Marketing Management
March 2015
Marketing
03 October 2015
By
Jennifer H Smith
Marketing Mattersmm
The Four Ps of the Marketing Mix
Marketing-Mix Strategy
Company Orientations towards the
marketplace
Productio
n
concept
Product
concept
Selling
concept
Marketin
g
concept
Societal
concept
Holistic
marketin
g
Trends in Marketing Practices
Social Networks
Online Communities
and Forums
Deregulation
Market Fragmentation
Consumer
Empowerment
Environmental
Concerns
Business Strategic-Planning Process
Factors
Influencing
Company
Marketing
Strategy
Product Portfolio Analysis
SWOT
Strategic planning and
analysis
3. Industry analysis
a.
PESTLE analysis
b.
Industry attractiveness
Porters 5 Forces
Competitive Strategies
Market leader
Market challenger
Market nichers
Market follower
13
Marketing
Information
System
Developing Marketing Information
Marketing research is the systematic design, collection, analysis,
and reporting of data relevant to a specific marketing situation facing
an organization
Consists of 4 steps:
Creating value, satisfaction & loyalty
Factors Affecting Consumer Behaviour
The Buyer Decision Process
Consumer
processes
information to
arrive at brand
choices
Consumer buys
the most
preferred brand
due to attitudes
of others or
Unexpected
situational
factors
Satisfaction or
dissatisfaction
due to
consumers
expectations
and products
perceived
performance.
Customer
satisfaction is a
key to building
profitable
relationships
with consumers
Market Segmentation
Requirements for Effective Segmentation
To be useful, market segments must be:
Measurable
Accessible
Substantial
Actionable
Differentiable
Market Segmentation
Market segmentation is the division
of a market into distinct groups of
buyers who have distinct needs,
characteristics, or behaviour and
who might require separate
products or marketing mixes
Market segment is a group of
consumers who respond in a similar
way to a given set of marketing
efforts
Geographic
segmentation
Demographic
segmentation
Behavioral
segmentation
Psychographic
segmentation
Market Targeting
20
Differentiation and Positioning
Product position is the way the product is defined by consumers on
important attributes the place the product occupies in consumers minds
relative to competing products
Perceptions
Impressions
Feelings
Differentiation and Positioning
Choosing a Differentiation and Positioning Strategy
Identifying a set of possible competitive advantages to build a
position by providing superior value from:
Product differentiation
Service differentiation
Channel differentiation
People differentiation
Image differentiation
Branding
Brand represents the consumers perceptions and feelings about a
product and its performance.
It is the companys promise to deliver a specific set of features,
benefits, services, and experiences consistently to the buyers
Brand
Relationship
Spectrum
Branding Strategy: Building Strong Brands
Brand Development Strategies
Line and Brand Extension defined
Brand Extension expands meaning
What Is a Product?
Product is anything that can be offered in a market for attention, acquisition,
use, or consumption that might satisfy a need or want
Product features are a competitive tool for differentiating a product from
competitors products
Product Life-Cycle Strategies
Product development
Sales are zero and investment costs mount
Introduction
Slow sales growth and profits are nonexistent
Growth
Rapid market acceptance and increasing profits.
Maturity
Slowdown in sales growth and profits level off or decline
Decline
Sales fall off and profits drop
New-Product Decision Process
Service Characteristics
Intangibility
Variability
Perishability
Empty seats
Inseparability
Designing and managing services
Word-of-mouth
communication
Personal needs
Past experience
Expected service
Gap 5
Perceived service
CUSTOMER
PROVIDER
Gap 4
Service delivery
Gap 3
Service quality
specifications
Gap 1
Gap 2
Management perceptions
of customer expectations
External
communications
to customers
Nine Price-Quality Strategies
Setting
Pricing Policy
Integrated Marketing Channels
Channel design is a strategic marketing tool
Four decisions can help a firm design a distribution
channel:
Determine the role distribution will play in achieving its
objectives;
Determine the type of channel needed and if
intermediaries will be needed or not;
Determine the intensity of distribution;
Determine the specific intermediaries which will be used.
Integrated Marketing Channels:
Selecting the Type of Channel
Types of Retailers
Self-Service
Limited Service
Full Service
Self-Selection
Types of Wholesalers
Merchant
wholesalers
Take title to merchandise; Full-service and
limited-service jobbers and distributors
Full-service
wholesalers
Carry stock, maintain a sales force, offer
credit, make deliveries, and provide
management assistance.
Limited line of fast-moving goods. Truck
Limited-service
wholesalers, drop shippers, rack jobbers,
wholesalers
mail-order wholesalers
Brokers and
agents
Facilitate buying and selling; earn 2% - 6%
commission on selling price.
Specialized
wholesalers
Agricultural assemblers, petroleum bulk
plants, and actions companies.
Wholesaler Functions
Selling and Promoting
Warehousing
Buying and
assortment building
Bulk breaking
Wholesaler Functions
Market information
Transportation
Management Services
Risk bearing
Financing
Market-Logistics Objectives
42
Integrated Logistics Systems
Transportation Modes
Tradeoffs
Market-Logistics Decisions
Order Processing
Warehouse Locations
Inventory Levels
Transportation Mode
Marketing Communications Mix
Word-of-Mouth
Advertising
Events and Experiences
Public Relations
and Publicity
Direct and Interactive
Marketing
Sales Promotion
Sales Force
Alternate Advertising Media
45
Public Spaces
Product Placement
Billboards
Point of Purchase
Steps in Developing Effective Communications
Identify target
audience
Determine
objectives
Design
communications
Decide on
media mix
Establish budget
Select channels
Measure results
Manage IMC
Designing the Sales Force
48
Deliverer
Demand
Creator
Solution Vendor
Missionary
Technician
Order Taker
Holistic marketing
is the idea that everything matters with marketing.
