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Marketing management
1. 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.
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2. What is Marketing Management?
Marketing management is the
art and science
of choosing target markets
and getting, keeping, and growing
customers through
creating, delivering, and communicating
superior customer value.
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3. What is Marketed?
⢠Goods (tangible) ⢠Places
(Cities, States, Regions, Nations)
⢠Services (intangible)
and Properties (Intangible
⢠Events (time basedâtrade rights of ownership of real estate or
financial properties)
shows) and Experiences
(Walt Disney Worldâs Magic ⢠Organizations
kingdom) (Universities, Museums, Performing
Arts Organization)
⢠Persons (Artists, Musicians,
CEO, Physicians) ⢠Information
(Books, Schools, Magazines)
⢠Ideas
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4. The Ten Deadly Sins of Marketing
The Ten Commandments of Marketing
⢠Ten Sins ⢠Ten Commandments
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5. Key Customer Markets
⢠Consumer markets (personal consumption)
⢠Business markets (resale or used to produce
other products or services)
⢠Global markets (international)
⢠Nonprofit/Government markets (Churches,
Universities, Charitable Organizations,
Government Agencies)
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6. Marketing Management Tasks
⢠Developing marketing ⢠Shaping market
strategies (strategic fit) offerings
⢠Capturing marketing ⢠Delivering value
insights (obtaining
information) ⢠Communicating
value
⢠Connecting with
customers (relationships) ⢠Creating long-term
⢠Building strong brands growth
(understand strengths (positioning and
and weaknesses) new-product
development)
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8. Internal Marketing
Internal marketing is the task of
hiring, training, and motivating able
employees who want to serve customers
well.
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9. Demand States
⢠Negative (dislike product ⢠Irregular (purchases vary on a
and may even pay a price to seasonal, monthly, weekly, daily,
avoid it) or even hourly basis)
⢠Nonexistent (unaware of ⢠Unwholesome (product
or uninterested in the product) that have undesirable social
consequences)
⢠Latent (need that cannot be
satisfied by existing product)
⢠Full (adequately buying all
products put into the marketplace)
⢠Declining (buy the product ⢠Overfull (more consumers
less frequently or not at all)
would like to buy the product that
can be satisfied)
1-9
10. Performance Marketing
⢠Social Initiatives
⢠Financial ⢠Corporate social marketing â
Accountabilityâbuilding supporting behavior change
campaigns
band and growing the ⢠Cause marketing âpromoting
customer base. social issues through sponsorships,
licensing agreements, and
⢠Social Responsibility advertising
Marketingâmust ⢠Corporate philanthropyâmaking
gifts, goods, or time
consider ethical
⢠Corporate community
environment, legal, and involvementâin kind or volunteer
social context on service
⢠Socially responsible business
activities. practicesâto protect environment
and human and animal rights
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12. 3 Vâs Approach to Marketing
Define the value segment
(needs and wants)
Define the value proposition
(benefits)
Define the value network to
deliver promise services.
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13. What is the Value Chain?
The value chain is a tool for identifying and
creating more customer value because every
firm is a synthesis of primary and support
activities performed to design, produce,
market, deliver, and support its product.
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14. What is Holistic Marketing?
Holistic marketing sees itself as integrating
the value exploration, value creation, and
value delivery activities with the purpose of
building long-term, mutually satisfying
relationships and prosperity among key
stakeholders.
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15. What is a Marketing Plan?
A marketing plan is the central instrument for
directing and coordinating the marketing
effort.
It operates at a strategic
and tactical level.
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16. Levels of a Marketing Plan
⢠Strategic ⢠Tactical
â Target marketing â Product features
decisions â Promotion
â Value proposition â Merchandising
â Analysis of marketing â Pricing
opportunities â Sales channels
â Service
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18. Evaluating a Marketing Plan
ďź Is the plan simple?
ďź Is the plan specific?
ďź Is the plan realistic?
ďź Is the plan complete?
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19. Good Mission Statements
⢠Focus on a limited number of goals
⢠Stress major policies and values
⢠Define major competitive spheres
⢠Take a long-term view
⢠Short, memorable, meaningful
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21. Porterâs Generic Strategies
Overall Cost Leadershipâlowest
production and distribution costs to be
able to price lower than competitors and
to obtain larger market share.
Differentiationâuniquely achieving
superior performance in an important
customer benefit area.
Focusâon one or more narrow market
segments
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23. Internal Records and
Marketing Intelligence
⢠Order-to-payment cycleâsend orders, prepares invoices,
transmit copies to various departments, and back-orders out-
of-stock items
⢠Sales information systemâtimely and accurate reports on
current sales
⢠Databases, warehousing, data mining--customer, product,
and salesperson and combine data from the different
databases.
⢠Marketing intelligence systemâa set of procedures and
sources managers use to obtain everyday information about
developments in the marketing environment.
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24. Steps to Improve Marketing Intelligence
⢠Train sales force to scan for new developments (make
intelligence gathering important to salespeople)
⢠Motivate channel members to share intelligence (hire
specialists to gather marketing intelligenceâmystery
shoppers)
⢠Network externally (purchase competitorsâ products;
attend open houses and trade shows; read competitorsâ
published reports; etc.)
⢠Utilize a customer advisory panel (representative
customers or companyâs largest customers)
⢠Utilize government data sources (U.S. Census data, etc.)
⢠Collect customer feedback online (online customer review
boards, discussion forums, chat rooms, and blogs)
⢠Purchase information (A.C. Nielsen Company and other
information sources)
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25. Needs and Trends
⢠Fadsâshort-lived and without social,
economic, and political significance.
⢠Trendsâdirection or sequence of events that
has some momentum and durability.
⢠Megatrendsâlarge social, economic, political,
and technological changes
3-25
27. What is Marketing Research?
Marketing research is the systematic design,
collection, analysis, and reporting of data and
findings relevant to a specific marketing
situation facing the company.
Copyright Š 2009 Pearson
Education, Inc. Publishing as
Prentice Hall
28. The Marketing Research Process
Define the problem
Develop research plan
Collect information
Make
decision
Analyze information
Present findings
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29. Step 1
⢠Define the problem (e.g., Will offering an in-flight Internet
service create enough incremental preference and profit
of American Airlines to justify its cost?)
⢠Specify decision alternatives (e.g., Should American offer
an Internet connection?)
⢠State research objectives (e.g., types of 1st class
passengers are likely to use internet?)
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30. Step 2
Data Research
Sources Approach
Research Sampling
Instruments Plan
Contact
Methods
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31. Research Approaches
⢠Observation--unobtrusive
⢠Ethnographic--link between culture & behavior
&/or how cultural processes develop over time
(participant observation)
⢠Focus groupâdiscuss topics of interest
⢠Surveyâknowledge, beliefs, preferences,
satisfaction
⢠Behavioral data--Dataâpurchasing data
⢠Experimentationâcause and effect relationships
Copyright Š 2009 Pearson
Education, Inc. Publishing as
Prentice Hall
33. Sampling Plan
⢠Sampling unit: Who is to be surveyed?
⢠Sample size: How many people should be
surveyed?
⢠Sampling procedure: How should the
respondents be chosen?
Copyright Š 2009 Pearson
Education, Inc. Publishing as
Prentice Hall
34. Types of Samples
Probability Non-probability
⢠Simple random
⢠Convenience
â Every member of population
has an equal chance of â Selects the most accessible
selection population members
⢠Stratified random ⢠Judgment
â Population is divided into â Selects population
mutually exclusive groups (age members who are good
groups) and random samples prospects for accurate
are drawn from each group information
⢠Cluster
⢠Quota
â Population is divided into
mutually exclusive groups (city â Selects and interviews a
blocks) and a sample is taken prescribed number of
from each group people in each of several
categories
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36. What is Loyalty?
Loyalty is a deeply held commitment to re-buy
or re-patronize a preferred product or service
in the future despite situational influences
and marketing efforts having the potential to
cause switching behavior.
Copyright Š 2009 Pearson
Education, Inc. Publishing as
Prentice Hall
5-36
38. What Influences
Consumer Behavior?
Cultural Factors
Social Factors
Personal Factors
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Education, Inc. Publishing as
Prentice Hall
39. What is Culture?
Culture is the fundamental determinant of a
personâs wants and behaviors acquired
through socialization processes with family
and other key institutions.
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Education, Inc. Publishing as
Prentice Hall
40. Subcultures
Nationalities
Religions
Racial groups
Geographic regions
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Education, Inc. Publishing as
Prentice Hall
41. Social Classes
Upper uppers
Lower uppers
Upper middles
Middle class
Working class
Upper lowers
Lower lowers
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Education, Inc. Publishing as
Prentice Hall
42. Characteristics of Social Classes
⢠Within a class, people tend to behave alike
⢠Social class conveys perceptions of inferior or
superior position
⢠Class may be indicated by a cluster of
variables (occupation, income, wealth)
⢠Class designation is mobile over time
Copyright Š 2009 Pearson
Education, Inc. Publishing as
Prentice Hall
43. Social Factors
Reference
Family
groups
Social
Statuses
roles
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Education, Inc. Publishing as
Prentice Hall
44. Reference Groups
Membership groups
Primary groups
Secondary groups
Aspirational groups
Dissociative groups
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Education, Inc. Publishing as
Prentice Hall
45. Family Distinctions
Affecting Buying Decisions
⢠Family of Orientation
⢠Family of Procreation
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Education, Inc. Publishing as
Prentice Hall
46. Roles and Status
What degree of status is
associated with various
occupational roles?
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Education, Inc. Publishing as
Prentice Hall
47. Personal Factors
Age
Self- Life cycle
concept stage
Lifestyle Occupation
Values Wealth
Personality
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Education, Inc. Publishing as
Prentice Hall
52. Four levels of Micromarketing
⢠Segmentsâsimilar needs and wants
⢠Niches--sub-segments with a distinctive
mix of benefits
⢠Local areasâmarketing programs tailored
to the needs and wants of local customer
groups in trading areas, neighborhoods,
even individual stores
⢠Individualsâsegments of one (i.e., one-to-
one marketing)
Copyright Š 2009 Pearson
Education, Inc. Publishing as
Prentice Hall
53. Segmenting Consumer Markets
⢠Geographicânations, states, regions,
countries, cities, neighborhoods
⢠Demographicâage, life-cycle stage,
gender, income, generation, social class
⢠Psychographic--psychological/personality
⢠Behavioral--knowledge of, attitude toward,
use of, or response to a product
Copyright Š 2009 Pearson
Education, Inc. Publishing as
Prentice Hall
54. Demographic Segmentation
⢠Age and Life Cycleâcustomer wants and
abilities change with age.
⢠Life stageâa personâs major concern (e.g.,
divorce, 2nd marriage, buying new home)
⢠Genderâmale and female
⢠Incomeâupper, middle, lower
⢠Social classâoccupation, education, type
and location of housing
⢠Generation
Copyright Š 2009 Pearson
Education, Inc. Publishing as
Prentice Hall
56. Steps in
Strategic Brand Management
⢠Identifying and establishing brand
positioning
⢠Planning and implementing brand
marketing
⢠Measuring and interpreting brand
performance
⢠Growing and sustaining brand value
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Education, Inc. Publishing as
Prentice Hall
57. Brand
A name, term, sign, symbol
or design, or a combination of them,
intended to identify the goods
or services of one seller or group
of sellers and to differentiate
them from those of competitors.
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58. Attributes of Strong Brands
⢠Excels at delivering ⢠Uses multiple marketing
desired benefits activities
⢠Stays relevant ⢠Understands consumer-
⢠Priced to meet brand relationship
perceptions of value ⢠Supported by
⢠Positioned properly organization
⢠Communicates ⢠Monitors sources of
consistent brand brand equity
messages
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59. Brand Equity
The differential effect that
Brand knowledge has on
Consumer response to
the marketing of that
brand.
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60. Advantages of Strong Brands
⢠Improved ⢠Larger margins
perceptions of ⢠More inelastic
product performance consumer response
⢠Greater loyalty ⢠Greater trade
⢠Less vulnerability to cooperation
competitive ⢠Increased marketing
marketing actions communications
⢠Less vulnerability to effectiveness
crises ⢠Possible licensing
opportunities
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62. Measuring Brand Equity
Brand Auditsâassess health of brand,
uncover sources of brand equity, ways
to improve
Brand Trackingâbaseline information
about brands and marketing
information
Brand Valuationâestimation of total
financial value of the brand
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63. Brand Roles in a Brand Portfolio
⢠Flankersâfighter brand (flagship)
⢠Cash cowsâcapitalizing on existing
brand equity
⢠Low-end, entry-levelâtraffic builders
⢠High-end prestigeâadd prestige and
credibility to the entire portfolio
Copyright Š 2009 Pearson
Education, Inc. Publishing as
Prentice Hall
64. Brand Roles in a Brand Portfolio
⢠Flankersâfighter brand (flagship)
⢠Cash cowsâcapitalizing on existing
brand equity
⢠Low-end, entry-levelâtraffic builders
⢠High-end prestigeâadd prestige and
credibility to the entire portfolio
Copyright Š 2009 Pearson
Education, Inc. Publishing as
Prentice Hall
66. Identity and Image
Identity: Image:
The way a The way the
company aims public perceives
to identify or the company or
position itself Its products
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