Marketing Management

Marketing Management - Marketing Management Introduction to...

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Marketing Management 1/18/2008 University of North Texas 1 Introduction to Marketing Management Dr. Kenneth N. Thompson University of North Texas What is marketing management? What is it that marketing 1/18/2008 University of North Texas 2 managers do?
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Marketing Management 1/18/2008 University of North Texas 2 The scope of management activities The marketing management process Market Opportunity Analysis (MOA) Markets & market segmentation 1/18/2008 University of North Texas 4 Developing marketing plans Controlling marketing plans Develop Plans St t i Pl Implement Plans Staffing Supervising Strategic Plans Tactical Plans 1/18/2008 University of North Texas 5 Control Plans Establish Control Standards Monitor, Evaluate, Correct
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Marketing Management 1/18/2008 University of North Texas 3 Implemen Market Targeting Product/Market Selection Market Segmentation Develop Marketing Plan The Market Opportunity Analysis 1/18/2008 University of North Texas 6 Implement & Control Develop Marketing Mix Market Positioning A search for product/markets in which the firm can profitably compete, that are consistent with its distinctive competencies and organizational objecti es and for hich it possesses 1/18/2008 University of North Texas 7 objectives, and for which it possesses sufficient resources.
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Marketing Management 1/18/2008 University of North Texas 4 Define Relevant Product/Market The Market Opportunity Analysis Define Market Segments Competito Customer Industry Demand Target Marketing 1/18/2008 8 Competitor Analysis Analysis Analysis Analysis Select Market Target(s) The organizational mission is a statement of company purpose, identifying the business the firm wishes to be in; a statement of the firm’s primary areas of 1/18/2008 University of North Texas 9 product and market focus.
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Marketing Management 1/18/2008 University of North Texas 5 Office Equipment Manufacturer •"We are in the business of problem solving. Our business is to help solve administrative, scientific, and human problems.“ •Not “We build and sell quality office equipment.” Wal Mart •“We deliver low prices, every day, and give ordinary folks the chance to buy the same things as rich people.” •Not “We operate discount stores.” 1/18/2008 University of North Texas 10 Mission is ‘market oriented’ •Expressed in terms of need satisfaction •Avoid defining mission as "building & selling" products •Marketing Myopia •Marketing Short sightedness •Mission takes on product focus Builds on distinctive competencies Not too broad; too narrow 1/18/2008 University of North Texas 11
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Marketing Management 1/18/2008 University of North Texas 6 “We build and sell “We build and sell slide rules for a wide range of applications.” Or 1/18/2008 University of North Texas 12 “We are in the business of helping solve administrative, scientific, and human problems.“ Old/Existing MARKETS New Old/existing PRODUCTS Market penetration Market development Joint 1/18/2008 University of North Texas 13 New Product development Joint Development
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Marketing Management 1/18/2008
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Marketing Management - Marketing Management Introduction to...

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