mm lecture 1 - marketing management
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Management
Marketing
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Management Introduction
Facilitator:Ahmed Mohamed
Email: ammadey695@gmail.com
Tel: 7792642
Sessions
Saturday
Approach
Assessment
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What is themost successfulbrand of the past century?
Marketing Power!
What is the mostfamous
brand of the past century?
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Marketing Power!
In 1975 critics alleged that Coca Cola and Pepsi Cola are
identical drinks, with no meaningful differences
Pepsi responded with a blind test
At malls, shopping centers and other public locations, a Pepsi
representative sets up a table with two blank cups, one
containing Pepsi and one with Coke
Shoppers are encouraged to taste both colas, and then select
which drink they prefer. Then the representative reveals the two
bottles so the taster can see whether they preferred Coke or Pepsi
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Marketing Power!
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Marketing Power!
What do you think wasthe outcome?
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Marketing Power!
In the blind taste tests more consumers preferred the tasteof Pepsi to that of Coca-Cola
Pepsi claimed its Cola tasted better
Pepsi turned these tests into a memorable TV campaign
Pepsi began to outsell Coke in the US market
Similar secret tests by Coke revealed that life-long Coke
lovers picked Pepsi in the blind taste tests!
In 1983, Coke launched the New Coke with improved
taste
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Marketing Power!
Was the New Coke a
Success?
What Lessons can we
Learn?
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Was do you think ofCokes approach?
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Marketing Power!
Who learned the lessons?
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As soon as we started listening
to them, consumers responded,
increasing our sales from 9 billion
to 15 billion a yearSergio Zyman- Cokes CMO
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Importance of Marketing
Marketing is not a function, it is the whole
business seen from the customers point of
view. - Peter Drucker, management guru
Marketing is too important to be left to the
marketing department. -David Packard,
computer founder
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What is Marketing?
Marketing is human activity directed atsatisfying needs and wants
- Kotler
Themanagement process responsible for
identifying,anticipating andsatisfying
customer requirementsprofitably
- CIM
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What is Marketing?
Marketing is 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 American
Marketing Association Social perspective & Management perspective
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What is Marketed?
Goods Services
Events
Experiences
Persons
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Places
Properties
Organizations
Information
Ideas
Amarketer is someone seeking a response
(attention, purchase, vote, donation, etc.) from
another party called theprospect
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States of Demand
Negative- dislike
Non-existent- unaware/uninterested in the product
Latent- not addressed by an existing product
Declining- falling demand
Irregular- Seasonal (could be even daily)
Full- adequately buying
Overfull- Excess
Unwholesome- undesirable
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Markets
What is a Market?Market Place, Market Space, Metamarket- (spread across
diverse set of industries- e.g. Travel/tourism)
The Five Basic Markets:Manufacturers
Resource Markets
Intermediaries
Consumers
The Government
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Four Customer Markets:Consumer Markets
Business Markets
Global Markets
Non-profit &
Governmental Markets
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A Simple Marketing System
Industry
(a collection
of sellers)
Market
(a collection
of Buyers)
Goods/services
Money
Information
Communication
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Company Orientations...
Company Orientations Towards theMarket Place
Production concept
Product concept
Sales concept
Marketing concept
The Holistic Marketing
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The Production Concept
It holds that consumers prefer widely available and inexpensive
goods
Businesses concentrate on production efficiency, low cost, and mass
distribution (makes sense in developing countries such as China, e.g.PC manufacturing)
May work when:
The market is low cost and high turn over
There is high demand for products The firm has capacity for mass production
Buyers are sensitive to price
There is low marginal production cost
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Company Orientations...
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The Product Concept
Holds that consumers favor best-in-class products
(quality, performance, features)
Businesses concentrate on making superior products
and on encouraging innovation
What could be some of the benefits and shortcomings ofthis orientation?
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Company Orientations...
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The Selling Concept: Companies sell what it makes- do not make what it can sell?!
Practiced most aggressively with unsought goods, like
insurance. Profit through sales volume (low margin). Businessesinvest in distribution, sales effort, and promotion
Is this a realistic approach? When will it work?
What could be some of the benefits and drawbacks of this
orientation?
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Company Orientations...
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The Marketing Concept:A shift from product-centered (make-and-sell) to customer-centered
(sense-and-respond) philosophy
The job is not to find the right customers for your products, but the
right products for your customersIts about being effective in creating, delivering and communicating
customer value - profit through customer satisfaction. Build the
organization around the requirements of chosen customers
Reactive- focus on expressed needs
Proactive- probe & learn- anticipate
Total Market Orientation- practice both reactive & proactive
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Company Orientations...
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The Holistic Marketing Concept:
- Everything Matters- end-to-end marketing
Relationship marketing: develop deep, enduring relationships
with key parties (i.e. customers, suppliers, distributors, partners)
Integrated marketing: all marketing activities are coordinated
to maximize their joint effects (i.e. choose activities that reinforce
and complement each other)
Internal marketing: Also called workplace marketing.
Marketing must be pervasive throughout the company. Make sure
everyone thinks customer.
Socially responsible marketing: considers ethical,
environmental, legal and social context.
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Company Orientations...
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Holistic Marketing Concept
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Marketing Mix Components
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Fundamental Marketing Concepts
Needs, Wants & Demands
Segmentations, Targeting & Positioning
Offerings & Brands
Brand- offering from a known sources
Value & Satisfaction
Value: Costs & benefits to customers (Value triad = Quality,
Service & Price)
Satisfaction: Comparative judgement
Marketing Channels
Communication, distribution & Service channels
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Fundamental Marketing Concepts
Supply Chain Competition
Marketing Environment
Task Environment- immediate actors involved inproducing, distributing & promoting the offering-
suppliers, dealers, distributors, etc..
Broad Environment- PESTEL
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Selling Vs Marketing
Selling focuses on the needs of the seller; marketing onthe needs of the buyer. Selling is preoccupied with the need
of the seller to convert his product into cash; marketing
with the idea of satisfying the needs of the customers bymeans of the product and the whole cluster of offerings
associated with creating, delivering and consuming it
-Levitt: Marketing Myopia
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Marketing in Action..
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A Professor Explained to the students...
You see a gorgeous girl at a party..you go up to her and
say.. I am very rich, marry me!! * that s direct
marketing *
You are at a party with bunch of friends and see a
gorgeous girl... one of your friends goes up to her and
pointing at you, says... he is very rich, marry him
*that s Advertising*
You are at a party and see a gorgeous girl... She walks
up to you and says... You are very rich, marry me
*that s Brand Recognition*
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You see a gorgeous girl at a party..you go up to her and
get her telephone number... The next day you call and
say.. Hi,I am very rich, marry me!! * that s Tele-
marketing*
You are at a party and see a gorgeous girl.. You get up
and straighten your tie, you walk up to her and pour her
a drink, you open the door (of the car) for her, pick up
her bag when she drops it, offer her a ride and then
say...By the way, I am very rich... Will you marry
me?!! *that s Public Relations*
Marketing in Action..
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13 April 2011 Ahmed Mohamed 30
You see a gorgeous girl at a party..you go up to her and
say.. I am very rich, marry me!! She gives you a nice
hard slap on your face!* that s customer feedback!! *
You see a gorgeous girl at a party..you go up to her and
before you could say anything.. Another person comes
and tells her.. I am very rich, marry me!! and she
goes with him!!* that s competition eating into yourmarket share!! *
Marketing in Action..
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You see a gorgeous girl at a party..you go up to her and
say.. I am very rich, marry me!! and she introduces
you to her husband!! * that s demand &supply gap!! *
You see a gorgeous girl at a party..you go up to her and
before you could propose her.. your wife arrives...
*That s restriction for entering into new markets!! *
Marketing in Action..
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