Novo Marmo Marketing Management
Novo Marmo Marketing Management
Novo Marmo Marketing Management
What is Marketing??
Selling? Advertising? Promotions? Making products available in stores? Maintaining inventories?
Marketing = ?
Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, services to create exchanges that satisfy individual and organizational goals
American Marketing Association
Marketing = ?
Marketing management is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.
Goods/services
Industry
(a collection of sellers)
Money
Market
(a collection of Buyers)
Information
Marketing = ?
Marketing is the sum of all activities that take you to a sales outlet. After that sales takes over. Marketing is all about creating a pull, sales is all about push. Marketing is all about managing the four Ps
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Product
Customer Solution
Customer Cost
Sales
trying to get the customer to want what the company produces
Marketing
trying to get the company produce what the customer wants
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Markets
Marketers
Xchange,Transaction Relationships
Company
Competition
Who is a Customer ??
CUSTOMER IS . . . . .
Anyone who is in the market looking at a product / service for attention, acquisition, use or consumption that satisfies a want or a need
Customer
CUSTOMER has needs, wants, demands and desires Understanding these needs is starting point of the entire marketing These needs, wants arise within a framework or an ecosystem Understanding both the needs and the ecosystem is the starting point of a long term relationship
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Analysis Of
Competition
Who are your competitors? What are their strengths and weaknesses? What have been their strategies? How are they likely to respond to your Marketing plan?
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Strategic Marketing
Strategic marketing management is concerned with how we will create value for the customer Asks two main questions
activity at a particular time? Customer Value What are its primary goals and how will these be achieved? how will this value be delivered
Strategic Planning
Strategic Planning is the managerial process of creating and maintaining a fit between the organizations objectives and resources and the evolving market opportunities. Also called Strategic Management Process All organizations have this Can be Formal or Informal
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Strategy Formulation
Environmental Analysis Internal Analysis
Competitor Customer Supplier Regulatory Social/ Political
Logistics Opportunities & Threats Strength & Weaknesses Identity Core Competencies
Identify opportunity
Firm Strategies
A written document that acts as a guidebook of marketing activities for the marketing manager
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Marketing Strategy
Target Market Strategy
Marketing Mix
Product Promotion Place/Distribution Price
Social Change
Competition
Target Market
Technology Political & Legal Factors
Environmental Scanning
Product
Product is . . . . .
Anything that is offered to the market for attention, acquisition, use or consumption that satisfies a want or a need
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Types of Products
PRODUCTS
Consumer Products
Services
Industrial Products
Product Item
A specific version of a product that can be designated as a distinct offering among an organizations products. A group of closely-related product items. All products that an organization sells.
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Product Line
Product Mix
Product Mix
Width how many product lines a company has Length how many products are there in a product line Depth how many variants of each product exist within a product line Consistency how closely related the product lines are in end use
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An act or performance offered by one party to another (performances are intangible, but may involve use of physical products) An economic activity that does not result in ownership A process that creates benefits by facilitating a desired change in customers themselves, or their physical possessions, or intangible assets
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Health care Education Wholesaling and retailing Laundries, dry-cleaning Repair and maintenance Professional (e.g., law, architecture, consulting)
Classification of Services
Manufacturing Mining
Business Hotels Product = Service Computers Major Product with Minor Services Materials / Components
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Ability to add value and to differentiate as a firm focuses more on the top levels
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Marketers are focused on stimulating exchanges with customers who make up markets B2C or B2B. The market is comprised of people who play a series of roles: decision makers, consumers, purchasers, and influencers. It is absolutely essential that marketers have a detailed understanding of consumers, their needs and wants. Much happens before and after the sale to affect customer satisfaction
Customer?
Selling focuses on the needs of the seller; marketing on the needs of the buyer
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