MGT301 Principles of Lecture-9 Marketing

Summary of Lecture-8

Marketing Process

Analyzing marketing opportunities Selecting target markets Developing the marketing Mix Managing the marketing effort

DemographicEconomic Environment
M An ark al eti ys ng is

Marketing Intermediaries

TechnologicalNatural Environment
g tin g ke in ar n M la n P

Product

Suppliers

Place
g tin ke ol ar tr M Con

Target Price Consumers

Promotion
Im Ma pl rk em et en ing ta t io n

Publics

PoliticalLegal Environment

Competitors

ocial!ultural Environment

"nal#$ing marketing opportunities

changing environment opportunities and threats changing firm situation relative strengths and weaknesses Fit - match opportunities with firm s o!"ectives and resources #strengths$ Market %nformation System

The Marketing %nformation #stem

Marketing managers Analysis Planning Implementation Control Distributing in ormation Assessing in ormation needs

Marketing In ormation System

Developing in ormation
Internal records Marketing intelligence

Marketing environment Test markets Marketing channels Competitors

Marketing decision support analysis

Marketing research

Publics Macroenvironment orces

Marketing decisions and communication

electing Target Markets

Firm cannot satisfy everyone mass marketing Segment total market market segmentation &arget markets target marketing niche marketing

&eveloping the Marketing Mi'

Marketing Marketing Mix Mix

Product
Product Variety Quality Design Features Brand Name Packaging Sizes Services Warranties eturns

Place

Target Target Market Market

Price
$ist Price Discounts #llo'ances Payment Period !redit Terms

!"annels !overage #ssortments $ocations

Promotion
Sales Promotion #dvertising Sales Force Pu(lic elations Direct Marketing

%nventory Trans&ort

Managing the marketing effort

!ontents of a Marketing Plan

)xecutive Summary !urrent Marketing Situation T"reats and *&&ortunity #nalysis *(+ectives and %ssues Marketing Strategy #ction Programs Budgets !ontrols

Marketing %mplementation

Marketing Marketing Strategy Strategy

*rganizational Structure #ction Programs Decision and e'ard -uman esources !limate and !ulture

%m&lementation

Marketing Marketing Per,ormance Per,ormance

Marketing !ontrol Process

Set !oals

Measure Per,ormance

)valuate Per,ormance

Take !orrective #ction

To(a#)s Topics

Marketing Environment

Environment

All the actors and forces influencing the companys ability to transact business effectively with its target market. Includes . !icroenvironment - forces close to the company that affect its ability to serve its customers. !acroenvironment - larger societal forces that affect the whole microenvironment.

The Marketing Environment

!arketing "nvironment- consists of the actors and forces outside marketing that affect marketing managements ability to develop and maintain successful relationships with its target customers.

Demographic
Company Publics

Cultural

Economic
Suppliers

Company

Political Competitors

Customer s Intermediaries

"atural

Technological

The Microenvironment

Company Company Publics Publics

#orces #orces A A ecting ecting a a Company$s Company$s Ability Ability to to Serve Serve Customers Customers

Suppliers Suppliers

Competitors Competitors

Intermediaries Intermediaries

Customers Customers

The !ompan#)s Microenvironment

!ompan#)s %nternal Environment

#ompanys Internal "nvironment- functional areas inside a company that have an impact on the marketing departments plans.

D &

Production
M an u ac t

ce

Top Manage ment #i

ur in g
ting oun Acc

na n

Marketing

!arketing Intermediaries - help the company to promote$ sell$ and distribute its goods to final buyers.

Suppliers - provide the resources needed to produce goods and services. #ustomers - five types of markets that purchase a companys goods and services.

International Markets

Consumer Markets

Company Company
Government Markets Business Markets

Reseller Markets

#ompetitors - those who serve a target market with similar products and services.

%ublics - any group that perceives itself having an interest in a companys ability to achieve its ob&ectives.

T#pes of Pu*lics
nt e m n r ve lics o ! Pub

Citi'en Action Publics

(o Pu ca bl l ic s

al er en lic ! b Pu

#inanci al Publics

Me Pu dia bli cs

l r na Inte lics Pub

Company

Enough for to(a#+ + +

ummar#

The Marketing Environment

Demographic
Company

Cultural
Publics

Economic
Suppliers

Company
"atural

Political Competitors

Customer s Intermediaries

Technological

The Microenvironment

!ompan# !ompan# Pu*lics Pu*lics ,orces ,orces "ffecting "ffecting a a !ompan#)s !ompan#)s "*ilit# "*ilit# to to erve erve !ustomers !ustomers !ompetitors !ompetitors !ustomers !ustomers %nterme(iaries %nterme(iaries uppliers uppliers

Ne't-+

The Macroenvironment

&emographic &emographic

!ultural !ultural

,orces ,orces that that hape hape .pportunities .pportunities an( an( Pose Pose Threats Threats to to a a !ompan# !ompan#

Economic Economic

Political Political Technological Technological

Natural Natural

MGT301 Principles of Lecture-9 Marketing