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Lecture 1_Intro - Lecture1 Introductionand 1 2 Marketing...

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Lecture 1 Introduction and  Developing Marketing Strategies 1
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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
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Marketing of Places 4
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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
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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
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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
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An example of Positioning 1- 8
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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
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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
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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
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