Marketing Management

Marketing Management: The art & science of choosing target markets and
getting, keeping and growing customers through creating, delivering and
communicating superior customer value.

Factors influencing Marketing concept:-

i) Growth of population
ii) Changing concept of family
iii)More disposable income
iv) More discretionary income
v) Technology advancement
vi) Media
vii)Credit Facility
Classification of markets:-
On the basis of :
1. Area
2. Time
3. Transaction
4. Regulation
5. Volume of business
6. Nature of goods
Difference between Marketing and Selling:-
MARKETING SELLING
Focuses on customer need Focuses on sellers need
Begins before production Begins after production
Continues after sell Comes to an end after sell of product
Philosophy of business Routine process
Profit through customer satisfaction Profit through sales volume
Long term perspective Short term perspective
Customer first Product first
Segmentation :-
1) Geographic
a) Region : specific area of target market
b) Type of area : urban/sub-urban/rural
c) Density of population
d) Climate: example- northern, southern
2) Demographic
a) Age
b) Gender
c) Marital status
d) Income
e) Occupation
f) Education
g) Religion
h) Nationality
3) Psychological
a) Motivation
b) Personality
c) Perception
d) Attitude
e) Life style
f) Psychographic
4) Socio Culture
a) Social class
b) Family life cycle
c) Culture
d) Sub-culture
e) Religion
5) Use situation
a) Time
b) Occasion
6) User related
a) Awareness
b) Usage Rate
c) Loyalty
7) Benefit
a) Convenience
b) Durability
c) Social acceptance
 d) Value for money
8) Behavioural
a) VALS (Value & Life style)
b) SEC2011 (Social Economy Class 2011)
9) Hybrid
a) Geodemographic- divide population
b) Psychographic- adding population

Strategic Planning Gap:

 Intensive Growth- Some options for intensive growth include

identifying new customer groups within existing sales areas,
developing additional distribution channels, or selling in new
markets, such as those in other countries. The product-market
expansion table below (aka Ansoff growth matrix) is a helpful tool to
evaluate various options, starting with existing markets and products
and eventually reviewing market expansion.
 Integrative growth- After examining intensive growth strategies,
the next step is to consider integrative growth strategies. Integrative
growth typically involves backward, forward, or horizontal
integration with an industry. Horizontal integrations result in buying
competitors, often smaller ones. Backward integrations reach into
the value chain to acquire suppliers. Forward integration involves
 buying distribution channels in the front of the value chain closest to
the customer. Acquiring or establishing partnerships with suppliers,
distributors and competitors are common integrative growth
strategies.
 Diversification Growth- Diversification growth can be achieved
through several strategies. A concentric strategy would involve
offering a new product or service to a different group of customers. A
horizontal strategy would involve selling related new products to
existing customers. Finally, a conglomerate strategy would consist of
creating an entirely new set of products or services. Disney, for
example, branched out from being an animated film producer to
licensing characters, becoming a broadcaster with its own cable
channel, and publishing books under a separate brand.

 4 function of marketing management

i) Planning
ii) Organizing
iii)Controlling
iv) Directing
  4 P’s of Marketing
i) Product
ii) Price
iii)Place
iv) Promotion

 Business Plan

Value Customer Need Firm’s Purpose Marketing Plan

 Marketing Plan:-
i) Current Marketing situation: -
(1) Market situation
(2) Competitive situation
(3) Macroeconomic environment
ii) Opportunities & issues analysis :-
(1) Opportunities & threat outside firm
(2) Strength & weakness within firm
(3) Issue analysis
(4) Financial & marketing objectives
iii)Implementation
iv) Finance
v) Control