Marketing Management 1 lecture for Iqra 2

Marketing Management 1 lecture for Iqra 2 - Todays talk...

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Today’s talk Marketing Definition Importance of Marketing Aim of the marketing Story Core Marketplace Concepts Product does work alone……. Debate Question Marketing process Sales drop why?
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Definitions Marketing is managing profitable relationships (Philip Kotler, 2005) Marketing is the management process that identifies, anticipates and supplies customer requirements efficiently and profitably by keeping the concept of CRM (Blythe 2001) Broadly defined, marketing is a managerial process by which individuals and groups obtain what they need & want through creating and exchanging value with others (Kotler, P 2006)
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Importance of marketing: Advantages Financial success depends on marketing ability increase market size and market share, customer choices competitive price Helps in economic growth Fuller employment , increase GDP, foment research- ideas. If the co does not sell its products successfully, does not required accountant, financial manager, production manager, personal manager , so on Kotler 2006
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Aim of the marketing The aim of the marketing is to create value for customers and to capture value in return Attract new customers by promising superior value and keep and grow current customers by delivering customers satisfaction ( Kotler P, 2006)
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Story 2 friends Alex And Moin visited a restaurant in Manchester after the match we were hungry and decided to have a dinner to fulfill our hunger. I ordered Nehari but Alex asked for stake. This will give a great understanding about the concept of need, want and demand
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Core Marketplace Concepts Needs Wants Demands Marketing offers or Products Exchange Markets
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Product does not work alone 7 Ps must be considered effectively
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Question What are the reasons of building factories, hire employees, schedule meetings, or engage in any business activity?
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Lancashire Evening Post , Preston, 2005 The only value your company will ever create is the value that comes from customers, the ones you have Businesses succeed by getting, keeping, and growing customers. Customers are the only reason you build factories, hire employees, schedule meetings, or engage in any business activity.”
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Marketing process EQUITY BUILDING BUSINESS BUILDING 1. Understand the customer’s need 1. Design a customer-driven marketing strategy 1. Preparing a marketing plan & program 1. Building customer relationships 1. Capturing value from customer
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THE END The End
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Understand the Marketplace and Consumer needs (1st step) Needs, wants and demands Target market Marketing offers Proposition value competitive advantage Value & satisfaction [ value can be seen as quality service price qsp] Supply chain Upstream Channels Marketing environment
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Design a Customer-Driven Marketing Strategy (2nd step) 1. Selecting customers : market segmentation, market target
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This note was uploaded on 03/10/2011 for the course DBA 201 taught by Professor Ahmed during the Spring '11 term at Alaska Pacific University.

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Marketing Management 1 lecture for Iqra 2 - Todays talk...

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