HRM 303

MARKETING
MANAGEMENT

CHAPTER 1:
UNDERSTANDING MARKETING
MANAGEMENT
Prepared by: CHRISTIAN A. DIAZ, MBA, CHRA
 Session 4 Learning Objectives

In this chapter, we will address the following questions:

• Why is marketing important?
• What is the scope of marketing?
• What are some core marketing concepts?
• What forces are defining the new marketing realities?
• What new capabilities have these forces given
consumers and companies?
• What does a holistic marketing philosophy include?

MARKETING MANAGEMENT
 UPDATING THE FOUR Ps
• What tasks are necessary for successful marketing
management?
Original Four Ps

MARKETING MANAGEMENT
 The Four P

MARKETING MANAGEMENT
 UPDATING THE FOUR Ps
Components of
the Marketing Mix

MARKETING MANAGEMENT
 UPDATING THE FOUR
Ps
Modern Marketing
• Modern marketing
realities suggest a more
People
representative set that
encompasses modern
marketing realities: Processes
- People
- Processes Programs
- Programs
- Performance Performance
• People – reflects internal
marketing and the fact

MARKETING MANAGEMENT
 UPDATING THE FOUR
Ps
Modern Marketing
that employees and
understanding
consumers’ whole live People
are critical to marketing
success. Processes
• Processes – reflects all
the creativity, discipline, Programs
and structure brought to
marketing management. Performance

MARKETING MANAGEMENT
 UPDATING THE FOUR
Ps
Modern Marketing
• Programs – reflects all the
firm’s consumer-directed
activities. People

• It encompasses the old four Processes

Ps as well as range of other
marketing activities that
might not fit as neatly into Programs
the old view of marketing
Performance
• These activities must be
integrated such that their
whole is greater than the

MARKETING MANAGEMENT
 UPDATING THE FOUR
Ps
Modern Marketing
sum of their parts and they
accomplish multiple
objectives for the firm. People

• Performance – captures the Processes

range of possible outcome
measures that have
financial and nonfinancial Programs
implications (profitability as
well as brand and customer Performance
equity) and implications
beyond the company itself
(social responsibility, legal,

MARKETING MANAGEMENT
 UPDATING THE FOUR
Ps
Modern Marketing
ethical, and community
related)
• With the holistic marketing MARKETING MANAGEMENT TASKS
philosophy as a backdrop,
Developing market strategies and plans
we can identify a specific
set of tasks that make up Capturing marketing insights
successful marketing Connecting with customers
management and marketing
Building strong brands
leadership.
Creative value
• The tasks are as follows: Delivering value
Communicating value
Creating successful long-term growth
MARKETING MANAGEMENT
 UPDATING THE FOUR
Ps
Modern Marketing
Developing Market
Strategies and Plans

• Identifying potential long-run MARKETING MANAGEMENT TASKS

opportunities, given its
market experience and core
competencies.
MARKETING MANAGEMENT
Developing market strategies and plans
Capturing marketing insights
Connecting with customers
Building strong brands
Creative value
Delivering value
Communicating value
Creating successful long-term growth
 UPDATING THE FOUR
Ps
Modern Marketing
Capturing Marketing
Insights

• Develop a reliable MARKETING MANAGEMENT TASKS

marketing information
system to closely monitor
its marketing environment
so it can continually assess
market potential and
forecast demand.
MARKETING MANAGEMENT
Developing market strategies and plans
Capturing marketing insights
Connecting with customers
Building strong brands
Creative value
Delivering value
Communicating value
Creating successful long-term growth
 UPDATING THE FOUR
Ps
Modern Marketing
• Develop a dependable
marketing research system.

Connecting with
Customers
• Create value for its chosen
target markets and develop
strong, profitable, long-term
relationships with
customers by understanding
consumer markets.
MARKETING MANAGEMENT
MARKETING MANAGEMENT TASKS
Developing market strategies and plans
Capturing marketing insights
Connecting with customers
Building strong brands
Creative value
Delivering value
Communicating value
Creating successful long-term growth
 UPDATING THE FOUR
Ps
Modern Marketing
• Gain a full understanding of
how organizational buyers
buy. It needs a sales force
well trained in presenting
product benefits. MARKETING MANAGEMENT TASKS
Developing market strategies and plans
Building Strong Brands Capturing marketing insights
• Divide the market into Connecting with customers
major market segments,
Building strong brands
evaluate each one, and
target those it can best Creative value
serve. Delivering value
Communicating value
MARKETING MANAGEMENT Creating successful long-term growth
 UPDATING THE FOUR
Ps
Modern Marketing
• Understand the strengths
and weaknesses of the
brand as customers see it.

• Consider growth strategies

while also paying close
attention to competitors,
anticipating their moves
and knowing how to react
quickly and decisively.

MARKETING MANAGEMENT
 UPDATING THE FOUR
Ps
Modern Marketing
Creating Value
• Differentiate the service of
product (the tangible offering MARKETING MANAGEMENT TASKS
to the market, which includes
the product quality, designs, Developing market strategies and plans
features, and packaging) to Capturing marketing insights
gain a competitive advantage.
Connecting with customers
• Decide on wholesale and retail Building strong brands
prices, discounts, allowances,
Creative value
and credit terms.
Delivering value
Communicating value
Creating successful long-term growth
MARKETING MANAGEMENT
 UPDATING THE FOUR
Ps
Modern Marketing
• Prices should match well with
the offer’s perceived value;
otherwise, buyers will turn to
competitors’ products.
MARKETING MANAGEMENT TASKS
Delivering Value Developing market strategies and plans
• Deliver the value embodied Capturing marketing insights
in products and services to
the target market. Connecting with customers
Building strong brands
• Channel activities include Creative value
those the company
undertakes to make the Delivering value
Communicating value
MARKETING MANAGEMENT Creating successful long-term growth
 UPDATING THE FOUR
Ps
Modern Marketing
product accessible and
available to target
customers.

Communicating Value MARKETING MANAGEMENT TASKS

• Develop an integrated marketing
communication program that
maximizes the individual and
collective contribution of all
communication activities.
• Set up mass communication
programs consisting of
advertising, sales promotion,
events, and public relations.
MARKETING MANAGEMENT
Developing market strategies and plans
Capturing marketing insights
Connecting with customers
Building strong brands
Creative value
Delivering value
Communicating value
Creating successful long-term growth
 UPDATING THE FOUR
Ps
Modern Marketing
• Tap into online, social media, and
mobile options to reach
consumers whenever and
wherever it may be appropriate.
• Plan personal communications, in
MARKETING MANAGEMENT TASKS
the form of direct and database
marketing, as well as hire, train, Developing market strategies and plans
and motivate sales people.
Capturing marketing insights
Creating Successful Long-
Connecting with customers
term Growth
Building strong brands
• Build a marketing
organization capable of Creative value
Delivering value
Communicating value
MARKETING MANAGEMENT Creating successful long-term growth
 UPDATING THE FOUR
Ps
Modern Marketing
responsibly implementing
the marketing plan.

• Utilize feedback and control

to understand the efficiency
and effectiveness of
marketing activities and
how they can be improved.

MARKETING MANAGEMENT
ACTIVITY
Answer the following questions.

• What is modern marketing mix?

• What is meant by modern marketing?

• Why is modern marketing important?

THANK YOU
ETHICS AND BUSINESS

MARKETING MANAGEMENT