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Marketing Management - Brief Complete Beginners Guide

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Muhammad Osama Hussain
Muhammad Osama Hussain

Marketing Social Definition, Marketing AMA Definition & Kotler Definition of Marketing Management. Plus Marketing demand states, Marketing Concepts, Company Orientation & Marketing Task.

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DEFINING MARKETING FOR THE 21st CENTURY
Marketing is a societal 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 Social Definition Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organizational goals. AMA Definition
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. Kotler Definition
GOODS SERVICES EVENTSEXPERIENCES PERSONS PLACES PROPERTIES ORGANIZATIONS INFORMATION IDEAS
Dental Work Vaccination Negative Demand Foreign Language Courses No Demand Harmless Cigarettes Fuel-Efficient Cars Latent Demand Churches Declining Demand Hotels Mass-Transit Irregular Demand Changing Preference Increasing Competition Full Demand Demarketing Overfull Demand Cigarettes Alcohol Unwholesome Demand
Marketplace Physical Store Marketspace Digital Internet Metamarket Cluster of complementary products Spread across a diverse set of industries Automobile www.marutitru evalue.com
Needs, Wants and Demands Needs Basic Human Requirements Wants Directed at specific objects Demands Backed by ability to pay Target Markets, Positioning & Segmentation Offerings and Brands Offering Value Proposition made Tangible Brand Offering from a known source Value & Satisfaction Value Benefits / Cost Customer Value Triad Quality, Service and Price Satisfaction Products perceived performance Marketing Channel Communication Channel Deliver & Receive message Distribution Channel Display, sell & Deliver Service Channel Carry out transactions
Oldest Concept Consumers will prefer products that are widely available & Inexpensive Concentrate on achieving high production efficiency, low costs and mass distribution Eg: - Lenovo and Haier in China The Production Concept Consumers favor products that offer most quality, performance and innovative features. Make superior products and improve them over time. Caught in a love-affair with their product. The Product Concept
Consumers, if left alone, wont buy enough of the organizations products. Must undertake an aggressive selling and promotion effort. Practiced most aggressively with unsought goods. Eg:- Insurance & Encyclopedias. Aim is to sell what they make rather than make what the market wants. The Selling Concept Customer Centered instead of Product Centered. Not to find right customers for your products, but to find right products for your customers. Eg:- Dell Reactive Market Orientation Understanding and meeting customers expressed needs Proactive Market Orientation - Understanding and meeting customers latent needs Total Market Orientation The Marketing Concept
Holistic Marketing Concept Internal Marketing Performance Marketing Relationship Marketing Integrated Marketing Customers Channel PartnersSales Revenue Brand & Customer Equity Ethics Environment Legal Commodity Communications Products & Services ChannelsMarketing Dept Senior Mgmt Other Depts
Developing Marketing Strategies & Plan Capturing Marketing Insights Connecting with Customers Building strong brands Shaping the market offering Delivering Value Communicating Value Creating Long-Term Growth
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Marketing Management - Brief Complete Beginners Guide

  • 2. Marketing is a societal 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 Social Definition Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organizational goals. AMA Definition
  • 3. 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. Kotler Definition
  • 5. Dental Work Vaccination Negative Demand Foreign Language Courses No Demand Harmless Cigarettes Fuel-Efficient Cars Latent Demand Churches Declining Demand Hotels Mass-Transit Irregular Demand Changing Preference Increasing Competition Full Demand Demarketing Overfull Demand Cigarettes Alcohol Unwholesome Demand
  • 7. Needs, Wants and Demands Needs Basic Human Requirements Wants Directed at specific objects Demands Backed by ability to pay Target Markets, Positioning & Segmentation Offerings and Brands Offering Value Proposition made Tangible Brand Offering from a known source Value & Satisfaction Value Benefits / Cost Customer Value Triad Quality, Service and Price Satisfaction Products perceived performance Marketing Channel Communication Channel Deliver & Receive message Distribution Channel Display, sell & Deliver Service Channel Carry out transactions
  • 8. Oldest Concept Consumers will prefer products that are widely available & Inexpensive Concentrate on achieving high production efficiency, low costs and mass distribution Eg: - Lenovo and Haier in China The Production Concept Consumers favor products that offer most quality, performance and innovative features. Make superior products and improve them over time. Caught in a love-affair with their product. The Product Concept
  • 9. Consumers, if left alone, wont buy enough of the organizations products. Must undertake an aggressive selling and promotion effort. Practiced most aggressively with unsought goods. Eg:- Insurance & Encyclopedias. Aim is to sell what they make rather than make what the market wants. The Selling Concept Customer Centered instead of Product Centered. Not to find right customers for your products, but to find right products for your customers. Eg:- Dell Reactive Market Orientation Understanding and meeting customers expressed needs Proactive Market Orientation - Understanding and meeting customers latent needs Total Market Orientation The Marketing Concept
  • 10. Holistic Marketing Concept Internal Marketing Performance Marketing Relationship Marketing Integrated Marketing Customers Channel PartnersSales Revenue Brand & Customer Equity Ethics Environment Legal Commodity Communications Products & Services ChannelsMarketing Dept Senior Mgmt Other Depts
  • 11. Developing Marketing Strategies & Plan Capturing Marketing Insights Connecting with Customers Building strong brands Shaping the market offering Delivering Value Communicating Value Creating Long-Term Growth

Editor's Notes

  • #6: Demand States Negative Demand Dislike Product No Demand Unaware or uninterested in the product Latent Demand Strong need which cannot be satisfied by existing products Declining Demand Experiences by all organizations. Irregular Demand Season demand Full Demand Firms are pleased with the volume of business Overfull Demand Demand higher than what can be handled De Marketing Reducing demand temporarily or permanently - Can be reduced by increasing prices, or reducing promotion and services. Unwholesome Demand Products that attract organized effort to discourage consumption
  • #7: MetaMarket- - Cluster of complementary products which are closely related in the minds of the consumer but spread across industries.
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