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Course Outline

Introduction to Marketing Management Marketing Segmentation and Targeting Major Marketing Mix Decisions Competitive advantage Marketing Research SWOT

Marketing Plan

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What is Marketing Management?

Marketing management is the art and science

ofchoosing target markets,getting, keeping, and growing customers

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Marketers F.A.Q.s

1.Which market segment's) to serve?2.How can we differentiate our product /

service?3.How can we grow our business?4.How can we maximize the value from our

customer relationship?5.How can we maximize the effectiveness ofour marketing expenditures?

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What is Marketed?

Goods Services Events

Experiences Persons

Places Properties Organizations

Information Ideas

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The Role of Marketing in the Company

The customer is the focal point and marketingis the integrative function

Customer

Marketing

Production

Humanresource

s Finance

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Why to Make Market Research

Forecast Sales and Cost Understand Customers, Competitors and

your company

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Questions of Market Research

Who will be your customers ? What will they want ? Why will they buy from you ( Not from

Competitors) ? How much will you sell in next 12 month? Will you achieve your business goals?

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Two Approaches To Segmentation

a) segment on the basis ofcustomers

characteristics, then examine possible differencesin market response;

b) segment on the basis ofmarket response or

customer needs, then examine possible differencesin customer characteristics. An example of thisapproach: segment on light or heavy use of theproduct; then research the characteristics of eachgroup (segment)

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Bases for Segmenting ConsumerMarkets

Occasions or events,Benefits,, readiness tobuy

Behavioral

Geographi

cRegion, City:Size, Density, Climate

Demographi

cAge, Gender, Family size,Income ...

Lifestyle, Personality, Values

Psychographic

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Measurable

Acce

ssible

Substantial

Differential

Segments must be large orprofitable enough to serve.

Segments can be

effectively reachedand served.

Size, purchasing power,profiles of segments can

be measured.

Segments must responddifferently to differentmarketing mix elements& actions.

Effective Segmentation (common needs,competitive edge within the segment)

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II- MAJOR MARKETINGMIX DECISIONS (4 Ps)

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The Four Ps

MarketingMix

Product

Price Promotion

Place

The Four Cs

CustomerSolution

CustomerCost

Communication

Conven-ience

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Competitive Advantage

Competitive advantage is simply :Customers think Youare better than yourCompetitors

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Competitive Strategy: Three Questions

Where to compete? (In which segment / region)

When to compete? (strategic windows of

opportunity e.g. the introduction of pre-paidmobile card by the second operator)

How to compete?

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Marketing Research

Collect Data :1- Desk Research2-Talking to people

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Desk Research: Sources

Libraries Newspaper Marketing Reports Industry reports Internal Sources Bank Reports Trade Magazines Industry institutes Trade Shows Chamber of Commerce Suppliers Government Statistics Internet

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Talking to People

- Decide:What to SayWho to AskHow to Ask Design the Questionnaire Modify the Questionnaire

Start the Questionnaire Analyze the Answer

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Good Marketing Research

Is scientific Is creative

Uses multiple methods Acknowledges the cost & value of

information

Maintains healthy skepticism Is ethical

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SWOT analysis

External Analysis Opportunities Threats

Internal Analysis

Strengths Weaknesses

Use check-listsLook for interactions among internal and external

factors.

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Threat Matrix

1

4

2

3

High

Low

High

Low

Seriousness

Probability ofOccurrence

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Internal Analysis: Strengths &Weaknesses (actual and potential)

Marketing and customer equity

Finance

Manufacturing / operations

Organization

Focus on those S&Ws that have the greatestinteraction with O&T. Describe those interactions.

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STRENGTHS..

..

WEAKNESSES

OPPORTUNITIES..

STRATEGIES to use

strengths to exploitopportunities

STRATEGIES to

overcome weaknesses toenable the organizationto exploit opportunities

THREATS...

STRATEGIES to usestrengths to deal withthreats

STRATEGIES toovercome weaknesses toenable the organizationto deal with threats

SWOT ANALYSISConclusions

Internal

External

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Marketing Plan

Business Objective Target Market Your Customer Need

SWOT Competitors Analysis Sales Forecast