Introduction to Marketing Management.ppt

Defining Marketing Defining Marketing for the 21for the 21st st CenturyCentury1What is Marketing?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.What is Marketing What is Marketing Management?Management?Marketing management is theart and science of choosing target markets and getting, keeping, and growing customers throughcreating, delivering, and communicatingsuperior customer value.Selling is only the tip of the Selling is only the tip of the icebergicebergThere will always be a need for some selling. But the aim of marketing is to make selling superfluous. The aim of marketing is to know and understand the customer so well that the product or service fits him and sells itself. Ideally, marketing should result in a customer who is ready to buy. All that should be needed is to make the product or service available.Peter ruckerScope of MarketingScope of Marketing!oods!oods"ervices"ervices#vents $ #%periences#vents $ #%periences&ersons&ersons&laces $ &roperties&laces $ &roperties'rganizations'rganizations(nformation(nformation(deas(deasMarketing Can Promote IdeasMarketing Can Promote IdeasPositioningPositioning&ress ads of the "corpio focused on the functional features of the vehicle and the television ads focused on emotional benefits. Key Customer MarketsKey Customer MarketsConsumer Markets)usiness Markets!lobal Markets*onprofit+ !overnment MarketsTheautomobilemetamarketconsistsof automobilemanufacturers,newand usedcardealers,fnancingcompanies, insurancecompanies,mechanics,spare partsdealers,serviceshops,auto magazines,classifedautoadsin newspapers,andautositesonthe Internet. , "imple Marketing "ystemThe marketplace isnt hat it used The marketplace isnt hat it used to be!The realities areto be!The realities are(nformation technology(nformation technology!lobalization!lobalizationDeregulationDeregulation&rivatization&rivatizationCompetitionCompetitionConvergenceConvergenceConsumer resistanceConsumer resistance-etail transformation-etail transformation"e Consumer Capabilities"e Consumer CapabilitiesA substantial increase in buying powerA substantial increase in buying powerA greater variety of available goods and A greater variety of available goods and servicesservicesA great amount of information about A great amount of information about practically anythingpractically anythingGreater ease in interacting and placing Greater ease in interacting and placing and receiving ordersand receiving ordersAn ability to compare notes on An ability to compare notes on products and servicesproducts and servicesAn amplified voice to influence public An amplified voice to influence public opinionopinion"tructure of .lows in a Modern #%change #conomyCompany #rientations Company #rientations $Philosophies%$Philosophies%&roduction"elling Marketing&roductProduction concept, which is based on the fact that consumersfavorproductsthatareavailableand afordable.Concentrationonproductionecienc! andefectivedistributionnetworksoutweighthe customer"sactualneedsandwants.Thisisused primaril! when demand e#ceeds suppl! and the focus isonfndingproductionmethodsthatcanbringthe price down to attract more customers.Productconcept,whichisbasedonwa!sto improvethe$ualit!,performance,andfeaturesto attractbu!ers.Thisphilosoph!tendstospendtoo muchtimeaddingfeaturestotheirproducts,rather thanthinkingaboutwhatpeopleactuall!needand want.Sellingconcept,whichplacesthefocuson salesratherthanwhatpeopleactuall!need orwant.%ostofthetimetheproductis misrepresentedwhichresultsinhigh customer dissatisfaction.Marketingconcept,whichfocusesonwhat people need and want more than the needs of theseller.Thisconceptisaboutthe importance of satisf!ing the customer"s needs toachievecompan!success.&roductsare developed around those needs and wants./olistic Marketing DimensionsHolistic Marketing0(t is based on the development, design, and implementationofmarketingprograms, processes,andactivitiesthatrecognizes their breadth and interdependencies.0(t is an approach that attempts to recognize and reconcile the scope and comple%ities of marketing activities,-elationship Marketing0Customers0#mployees0Marketingpartners1channels,suppliers, distributors, dealers, agencies20Membersoffinancialcommunity 1shareholders, investors, analysts2(ntegrated Marketing34he .our &5sInternal MarketingInternal MarketingInternalmarketingInternalmarketingisthetaskof isthetaskof hiring,training,andmotivatingable hiring,training,andmotivatingable employeeswhowanttoserve employeeswhowanttoserve customers well. customers well. Performance Marketing Performance Marketing Financial AccountabilityFinancial AccountabilitySocialResponsibilityMarketingSocietal SocialResponsibilityMarketingSocietal marketingconcept!e.g."#introduced marketingconcept!e.g."#introduced recyclable computers and printers$recyclable computers and printers$