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MMaarke

rketing

ting Mana

Managgememenentt

eting foforr ththee

Markketing

ning Mar

Firsstt CCeent

Defiining

TwTwenenty­

ty­Fir

ntur

uryy

Def

ThThee CChar

harter

tereded IInnsti

stittuutete of

of

MMaarkrkeetitingng

‘Marketing is

the

management

process that identifies, anticipates

and satisfies customer requirements

profitably’

AAdcdcocockk etet al

al

The right product, in the right place, at

the right time, and at the right price’

KKotl

otleerr 19198080

Marketing

is

the

human

activity

directed at satisfying human needs

and wants

process’

through an exchange

Kotle

Kotlerr 1991

1991

‘‘Marketing is a social and managerial

process by which individuals and

groups obtain what they want and

need through creating, offering and

exchanging products of value with

others’

ObObjejeccttiives

ves

Understand the new economy.

Learn the tasks of marketing.

Become familiar with the major

concepts and tools of marketing.

Understand

the

orientations

exhibited by companies.

ObObjejeccttiives

ves

Learn how companies and marketers are responding to new challenges.

TThhee NNewew Eco

Econonomy

my

Consumer benefits from the digital revolution include:

Increased buying power. Greater variety of goods and services. Increased information. Enhanced shopping convenience. Greater opportunities to compare product information with others.

TThhee NNewew Eco

Econonomy

my

Firm benefits from the digital

revolution include:

New promotional medium. Access to richer research data. Enhanced employee and customer communication. Ability to customize promotions.

Challenges of Today’s Organization Change Bigness Govt. Interference Comp e tition Organization Divers ifi c ati
Challenges of Today’s Organization
Change
Bigness
Govt.
Interference
Comp e tition
Organization
Divers ifi c ati on
Information
Globalization
Science & Tech

Wh

Whatat CCanan BeBe Mar

Marketed?

keted?

Goods

Services

Experiences

Events

Persons

Places

Properties

Organizations

Information

Ideas

PProd

roducuctt

Goods Goods Producuctt Prod Events Events PPlaces SSerervviciceess IdIdeas InInffoormation PPerso EExperien ersonsns xperiences ces PProp

Goods

Goods

Producuctt Prod Events Events
Producuctt
Prod
Events
Events

PPlaces

laces

SSerervviciceess

IdIdeas

eas

InInffoormation

rmation

PPerso

EExperien

ersonsns

xperiences

ces

PProp

ropererties

ties

OOrgan

rganizizat

atioionnss

Goods Goods Producuctt Prod Events Events PPlaces SSerervviciceess IdIdeas InInffoormation PPerso EExperien ersonsns xperiences ces PProp

Marke

Ma

rketing

ting DDeeffinineded

Kotler’s Social Definition:

“Marketing is a societal process by

which individuals and groups obtain

what they need and want through

creating, offering, and freely

exchanging products and services

of value with others.”

Marke

Ma

rketing

ting DDeeffinineded

The AMA Managerial Definition:

“Marketing is 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.”

Core Marke

Core

Marketing

ting CoConcncepeptsts

Target markets and market segmentation Marketplace, market- space, metamarkets Marketers & prospects Needs, wants, demands Product offering and brand Value and satisfaction

Exchange and transactions Relationship and networks Marketing channels Supply chain Competition Marketing environment Marketing program

Core Marke

Core

Marketing

ting CoConcncepeptsts

Target markets & segmentation

Differences

in

needs,

behavior,

demographics or psychographics are used to identify segments.

The

segment

served

by

the

firm is

called the target market.

The market offering is customized to the needs of the target market.

Core Marke

Core

Marketing

ting CoConcncepeptsts

Needs describe basic human requirements such as food, air, water, clothing, shelter, recreation, education, and entertainment.

Needs

become

wants

when

they

are

directed

specific

to

objects

might

that

satisfy the need. (Fast food)

Demands are wants for specific products backed by an ability to pay.

Core Marke

Core

Marketing

ting CoConcncepeptsts

A Product is any offering that can satisfy a need or want, while a brand is a specific offering from a known source.

When

offerings

satisfaction

to

successful.

deliver

value

the

buyer,

they

and

are

EEnha

nhancin

ncingg VaValue

lue

Marketers can enhance the value of an offering to the customer by:

Raising benefits.

Reducing costs.

Raising benefits while lowering costs.

Raising benefits by more than the increase

in costs.

Lowering benefits by less than the reduction

in costs.

Core Marke

Core

Marketing

ting CoConcncepeptsts

Exchange involves obtaining a desired product from someone by offering something in return. Five conditions must be satisfied for exchange to occur.

Transaction

things

of

involves

value,

at

least

two

agreed-upon

conditions, a time of agreement, and a

place of agreement.

Core Marke

Core

Marketing

ting CoConcncepeptsts

Relationship

marketing

aims

to

build

long-term

mutually

satisfying

relations

with

key

parties, which ultimately results in

marketing

between

network

the

company

and

stakeholders.

its supporting

Core Marke

Core

Marketing

ting CoConcncepeptsts

 

Marketing

 

Deliver messages to

Channels

and

receive

messages

from

Communication

target buyers.

channels

Includes

traditional

media,

non-verbal

Distribution

channels

communication, and

store atmospherics.

Service channels

 

Core Marke

Core

Marketing

ting CoConcncepeptsts

Marketing

 

Display or deliver

Channels

the

physical

products

or

Communication

services

to

the

channels

buyer / user.

Distribution

 

channels

Service channels

Core Marke

Core

Marketing

ting CoConcncepeptsts

 
     

out

Marketing

Channels

Carry transactions

with

potential buyers by

facilitating

the

Communication

channels

transaction.

Distribution

channels

Service channels

 

Core Marke

Core

Marketing

ting CoConcncepeptsts

A supply chain stretches from raw

materials

products

buyers.

to

components

to

final

that are

carried to final

Each

company

captures

only a

certain percentage of the total value

generated by the supply chain.

Marke

Ma

rketing

ting Mix

Mix

The marketing program is developed to

achieve

the

company’s

objectives.

Marketing mix decisions include:

Product: provides customer solution.

Price: represents the customer’s cost.

Place: customer convenience is key.

Promotion: communicates with customer.

Marke

Ma

rketing

ting Mix

Mix

Mkt Mixx Mkt Mi
Mkt
Mixx
Mkt Mi
PProduct roduct
PProduct
roduct
ricece PPri
ricece
PPri
PPllace menntt aceme
PPllace
menntt
aceme
romottion PPromo ion
romottion
PPromo
ion

Marke

Ma

rketing

ting Mix

Mix

Product

Product Variety Quality Design Features Brand Name Packaging Sizes Services Warranties Returns

Price

Promotion

Place

List Price

Sales Promotion

Channels

Discounts

Advertising

Coverage

Allowances

Sales Force

Assortments

Payment Period

Public Relations

Locations

Publicity

Inventory

Transport

CComompetin

petingg MMark

arketin

etingg

CCononcept

ceptss

The orientation or philosophy of the firm typically guides marketing efforts. Several competing orientations exist:

Production concept

Product concept

Selling concept

Marketing concept

Societal marketing concept

Competing Marketing

Concepts

PProdu

roducti

ctionon CCononcecept

pt

Produc

Pro

ductt CCononcecept

pt

P P rodu C C on on ce ce pt Pro C C on on ce
P P rodu C C on on ce ce pt Pro C C on on ce

MMaarke rketitinngg

P P rodu C C on on ce ce pt Pro C C on on ce

CCononcecepts pts

SSel

ellling

ing CCononcecept

pt

SSociet ocietal al ketiningg MMararket
SSociet
ocietal
al
ketiningg
MMararket

MMararket

ketiningg

Con

Concept

cept

The

The Ma

Marke

rketing

ting CCoonce

ncepptt

Achieving organizational goals requires that company be more effective than competitors in creating, delivering, and communicating customer value. Four pillars of the marketing concept:

Target market

Customer needs

Integrated marketing

Profitability

CChhang

angeess inin the

the Marke

Marketptplac

lacee

Globalization,

technological

advances,

and

deregulation

challenges:

have

created

many

Customers

Brand manufacturers

Store-based retailers

Both

companies

and

marketers

have

been forced to respond and adjust.

LLeevevelsls of

of Comp

Compeetitio

titionn

Four

levels

distinguished

of

by

substitutability:

competition

the

level

of

can

be

product

Brand competition Industry competition Form competition Generic competition

LLeevevelsls of

of Comp

Compeetitio

titionn

Competition Competition Generic Brand Brand Gen eric InInddustr FFoorrmm
Competition Competition Generic Brand Brand Gen eric
Competition
Competition
Generic
Brand
Brand
Gen
eric

ustryy

InInddustr

FFoorrmm

Competition Competition Generic Brand Brand Gen eric InInddustr FFoorrmm

Marke

Ma

rketing

ting EnEnvviironm

ronmenentt

Task Environment

Broad Environment

OOrga

rganiz

nizaation’s

tion’s EEnviro

nvironme

nment

nt

Macro or Far Environment Near or Operating Environment Economic Technological Factors Factors Partners Customers ORGANIZATION Clients
Macro or Far Environment
Near or Operating
Environment
Economic
Technological
Factors
Factors
Partners
Customers
ORGANIZATION
Clients
Suppliers
Political
Social
Competitors
Factors
Factors

Task EnEnvviironm

Task

ronmeent

nt

Company

Suppliers

Distributors

Dealers

Target Customers

Competitors

Broad MMark

Broad

arketin

etingg EEnvnviroironmnment

ent

The

following

forces

in

the

Broad

Environment have a major impact on the Task Environment:

Demographics

Economics

Natural environment

Technological environment

Political-legal environment

Social-cultural environment

DDememograp

ographi

hicc EEnvnviron

ironmen

mentt

Population Age Mix

Population Growth

Ethnic Group

Education Status

Household Patterns

EEcon

conomomicic EEnnvir

vironm

onment

ent

Income Distribution

Subsistence Economies

Raw Material Exporting Economies

Industrializing Economies

Industrialized Economies

Savings, Debt and Credit Availability

Natural

Natu

ral EEnvnviron

ironmen

mentt

Shortage of Raw Materials

Increased Energy Costs

Increased Pollution Levels

Changing Role of Government

TTech

echnnolog

ological

ical EEnnviro

vironmnment

ent

Accelerating Technological Change Innovation Opportunities Varying R&D Budgets Regulations of Technological Change

Politicicaall-L-Leeggal

Polit

al EEnvnviron

ironmen

mentt

Legislation Regulating Business

Growth of Special Interest Groups

Social-C

Soc

ial-Cult

ultural

ural EEnnviro

vironmnment

ent

Beliefs

Values

Norms

Subculture

SWSWOTOT AnAnaly

alysis

sis

Strengths (Internal)

Weaknesses (Internal)

Opportunities (External)

Threats (External)

SWO

SWO

SWSWOTOTTT Ana

AnAna

Analy

alylysis

sis

lysis

sis

SW SW OT OT TT An Ana sis

CConontents

tents of

of the

the MMark

arketin

etingg

Plan

Plan

– Executive – Current Marketing Situation – Opportunity and issue analysis – Objectives – Marketing strategy

Executive Summary Current Marketing Situation Opportunity and issue analysis Objectives Marketing strategy Action programs Financial projections Implementation controls

MMark

arketin

etingg Str

Strategy

ategy

Segmentation Positioning Product Management Pricing Distribution Marketing Communications Marketing Research

 Segmentation  Positioning  Product Management  Pricing  Distribution  Marketing Communications  Marketing

MMark

arketet Segm

Segmenta

entation

tion

Market Segment

It consist of a large identifiable group within a market with similar wants purchasing power, geographical location and buying attitudes or habits

LLevels

evels of

of SeSeggmen

mentati

tationon

Niche Marketing

Local Marketing

Individual Marketing

PaPatterns

tterns of

of Ma

Market

rket

Segm

Segment

entaattion

ion

Homogeneous Preferences

Diffused Preferences

Clustered Preferences

MMark

arketet Segm

Segmenta

entation

tion

Procedu

Proc

edurere

Survey Stage

Analysis Stage

Profiling Stage

Bases foforr Segmen

Bases

Segmentintingg MMark

arketet

Geographic

Demographic

Psychographics

Behavioral

CChharac

aractteri

eriststics

ics ooff EEffect

ffective

ive

Segm

Segment

entaattion

ion

Measurable

Substantial

Accessible

Differentiable

Actionable

Produ

Pr

oductct PoPositi

sitiononing

ing

It

is

the

act

designing

of

the

company’s offering and image

to

occupy a distinctive place

in

the

target market

Major

Ma

jor PPoossitio

itioning

ning Erro

Errorsrs

Under positioning

Over positioning

Confused positioning

Doubtful positioning

DDififffeererentia

ntiation

tion

It is the act of designing a set of

meaningful

distinguish

offering

offerings

differences

to

the

from

company’s

competitor’s

DDimimenenssioions/

ns/BBaasis

sis of

of

DDififffeererentia

ntiation

tion

Product

Services

Personnel

Channel

Image

BBasis

asis ooff DDiiffffeererentia

ntiation

tion

CChahanne SeServrviiccee IImmaagege rsonnenell PePerson roduct PProd nnell uct
CChahanne
SeServrviiccee
IImmaagege
rsonnenell
PePerson
roduct
PProd
nnell
uct

PProroduductct DDififffeererentia

ntiation

tion

Form

Features

Performance

Conformance

Durability

Reliability

Repair ability

Style & Design

PProroduductct DDififffeererentia

ntiation

tion

Form Features Performance Product Product Conformance Style & Reliability Design
Form
Features
Performance
Product
Product
Conformance
Style &
Reliability
Design

SeServic

rvicee DDififffeererenti

ntiatio

ationn

Ordering Ease Delivery Installation Customer Training Customer Consulting Maintenance and Repair Miscellaneous

Servicece DDifferenti

Servi

ifferentiation

ation

Ordering Delivery Ease Customer Customer Se rvi ce Servi ce Training Consultation Warrantee/ Miscellaneous Guarantee
Ordering
Delivery
Ease
Customer
Customer
Se rvi ce
Servi ce
Training
Consultation
Warrantee/
Miscellaneous
Guarantee

PPeersonn

rsonnel

el DDififffeererenti

ntiatio

ationn

Competence

Courtesy

Credibility

Reliability

Responsiveness

Communication

PPeerrson

sonnneell DDifferen

ifferentiati

tiationon

PPeersonn

rsonnel

el DDififffeererenti

ntiatio

ationn

Competence Courtesy Credibility Personnel Personnel Reliability Responsiveness Communication
Competence
Courtesy
Credibility
Personnel
Personnel
Reliability
Responsiveness
Communication

Cha

Channe

nnell DDififffeeren

rentiat

tiation

ion

Coverage

Expertise

Performance

Cha

Channe

nnell DDififffeererentia

ntiation

tion

Channnneell Cha
Channnneell
Cha
Coveerage rage Cov
Coveerage
rage
Cov
EExxppeertise rtise
EExxppeertise
rtise
PPererffoorrmmaancncee
PPererffoorrmmaancncee

Imagege DDififffeererentia

Ima

ntiatiotionn

Symbols

Media

Atmosphere

Events

Ima

Imaggee DDififffeererentia

ntiatiotionn

IImmaaggee
IImmaaggee
SySymmbobolsls
SySymmbobolsls
Media Media
Media
Media
Atmospheerere Atmosph
Atmospheerere
Atmosph
EEvents vents
EEvents
vents

Criteriaria fforor WWorth

Crite

orthfful

ul

DDififffeererentia

ntiatiotionn

Important Distinctive Superior Communicable Pre-emptive Affordable Profitable

Prododuct

Pr

uct

A product is anything that can

be

offered to a market to satisfy a want

or need. It include goods, services,

experiences, events, persons,

places, properties, organizations,

information and Ideas.

PProd

roducuctt LLififee CyCycclele

Introduction

Growth

Maturity

Decline

PProd

roducuctt LLeevel

velss

Core Benefit

Basic Product

Expected Product

Augmented Product

Potential Product

PProd

roducuctt HHieierararch

rchyy

Need Family Product Family Product Class Product Line Product Type Brand Name Item

Prododuct

Pr

uct Cla

Classsif

sificicati

ations

ons

Durability and Tangibility

Consumer Goods

Industrial Goods

DDura

urabil

bilityity aandnd TaTangngibi

ibility

lity

Non-durable goods

Durable goods

Services

Consumerr GoGoododss

Consume

Classssififica

Cla

icatiotionn

Convenience goods

Shopping goods

Specialty goods

Unsought goods

InIndustria

dustriall Goo

Goodsds

Classssififica

Cla

icatiotionn

Materials and Parts

Capital Items

Supplies and Business Services

PProd

roducuctt Mix

Mix

It is the set of all products and items that a particular seller offers for sale. A product mix has its

Width

Length

Depth

Consistency

PProroduductct Li

Linene DDeeccisions

isions

Line Stretching

Down-market Stretching

Up-market Stretching

Two-Way Stretching

Line Filling Line Modernization Line Featuring & Line Pruning

BBrrand

anding

ing

Brand

It is a name, term, sign, symbol,

design, or

a

combination

of

them, intended

to

identify

the

goods or services of one seller

and to differentiate them from

competitors

Meaaning

Me

ningss Conve

Conveyeyedd byby

BBrarandnd

Attributes

Benefits

Values

Culture

Personality

User

AAddvan

vantag

tageess of

of BBrarandnding

ing

Easy Selling

Legal Protection

Customer Loyalty

Easy Market Segmentation

Image Building

BBrarandnd SpSponsor

onsor DDeeci cissioionn

Manufacturer Brand

Distributor Brand

Licensed Brand

BBrarandnd NaName

me DDeeci cissioionn

Individual Name

Blanket Family Name

Separate Family Names for

products

all

Company Trade Name combined

with Individual Product Names

BBrarandnd Stra

Stratetegygy DDececisio

isionn

Line Extension

Brand Extension

Multi-brands

New Brand

Co-brands

PPaacka

ckagin

gingg

It includes

the

activities

of

designing and producing the

container for a product

LLeevveelsls of

of PaPacckag

kaging

ing

Primary

Secondary

Shipping

AdAdvanta

vantaggeses of

of PPacackag

kaging

ing

Self Service

Consumer Affluence

Company and brand image

Innovation Opportunity

LLababeelinlingg

It may be a simple tag attached

to the product or an elaborately

designed graphic that is part of

the package

Function

Func

tionss of

of LLababeell

Identification

Grading

Description

Promotion

SeServic

rvicee

It is any act or performance that

one party can offer to another

that is essentially intangible and

does not result in the ownership

of anything. Its production may

or may not be tied to a physical

product.

CaCatteeggorie

oriess of

of SSeervic

rvicee Mi

Mixx

Pure Tangible Good

Tangible Good with Accompanying Service

Hybrid Major

Service

with

Minor Goods Pure Service

Accompanying

Cha

Chararacte

cteristic

risticss ooff SeServic

rviceses

Intangibility

Inseparability

Variability

Perishability

Elem

Element

ents/To

s/Tools

ols of

of Serv

Service

ice

MMark

arketin

etingg ApApproa

proachch

Product Price Promotion Placement People Physical Evidence Process

MMaarrket

keting

ing Strategy

Strategy for

for Serv

Service

ice

Fi

Firms

rms

External Marketing

Internal Marketing

Interactive Marketing

Taskkss of

Tas

of SeSerrvic

vicee CComompan

panies

ies

Managing Differentiation

Offer

Delivery

Image

Service Quality

Productivity

DDeeterm

termininant

antss of

of QuQuality

ality

Reliability

Responsiveness

Assurance

Empathy

Tangibles

CComommmonon FFeatur

eatureess of

of Exc

Excellent

ellent

Servicicee CCoomp

Serv

mpanies

anies

Strategic Concept

Top Management Commitment

High Standards

Monitoring Systems

Satisfying Customer Complaints

Employees Satisfaction

DDeessign

igniningg TThehe Pric

Priciningg

Strategies

St

rategies

Pricing Objectives

Pricing Method

Promotional Pricing

Discriminatory Pricing

Product Mix Pricing

Settingng Pric

Setti

Pricing

ing ObObjejecctitiveve

Survival

Maximum Current Profit

Maximum Market Share

Maximum Market Skimming

Product Quality Leadership

Selecting

Select

ing aa Pric

Pricing

ing Meth

Methodod

Markup Pricing Target Return Pricing Perceived Value Pricing Value Pricing Going-rate Pricing Sealed Bid Pricing Psychological Pricing

Price

Pr

ice DDisc

iscouounts

nts and

and

AAllow

llowanc

anceses

Cash Discounts

Quantity Discounts

Functional/Trade Discounts

Seasonal Discounts

Allowances

Promototion

Prom

ionaall PPric

riciningg

Loss-Leader Pricing Special Event Pricing Cash Rebates Low Interest Financing Longer Payment Terms Warranties and Service Contracts Psychological Discounting

DDisiscr