Transcript Marketing Management - marketing-lessons

Marketing Management
Lecture Lesson
By
Chinmay Das
Chinmay Das, Mechanical
Engineering, ABIT, Cuttack
Syllabus
Module – I (10 hours)
 Marketing Management: Concept, Process, Functions and relevance
in the current context.
 Marketing Environment: Elements of micro and macro environment
 Competition Analysis: Factors contributing to competition, porter’s five
forces model, Identifying and analyzing competitors.
 Marketing Planning : Exploring Opportunity, Product –market selection,
Marketing Planning Process.
 Market Research and Information Systems: Research Process, The
Internet and World Wide Web based Information collection and
processing, Database, Data Warehouses and Data Mining, Global
Market Research.
 Consumer Behavior: Factors influencing consumer behavior,
consumer decision process. Organizational buying behavior.
Chinmay Das, Mechanical
Engineering, ABIT, Cuttack
Syllabus
Module II (10 hours)
 Market Segmentation, Targeting and Positioning: Definition, Bases of
segmenting consumer and Industrial markets. Target Market
strategies: Market Positioning.
 Market Demand Forecasting: Key Terms, Forecasting Tools: Short
term tools: Moving average and Exponential smoothing methods,
Long-term forecasting Tools: Time series analysis, Econometrics
methods, Qualitative tools : Buying Intention Survey, Sales Force
Opinion and Delphi Techniques.
 Product Planning : Product Life Cycle, New Product Development
Process, Branding
 Strategy, Positioning a Brand, Brand Equity, Packaging and Labeling,
Product-mix and Product Line, Planned Obsolescence.
Chinmay Das, Mechanical
Engineering, ABIT, Cuttack
Syllabus
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Module – III (10 hours)
Pricing Decision: Objectives and Factors influencing pricing, Pricing
method and strategies.
Integrated Marketing Communication (IMC)- Concept of IMC, the
marketing communication process, Promotion Mix, elements of
promotion mix, Direct marketing.
Channels of Distributions: Types of intermediaries, functions of
distribution channels,
channel levels, Designing Distribution Channels, Physical Distribution,
Supply Chain
Management (Basic only).
Trends in Marketing: Green Marketing, Customer Relationship
Management, E-marketing, Rural Marketing and Service Marketing
(concepts only)
Chinmay Das, Mechanical
Engineering, ABIT, Cuttack
Study Materials
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Lecture notes of Chinmay Das
Text Book:
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1. Etzel , Walker ,Stanton and Pandit, Marketing, 14/e, Tata McGraw Hill.
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2. Saxena, “Marketing Management” Tata McGraw Hill, 4/e.
Reference
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1. Grewal, Levy, ‘Marketing’ Tata McGraw Hill, special Indian edition.
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2. Karunakaran “Marketing Management”, Himalaya Publishing House, 2010/e.
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3. Kotler, Keller,Koshy and Jha, “Marketing Management”, 13/e, Pearson
Education.
Online Resources:
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Website of Chinmay Das
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Wikipages at mechanical.abit-wikispaces.com
Chinmay Das, Mechanical
Engineering, ABIT, Cuttack
What do you mean by
Marketing?
Chinmay Das, Mechanical
Engineering, ABIT, Cuttack
Fundamental Concept
One can obtain product through anyone of
below mentioned processes
 Self Production
 Beg, Burrow, Steal or Coerce
 Exchange
Chinmay Das, Mechanical
Engineering, ABIT, Cuttack
Fundamental Concept
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Marketing can occur any time a person or
organisation strives to exchange something
of value with another person or organisation.
The core of marketing is a transaction or
exchange.
It consists of activities designed to generate
and facilitate exchanges intended to satisfy
human or organisational needs or wants.
Chinmay Das, Mechanical
Engineering, ABIT, Cuttack
Preconditions
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Two or more people or organisation must be
involved, and each must have needs or wants to be
satisfied.
Each party must have something of value to
contribute in the exchange, and each must believe
that it will benefit from the exchange.
The parties to the exchange must be involved
voluntarily.
The parties must communicate with each other
( even through third party) for awareness and
information.
Chinmay Das, Mechanical
Engineering, ABIT, Cuttack
Some Definitions
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It is a total system of business activities designed to
plan, price, promote and place want satisfying
products to target markets in order to achieve
organisational objectives.
Etzel, Walker, Stanton, Pandit
Marketing is the social process by which individuals
and organizations obtain what they need and want
through creating and exchanging value with others.
Kotler and Armstrong (2010)
Chinmay Das, Mechanical
Engineering, ABIT, Cuttack
Some Definitions
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Marketing is the management process for
identifying, anticipating and satisfying customer
requirements profitably.
The Chartered Institute of Marketing (CIM).
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Marketing is the activity, set of institutions, and
processes for creating, communicating, delivering,
and exchanging offerings that have value for
customers, clients, partners, and society at large.
American Marketing Association
Chinmay Das, Mechanical
Engineering, ABIT, Cuttack
Evolution of Marketing
Product Orientation Stage
 Focus on quality and quantity of outputs
 Customers would seek out and buy
reasonably priced, well made products.
 Demand is more than supply
 Focus is on efficiency and cost control
 No need to worry about customer’s wants
(necessity items)
Chinmay Das, Mechanical
Engineering, ABIT, Cuttack
Evolution of Marketing
Sales-Orientation Stage
 Customers have limited resources and
numerous options.
 How to sale output?
 Advertising consumes large share of
resource
 Hard selling, Unfair practice.
Chinmay Das, Mechanical
Engineering, ABIT, Cuttack
Sales-Orientation Stage
Firms that follow this philosophy focus on "pushing"
the product using advertising and promotion.
Marketing is not selling: selling is similar to pushing,
and marketing is more like pulling. A firm that
promotes a product heavily after it is manufactured is
in danger of creating a dissatisfied customer. People
are very likely to be disappointed in the product’s
performance. A dissatisfied customer is likely to
complain to ten others about a bad experience with a
product.
Chinmay Das, Mechanical
Engineering, ABIT, Cuttack
Evolution of Marketing
Market Orientation Stage
 If a firm wants to achieve its goals it has to focus on
satisfying the needs of its customers. These goals do
not necessarily have to relate to profit earned by the
organisation. Libraries, politicians, colleges,
hospitals, and many other kinds of organizations
should be marketing-oriented. If a firm focuses on
satisfying the needs of its customers, it does not
have to "push" its product. The public will demand
the product and "pull" it through the channel of
distribution.
Chinmay Das, Mechanical
Engineering, ABIT, Cuttack
Evolution of Marketing
The marketing concept is based on three
beliefs
 Customer orientation
 Coordinated activities
 Organisational Performance Objectives
Chinmay Das, Mechanical
Engineering, ABIT, Cuttack
Evolution of Marketing
Product Concept Stage
 Focusing too much on one’s product and trying to
make it the best-performing product in the market via
improvements can also be dangerous.
 The public does not want rail transportation, it wants
fast, inexpensive, and convenient transportation.
 Much of their business was taken away by newer
modes of travel (planes stole much of their
passenger business; planes and trucks took away a
great deal of their freight shipping business).
Chinmay Das, Mechanical
Engineering, ABIT, Cuttack
Evolution of Marketing
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Consumers want energy, not necessarily oil;
education, not necessarily in classrooms;
communication, not necessarily by
telephone; music, not necessarily on
cassettes; and entertainment, not necessarily
films or television.
It is dangerous to define one's business too
narrowly the way the railroads did.
Chinmay Das, Mechanical
Engineering, ABIT, Cuttack
Product Concept Stage
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Marketing myopia is a term coined by
Theodore Levitt .
Chinmay Das, Mechanical
Engineering, ABIT, Cuttack
Evolution of Marketing
Societal Marketing Concept
 Win-Win situation for all stake holders
 Marketing Strategy compatible with Social
Responsibility
 This requires more time, technology and skill
Chinmay Das, Mechanical
Engineering, ABIT, Cuttack
Implementation of Marketing Concepts
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Customer Orientation
- Relationships
- Mass customization
Coordinated Marketing Activities
-Quality
- Value creation
Organisational Objectives
- Performance objectives
Chinmay Das, Mechanical
Engineering, ABIT, Cuttack
A Facebook Collection
A Professor explained Marketing to MBA students
1. You see gorgeous girl in party, you go to her & say I am rich
marry me That's Direct Marketing.
2. You attend party & your friend goes to a girl & pointing at you
tells her. He' is very rich, marry him - That's Advertising.
3. Girl walks to you & says u are rich, ca...n u marry me? "That's
Brand Recognition"
4. You say I m very rich marry me & she slaps u "That's Customer
Feedback"
5. You say I m very rich marry me & she introduces you to her
husband "That's Demand & Supply Gap"
6. Before you say I m rich, marry me, your wife arrives That's
Restriction from Entering New Market.
Chinmay Das, Mechanical
Engineering, ABIT, Cuttack
Thank You.
Chinmay Das, Mechanical
Engineering, ABIT, Cuttack