lecture 1 - Module 1 ROLE OF MANAGEMENT UBC SUMMER PROGRAMS...

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Module 1 ROLE OF MANAGEMENT UBC SUMMER PROGRAMS 2014 LECTURE 1 1
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content Interaction of Management, Finance and Marketing Roles Decision-Making Process & Complexity Leadership, Management, Entrepreneurs Required Business Skills 2
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INTERACTION OF MARKETING, FINANCE AND MANAGEMENT FUNCTIONS marketing finance management 3
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Marketing functions include .. Industry Analysis: Competitive Analysis: Target & Segment Market Analysis: Sales Volume Potential Political/Regulatory/Legal Factors: Marketing Mix – 4 Ps 4
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Marketing functions include .. Industry Analysis: industry in which the product/service will be competing. Competitive Analysis : competitors in the industry. Description of Competition Competitive Advantage Competitive advantage defines the window of opportunity for the product or service. 5
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6 Example of industry & competition changes Industry Changes ..redefinition Cannes Lion Award-Winning "Three Little Pigs advert" http://www.youtube.com/watch?v =vDGrfhJH1P4 Competition Changes ..redefinition Amazon Fresh? Alibaba.com!! http :// abcnews.go.com/Business/vide o/big-number-summer-blockbus ter-alibaba-ipo-heats-245198 73
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Target & Segment Market Analysis : group(s) within the total industry that has the greatest potential to purchase the product or service. Sales Volume Potential (from that target/segment) market share or sales that the business can realistically expect. 7
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8 Example of segments
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9 Examples of segments: vegetarianism or meatless
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10 Examples: shopping by brand and price
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Political/Regulatory/Legal Factors : regulations that affect the production, safe use and manufacturing, and quality assurance of the product/service. Labeling, Food Safety, Labour, Trade and Tariff Regulations & Relevant State/Provincial/Federal Legislation. 11
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12 examples
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Marketing Activities : Marketing activities includes the strategy, goals and benchmarks in the areas of product/service, price, communications, distribution, sales, market penetration and growth for the business. Marketing Mix of 4 Ps… Product/Service Strategy Pricing Strategy Distribution Strategy Communication Strategy 13
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example: new product development 14
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GMO and Chipotle http://money.cnn.com/video/news/2013/06/20/ n-chipotle-genetically-modified-food.cnnmon ey/ Chipotle Scarecrow http://www.youtube.com/watch?v=lUtnas5ScSE 15 Example: product promises …
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16 Example: promotion concepts
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Marketers focus on.. Understand the customer, the target market Understand the industry & competition Support the sales function Create shareholder value Determine what products a company can sell Providing customer value Manage the 4Ps of price, place, product & promotion Keep the boss happy – and who is the boss? 17
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FINANCIAL MANAGEMENT 18
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Financial management functions..
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