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1、Definitions of marketing,Marketing is the management process that identifies,anticipates and satisfies customer requirements profitablyThe Chartered Institute of Marketing,Implications of marketing,Who are our existing/potential customers?What are their current/future needs?How can we satisfy these
2、needs?Can we offer a product/service that the customer would value?Can we communicate with our customers?Can we deliver a competitive product of service?Why should customers buy from us?,The marketing concept,choosing and targeting appropriate customerspositioning your offeringinteracting with those
3、 customerscontrolling the marketing effortcontinuity of performance,Successful marketing requires:,ProfitableOffensive(rather than defensive)IntegratedStrategic(is future orientated)Effective(gets results)Hugh Davidson 1972,Marketing management process,Analysis/Audit-where are we now?Objectives-wher
4、e do we want to be?Strategies-which way is best?Tactics-how do we get there?(Implementation-Getting there!)Control-Ensuring arrival,Why is marketing planning necessary?,Systematic futuristic thinking by managementbetter co-ordination of a companys effortsdevelopment of performance standards for cont
5、rolsharpening of objectives and policiesbetter prepare for sudden developments,Why is marketing planning necessary?,Systematic futuristic thinking by managementbetter co-ordination of company effortsdevelopment of better performance standards for controlsharpening of objectives and policiesbetter pr
6、epare for sudden new developmentsmanagers have a vivid sense of participation,Criticisms of marketing planning,Formal plans can be quickly overtaken by eventsElements of the plan my be kept secret for no reasongulf between senior managers and implementing managersthe plan needs a sub-scheme of actio
7、ns,Objectives of the marketing plan,Acts as a roadmapassist in management control and monitoring the implementation of strategyinforms new participants in the plan of their role and functionto obtain resources for implementationto stimulate thinking and make better use of resources,Assignment of res
8、ponsibilities,tasks and timingAwareness of problems,opportunities and threatsEssential marketing information may have been missingif implementation is not carefully controlled by managers,the plan is worthless!,The contents and structure of the marketing plan,The executive summarytable of contentssi
9、tuational analysis and target marketmarketing objectivesmarketing strategies marketing tacticsschedules and budgetsfinancial data and control,Cautionary notes for effective planning,Dont blindly rely on mathematical and statistical calculations.Use your judgement as wellDont ever assume that past tr
10、ends can be exploited into the future foreverif drawing conclusions from statistical data,make sure the sample size is sufficiently large,Behavioural planning problems,Planning recalcitrance:resistance and non-co-operation by managers in planningfear of uncertainty in planning:a lack of comfort in p
11、lanning activitiespolitical interests in planning activities:resource bargaining,padding of requirements,and avoidance of consensusplanning avoidance:compliance rather than commitment to planning,Standard Planning Framework,Analysis-where are we now?Objectives-where do we want to be?Strategies-which
12、 way is best?Tactics-how do we ensure arrival?Control-are we on the right track?,Marketing Information Systems,Marketing ResearchWhat is Marketing Research?ProcessTerminologyTechniquesMKIS-Marketing Information Systems What is MKISComponents of an electronic MKIS,Marketing Research,the systematic ga
13、thering,recording and analysing of data about problems relating to the marketing of goods and servicesAmerican Marketing Association,The Marketing Research Process,Set objectivesDefine research ProblemAssess the value of the researchConstruct a research proposalSpecify data collection methodSpecify
14、techniques of measurementSelect the sampleData collectionAnalysis of resultsPresent in a final report,Terminology of Marketing Research,Primary data-collected firsthandSecondary data-already exists,desk researchQuantitative research-statistical basisQualitative research-subjective and personalsampli
15、ng-studying part of a population to learn about the whole,Marketing Research Techniques,Interviewsface-to-facetelephonepostal questionnaireAttitude measurementcognitive component(know/believe about an act/object)affective component(feel about an act/object)conative component(behave towards an object
16、 or act),Likert scalestrongly agreeagreeneither agree nor disagreedisagreestrongly disagreeSemantic differential scales-differences between words e.g.practical v impractical Projective techniquessentence completionpsychodrama(yourself as a product)friendly martian(what someone else might do),Group d
17、iscussion and focus groupPostal research questionnairesDiary panels-sources of continuous dataIn-home scanning-hand-held light pen to scan barcodesTelephone researchObservationhome auditdirect observationIn-store testing,What is MKIS?,MKIS(MIS)is a set of procedures and methods for the regular,plann
18、ed collection,analysis and presentation of information for use in marketing decisionsAmerican Marketing Association,The components of a computerised MKIS,Model Bank,Data Bank,StatisticalBank,MKIS,Display unit,MarketingManager,The components of a computerised MKIS,Data bank-raw data e.g historical sa
19、les data,secondary dataStatistical bank-programmes to carry-out sales forecasts,spending projectionsA model bank-stores marketing models e.g Ansoffs matrix,Boston MatrixDisplay unit-VDU and keyboard,The Marketing Environment and Competitor Analysis,SWOT analysisPEST analysisFive forces analysis,SWOT
20、 analysis,Strengths(internal)Weaknesses(internal)Opportunities(external)Threats(external),PEST analysis,Political factorsEconomic factorsSocio-cultural factorsTechnological factors,Political/legal,Monopolies legislationEnvironmental protection lawsTaxation policyEmployment lawsGovernment policyLegis
21、lationOthers?,Economic Factors,InflationEmploymentDisposable incomeBusiness cyclesEnergy availability and costOthers?,Sociocultural factors,DemographicsDistribution of incomeSocial mobilityLifestyle changesConsumerismLevels of educationOthers?,Technological,New discoveries and innovationsSpeed of te
22、chnology transferRates of obsolescenceInternetInformation technologyOthers?,Source:Adapted from M.E.Porter,Competitive Strategy,Free Press,1980,p.4.,Threat ofsubstitutes,Potentialentrants,Threat ofentrants,Suppliers,Bargaining power,Substitutes,Buyers,Bargaining power,COMPETITIVE RIVALRY,Five forces
23、 analysis,Five Forces Analysis:Key Questions and Implications,What are the key forces at work in the competitive environment?Are there underlying forces driving competitive forces?Will competitive forces change?What are the strengths and weaknesses of competitors in relation to the competitive force
24、s?Can competitive strategy influence competitive forces(eg by building barriers to entry or reducing competitive rivalry)?,Buyer Behaviour,Dominant Family Purchase-Cozenza 1985Demographic FactorsThe Consumer Buying ProcessMaslows hierarchy of needsUK socioeconomic classification schemeTypes of buyer
25、 behaviourThe Buying Decision ProcessOrganisational Buyer Behaviour,Dominant Family Purchase-Cozenza 1985,Demographic Factors,AgeStage in family life cycleOccupationEconomic circumstancesLifestylesocial influence variablesfamily backgroundreference groupsroles and status,The Consumer Buying Process,
26、Consumer,Purchase DecisionsProduct ChoiceLocation ChoiceBrand ChoiceOther Choices,Psychological InputsCultureAttitudeLearningPerception,Based on Cohen(1991),Marketing InputsProductPricePromotionPlace,Maslows Hierarchy of Needs,Physiological,Safety,Social,Esteem,Self Actualisation,UK socioeconomic cl
27、assification scheme,Types of buyer behaviour,Complex buyer behaviour e.g.Intel Pentium ProcessorDissonance-reducing behaviour(brand reduces after-sales discomfort)Habitual buying behaviour e.g.salt-little differencevariety seeking behaviour-significant brand differences e.g soap powder,The Buying De
28、cision Process,recognition of the need e.g a new PCchoice of involvement level(time and effort justified)e.g.two week endsidentification of alternatives e.g.Dell,PC Worldevaluation of alternatives I.e.price,customer service,software support,printer/scanner packagedecision-choice made e.g Epsom actio
29、n e.g buy Epsom model from Cometpost-purchase behaviour I.e.use,breakdowns,etc,Organisational Buyer Behaviour,The decision-making process by which formal organisations establish the need for purchased products and services,and identify,evaluate,and choose among alternative brands and suppliersKotler
30、 and Armstrong 1989,Characteristics of organisational buyer behaviour,Organisation purpose-Goodyear TyresDerived demand-follows cars and lorriesConcentrated purchasing-stockholdings of rubberDirect dealings-large purchaser of basic rubber-no intermediariesSpecialist activities-learns about the produ
31、ctMultiple purchase influences-DMU-Decision making unit,Strategic Development,Product Life Cycle(Revisited in Product)Bowmans Competitive Strategy OptionsNew Product Development(NPD),Five stages of the PLC,Product development-sales are zero,investment costs are highIntroduction-profits do not exist,
32、heavy expense of product introductionGrowth-rapid market acceptance and increasing profitsMaturity-slowdown in sales growth.Profits level-off.Increase outlay to compete,Decline-sales fall-off and profits drop,PLC exercise,The Ford Escort The Mini CooperThe Internet PhoneCadburys FuseThe Boeing 747Th
33、e Millennium DomeKIT KAT,Source:Based on the work of Cliff Bowman.See C.Bowman and D.Faulkner.Competitive and Corporate Strategy,Irwin,1996.,Bowmans Strategy Clock,1 Low price/low added valueLikely to be segment specific2 Low priceRisk of price war and low margins/need to be cost leader3 HybridLow c
34、ost base and reinvestment in low price and differentiation4 Differentiation(a)Without price premiumPerceived added value by user,yielding market share benefits(b)With price premiumPerceived added value sufficient tobear price premium,The Strategy Clock:Bowmans Competitive Strategy Options,5 Focused
35、differentiationPerceived added value to a particular segment,warranting price premium6 Increased price/standardHigher margins if competitors do not value follow/risk of losing market share7 Increased price/low value Only feasible in monopoly situation8 Low value/standard priceLoss of market share,Ne
36、w-Product Development Process,New product strategyIdea generationIdea screeningConcept development and testingMarketing strategyBusiness analysisProduct developmentTest Marketing Commercialisation,Products Decisions,Product and Service Classification SystemThe Product Life CycleIntroduction to produ
37、ct matricesBoston Matrix(Growth/Share)Ansoffs Matrix(Product Market),Product and Service Classification System,Convenience goods-little effort,relatively inexpensiveShopping goods-e.g white goods,DIY equipment,more expensive,infrequentSpeciality goods-extensive search e.g Jewellery,gourmet foodUnsou
38、ght goods-e.g.double glazing,Industrial goodsInstallations-speciality goods of industrial markets-plant and machineryAccessories-maintenance and office equipmentRaw materialscomponents Business to business e.g.consultants,accountants,Few:,Few:,trial of,trial of,early,early,adopters,adopters,Growing
39、adopters:,Growing adopters:,trial of,trial of,product/service,product/service,Entry of,Entry of,competitors,competitors,Growing selectivity,Growing selectivity,of purchase,of purchase,May be many,May be many,Saturation of,Saturation of,users,users,Repeat purchase,Repeat purchase,reliance,reliance,Fi
40、ght to maintain,Fight to maintain,share,share,Drop-off,Drop-off,in usage,in usage,Exit of some,Exit of some,competitors,competitors,Development,Development,Growth,Growth,Maturity,Maturity,Decline,Decline,The life product cycle model,Market Share,MarketGrowth,High,Low,High,Low,1.Stars,3.QuestionMark(
41、ProblemChild),2.Cash Cows,4.Dogs,The Boston Matrix(Growth/Share Matrix),Market Share,MarketGrowth,High,Low,High,Low,FUSE,MaverickMiniature Heroes,KIT KATMARS BAR,TOPICBOUNTY,The Boston Matrix-Chocolate Bars,Diversification,Market Penetration,Market Development,Product Development,Existing Markets,Ne
42、w Markets,Existing Products,New Products,Ansoffs Matrix(Product/Market Matrix),Diversification-related or unrelated,E.g.Realignments of the marketing mix,E.g.Geographical expansion,Same outlets and sales strategy-new product,Existing Markets,New Markets,Existing Products,New Products,Ansoffs Matrix(
43、Product/Market Matrix),Products Decisions,Product and Service Classification System?The Product Life Cycle stages?Growth/Share?Product Market?,Pricing Decisions,Pricing strategiesPricing exerciseTen ways to increase prices without increasing price-Winkler,Low,High,Low,High,EconomyStrategye.g.Tesco s
44、paghetti,Penetratione.g.Telewest cable phones,Skimminge.g.New film or album,Premiume.g.BA first class,Price,Quality,Pricing strategies,Premium pricingUses a high price,but gives a good product/service exchange e.g.Concorde,The Ritz HotelPenetration pricingoffers low price to gain market share-then i
45、ncreases pricee.g.France Telecom-to attract new corporate clients(or Telewest cable)Economy pricingplaced at no frills,low pricee.g.Soups,spaghetti,beans-economy brands,Price skimmingwhere prices are high-usually during introductione.g new albums or films on releaseultimately prices will reduce to t
46、he parityPsychological pricingto get a customer to respond on an emotional,rather than rational basis.e.g 99p not 1.01 price point perspectiveProduct line pricingrationale of a product rangee.g.MARS 32p,Four-pack 99p,Bite-size 1.29Pricing variations off-peak pricing,early booking discounts,etce.g Gr
47、undig offers a cash back incentive for expensive goods,Optional product-pricinge.g.optional extras-BMW famously under-equippedCaptive product pricingproducts that complement otherse.g Gillette razors(low price)and blades(high price)Product-bundle pricingsellers combine several products at the same p
48、ricee.g software,books,CDs.Promotional pricingBOGOF e.g.toothpaste,soups,etc,Geographical pricingdifferent prices for customers in different parts of the worlde.g.Include shipping costs,or place onPLCValue pricingusually during difficult economic conditionse.g.Value menus at McDonalds,Ten ways to in
49、crease prices without increasing price-Winkler,Revise the discount structureChange the minimum order sizeCharge for delivery and special servicesInvoice for repairs on serviced equipmentCharge for engineering,installationCharge for overtime on rushed ordersCollect interest on overdue accounts,Produc
50、e less of the lower margin models in the lineWrite penalty clauses into contractsChange the physical characteristics of the product,Channel and Distribution Tactics,Bucklins definition of distributionTodays system of exchangeChannel intermediariesSix basic channel decisionsSelection considerationPot
