MGT301 Principles of Marketing

Lecture-9

Summary of Lecture-8

Marketing Process

Analyzing marketing opportunities Selecting target markets Developing the marketing Mix Managing the marketing effort

DemographicEconomic Environment

Marketing Intermediaries

TechnologicalNatural Environment

Product Suppliers Place

Target Price Consumers

Promotion

Publics

PoliticalLegal Environment

Competitors

SocialCultural Environment

Analyzing marketing opportunities

changing environment opportunities and threats changing firm situation relative strengths and weaknesses Fit - match opportunities with firms objectives and resources (strengths) Market Information System

The Marketing Information System

Marketing managers

Marketing Information System

Developing information
Assessing information needs

Marketing environment Test markets Marketing channels Competitors

Analysis
Planning Implementation Control Distributing information

Internal records

Marketing intelligence

Marketing decision support analysis

Marketing research

Publics Macroenvironment 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 Mix

Product
Product Variety Quality Design Features Brand Name Packaging

Place

Target Market

Channels Coverage Assortments Locations

Price
List Price

Promotion
Sales Promotion Advertising Sales Force Public Relations Direct Marketing

Inventory Transport

Sizes
Services Warranties Returns

Discounts
Allowances Payment Period Credit Terms

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 Strategy
Organizational Structure Action Programs Decision and Reward Human Resources Climate and Culture

Implementation

Marketing Performance

Marketing Control Process

Set Goals

Measure Performance

Evaluate Performance

Take Corrective Action

Todays Topics

Marketing Environment

Environment

All the actors and forces influencing the companys ability to transact business effectively with its target market. Includes.
Microenvironment - forces close to the company that affect its ability to serve its customers.

Macroenvironment - larger societal forces that affect the whole microenvironment.

The Marketing Environment

Marketing Environment- consists of the actors and forces outside marketing that affect marketing managements ability to develop and maintain successful relationships with its target customers.

Demographic
Company

Cultural
Publics

Economic
Suppliers

Company
Customers

Political Competitors

Natural

Intermediaries

Technological

The Microenvironment

Company Publics
Forces Affecting a Companys Ability to Serve Customers

Suppliers

Competitors

Intermediaries

Customers

The Companys Microenvironment

Companys Internal Environment

Companys Internal Environment- functional areas inside a company that have an impact on the marketing departments plans.

Production

Marketing

Marketing Intermediaries - help the company to promote, sell, and distribute its goods to final buyers.

Suppliers - provide the resources needed to produce goods and services. Customers - five types of markets that purchase a companys goods and services.

International Markets

Consumer Markets

Company
Government Markets Business Markets

Reseller Markets

Competitors - those who serve a target market with similar products and services.

Publics - any group that perceives itself having an interest in a companys ability to achieve its objectives.

Types of Publics
Citizen Action Publics

Company

Enough for today. . .

Summary

The Marketing Environment

Demographic
Company

Cultural
Publics

Economic
Suppliers

Company
Political Competitors
Customers

Natural

Intermediaries

Technological

The Microenvironment

Company Publics Forces Affecting a Companys Ability to Serve Customers Competitors Customers Intermediaries Suppliers

Next.

The Macroenvironment

Demographic

Cultural

Forces that Shape Opportunities and Pose Threats to a Company

Economic

Political
Technological

Natural

MGT301 Principles of Marketing

Lecture-9