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Expert: Leo Lingham - 10/7/2009
Sir could you please answer the following two questions for me? I need your help in answering these. PLease reply me as soon as possible. 1. Marketing management an artistic exercise and therefore highly subjective versus marketing management is largely a scientific excercise with well established guidelines and criteria 2. How does cause or corporate societal marketing affect consumer's personal behavior? Clarify in context to the products and services you are using or planning to purchase.
HERE IS SOME USEFUL MATERIAL.
1. Marketing management an artistic exercise and therefore highly subjective versus marketing management is largely a scientific excercise with well established guidelines and criteria
MARKETING MANAGEMENT IS A SCIENTIFIC
EXERCISE WITH ESTABLISHED GUIDELINES/ OBJECTIVES.
SCOPE OF MARKETING MANAGEMENT
Establish , direct, administer and coordinate the overall product marketing programs for all Products..
Strategically plan for, develop and profitably penetrate the markets to which the products, services and capabilities of the company can be directed. These activities include
-studying economic indicators
-tracking changes in supply and demand
-identifying customers and their current and future needs -monitoring the competition.
THIS SCOPE IS THE RESULT OF
ON THESE ELEMENTS.
Key Success factors
Customer/Market Segment Analysis
Biggest Customers/Market Segments
Profitable ones/Attractive Potential
CONSIDER THE VARIABLES
1) Benefits sought
4) Organisational type
5) Geographic location
6) Customer loyalty
7) Price sensitivity
What elements of the product/service do the Customers/segments value most? What are their objectives? What are they really buying? What are their priorities? What changes are taking place?
Why are some customers/segments dissatisfied? Why are some changing brands or suppliers? What are some unmet needs they can identify? What are some unmet needs they are unaware of?
WHO ARE THE COMPETITORS?
• Against whom do we usually compete?
• Who are our most intense competitors?
• Who are our less intense but still serious competitors?
• What are the substitute products?
• Can these competitors be grouped on the basis of their products or strategies?
• Are there any potential competitive entrants?
EVALUATING THE COMPETITORS
• What are their strategies? Their level of commitment?
Do they have a significant advantage or disadvantage?
• What is their image/positioning strategy?
• Which are the most successful/unsuccessful competitors? Why?
• What are their strengths/weaknesses?
• What are their leverage points?
Structure of the Segment/Customer
1. SIZE AND GROWTH
• What are their size and growth characteristics?
• What are the driving forces behind their...