marketing

Dening marketing

Questions
Why is marketing important? What is the scope of marketing? What are some fundamental marketing
concepts?

How has marketing management changed? What are the tasks necessary for successful
marketing management?

Finance, operations, accounting and other business functions will not really matter if there is not sufcient demand for products and services.

marketers frequently asked questions

1. How can we spot and choose the right market
segments? 2. How can we differentiate our offerings? 3. How should we respond to customers who buy on price? 4. How can we compete against lower-cost, lower-price competitors? 5. How far can we go in customising our offering for each customer? 6. How can we grow our business? 7. How can we build stronger brands? 8. How can we reduce the cost of customer acquisition?

9. How can we keep our customers loyal for

longer? 10. How can we tell which customers are more important? 11. How can we measure the payback from advertising, sales promotion and public relations? 12. How can we improve sales force productivity? 13. How can we esablish multiple channels and ? 14. How can we get the other company departments to be more customer-oriented.

The scope of marketing

Marketing deals with identifying and meeting human and social needs Marketing is meeting needs protably Marketing is an organisational function and set of processes for creating, communicating, and delivering value for customers and for managing customer relationships in ways that benet the organization and its stake holders (AMA)

Marketing management
the art and science of choosing target markets and getting, keeping, and growing customers trough creating, delivering, and communicating superior customer value

What is marketed?

Products

Services

Events

Experiences

People

Places

Properties

Organizations

Information

ideas

Who markets?

A marketer is someone who seeks a response (attention, a purchase, a vote, a donation) from another party.

Marketers are responsible for demand management

Demand states
1. Negative demand. 2. Nonexistent demand 3. Latent demand 4. Declining demand 5. Irregular demand 6. Full demand 7. Overfull demand

Markets

Structure of flows in a modern exchange economy

Key customer markets

Customer markets Business markets Global markets Nonprot and governmental markets

Marketplaces, marketspaces and metamarkets

Marketplace - physical place Marketspace - digital, internet place Metamarket - cluster of complementary products and services that are closely related in minds of consumers but are spread across a diverse set of industries. (Mohan Sawney)

Challenges

Changing technology

Globalization

Deregulation

Privatization

Customer empowerment

Customization

Heightened competition

Industry convergence

Retail transformation

Disintermediation

Company orientation toward the marketplace

Production concept

Product concept

The selling concept

The purpose of marketing is to sell more stuff to more people moe often for more money in order to make more profit Sergio Zyman, Coca-Cola marketingo viceprezidentas

The marketing concept

Holistic marketing concept

Marketing dep. Senior Other Management Departments Communications Products Chann els

Internal marketing

Integrated marketing

Marketing

Social marketing
Comunity Ethics Environment Legal

Relationship marketing
Customers Channel Partners

Relationship marketing

Integrated marketing
Marketing mix

Product
Product variety Quality Design Features Brand name Packaging Sizes Services Warranties

Place
Channels Coverage Assortments Place Inventory Transport

Target market

Price
Price Discount Payment period Credit terms

Promotion
Sales promotion Advertising Sales force PR Direct marketing

Internal marketing

Social marketing

Core concepts
NEEDS WANTS DEMANDS

Marketers do not create needs: Needs preexist marketers

Types of needs

Stated needs

Real needs

Unstated needs

Delight needs

Secret needs