1st lect intro

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Marketing Management : 

Marketing Management

What is Marketing ? : 

2 What is Marketing ? Selling ? Advertising ?

Slide 3: 

3 We use the word Marketing to describe such things as analyzing the needs of the people trying to guess what types of products they want estimate how much they will buy predict when they will want to buy determine where they go to buy the stuff

Slide 4: 

4 …. And, figure out the best price to sell it at - and can you still make a profit selling it at that price decide on promotional things to create awareness about the product look at the competition to see what they are doing with pricing, features etc.

Slide 5: 

5 “Marketing is concerned with anticipating customer demand and directing the flow of goods from producers to consumers” Marketing has to do with matching producer’s outputs to consumer’s activities (wants, needs)

Slide 6: 

6 Serving the needs of customers is what business should be all about … Marketing is the business function that interprets customer needs to the rest of the organization. Marketing should begin with the customer needs - NOT with the production process. Marketing should anticipate needs.

I want it, I need it….. : 

7 I want it, I need it….. 5 Types of Needs Stated needs Real needs Unstated needs Delight needs Secret needs Future Needs

Marketing Mix and the Customer : 

8 Marketing Mix and the Customer Four Ps Product Price Place Promotion Four Cs Customer solution Customer cost Convenience Communication

Core Concepts : 

9 Core Concepts Needs, wants, and demands Target markets, positioning, segmentation Offerings and brands Value and satisfaction Marketing channels Supply chain Competition Marketing environment Marketing planning

Key Customer Markets : 

10 Key Customer Markets Consumer markets Business markets Global markets Nonprofit/Government markets

The marketplace isn’t what it used to be…. : 

11 The marketplace isn’t what it used to be…. Changing technology Globalization Deregulation Privatization Empowerment Customization Convergence

Marketing Management Tasks : 

12 Marketing Management Tasks Developing marketing strategies Capturing marketing insights Connecting with customers Building strong brands Shaping market offerings Delivering value Communicating value Creating long-term growth

Slide 13: 

13 “Identifying customer needs and wants and delivering satisfaction to him at a profit”