Lecture 1_Intro - Lecture 1 Introduction and Developing...

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Unformatted text preview: Lecture 1 Introduction and Developing Marketing Strategies 1 2 What is Marketing Management ? Marketing management is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value. 1- 3 Marketing of Places 4 Marketplaces, Marketspaces, and Metamarkets The marketplace is physical, The marketspace is digital, The metamarket is a cluster of complementary products and services that are closely related in the consumer’s mind but spread across a diverse set of industries. 5 Core Marketing Concepts Needs, wants, and demands Target markets, positioning, segmentation Offerings and brands Value and satisfaction Marketing channels Supply chain Competition Marketing environment 6 A. Identify and profile distinct groups of buyers who might prefer or require varying products and services mixes by examining: Demographic information Psychographic information Behavioral information A. Target market: which segments do we focus on? B. Market offering – what do we offer? What proposition should we make to customers? C. Offering and Brands Value proposition: a set of benefits they offer to customers to satisfy their needs Brand: is an offering from a known source Core Marketing Concepts 7 An example of Positioning 1- 8 E. Value and Satisfaction Successful if it delivers value and satisfaction to the target buyer Value is a central marketing concept Satisfaction reflects a person’s judgment of a product’s perceived performance E. Marketing Channels: Communication channels: different media used in promotions and marketing communications Distribution channels: intermediaries Service channels: banks, logistics firms Core Marketing Concepts 9 Core Marketing Concepts G. Supply chain: The supply chain is a longer channel stretching from raw materials to components to final products that are carried to final buyers. G. Competition and the Marketing Environment: Marketing doesn’t take place in a vacuum; there are many uncontrollable forces and stakeholders that will impact on the marketing firm Types of environmental factors: Competition, demographic, social-cultural, political-legal and technological 10 The marketplace isn’t what it used to be… Information technology Information technology Globalization Globalization Deregulation Deregulation Privatization Privatization Competition Competition Convergence Convergence Consumer resistance Consumer resistance Retail transformation Retail transformation 11 New Consumer Capabilities...
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This note was uploaded on 02/29/2012 for the course MARKETING MKT 2401 taught by Professor Yeo during the Spring '12 term at National University of Singapore.

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Lecture 1_Intro - Lecture 1 Introduction and Developing...

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