Download mba marketing ch 1

yes no Was this document useful for you?
   Thank you for your participation!

* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project

Document related concepts

Pricing science wikipedia , lookup

Market analysis wikipedia , lookup

Ambush marketing wikipedia , lookup

Market segmentation wikipedia , lookup

Bayesian inference in marketing wikipedia , lookup

Price discrimination wikipedia , lookup

Darknet market wikipedia , lookup

Food marketing wikipedia , lookup

Multi-level marketing wikipedia , lookup

Pricing wikipedia , lookup

Perfect competition wikipedia , lookup

Grey market wikipedia , lookup

First-mover advantage wikipedia , lookup

Retail wikipedia , lookup

Marketing research wikipedia , lookup

Digital marketing wikipedia , lookup

Marketing communications wikipedia , lookup

Dumping (pricing policy) wikipedia , lookup

Guerrilla marketing wikipedia , lookup

Viral marketing wikipedia , lookup

Youth marketing wikipedia , lookup

Neuromarketing wikipedia , lookup

Direct marketing wikipedia , lookup

Market penetration wikipedia , lookup

Target audience wikipedia , lookup

Service parts pricing wikipedia , lookup

Marketing wikipedia , lookup

Marketing plan wikipedia , lookup

Pricing strategies wikipedia , lookup

Marketing mix modeling wikipedia , lookup

Street marketing wikipedia , lookup

Integrated marketing communications wikipedia , lookup

Green marketing wikipedia , lookup

Multicultural marketing wikipedia , lookup

Product planning wikipedia , lookup

Segmenting-targeting-positioning wikipedia , lookup

Sensory branding wikipedia , lookup

Target market wikipedia , lookup

Advertising campaign wikipedia , lookup

Marketing channel wikipedia , lookup

Global marketing wikipedia , lookup

Marketing strategy wikipedia , lookup

Assignment Guidelines
4 to 7 Headings based on KEY POINTS
Relevant to the title
As far as possible try to discuss theory AND link
it to an example to illustrate your point
Conclusion must link discussion/explanation to
the question
Technical Issues to be adhered to
Simple language, short sentences
Learning Objectives
After reading this chapter, you should be
able to:
• Know what Marketing is
• Develop Marketing Strategies & Plans
• Conduct Market Research
• Forecast Demand
• Create Customer Value, satisfaction &
Learning Objectives
Analyse Consumer & Business Markets
Market Segments & Targets
Dealing with Competitors
Product Awareness
Pricing Strategies
Learning Objectives
Designing & Managing Services
Networks, Channels & Intermediaries
Integrated Marketing Communication
Introducing New Market Offerings
Global Marketing
Holistic Marketing
• Identifying and meeting human needs
• Communicating to one’s target market
• Informing the target market about products
that one has
Marketing Mix - Four P’s
Product - Price – Promotion – Position
• Quality
• Design
• Brand Name
• Sizes
• Warranties
• Product Variety
• List price
• Discounts
• Allowances
• Payment Terms
• Credit Terms
• Names that are recognised, trusted and
relied upon.
• Ensuring that one’s products have a Brand
• Perceived quality/value.
Marketing Mix - Four P’s
Product - Price – Promotion – Position
Sales Promotion
Sales Force
Public Relations
Direct Marketing
• Place
• Place in Consumers
• Channels
• Coverage
• Locations
• Inventory
• Transport/Logistics
Market Research
• Determining if there is a market and if so
what size it is and how profitable it is
• Determining what market share each of
the players has
• Identifying niches in the market
• Identifying weak points of competitors
• Finding good linkages to get one’ product
to the market
Customer Value &
Satisfaction (P53)
• Buyer must have some sense of
satisfaction out of the product
• Buyer must feel that s/he gota good
• Quality
• Reliability
• Durability
• Spares availability
• Affordability
Analysing Markets
• Researching how big and profitable the
market is
• Who the competitors are
• How strong the competitors are
• How will they react?
• Is there a suitably profitable gap?
Market Segments and Targets
(P53 & 246)
• Are you marketing to everyone?
• Have you carefully selected your target
Services Marketing
• Selling intangibles is harder than tangibles
• The client needs to be made aware of
benefits (Policy)
• In not having a product to hold and use,
the client needs to be given good
treatment from the moment they “walk in”
Pricing Strategies
Consumer psychology & pricing
Pricing Objective (423)
Determine Demand
Estimate Costs
Analyse Competitors (Costs, prices, etc)
Select a Pricing Method
Networks, Channels (P54)
• Communication Channels
• Distribution Channels
• Service Channels (Warehouses etc)
Integrated Marketing
• Merge Marketing ideas around the 4 P’s