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Principles of Marketing K&A day-one Seminar in Ilia university 2014 MOGHIMI

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Introduction to Marketing Reference Book: MM Kotler & Armstrong Prof. Bahman Moghimi Seminar in Ilia State University, Tbilisi, Georgia Day-One 11 Oct, 2014

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Page 1: Principles of Marketing K&A  day-one Seminar in Ilia university 2014 MOGHIMI
Page 2: Principles of Marketing K&A  day-one Seminar in Ilia university 2014 MOGHIMI

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B.M

oghimi@

yahoo.co.uk

Professor: Bahman MoghimiDoctor of Business AdministrationM.Sc. Of “Industrial Marketing & e-Commerce”

Day oneIlia State University

Page 4: Principles of Marketing K&A  day-one Seminar in Ilia university 2014 MOGHIMI

Only two things are infinite, the universe and human stupidity, and I'm not sure about the former!

Albert EinsteinUS (German-born) physicist (1879 – 1955)

[email protected]

Page 5: Principles of Marketing K&A  day-one Seminar in Ilia university 2014 MOGHIMI

How did we think before? .

5

B.M

oghimi@

yahoo.co.uk

Page 6: Principles of Marketing K&A  day-one Seminar in Ilia university 2014 MOGHIMI

How did we think before? ..

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B.M

oghimi@

yahoo.co.uk

Page 7: Principles of Marketing K&A  day-one Seminar in Ilia university 2014 MOGHIMI

How did we think before? ...

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B.M

oghimi@

yahoo.co.uk

Page 8: Principles of Marketing K&A  day-one Seminar in Ilia university 2014 MOGHIMI

How did we think before? ....

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B.M

oghimi@

yahoo.co.uk

Page 9: Principles of Marketing K&A  day-one Seminar in Ilia university 2014 MOGHIMI

How did we think before? .....

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B.M

oghimi@

yahoo.co.uk

Page 10: Principles of Marketing K&A  day-one Seminar in Ilia university 2014 MOGHIMI

How did we think before? ......

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B.M

oghimi@

yahoo.co.uk

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Page 12: Principles of Marketing K&A  day-one Seminar in Ilia university 2014 MOGHIMI

What is Paradigm?

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oghimi@

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Page 13: Principles of Marketing K&A  day-one Seminar in Ilia university 2014 MOGHIMI

Do you see anything Surprising here?

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Page 14: Principles of Marketing K&A  day-one Seminar in Ilia university 2014 MOGHIMI

What is Paradigm Shift?

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oghimi@

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That’s Wi-Fi !!

Page 15: Principles of Marketing K&A  day-one Seminar in Ilia university 2014 MOGHIMI

[email protected]

Para

digm

Shi

ft is

cha

ngin

g th

e w

ay y

ou lo

ok

at th

e w

orld

!

Page 16: Principles of Marketing K&A  day-one Seminar in Ilia university 2014 MOGHIMI

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The Way To Paradigm Shift .

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Page 17: Principles of Marketing K&A  day-one Seminar in Ilia university 2014 MOGHIMI

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The Way To Paradigm Shift ..

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Page 18: Principles of Marketing K&A  day-one Seminar in Ilia university 2014 MOGHIMI

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Old Economy V.S. New Economy

Old Economy New Economy

Organize by product units

Focus on profitable transactions

Look primarily at financial scorecard

Focus on shareholders

Marketing does the marketing

Build brands through advertising

Focus on customer acquisition

No customer satisfaction measurement

Over-promise, under-deliver

Organize by customer segments

Focus on customer lifetime value

Look also at marketing scorecard

Focus on stakeholders

Everyone does the marketing

Build brands through behaviorFocus on customer retention and growth

Measure customer satisfaction & retention

Under-promise, over-deliver

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Page 20: Principles of Marketing K&A  day-one Seminar in Ilia university 2014 MOGHIMI

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What Customers want?

Before After

Cheap CheapFast FastConvenient ConvenientGood Quality Good Quality

Added-value

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Value

What is value really?

What is the first reason you buy something?

When do you feel valued?

How can we create value?

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Meeting Increasing Customer Needs

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Why do we do business?!!

1. Profit

2. Turn Over

3. Credit

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Why do we buy goods or services?

Differentiation

Price

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How can we create value? 3Qs!

1. What do others have that we don’t?

2. What do we have that others don’t?

3. What happens to our customers if we are not there for them?

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Quote .

“There is only one boss: the customer…. He can fire everybody in the company, from the Chairman on down, simply by spending his money somewhere else.”

Sam Walton. Founder of Wal Mart

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Quote ..

“Your most unhappy customers are your greatest source of learning.”

Bill Gates. “Business @ the Speed of Thought”

Page 29: Principles of Marketing K&A  day-one Seminar in Ilia university 2014 MOGHIMI

What is Marketing? .

Many different definitions of marketing

business philosophy to create and retain satisfied customers

exchange process – short term transactional marketing

relationship marketing - development of mutually beneficial long-

term relationships between suppliers and customers

creating memorable experiences

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B.M

oghimi@

yahoo.co.uk

Page 30: Principles of Marketing K&A  day-one Seminar in Ilia university 2014 MOGHIMI

What is Marketing? ..

Marketing involves in developing product that provides superior value, and prices, distributes and promotes them effectively.

AdvertisingAdvertising and sellingselling are only part of a larger marketing marketing mix, mix, set of tools that work together to satisfy customer needs (...) and build customer relationship

Thus Thus marketing is …marketing is … All All social and managerial social and managerial processes processes by which individuals and by which individuals and

groups obtain what they need and want through creating and groups obtain what they need and want through creating and exchange products and value with othersexchange products and value with others

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B.M

oghimi@

yahoo.co.uk

Page 31: Principles of Marketing K&A  day-one Seminar in Ilia university 2014 MOGHIMI

What is Marketing? …

... all processall processeses by which companies create by which companies create value for customers and build strong value for customers and build strong

customer relationships in order to customer relationships in order to capture value from customers in return. capture value from customers in return.

It involves building It involves building long, profitablelong, profitable, value , value exchange exchange relationship with customers……. relationship with customers…….

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oghimi@

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Page 32: Principles of Marketing K&A  day-one Seminar in Ilia university 2014 MOGHIMI

[email protected]

INNOVATION: THE SECRET OF MARKETING!

Page 33: Principles of Marketing K&A  day-one Seminar in Ilia university 2014 MOGHIMI

Simple Model of Marketing Process

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Page 34: Principles of Marketing K&A  day-one Seminar in Ilia university 2014 MOGHIMI

Needs, Wants & Demands

Needs: State of deprivation (ex: Physical Needs) Wants: The form of human needs shaped by culture & Individual

Personality Demands: Human wants that are backed by buying power

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oghimi@

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NEED ! WANT !

$

Page 35: Principles of Marketing K&A  day-one Seminar in Ilia university 2014 MOGHIMI

Market OfferingsProducts, Service & Experiences

Customers needs and wants are fulfilled through “Market Offerings”,some combination of Products, Service, Information & Experiencesand include entities such as persons, places, organization,information & ideas

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oghimi@

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Page 36: Principles of Marketing K&A  day-one Seminar in Ilia university 2014 MOGHIMI

Market

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oghimi@

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Page 37: Principles of Marketing K&A  day-one Seminar in Ilia university 2014 MOGHIMI

What is Marketing Management?

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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oghimi@

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Page 38: Principles of Marketing K&A  day-one Seminar in Ilia university 2014 MOGHIMI

Marketing Management Orientation

The Production Concept (Focus on production and distribution)

The Product Concept (Focus on Quality & Performance)

The Selling Concept (Focus on large-scale selling & promotions)

The Marketing Concept (Sense & Response Philosophy)

The Social Marketing Concept (Both Customer & Society)

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oghimi@

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Page 39: Principles of Marketing K&A  day-one Seminar in Ilia university 2014 MOGHIMI

Marketing Mix elements are the ingredients to Design a Marketing Plan!

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The company’s

marketing strategy

should develop an

integrated marketing

program that actually

deliver the intended-

value to target

customers

Page 40: Principles of Marketing K&A  day-one Seminar in Ilia university 2014 MOGHIMI

Marketing Mix – Criteria & Start-Point

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oghimi@

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Company

Customer Competitor

Product

Staff

1. External Marketing2. Internal Marketing3. The Moment of Truth

Peter Naudé, University of Manchester. UK

Page 42: Principles of Marketing K&A  day-one Seminar in Ilia university 2014 MOGHIMI

Before you start your marketing activities, you must:

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Define your Business-Model

Decide about company vision

Come up with your mission

Design your Process Management

Human Resource Development and Management

Evaluation and Control Systems (TARGET)

Page 44: Principles of Marketing K&A  day-one Seminar in Ilia university 2014 MOGHIMI

[email protected]

Look at a Sample Business Model: It guarantees the revenue circle…

Page 45: Principles of Marketing K&A  day-one Seminar in Ilia university 2014 MOGHIMI

Building Customer Relationships

CRM is the overall process of building and

maintaining profitable customers relationships by

delivering superior customer value and satisfaction

Customer (Perceived) VLUE (customers evaluation of differentiation)

Customer SATISFACTION (Product Perceived Performance)

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oghimi@

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Page 47: Principles of Marketing K&A  day-one Seminar in Ilia university 2014 MOGHIMI

The Changing Nature of Customer Relationships

More Carefully selected Customers Long-Term Relationships Connecting Directly

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oghimi@

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CONNECT

Page 49: Principles of Marketing K&A  day-one Seminar in Ilia university 2014 MOGHIMI

Partner Relationship Management

Partners inside the company

– Marketing is far too important to be left only to the

marketing department!

Marketing partners outside the firm

– Supply Chain Management

– Strategic Alliances 49

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oghimi@

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Page 50: Principles of Marketing K&A  day-one Seminar in Ilia university 2014 MOGHIMI

Customer Loyalty & Retention

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Page 51: Principles of Marketing K&A  day-one Seminar in Ilia university 2014 MOGHIMI

What is Customer Equity?

The ultimate aim of customer relationship management is to produce high customer equity that is combined discounted customer lifetime values of all the company’s current & potential customers

– The more loyal the firms profitable customer, The higher the firm’s customer equity

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oghimi@

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Page 52: Principles of Marketing K&A  day-one Seminar in Ilia university 2014 MOGHIMI

Customer Equity

[email protected] [email protected]

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Introduction of the SpeakerBahman Moghimi holds a PhD in "E-Business“ from an American University

in Dubai, DBA (Doctor of Business Administration) from Iran and a MA in

"Industrial Marketing & E-Commerce“ from Sweden. He also took part in

three different fields of MBA in the recent years and has passed several

domestic and international courses in the field of Relationship Marketing

and CRM. He conducted the first research paper of the country (I.R of Iran)

about CRM critical success factors (CSF) and published a book about it.

He not only had advised several theses of students of BA and MBA in

related fields but also advised different companies and industries and

lectured in different universities and business schools around the World

including Europe, Japan & China , Middle East and even Africa.

In the recent years Mr. Moghimi had a general project of Marketing

Management in Nestle as their Regional Sales Development Manager and

had thought or did the consultancy for some companies in Europe &

Caucasus region. Now he is a full time Professor in University of Georgia

in the school of Business and Economics and worked and published many

quantitative researches. For the first time in the world, he mixed the two

terms of marketing & management and invented “Markagement” !