Session 2 MG 220 BBA - 11 Aug 10

MG 220 Marketing ManagementBBA 09 – Sec C

Fall 2010

Muhammad Talha Salam, Asst. [email protected]

Access it online: www.slideshare.net/talhasalam

Part 1: Understanding Marketing Management

> Remaining portion of Session 1> Fundamental Marketing Concepts,

Trends and Tasks

Class Presentation | Session 2 | 11 Aug 2010

MG 220 Marketing Management 2Access it online: www.slideshare.net/talhasalam

Fundamental Marketing ConceptsCore Concepts

• NeedsBasic Human Requirements

• WantsNeeds which are directed to a specific object

• DemandsWants for specific products backed by ability to pay (acquire)



• Understanding Needs– Stated– Real– Unstated– Delight– Secret

– Pair of jeans– Quality– Affordable, Branded– A good discount deal– ‘wanna’ look cool!!!



• Satisfying everyone……how?

• SegmentationDifferent segments based on several factors

• Target MarketsSegments presenting greatest opportunity

• PositioningPositioned carefully as delivering certain benefits….



• OfferingPositioning is “crafted” into an offering

• BrandsAn offering from a known source



• Value‘perceived’ tangible and intangible benefits and costs to customers

• SatisfactionFulfillment of a need

*WRONG*

Person’s comparative judgments resulting from a product’s perceived performanceIf performance < expectations: dissatisfied/dissapointedIf performance>=expectations: satisfied/delighted



• Marketing Channels– Communication channels

interacting with target buyers

– Distribution channelsdisplay, sell or deliver

– Service channelsfacilitating transactions with buyers



• Supply Chain–Marketing Channel: Marketer to target

buyer

while

– Supply Chain: A complete value delivery systemFrom Raw materials to components to final buyers



• Competitionall the actual and potential rival offerings and substitutes that a buyer might consider

Coke’s competition (?)



• Marketing Environment– Task Environment

Immediate actors involved in producing, distributing and promoting the offering

– Broad Environment1. Demographic Environment2. Economic Environment3. Physical Environment4. Technological Environment5. Political-legal Environment6. Social-cultural Environment



• Marketing Planning– A Process consisting of:• Analyzing marketing opportunities• Selecting target markets• Designing marketing strategies• Developing marketing programs• Managing the marketing effort


Fundamental Marketing ConceptsShifts in Marketing Management

1. From Marketing does the marketing to everyone does the marketing

2. From organizing by product units to organizing by customer segments

3. From Making everything to buying more goods and services from outside

4. From using many suppliers to working with few “partners”5. From relying on old market positions to uncovering new

ones6. From emphasizing tangible assets to emphasizing

intangible assets7. From building brands through advertising to building

brands through performance and integrated communication


Fundamental Marketing ConceptsShifts in Marketing Management

8. From attracting customers through stores and salespeople to making products available online

9. From selling to everyone to trying to be the best firm serving well-defined target markets

10. From focusing on profitable transactions to focusing on Customer Lifetime Value

11. From a focus on gaining market share to a focus on building customer share

12. From being Local to being “Glocal”13. From focusing on financial scorecard to focusing on

marketing scorecard14. From focusing on shareholders to focus on

stakeholders


Fundamental Marketing ConceptsMarketing Management Tasks

• Developing Marketing Strategies and Plans

• Capturing Marketing Insights• Connecting with customers• Building strong brands• Shaping the Market Offerings• Delivering value• Communicating value• Creating Long-term growth

MG 220 Marketing ManagementBBA 09 – Sec C

Fall 2010

Muhammad Talha Salam, Asst. [email protected]

Access it online: www.slideshare.net/talhasalam

Part 1: Understanding Marketing Management

> Marketing & Customer Value> Corporate and Division Strategic

Planning> Business Unit Strategic Planning> Product Planning: The Nature and

Contents of a Marketing Plan

Class Presentation | Session 3 | 16 Aug 2010

Documents

Session 2 MG 220 BBA - 11 Aug 10