Download mba marketing ch 1

MARKETING
WELCOME
Assignment Guidelines
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Introduction
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
Bibliography
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 &
Loyalty.
Learning Objectives
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Analyse Consumer & Business Markets
Market Segments & Targets
Branding
Dealing with Competitors
Product Awareness
Pricing Strategies
Learning Objectives
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Designing & Managing Services
Networks, Channels & Intermediaries
Integrated Marketing Communication
Introducing New Market Offerings
Global Marketing
Holistic Marketing
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
PRODUCT
• Quality
Durability
• Design
Features
• Brand Name
Packaging
• Sizes
Services
• Warranties
Returns
• Product Variety
PRICE
• List price
• Discounts
• Allowances
• Payment Terms
• Credit Terms
Branding
(P274)
• Names that are recognised, trusted and
relied upon.
• Ensuring that one’s products have a Brand
Name
• Perceived quality/value.
Marketing Mix - Four P’s
Product - Price – Promotion – Position
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Promotion
Sales Promotion
Advertising
Sales Force
Public Relations
Direct Marketing
• Place
• (MORE THAN PHYSICAL
SPOT!)
• Place in Consumers
“EYE”
• 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
deal
• 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
clients?
• DISCUSSION
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
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(P414)
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
(P62)
• Merge Marketing ideas around the 4 P’s