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Marketing: Building Blueprints for Business & Marketers Advertisers Many different types of marketers Packaged goods & Marketers Advertisers Many different types of marketers Packaged goods Durable Goods & Marketers Advertisers Many different types of marketers Packaged goods Durable Goods Services & Marketers Advertisers Many different types of marketers Packaged goods Durable Goods Services Retailers & Marketers Advertisers Many different types of marketers Packaged goods Durable Goods Services Retailers High Tech & Marketers Advertisers Many different types of marketers Packaged goods Durable Goods Services Retailers High Tech And more But they all have similar methodologies and organizations. & Marketers Advertisers This lecture covers: The Marketing Function - 5 Ps The Marketing Department Organizational Structure Types of Jobs The Marketing Process Challenges for the Future What is Marketing? “Marketing is Everything You Do to Help Sell a Product/Service” “Marketing is Everything” Marketing has become the dominant and often most critical business function Manufacturing techniques and resources are now less critical, often easy to obtain Brand equity and intellectual capital are now more critical, harder to duplicate Business is evolving from manufacture of goods to manufacture of “thinking” “The Five P’s” 1. Product Product may be “tangible” Packaged goods Durable goods Product may be a service Product may be a combination Products are “bundles of benefits” 2. Price Key part of “value equation” At the price, product must have some measure of “functional superiority.” Price must also contain margin For funding of necessary activities... and profit Price can send additional signals Can be a strategy in itself, or, more likely, part of a strategy 3. Place (distribution) Similar products can make different “place” decisions Example: Coffee Folgers 3. Place Similar products can make different “place” decisions Example: Coffee Folgers Gevalia 3. Place Similar products can make different “place” decisions Example: Coffee Folgers Gevalia Starbucks 4. Promotion A range of marketing communications (MarCom) techniques can be used: Advertising Sales Promotion Public Relations Publicity Internet/New Media Direct Sales Direct Marketing Event Marketing Trade Shows Promotional Products 5. People Some controversy over the fifth P Once, some said “packaging” One consultant says “personalization” Another says “playback” We say it’s “People.” Your customers Your own people Other “stakeholders” Sales Force, Trade, Suppliers The Marketing Mix Demand Example: Price/Supply Marketing Variables Five P Variables Promotion Mix Marketing Strategy . . . Unique Combinations Unique Marketing Strategies Example: Early auto industry Ford - Product/Price GM - Product/Value GM - Multiple Brands Unique Combinations Unique Marketing Strategies Example: Early auto industry Ford - Product/Price GM - Product/Value GM - Multiple Brands Example: Bose Promotion + Place Direct instead of stores Marketing Departments 2 Types of Organization Vertical Organization Traditional military “command” structure Clear lines of responsibility Seems to work best when there are numerous similar products Horizontal Organization More fluid “ad hoc” structure Organize around needs and functions Top Job Functions: For both types of organizations CEO, COO, CMO Chief Executive Officer Chief Operating Officer Chief Marketing Officer Top Marketing person CFO, CIO Chief Financial Officer Chief Information Officer Vertical Organization Example: Oscar Mayer (KGF) Consumer Products V.P. Marketing Category Manag er Lunch Pak Brand Manager Ham Brand Manager Turkey Ass istant Brand Manager Ass istant Brand Manager Category Manag er Hot Dogs Brand Manager Ass orted Brand Manager Main Line Ass istant Brand Manager Brand Ass istant Brand Manager Smokies Category Manag er Breakfast/New Products Brand Manager New Products Brand Manager Bacon & Sausage Brand Manager New Products Ass istant Brand Manager Ass istant Brand Manager Brand Ass istant Horizontal Organization Example: McDonnell-Douglas (2 groups) CEO COO, Sr. VP VP, F-15 VP, F/A-18 Marketing Manager Production Manager Finance Manager Advertising Plant Cost Accounting Trade Shows Suppliers Navy Customer Customer Foreign Customers Customers R&D Manager Marketing Manager Production Manager Finance Manager Advertising Plant Manager Cost Accounting Trade Shows Air Force Customer Marketing Job Functions Director of Marketing Often, trained w. “feeder system” P&G, KGF, etc. Has become COO career path Must manage increasing variety of MarCom programs and suppliers Advertising Director Importance depends on size of budget May also have significant responsibilities monitoring media spending Marketing Job Functions Category Manager Group Product Manager Brand Manager Brand Assistant Other Staff Functions: Sales Promotion Media Market Research Field Marketing… Bridgette Heller - from Brand Manager Gevalia to Category Manager for Coffee at KGF Field Marketing Excellent entry level job opportunity There are many marketers that operate Field Marketing Organizations Beverage Industry (Beer, Soft Drink) Fast Food Industry Franchise Organizations In many cases, ad agencies that service these marketers also provide Field Marketing “Think Global. Act Local.” The Marketing Process Planning Implementation Evaluation Planning 1. Setting overall marketing strategy 2. Developing annual marketing plan 3. Calculating annual marketing budget 4. Assigning marketing tasks (planning) Implementation 4. Assigning marketing tasks (continued) After budgets approved, operations move from the theoretical to the practical NOTE: Actual costs may vary from budget plans may need to be changed “on the fly” 5. Supervising internal functions NOTE: PR may be internal, external or both 6. Overseeing external services Advertising, sales promotion, etc. NOTE: Variety of MarCom program options is growing Evaluation: 7. Measuring and tracking efforts Sales Results Media Expenditures Awareness and Usage Ongoing Market Research programs (tracking studies) 8. Reporting performance to management NOTE: May be daily, weekly, or quarterly. Trend is for more frequent reporting 9. Integrating results into planning The cycle continues - working for improvement wherever possible Marketing Challenges: Increasing importance of marketing As mentioned, “Marketing is Everything” the function is more important for everyone Hyper-Competition Too much capacity for size of market Happening on a global scale Examples: Automobiles, computers Fragmentation Consumers, Media, etc. Harder to do “mass” marketing