MBasicsL7Repetition080 - Marketing Lecture 7 Marketing What...

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08-10-13 1 Marketing Lecture 7 Marketing What is Marketing? 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. Core Marketing Concepts
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08-10-13 2 Exchanges in the Marketing System Company Orientations The production concept Focus on production and distribution The product concept Focus on quality, performance and innovation The selling concept Undertakes large-scale selling and promotion efforts The marketing concept Determining needs and wants of the target markets The societal marketing concept Determining needs, wants and interests of the target markets Effective and efficient achieving desired satisfactions Improves consumer’s and society’s well being Developing Marketing Strategies and Plans Strategic planning “The process of developing and maintaining a strategic fit between the organization's goals and capabilities and its changing marketing opportunities
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08-10-13 3 Company Competence Resources MARKET Goals Possibilities Strategic planning The Marketing Mix Market penetration (Diversification) Product development Market development How can strategic-planning gap be filled? - Intensive growth
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08-10-13 4 STRATEGIC ADVANTAGE Unique advantages Low cost Special segments STRATEGIC GROUP Differentiation Overall cost leadership Focus Porter’s Generic Strategies Whole Market The Marketing Environment The marketing environment includes the actors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with customers 3-4 The Marketing Environment Marketing Environment Microenvironment consists of the actors close to the company that affect its ability to serve its customers, the company, suppliers, marketing intermediaries, customer markets, competitors, and publics 3-5
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08-10-13 5 The Company’s Microenvironment Marketing Environment Macroenvironment consists of the larger societal forces that affect the microenvironment Demographic Economic Natural Technological Political Cultural 3-6 The Company’s Microenvironment
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