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SWISS-AIT-VIETNAM MANAGEMENT DEVELOPMENT PROGRAMME 6

COURSE: TERM :

SM 1.51 MARKETING MANAGEMENT 1/99 (3 May to 23 July 1999)

LECTURER: Dr Godwin Nair

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GENERAL AIM OF THE COURSE

The essential focus of the course is to develop an understanding of fundamental marketing principles and practices and a basic ability to apply them within the Vietnamese marketing contexts. The course is skills-specific.

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COURSE OBJECTIVES
Upon completion of the course satisfactorily, students should be able to: appreciate the importance of a systematic marketing approach to developmental problems; identify and analyse key trends, opportunities and problems in local and regional marketing environments;

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COURSE OBJECTIVES

research, define and evaluate markets for given products and product ideas, and services; specify products rigorously, match them with corresponding markets, and outline appropriate marketing strategies; and understand the fundamentals of marketing planning and control procedures.

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LECTURE SCHEDULE Refer to page 2 of course outline EXTENDED MARKETING ACTIVITIES SCHEDULE Refer to page 3 of course outline SEMINAR TOPICS AND PRESENTATION SCHEDULE Refer to page 4 of course outline

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COURSE ASSESSMENT
Description Continuous assessment
Class participation Seminar paper and Presentation As per presentation schedule Mid-Term Exam 18/06/99 (Wk 7) Marketing Project 9/07/99 (Wk 10)

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Due Date

Marks 50%
5% 10% 10% 25%

Final examination

50% ______ 100%

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GROUP WORK

Some assessment and learning exercises are built around group work. The reasons for this are threefold: In the modern business world, no one person has the all the skills for operating a successful business. Most successful companies have a strong team working behind the scenes. Group work discussion sensitises you to a wider range of practical and theoretical issues, and give you some handson appreciation of what is it really like in the business scene.
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GROUP WORK

There is so much to do in developing a marketing plan that a good and effective marketing plan is difficult to develop if only one person does it. SEMINAR PAPER Topics for the seminar paper are presented on page 4 of the course outline. A total of 19 topics - each topic will be covered by two students. Submit a 4 to 5 page report of your seminar topic along with the presentation slides.
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GROUP WORK

SEMINAR PAPER PRESENTATION Presentations will be carried out in teams of two (2). Presentation schedule is presented on page 4 of the course outline. Each team will have total of 25 minutes presentation time (15 mins. presentation + 10 mins. discussion). Each team must provide a one page summary of their paper to each member of the class before presentation.
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MARKETING PROJECT (MARKETING PLAN)

In groups of no more than six (6) persons. The main goal of this marketing project is for project members to gain a first hand learning experience to extend classroom learning. A two (2) page executive summary describing your project to be submitted by week three (3) (21 May 1999). Refer to handout for detail instructions of the marketing project.
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CONSULTATION HOURS Wednesday 1.30pm to 4.30pm Friday 1.30pm to 4.30pm REFERENCE TEXT Kotler, P., Ang, S.W., Leong, S.M. & Tan, C.T. 1996, Marketing Management: An Asian Perspective, Prentice Hall, Singapore. ADDITIONAL REFERENCES AND SUPPLEMENTARY READING Refer to Course Outline (page 8)
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SM 1.51 MARKETING MANAGEMENT May 1999 Lecture 1

Part 1 UNDERSTANDING MARKETING MANAGEMENT

What is Marketing? The Rapid Adoption of Marketing Management The Marketing Concept The Marketing Mix Building Customer Satisfaction
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What is Marketing?

Definition of Marketing Marketing is the management process that identifies, anticipates and supplies customer requirements or organisational requirements efficiently and profitably.
(The Chartered Institute of Marketing, U.K.)

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In more detail . Marketing is the practice of identifying and selecting markets to enter with appropriate products or services to be distributed, promoted and priced according to systematic plans, for the mutual benefit of the market and marketer

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Fundamentals to remember in marketing are:

Market: in marketing, market means a set of
customers.

Customers: these are the existing and potential

users, consumers or purchasers of products or services (for example, persons, families, firms, associations,
governments)

Product: anything that can be offered to a market for

alternative acquisition, use or consumption (it includes
physical objects, services, ideas, places, organisations)
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The Marketing Mix (4 Ps) and The Marketing Environment

Refer to T1

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The Rapid Adoption of Marketing Management

1. In the Business Sector - marketing has entered
different companies consciousness at different times.

2. In the Nonprofit Sector- marketing is increasing in its attractiveness. 3. In the International Sector - marketing theory and practice are rapidly spreading throughout the world.
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The Marketing Concept

Evolution of The Marketing Concept 4 Stages of Marketing Evolution
Production Orientation Product Orientation Sales Orientation Marketing Orientation Refer to T 2
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The Marketing Concept

1. The Production or Product Concept PRODUCT MARKETER MARKET 2. The Selling Concept MARKETER PRODUCT MARKET

Philosophy: It does not matter what you sell or who to, its how you sell it that counts
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The Marketing Concept

3. The Marketing Concept MARKET PRODUCT

MARKETER

Rationale for the Marketing Concept This approach to marketing activity is recommended because it is the safest way to act; Increases the marketers chance of success; This approach is conservative and prudent; The advantage is that it can be stopped at any point along the way if it appears the project is too risky.
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Selling and Marketing Concepts Contrasted

Refer to T3 & T4

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The Marketing Mix (The 4 Ps)

Refer to T5

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Breakdown of A Typical Marketing Mix Refer to T6

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Explanation of the Breakdown of The Marketing Mix

1. Product Basic elements its main uses and benefits to customers Its basic specifications its quality level Its range Presentation (what the customer perceives at the point of acquisition)
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Explanation of the Breakdown of The Marketing Mix

its name, brand, logo (symbol) its packaging any special features or extras added to make it more desirable Other aspects guarantees or warranties sale and return offers extra services
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2. Distribution Logistics storage/materials handling transportation inventory levels Channels and Intermediaries market coverage needed appropriate types of distributors facilitators
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Explanation of the Breakdown of The Marketing Mix

3. Promotion Advertising whether or not to advertise, if so .. media messages timing of messages, budgeting, and so on Personal Selling sales territory planning sales methods and policies
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Explanation of the Breakdown of The Marketing Mix

Sales Promotion types - exhibitions, trade fairs, product demonstrations, displays, sampling, customer contests scheduling, budgeting 4. Price Basic customer conceptions of value and the right price position relative to competitors prices costs to cover
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Explanation of the Breakdown of The Marketing Mix

profit margin Other aspects policies on discounts, credit terms, allowances, etc.

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Building Customer Satisfaction

Refer to T7 Determinants of Customer Delivered Value

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Building Customer Satisfaction

Determinants of Customer Delivered Value Customer delivered value is defined as the difference between total customer value and total customer cost. (That is, the difference between the value received by the customer in purchasing a product, offset by the costs incurred in obtaining the product)

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Determinants of Customer Delivered Value

Many elements contribute to total customer value: the product itself; services included to be consumed after the sale; the personnel who assist in the purchase decision; the image of the brand under which the product is sold.

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Determinants of Customer Delivered Value

Total customer costs incurred include: the value of money that will be exchanged for the product; the time spent in making the purchase decision; the energy required in securing the information and comparison shopping; the psychic cost of making an informed purchase decision. So Final Outcome = Customer Delivered Value
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END OF LECTURE 1

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