Advertising MANAGEMENT 1 Defining Marketing for the 21 st CenturySlide 2
MARKETING MANAGEMENT In this part we will address the accompanying inquiries: What is the new economy like? What are the assignments of showcasing? What are the significant ideas and devices of showcasing? What introductions do organizations display in the commercial center? How are organizations reacting to the new difficulties?Slide 3
Old Economy VS New Economy The old economy depends on the Industrial Revolution and on overseeing producing businesses WHILE … The new economy depends on the Digital Revolution and the administration of data .Slide 4
The New Economy put the accompanying capacities in the hands of purchaser: Substantial increment in purchasing influence Greater assortment of accessible merchandise and ventures Great measure of data about for all intents and purposes anything Greater simplicity in cooperating and putting in and accepting requests A capacity to share any useful info on items and administrationsSlide 5
AND put the accompanying abilities in the hands of organizations: Operate capable new data and deals channels Collect wealthier data about business sectors, clients, prospects, and contenders Speed up interior correspondence among representatives Have two-route interchanges with clients and prospects Send special apparatuses effortlessly and rapidly Able to alter offerings Improve obtaining, enrolling, preparing and inward and outer correspondence. Keep up cost sparing while enhancing exactness and administration quality.Slide 6
Marketing and Exchange What is promoting ? The way toward arranging and executing the origination, estimating, advancement, and appropriation of thoughts, products, and administrations to make trades that fulfill individual and authoritative targetsSlide 7
Selling is just the tip of the ice sheet " There will dependably be requirement for some offering. Be that as it may, the point of promoting is to make offering unnecessary . The point of showcasing is to know and comprehend the client so well that the item or administration fits him and offers itself. In a perfect world, promoting ought to bring about a client who is prepared to purchase. All that ought to be required is to make the item or administration accessible." Peter DruckerSlide 8
Goods Services Events & Experiences Persons Places & Properties Organizations Information Ideas What is Exchanged in Marketing?Slide 9
4 Types of Markets Consumer Market: (utilization) Business Markets: (sparing/exchange) Global Markets: (distinctive offering blend) Nonprofit and Governmental Market: (offers)Slide 10
Marketing Concepts and Tools Market : a gathering of purchasers and merchants Marketplace : a physical market (store) Marketspace : a computerized showcase (Internet: e.g., www.secondlife.com ) Metamarket : markets including firmly related items and administrations (e.g., www.edmunds.com ) Marketer and Prospect : An advertiser is somebody looking for a reaction from another gathering, called the prospect.Slide 11
A Simple Marketing SystemSlide 12
Structure of Flows in a Modern Exchange EconomySlide 13
Marketing Concepts and Tools Needs : the fundamental human prerequisites Wants : particular protests that may fulfill the need Demand : needs for particular items sponsored by a capacity to pay. Illustrations: An American needs sustenance yet needs a ground sirloin sandwich, French fries and soda pop. Many individuals need a Mercedes, just a couple are capable and willing to get one.Slide 14
Marketing Debate Does Marketers Create or Satisfy Needs?Slide 15
Marketing Concepts and Tools Product : an incentivized offer Offering : impalpable strategic offer (a blend of items, administrations, data and encounters (Volvo) Brand : is an offering from a know source Examples: McDonald LexusSlide 16
Only the best is sufficient for Lexus clientsSlide 17
Marketing Concepts and Tools Value is a proportion between what client gets and what he gives Value = Benefits/Costs How to build esteem? Raise benefits Reduce costs Raise benefits and decrease costs Raise benefits by more than the raise of costs Lower benefits by not as much as the lessening of costsSlide 18
Marketing Concepts and Tools Exchange : a procedure of acquiring an item/benefit from somebody by offering something For trade to happen, there must be: Two gatherings Each with something of significant worth to the next Capable of correspondence and conveyance Free to acknowledge/dismiss the offer Agreement to terms Example : CaterpillarSlide 19
Marketing Concepts and Tools Transaction : an exchange of qualities between at least two gatherings. Does Transaction varies from TransferSlide 20
Marketing Concepts and Tools Relationship : fabricating commonly fulfilling long haul relations with key gatherings (clients, providers, merchant) keeping in mind the end goal to acquire and hold their business. Arrange : assembling commonly gainful business connections between the organization and its supporting partners.Slide 21
Marketing Concepts and Tools Marketing channels : a route/intend to achieve target advertise. Three sorts of advertising channels: Communication channels Distribution channels Service channelsSlide 22
Marketing Concepts and Tools Supply Chain : longer channel extending from crude materials to parts to conclusive items that are conveyed to definite purchasers. Rivalry : all real and potential adversary offerings and substitutes that a purchaser should seriously think about.Slide 23
Marketing Concepts and Tools Four (4) levels of rivalry: Brand rivalry : An organization sees its rivals as different organizations offering comparable items and administrations to similar clients at comparable costs. Industry rivalry : An organization sees its rivals as all organizations making a similar item or class of items. Frame rivalry : An organization sees its rivals as all organizations fabricating items that supply similar administrations. Non specific rivalry : An organization sees its rivals as all organizations that vie for a similar purchaser dollars. ( Example: Volkswagen )Slide 24
Marketing Concepts and Tools Marketing Environment : performers that effect the organization\'s offerings (undertaking & wide environment). Showcasing Program : a various choices on the blend of advertising devices to utilize. Showcasing Mix : an arrangement of promoting apparatuses the firm uses to seek after its advertising destinations in the objective market.Slide 25
The Four PsSlide 26
The Four Ps The Four Cs Marketing Mix Place Product Price Promotion Conven-ience Customer Solution CommunicationSlide 27
Marketing-Mix StrategySlide 28
Marketing Management Marketing Management (Kotler): is the examination, arranging, usage, and control of advertising projects intended to make, construct, and keep up commonly useful trades and associations with target markets with the end goal of accomplishing authoritative destinations.Slide 29
Company Orientations to the Marketplace (Marketing Management Philosophies) Production idea : expect buyers support those items that are generally accessible and reasonable . (Concentrate: wide appropriation; high volume). 2. Product idea : expect purchasers will support those items that offer the most quality, execution, and elements . (Center: Superior item)Slide 30
Company Orientations to the Marketplace , cont. Offering idea : expect that purchasers will either purchase or insufficient of the associations\' items unless the association endeavors to empower the client\'s enthusiasm for the item. (Concentrate: needs of the dealer)Slide 31
The reason for advertising is to offer more stuff to more individuals all the more frequently for more cash keeping in mind the end goal to make more benefit Coca-Cola\'s previous Vice presidentSlide 32
Company Orientations to the Marketplace , cont. 4. Advertising idea : holds that the way to accomplishing authoritative objectives comprises in deciding the necessities and needs of target markets and conveying the wanted fulfillments more successfully and proficiently than contenders. (Center: distinctive requirements of purchasers)Slide 33
(a) The Selling Concept Starting Point Focus Means Example Ends Selling and Promoting e.g., Profits through Volume Factory Products (b) The Marketing Concept Integrated Marketing e.g., Profits through Satisfaction Market Customer Needs Marketing and Selling Concepts ContrastedSlide 34
Theodore Levitt\'s "Showcasing Myopia," cont. What is the contrast amongst showcasing and offering? "The distinction amongst promoting and offering is more than semantic. Offering concentrates on the necessities of the merchant, advertising on the requirements of the purchaser. Offering is distracted with the vender\'s have to change over the item into money; advertising with fulfilling the need of the client … ."Slide 35
Marketing Concept Four Pillar 1. Target Market: custom-made advertising programs 2. Client Needs: Giving client what they need is insufficient; organizations must help clients realize what they need. Expressed, Real, Unstated, Delight & Secret Needs. (Modest auto case) Responsive, Anticipated & Creative Marketer. Showcase driving firm VS Market-driven firm. Bode well and react Philosophy. Why it\'s vital to fulfill target clients? (Client maintenance)Slide 36
Marketing Concept Four Pillar 3. Incorporated Marketing: every one of organization\'s areas of expertise cooperate to serve the client\'s advantages. a. Outer advertising : coordinated at individuals outside the organization. b. Inward advertising : the errand of procuring, preparing, and spurring capable representatives who need to serve clients well. Which one is more critical? 4. ProductivitySlide 37
Traditional Organization Chart Top Management Middle Management Front-line individuals CustomersSlide 38
Customers Front-line individuals Middle administration Customers Modern Customer-Oriented Organization Chart Customers Top oversee mentSlide 39
What makes organizations embrace showcasing idea? Deals decay Slow development Ch
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