Marketing and Market Research

Topics: Marketing, Marketing research, Market research Pages: 82 (13382 words) Published: May 5, 2012

John Gokongwei School of Management

Enrico C. Osi, MBA (AGSB), PGD (Monash)

Table of Contents

Course Syllabus

Marketing Defined
Business Environment
Business Portfolios
13 Growth Strategies
Market Segmentation
Competitor Analysis
Customer Analysis
Market Positioning
Methods of Data Collection
Importance of Information
Types of Business Organizations
Small and Medium Enterprises
Setting up a Business
Marketing Formal Planning
The Company’s Vision / Mission Statements
Product Strategy
New Product Strategy
Product Life Cycle
Industry Life Cycle
Pricing Strategy
Place / Distribution Strategy
Promotion Strategy
Manufacturing and Operations
Implementation Plan
Evaluation and Controls
Financial Data / Projected Profit and Loss Statement
Financial Ratios

* the process of continuously and profitably satisfying the target customers’ needs, wants and expectations superior to competition

* is the delivery of customer satisfaction at a profit

* 2 Fold Goals of Marketing

* attract new customers by promising superior value

* keep current customers by delivering satisfaction thus building lasting relationship with them

- Take care of your customers and your market share and profits will grow

4 P’s of the Marketing Mix

1. Product – Goods or Services that a company can offer to a target market. Ex: Mongol pencil

2. Price – Amount of money that consumers have to pay to obtain product. Ex: P 10.00 per pencil

3. Place – Locations or trade channels where product is available. Ex: National bookstore

4. Promotion – Activities that persuade target consumers to buy the product. Ex: TV exposure (Unang hirit show at Channel 7) showing how Mongol pencils are made

Core Concepts of Marketing

* a. Needs

* Physical human needs in order to survive.

* Ex: food, clothing and shelter (basic needs)

Maslow’s Hierarchy of Needs

* Level 1 : Self Actualization Needs - Self development-

Level 2 : Esteem Needs - Self esteem-

Level 3 : Social Needs - Sense of belonging and love-

Level 4 : Safety Needs - Security and protection-

Level 5 : Physiological Needs - Hunger and thirst-

* b. Wants

* shaped by one’s society, culture and individual personality

* Ex: Americans “need” food but “want” a McDonald’s hamburger w/ fries and Coke soft drink

* c. Demands

* when a person has buying power, the “want” becomes a “demand”

* Ex: Consumers demanding comfort, luxury and status in a vehicle will buy a Lexus, Mercedes Benz or a BMW

d. Product

* anything (tangible or physical object) that can be offered to the market to satisfy a need, want or demand

* Ex: book, ball pen, chalk, etc.

* e. Service

* any activity or benefit (intangible or not physical object) that can be offered to another party and don’t result in the ownership of anything

* Ex: home or car repairs, plumbing or painting

f. Market

* set of actual and potential buyers of a product or service

-Ex: students, OCWs (Overseas Contract Workers)
* Marketing Management Philosophies

1. Production Concept

* consumers will favor products that are inexpensive and widely available

* management should focus on improving production and distribution efficiency to bring down prices

* Example 1 : Texas Instruments’ philosophy of increased production and lower costs in order to bring down prices of its calculators

* Example 2 : Toyota produces very affordable cars with readily available spare parts

2. Product Concept

* consumers will favor products that offer the most in quality, performance and innovative features

* organizations should strive for continuous product...
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