Marketing Management

| You are here: * Home * Business * Small Business Information * Marketing * Marketing management Marketing/Marketing management Advertisement Expert: Leo Lingham – 10/7/2009 Question Sir could you please answer the following two questions for me? I need your help in answering these. PLease reply me as soon as possible. 1. Marketing management an artistic exercise and therefore highly subjective versus marketing management is largely a scientific excercise with well established guidelines and criteria 2. How does cause or corporate societal marketing affect consumer’s personal behavior?

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Clarify in context to the products and services you are using or planning to purchase. Answer SARA, HERE IS SOME USEFUL MATERIAL. REGARDS LEO LINGHAM ========================================= 1. Marketing management an artistic exercise and therefore highly subjective versus marketing management is largely a scientific excercise with well established guidelines and criteria MARKETING MANAGEMENT IS A SCIENTIFIC EXERCISE WITH ESTABLISHED GUIDELINES/ OBJECTIVES. SCOPE OF MARKETING MANAGEMENT —————————————————–

Establish , direct, administer and coordinate the overall product marketing programs for all Products.. Strategically plan for, develop and profitably penetrate the markets to which the products, services and capabilities of the company can be directed. These activities include -studying economic indicators -tracking changes in supply and demand -identifying customers and their current and future needs -monitoring the competition. ========================================================= THIS SCOPE IS THE RESULT OF THE FOLLOWING: * Analysis * Discussion * judgement Illustration * Decision ON THESE ELEMENTS. ——————————————– External Analysis 1. Customer Analysis Segments Motivations Unmet Needs 2. Competitor Analysis Identify Performance Image Objectives Strategies Strengths Weaknesses 3. Market Analysis Size Projected Growth Entry Barriers Distribution System Trends Key Success factors 4. Environmental Analysis Technology Government Regulations Economic Trend I A. Opportunities B. Threats C. Trends D. Others Customer/Market Segment Analysis SEGMENTATION Biggest Customers/Market Segments Profitable ones/Attractive Potential

Needs Buying Characteristics CONSIDER THE VARIABLES 1) Benefits sought 2) Usagelevel 3) Application 4) Organisational type 5) Geographic location 6) Customer loyalty 7) Price sensitivity 8) Competition MOTIVATION What elements of the product/service do the Customers/segments value most? What are their objectives? What are they really buying? What are their priorities? What changes are taking place? UNMET NEEDS Why are some customers/segments dissatisfied? Why are some changing brands or suppliers? What are some unmet needs they can identify? What are some unmet needs they are unaware of?

Competition Analysis WHO ARE THE COMPETITORS? • Against whom do we usually compete? • Who are our most intense competitors? • Who are our less intense but still serious competitors? • What are the substitute products? • Can these competitors be grouped on the basis of their products or strategies? • Are there any potential competitive entrants? EVALUATING THE COMPETITORS • What are their strategies? Their level of commitment? Do they have a significant advantage or disadvantage? • What is their image/positioning strategy? • Which are the most successful/unsuccessful competitors? Why? What are their strengths/weaknesses? • What are their leverage points? Structure of the Segment/Customer 1. SIZE AND GROWTH • What are their size and growth characteristics? • What are the driving forces behind their sales trends? 2. POTENTIAL AND PROFITABILITY • How intense is the competition among existing suppliers? • What is the threat from potential entrants? • What is the bargaining power of suppliers? • What is the bargaining power of buyers? • How difficult is selling into these accounts or segments? 3. PRICE • What are the value added components for various types of competitors? . DISTRIBUTION • What are the alternative ways of servicing this segment or account? 5. TRENDS • What are the trends in this segment/customer? 6. KEY SUCCESS FACTORS • What are the key success factors needed to compete successfully? Environmental Analysis 1. TECHNOLOGY •What technological development or trends are affecting or could affect the segment/customer? •To what extent are existing technologies maturing? 2. GOVERNMENT •What changes in regulations are possible? •What will their impact be? 3. ECONOMICS •What are economic prospects and inflation in which the segment/customer operates? How will they affect strategy? 4. GENERAL TRENDS •What are the significant trends/future events? •What threats and opportunities do you see? •What are the areas of uncertainty? •What is the impact of these on your strategy? Internal Analysis 1. Performance Analysis • Sales • Profitability • Product Quality • Customer Satisfaction • Cost • Product Performance 2. Determinants of Strategic Options • Past Strategy • Current Strategy • Strategic Problems • Organisational capabilities and Constraints • Strengths • Weaknesses A. Strengths B. Weaknesses C. Problems D. Constraints E. Others OPPORTUNITIES

What to look for New Market Segments New Customer More sales in the current customers New end uses New / modified products New geographical locations Displacing competition Others: THREATS What to look f or Competition Declining Market Reduction in the No. s of customers Others UNCERTAINTIES What to look for Demand Legislation Availability • Technical Development (Product) • Financial Resource • Pricing / G. P. • Customer Satisfaction / Buying Policies • Others OBSTACLES What to look for Sales Representation Production /Raw Materials Sourcing Distribution Inadequate Promotion Support • Inventory Customer Service • Others Sustainable Competitive Advantage, What are they? 1 . Reputation 2. Quality 3. Customer Service 4. Product Support 5. Productline depth? 6. Productline breadth? 7. Technical superiority 8. Customer base 9. Market share 10. Size 11. Distribution 12. Adaptable operation 13. Sales force network 14. Powerful wellknown parent company 15. Good engineering 16. Distributor support 17. Customer oriented 18. Continued product innovation 19. Product convenience 20. Financial package —————————————————– THE OUTCOME OF THESE ANALYSES AND DECISIONS : . Corporate VISION 2. Corporate Mission 3. Corporate Objective 4. Corporate Strategy 5. Corporate Organization Policy/ Budget Guidelines. 6. Corporate MARKETING objective/ strategy 7. Corporate Sales forecasts ————————————————————– USING THE ABOVE FOUNDATION, THE MARKETING DEPARTMENT DEVELOPS MARKETING OBJECTIVES. MARKETING MANAGEMENT HAVE OBJECTIVES. THE MARKETING OBJECTIVES ARE SCIENTIFICALLY DERIVED. FIRST –PRIME OBJECTIVE OF MARKETING -is to support and help the organization to achieve the CORPORATE OBJECTIVES. ————————————————————- SECOND OBJECTIVE -THE SECOND IMPORTANT OBJECTIVE OF MARKETING is to enable the organization survive and prosper through meeting needs and wants of customers by matching a company’s capabilities with customer needs / wants. ————————————————————– THIRD OBJECTIVE -to provide an agreed. consistent and well directed target range of volume for all departmental functions, which will help them to streamline their activities for the period. *finance *manufacturing/ production *human resource tc etc ——————————————————————- FOURTH OBJECTIVE -to provide the marketing department a tool to plan and manage its activities, THROUGH MARKETING PLAN. —————————————————————————– FIFTH OBJECTIVE -TO provide a stretch points for setting sub-objectives /planning/ strategies for MARKETING DEPARTMENT. *market share target. *competitive standing target. *customer awareness target.. *customer retention target *new products target ———————————————————————

SIXTH OBJECTIVE -to provide a method devised to achieve the objectives in the promotion MIX. ————————————————————————— SEVENTH OBJECTIVE -TO provide a stretch points for setting sub-objectives /planning/ strategies for SALES MANAGEMENT *product coverage. *customer coverage. *geographical area coverage. etc ——————————————————————- EIGHTH OBJECTIVE -TO provide a stretch points for setting sub-objectives /planning/ strategies for DISTRIBUTION MANAGEMENT *distribution penetration target. ———————————————————————— NINTH OBJECTIVE -TO provide a stretch points for setting sub-objectives /planning/ strategies for CUSTOMER SERVICE MANAGEMENT *customer satisfaction level. —————————————————————— TENTH OBJECTIVE -TO provide a stretch points for setting sub-objectives /planning/ strategies for OVERALL CONTROL THROUGH RESEARCH. *consumer research. *customer satisfaction surveys. *internal operation research. *distribution study *marketing research etc etc ============================================== THE MARKETING OBJECTIVES ARE BASED ON THE SCIENTIFIC DATA PROVIDED BY -consumer research data -market research data -market surveys -market analysis -competitors analysis -product analysis -product test analysis -product plans -test market results -market strategy analysis -sales analysis -distribution analysis -media analysis -promotion analysis -customer satisfaction survey -retail audit data -marketing auditing data -market forecast -sales forecast -sales planning data -distribution planning -customer analysis -market segment analysis consumer [ socio/economic /demographic/psychographic] data ETC ETC. ================================================== FROM THE CORPORATE MARKETING OBJECTIVES AND GUIDELINES, WE DEVELOP THE MARKETING PLAN. 1. EXECUTIVE SUMMARY 2. SITUATION ANALYSIS–MARKET ANALYSIS -market needs -market trends -market potential and growth -market characteristics -market segments etc 3. SITUATION ANALYSIS–COMPANY ANALYSIS -strengths -weaknesses 4. BUSINESS ENVIRONMENT -political -economic -social -technology -opportunities -threats -competition -services -keys to success -critical issues -channels 5. MARKETING STRATEGIES marketing objectives -financial objectives -target marketing -positioning -marketing strategy 6. MARKETING MIX -products -pricing -promotion -distribution -channels -marketing research 7. SALES PLANS 8. FINANCE -sales forecast -expense forecast -contribution margin. 9. IMPLEMENTATION PLANS -milestones -time schedule 10. MARKETING / SALES ORGANIZATION 11. CONTROL SYSTEM -time schedule -action plan. 12. CONTINGENCY PLANNING. ======================================= NOW WE CAN SEE THAT, Marketing management is not an artistic exercise and highly subjective, BUT IT IS AN EXERCISE OF scientific analysis of data. -scientifically tested objectives, which are achieveable with a well planned programs. ############################################## 2. How does cause or corporate societal marketing affect consumer’s personal behavior? Clarify in context to the products and services you are using or planning to purchase. The societal marketing concept is an enlightened marketing that holds that a company should make good marketing decisions by considering consumers’ wants, the company’s requirements and society’s long run interests.

It is closely linked with the principles of Corporate Social Responsibility and of Sustainable Development. The concept has an emphasis on social responsibility and suggests that it is not sufficient for a company to only focus on exchange relationship with customers might not be in order to sustain long term success. Marketing strategy rather should deliver value to customers in a way that maintains or improves both the consumer’s and the society’s well-being. Most companies recognize that socially responsible activities improve their image among customers, stockholders, the financial community, and other relevant publics.

Ethical and socially responsible practices are simply good business, resulting not only in favorable image, but ultimately in increased sales. ===================== For example IN SOCIETAL MARKETING. •Proctor ; Gamble Pakistan has introduced the brand of fat free oil to prevent the growing ratio of heart disease. ============================================= •Various automobile manufacturers are focusing more on producing CNG cars that is not only environmental friendly but it is also very economical. So this trend is getting popular very quickly.

One can verify it by observing the increasing number of CNG stations. ========================================================== •There are various companies that are favoring the use of recycled paper to aid more life to trees. ================================================== *McDonald’s Environmentalism Throughout the late 1980s, McDonald’s instituted and publicized a number of environmentally positive steps in its domestic operations. It reduced consumption, for instance, by using lighter weight paper in straws, paper bags and other items and recycled paper and cardboard packaging.

In 1987, it switched from polystyrene (used for the clamshells) blown with CFCs, the family of chemicals which destroy the ozone layer, to plastic foam that used hydrocarbon blowing agents (Annual Report, 1989, pp. 10-15). In 1989, the company instituted a pilot program in 450 New England stores to recycle its plastic clamshells (Livesey, 1993, pp. 12-14). In April, 1990, it committed $100 million, or one quarter of the company’s annual building and remodeling budget, to buy recycled materials for restaurant construction, remodeling, and operations under a program called “McRecycle” (Livesey, 1993, pp. 13-14). ============================================================ *ADIDAS has embarked on a number of projects , all community based. -better pay for local workers in the under-developed countries. -avoiding under-age employees. -support for local community sports. -offer of free sports gears for talents. -sports events sponsorship. -supporting the construction of sports grounds. -cheaper brands for selected countries etc etc. ======================================= *COCA COLA has programs for -local water supply -community developments like sports etc etc etc ===================================== *McDONALDS have programs for local school sports support -scholarships for talents etc etc ============================ While some businesses view corporate social responsibilty (CSR) as an image enhancement tool with no tangible benefits, many organisations are increasingly concerned about managing social issues to benefit stakeholder interests. In todays increasingly competitive and changing marketplace CSR can become a competitive advantage. Specifically, consumers’ perceptions of a firm’s corporate social responsibility have been shown to influence their attitudes toward a company , particularly when committing to a purchase.

CSR is reflected in practice by businesses adopting a societal marketing focus. Societal marketing has been shown to have a positive impact on consumer attitudes and behaviour in various countries . Indeed many companies attribute societal marketing as a major success factor . Societal marketing as a business philosophy can be implemented in many ways including concern for the environment, employee schemes and involvment in specific social causes or cause related marketing. Corporate Social Responsibility and Societal Marketing

While there is no widely accepted definition of corporate social responsibility (CSR), the World Business Council for Sustainable Development (WBCSD) defines CSR as ‘the commitment of business to contribute to sustainable economic development, working with employees, their families, the local community and society at large to improve quality of life’ (WBSCD, 2000). Hence, CSR is the voluntary adoption by companies of responsibilities beyond purely economic or legal responsibilities . The societal marketing concept introduces corporate social responsibility (CSR) into marketing practices.

Societal marketing incorporates a focus on the consumer’s and society’s well-being . Research executed in many countries has consistently shown that consumers express a more positive attitude toward a company that practices societal marketing, and additionally prefer to purchase the products of these companies . Corporate Image Various definitions of corporate image exist. Corporate image is sometimes seen as synonymous with corporate reputation or as different to corporate reputation but interrelated.

Part of the confusion results from the various uses of the term ‘corporate image’ by both practitioners and academics to the extent that corporate image and corporate identity are often used interchangeably and imprecisely . Corporate image is the net result of the interaction of a person’s beliefs, ideas, feelings and impressions about a company and exists in the mind of that person . Corporate image is the totality of a stakeholder’s perceptions of the way an organisation presents itself, either deliberately by controllable sources or accidentally by uncontrollable sources.

Over the last three decades, several models of corporate image formation have been developed by various authors . These models propose various factors effecting corporate image formatiot. The results of these studies provide the foundation for model development. Consumers’ attitudes towards corporate image is influenced by three key factors: corporate marketing communications in general, the specific features of the societal marketing program implemented by the company, and consumer demographics. There are three types of corporate marketing communications: primary, secondary and tertiary.

Primary communication refers to communication directly to or with a consumer or initiated by a consumer including direct interaction with a staff member, attendance at corporate seminars or events and visiting a compnaies website. Secondary communication is identified as a system for visual identification and formal corporate communications, for example through advertising, public relations, graphic design and sales promotion. Typically secondary communication is mass communication. Tertiary communication refers to word-of-mouth and Societal marketing program O Program symbolism O Behaviour O Program communications

Demographic characteristics O Gender O Age O Education level O Income level O Marital status Consumers’ attitude towards corporate image Corporate marketing communications (general) O Primary communications O Secondary communications O Tertiary communications ====================================================== OF COURSE, AS AN USER OF 1. McDONALD FAST FOOD, -I admire their hygiene approach. -their contribution to the community school support program. 2. ADDIDAS -their contribution to the local community sports development. ###################################################### Add to this Answer * Ask a Question Related Articles * Writing a Business Plan – Market Analysis * Product's Ready! Now What? Go-to-Market Strategies for High Tech Entrepreneurs * Internet Marketing Strategy: What Can it Do for You? * Marketing Basics for the Small Business * What is in a Market Plan? Marketing All Answers Answers by Expert: * Glen Franklin * Shane Scherch * Lisa Sims * Russel Ray * Ashraf Nisseem * Jim Gawley * Leo Lingham * Terri Conduff * BigAl * Carlos Scarpero * Kip Gienau * Joe Fournet * Boaz Gal * Amy Lorenti * Marc Lawn * William Siebler * Steve Pywell Sebastien Prince Ask Experts Volunteer Leo Lingham Expertise I can answer questions on marketing, marketing planning, product management, advertising, sales promotions, sales planning, merchandising, direct marketing, and sales management. Experience 18 YEARS WORKING MANAGEMENT EXPERIENCE IN BUSINESS PLANNING, STRATEGIC PLANNING, MARKETING, SALES MANAGEMENT, AND ORGANIZATION DEVELOPMENT. PLUS 24 YEARS OF MANAGEMENT CONSULTING IN STRATEGIC PLANNING, BUSINESS PLANNING, PRODUCT MANAGEMENT, MANAGEMENT TRAINING, AND BUSINESS COACHING. MASTERS IN SCIENCE MASTERS IN BUSINESS ADMINSTRATION. Organizations

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