na_ccm corporate marketing management
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NA_CCM Corporate Marketing Management. Mitchell Young. What is marketing?. The process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return. --Kotler and Armstrong (2010). - PowerPoint PPT PresentationTRANSCRIPT
NA_CCMCorporate Marketing Management
Mitchell Young
What is marketing?
The process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return.
--Kotler and Armstrong (2010).
Marketing is the management process for identifying, anticipating and satisfying customer requirements profitably.
--The Chartered Institute of Marketing. Accessed 2012.
In other words…
‘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
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.
The 7Ps of the marketing mix
Figure 1.4 The 7Ps components of the marketing mix
From 4 P’s to 4 C’s
4 P’s Model 4 C’s ModelProduct CustomerPrice CostPlace ConveniencePromotion Communication
(Competition)
Transaction Relationship
marketingFocus
Time perspective
Primary communication
Customer feedback mechanism
Market size
Criterion for success
One-off Exchange, brand management
Short-term focus
Mass communications
Isolated market research
Mass markets or market segments
Market share
Ongoing exchanges, customer management
Long-term focus
Personal communications
Ongoing dialogue
Market of One
Mind share (share of customer)
Harvard Business Review January-February 2010
Is your company customer focused? Can middle managers accurately describe
your customer promise? Can all members of your executive team
name three things that most undermine trust among your existing customers?
Is your brand really the best option? Will it continue to be?
Have you embraced any novel ideas that have produced significant innovations in the last year?
Have front line staff posed any uncomfortable questions or suggested important improvements?
The marketing environment
Company Suppliers Distributors Dealers Target customers
Demographic Economic Physical Technological Political-legal Social-cultural
Task environment Broad environment
The Marketing Plan (1of2)
I. Executive Summary
II. Current Situation (industry analysis, internal analysis, consumer analysis)
III. Environmental Analysis (PEST) IV. Market Segmentation and Target
Market Analysis V. SWOT Analysis VI. Marketing Objectives Selection
The Marketing Plan (2of2)
VII. Sales ForecastVIII. Marketing Mix Strategies
Product Promotion Price Place/Distribution
IX. Implementation PlanX. Follow up and Control Plan
Three Product Levels
Definitions of business
BP sells fuels Biersdorf sells
cosmetics Renault sells
automobiles Xerox makes copy
equipment
BP sells energy Biersdorf sells
beauty Renault supplies
transport vehicles Xerox improves
office productivity
Product definition Market definition
What are they selling?
Product or service or brand Core Product Actual Product Augmented Product
Ford Focus Freedom to travel A motor car
Spanish Holiday Relaxation Holiday insurance
Budget/No Frills Airline e.g. EasyJet or Ryanair -
An airline journeyFood bought during
your flight
Chelsea Football Club Excitement and leisure Sporting event
NikeAssociation with the
best in sports.
Nike online allows you to personalise your
trainers
Hilliers' Garden Centres Products for gardening Hilliers' gardening club
Product or service or brand Core Product Actual Product Augmented Product
Ford Focus Freedom to travel A motor car Ford finance
Spanish Holiday Relaxation Two weeks in a resort Holiday insurance
Budget/No Frills Airline e.g. EasyJet or Ryanair -
Gets you from A to B cheaply
An airline journeyFood bought during
your flight
Chelsea Football Club Excitement and leisure Sporting eventPersonalised shirts and
other merchandise
NikeAssociation with the
best in sportsShoes and other
clothing
Nike online allows you to personalise your
trainers
Hilliers' Garden Centres Leisure and relaxation Goods for gardens Hilliers' gardening club
Porter’s Generic Strategies
Sources of Growth