MARKETING MANAGEMENT

Marketing is meeting needs profitably.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.

4 Ps & 5 Cs of Marketing

Developing Marketing Strategies and Plan

Holistic Marketing Orientation & Customer Value

• Value exploration• Value Creation• Value delivery

Business Unit Strategic Planning

The Marketing research Process• Define the Problem, the Decision Alternatives, and the

Research Objectives

• Develop the Research Plan

• Collect the Information

• Analyse the Information

• Present the findings

• Make the Decision

Creating Customer Value and Customer relationship

Companies are becoming skilled in Customer relationship Management (CRM), which focuses on developing programs to attract and retain the right customers and meeting the individual needs of those valued customers

Analysing Consumer Market

The Buying Decision Process

Problem Recognition

Information search

Post Purchase Behaviour

Purchase Decision

Evaluation of Alternatives

Analysing Business Markets

Organizational buying is the decision-making process by which formal organizations establish the need for purchased products and services.

Identifying Market Segments and Targets

Psychographic Segmentation

• In psychographic segmentation, buyers are divide into different groups on the basis of psychological/personality traits, lifestyle, or values.

• People within the same demographic group can exhibit very different psychographic profiles.

Market Targeting

Competitive Dynamics

Product Life-Cycle Marketing Strategies

Brand Positioning & Brand Equity

No company can win if its products and services resemble every other

Identifying competitors Analysing competitors

Choosing POPs and PODs

• Brand Benefits in choosing the Points-of-parity and Points-of-difference

• Perceptual maps are visual representations of consumer perceptions and preferences.

Most Valuable Intangible Asset of a Firm :Brand Equity

Customer-based brand equity is the differential effect brand knowledge has on consumer response to the marketing of that brand.A brand has positive customer-based brand equity when customers react more favourably to a product and the way it is marketed when the brand is identified

Designing Value

Product & Services Differentiation

Superior service providers consciously strive to create a memorable customer

Price is the one element of the marketing mix that produces revenue

Channel Integration and Systems

A conventional marketing channel consists of an independent producer, wholesaler and retailer

Managing Retailing, Wholesaling, and Logistics

Integrated Marketing Communication

Marketing Communications Mix• Advertising

• Sales Promotion

• Events and experiences

• Public relations and publicity

• Direct marketing

• Interactive Marketing

• Word-of-mouth marketing

• Personal selling

Managing Mass Communications

5 Ms of Advertising

Mission

Media

MeasurementMoney

Message

Managing Personal Communications

Word of mouth

Challenges in New-Product Development

• The Innovation Imperative• New-Product Success• New-Product Failure

Global Markets

Entering The Market

• Indirect and Direct Export• Licensing• Joint ventures• Direct investment

Marketing MetricsSales MetricsCustomer Readiness to Buy MetricsCustomer metricsDistribution MetricsCommunication Metrics

CASE STUDY

Marketing Asset management

Google acquired the video hosting site in 2006 for $1.65 billion

CREATIVE THAT CRACKS THE CODE -Julia Kirby

Creative concepts for Ads

• Ad-optimizing technologies

• Filter-defying product placement, search-based

• Ad serves, real-time media bidding

• Location-based features for mobile devices

IDEAS• Variations on a Meme: Wonderful Pistachios

• The Ad as a Game: Coca-Cola China

• Collaborating with the Crowd: Oreo Cookies

• Just Enough Humour: Kia Motors America

• A New Social Movement: Marks and Spencer

• Ads That “Go Native”: Neiman Marcus and Target

Creative Indian AdsBy setting up camera feeds connected in real-time and a touchscreen vending machine that spews out instructions, friends in Lahore, Pakistan and New Delhi, India connect with gestures, waves and dance — in exchange for free Coke.

Dove made an earlier bid to reflect a woman’s true beauty in a much earlier campaign.

Creative Indian Ads

Volvo – Suspensions & Speedbumps

Car buyers associated the smooth ride across the fake speedbump with a feeling of a smooth ride made possible with the suspension system

Created by Subhasis Panda, IIT Bombay, during an internship by Prof.Sameer Mathur, IIM Lucknowwww.IIMInternship.com