The Marketing Management process consists of analyzing marketing opportunities, researching and selecting target markets, designing marketing

strategies, planning marketing programs, and organizing, implementing, and controlling the marketing effort.

ANALYSING MARKET OPPORTUNITIES

Marketing Department Strategic planning department

Marketing department Inputs Marketing plans

Marketing execution

Strategic planning analysis Business unit goals

Results evaluation

Relationship between marketing and Strategic Planning

MARKETS Small Customers Word Processors

PRODUCTS

Medium Customers

Large Customers

Electronic typewriters Electric typewriters PRODUCT/MARKET GRID FOR TYPEWRITERS

RESEARCHING AND SEARCHING TARGET MARKETS

 The

Exchange Concept The Production Concept The Product Concept The Sales Concept

BASIS FOR COMPETITIVE ADVANTAGE Just-in-Time Insights: Critical for hyper-differentiation Innovation: Vital for sustainable competitive advantage

Using global analytical resources is the way to go

Efficiency capturing/ sharing knowledge & creating expert communities a must

LEVERAGING KNOWLEDGE: 4 POINT PROGRAM FOR MARKETERS

 Company
Suppliers Marketing Customers Competitors Public

Intermediaries

trend is a direction or sequence of events that have some momentum and durability

World trade enablers

Asian economic power Rise of trade blocs International monetary crises Use of barter & countertrade Move towards market economies Global lifestyles Opening of new markets Emerging translational firms Cross-border strategic alliances Regional ethnic & religious conflict Global branding

 Demographic Economic Natural Technological Political

legal Social cultural

 World

population growth Population Age Mix Ethnic Markets Educational Groups Household Patterns Shift from Mass market to Micro markets

 Income

Distribution
Debt and Credit Availability

very low incomes; mostly low incomes; very low, very high incomes; low, medium, high incomes; mostly medium incomes.
Savings,

Eg :-Japanese save about 13.1% of their income and Americans save 4.7%. The result is that Japanese banks were able to loan money to Japanese companies at a much lower interest rate than the U.S. banks could offer to U.S. companies. Hence, Japanese companies expanded faster. U.S. consumers have a high debt-to-income ratio, which slows down further expenditures on housing and large-ticket items

 Shortage

of raw Materials Increased Energy Costs Increased Pollution Levels Changing Role of Governments

 Every

new technology is a force for creative destruction. Transistors hurt the vacuum tube industry Xerography hurt the carbon paper business Autos hurt the railroads Television hurt newspapers.

Laws

Norway bans several types of sales promotion-trading stamps, contests, premiums-as unfair instruments In India food companies special permission to launch brands that duplicate what already exists in the market

Government agencies
Whirlpool Corporation is one of the companies to have established toll free numbers with govt. for its consumers.

Pressure groups
Political Action Committee (PACs) lobby with the government for various issues.eg minority rights, consumer and women rights.

Society shapes our beliefs, values and Norms

Cultural characteristics of interest to marketers High persistence of core values

Most Americans still believe in work, getting married, in giving to charity and being honest.

Existence of sub cultures

E.g. Star trek fans, Black Muslims etc

Shifts of values through time Percentage of people who value physical fitness and well-being has risen steadily over the years