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MARKETING MANAGEMENT
12th edition
1
Defining Marketing
for the 21st Century
Kotler
Keller
Chapter Questions
Why
is marketing important?
What is the scope of marketing?
What are some of the fundamental
marketing concepts?
How has marketing management
changed?
What are the tasks necessary for
successful marketing management?
1-2
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.
1-3
What is Marketing Management?
Marketing management is the
art and science
of choosing target markets
and getting, keeping, and growing
customers through
creating, delivering, and communicating
superior customer value.
1-4
For an exchange to occur…..
There are at least two parties.
Each party has something that might be of
value to the other party.
Each party is capable of communication
and delivery.
Each party is free to reject the exchange
offer.
Each party believes it is appropriate or
desirable to deal with the other party.
1-5
What is Marketed?
Goods
Services
Events
Experiences
Persons
Places
Properties
Organizations
Information
Ideas
1-6
Demand States
Negative
Nonexistent
Latent
Declining
Irregular
Unwholesome
Full
Overfull
1-7
Key Customer Markets
Consumer markets
Business markets
Global markets
Nonprofit/Government markets
1-8
The marketplace isn’t what it used to be….
Changing technology
Globalization
Deregulation
Privatization
Empowerment
Customization
Convergence
Disintermediation
1-9
Company Orientations
Production
Product
Selling
Marketing
1-10
Marketing Mix and the Customer
Four Ps
Product
Price
Place
Promotion
Four Cs
Customer solution
Customer cost
Convenience
Communication
1-11
Core Concepts
Needs, wants, and
demands
Target markets,
positioning,
segmentation
Offerings and brands
Value and
satisfaction
Marketing channels
Supply chain
Competition
Marketing
environment
Marketing planning
1-12
I want it, I need it…..
5 Types of Needs
Stated needs
Real needs
Unstated needs
Delight needs
Secret needs
1-13
Marketing Management Tasks
Developing
marketing strategies
Capturing marketing
insights
Connecting with
customers
Building strong
brands
Shaping market
offerings
Delivering value
Communicating
value
Creating long-term
growth
1-14
MARKETING MANAGEMENT
12th edition
3
Gathering Information
and Scanning the
Environment
Kotler
Keller
Chapter Questions_1
What
are the components of a
modern marketing information
system?
What are useful internal records?
What is involved in a marketing
intelligence system?
1-16
Chapter Questions_2
What
are the key methods for
tracking and identifying opportunities
in the macroenvironment?
What are some important
macroenvironment developments?
1-17
MIS Probes for Information
What decisions do you regularly make?
What information do you need to make these
decisions?
What information do you regularly get?
What special studies do you periodically
request?
What information would you want that you are
not getting now?
What are the four most helpful improvements
that could be made in the present marketing
information system?
1-18
Internal Records
Order-to-Payment Cycle
Sales Information System
Databases, Warehousing, Data mining
Marketing Intelligence System
1-19
Steps to Improve Marketing Intelligence
Train and motivate sales force
Motivate channel members to share intelligence
Network externally
Utilize customer advisory panel
Utilize government data resources
Purchase information
Collect customer feedback online
1-20
Needs and Trends
Fad
Trend
Megatrend
1-21
10 Megatrends Shaping the
Consumer Landscape
Aging boomers
Delayed retirement
Changing nature of
work
Greater educational
attainment
Labor shortages
Increased immigration
Rising Hispanic
influence
Shifting birth trends
Widening geographic
differences
Changing age
structure
1-22
Environmental Forces
Demographic
Economic
Socio-Cultural
Natural
Technological
Political-Legal
1-23
Population and Demographics
Size
Growth rate
Age distribution
Ethnic mix
Educational
levels
Household
patterns
Regional
characteristics
Movement
1-24
Economic Environment
$ Purchasing Power
$ Income Distribution
$ Savings Rate
$ Debt
$ Credit Availability
1-25
Types of Industrial Structures
Industrial economies
Industrializing economies
Raw-material exporting economies
Subsistence economies
1-26
Social-Cultural Environment
Views of themselves
Views of others
Views of organizations
Views of society
Views of nature
Views of the universe
1-27
Natural Environment
Shortage of raw materials
Increased energy costs
Anti-pollution pressures
Governmental protections
1-28
Technological Environment
Pace of change
Opportunities for innovation
Varying R&D budgets
Increased regulation of change
1-29
MARKETING MANAGEMENT
12th edition
4
Conducting
Marketing Research
and Forecasting Demand
Kotler
Keller
Chapter Questions
What
constitutes good marketing
research?
What are good metrics for measuring
marketing productivity?
How can marketers assess their
return on investment of marketing
expenditures?
How can companies more accurately
measure and forecast demand?
1-31
Marketing Research Defined
Systematic design, collection,
analysis, and reporting of data
and findings relevant to a specific
marketing situation facing a company.
1-32
Types of Marketing Research Firms
Syndicated
Custom
Specialty-line
1-33
The Marketing Research Process
Define the problem
Develop the research plan
Collect information
Analyze information
Present findings
Make decision
1-34
Step 1
Define the problem
Specify decision alternatives
State research objectives
1-35
Step 2
Data sources
Research approach
Research instruments
Sampling plan
Contact methods
1-36
Research Approaches
Observation
Focus group
Survey
Behavioral Data
Experimentation
1-37
Research Instruments
Questionnaires
Qualitative Measures
Mechanical Devices
1-38
Questionnaire Do’s and Don’ts
Ensure
questions are
free of bias
Make questions simple
Make questions specific
Avoid jargon
Avoid sophisticated
words
Avoid ambiguous words
Avoid negatives
Avoid hypotheticals
Avoid words that could
be misheard
Use response bands
Use mutually exclusive
categories
Allow for “other” in fixed
response questions
1-39
Question Types - Dichotomous
In arranging this trip, did you contact American
Airlines?
Yes No
1-40
Question Types – Multiple Choice
With whom are you traveling on this trip?
No one
Spouse
Spouse and children
Children only
Business associates/friends/relatives
An organized tour group
1-41
Question Types – Likert Scale
Indicate your level of agreement with the following
statement: Small airlines generally give better
service than large ones.
Strongly disagree
Disagree
Neither agree nor disagree
Agree
Strongly agree
1-42
Question Types – Semantic Differential
American Airlines
Large ………………………………...…………….Small
Experienced………………….………….Inexperienced
Modern………………………..………….Old-fashioned
1-43
Question Types – Importance Scale
Airline food service is _____ to me.
Extremely important
Very important
Somewhat important
Not very important
Not at all important
1-44
Question Types – Rating Scale
American Airlines’ food service is _____.
Excellent
Very good
Good
Fair
Poor
1-45
Question Types –
Intention to Buy Scale
How likely are you to purchase tickets on American
Airlines if in-flight Internet access were available?
Definitely buy
Probably buy
Not sure
Probably not buy
Definitely not buy
1-46
Question Types –
Completely Unstructured
What is your opinion of American Airlines?
1-47
Question Types – Word Association
What is the first word that comes to your mind
when you hear the following?
Airline ________________________
American _____________________
Travel ________________________
1-48
Question Types – Sentence Completion
When I choose an airline, the most important
consideration in my decision is:
________________________________________
________________________________________
________________________________________
________________________________________
________________________________________
________________________________________.
1-49
Question Types – Story Completion
“I flew American a few days ago. I noticed that the
exterior and interior of the plane had very bright
colors. This aroused in me the following thoughts
and feelings.” Now complete the story.
________________________________________
________________________________________
________________________________________
________________________________________
________________________________________
________________________________________
1-50
Question Types –
Picture (Empty Balloons)
1-51
Qualitative Measures
Shadowing
Behavior mapping
Consumer journey
Camera journals
Extreme user interviews
Storytelling
Unfocused groups
1-52
Mechanical Devices
Galvanometers
Tachistoscope
Eye cameras
Audiometers
GPS
1-53
Sampling Plan
Sampling unit: Who is to be surveyed?
Sample size: How many people should be
surveyed?
Sampling procedure: How should the
respondents be chosen?
1-54
Types of Samples
Probability
Simple random
Stratified random
Cluster
Nonprobability
Convenience
Judgment
Quota
1-55
Contact Methods
Mail questionnaire
Telephone interview
Personal interview
Online interview
1-56
Characteristics of Good
Marketing Research
Scientific method
Research creativity
Multiple methods
Interdependence
Value and cost of information
Healthy skepticism
Ethical marketing
1-57
Table 4.4 Marketing Metrics
External
Awareness
Market share
Relative price
Number of complaints
Customer satisfaction
Distribution
Total number of
customers
Loyalty
Internal
Awareness of goals
Commitment to goals
Active support
Resource adequacy
Staffing levels
Desire to learn
Willingness to change
Freedom to fail
Autonomy
1-58
Table 4.5 Sample CustomerPerformance Scorecard Measures
% of new customers to average #
% of lost customers to average #
% of win-back customers to average #
% of customers in various levels of satisfaction
% of customers who would repurchase
% of target market members with brand recall
% of customers who say brand is most preferred
1-59
Tools to Measure Marketing Plan
Performance
Sales analysis
Market share analysis
Expense-to-Sales Analysis
Financial Analysis
1-60
Sales Analysis
Sales-Variance Analysis
Micro-Sales Analysis
1-61
Market Share Analysis
Overall market share
Served market share
Relative market share
1-62
Marketing-Profitability Analysis
Step 1: Identifying Functional Expenses
Step 2: Assigning Functional Expenses to
Marketing Entities
Step 3: Preparing a Profit-and-Loss Statement
for each Marketing Entity
1-63
Distinguishing Types of Costs
Direct
Traceable common
Nontraceable common
1-64
The Measures of Market Demand
Potential market
Available market
Target market
Penetrated market
1-65
Estimating Current Demand
Total market potential
Area market potential
Market
buildup method
Multiple-factor index method
Brand development index
1-66
Estimating Future Demand
Survey of Buyers’ Intentions
Composite of Sales Force Opinions
Expert Opinion
Past-Sales Analysis
Market-Test Method
1-67
Purchase Probability Scale
Do you intend to buy an automobile within
the next 6 months?
0.00 No
0.20 Slight possibility
0.40 Fair possibility
0.60 Good possibility
0.80 High possibility
1.00 Certain
1-68
MARKETING MANAGEMENT
12th edition
6
Analyzing
Consumer Markets
Kotler
Keller
Chapter Questions
How do consumer characteristics influence
buying behavior?
What major psychological processes
influence consumer responses to the
marketing program?
How do consumers make purchasing
decisions?
How do marketers analyze consumer
decision making?
1-70
What Influences Consumer Behavior?
Cultural factors
Social factors
Personal factors
1-71
Culture
The fundamental determinant of
a person’s wants and behaviors
acquired through socialization
processes with family
and other key institutions.
1-72
Subcultures
Nationalities
Religions
Racial groups
Geographic regions
Special interests
1-73
Fast Facts About American Culture
The average American
chews
300 sticks of gum a year
goes to the movies 9 times a year
takes 4 trips per year
attends a sporting event 7 times each year
1-74
Social Classes
Upper uppers
Lower uppers
Upper middles
Middle class
Working class
Upper lowers
Lower lowers
1-75
Characteristics of Social Classes
Within a class, people tend to behave
alike.
Social class conveys perceptions of
inferior or superior position.
Class may be indicated by a cluster of
variables (occupation, income, wealth).
Class designation is mobile over time.
1-76
Social Factors
Reference
groups
Family
Social
roles
Statuses
1-77
Reference Groups
Membership
Primary
Secondary
Aspirational
Dissociative
1-78
Family
Family of Orientation
Religion
Politics
Economics
Family of Procreation
Everyday buying behavior
1-79
Personal Factors
Age
Life cycle stage
Occupation
Wealth
Personality
Values
Lifestyle
Self-concept
1-80
Brand Personality
Sincerity
Excitement
Competence
Sophistication
Ruggedness
1-81
Key Psychological Processes
Motivation
Perception
Learning
Memory
1-82
Motivation
Freud’s theory
Maslow’s hierarchy of needs
Herzberg’s two-factor theory
1-83
Perception
Selective attention
Selective retention
Selective distortion
Subliminal perception
1-84
Figure 6.4 Consumer Buying Process
Problem recognition
Information search
Evaluation
Purchase decision
Postpurchase behavior
1-85
Sources of Information
Personal
Commercial
Public
Experiential
1-86
Non-compensatory Models of Choice
Conjunctive
Lexicographic
Elimination-by-aspects
1-87
Perceived Risk
Functional
Physical
Financial
Social
Psychological
Time
1-88
Other Theories of
Consumer Decision Making
Involvement
Elaboration
Likelihood Model
Low-involvement
marketing
strategies
Variety-seeking
buying behavior
Decision Heuristics
Availability
Representativeness
Anchoring and
adjustment
1-89
Mental Accounting
Consumers tend to…
Segregate
gains
Integrate losses
Integrate smaller losses with larger gains
Segregate small gains from large losses
1-90
MARKETING MANAGEMENT
12th edition
7
Analyzing
Business Markets
Kotler
Keller
Chapter Questions
What is the business market, and how does
it differ from the consumer market?
What buying situations do organizational
buyers face?
Who participates in the business-tobusiness buying process?
1-92
Chapter Questions
How do business buyers make their
decisions?
How can companies build strong
relationships with business customers?
How do institutional buyers and
government agencies do their buying?
1-93
Organizational Buying
Decision-making process by which
formal organizations establish the
need for purchased products and
services, and identify
evaluate, and choose among
alternative brands and suppliers.
1-94
Characteristics of Business
Markets
Fewer, larger buyers
Close suppliercustomer
relationships
Professional
purchasing
Many buying
influences
Multiple sales calls
Derived demand
Inelastic demand
Fluctuating demand
Geographically
concentrated buyers
Direct purchasing
1-95
Buying Situation
Straight rebuy
Modified rebuy
New task
1-96
The Buying Center
Initiators
Users
Influencers
Deciders
Approvers
Buyers
Gatekeepers
1-97
Of Concern to Business Marketers
Who are the major decision participants?
What decisions do they influence?
What is their level of influence?
What evaluation criteria do they use?
1-98
Types of Business Customers
Price-oriented
Solution-oriented
Gold-standard
Strategic-value
1-99
Handling Price-Oriented Customers
Limit quantity purchased
Allow no refunds
Make no adjustments
Provide no services
1-100
Purchasing Orientations
Buying
Procurement
Supply chain management
1-101
Product-Related Purchasing Processes
Routine products
Leverage products
Strategic products
Bottleneck products
1-102
Methods of e-Procurement
Websites organized using vertical hubs
Websites organized using functional hubs
Direct extranet links to major suppliers
Buying alliances
Company buying sites
1-103
Forms of Electronic Marketplaces
Catalog sites
Vertical markets
Pure play auction sites
Spot markets
Private exchanges
Barter markets
Buying alliances
1-104
Assessing Customer Value
Internal engineering
assessment
Field value-in-use
assessment
Focus-group value
assessment
Direct survey
questions
Conjoint analysis
Benchmarks
Compositional
approach
Importance ratings
1-105
Order Routine Specification and
Inventory
Stockless purchase plans
Vendor-managed inventory
Continuous replenishment
1-106
Desirable Outcomes of a B2B
transaction: OTIFNE
On time
In full
No error
1-107
Establishing Corporate Credibility
Expertise
Trustworthiness
Likeability
1-108
Factors Affecting
Buyer-Supplier Relationships
Availability of alternatives
Importance of supply
Complexity of supply
Supply market dynamism
1-109
Categories of Buyer-Seller
Relationships
Basic buying and
selling
Bare bones
Contractual
transaction
Customer supply
Cooperative systems
Collaborative
Mutually adaptive
Customer is king
1-110
Opportunism
Some form of cheating or
undersupply relative to an
implicit or explicit contract.
1-111