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• Marketing management


  The art and science of choosing target markets, getting, keeping, and growing customers through creating, delivering, and communicating superior customer value

  
• Understanding the core Marketing concepts is necessary to better understand the marketing functions

  
• Knowledge on the five Marketing Management tools will be an advantage to a marketing manager in carrying out his/her functions
• Understanding the responsibilities of a marketing manager as well as the composition of the marketing team and their respective roles is vital in managing marketing operations
• Participants of an exchange

  • Producers
  • Wholesalers
  • Retailers
  • Facilitating intermediaries (middlemen)
  • Final consumers
• Task of marketing management

  Determining and influencing the level, timing, and composition of demand to meet the organization's objectives

  
• Marketing consists of a broad spectrum of marketing functions, which help move goods and services into the hands of consumers
• Marketing managers play a critical role in ensuring the success of the business in the midst of uncertainties
• Marketing management tools

  • Marketing research
  • Product planning
  • Sales forecasting
  • Marketing planning
  • Marketing strategy

  
• Marketing research


  Helps management know the immediate marketing problems which it has to face, solve or overcome
• Product planning


  The style of the product creates the first impression the customer receives
• Four dimensions of product planning


  • Knowledge
  • Creative ability
  • Enterprising ability
  • Idea or vision
• Sales forecasting


  The prediction of the volume of sales that a company can expect during some definite time period
• Marketing planning


  The process of creating new products, pulling all the information from the first three steps (marketing research, product planning, sales forecasting) together into a cohesive, harmonious strategy

  
• Marketing strategy


  Formulating policies for the effective implementation of the marketing mix

  
• Barriers to carrying out marketing decisions


  • Communication failures
  • Lack of ability
  • Insufficient motivation
• No sound and progressive management can afford to stay aloof or oblivious to what is going on around them. Marketing management should always have its eyes directed toward the horizon looking for marketing signals as it tries to have its feet solidly anchored on the ground
• Responsibilities of a marketing manager

  • Determine a sound business strategy
  • Determine a sound merchandising strategy
  • Determine a sound selling strategy
  • Determine the type organization and operating procedures required to execute these strategies
• Marketing manager


  • Holds the key to success of the firm that could influence an increasing sales volume and the consequent profits
  • Sets the tone for the type of marketing thinking in any company and for the way it is carried out
  • Coordinates all marketing activities in line with the chosen goals and objectives that would result in improving company products, low-cost production, or products of wider or greater utility

  
• Marketing activities


  • Must be dynamic, creative, well-coordinated, receptive to customer requirements, consistent with the products and the talents of the company, efficient and strongly-directed toward both short and long-range objectives

  
• Getting marketing objectives established

  1. Objective is an act of leadership to create an environment that could lead the company to faster corporate growth and stability

  2. Characteristics of Objective: Complete and realistic, Lead to formation of broad plans and programs, Have the support and approval of top management

  3. Things to know in establishing objectives: Past and present marketing costs, Capabilities of existing production facilities, Profitability of the product line, Degree of utilization of existing personnel, Past and present position of the company in the market, Marketing difficulties or weaknesses, The corporate image of the company

  
• Converting objectives in Company Action

  Market planning is the on-going process of: Establishing clearly specified marketing objectives, Selecting marketing strategies, and Developing a detail plan of action to make the strategies work
• Reasons why marketing plans should be complete

  • The total cost of marketing plan cannot be established unless costs could be allocated to various parts, The practicability of a program can be at least pretested by requiring plans be laid out in detail, The ability of an organization to carry out a plan and the condition of people or new talent cannot be appraised in the absence of a complete plan, The necessary coordination of corporate functions and people would be turned into a jeopardy
• Functional Responsibilities of Marketing Manager

  • Sales forecasts, quotas, controls, and budgets
  • Sales planning and policy
  • Sales organization, training and compensation
  • Sales operation
  • Product servicing
  • Industry and customer relations
  • Pricing
  • Advertising and sales promotion
  • Marketing research
• Marketing management


  • Must cope with a dynamic and volatile environment in which there are long elements of uncertainty and a great difficulty in precise forecasting of results to be achieved with particular marketing efforts
  • Success depends not only upon skillful and aggressive adjustment to shifting market forces but bold innovation which can itself change the market environment
• Three Important Areas of Marketing Decisions

  • What should the product mix and effort put behind its product line?
  • What markets should be cultivated and with what intensities?
  • What methods of selling, advertising and distribution should be used in order to bring products and markets together to yield desired objectives of sales and profits?

  
• Corporate Social Responsibility


  • Philantrophic Responsibility: Marketers must consider the global effects, long-term effects, and well-being of future generations
  • Ethical Responsibility: Must disseminate a written code of ethics to employees, build a company tradition of ethical behavior, and adopt ethical and legal guidelines
  • Legal Responsibility: Must be aware and observes relevant laws and regulations
  • Economic Responsibility: Considering enviromental isues that may influence areas of marketing decision-making
• Benefits of Corporate Social Responsibility

  • Improved customer relationships
  • Increased employee loyalty
  • Marketplace succes
  • Improve financial performance
• Socially Responsible Business Models

  • Cause-Related Marketing
  • Social Marketing
• Top 10 Tips for Cause Branding


  • Select a focus area that aligns with your mission, goals, and organization
  • Evaluate your institutional "will" and resources
  • Analyze your competitors' cause positioning
  • Choose your partners carefully
  • Don't underestimate the name of your program—it's key to the identity of your campaign
  • To create a sustainable and effective program, start by developing a cross-functional strategy team
  • Leverage both your assets and those of your partner(s) to bring the program to life
  • Communicate through every possible channel
  • Go local
  • Innovate

  
• Possible Social Marketing Program Objectives

  • Cognitive Campaigns: Explain the nutritional values of different foods, Demonstrate the importance of conservation
  • Action Campaigns: Attract people for mass immunization, Motivate people to vote "yes" on a certain issue, Inspire people to donate blood
  • Behavioral Campaigns: Demotivate cigarette smoking, Demotivate use of hard drugs, Demotivate excessive alcohol consumption
  • Value Campaigns: Alter ideas about abortion, Change attitudes of bigoted people
• Marketing management must cope with a dynamic and volatile environment in which there are long elements of uncertainty and a great difficulty in precise forecasting of results to be achieved with particular marketing efforts. Success depends not only upon skillful and aggressive adjustment to shifting market forces but bold innovation which can itself change the market environment.
• Part of coping up with the dynamic environment is practing corporate social responsibility which creates favorable corporate image in the eyes of the consumers. Such image can be a huge advantage of the business over its competitors to stay long in the business field.
• Company Orientation toward the Marketplace

  • Production Concept: Consumers prefer products that are widely available and inexpensive
  • Product Concept: Consumers favor products offering the most quality, performance, or innovative features
  • Selling Concept: Businesses aim to sell what they make, rather than make what the market wants
  • Marketing Concept: Businesses achieve organizational goals by being more effective than competitors through creating, delivering, and communicating superior customer value to their target markets
  • Holistic Marketing Concept: The development, design, and implementation of marketing programs, processes, and activities
• Components of Holistic Marketing Concept

  • Relationship marketing
  • Integrated Marketing
  • Internal marketing
  • Performance marketing

  
• Controllable Factors in the Marketing Environment

  • Target market
  • Marketing Objectives
  • Marketing Organization
  • Marketing Mix
• Decisions in Marketing Mix

  • Product decisions
  • Distribution decisions
  • Promotion decisions
  • Pricing decisions
  • Control

  
• Uncontrollable Factors in the Marketing Environment

  • Consumers
  • Competition
  • Government
  • The economy
  • Technology
  • Independent media
  • Government
  • Legal Environment
  • Economic Environment
• Consumers


  Consumer's behavior is the individual's attempt to obtain satisfaction for needs. Influenced by culture and taboos
• Types of Market Structure

  • Pure competition
  • Monopolistic competition
  • Oligopoly
  • Monopoly