Module 1:
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Marketing
Management
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Topics:
▪ Definition of Marketing
▪ Evolution of Marketing
▪ Core Marketing Concept
▪ Marketing Mix (4Ps)
▪ The Marketing Process
▪ Market Opportunity Analysis
▪ Developing Marketing Strategy
▪ Branding
▪ Marketing Management Tasks
▪ PRODUCTION • Consumer favor products that are available and highly affordable. •
z production and distribution • Availability and affordability is what the
Improve
consumer wants.
▪ PRODUCT • Consumers favor products that offer the most quality, performance and
innovative features.
▪ SALES • Consumers will buy products only if the company promotes/sells these
products. • Creative advertising and selling will overcome consumers resistance and
convince them to buy.
▪ MARKETING MYOPIA • A short-sighted and inward looking approach to marketing that
focuses on the needs of the company instead of defining the company and its products
in terms of the customers' needs and wants. • It results in the failure to see and adjust
to the rapid changes in their markets.
▪ MARKETING • Focuses on needs, wants of target markets and delivering satisfaction
better than competitors. • The consumer is king! Find a need and fill it.
▪ RELATIONSHIP MARKETING • Focuses on needs, wants of target markets and
delivering superior value. • Long term relationship with customers and other partners
lead to success.
Needs, Wants, and Demands
Need: State of felt deprivation including physical, social, and
individual needs.
Physical needs: Food, clothing, shelter, safety Social
needs: Belonging, affection
Individual needs: Learning, knowledge, self-expression
Want: Form that a human need takes, as shaped by culture
and individual personality.
Wants + Buying Power = Demand
Concepts of Marketing
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Production Concept
The philosophy that consumers will favor products that are available and highly affordable and that
management should therefore focus on improving production and distribution efficiency.
Product Concept
The philosophy that consumers will favour products that offer the most quality, performance, and
innovative features.
Selling Concept
The idea that consumers will not buy enough of the organization’s products unless the organization
undertakes a large – scale selling and promotion effort.
Marketing Concept
The marketing management philosophy that holds that achieving organizational goals depends on
determining the needs and wants of target markets and delivering the desired satisfactions more
effectively and efficiently than competitors do.
Societal Marketing Concept
The idea that the organization should determine the needs, wants, and interests of target markets and
deliver the desired satisfactions more effectively and efficiently than competitors in a way that
maintains or improves the consumer’s and society’s well – being.
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Marketing Mix
▪ "Marketing mix" is a general phrase used
to describe the different kinds of choices
organizations have to make in the whole
process of bringing a product or service
to market. • The 4Ps is one way probably
the best-known way of defining the
marketing mix, and was first expressed in
1960 by E J McCarthy.
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▪ PRODUCT • Refers to the item actually being sold. • The product must deliver a
minimum level of performance; otherwise even the best work on the other elements
of the marketing mix won't do any good.
▪ PRICE • Refers to the value that is put for a product. • It depends on costs of
production, segment targeted, ability of the market to pay, supply - demand and a
host of other direct and indirect factors. • There can be several types of pricing
strategies, each tied in with an overall business plan. • Pricing can also be used a
demarcation, to differentiate and enhance the image of a product.
▪ PLACE • Refers to the point of sale. • In every industry, catching the eye of the
consumer and making it easy for them to buy it is the main aim of a good distribution
or 'place' strategy. • The mantra of a successful retail business is 'location, location,
location’.
▪ PROMOTION • This refers to all the activities undertaken to make the product or
service known to the user and trade. • This can include advertising, word of mouth,
press reports, incentives, commissions and awards to the trade. • It can also include
consumer schemes, direct marketing, contests and prizes. .
The Marketing Process
A simple model of the marketing process:
Understand the marketplace and customer needs and
wants.
Design a customer-driven marketing strategy.
Construct an integrated marketing program that delivers
superior value.
Build profitable relationships and create customer delight.
Capture value from customers to create profits and
customer quality.
Types of Market Environment
Micro Environment: these are internal factors, which the organization can control.
Suppliers
Shareholder
Customer
Competitor
R & D (Research and Development)
employees
Macro Environment: (PEST factors): these are external forces which the organization
does not have direct control over these factors. PEST (Political, Economical, Social and
Technological).
Political
Socio cultural
Technology
Demography
Economical
Market Segmentation
-the subdividing of market into homogenous sub sections of customers,
where any sub section may conceivably be selected as a market target to
be reached with a distinct marketing mix.
Targeting
-It involves making decision about which part of the market an
organization wishes to focus on.
-Consists of a set of buyers who share common needs or characteristics
that the company decides to serve
-The process of evaluating each market segment’s attractiveness and
selecting one or more segments to enter.
Evaluating a segment for targeting :
• Has sufficient current and potential sales and profits
• Has the potential for sufficient future growth
• Is not over-competitive
• Does not have excessive barriers or costs to entry or exit
• Has some relatively unsatisfied needs that the company can serve
particularly well.
Undifferentiated Marketing: Differentiated Marketing: Concentrated Marketing Micro-Marketing
when a firm produces only one when a firm produces (niche marketing): A market coverage
product or product line and numerous products and when a firm commits all of its strategy in which the
promotes it to all customers promotes them with a marketing resources to serve firm tailors its products
with a single marketing mix – different marketing mix a single market segment – and marketing
Sometimes called mass designed to satisfy smaller Attractive to small firms with programs to suit the
marketing – Much more segments – Tends to raise limited resources and to firms tastes of specific
common in the past costs – Firms may be forced offering highly specialized individuals or locations
to practice differentiated goods and services
marketing to remain
competitive
Positioning
Developing a specific marketing mix to influence potential customers’ overall perception of a brand,
product line, or organization in general. The process of creating an image for a product in the mind of
target customers. The place a product, brand, or group of products occupies in consumers’ minds
relative to competing offerings.
Choosing and Implementing a positioning
Strategy:
1. Identifying possible competitive
advantages
• Company can position itself as
providing superior value either by low price
or by providing more benefits to justify
higher prices
• Deliver the promised quality and
service
2. Selecting the right competitive
advantages
• How many differences to promote ?
• Best quality, best services, lowest
price advance technology
• Which differences to promote?
3. Communicating and delivering the
chosen position
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Marketing Strategies in Digital Age
Buyer Benefits of E-Commerce: Seller Benefits of E-Commerce:
▫ Convenience ▫ Relationship building
▫ Easy and private ▫ Reduced costs
▫ Greater product access/selection ▫ Increased speed and efficiency
▫ Access to comparative information ▫ Flexibility
▫ Interactive and immediate ▫ Global access
Developing market strategies and plans
• Identify potential long-run opportunities, given
its market experience and core competencies
Developing market strategies and plans
Capturing marketing insights Connecting with
customers Building strong brands Creating value
Delivering value Communicating value Creating Connecting with customers
successful long-term growth • Create value for its chosen target markets and
develop strong, profitable, long- term
relationships with customers by understanding
consumer markets.
• Gain a full understanding of how organizational
Capturing marketing insights buyers buy. It needs a sales force well trained in
• Develop a reliable marketing information system presenting product benefits. Developing market
to closely monitor its marketing environment so it strategies and plans Capturing marketing insights
can continually assess market potential and Connecting with customers Building strong
forecast demand. brands Creating value Delivering value
• Develop a dependable marketing research Communicating value Creating successful long-
system Developing market strategies and plans term growth
Capturing marketing insights Connecting with
customers Building strong brands Creating value
Delivering value Communicating value Creating
successful long-term growth
Building Strong Brands Creating Value
• Divide the market into major market segments, • Differentiate the service of product (the tangible
evaluate each one, and target those it can best offering to the market, which includes the product
serve quality, design, features, and packaging) to gain a
• Understand the strengths and weaknesses of the competitive advantage
brand as customers see it • Decide on wholesale and retail prices, discounts,
• Consider growth strategies while also paying allowances, and credit terms.
close attention to competitors, anticipating their • Price should match well with the offer’s perceived
moves and knowing how to react quickly and value; otherwise, buyers will turn to competitors’
decisively. Developing market strategies and products. Developing market strategies and plans
plans Capturing marketing insights Connecting Capturing marketing insights Connecting with
with customers Building strong brands Creating customers Building strong brands Creating value
value Delivering value Communicating value Delivering value Communicating value Creating
Creating successful long-term growth successful long-term growth
Delivering Value
• Deliver the value embodied in products and services to the
target market.
• Channel activities include those the company undertakes to
make the product accessible and available to target
customers. Developing market strategies and plans Capturing
marketing insights Connecting with customers Building
strong brands Creating value Delivering value Communicating
value Creating successful long-term growth
Communicating Value
• Develop an integrated marketing communication program that maximizes the individual and
collective contribution of all communication activities
• Set up mass communication programs consisting of advertising, sales promotion, events, and public
relations
• Tap into online, social media, and mobile options to reach consumers whenever and wherever it may
be appropriate• Plan personal communications, in the form of direct and database marketing, as well
as hire, train, and motivate salespeople Developing market strategies and plans Capturing marketing
insights Connecting with customers Building strong brands Creating value Delivering value
Communicating value Creating successful long-term growth
Creating Successful Long Term Growth
• Build a marketing organization capable of responsibly implementing the marketing plan
• Utilize feedback and control to understand the efficiency and effectiveness of marketing activities and
how they can be improved. Developing market strategies and plans Capturing marketing insights
Connecting with customers Building strong brands Creating value Delivering value Communicating
value Creating successful long-term growth
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References
▪ https://www.slideshare.net/versatileBschool/marketing-management-45052508
▪ https://www.slideshare.net/yatinsharma712/marketing-management-complete-ppt
▪ https://www.slideshare.net/ShaliniShetty3/introduction-to-marketing-management-72210724
▪ https://www.slideshare.net/PeleZain/chapter-1-marketing-management-122697544
▪ https://www.slideshare.net/gihanaboueleish/market-opportunity-analysis-14781657
▪ https://www.slideshare.net/jags009/chapter-4-segmentation-targeting-positioning
▪ https://slideplayer.com/slide/12580687/
