lecture 1 applied marketing strategies
DESCRIPTION
Lecture 1 Applied Marketing StrategiesTRANSCRIPT
![Page 1: Lecture 1 Applied Marketing Strategies](https://reader031.vdocuments.us/reader031/viewer/2022020112/577cb93b1a28aba7118d701d/html5/thumbnails/1.jpg)
APPLIED MARKETING STRATEGIES
Lecture 1
![Page 3: Lecture 1 Applied Marketing Strategies](https://reader031.vdocuments.us/reader031/viewer/2022020112/577cb93b1a28aba7118d701d/html5/thumbnails/3.jpg)
Instructor Introduction
Experience: Worked as Marketing Consultant, Researcher and
academician in Pakistan and United Kingdom. Experience in both research as well as sales/marketing
environments. Taught marketing at various national and international
universities undergraduate and postgraduate levels . At QMUL he has taught contemporary courses like Social
Media and traditional modules like Brand Management. An active researcher, trainer and marketing consultant for
various organizations.
![Page 4: Lecture 1 Applied Marketing Strategies](https://reader031.vdocuments.us/reader031/viewer/2022020112/577cb93b1a28aba7118d701d/html5/thumbnails/4.jpg)
Instructor Introduction
Education 6 years specialist education and training in marketing. Masters Degree with specialization in Marketing Queen Mary University
of London.
Research Interests Research Interest social media and probing the dynamics and working of
social media at psychological and social psychological levels. He is an imaginative, creative and curious person with a knack for
research.
Current Assignment Currently working as a lecturer at COMSATS Institute of information
Technology, Virtual Campus.
![Page 5: Lecture 1 Applied Marketing Strategies](https://reader031.vdocuments.us/reader031/viewer/2022020112/577cb93b1a28aba7118d701d/html5/thumbnails/5.jpg)
Learning Strategy/Plan
Review of Pervious Lecture/Concepts/Knowledge Discussion of Agenda Delineation of Leaning Goal Lecture Map Lecture Proper Review of Lecture Point to Ponder
![Page 6: Lecture 1 Applied Marketing Strategies](https://reader031.vdocuments.us/reader031/viewer/2022020112/577cb93b1a28aba7118d701d/html5/thumbnails/6.jpg)
Course Essentials
Course Code:MGT681 Course Title: Applied Marketing Strategies Credit Hours: 3 (3,0) Labs/Practical: No Lectures: 2 per week Prerequisite: Marketing Theory and Practice
(MGT410)
![Page 7: Lecture 1 Applied Marketing Strategies](https://reader031.vdocuments.us/reader031/viewer/2022020112/577cb93b1a28aba7118d701d/html5/thumbnails/7.jpg)
Course Overview A platform to operationalize the already accumulated knowledge Familiarize students with functional application of marketing Chance to build upon the understanding and awareness gained
from various other disciplines social sciences § Psychology§ Economics§ Sociology§ Anthropology etc.
Fashioned to combine academic discourse and the philosophy of marketing with the practioners’ approach to real time business problems.
![Page 8: Lecture 1 Applied Marketing Strategies](https://reader031.vdocuments.us/reader031/viewer/2022020112/577cb93b1a28aba7118d701d/html5/thumbnails/8.jpg)
Learning Objective
Analyse and critique various marketing theories and concept in real world business setting.
Operationalization and integration of marketing knowledge into a systematic market relevant problem solving tool.
Develop critical faculties like problem identification, problem solving and decision making to decipher contemporary marketing issue.
Develop appreciation of internal and external environment to leverage on the opportunities in the business settings.
![Page 9: Lecture 1 Applied Marketing Strategies](https://reader031.vdocuments.us/reader031/viewer/2022020112/577cb93b1a28aba7118d701d/html5/thumbnails/9.jpg)
Learning Outcomes
Appreciation of current marketing practices Develop critical thinking and analytical skills
pertinent to current marketing issues Ability to view marketing problems in their
proper theoretical background Cultivate a multidimensional approach to solve
real world marketing issues A methodical and problems solving attitude
![Page 10: Lecture 1 Applied Marketing Strategies](https://reader031.vdocuments.us/reader031/viewer/2022020112/577cb93b1a28aba7118d701d/html5/thumbnails/10.jpg)
Mode of Assessment
The course has following 4 types of assessments.
Exam1. Sessional 12. Sessional 23. Terminal
Assignment Quizzes Graded Discussion Boards.
![Page 11: Lecture 1 Applied Marketing Strategies](https://reader031.vdocuments.us/reader031/viewer/2022020112/577cb93b1a28aba7118d701d/html5/thumbnails/11.jpg)
Exams
Accounts for 75% of assessment
Exam Type Weightage Duration (Hour/s)
Sessional 1 10% 1 Hour
Sessional 2 15% 1 Hour
Terminal 50% 3 Hours
![Page 12: Lecture 1 Applied Marketing Strategies](https://reader031.vdocuments.us/reader031/viewer/2022020112/577cb93b1a28aba7118d701d/html5/thumbnails/12.jpg)
Assignment
Assignments make up 10% of the total grade. Different score but equal weightage. Subjective questions
1. MCQ based or objective type assignment All assignment must be completed in the
stipulated time framed as defined in LMS. Late assignment are not acceptable
![Page 13: Lecture 1 Applied Marketing Strategies](https://reader031.vdocuments.us/reader031/viewer/2022020112/577cb93b1a28aba7118d701d/html5/thumbnails/13.jpg)
Guidelines for Assignment
Mention your Name and Registration ID on the first page of the assignment including your
1. course name, 2. course code, 3. program (MBA, BSBA etc.), 4. semester 5. date of submission.
submit assignment in word document format (.doc or .docx).
Make sure that you save your word file in the following format:
1. YourRegistrationNo_YourName (example:fa12mba196_UmarChaudhry)2. Other file names like Assigment1 or Final are not acceptable.
![Page 14: Lecture 1 Applied Marketing Strategies](https://reader031.vdocuments.us/reader031/viewer/2022020112/577cb93b1a28aba7118d701d/html5/thumbnails/14.jpg)
Guidelines for Assignment
Please properly format you assignment A good presentation leads to better grades. Define proper heading Use consistent fonts.
1. Times New Roman 2. Calibri
Avoid over embellishments
![Page 15: Lecture 1 Applied Marketing Strategies](https://reader031.vdocuments.us/reader031/viewer/2022020112/577cb93b1a28aba7118d701d/html5/thumbnails/15.jpg)
Grading Criteria
Coherence Structure Clarity of Ideas Strength Argument Identification of Issues Comprehension of Issue Academic Rigour Sources of Ideas
![Page 16: Lecture 1 Applied Marketing Strategies](https://reader031.vdocuments.us/reader031/viewer/2022020112/577cb93b1a28aba7118d701d/html5/thumbnails/16.jpg)
Plagiarism
Make an effort not to copy from the internet
Try to write in your own words
Plagiarism is an academic offense
Sophisticated anti-plagiarism software called turnitin has the ability to show source of copied text.
![Page 17: Lecture 1 Applied Marketing Strategies](https://reader031.vdocuments.us/reader031/viewer/2022020112/577cb93b1a28aba7118d701d/html5/thumbnails/17.jpg)
Quizzes
Constitute 10% of your total assessment. Each Quiz may have different score allotted All quizzes carry equal weightage. Quizzes will be Computer based Multiples Choice Questions (MCQs) only. Time barred Auto graded. Must be completed in stipulated time framed.
![Page 18: Lecture 1 Applied Marketing Strategies](https://reader031.vdocuments.us/reader031/viewer/2022020112/577cb93b1a28aba7118d701d/html5/thumbnails/18.jpg)
Graded Discussion Board
5% of your total assessments. Discussion on the key concepts learned during
the course. Grade based on the student ability to
1. conceptualize the topic 2. respond by employing the tools and skills learned during the
course.
![Page 19: Lecture 1 Applied Marketing Strategies](https://reader031.vdocuments.us/reader031/viewer/2022020112/577cb93b1a28aba7118d701d/html5/thumbnails/19.jpg)
Brief Outline
1. Review of Concepts2. Marketing Ecology
a) Environment Scanning Techniquesb) Environment Analysis Tools
3. Strategy Formulationa) Pricing Techniques, Promotion Tools, Distribution Strategy etc
4. Strategy Implementation5. Review of Applied Strategy and Controls6. The New Global Paradigm
![Page 20: Lecture 1 Applied Marketing Strategies](https://reader031.vdocuments.us/reader031/viewer/2022020112/577cb93b1a28aba7118d701d/html5/thumbnails/20.jpg)
Teaching Methdology
Lectures Readings PowerPoint Slides Visual Media Scenario Planning Case Study Online Moderated Discussions
![Page 21: Lecture 1 Applied Marketing Strategies](https://reader031.vdocuments.us/reader031/viewer/2022020112/577cb93b1a28aba7118d701d/html5/thumbnails/21.jpg)
Concept Review
![Page 22: Lecture 1 Applied Marketing Strategies](https://reader031.vdocuments.us/reader031/viewer/2022020112/577cb93b1a28aba7118d701d/html5/thumbnails/22.jpg)
Lecture Questions
Why is marketing important? What is the scope of marketing? What are some fundamental marketing
concepts? How has marketing management changed? What are the tasks necessary for successful
marketing management?
![Page 23: Lecture 1 Applied Marketing Strategies](https://reader031.vdocuments.us/reader031/viewer/2022020112/577cb93b1a28aba7118d701d/html5/thumbnails/23.jpg)
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.
![Page 24: Lecture 1 Applied Marketing Strategies](https://reader031.vdocuments.us/reader031/viewer/2022020112/577cb93b1a28aba7118d701d/html5/thumbnails/24.jpg)
What is Marketing Management?
Marketing management is theart and science
of choosing target markets and getting, keeping, and growing
customers throughcreating, delivering, and communicating
superior customer value.
![Page 25: Lecture 1 Applied Marketing Strategies](https://reader031.vdocuments.us/reader031/viewer/2022020112/577cb93b1a28aba7118d701d/html5/thumbnails/25.jpg)
What is Marketed?
• Goods
• Services
• Events
• Experiences
• Persons
![Page 26: Lecture 1 Applied Marketing Strategies](https://reader031.vdocuments.us/reader031/viewer/2022020112/577cb93b1a28aba7118d701d/html5/thumbnails/26.jpg)
What is Marketed?
• Places
• Properties
• Organizations
• Information
• Ideas
![Page 27: Lecture 1 Applied Marketing Strategies](https://reader031.vdocuments.us/reader031/viewer/2022020112/577cb93b1a28aba7118d701d/html5/thumbnails/27.jpg)
Demand States
Negative Nonexistent Latent Declining
Irregular Unwholesome Full Overfull
![Page 28: Lecture 1 Applied Marketing Strategies](https://reader031.vdocuments.us/reader031/viewer/2022020112/577cb93b1a28aba7118d701d/html5/thumbnails/28.jpg)
Figure 1.1 Structure of Flows in Modern Exchange Economy
![Page 29: Lecture 1 Applied Marketing Strategies](https://reader031.vdocuments.us/reader031/viewer/2022020112/577cb93b1a28aba7118d701d/html5/thumbnails/29.jpg)
Figure 1.2 A Simple Marketing System
![Page 30: Lecture 1 Applied Marketing Strategies](https://reader031.vdocuments.us/reader031/viewer/2022020112/577cb93b1a28aba7118d701d/html5/thumbnails/30.jpg)
Key Customer Markets
Consumer markets Business markets Global markets Nonprofit/Government markets
![Page 31: Lecture 1 Applied Marketing Strategies](https://reader031.vdocuments.us/reader031/viewer/2022020112/577cb93b1a28aba7118d701d/html5/thumbnails/31.jpg)
Core Concepts
Needs, wants, and demands
Target markets, positioning, segmentation
Offerings and brands
Value and satisfaction
Marketing channels Supply chain Competition Marketing
environment Marketing planning
![Page 32: Lecture 1 Applied Marketing Strategies](https://reader031.vdocuments.us/reader031/viewer/2022020112/577cb93b1a28aba7118d701d/html5/thumbnails/32.jpg)
Types of Needs
Stated
Real
Unstated
Delight
Secret
![Page 33: Lecture 1 Applied Marketing Strategies](https://reader031.vdocuments.us/reader031/viewer/2022020112/577cb93b1a28aba7118d701d/html5/thumbnails/33.jpg)
Target Markets, Positioning & Segmentation
![Page 34: Lecture 1 Applied Marketing Strategies](https://reader031.vdocuments.us/reader031/viewer/2022020112/577cb93b1a28aba7118d701d/html5/thumbnails/34.jpg)
Offerings and Brands
![Page 35: Lecture 1 Applied Marketing Strategies](https://reader031.vdocuments.us/reader031/viewer/2022020112/577cb93b1a28aba7118d701d/html5/thumbnails/35.jpg)
Value and Satisfaction
![Page 36: Lecture 1 Applied Marketing Strategies](https://reader031.vdocuments.us/reader031/viewer/2022020112/577cb93b1a28aba7118d701d/html5/thumbnails/36.jpg)
Marketing Channels
Communication
Distribution
Service
![Page 37: Lecture 1 Applied Marketing Strategies](https://reader031.vdocuments.us/reader031/viewer/2022020112/577cb93b1a28aba7118d701d/html5/thumbnails/37.jpg)
Marketing Environment
Demographic Economic
Socio-cultural
NaturalTechnological
Political-legal
![Page 38: Lecture 1 Applied Marketing Strategies](https://reader031.vdocuments.us/reader031/viewer/2022020112/577cb93b1a28aba7118d701d/html5/thumbnails/38.jpg)
Major Societal Forces
Network information technology
Globalization Deregulation Privatization Heightened competition
Industry convergence Retail transformation Disintermediation Consumer buying power Consumer participation Consumer resistance
![Page 39: Lecture 1 Applied Marketing Strategies](https://reader031.vdocuments.us/reader031/viewer/2022020112/577cb93b1a28aba7118d701d/html5/thumbnails/39.jpg)
Company Orientations
Production
Product
Selling
Marketing
![Page 40: Lecture 1 Applied Marketing Strategies](https://reader031.vdocuments.us/reader031/viewer/2022020112/577cb93b1a28aba7118d701d/html5/thumbnails/40.jpg)
Holistic Marketing
![Page 41: Lecture 1 Applied Marketing Strategies](https://reader031.vdocuments.us/reader031/viewer/2022020112/577cb93b1a28aba7118d701d/html5/thumbnails/41.jpg)
Relationship Marketing
Customers
Employees
Marketing Partners
Financial Community
![Page 42: Lecture 1 Applied Marketing Strategies](https://reader031.vdocuments.us/reader031/viewer/2022020112/577cb93b1a28aba7118d701d/html5/thumbnails/42.jpg)
Integrated Marketing
![Page 43: Lecture 1 Applied Marketing Strategies](https://reader031.vdocuments.us/reader031/viewer/2022020112/577cb93b1a28aba7118d701d/html5/thumbnails/43.jpg)
Internal Marketing
Internal marketing is the task of hiring, training, and motivating able employees
who want to serve customers well.
![Page 44: Lecture 1 Applied Marketing Strategies](https://reader031.vdocuments.us/reader031/viewer/2022020112/577cb93b1a28aba7118d701d/html5/thumbnails/44.jpg)
Performance Marketing
Financial Accountability
Social Responsibility Marketing
![Page 45: Lecture 1 Applied Marketing Strategies](https://reader031.vdocuments.us/reader031/viewer/2022020112/577cb93b1a28aba7118d701d/html5/thumbnails/45.jpg)
Types of Corporate Social Initiatives
Corporate social marketing Cause marketing Cause-related marketing Corporate philanthropy Corporate community involvement Socially responsible business practices
![Page 46: Lecture 1 Applied Marketing Strategies](https://reader031.vdocuments.us/reader031/viewer/2022020112/577cb93b1a28aba7118d701d/html5/thumbnails/46.jpg)
The Marketing Mix
![Page 47: Lecture 1 Applied Marketing Strategies](https://reader031.vdocuments.us/reader031/viewer/2022020112/577cb93b1a28aba7118d701d/html5/thumbnails/47.jpg)
The New Four Ps
Processes
People
Programs
Performance
![Page 48: Lecture 1 Applied Marketing Strategies](https://reader031.vdocuments.us/reader031/viewer/2022020112/577cb93b1a28aba7118d701d/html5/thumbnails/48.jpg)
Marketing Management Tasks
Develop market strategies and plans Capture marketing insights Connect with customers Build strong brands Shape market offerings Deliver value Communicate value Create long-term growth
![Page 49: Lecture 1 Applied Marketing Strategies](https://reader031.vdocuments.us/reader031/viewer/2022020112/577cb93b1a28aba7118d701d/html5/thumbnails/49.jpg)
For Review
Why is marketing important? What is the scope of marketing? What are some fundamental marketing
concepts? How has marketing management changed? What are the tasks necessary for successful
marketing management?