The document summarizes key concepts from a lecture on marketing principles and the marketing process. It covers topics such as portfolio analysis, the Boston Consulting Group matrix, the product/market expansion grid, the marketing strategy planning process, analyzing marketing opportunities using a situation analysis, selecting target markets through market segmentation and targeting, developing the marketing mix of product, price, place, and promotion, and managing the overall marketing effort.
The document summarizes key concepts from a lecture on marketing principles and the marketing process. It covers topics such as portfolio analysis, the Boston Consulting Group matrix, the product/market expansion grid, the marketing strategy planning process, analyzing marketing opportunities using a situation analysis, selecting target markets through market segmentation and targeting, developing the marketing mix of product, price, place, and promotion, and managing the overall marketing effort.
The document summarizes key concepts from a lecture on marketing principles and the marketing process. It covers topics such as portfolio analysis, the Boston Consulting Group matrix, the product/market expansion grid, the marketing strategy planning process, analyzing marketing opportunities using a situation analysis, selecting target markets through market segmentation and targeting, developing the marketing mix of product, price, place, and promotion, and managing the overall marketing effort.
The document summarizes key concepts from a lecture on marketing principles and the marketing process. It covers topics such as portfolio analysis, the Boston Consulting Group matrix, the product/market expansion grid, the marketing strategy planning process, analyzing marketing opportunities using a situation analysis, selecting target markets through market segmentation and targeting, developing the marketing mix of product, price, place, and promotion, and managing the overall marketing effort.
Political- Social- Legal Competitors Cultural Environment Environment Analyzing marketing opportunities Situation Analysis The Three Cs ••Market MarketPotential Potential (size, (size,growth growthrate) rate) Customers ••Customer Customer Behavior Behavior(wants (wants and andneeds, needs, ••Industry Industry segmentation, segmentation, Structure Structure price pricesensitivity) sensitivity) Analysis Analysis (entry/exit (entry/exit barriers, Company barriers,buyers, buyers, ••Economic sellers, Economic sellers, Analysis substitutes) Analysis(costs, (costs, substitutes) break-even, break-even, ••Competitor Competitor profitability) profitability) Response Response ••Company CompanyFit Fit Profiles Profiles (capabilities, Competitors (strengths, (strengths, (capabilities, weaknesses, current weaknesses, currentand andfuture future resources, actions) resources,culture, culture, actions) changing environment – opportunities and threats changing firm situation – relative strengths and weaknesses Fit - match opportunities with firm’s objectives and resources (strengths) Market Information System The Marketing Information System Marketing Marketing managers Marketing Information System environment
Developing information Test
Analysis markets Assessing Internal Marketing Planning information Marketing needs records intelligence channels Implemen- tation Competitors
Control Marketing decision Marketing Publics Distributing information support research Macro- analysis environment forces
Marketing decisions and communication
Selecting Target Markets Firm cannot satisfy everyone – mass marketing Segment total market – market segmentation Target markets – target marketing – niche marketing Developing the Marketing Mix Product Price “Goods-and-service” Amount of money combination that a that consumers company offers a have to pay to target market Obtain the product
Target Customers
Intended Positioning Activities that Company activities persuade target that make the customers to buy product available the product Promotion Place Marketing Marketing Mix Mix
Product Place Product Variety Target Target Market Market Channels Quality Coverage Design Assortments Features Locations Brand Name Price Inventory Packaging List Price Promoti Transport Sizes Discounts on Allowances Sales Services Promotion Warranties Payment Period Advertising Returns Credit Terms Sales Force The 4 P’s & 4C’s of the Marketing Mix 44 P’s P’s 44 C’s C’s ––Product Product –– Customer Customer Solution Solution ––Price –– Customer Customer Cost Cost Price –– Convenience Convenience ––Place Place –– Communication Communication ––Promotion Promotion Managing the marketing effort Managing the Marketing Efforts
Marketing Marketing Analysis Analysis of of Company’s Company’s Situation Situation
Marketing Marketing Control Planning Planning Marketing Marketing Measure Implementation Implementation Results Develop DevelopStrategic Strategic Plans Plans Carry CarryOut Out Evaluate The Results The Develop Develop Plans Plans Marketing Take Marketing Corrective Plans Plans Action Contents of a Marketing Plan
Executive Summary Current Marketing Situation Threats and Opportunity Analysis Objectives and Issues Marketing Strategy Action Programs Budgets Controls Marketing Implementation Marketing Marketing Strategy Strategy Decision Organizational and Human Structure Reward Resources
Action Climate and
Programs Culture
Implementation
Marketing Marketing Performance Performance Marketing Control Process
Set Measure Evaluate Take
Performance Performance Corrective Goals Action Enough for today. . . Summary Marketing Process
Political- Social- Legal Competitors Cultural Environment Environment Analyzing marketing opportunities changing environment – opportunities and threats changing firm situation – relative strengths and weaknesses Fit - match opportunities with firm’s objectives and resources (strengths) Market Information System The Marketing Information System Marketing Marketing managers Marketing Information System environment
Developing information Test
Analysis markets Assessing Internal Marketing Planning information Marketing needs records intelligence channels Implemen- tation Competitors
Control Marketing decision Marketing Publics Distributing information support research Macro- analysis environment forces
Marketing decisions and communication
Selecting Target Markets
Firm cannot satisfy everyone
– mass marketing Segment total market – market segmentation Target markets – target marketing – niche marketing Developing the Marketing Mix Marketing Marketing Mix Mix
Product Place Product Variety Target Target Market Market Channels Quality Coverage Design Assortments Features Locations Brand Name Price Inventory Packaging List Price Promoti Transport Sizes Discounts on Allowances Sales Services Promotion Warranties Payment Period Advertising Returns Credit Terms Sales Force Managing the marketing effort Contents of a Marketing Plan
Executive Summary Current Marketing Situation Threats and Opportunity Analysis Objectives and Issues Marketing Strategy Action Programs Budgets Controls Marketing Implementation
Marketing Marketing Strategy Strategy Decision Organizational and Human Structure Reward Resources
Action Climate and
Programs Culture
Implementation
Marketing Marketing Performance Performance Marketing Control Process
