MG 220 Marketing Management

BBA 10 - Sec A Fall 2011 Muhammad Talha Salam, Asst. Professor talha.salam@nu.edu.pk

Part 1: Understanding Marketing Management

> Importance of Marketing > Scope of Marketing

Class Presentation | Session 1 | 8 Aug 2011

Importance of Marketing
Why it is required

Financial success & Marketing ability Making the right decision

Simple?

Skillful marketing: A never-ending pursuit

MG 220 Marketing Management

Scope of Marketing
What is Marketing

Some definitions:
Meeting needs profitably AMA: Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders

MG 220 Marketing Management

Scope of Marketing
What is Marketing

Some definitions (contd.):

Kotler: Marketing management is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value

MG 220 Marketing Management

Scope of Marketing
Exchanges & Transfers Exchange
Process of obtaining a desired product from someone by offering something in return

Transaction
Trade of values between two or more parties

Transfer
One party gives something to other but doesnt receive anything in return

MG 220 Marketing Management

Scope of Marketing
What is marketed?
Goods Services Events Experiences Persons Places Properties Organizations Information Ideas
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MG 220 Marketing Management

Scope of Marketing
Who markets?
Marketer, someone who seeks a response from another party, called Prospect Marketers are responsible for Demand Management
Negative Non-Existent Latent Declining Irregular Full Overfull Unwholesome
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MG 220 Marketing Management

Scope of Marketing
Who markets?
Markets, collection of buyers and sellers who transact over a particular product or product class

MG 220 Marketing Management

Scope of Marketing
Who markets?
Markets, collection of buyers and sellers who transact over a particular product or product class

MG 220 Marketing Management

Scope of Marketing
Who markets? Key Customer Markets
Consumer
Branding | Mass selling | Insights

Business
Professional buyers | well-informed

Global
Adaptability | Operational matters

N0n-profit & Government

Highly price sensitive | Competitive pricing
MG 220 Marketing Management 10

Scope of Marketing
Who markets? Marketplaces, Marketspaces & Metamarkets
Marketplaces Physical | buying yourself Marketspaces Online | Ordering
Metamarkets Complimentary products

MG 220 Marketing Management

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Scope of Marketing
How businesses are changing The Marketplace isnt what it used to be
Changing technology
Globalization Deregulation

MG 220 Marketing Management

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Scope of Marketing
How businesses are changing The Marketplace isnt what it used to be
Privatization
Customer empowerment Customization Heightened competition

MG 220 Marketing Management

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Scope of Marketing
How businesses are changing The Marketplace isnt what it used to be
Industry convergence
Retail transformation Disintermediation

MG 220 Marketing Management

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MG 220 Marketing Management

BBA 10 - Sec A Fall 2011 Muhammad Talha Salam, Asst. Professor talha.salam@nu.edu.pk

Part 1: Understanding Marketing Management

> Company Orientations toward the marketplace > Fundamental Marketing Concepts, Trends and Tasks

Class Presentation | Session 2 | 10 Aug 2011