BASIC MARKETING MANAGEMENT

MARKETING

MANAGEMENT

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

objectives.

DEFINITION OF MARKETING

The process by which companies create, communicate and

deliver value for the target customers in order to get value in

return.

WHAT IS MARKETING?

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.

WHAT IS MARKETING MANAGEMENT?

MARKETING IS ABOUT;

MARKETING MANAGEMENT

Goods

Services

Events and experiences

Persons

Places and properties

Organizations

Information

Ideas

WHAT IS MARKETED?

Market focus

Customer orientation

Co-ordinated marketing

Profit seeking

THE MARKETING CONCEPT -

FOCUS ON THE CUSTOMER

ignores public

influences values & ideas

DRAWBACKS OF MARKETING CONCEPT

Concerns public welfare and social responsibility

RECENT DEVELOPMENT

-- SOCIETAL MARKETING CONCEPT

Marketing Analysis

Marketing Planning

Marketing Implementation

Marketing Control

THE ROLE OF MARKETING

Gathering, recording

and analysis of data

to solve a specific

problem that is too

important to be answered by guessing

an informational input to decisions

MARKETING RESEARCH

How satisfied the consumers are

How products are perceived

Evaluate the sales potential

Determine the effectiveness of ad

Predict the impact of price changes

WHAT M.R. CAN TELL ?

THE MARKETING RESEARCH PROCESS

Defining the Problem & Research Objectives

Developing the Research Plan

Implementing the Research Plan

Interpreting and Reporting the Findings

To find out the real problem but not the symptom

Set the research objectives

Research approaches:

exploratory

descriptive

causal

1. DEFINING THE PROBLEM AND

RESEARCH OBJECTIVES

Determine specific information needs

Source of information

secondary data

Internal

External

primary data

2. DEVELOPING RESEARCH PLAN

Planning primary data collection

research approach

contact methods

sampling plan

research instruments

2. DEVELOPING RESEARCH PLAN

Research approach

• Observational research

• survey research

• focus group

• experimental research

Contact Methods

• Telephone survey

• Mail questionnaires

• Personal interviews

Sampling Plan

• Sampling unit

• Sampling size

• Sampling procedure

Sampling Techniques

Probability Sampling

• All population members have a knownprobability of being in the sample

Simple Random Sampling

• Each population member, and each possiblesample, has equal probability of beingselected

Stratified Sampling

• The chosen sample is forced to contain unitsfrom each of the segments or strata of thepopulation

Sampling Techniques (Contd.)

Cluster Sampling

• Involves dividing population into subgroups

• Random sample of subgroups/clusters is

selected and all members of subgroups are

interviewed

• Very cost effective

• Useful when subgroups can be identified

that are representative of entire population

Research instrument

The most common instrument is questionnaire

• what questions to ask

• question structure

• wording of question

• order of question

Implementing the research plan

• collecting and

analyzing data

Interpreting and reporting the finding

• Interpret the findings, draw conclusions

and report to management

• the manager will

utilize these findings

to make decisions

THANKS Namita Dande