2nd Lesson Plan Marketing Management

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Marketing Management

Session 2

UIN, 26 September 2009



Lesson plan

� 10.35 10.50 (15) Review of first session

� 10.50 11.35 (45) Marketing principles 1

� 11.35 11.55 (20) Group discussion

� 11.55 12.40 (45) Marketing principles 2

� 12.40 12.55 (15) Group discussion

� 12.55 13.00 (5) Wrap up



Review: Core concepts

Many views towards Marketing: e.g:

A social and managerial process by which individuals and groups

obtain what they need and want through creating and

exchanging products and value with others.

A system of business activities designed to plan, price, promote

and distribute want satisfying goods and services to target

markets, in order to achieve organizational objectives.



What is Marketing?

� A managerial process deployed by an

organisation (individual or group).



What are its objectives?

To fulfil the needs and wants of the deploying

organisation. These could be anything. They could be

to maximise profits, although the objective of

commercial marketers is usually to achieve salestargets or market share objectives. More generally,

the objective for a profit or non-profit organisation

could be to change the needs and wants of other

individuals or groups, for example to increase thewant of individuals for protection against AIDS.



How is it achieved?

A social process whereby other individuals or groups

obtain needs and wants by creating and exchanging

products and value. This limits how the deploying

organisation behaves. It has to understand the needsand wants of other individuals or groups and change

itself so that it can create products and value that it

can exchange.



It revolves around.



Needs, wants, demands

� Human needA state of felt deprivation.

� Human wantThe form that a human need

takes as shaped by culture and individualpersonality.

� DemandsHuman wants that are backed by

buying power.



Marketing offer

� Some combination of products, services,

information, or experiences offered to a

market to satisfy a need or want.



Value and satisfaction

Customer valueThe consumers assessment of the

products overall capacity to satisfy his or her needs.

Customer satisfactionThe extent to which a

products perceived performance matches a buyers

expectations. If the products performance falls short

of expectations, the buyer is dissatisfied. If

performance matches or exceeds expectations, the

buyer is satisfied or delighted.



Exchange and transactions

ExchangeThe act of obtaining a desired object from

someone by offering something in return.

TransactionA trade between two parties that

involves at least two things of value, agreed-upon

conditions, a time of agreement and a place of

agreement.



Marketing management is

The art and science of choosing target markets and

building profitable relationships with them.

A simple marketing system:



A Market is

The set of all actual and potential buyers of a product

or service.

Main actors and forces in a modern marketing system:



Marketing mix

1. Product

Anything that can be offered to a market for

attention, use, or consumption that mightsatisfy a want or need. It includes any tangible

item, services, ideas, concepts, or a person.



Marketing mix

2. PRICE

The sum of the values that consumers exchange

for the benefits of having or using the productor services.



Marketing mix

3. PLACE ( Distribution channel )

A set of interdependent organizations involved

in the process of making a product or serviceavailable for use or consumption by the

consumer or business user.

4. PROMOTION

Promotion is simply coordination of individual

methods of promotions such as advertising,

personal selling and sales promotion.



From the other side

� Four Cs

� Customer needs and wants

�Cost to the customer

� Convenience

� Communication





Marketing management philosophies

Production conceptThe philosophy that consumers

will favour products that are available and highly

affordable, and that management should therefore

focus on improving production and distributionefficiency.

Product conceptThe idea that consumers will favour

products that offer the most quality, performance

and features, and that the organisation should

therefore devote its energy to making continuous

product improvements.




Selling conceptThe idea that consumers will not buy

enough of the organisations products unless the

organisation undertakes a large-scale selling and

promotion effort.







Marketing conceptThe marketing management philosophy

which holds that achieving organisational goals depends on

determining the needs and wants of target markets and

delivering the desired satisfactions more effectively andefficiently than competitors do.

Societal marketing conceptThe idea that the organisation

should determine the needs, wants and interests of target

markets and deliver the desired satisfactions more

effectively and efficiently than competitors in a way that

maintains or improves both the consumers and societys

well-being.





Three considerations underlying the societal marketing

concept



Marketing in the noughties

� The only constant is change

�The rapid pace of change means that thefirms ability to change will become a

competitive advantage.

� Ever-changing markets are not a threat, but

the lifeblood of marketing.



Marketing in the noughties

� They create opportunities for existing brands

to refresh, opportunities for new products,

new ways of communicating to customers and

completely new markets:





Marketing process

The process of

(1) Analysing marketing opportunities;

(2) Selecting target markets;(3) Developing the marketing mix; and

(4) Managing the marketing effort.

Documents

2nd Lesson Plan Marketing Management