Principles of marketing: Lecture 9
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MGT301
Principles of Marketing
Lecture9
Summary
of
Lecture8
Marketing Process
Analyzing marketing opportunities
Selecting target markets
Developing the marketing Mix
Managing the marketing effort
DemographicEconomic
Environment
g
tin
ke ol
ar tr
M Con
Political
Legal
Environment
Target
Price
Consumers
Promotion
Competitors
Publics
Im Ma
pl rk
em et
en ing
ta
t io
n
M
An ark
al eti
ys ng
is
Place
Product
g
tin g
ke in
ar n
M lan
P
Suppliers
Technological
Natural
Environment
Marketing
Intermediaries
Social
Cultural
Environment
Analyzing marketing opportunities
changing environment
– opportunities and threats
changing firm situation
– relative strengths and weaknesses
Fit match opportunities with firm’s objectives and resources
(strengths)
Market Information System
The Marketing
Information System
Marketing
managers
Marketing Information System
Developing information
Analysis
Planning
Assessing
information
needs
Internal
records
Marketing
intelligence
Implementation
Marketing
environment
Test
markets
Marketing
channels
Competitors
Control
Distributing
information
Marketing
decision
support
analysis
Marketing
research
Marketing decisions and communication
Publics
Macroenvironment
forces
Selecting Target Markets
Firm cannot satisfy everyone
– mass marketing
Segment total market
– market segmentation
Target markets
– target marketing
– niche marketing
Developing the Marketing Mix
Marketing
Marketing Mix
Mix
Product
Place
Target
Target Market
Market
Product Variety
Quality
Channels
Coverage
Design
Assortments
Features
Locations
Brand Name
Price
Packaging
List Price
Sizes
Discounts
Services
Allowances
Warranties
Payment Period
Public Relations
Returns
Credit Terms
Direct Marketing
Promotion
Sales Promotion
Advertising
Sales Force
Inventory
Transport
Managing the marketing effort
Contents of a Marketing Plan
Executive Summary
Current Marketing Situation
Threats and Opportunity Analysis
Objectives and Issues
Marketing Strategy
Action Programs
Budgets
Controls
Marketing Implementation
Marketing
Marketing Strategy
Strategy
Organizational
Structure
Decision
and
Reward
Action
Programs
Human
Resources
Climate and
Culture
Implementation
Marketing
Marketing Performance
Performance
Marketing Control Process
Set
Goals
Measure
Performance
Evaluate
Performance
Take
Corrective
Action
Today’s Topics
Marketing Environment
Environment
All the actors and forces influencing the company’s ability to
transact business effectively with it’s target market.
Includes….
Microenvironment forces close to the company that affect its
ability to serve its customers.
Macroenvironment larger societal forces that affect the
whole microenvironment.
The Marketing Environment
Marketing Environment consists of the actors and forces outside
marketing that affect marketing management’s ability to
develop and maintain successful relationships with its target
customers.
Demographic
Cultural
Company
Publics
Company
Economic
Suppliers
Political Competitors
Customer
s
Intermediaries
Technological
Natural
The Microenvironment
Company
Company
Suppliers
Suppliers
Publics
Publics
Forces
Forces Affecting
Affecting aa
Company’s
Company’s Ability
Ability to
to
Serve
Serve
Customers
Customers
Competitors
Competitors
Customers
Customers
Intermediaries
Intermediaries
The Company’s
Microenvironment
Company’s Internal Environment
Company’s Internal Environment functional areas inside a
company that have an impact on the marketing department’s
plans.
M
an
uf
Marketing
ac
t
ur
in
g
ting
oun
Acc
Top
Manage
ment Fi
na
n
ce
R
D
&
Production
Marketing Intermediaries help the company to promote, sell, and
distribute its goods to final buyers.
Suppliers provide the resources needed to produce goods
and services.
Customers five types of markets that purchase a company’s
goods and services.
