1. 1 MARKETING AND MARKETING MANAGEMENT Module 1

2. 2 Objectives Defining marketing and marketing management The scope of marketing Some fundamental marketing concepts How has marketing management changed The tasks necessary for successful marketing management

3. 3 Objectives Cont’d Important trends in marketing practices Some key factors to effective internal marketing Companies as responsible social marketers Improving company’s marketing skills Available tools to help companies monitor and improve their marketing activities

4. 4 What is Marketing? Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.

5. 5 What is Marketing ? Marketing is a social process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others.

6. 6 What is Marketing Management ? Marketing management is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.

7. 7 What is Marketing Management? Marketing Management Marketing Management is the process of analyzing, planning, implementing and controlling programmes involving the conception, pricing, promotion and distribution of products, services and ideas to create and maintain beneficial exchanges with target markets for the purpose of achieving organizational objectives. (Boyd, Walker and Larreche)

8. 8 What is Marketed? Goods Services Events and experiences Persons Places and properties Organizations Information Ideas

9. 9 Demand States Negative Nonexistent Latent Declining Irregular Unwholesome Full Overfull

10. 10 Key Customer Markets Consumer markets Business markets Global markets Nonprofit/Government markets

11. 11 Company Orientations Production Product Selling Marketing

12. 12 Core Concepts Needs, wants, and demands Target markets, positioning, segmentation Offerings and brands Value and satisfaction Services marketing Marketing channels Supply chain Competition Marketing environment Marketing planning Market International marketing

13. 13 New Consumer Capabilities A substantial increase in buying power A greater variety of available goods and services A great amount of information about practically anything Greater ease in interacting and placing and receiving orders An ability to compare notes on products and services An amplified voice to influence public opinion

14. 14 Marketing Management Tasks Develop market strategies and plans Capture marketing insights Connect with customers Build strong brands Shape market offerings Deliver value Communicate value Create long-term growth

15. 15 The Marketing Management Process This is the management of the activities and variables involved in the whole process of marketing management.

16. 16 The Marketing Management Process Cont’d It involves the following: Corporate, Business Unit And Marketing Strategies Market Opportunity Analysis Formulating Marketing Strategic Programmes Formulating Marketing Programmes For Selected Situations Implementing And Controlling Strategic Marketing Programmes

17. Corporate, Business Unit and Marketing Strategies These strategies are formulated at the various levels of the organization to address specific issues.

18. Market Opportunity Analysis This implies analysis of contextual opportunities and threats, which are on-going responsibilities for marketing managers.

19. 19 Market Opportunity Analysis Cont’d It involves the following : Environmental and Competitor Analysis Analysis of Industry Dynamics and Strategic Change Customer Analysis Marketing Research and Market Measurements Market Segmentation, Targeting and Positioning

20. 20 Formulating Marketing Strategic Programmes This involves three interrelated sets of decisions: Setting specific objectives for target markets e.g. sales volume or market share. Determining overall marketing strategies to appeal to customers in order to gain competitive advantage. Making decisions about each element of the tactical marketing programme

21. 21 The Marketing Mix Marketing Mix is the combination of controlled marketing variables that a manager uses strategically in pursuit of the firms objectives in a given target market.

22. 22 The Marketing Mix PRODUCT Quality Style Brand name Guaranties/Warranties Services/Spare parts PRICE Discounts Allowances/Agency fees Credit terms Payment period Rental/lease PLACE Number and types of middlemen Location/availability Inventory Transportation PROMOTION Advertising Personal selling Publicity Public Relations Point of purchase materials Sales promotion THE TARGET MARKET

23. 23 Formulating Marketing Programmes For Selected Situations These would include e.g. new and growing markets, strategies for mature and declining markets.

24. 24 Implementing And Controlling Strategic Marketing Programmes This involves: Implementing business and marketing strategies Monitoring and controlling marketing programmes

25. 25 Evolving Marketing concepts Holistic marketing sees itself as integrating the value exploration, value creation, and value delivery activities with the purpose of building long-term, mutually satisfying relationships and cooperation among key stakeholders

26. 26 Evolving Marketing concepts Cont’d Societal Marketing Concept holds that the organization should determine the needs, wants and interest of target markets and deliver the desire satisfaction more effectively and efficiently than competitors in a way that that maintains or improves the consumer’s and society’s well being. Relationship Marketing aims to build mutually satisfying long-term relationships with key constituents in order to earn and retain their business.

27. 27 Evolving Marketing concepts Cont’d Social Marketing is marketing done by a nonprofit or governmental organization to further a cause such as “say no to drugs” E-marketing is a company’s effort to inform buyers, communicate, promote, and sell its products and services over the internet.

28. 28 Corporate Social Responsibility Socially responsible behavior Ethical behavior Legal behavior