Topic 1 Understanding Marketing Management 2008-3-5 Marketing Management UG)
2008-3-5 Marketing Management (UG) 1 Understanding Marketing Management Topic 1
LEARNING OBJECTIVES After completing this topic you should know Fundamental marketing concepts Why marketing is important What is the scope of marketing How marketing management has changed What the necessary tasks are for successfu marketing management 2008-3-5 Marketing Management UG)
2008-3-5 Marketing Management (UG) 3 LEARNING OBJECTIVES • After completing this topic, you should know: – Fundamental marketing concepts – Why marketing is important – What is the scope of marketing – How marketing management has changed – What the necessary tasks are for successful marketing management
What is Marketing? Meeting needs profitably Marketing deals with identifying and meeting human and social needs AMA (American Marketing Association) 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 2008-3-5 Marketing Management ( UG)
2008-3-5 Marketing Management (UG) 4 What is Marketing? • “Meeting needs profitably” – Marketing deals with identifying and meeting human and social needs. • AMA (American Marketing Association) – 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
What is 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 营销是科学还是艺术? “既具艺术性,更具科学性;营销的艺术性象天上的风筝,天有 多高,就可以飞多高,其科学性则是风筝的线;没有线的风 筝,不仅不可能飞得很高,而且,也只能是乱飞,因为离开了 线的牵引和指导,它没有根据和目标。 (PKU江明华) 2008-3-5 Marketing Management UG)
2008-3-5 Marketing Management (UG) 5 What is 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. • 营销是科学还是艺术？ – “既具艺术性，更具科学性；营销的艺术性象天上的风筝，天有 多高，就可以飞多高，其科学性则是风筝的线；没有线的风 筝，不仅不可能飞得很高，而且，也只能是乱飞，因为离开了 线的牵引和指导，它没有根据和目标。” ---- (PKU 江明华 )
What Is marketed? Goods Physical goods constitute the bulk of production and marketing efforts Services A growing portion of business activities are focused on the production of services. The U.S. economy today consists of a 70-30 services to goods mⅨX Events Marketers promote time-based events such as trade shows artistic performances, and the Olympics Experiences By orchestrating several services and goods, a firm can create and market experiences such as Walt Disney World's Magic Kingdom Persons Celebrity marketing is a major business 2008-3-5 Marketing Management ( UG)
2008-3-5 Marketing Management (UG) 6 What Is Marketed? • Goods – Physical goods constitute the bulk of production and marketing efforts. • Services – A growing portion of business activities are focused on the production of services. The U.S. economy today consists of a 70–30 services to goods mix. • Events – Marketers promote time-based events such as trade shows, artistic performances, and the Olympics. • Experiences – By orchestrating several services and goods, a firm can create and market experiences such as Walt Disney World’s Magic Kingdom. • Persons – Celebrity marketing is a major business
What Is Marketed?(Cont) Places Cities, states, regions, and whole nations compete actively to attract tourists factories and new residents Properties Are intangible rights of ownership of either real property(real estate)or financial property(stocks and bonds) Organizations Actively work to build a strong, favorable, and unique image in the minds of their target publics · Information Can be produced and marketed as a product. Schools, universities, and others produce information and then market it · ldeas Every market offering includes a basic idea. Products and services are platforms for delivering some idea or benefit 2008-3-5 Marketing Management UG)
2008-3-5 Marketing Management (UG) 7 What Is Marketed? (Con’t) • Places – Cities, states, regions, and whole nations compete actively to attract tourists, factories, and new residents. • Properties – Are intangible rights of ownership of either real property (real estate) or financial property (stocks and bonds). • Organizations – Actively work to build a strong, favorable, and unique image in the minds of their target publics. • Information – Can be produced and marketed as a product. Schools, universities, and others produce information and then market it. • Ideas – Every market offering includes a basic idea. Products and services are platforms for delivering some idea or benefit
Markets Economists describe a market as a collection of buyers and sellers who transact over a particular product or product class · Marketers use the term“ market" to cover various groups of customers. They view the sellers as constituting the industry and the buyers as constituting the market. They talk about need markets, product markets demographic markets, and geographic markets 2008-3-5 Marketing Management UG)
2008-3-5 Marketing Management (UG) 8 Markets • Economists describe a market as a collection of buyers and sellers who transact over a particular product or product class. • Marketers use the term “ market” to cover various groups of customers. They view the sellers as constituting the industry and the buyers as constituting the market. They talk about need markets, product markets, demographic markets, and geographic markets
Key Customer Markets · Consumer markets Consumer goods and services such as soft drinks and cosmetics spend a great deal of time trying to establish a superior brand Image · Business markets Companies selling business goods and services often face well trained and well-informed professional buyers who are skilled in evaluating competitive offerings ·G| obal markets Companies face challenges and decisions regarding which countries to enter, how to enter the country, how to adapt their products/services to the country, and how to price their products Nonprofit and Governmental Markets Companies selling to these markets have to price carefully because these organizations have limited purchasing power 2008-3-5 Marketing Management ( UG)
2008-3-5 Marketing Management (UG) 9 Key Customer Markets • Consumer Markets – Consumer goods and services such as soft drinks and cosmetics, spend a great deal of time trying to establish a superior brand image. • Business Markets – Companies selling business goods and services often face welltrained and well-informed professional buyers who are skilled in evaluating competitive offerings. • Global Markets – Companies face challenges and decisions regarding which countries to enter, how to enter the country, how to adapt their products/services to the country, and how to price their products. • Nonprofit and Governmental Markets – Companies selling to these markets have to price carefully because these organizations have limited purchasing power
Marketplace, Marketspace & Metamarket The marketplace is physical The marketspace is digital · Metamarkets a cluster of complementary products and services that are closely related in the minds of consumers but are spread across a diverse set of industries E.g. the automobile indust Manufacturer · Spare parts dealers · Car dea|er Service shops Financing companies Auto magazines · Mechanics Auto sites on the internet 2008-3-5 Marketing Management UG)
2008-3-5 Marketing Management (UG) 10 Marketplace, Marketspace & Metamarket • The marketplace is physical • The marketspace is digital. • Metamarkets – a cluster of complementary products and services that are closely related in the minds of consumers but are spread across a diverse set of industries. – E.g., the automobile industry • Manufacturer • Car dealer • Financing companies • Mechanics • Spare parts dealers • Service shops • Auto magazines • Auto sites on the Internet
The Changing Business Marketing Changing technology Globalization Deregulation Privatization Customer empowerment · Customization Heightened competition Industry convergent Disintermediation 2008-3-5 Marketing Management UG)
2008-3-5 Marketing Management (UG) 11 The Changing Business & Marketing • Changing technology. • Globalization. • Deregulation. • Privatization. • Customer empowerment. • Customization. • Heightened competition. • Industry convergent. • Disintermediation