Marketing Management Overview (MANMGT1)

A course that teaches effective marketing decision-making. Topics include marketing strategies, research, buyer behavior, and more, emphasizing consumer and business marketing.

A framework outlining the core elements of a marketing strategy (Product, Price, Place, Promotion).

Weekly assessments measuring understanding of marketing concepts from notes and materials.

A final project outlining a marketing strategy using social media platforms.

The online platform for submitting course assignments and assessments.

Creating marketing strategies focused on understanding and meeting customer needs.

Gathering and analyzing information about consumers and markets.

Identifying specific customer groups to focus marketing efforts on.

Activities, performances, or benefits that can be offered for sale and do not result in the ownership of anything.

Combinations of goods and services offered to consumers; often encompass both.

Promoting time-based events; includes shows, performances, anniversaries.

Creating, staging & marketing experiences; often involves multiple services & goods; can be customized.

Building a professional brand. Marketing oneself to attract opportunities.

Attracting tourists, residents, factories, and company headquarters. A strategy to increase success.

Marketing intangible rights to real estate (real property) or financial property (like stocks).

Building a positive image for organizations (like universities, corporations, or non-profits) to target audiences and funding.

All actual and potential rival offerings and substitutes considered by buyers.

The factors that affect a company's marketing activities, divided into task and broad environments.

Actors directly involved in producing, distributing, and promoting a product/service (e.g., company, suppliers, distributors, customers).

Larger societal forces affecting the entire marketing environment (e.g., demographics, economics, social trends, technology, etc.).

Digital tools improving production, communication, and pricing in business.

Increased ease of global marketing and purchasing due to advancements in transportation and communication.

Companies supplying materials or services to create a product/service.

An intermediary facilitates the product's journey to the customer (e.g., agents, brokers).

Relaxing government rules on industries to increase competition.

Transferring ownership of a company from public to private hands.

Strong competition between companies, increasing marketing costs and reducing profit margins.

Combining different industries to create new opportunities and products.

Retailers adapting to new competition by offering experiences, not just products.

Cutting out middlemen in the distribution process, often by using the internet.

Large brands that have expanded into many related product categories.

Increased number of people working and traveling in other countries.

A unique skill or strength that gives a company a competitive advantage, making it stand out from competitors.

A company's exceptional ability to perform a particular business process or activity better than its rivals.

The ability of a company to identify and understand early signals of market changes and trends.

A interconnected network of activities that a company performs efficiently to gain a competitive advantage.

A comprehensive approach to marketing that emphasizes building long-term relationships with customers and stakeholders.

The process of identifying new opportunities to create value for customers.

Developing and delivering products or services that offer value to customers.

Ensuring that customers can easily access and benefit from the value offered.

A positive cycle where success in one area leads to success in another, creating a continuous loop of growth and improvement.

McKinsey & Company's framework for successful business practices, encompassing Strategy, Structure, Systems, Style, Skills, Staff, and Shared Values.

A shared way of thinking and behaving among employees within a company.

Employees possessing the necessary knowledge and abilities to execute the company's strategy.

The process of finding, hiring, training, and allocating the right people to the right roles within a company.

Common guiding principles that employees believe in and uphold, shaping the company's ethical and operational foundation.

A state where a company's strategies align with the evolving market conditions and demands.

Effectiveness means doing the right thing, while efficiency means doing things right. Companies need to excel at both to succeed.