a.Introduction to marketing planning 1

a.Introduction to marketing planning 1 - • choosing and...

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Definitions of marketing ‘Marketing is the management process that identifies, anticipates and satisfies customer requirements profitably’ The Chartered Institute of Marketing
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‘The right product, in the right place, at the right time, and at the right price’ Adcock et al
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‘Marketing is the human activity directed at satisfying human needs and wants through an exchange process’ Kotler 1980
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‘Marketing is a social and managerial process by which individuals and groups obtain what they want and need through creating, offering and exchanging products of value with others’ Kotler 1991
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Implications of marketing Who are our existing / potential customers? What are their current / future needs? How can we satisfy these needs? Can we offer a product/ service that the customer would value? Can we communicate with our customers? Can we deliver a competitive product of service? Why should customers buy from us?
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The marketing concept
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Unformatted text preview: • choosing and targeting appropriate customers • positioning your offering • interacting with those customers • controlling the marketing effort • continuity of performance Successful marketing requires: • P rofitable • O ffensive (rather than defensive) • I ntegrated • S trategic (is future orientated) • E ffective (gets results) Hugh Davidson 1972 Marketing management process • Analysis/Audit - where are we now? • Objectives - where do we want to be? • Strategies - which way is best? • Tactics - how do we get there? • (Implementation - Getting there!) • Control - Ensuring arrival Why is marketing planning necessary? • Systematic futuristic thinking by management • better co-ordination of a company’s efforts • development of performance standards for control • sharpening of objectives and policies • better prepare for sudden developments...
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This note was uploaded on 06/28/2010 for the course MKTG 00HP01 taught by Professor Himanshu during the Spring '10 term at Indiana Institute of Technology.

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a.Introduction to marketing planning 1 - • choosing and...

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