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Marketing Management
September 22, 2011 | Class 02@ HKIMSR
2011, Prof. T. G. Roy
Learning Objectives:
Know how Marketing affects customer value Know how strategic planning are carried out at different levels of the organization Know what is included in the Marketing Plan
Characteristics of Core Competencies A source of competitive advantage Applications in a wide variety of markets Difficult to imitate
To achieve our objectives in an environment of fairness, honesty, and courtesy towards our clients, employees, vendors, and society at large.
Biocon
eBay
We help people trade anything on earth. We will continue to enhance the online trading experiences of allcollectors, dealers, small businesses, unique item seekers, bargain hunters, opportunity sellers, and browsers.
Product
We make copying equipment We make movies We sell encyclopedias We make air conditioners and furnaces
Market
We improve office productivity We entertain people We distribute information We provide climate control inside homes
CONGRATULATIONS!!
All of you present here just cleared the Nursery Exam (Level 0) for becoming a Successful Marketing Professional
What is SBU?
It is a single business or collection of related businesses It has its own set of competitors It has a leader responsible for strategic planning and profitability
Intensive Growth
Corporate managers first course of action should be a review of opportunities for improving existing businesses: Market penetration strategy (gain more market share) Market development strategy (new markets for current products) Product development strategy (new products for current markets) Diversification strategy (new products for new markets)
Integrative Growth
Sales and profits can be increased through Backward Integration Forward Integration Horizontal Integration
Diversification Growth
When opportunities are found outside the present business and the company has the right mix of business strengths to be successful: New products that have technological or marketing synergies with existing product lines New products unrelated to the current industry New businesses unrelated
Customer groups
Customer needs
Technology
SWOT Analysis
Strengths Weaknesses Opportunities Threats
Market Opportunity Analysis (MOA) (contd.) Can the company deliver the benefits better than any actual or potential competitors? Will the financial rate of return meet or exceed the companys required threshold for investment?
FedEx
FedEx added Sunday deliveries based on customer requests and market demand
2-47
Opportunity Matrix
Threat Matrix
Is the plan simple? Is the plan specific? Is the plan realistic? Is the plan complete?
Marketing Debate
What good is a mission statement? Take a position: 1. Mission statements are critical to a successful marketing organization or 2. Mission statements rarely provide useful marketing value.