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Strategic Marketing Management

This presentation introduces basics of marketing management course for MBA students that serves as basis for advanced studies in Marketing.

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Ismatullah Butt
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Download as PPT, PDF, TXT or read online on Scribd
69 views

Strategic Marketing Management

This presentation introduces basics of marketing management course for MBA students that serves as basis for advanced studies in Marketing.

Uploaded by

Ismatullah Butt
Copyright
© © All Rights Reserved
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
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STRATEGIC MARKETING MANAGEMENT

Lecture 1

Presenter:
ISMATULLAH BUTT
PhD (S)
Strategic Marketing Management
Lecture Plan:
 Introduction-Basics of Marketing

 Marketing themes

 Marketing philosophies

 Marketing versus Selling

 Definition of Marketing Management

 Definition of Strategic Management


What is a Market?

“A market consists of all the potential


customers sharing a particular need or want
who might be willing and able to engage in
exchange to satisfy that need or want” (Philip
Kotler).

For instance…..
The Overall Themes of Marketing-
The Traditional Marketing Mix

 Product
 Price
 Promotion
 Place
Marketing Defined

 Marketing is a process… that is…

 Managerial
 Social
 Individual
 Wants, Desires
 Demands – Products and/or Services
As far as Customers are concerned there are three
elements to address

 Customer value: Difference between the


values that the customer gains from owning and
using a product versus the costs of obtaining the
product.
• Customer satisfaction: The extent to
which a product’s perceived performance in
delivering value matches a buyer’s
expectations.

• Quality: the characteristics of a product or


service that bear on its ability to satisfy
stated or implied customer needs.
Marketing Management Philosophies
Agree or Disagree?

1. Production: consumers will favor products that are available and


highly affordable
2. Product: consumers favor products that offer the most in quality,
performance, and innovative features
3. Selling: consumers will not buy unless an organization undertakes a
large-scale selling and promotional effort
4. Marketing: determining the needs and wants of target markets and
delivering the desired satisfactions more effectively and efficiently then
the competitors
5. Societal marketing: generating customer satisfaction and long-run
societal well-being are the keys to both achieving the company’s goals
and fulfilling its responsibilities
Relationships

 Relationship marketing: the process of creating,


maintaining, and enhancing strong, value-laden relationships
with customers and other stakeholders.
Marketing Management Practice-Essential Two Types

 Entrepreneurial marketing:
 Businesses started by individuals
 Creativity, drive, and perseverance are keys
to success

Formulated marketing:
– Professional, disciplined approach
– Achieving a market orientation
Orientations towards marketing

 Production concept (before 1930):


demand > supply

 Selling concept (1930-1950):


supply > demand

 Marketing concept (post-1960s):


analyze consumer needs before
producing and selling, market orientation,
competition…
Marketing Concept versus
Selling Concept

Starting Point Focus Means Ends

The Marketing Concept


Customer Integrated Profits from
Market
needs marketing satisfied customers

The Selling Concept

Sell and Profits through


Factory Product
Promote it sales volume

Figure 1.3
Common Marketing Problems

 How can we identify and choose profitable


market segments?
 How can we differentiate our offer from our
competition?
 How should we react to competitors?
 How can we satisfy our customers and build brand
loyalty?
 How can we measure the effectiveness of an ad
campaign, of Public Relations, of a promotion,
etc…?
Marketing Management

 What is marketing Management?


« Marketing management is the process of planning and
executing the conception, pricing, promotion, and
distribution of ideas, goods, and services to create
exchanges that satisfy individual and organizational
goals » (Philip Kotler)

 Marketing management has the task of influencing


the level, timing, and composition of demand in a
way that will help the organization achieve its
objectives.
Strategic Management

 Set of decisions and actions that result to the


formulation and implementation of plans
designed to achieve a company’s objectives

 Study of why and how some firms outperform


others

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