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MG 220 Marketing Management
BBA 10 - Sec A
Fall 2011
Muhammad Talha Salam, Asst. Professor
[email protected]
Part 1:Understanding Marketing Management
> Importance of Marketing
> Scope of Marketing
Class Presentation | Session 1 | 8 Aug 2011
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Importance of MarketingWhy it is required
Financial success & Marketing ability
Making the right decision
Simple? Skillful marketing: A never-ending pursuit
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Scope of MarketingWhat is Marketing
Some definitions:
Meeting needs profitably
AMA: Marketing is an organizational functionand a set of
processes for creating,
communicating, and delivering value tocustomers and for managing
customer
relationships in ways that benefit theorganization and its
stakeholders
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Scope of MarketingWhat is Marketing
Some definitions (contd.):
Kotler: Marketing management is the art andscience of choosing
target markets and getting,
keeping, and growing customers throughcreating, delivering, and
communicating superiorcustomer value
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Scope of MarketingExchanges & Transfers
Exchange
Process of obtaining a desired product from someone byoffering
something in return
Transaction Trade of values between two or more parties
Transfer
One party gives something to other but doesnt receiveanything in
return
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Scope of MarketingWhat is marketed?
Goods
Services
Events
Experiences Persons
Places
Properties
Organizations Information
Ideas
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Scope of MarketingWho markets?
Marketer, someone who seeks a response fromanother party, called
Prospect
Marketers are responsible for Demand Management
Negative Non-Existent
Latent
Declining
Irregular Full
Overfull
Unwholesome
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Scope of MarketingWho markets?
Markets, collection of buyers and sellers who transact overa
particular product or product class
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Scope of MarketingWho markets?
Markets, collection of buyers and sellers who transact overa
particular product or product class
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Scope of MarketingWho markets?
Key Customer Markets Consumer
Branding | Mass selling | Insights
BusinessProfessional buyers | well-informed
Global
Adaptability | Operational matters
N0n-profit & GovernmentHighly price sensitive | Competitive
pricing
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Scope of MarketingWho markets?
Marketplaces, Marketspaces & Metamarkets
Marketplaces
Physical | buying yourself
Marketspaces
Online | Ordering
MetamarketsComplimentary products
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Scope of MarketingHow businesses are changing
The Marketplace isnt what it used to be
Changing technology
Globalization
Deregulation
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Scope of MarketingHow businesses are changing
The Marketplace isnt what it used to be
Privatization
Customer empowerment
Customization
Heightened competition
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Scope of MarketingHow businesses are changing
The Marketplace isnt what it used to be
Industry convergence
Retail transformation
Disintermediation
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MG 220 Marketing Management
BBA 10 - Sec A
Fall 2011
Muhammad Talha Salam, Asst. Professor
[email protected]
Part 1:Understanding Marketing Management
> Company Orientations toward the marketplace
> Fundamental Marketing Concepts, Trends and Tasks
Class Presentation | Session 2 | 10 Aug 2011
