Unit 1 Understanding marketing
management:
Marketing Primary Discussion: The
primary market is where securities are
created. It's in this market that firms sell
(float) new stocks and bonds to the public
for the first time. An initial public offering,
or IPO, is an example of a primary market.
Marketing management is one of the
essential activities in business. Their efforts
influence the achievement of a company’s
success in managing marketing. Without
good management, the marketing process
may not run efficiently. In the worst case,
this condition can lead to losses.
Defining marketing management:
Marketing management is the
organizational discipline which focuses on
the practical application of marketing
orientation, techniques and methods inside
enterprises and organizations and on the
management of a firm's marketing
resources and activities. Asking into
account the critical role of marketing
management, an entrepreneur needs to
understand this aspect carefully. This
knowledge is also needed by prominent
entrepreneurs and micro, small and medium
enterprises (MSMEs). Furthermore, you
can place images and use the right tools to
support the marketing of the company’s
products properly. That’s the discussion
about the definition of marketing
management that you need to know. To
help streamline marketing activities, you
need the right support tools. SAP Business
One is a powerful software that helps you
do better marketing management.
Marketing management philosophies:
Marketing concepts or marketing
management philosophies are the
philosophies used by the businesses to
guide their marketing efforts. In simple
terms, marketing concepts relate to the
philosophy a business use to identify and
fulfil the needs of its customers, benefiting
both the customer and the company.
Marketing Management Philosophies
.philosophy cannot result in a gain for every
business, hence different businesses use
different marketing concepts (also called
marketing management philosophies). In
understanding this concept, companies
need to focus on products. Ensure that the
production process runs efficiently and gets
an affordable supply of raw materials.
Application of marketing management:
Marketing management has the direct
responsibility to find out areas where the
company’s products and services fail to
fulfill consumer needs and expectations and
to initiate vigorously marketing programs
to provide desired satisfactions explicitly
demanded by consumerism. Marketing
management’s nature and objectives will
have become vastly more consumer-
oriented and much less product and/or
corporation-oriented for the maximum
long-range benefits of the corporation
itself. Marketing Management identifies
market opportunities and comes out with
appropriate strategies for exploring those
opportunities profitably. It has to
implement marketing programmer and
evaluate continuously the effectiveness of
marketing-mix. It has to remove the
deficiencies observed in the actual
execution of marketing plans, policies, and
procedures. It looks after the marketing
system of the enterprise. Management is the
process of getting things done in an
organized and efficient manner. Marketing
management aims at efficient operation of
marketing activities. Marketing
management smoothen the process of
exchange of ownership of goods and
services from seller to the buyer. Marketing
management, like all other areas of
management comprises of the function of
planning, organizing, directing
coordinating and controlling. In
considering how the individual selling unit
in the marketing system operates, we will
investigate the question to be in related
activities that bear on mar-keting
management in either a managerial or a
regulative capacity.
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Unit 2 Market Oriented Strategic Plan
Strategic planning is a process in which
organizational leaders determine their
vision for the future as well as identify their
goals and objectives for the organization.
The process also includes establishing the
sequence in which those goals should fall so
that the organization is enabled to reach its
stated vision. A market-oriented
organization uses a customer-centered
approach, which means that the most
pressing concerns, immediate needs, and
personal preferences of the consumer base
must be researched. The strategy must be
focused on values, culture, and other
behavioral traits of the consumer base
Corporate or Company headquarters
establish the framework by preparing
statements of mission, policy, strategy, and
goals, within which the divisions and
business units prepare their plans. Some
corporations give their business units a lot
of freedom to set their own sales and profit
goals and strategies. Others set goals for
their business units but let them develop
their own strategies. Still others set the
goals and participate in developing
individual business unit strategies.
Marketing is how companies create value
for customers and build strong customer
relationships to capture value from
customers in return. 5 step process of the
marketing framework wherein value is
created for customers and marketers
capture value from customers in return.
Understanding the Marketplace and
Customer Needs and Wants.
 Designing a Customer-Driven
Marketing Strategy.
 Constructing an integrated
marketing plan that delivers
superior value.
 Build Profitable Relationships.
 Capturing Value from Customers. It
emerged originally in the US in the
1970s. The reasons for the
emergence of the concept are,
among others, the energy crisis,
double-digit

 Inflation, economic stagnation,
Japanese competitive victories, and
deregulation of key industries. All
of the above had hit the US industry
badly, which gave impetus for the
development of this concept.
 During that period, companies
realized that they could rely no
more on conventional planning to
schedule production and project
sales and profit; rather, it should be
replaced by strategic planning to
ensure the organization’s existence
in the face of odds.
It takes into account the whole
organization; we mean all of the businesses
are considered. The corporate strategic plan
is prepared, showing guidelines for each of
the businesses so that the company can
ensure a profitable future. Again, if a
company has several divisions, each
division prepares a divisional strategic plan
by showing resource allocation to the
business units under the division. Each
business unit also prepares a business unit
strategic plan to make the unit a profitable
one. Finally, each product level’s marketing
plan is prepared to show how sales will be
achieved, and profit will be made from each
product class. The strategic planning,
implementation, and control process can be
shown in the following figure. Market
oriented strategic planning is the
managerial process of developing and
maintaining a viable fit between the
organization’s objectives and resources and
the markets ever-changing opportunities
and environment. And the aim of strategic
planning process is to shape the company’s
businesses and products so that they yield
target profits and growth.
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Unit 3 Managing Marketing Information
Marketing information
Marketing information and research
describes information you need to collect
which gives you a good idea what your
target customers (beneficiaries, donors,
opinion formers, etc.) are
thinking/wanting/needing or doing in
relation to your product (be it a service, a
fundraising proposal or a campaign). The
competitive advantage of having unique
marketing data has transformed the
marketing operations space. It’s no longer a
question of whether consumer data drives
conversions, it’s the question of how best to
use that information. It’s also equally
important to have a system for tracking,
maintaining, and reporting that data as well.
That’s where marketing information
management comes into play.
What is marketing information
management?
Marketing information management refers
to the system by which marketing
operations teams gather, organize and
evaluate internal data, competitive
intelligence, and marketing
research.Marketing information
management ensures you have the most
correct information when it comes to your
customers. Marketing operations teams
understand the importance of clean data
that is organized in a way that is easy to
understand and in many cases, they use
marketing information management to do
it.
Demand for casting and measurement
Forecasting and demand measurement (in
terms of marketing) is a tool required to
forecast the future of product life. ...
Demand measurement as its name suggests
it is the study of the current market, it shows
the current situation of the market, in this,
and you can take an idea about the current
expanding market at present. This process
of marketing management takes place
“some­where” within the marketing
system. Having seen the marketing system
portrayed, you know that “somewhere” can
be within any of the many, many
companies—manufacturing, wholesaling
and retailing—that make it up. Marketing
management is practiced in every one of
them. Assume, to simplify, that we are
concerned only with the man-ufacturing
level in a direct sense because the manager
we are considering occupies a marketing
management position there. Marketing
Management performs all managerial
functions in the field of marketing.
Marketing Management identifies market
opportunities and comes out with
appropriate strategies for exploring those
opportunities profitably. It has to
implement marketing programmer and
evaluate continuously the effectiveness of
marketing-mix. It has to remove the
deficiencies observed in the actual
execution of marketing plans, policies, and
procedures. It looks after the marketing
system of the enterprise. Institute of
Marketing Management, England, has
defined Marketing Management as
“Marketing Management is the creative
management function which promotes
trade and employment by assessing
consumer needs and initiating research and
development to meet them. It co-ordinates
the resources of production and distribution
of goods and services, determines and
directs the total efforts required to sell
profitably to ultimate user”
Public Policy and Ethics in Marketing
Research
Intrusions on Consumer Privacy Some
individuals dislike being interrupted by
researchers or giving away feelings or
emotions. Debate over whether marketers
should track and analyze consumer’s
behavior on the Web. Confusion of
legitimate marketing research studies with
promotional efforts.
There is fear of online identify theft and
leaks of personal information
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Unit 4 Analysis and competitors
A competitor analysis, also referred to as a
competitive analysis, is the process of
identifying competitors in your industry
and researching their different marketing
strategies. You can use this information as
a point of comparison to identify your
company's strengths and weaknesses
relative to each competitor. A competitor
analysis is the process of identifying
businesses in your market that offer similar
products or services to yours and evaluating
them based on a set of predetermined
business criteria. A good competitor
analysis will help you see your business and
competitors through your customers' eyes
to pinpoint where you can improve. "A
competitor analysis focuses on identifying
market participants positioned to encroach
on your opportunity and isolates each
participant's operational strengths,
substantive weaknesses, product offerings,
market dominance, and missed
opportunities," David M.M. Taffeta, CEO
of Petal, told business.com.
Necessity and concepts and Strength and
weakness and estimate weakness.
Competitive advantage is a business
concept describing attributes that allow an
organization to outperform its competitors.
These attributes may include access to
natural resources, such as high-grade ores
or inexpensive power, highly skilled
personnel, geographic location, high entry
barriers, etc. New technologies such as
robotics and information technology can
also provide a competitive advantage,
Competitive necessity is another method of
selection and prioritization of projects is by
making decision basing on the competitive
necessity of the projects at hand. Projects
aimed at modernization or re-branding
already existing projects may be a priority
to a given firm or organization if it was to
maintain its competitive position in a
Market area. Although the planning process
for the project may be quiet, sophisticated,
the decision to undertake the project is
based on a desire to maintain the company’s
competitive position in that market. In a
similar manner, many universities and
schools in the world are restructuring their
programs to stay competitive with the more
forward-looking institutions. In large part,
this action is driven by declining numbers
of tuition-paying students and the need to
develop stronger programs to attract them.
Investment in an operating necessity project
takes precedence over a competitive
necessity project, but both types, of
projects, may bypass the more careful
numeric analysis used for projects deemed
to be less urgent or less important to the
survival of the firm. In a strengths and
weaknesses analysis you explore your
strengths and weaknesses and try to
discover the professional opportunities that
exist for you. Your personal obstacles,
issues that might hinder your progress, are
discussed as well. A strengths and
weaknesses analysis can also be called a
personal SWOT analysis. Probing your
own strengths and weaknesses will clarify
what the best next step is and how you can
improve yourself. It will also tell you more
on where you would like to work and where
you would be able to prove yourself most.
It is a good idea to prepare for an
assessment by performing your own
strengths and weaknesses analysis, so that
you are clear about what you think you have
to offer to a company and in what areas you
need improvement. These issues will be
brought up in the assessment for sure, and
having thought about it in advance will be
in your benefit. Basically this is how you
present yourself to the employer: what are
the advantages the company can count on
and what areas need to be worked on. You
do not want to mess up a presentation like
this.
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Unit 5 Differentiate and positioning the
market offering
Tools for Competitive Differentiate.
A competitive analysis is a strategy that
involves researching major competitors to
gain insight into their products, sales, and
marketing tactics. Implementing stronger
business strategies, warding off
competitors, and capturing market share are
just a few benefits of conducting a
competitive market analysis. A competitive
analysis can help you learn the ins and outs
of how your competition works, and
identify potential opportunities where you
can out-perform them. It also enables you
to stay atop of industry trends and ensure
your product is consistently meeting — and
exceeding — industry standards.
Strategy
Let's dive into a few more benefits of
conducting competitive analyses:
 Helps you identify your product's
unique value proposition and what
makes your product different from
the competitors', which can inform
future marketing efforts.
 Enables you to identify what your
competitor is doing right. This
information is critical for staying
relevant and ensuring both your
product and your marketing
campaigns are outperforming
industry standards.
 Tells you where your competitors
are falling short — which helps you
identify areas of opportunities in the
marketplace, and test out new,
unique marketing strategies they
haven't taken advantage of.
 Learn through customer reviews
what's missing in a competitor's
product, and consider how you
might add features to your own
product to meet those needs.
 Provides you with a benchmark
against which you can measure your
growth.
Tools for Competitive Differentiation
Objectives of these
: Define the concept of differentiation
 Explain how differentiation opportunities
vary with the type of industry
 Identify the continuum along which
product differentiation takes place
 Identify the major service differentiators
 Describe how a company can differentiate
its offer using personnel,
 Know how channel of distribution may be
exploited to differentiate a company’s
offer, and finally,
 Understand the concept of image
differentiation.
Differentiation Opportunities According
to the Type of Industry
By this time you are aware of the concept
of differentiation. Opportunities for
differentiation vary according to the type of
industry. There are four types of industries
identified by the Boston Consulting Group
(BCG). These types are based on the sizes
of the industry and the number of
competitive advantages available to them.
Figure on the next page shows the BCG
competitive advantage matrix. According
to the matrix there are four types of industry
based on the size and differential
advantages available to the industries. They
are: the volume industry; the stalemated
industry; the fragmented industry; and the
specialized industry. According to Philip
Kotler, “Marketing Management is the art
and science of choosing target markets and
building profitable relationship with them.
Marketing management is a process
involving analysis, planning, implementing
and control and it covers goods, services,
ideas and the goal is to produce satisfaction
to the parties involved”.
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Unit 6 New Product Development
Challenges of the organization of new
product
There is more than one reason why
companies should create new products.
Developing quality new engineering
products consistently and having a
stronghold in your niche market is one of
the most powerful but difficult activities in
business (Clark and Wheelwright 1995).
75% of new product developments fail,
which shows how challenging it can be for
the new engineering product design team to
succeed. Product designers face various
challenges during the development cycle,
however, not all of them are technical.
Some of the challenges are due to external
factors such as cost, economic changes,
competitor influence, company policy etc.
 Trade-offs
 Product economics
 Global competition
 Time pressure
 Dynamic environment
What is consumer adoption process?
The consumer adoption process is a 5 step
mental process which consists of
awareness, interest, evaluation, trial, and
adoption. All consumer goes through this
process while adopting the product from
leaning to becoming a loyal customer. The
process of consumer examination,
comparison and evaluation of the product
before making a purchase decision
comprises of Stage 3 in the Adoption
Process. Consumer behavior varies in
intensity according to the need, the price of
the product, features of the product and the
value that the product delivers.
The first and foremost challenge is to bring
skilled people on board who can contribute
effectively towards the development of a
new product. Launching a new product
requires thorough market research, surveys,
meeting clients to understand their buying
behaviour and preferences. Organizations
need to do their homework carefully in the
beginning itself for long term success. Not
many people are quite comfortable moving
out in the field, talking to end-users to find
out what type of product would be an
instant hit among them. If such people are
entrusted the responsibility of developing
new product, it would be extremely difficult
for the brand to find acceptance among
target audience. Data collection, surveys,
studying market trends are extremely
crucial in new product development and
wrong people doing the same would lead to
wastage of company resources. Identifying
the right individual who has the passion to
think out of the box and doing things
differently is a big challenge in new product
development. Employees who work just for
salary would not be able to do justice in
such a role.
Paper work, sorting out legal matters,
necessary permissions from external
(government agencies), and copyright
issues requires undivided attention and pose
to be a major threat in new product
development. Organizations need to ensure
they have individuals who are excellent in
tie ups, Liaoning and eventually getting
things done. Make sure you have someone
who can arrange for permits, product
licenses so that you do not land up in soup.
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Unit 7 Managing Life cycle Strategies
Stages and shape of Product cycle
A standard project typically has the
following four major phases (each with its
own agenda of tasks and issues): initiation,
planning, implementation, and closure.
Taken together, these phases represent the
path a project takes from the beginning to
its end and are generally referred to as the
project “life cycle.” very product we
encounter has a life cycle.
The product life cycle has four stages, from
its introduction in an office to the product’s
decline and removal from store shelves. It’s
imperative for a business to fully
understand all four stages of the product life
cycle. Misunderstanding or a lack of
knowledge at any stage can lead to the
product’s failure.
In a piece published in the Harvard
Business Review, Joan Schneider and Julie
Hall – partners in a firm specializing in
product launches – found that 75 percent of
consumer-packaged goods and retail
products fail to earn as little as $7.5 million
in their first year, a benchmark of a
successful launch.
Part of the problem that Schneider and Hall
found is that companies aren’t prepared for
the marketing and advertising aspect of
their product until it is too late.
Companies will adjust and shape their
marketing and advertising efforts around a
product’s life cycle. It’s crucial that a
company spends time and money wisely at
each stage to boost growth and control a
bigger share of the market.
Marketing Theories
The most effective marketing theories are
based on real-life observations and are
useful not just for marketing but also for
many different aspects of business.
Agencies, such as a custom design web
agency or a social media advertising
agency, usually uses a multi-pronged
approach for campaigns, influenced by
different marketing theories and personal
experiences with marketing. Today, we
will discuss six theories that can help you
understand your customers and create
campaigns that address their needs.
 Maslow’s Hierarchy of Needs
 Seven P’s of the Marketing Mix
 SWOT Analysis
 Consumer Decision Making
Process
 Market Segmentation
 Porter’s Five Forces

Market Evolution
Market evaluation is a research of a
marketplace aimed at determining whether
a new company can perform well and
succeed in a new business environment. It
helps receive insights into competitors,
market trends and make strategic business
decisions. From single-celled sales sheets
all the way up to complex ecosystems that
rely on interdependent relationships among
products, businesses and customers, the
evolution of marketing is quite a tale. It gets
even more impressive when you think
about the fact that this process of natural
selection has only been going on for just a
little over a century.