MG 220 Marketing ManagementBBA 09 – Sec C

Fall 2010

Muhammad Talha Salam, Asst. Professortalha.salam@nu.edu.pk

Access it online: www.slideshare.net/talhasalam

Part 1: Understanding Marketing Management

> Importance of Marketing> Scope of Marketing> Company orientation toward the

marketplace

Class Presentation | Session 1 | 9 Aug 2010

MG 220 Marketing Management 2Access it online: www.slideshare.net/talhasalam

Importance of MarketingWhy it is required

• Financial success & Marketing ability• Making the right decision– Simple?

• Skillful marketing: A never-ending pursuit

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Scope of MarketingWhat is Marketing

• Some definitions:– “Meeting needs profitably”– AMA: “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”

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Scope of MarketingWhat is Marketing

• Some definitions (contd.):– Kotler: “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”

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Scope of MarketingExchanges & Transfers

• Exchange– Process of obtaining a desired product from

someone by offering something in return

• Transaction– Trade of values between two or more parties

• Transfer– One party gives something to other but doesn’t

receive anything in return

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Scope of MarketingWhat is marketed?

• Goods• Services• Events• Experiences• Persons• Places• Properties• Organizations• Information• Ideas

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Scope of MarketingWho markets?

• Marketer, someone who seeks a response from another party, called Prospect

• Marketers are responsible for Demand Management– Negative– Non-Existent– Latent– Declining– Irregular– Full– Overfull– Unwholesome

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Scope of MarketingWho markets?

• Markets, collection of buyers and sellers who transact over a particular product or product class

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Scope of MarketingWho markets?

• Key Customer Markets– Consumer

Branding | Mass selling | Insights

– BusinessProfessional buyers | well-informed

– GlobalAdaptability | Operational matters

– N0n-profit & GovernmentHighly price sensitive | Competitive pricing

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Scope of MarketingWho markets?

• Marketplaces, Marketspaces & Metamarkets– Marketplaces

Physical | buying yourself

– MarketspacesOnline | ‘Ordering’

– MetamarketsComplimentary products

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Scope of MarketingHow businesses are changing

• “The Marketplace isn’t what it used to be”– Changing technology

– Globalization

– Deregulation

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Scope of MarketingHow businesses are changing

• “The Marketplace isn’t what it used to be”– Privatization

– Customer empowerment

– Customization

– Heightened competition

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Scope of MarketingHow businesses are changing

• “The Marketplace isn’t what it used to be”– Industry convergence

– Retail transformation

– Disintermediation

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Company Orientations toward the marketplace• Different approaches companies use for

marketing– Production– Product– Selling– Marketing– Holistic Marketing

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Company Orientations toward the marketplace• The Production Concept

– Consumers will favor products that are “widely available” & “inexpensive”

– Focus on “Production”

• The Product Concept– Consumer will favor those products that offer the

most quality, performance or innovation– Focus entirely on “Product development”– What if: not priced, distributed, advertised and sold

properly?

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Company Orientations toward the marketplace• The Selling Concept

– Customers (consumers & businesses), if not engaged, will not buy enough

– Aggressive selling & promotion is required– Practiced with unsought goods

• The Marketing Concept– Replace product-centred “make-and-sell” with

“sense-and-respond”– Reactive market orientation– Proactive market orientation

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Company Orientations toward the marketplace• The Holistic Marketing Concept

– “Everything matters”– Based on the development, design and

implementation of marketing programs, processes, and activities that recognizes their breadth and interdependenices

– 4 Components• Relationship marketing• Integrated marketing• Internal marketing• Social responsibility marketing

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Company Orientations toward the marketplace

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Company Orientations toward the marketplace

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Company Orientations toward the marketplace

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Company Orientations toward the marketplace

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Quick Recap

• Importance of Marketing

• Scope of Marketing

• Company orientation toward the marketplace

MG 220 Marketing ManagementBBA 09 – Sec C

Fall 2010

Muhammad Talha Salam, Asst. Professortalha.salam@nu.edu.pk

Access it online: www.slideshare.net/talhasalam

Part 1: Understanding Marketing Management

> Fundamental Marketing Concepts, Trends and Tasks

> Marketing & Customer Value> Corporate and Division Strategic

Planning> Business Unit Strategic Planning> Product Planning: The Nature and

Contents of a Marketing PlanClass Presentation | Session 2 | 11 Aug 2010