managing marketing processes_seminar 1
DESCRIPTION
First seminar of my Managing Marketing Processes course in the Masters of General Management Program at the Stockholm School of Economics in Sweden: http://www.hhs.se/EDUCATION/MSC/MSCGM/Pages/default.aspxTRANSCRIPT
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Seminar 1
Managing Marketing Processes---Introduction – Understanding Marketing Management
Robin Teigland Master of General ManagementStockholm School of Economics
September 4, 2013
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Who am I? (LinkedIn Inmaps)
SSE
IFL
Industry
Research
Wharton
Stanford
McKinsey
SSE MBA
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Seminar 1 Overview
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Intended Learning Outcomes
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Course Description Multi-method
Lectures, Presentations, Cases, and External Guests Individual Assignments (55%)
Readings and questions for external guests for each class (P/F) Individual participation (10%) Final Exam (45%)
Group Assignments (45%) Seminar Hand-ins and Cases (P/F) Marketing Plan Presentations and Report (40%) Live Case Integration Module (5%)
Active learning and shared responsibility Open dialogue and discussion in and outside of class Information sharing and appropriate use of internet
inside/outside class Google docs, slideshare, twitter, etc. www.plagiarism.org
Active groupwork – pull your weight5
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Marketing Plan Group Assignment Assume role of “marketing manager” and select
existing Swedish company within specified industry Develop marketing plan for product/service not
currently offered by your company to be launched on Swedish market Completely new-to-the-world or new to your company
Must be able to access financial data for company in order to integrate with “Using Accounting Reports”
Write comprehensive marketing plan profiling competitive strategy to bring that product/service to Swedish market
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?Marketing Plan Teams
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Exercise
8 volunteers are needed
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What is a marketing course about?
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The Strategy Hierarchy
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Where should we compete?
How should we compete?
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What is Marketing?
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Marketing is an organizational function and a set of processes for creating,
communicating, and delivering value to customers and for managing
customer relationships in ways that benefit the organization and its
stakeholders.
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What is Marketing Management?
Marketing management is theart and science
of choosing target markets and getting, keeping, and growing
customers throughcreating, delivering, and communicating
superior customer value.
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Selling is only the tip of the iceberg
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There will always be need for some selling.
But the aim of marketing is to make selling
superfluous. The aim of marketing is to know and
understand the customer so well that the product
or service fits him and sells itself. Ideally,
marketing should result in a customer who is ready
to buy. All that should be needed is to make the
product or service available.Peter Drucker
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What is marketed?
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What is Marketed?
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• Goods• Services• Events• Experiences• Persons
• Places• Properties• Organizations• Information• Ideas
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Key Customer Markets
Consumer markets Business markets Global markets Nonprofit/Government markets
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Figure 1.1 A Simple Marketing System
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Company Orientations
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Production
Product
Selling
Marketing
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Marketing is about engagement
https://www.youtube.com/watch?v=qngURElbkP4
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Holistic Marketing
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Relationship Marketing
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Customers
Employees
Marketing Partners
Financial Community
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Internal Marketing
Internal marketing is the task of hiring, training, and motivating able
employees who want to serve customers well.
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Performance Marketing
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Financial Accountability
Social Responsibility
Marketing
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Types of Corporate Social Initiatives
Corporate social marketing Cause marketing Cause-related marketing Corporate philanthropy Corporate community involvement Socially responsible business practices
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The Marketing Mix
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The New Four Ps
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Processes
People
Programs
Performance
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Core Marketing Concepts
Needs, wants, and demands
Target markets, positioning, segmentation
Offerings and brands
Value and satisfaction
Marketing channels
Supply chain Competition Marketing
environment Marketing planning
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Types of Needs
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Stated
Real
Unstated
Delight
Secret
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Target Markets, Positioning & Segmentation
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Offerings and Brands
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Value and Satisfaction
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Marketing Channels
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Communication
Distribution
Service
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Marketing Environment
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Demographic
Economic
Socio-cultural
Environmental
Technological
Political-legal
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Major Societal Forces
Network information technology
Globalization Deregulation Privatization Heightened competition
Industry convergence Retail transformation Disintermediation Consumer buying
power Consumer participation Consumer resistance
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Figure 1.1 A Simple Marketing System
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Today’s Assignment
What is Marketing Management? (1-2 slides)
Based on the course readings, your previous experience, and potentially other sources, develop your own definition of marketing management.
What are the relationships between marketing management and the concepts of vision, mission, strategy, and business model?
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Today’s Assignment
What is the Marketing Manager’s role? (1-2 slides)
Based on the course readings, your previous experience, and potentially other sources, develop your own understanding of the role of the Marketing Manager.
What core skills does the Marketing Manager need and how do these differ from those of the CEO and other managers in an organization?
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Core concepts in strategy Mission
Purpose: Why we exist Vision
What we want to be Values
What we believe in and how we behave Strategy
Single precise competitive game plan that will drive the business over the next five years or so
Objective (ends), scope (domain), and advantage (means) that require trade-offs
38Collis & Rukstad, 2008
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Making choices
Strategy is about choosing what NOT to do: Which customers not to serve What products or services not to offer Which activities not to perform
Strategy is about NOT being all things to all people
Porter
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Strategy ≠ Business Model
Business model (Magretta, 2002) Describes, as a system, how the pieces of a
business fit together. Does not factor in one critical dimension of
performance: competition Reflection of a realized strategy
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Every organization has a business model . [it] makes some choices, which have consequences. [But] not every organization has a strategy - a
plan of action for different contingencies that may arise. (Casadesus et al. 2010)
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The Strategy Hierarchy
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Where should we compete?
How should we compete?
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What are the tasks of a Marketing Manager?
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Marketing Management Tasks
Develop market strategies and plans Capture marketing insights Connect with customers Build strong brands Shape market offerings Deliver value Communicate value Create long-term growth
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What is missing?
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Roleplay You have just been recruited as the new
marketing manager for Stockholm School of Economics.
You would like to request a 15% increase in the marketing budget and the President has asked you to justify this request.
Prepare 3 slides explaining the role of marketing within your organization and discuss how and why a 15% increase in the marketing budget would benefit the organization.
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For Review
Why is marketing important? What is the scope of marketing? What are some fundamental marketing
concepts? How does marketing fit into the overall
organization? What are the tasks necessary for
successful marketing management?
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