Marketing Management PDF

PRESENTATION OBJECTIVES Analyze the importance of marketing; Differentiate the various marketing scopes; Critique the various types of entities being marketed; Characterize core concepts of marketing; Illustrate various marketing tasks; and Build major marketing decisions....

PRESENTATION OBJECTIVES Analyze the importance of marketing; Differentiate the various marketing scopes; Critique the various types of entities being marketed; Characterize core concepts of marketing; Illustrate various marketing tasks; and Build major marketing decisions.  SIGNIFICANCE OF MARKETING IN ANY BUSINESS Customer Finance Human resources Production Competition Decision Idea Economy MARKETING SCOPE Marketing has an extremely broad scope. It covers all the activities starting from the formation of ideas to generating profits. Customer Wants and Needs Consumer Behavior Product Planning and Development Branding Packaging Channel and Distribution Pricing Policy Sales Management Promotion Finance After-Sales Service MARKETING CORE CONCEPT 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". MARKETING MANAGEMENT TASK Marketing management is the study, planning, implementation and control of programs intended to form, make and preserve equally beneficial exchanges and relationships with target markets for the reason of reaching organizational objectives. It may be regarded as happening when no less than one party to a possible exchange gives thought to objectives and means of achieving preferred responses from other parties. It can occur in association with any market in its territory. It controls the level, timing and character of demand to accomplish its objective. The following are its tasks on the whole: MARKETING MANAGEMENT TASK Developing Marketing Strategies and Plans Capturing Marketing Insight Connect with the Customer Building Strong Brands Shaping the Market Offerings Delivering the value Communicating Value Creating Successful Long- term Growth MAJOR MARKETING DECISIONS Strategic Planning Social Responsibility and Ethics Honesty Responsibility Fairness Respect Transparency citizenship Research and Analysis COMPETITIVE ADVANTAGE AND STRATEGIC FOCUS The competitive advantage is the essence of a company's strategy. It determines what it will do differently or better than the competition to achieve its objective. Operational Excellence An operational excellence strategy intends to achieve cost leadership. At this point, the foremost focus centers on automating manufacturing processes and work procedures to make more efficient operations and trim down cost. COMPETITIVE ADVANTAGE AND STRATEGIC FOCUS Product Leadership as a competitive strategy intends to make a culture that continuously brings better-quality products to market. Here product leaders reach premium to market prices due to the experience they produce for their customers. COMPETITIVE ADVANTAGE AND STRATEGIC FOCUS Customer Intimacy The customer intimacy strategy centers on offering a distinctive range of customer services that consents to a personalized service and customized products to meet varying customer needs. MARKETING STRATEGY DECISIONS A strategy is the means of the process that objectives are realized. Marketing strategy decisions are regarded as an essential decision- making for marketing managers. It is an important part of planning. Segmentation and Targeting Product Decision Price marketers DISTRIBUTION AND SUPPLY CHAIN DECISIONS A distribution channel is a way through which goods or services move from the manufacturing company to the customer or the transfer of payment happens from the customer to the company. Inventory Decision Transportation Decisions PROMOTION DECISIONS Promotion decisions are made to help in informing the target marketing of the product. The source is the information which is introduced for the promotion while the feedback is provided by the consumer, which is evaluated and changes are made for promotion.  PROMOTION DECISIONS.The following are the major features of promotion decisions: 1. understanding of target consumer and their inclination of media. 2. familiarity with consumers' beliefs that can be associated with the product to obtain the anticipated response. 3. planning different promotional tools, each tool for particular target but all related to gain a common target 4. synchronizing of advertising, sales, promotion and public relation as a promotional strategy 5. constant broadcasting of information concerning the product  PROMOTION DECISIONS Promotion mix is a combination of various marketing techniques, oriented to acquire a common target. It provides a structure for budget allocation for different elements of the promotional mix. Some elements of promotional mix include advertising, sales promotion, public relations and publicity, personal selling, direct marketing and the use of social media THANK YOU Tanza, Cavite 0915-351-**** [email protected]