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Marketing Principles

Review Session Jan 30th, 2009

Understanding Modern Marketing Management

The Evolution of Marketing The Marketing Concept and related concepts Marketing as business philosophy and practice Marketing in the Twenty-first Century Relationship Marketing, Customer Satisfaction and Retention Marketing and Social Responsibility

Marketing Management
Marketing Eras: 1900 1930: 1930 1960s: Selling Orientation, Push Sales to gain market share 1960 -1980s: ??????????????, Find out what the customers want, then develop products to satisfy them! 1990s Today: Societal Marketing orientation,

Czinkota calls it Relationship Marketing, P7

Customer Retention

What is it? Its about reducing customer defections, leaky bucket theory replace disloyal customers. Customer defection is getting easier and easier every year. Retention Rate is the % of the total number of customers who have repeatedly placed an order over any 12 month period compared to the total number of customers in the same period.

Macro and Micro Environment for Marketing

Elements of the marketing environment Macro and Micro environmental analysis Understanding Consumer Buyer Behaviour Understanding Industrial Buyer Behaviour Defining and analysing competitive forces

The Marketing Information System.

The Internal Reports System The Marketing Intelligence System Market Research

Customer Research & the Research Process

The market research process:

Problem definition Research design Data collection Data analysis and interpretation Presentation of results
Copyright 2005 by South-Western, a division of Thomson Learning. All rights reserved.

More details of this process on pg. 102 of book, Fig 4.1

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Designing and Managing Marketing Programmes

Introducing the Marketing Mix The Traditional Marketing Mix and the Expanded Marketing Mix Product Decisions Integrated Marketing Communications Physical Distribution and Marketing Channel Management (2 parts physical + Mkt Prog) Designing Pricing Programmes Managing Direct and Online Marketing

4 Ps
The Marketing Mix
Product Development Management Features/benefits Branding Packaging After-sales service Price Costs Profitability Value for money Competitiveness Incentives Promotion Communication mix Advertising Sales promotion Sales Public relations Direct marketing Place Access to market Channel structure Channel management Retailer image Logistics

Developing Marketing Strategies.

Segmentation, Targeting and Market Positioning Managing products over the lifecycle Developing new products Brand Management The Marketing Plan

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Segmentation Defined
Segmentation is the art of discerning and defining meaningful differences between groups of customers to form the foundations of a more focused marketing effort.
Mass Market Niche MicroMarkets The individual

Segmentation Continuum

Managing the Marketing Effort.

Marketing organisation Marketing implementation Controlling marketing activity

Marketing Organisation & Management

Analysing Marketing Opportunities
The Marketing Environment Market Research & Information Systems Market Segmentation, Tragetting & Positioning

Marketing Mix Development

Product Decisions Pricing Decisions Promotion Decisions Place Decisions Marketing of Services

Marketing Management Decisions

SWOTing your company

Services Marketing

Specific characteristics of Services The Servuction System Model The Five Gap Model of Service Quality Defection Management and Customer Retention Management

Servuction System Model

The production process of services has been called the servuction process (Eiglier and Langeard, 1977) It refers to the simultaneous production and consumption of services. The customer is present when the service is produced The customer plays a role in the servuction and the delivery process Customers interact with one another during the servuction process and may be affected (positively or negatively) by this interaction