Marketing Management Session 1

uenlng Markeung for Lhe 21
sL
CenLury
CopyrlghL 2012 earson Lducauon, lnc. ubllshlng as renuce Pall Sllde 2 of 23
Charlsmauc polluclan + message of hope+
lnLegraLed modern markeung program
used onllne and oMlne medla
lacebook, ?ou1ube, and 1wluer were cruclal
owerful Lool: 13.3 mllllon e-mall llsL
$300 mllllon ralsed from 3 mllllon donors
33,000 groups organlzed
And Lhe elecuon of Lhe nexL resldenL of Lhe
unlLed SLaLes
Cbama for Amerlca
Markeung
Good markenng |s no acc|dent, but a
resu|t of carefu| p|ann|ng and execunon
us|ng state-of-the-art too|s and
techn|ques.
Markeung
- Pelped lnLroduce and galn
accepLance of new producLs LhaL have
enrlched people's llves
- lnsplre enhancemenLs ln exlsung
producLs ln lnnovauons Lo lmprove
Lhelr posluon ln Lhe markeL
Markeung
uemand
8evenue
!obs
roLs
Clvlng
Markenng
- meeung needs proLably.
Markenng ls Lhe acuvlLy, seL of
lnsuLuuons, and processes for
creaung, communlcaung, dellverlng,
and exchanglng oers LhaL have
value for cusLomers, cllenLs, parLners,
and socleLy aL large.
Markenng management ls Lhe arL
and sclence of chooslng LargeL
markeLs and gemng, keeplng, and
growlng cusLomers Lhrough
creaung, dellverlng, and
communlcaung superlor
cusLomer value.
Markenng
- noL only Lhe arL of selllng
producLs" buL Lo know and
undersLand Lhe cusLomer so well LhaL
Lhe producL or servlce Ls hlm and
sells lLself.
Lxperlences
ulsney World, Crulses
LvenLs
Clymplcs, Super 8owl
roperues
8eal esLaLe, SLocks and 8onds
WhaL ls MarkeLed?
ersons
Coods
Crganlzauons
unlverslues, museums
lnformauon
8ooks, schools, unlverslues
ldeas
WhaL ls MarkeLed?
laces
Servlces
Who markeLs?
MarkeLer
rospecL
Auenuon
urchase
uonauon
voLe
kesponse
MarkeLers are skllled aL sumulaung demands for
Lhelr producLs. 1hey seek Lo lnuence Lhe
level, umlng, and composluon of demand Lo
meeL Lhe organlzauon's ob[ecuves.
1ypes of uemand
negauve
nonexlsLenL
LaLenL
lull
Cverfull
uecllnlng unwholesome
lrregular
negauve demand
Consumers dlsllke Lhe producL and may even pay Lo
avold lL. e.g. vacclnauon, uenLal Work, Alcohollcs
Markeung Lask: ana|yze why Lhe markeL dlsllkes Lhe
producL
nonexlsLenL demand
Consumers may be unaware of or unlnLeresLed ln Lhe
producL. e.g. farmers may noL be lnLeresLed ln new
farmlng meLhods, college sLudenLs noL lnLeresLed for
a forelgn language course.
Markeung Lask: nd ways Lo connecL Lhe benehts Lo
Lhe person's naLural needs and lnLeresLs
SLaLe of uemands
LaLenL demand
Consumers may share a sLrong need LhaL cannoL be
saused by an exlsung producL. e.g. laLenL demand
for harmless clgareues, more fuel emclenL cars
Markeung Lask: measure Lhe slze of Lhe poLenual
markeL and develop eecuve goods and servlces
uecllnlng demand
Consumers begln Lo buy Lhe producL less frequenLly
or noL aL all. e.g. 8oy ScouL enrollmenL
Markeung Lask: analyze Lhe cause, deLermlne lf lL can
be re-sumulaLed, reverse Lhrough creauve markeung
SLaLe of uemands
lrregular demand
Consumers purchases vary on a seasonal, monLhly,
weekly, dally or even hourly basls. e.g. malls - vlslLed
on weekends, noL on weekdays
Markeung Lask: alLer prlclng, promouon and oLher
lncenuves
lull demand
Consumers are adequaLely buylng all producLs puL
lnLo Lhe markeLplace. e.g.
Markeung Lask: malnLaln currenL level of demand,
quallLy should be lmproved, measure sausfacuon
SLaLe of uemands
Cverfull demand
uemand ls hlgher Lhan Lhey can or wanL Lo handle
Markeung Lask: ralse prlces, reduce promouons and
servlces
unwholesome demand
Consumers may be auracLed Lo producLs LhaL have
undeslrable soclal consequences. e.g. clgareues,
alcohol, handguns and plraLed movles
Markeung Lask: un-selllng campalgns
SLaLe of uemands
MarkeLs
A collecuon of buyers and sellers who
LransacL over a parucular producL or
producL class.
MarkeLs
Slmple Markeung SysLem
key CusLomer MarkeLs
Clobal MarkeLs
8uslness MarkeLs
Selllng buslness goods and
servlces
CovernmenL MarkeL
Consumer MarkeL
Selllng mass consumer
goods and servlces
MarkeLs
MarkeLplaces
MarkeLspaces
MeLamarkeLs
MarkeLs
MarkeLplaces - physlcal
locauons
MarkeLspaces -
dlglLal locauon
MeLamarkeLs - clusLer of
compllmenLary producLs
and servlces
Core Markeung ConcepLs
needs, WanLs, and uemands
1argeL MarkeLs, osluonlng,
and SegmenLauon
Cerlngs and 8rands
value and Sausfacuon
needs vs WanLs vs uemands
needs - baslc human requlremenLs llke alr, food, waLer, eLc.
WanLs - speclc ob[ecLs LhaL mlghL sausfy Lhe need
uemands - wanLs for speclc producLs backed by an ablllLy
Lo pay, e.g. lhone
MarkeLers do noL creaLe needs: needs preexlsL markeLers!
1hey lnsLead lnuence wanLs (LogeLher wlLh socleLal
facLors)
3 Lypes of needs
1. SLaLed needs (Lhe cusLomer wanLs an lnexpenslve
car)
2. 8eal needs (Lhe cusLomer wanLs a car whose
operaung cosL, noL lnlual prlce, ls low.)
3. unsLaLed needs (Lhe cusLomer expecLs good servlce
from Lhe dealer)
4. uellghL needs (Lhe cusLomer would llke Lhe dealer Lo
lnclude an onboard CS navlgauon sysLem)
3. SecreL needs (Lhe cusLomer wanLs frlends Lo see hlm
or her as a savvy consumer)
SegmenLauon vs 1argeL MarkeLs vs
osluonlng
SegmenLs - dlvldlng Lhe markeL
1argeL markeLs - opporLunlues
osluonlng ln Lhe mlnds of Lhe LargeL buyers
Cerlngs and 8rands
Cerlngs - comblnauon of producLs,
servlces, lnformauon, and experlences
8rand - oerlng from a known source
value and Sausfacuon
value - sum of Lhe Langlble and lnLanglble
beneLs and cosL
Sausfacuon - person's [udgmenL of a
producL's percelved performance ln
relauonshlp Lo expecLauons.
Core Markeung ConcepLs
Markeung Channels
Compeuuon
Markeung LnvlronmenL
Supply Chaln
Markeung Channels
3 klnds:
1. Communlcauon Channels -
newspapers, radlo, eLc
2. ulsLrlbuuon Channels -
lnLerneL, mall, moblle phone,
dlsLrlbuLors, reLallers, eLc
3. Servlce Channels -
warehouses, banks, lnsurance
companles, eLc.
Supply Chaln
Compeuuon
Markeung LnvlronmenL
1ask LnvlronmenL - acLors engaged ln
produclng, dlsLrlbuung, and promoung Lhe
oerlng, e.g. suppllers, dlsLrlbuLors, dealers.
8road LnvlronmenL
- demographlc
- economlc
- soclo-culLural
- naLural
- Lechnologlcal
- pollucal-legal
1he new Markeung 8eallues
new Company
Capablllues
Ma[or SocleLal
lorces
lnformauon
1echnology
Cloballzauon
lncreased
Compeuuon
Consumer
lnformauon
CommunlcaLe
w/CusLomer
CollecL
lnformauon
ulerenuaLe
Coods
Who ls 8esponslble for Markeung?
Chlef Markeung Cmcer
(CMC)
Lnure Crganlzauon
Markeung ueparLmenL
Pollsuc Markeung
Markeung ConcepLs
Selllng roducL roducuon
Mass producuon
Mass dlsLrlbuuon
CuallLy
lnnovauon
unsoughL goods
CvercapaclLy
CreaLe, dellver, and
communlcaLe value
roducuon - consumers prefer producLs LhaL
are wldely avallable and lnexpenslve
roducL - consumers favor producLs oerlng
Lhe mosL quallLy, performance, or lnnovauve
feaLures
Selllng - consumers and buslness, lf le alone,
won'L buy enough of Lhe organlzauon's
producLs
Markeung ConcepLs
Markeung - noL nd Lhe rlghL cusLomers for
your producL, buL Lhe rlghL producLs for your
cusLomers
Pollsuc - developmenL, deslgn and
lmplemenLauon of markeung programs,
processes, and acuvlues LhaL recognlze Lhelr
breadLh and lnLerdependencles. LveryLhlng
mauers ln markeung
Markeung ConcepLs
Pollsuc Markeung ulmenslons
8elauonshlp Markeung
8ulld long-Lerm relauonshlps
uevelop markeung neLworks
lnLegraLed Markeung
CreaLe, communlcaLe, and
dellver cusLomer value
lnLernal Markeung
erformance Markeung
Soclal 8esponslblllLy
llnanclal AccounLablllLy
1he lour 's of Lhe Markeung Mlx
ueveloplng markeL sLraLegles and plans
CapLurlng markeung lnslghLs
Connecung wlLh cusLomers
8ulldlng sLrong brands
Shaplng markeL oerlngs
uellverlng value
Communlcaung value
Creaung long-Lerm growLh
Markeung ManagemenL 1asks

Marketing Management Session 1

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uenlng Markeung for Lhe 21

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