Marketing Management

• ​The Scope of Marketing

  • ​What is marketing ?

    • ​Meeting needs profitably

    • An organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders

    • ​The art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customSuemmrarvizead blyuwienan.ci@gmail.com 3

  • ​What is marketed?

    • ​Goods

    • ​Services

    • ​Experience

    • ​Events

    • ​Persons

    • ​Places

    • ​Properties

    • ​Organizations

    • ​Information

    • ​Ideas

  • ​Who markets?

    • ​Key customer markets: consumer, business, global, and nonprofit.

    • ​Marketplace: physical

    • ​Marketspace: digital

    • ​Metamarket: a cluster of complementary P&S, closely related in the minds of consumers, spread across a diverse set of industries

    • ​Marketers market to Prospects

    • ​Marketers do Demand management: seek to influence the level, timing & composition of demand

  • ​New Orientation

    • ​Holistic marketing concept

      • ​everything matters

      • ​4 components: relationship marketing, integrated marketing, internal marketing, and social responsibility marketing.

      • ​4 Ps (seller) of marketing mix: Product, Price. Place, Promotion

      • ​4 Cs (customer): customer's solution, Cost, Convenience, Communication

• ​Shift in Marketing Management

  • ​Marketing does Marketing ==> Everyone does Marketing

  • ​Organizing by Product units ==> by Customer segments

  • ​Emphasizing tangible assets ==> intangible assets

  • ​Building brands through advertising ==> through performance & integrated communications

  • ​Focusing on profitable transactions ==> on customer lifetime value

  • ​Focusing on gaining market share ==> on building customer share

  • ​Attracting customer through stores & salespeople ==> making products available online

• ​10 Rules of Radical Marketing

  • ​CEO must own the marketing function: no delegation

  • ​Marketing department must start small and flat: not allow layers of management between them and the market.

  • ​Face-to-face with customers: direct interaction

  • ​Use market research cautiously: prefer grassroots techniques

  • ​Hire only passionate missionaries

  • ​Love and respect customers as individuals, not as numbers

  • ​Create a community of consumers unified by certain brands

  • ​Rethink the marketing mix: e.g. short, targeted ad campaigns

  • ​Celebrate common sense and compete with larger competitors through fresh and different marketing ideas

  • ​Be true to the brand: brand integrity & quality