MARKETING MANAGEMENT

By Mudit Sharma

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What is a market?
n

Part of a variety of different systems, institutions, procedures, and infrastructures whereby people trade, and goods and services are exchanged, forming part of the economy. An arrangement that allows buyers and sellers to exchange things.

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Market variations
n n n n n

Size, Range, Geographic scale, Location, Types of human communities,

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Marketing Concept
n

Performance of business activities that direct the flow of goods and services from producer to consumer or user (AMA 1960) Satisfaction of present and potential customer need

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Marketing Management Process

n n n n n

Market Analysis Market research Strategy Development Planning Marketing Tactics Implementation and Control

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Market Analysis
n n n

Internal Factors External Factors SWOT Analysis

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Internal Factors
n n n n

Top management Suppliers Customers Competitors

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External Factors
n n n n n n

Demographic Economic Physical Technological Political / Legal Social / Cultural

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Marketing Research
n n n n

Define the Market Market Segmentation Market Targeting Positioning

Geographic Region, State, Country, Rural

Urban, Climate Demographic Age, Sex, Family size, Family life cycle, Income, Occupation, Education Religion, Caste, Race, Nationality, Social Class Psychographic

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Market Strategy
n

n n

Decisions on the businesss marketing expenditure Marketing mix Marketing allocations

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Marketing Mix Variables 4 Ps

n n n n

Product Price Place Promotion

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Marketing Tactics
n n

Strategy is broad Tactics are details

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Implementation & Control

n n n

Execution Collecting feedback Back to planning

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Case:Nokia
Three segments n Low end n Middle n High end

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Case: Car market

n n n n

Budget Car Segment Compact Car Segment Premium Car Segment Super Luxury Segment

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