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Objectives PowerPoint Presentation

Objectives

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Objectives

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  1. Objectives • Course Organization • Tasks of Marketing • Major Concepts & Tools of Marketing • Marketplace Orientations • Marketing’s Responses to New Challenges

  2. Defining Marketing 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. - Philip Kotler (p. 7)

  3. Communication Industry (a collection of sellers) Market (a collection of Buyers) Information Simple Marketing System Goods/services Money

  4. Company Orientations Towards the Marketplace Consumers prefer products that are widely available and inexpensive Production Concept • Consumers favor products that • offer the most quality, performance, • or innovative features Product Concept Consumers will buy products only if the company aggressively promotes/sells these products Selling Concept Focuses on needs/ wants of target markets & delivering value better than competitors Marketing Concept

  5. Objectives • Define value & satisfaction - understand how to deliver them • The nature of high-performance businesses • How to attract & retain customers • Improving customer profitability • Total quality management

  6. Set strategies to satisfy key... Stake- holders By improving critical business... Processes and aligning... Organization Resources High Performance Business

  7. Satisfied Customers: • Are loyal longer • Buy more (new products & upgrades) • Spread favorable word-of-mouth • Are more brand loyal (less price sensitive) • Offer feedback • Reduce transaction costs

  8. Prospects First-time customers Repeat customers Clients Advocates Partners Disqualified prospects Inactive or ex-customers Customer Development Suspects

  9. Customers C1 C2 C3 Products P1 + + + Highly profitable product P2 + Profitable product P3 - - Losing product P4 + - Mixed-bag product High profit customer Mixed-bag customer Losing customer Customer/Product Profitability Analysis

  10. Objectives • Corporate and division strategic planing • Business unit planning • The marketing process • Product level planning • The marketing plan

  11. Objectives Resources Skills Opportunities Market-Oriented Strategic Planning

  12. Objectives Resources Profit and Growth Skills Opportunities Market-Oriented Strategic Planning

  13. Corporate Headquarters Planning • Define the corporate mission • Establish strategic business units (SBUs) • Assign resources to SBUs • Plan new business, downsize older businesses

  14. The Marketing Plan Executive Summary & Table of Contents Current Marketing Situation Opportunity & Issue Analysis Objectives Marketing Strategy Action Programs Projected Profit-and-loss Controls

  15. Objectives • Components of a marketing information system • Criteria of good marketing research • Decision support systems for marketing management • Demand measurement and forecast

  16. A marketing information system (MIS) consists of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers. A marketing intelligence system is a set of procedures and sources used by managers to obtain everyday information about developments in the marketing environment.

  17. Observational Focus-group Survey Behavioral Experimental Research Approaches

  18. Secondary-Data Sources • Internal Sources • Government Publications • Periodicals and Books • Commercial Data • On-Line • Associations • Business Information

  19. Good Marketing Research: • Is scientific • Is creative • Uses multiple methods • Realizes the interdependence of models & data • Acknowledges the cost & value of information • Maintains “healthy” skepticism • Is ethical

  20. Company Demand Market Demand Demand

  21. Estimating Current Demand • Total Market Potential • Area Market Potential • Industry Sales • Market Share

  22. Estimating Future Demand • Survey of Buyers’ Intentions • Composite of Sales Force Opinion • Expert Opinion • Past Sales Analysis • Market Test Method

  23. Chapter 5 Scanning the Marketing Environment Marketing Management Tenth Edition Philip Kotler

  24. Objectives • Tracking & Identifying Opportunities in the Macroenvironment • Demographic, Economic, Natural, Technological, Political, & Cultural Developments

  25. Macroenvironmental Forces • World trade enablers • Asian economic power • Rise of trade blocs • International monetary crises • Use of barter & countertrade • Move towards market economies • “Global” lifestyles

  26. Macroenvironmental Forces • Opening of “new” markets • Emerging transnational firms • Cross-border strategic alliances • Regional ethnic & religious conflict • Global branding

  27. Demographic Environment Worldwide Population Growth Population Age Mix Ethnic Markets Educational Groups Household Patterns Geographical Shifts in Population Shift from Mass Market to Micromarkets

  28. Economic Environment Income Distribution Subsistence economies Raw-material-exporting economies Industrializing economies Industrial economies Savings, Debt, & Credit Availability

  29. Changing Role of Government Higher Pollution Levels Shortage of Raw Materials Increased Costs of Energy Natural Environment

  30. Issues in the Technological Environment Accelerating Pace of Change Unlimited Opportunities for Innovation Varying R & D Budgets Increased Regulation

  31. Political- Legal Environment Increased Legislation Special- Interest Groups

  32. Social/Cultural Environment Of Oneself Of Others Of the Universe Views That Express Values Of Nature Of Organizations Of Society

  33. High Persistence of Core Cultural Values Existence of Subcultures Shifts of Secondary Cultural Values Through Time Social/Cultural Environment

  34. Chapter 6 Analyzing Consumer Markets and Buying Behavior Marketing Management Tenth Edition Philip Kotler

  35. Objectives • Influences on Buying Behavior • Buyer Decision Making

  36. Organism Response Simple Response Model Stimulus

  37. Culture Subculture Social Class Cultural Factors Buyer

  38. Social Factors Reference Groups Family Roles & Statuses

  39. Personal Influences Age and Family Life Cycle Stage Lifestyle Personality & Self-Concept Occupation & Economic Circumstances Influences on Consumer Behavior

  40. Psychological Factors Motivation Perception Beliefs & Attitudes Learning

  41. Significant differences between brands Few differences between brands Four Types of Buying Behavior Complex Buying Behavior Variety- Seeking Behavior High Involvement Low Involvement Dissonance- Reducing Buying Behavior Habitual Buying Behavior

  42. Decision Total Set Choice Set Aware- ness Set Consid- eration Set Decision Making Sets

  43. Objectives • How Business & Consumer Markets Differ • Organizational Buying Situations • Participants in the Business Buying Process • Major Influences on Organizational Buyers • Business Buyer Decision Making • Institutional & Government Buying

  44. Organizational Factors Purchasing- Department Upgrading Cross- Functional Roles Centralized Purchasing Decentralized Purchasing of Small Ticket Items Internet Purchasing Long-Term Contracts Purchasing- Performance Evaluation & Pro. Buyers Lean Production

  45. Problem Recognition General Need Description Product Specification Supplier Search Proposal Solicitation Supplier Selection Order Routine Specification Performance Review Need Recognition Info Search/ Eval Purchase Post Purchase

  46. Institutional Markets Low Budgets Captive Patrons

  47. Government Markets Public Review Domestic Suppliers Cost Minimization Open Bids Paperwork

  48. Objectives • Identifying Competitors • Evaluating Competitors • Competitive Intelligence Systems • Competitive Strategies • Customer vs. Competitor Orientation

  49. Industry Competition • Number of Sellers - Degree of Differentiation • Entry, Mobility, Exit barriers • Cost Structure • Degree of Vertical Integration • Degree of Globalization

  50. Objectives Competitor Actions Strategies Reaction Patterns Strengths & Weaknesses Analyzing Competitors