business’ success, explain?

Goals of the Marketing Process Sales vs. Profit Customer Acquisition Customer Retention What are the key drivers to success for each? Is one more important than the other? Is one more profitable than the other?

Completing of the Marketing Process Is anything missing from this Figure? Where does the concept of brand management fit? Where does the concept of marketing research (information gathering) fit?

Key Points to Marketing Success 1. Always keep an eye on the 5 C’s (they may change on you) 2. Realize some solutions may require creative thinking 3. Prepare for contingencies (things don’t always go as planned) 4. Consider risks and rewards 5. Others???

How does this discussion impact your marketing game decisions?