Management PPT from Prof. Akhil Chandra

Marketing and Marketing Process :

Marketing and Marketing Process

Lesson Plan:

Lesson Plan Objective :To understand what is marketing and understand the marketing process Time Duration : 30 Minutes Methodology of teachings : PPT presentation with examples . Flow of PPTs Definition of marketing The marketing process A) Understand the marketplace and customer needs and wants B) Design a customer driven marketing strategy C) Preparing an integrated Marketing Plan and Program D)Build customer Relationships E)Capturing Value from customers Trends and forces changing marketing landscape Questions and Answers

Major Trends and Forces changing marketing landscape:

Major Trends and Forces changing marketing landscape New Digital Age (Explosive growth of computers, Telecommunications , information , Transportation, Internet and other Technologies) Rapid Globalization Demographic shift in purchasing power Marketing is becoming more and more customer centric Customer demanding highly customized product Call for more ethics and social responsibility

What is Marketing:

What is Marketing Marketing is managing profitable customer relationship Marketing is not just selling and advertising Marketing is the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return

The Marketing Process. Five step Approach:

The Marketing Process. Five step Approach Understand the marketplace and customer needs and wants Step 1 Design a customer driven marketing strategy Step 2 Construct an integrated marketing program that delivers superior value Step-3 Build profitable relationships and create customer delight Step 4 Capture value from customers to create profits and customer equity Step 5

Customer needs wants and Demands:

Customer needs wants and Demands Needs – basic physical needs like food ,clothing, warmth and safety. Social needs for belonging and affection. Individual needs for knowledge and self expression Wants – needs shaped by culture as wants Demands-Wants backed by buying power Given their wants and resources people demand products with benefits that add up to most value and satisfaction .

Understand the marketplace and customer needs and wants- Marketplace (Step 1) :

Understand the marketplace and customer needs and wants- Marketplace (Step 1) Sellers must search for buyers , identify their needs, design good market offerings, set prices for them , promote them and store and deliver them. Activities such as product development , research, communication, distribution, pricing and service are core marketing activities. Elements of a marketing system are suppliers , companies as marketers , competitors, marketing intermediaries and final use rs.

Designing a customer driven marketing strategy(step 2) :

Designing a customer driven marketing strategy(step 2) 1. Choosing target markets after carrying out market segmentation 2. Choosing value proposition ( Set of benefits or values it promises to deliver to consumers to satisfy their needs.) Meaning thereby how Company will differentiate from competitors and position itself in the marketplace. Marketing manager aim is to find , attract, keep and grow target customers by creating , delivering and communicating superior customer value.

Construct an integrated marketing program that delivers superior value-Step 3 :

Construct an integrated marketing program that delivers superior value-Step 3 Marketing program builds customer relationship by transforming the marketing strategy into action. For implementing marketing strategy, company’s action is in form of marketing mix popularly called as 4 Ps.( Product, price, place and promotion ) Product – need satisfying market offering Price-How much it will charge for the offer Place-How it will make the offer available to target consumers Promotion- communication with target customers about the offer and persuade them of its merits

Preparing an Integrated Marketing Plan and Program:

Preparing an Integrated Marketing Plan and Program

Build profitable relationships and create customer delight-Step 4 :

Build profitable relationships and create customer delight-Step 4 Customer relationship management is carried out by building and maintaining profitable customer relationships by delivering superior customer value and satisfaction . It deals with acquiring , keeping and growing customers. Repeat purchases are carried out only by Satisfied customers Relate with more carefully selected profitable customers and build long term relationships.

Capturing value from customers-step 5:

Capturing value from customers-step 5 This is the final step which involves capturing value in return in the form of current and future sales , market share and profits. Companies want not only to create profitable customers but to own them for life, capture their customer life time value and earn a greater share of their purchases.

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Strategic management-SWOT Analysis:

Strategic management-SWOT Analysis Lesson Plan Objective : To understand how SWOT analysis is carried out during the stage of strategy formulation Time Duration: 30 Minutes Methodology : PPT Presentation with examples. Flow of PPTs What is Strategic Management Stages of strategic management What is SWOT Analysis What is environment External environment,- opportunity and threats Internal Environment-organization appraisal, strength and weaknesses Steps of SWOT analysis SWOT matrix Questions and Answers

What is strategic management:

What is strategic management Strategy is derived from the greek word strategos meaning generalship – the actual direction of military force. Simply put A strategy is the means to achieve objective The planned or actual coordination of the firm’s major goals and actions in time and space that continuously co-align the firm with its environment The five elements that make up strategy are arenas,vehicles,,differentiators,staging,economic logic

STRATEGIC MANAGEMENT:

STRATEGIC MANAGEMENT ESTABLISHMENT OF STRAT. INTENTS FORMULATION of STATEGIES IMPLEMENTATION OF STRATEGIES REVIEW,EVALUATION CONTROL VISION & MISSION statements, Business Definition Adopting Business Model, Setting Goals & Objectives Conducting SWOT , External and internal environment appraisal, Formulating CORPORATE & BUSINESS LEVEL Strategies, Strategic Analysis and Choice, Strategic Plan. Activating Strategies, Performing Strategic Evaluation, Exercising Strategic Control and Reformulating Strategies

Environmental and Organizational Appraisal- SWOT Analysis:

Environmental and Organizational Appraisal- SWOT Analysis Strategic management is basically dealing with external environment and establishing linkages with it after establishing internal

Environment:

Environment The environment of organization is aggregate of all conditions, events and influences that surround and affect it. Environment is external and internal Internal environment – Impact strengths or cause weaknesses External Environment- factors outside the organization which provide opportunities or pose threats to the organization.

External environmental Sectors(Opportunities and Threats:

External environmental Sectors(Opportunities and Threats Economic International Market Political Regulatory Socio-Cultural Supplier Technological

Organizational capability factors( strengths and weaknesses):

Organizational capability factors( strengths and weaknesses) 1. Financial capability- access to financial resources, ,high credit worthiness,low cost of capital etc 2.Marketing capability wide variety of products, quality products,effective distribution and promotion, ,customer service etc 3. Operations capability high capacity utilization , favorable plant location,good inventory control, high caliber R&D, good technical collaborations 4. Personnel Capability- concern for HRM,Good training opportunities,safe and salutary working conditions etc 5. information management capability -easy access to Information resources , networking , security, ERP 6. General Management Capability- Good corporate planning, favorable corporate image, good rapport with Govt etc

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Strengths - are used to gain strategic advantages e.g good reputation among customers, resources, assets, people, Weaknesses –creating strategic disadvantages low morale, bad debts Opportunities – favorable conditions like economic boom, deregulation , new technologies Threats - unfavorable conditions creating risks shift in consumer taste, new competitor , loss of key staff

Steps of SWOT Analysis:

Steps of SWOT Analysis 1. setting the objectives of the organization 2. Indentifying strengths , weaknesses, opportunities and threats 3. Pose four questions i) How do we maximize our strengths ii) How do we minimize our weaknesses Iii) How to capitalize o opportunities in our external environment Iv)How to protect against the threats in our external environment 4. recommend strategy optimizing the four questions

A typical SWOT Matrix:

A typical SWOT Matrix

Benefits of SWOT Analysis:

Benefits of SWOT Analysis Simple to use Low cost Flexible and can be adapted to varying situations Leads to clarification of issues Development of goal oriented alternatives Useful as starting point for strategic analysis

Pitfalls of SWOT Analysis:

Pitfalls of SWOT Analysis Reality could be more complex Chances exist where strengths may be confused with opportunities or weaknesses with threats

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