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BM5 Reviewer

Session 1

1. Marketing – satisfying needs, wants and aspirations of individual and


organizations
2. Marketing Management – planning, execution and promotion of products
or services
3. Need – state of felt deprivation
4. Want –desire for specific satisfier
5. Demand – want w/ willingness to purchase
6. Product – anything that satisfies needs or wants
7. Value- capacity to satisfy a need
8. Cost – price
9. Exchange – process of obtaining a need by offering something in return
10.Marketing – integrating function of all divisions of firm

Orientation – Book
1. Production Low cost, wide distribution, FMCG
2. Selling Quality, performance
3. Product Aggressive selling, quick results
4. Marketing Needs, wants, research based
5. Societal Preserve society

Orientation – Prof.
1. Production Readily available matls./mass
producible
2. Selling Quality, performance
3. Product Aggressive selling, quick results
4. Marketing Needs, wants, research based
5. Finance Low cost
6. Logistics Readily available

Session II

Strategic Planning – maintain a viable fit between company, product and market

Levels:

1. Corporate planning - highest


2. Divisional
3. Business
4. Product
Activities

1. Define Company Mission.


2. Identify company’s strategic business units.
3. Allocating resources.
4. Expansion and filling the planning gap.

Strategic planning

1. Mission - Main purpose of being


2. Vision - Where it wants to go
3. Policies - To consumer, employees, shareholders, etc.

Portfolio evaluation

1. SBU identification
2. BCF
3. GE

Competitive scope
1. Industry
2. Market-segment
3. Vertical scope (Integration)
4. Geographical

Business strategic planning steps

1. Business Mission
2. External/Internal Analysis-SWOT
3. Goal formulation
4. Strategy formulation
5. Program formulation
6. Implementation
7. Feedback and control

Objective setting

1. S – specific
2. M – measurable
3. A – attainable
4. R – realistic
5. T – time bound
6. S – sustainable
Session III

Marketing planning – consists of analyzing market opportunities, researching


and selecting target markets, formulating strategies, planning marketing
programs, organizing, implementing and controlling

Steps (memorize)
1. Analysis
2. Research
3. Strategy
4. Plan
5. Organize
6. Implement
7. Control

Marketing Plan Contents (memorize)

1. Executive summary
2. Current marketing situation
3. SWOT
4. Objectives
5. Marketing strategy
6. Action Programs
7. Profit & Loss statements
8. Controls

Session IV

Market Information system - Consist of people, equipment, and procedures to


gather, sort, analyze, evaluate, and distribute needed, timely, and accurate
information to marketing decision makers

Market intelligence - Set of procedures and sources used by managers to


obtain their everyday information about pertinent developments in the
marketing environment

Market research - Systematic design, collection, analysis, and reporting of


data and findings relevant to a specific marketing situation facing the
company
Types of research

1. Exploratory - preliminary, define problem or spot opportunity


2. Descriptive - answers who, why, what and how
3. Causal - cause and effect, relationships

Steps (memorize)

1. Establish need
2. Define the problem
3. Establish objective
4. Determine design
5. Determine methods of accessing data
6. Design data collection forms
7. Determine sample size and plan
8. Collect data
9. Analyze data
10.Present final report

Session V

Marketing environment

Analysis (memorize all)

1. Internal
a. Men
b. Money
c. Machine
d. Materials
e. Minutes

2. External
a. SWOT – relative to external microenvironment

b. PEST – relative to external macro-environment


1. Political – stability, regulation, trade
2. Economic – interest rate, inflation, GDP
3. Socio-cultural – religion, demographics
4. Technology – products, distribution, obsolescence,
internet
c. Five Forces – more for SBU
1. Threat of entry
2. Threat of substitutes
3. Power of suppliers
4. Power of buyers
5. Competitive rivalry

Objective setting
1. Specific
2. Measurable
3. Attainable
4. Realistic
5. Time-bound
6. Sustainable

STRATEGY/Positioning

1. Ansoff’s
2. BCG
3. Product positioning grid
4. Product/ market grid
5. Porter’s generic strategies
a. Cost leadership
b. Differentiation
c. Focus
TACTICS
1. Product – individual, bundle, bulk
2. Price – cost plus, skim, market, penetration
3. Place – direct, agents, distributors
4. Promotion – ads, media mix, publicity
CONTROLS
1. Costs
2. Budgets
3. Sales
4. Market share

FEEDBACK
1. Customer satisfaction
2. Customer service
3. Service complaints
4. Market research
5. Product re-engineering

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