Marketing Management

Only available on StudyMode
  • Download(s) : 392
  • Published : February 29, 2012
Open Document
Text Preview
Chapter 1
Demand States
1. Negative demand
2. Nonexistent demand
3. Latent demand – strong need that cannot be satisfied by an existing product 4. Declining demand
5. Irregular demand
6. Full demand
7. Overfull demand – more would like to buy than can be satisfied 8. Unwholesome demand – attraction to products with undesirable social consequences Key Customer Markets - Consumer, Business, Global, and Nonprofit and Governmental Types of Needs – Stated, Real, Unstated, Delight, Secret

Types of Marketing Environments
Task - includes the actors engaged in producing, distributing, and promoting the offering Broad – demographic, environment, economic, social-cultural, natural, and technological environment

Holistic Marketing – based on the development, design and implementation of marketing programs, processes, and activities that recognize their breadth and interdependencies. Everything matters in marketing – a broad, integrated perspective is often necessary • Relationship Marketing – aims to build mutually satisfying LT relationships with key constituents in order to earn and retain their business o Marketing Network – consists of the company and its supporting stakeholders with whom it has built mutually profitable business relationships • Internal Marketing – an element of holistic marketing, the task of hiring, training and motivating able employees who want to serve customers well

Performance Marketing – requires understanding financial and nonfinancial returns to business and society from marketing activities and programs • Corp. Social Initiatives:
o Corp. Social Marketing – supporting behavior change campaigns o Cause Marketing – Promoting social issues through efforts such as sponsorships, licensing agreements, and advertising o Cause-Related Marketing – Donating a percentage of revs. To a specific cause based on the rev. occurring during the announced period of support o Corp. Philanthropy – making gifts of money, goods, or time to help NPO’s, groups or individuals o Corp. Community Involvement – providing in-kind volunteer services o Socially responsible business practices – adapting and conducting business practices that protect the environment and human and animal rights The “New” Four P’s

1. People – reflects internal marketing and the fact that employees are critical 2. Processes – creativity, discipline, and structure
3. Programs – consumer-directed activities (Old 4P’s: Product, price, promotion, place) 4. Performance – holistic marketing
Chapter 2
Value Chain – a tool for identifying ways to create more customer value • Primary Activities – Inbound logistics, operations, outbound logistics, marketing, and service • Support Activities – Procurement, technology development, HR management, firm infrastructure

Core Competency – a source of competitive advantage and makes a sig. contribution to perceived customer benefits. Has application in a wide variety of markets and is difficult for competitors to imitate.

Mission Statements – focus on a limited number of goals, stress the company’s major policies and values, define the major competitive spheres within which the company will operate, take on a LT view, and are short, memorable, and meaningful

Business Unit Strategic Planning
1. SWOT Analysis
• External Environment
o Opportunity: area of buyer need and interest that a company has a high probability of probably satisfying o Threat: a challenge posed by an unfavorable trend or development that, in absence of defensive marketing action, would lead to lower sales/profit • Internal Environment

o Strengths
o Weaknesses
2. Goal Formulation
3. Strategic Formulations
a. Porter’s Generic Strategies
i. Overall cost leadership
ii. Differentiation
iii. Focus – one or more narrow...
tracking img