winning markets contd…. the marketing process two views of the value delivery process: traditional...
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Winning markets contd…
The Marketing Process
Two Views of the Value Delivery Process: Traditional physical process sequence
Make the product . . . Sell the product
Value creation and delivery sequence Choose the value . . . Provide the value .
. . Communicate the value
The Marketing Process
Steps in the Marketing Process: Analyzing market opportunities
Developing marketing strategies
Planning marketing programs
Managing the marketing effort
The Marketing Process
Executive summary and TOC
Current situation Opportunity and
issue analysis Objectives
Marketing strategy
Action programs Financial
projections Controls
Marketing Plan Contents
Managing The Marketing Process
Marketing Departments can be organized by: Function Geographic area Products or brands Customers or markets Corporate divisions Global aspects
Managing The Marketing Process
Building a Companywide Marketing Orientation Requires: Commitment from top management Training programs; employee
empowerment Recognitions and rewards programs Modern marketing planning system Process-outcome focus
Managing The Marketing Process
Injecting more creativity into the organization can be beneficial
Successfully implementing programs requires four sets of skills: Diagnostic skills Identification of company level Implementation skills Evaluation skills
Managing The Marketing Process
Types of Control
Annual plan Profitability Efficiency Strategic
Responsibility of top and middle management
Examines whether planned results are achieved
Managing The Marketing Process
Five tools are used to evaluate annual plan performance: Sales analysis Market-share analysis Marketing expense-to-sales analysis Financial analysis Market-based scorecard analysis
Managing The Marketing Process
Types of Control
Annual plan Profitability Efficiency Strategic
Responsibility of
marketing
controller
Examines where
the company is
making and losing
money
Managing The Marketing Process
Types of Control
Annual plan Profitability Efficiency Strategic
Responsibility of line & staff and / or marketing controller
Evaluates and attempts to improve spending efficiency of marketing expenditures
Managing The Marketing Process
Types of Control
Annual plan Profitability Efficiency Strategic
Responsibility of top management and marketing auditor
Examines whether company is pursuing its best opportunities
Managing The Marketing Process
Strategic controls should be conducted periodically via: Marketing-effectiveness reviews Marketing audits
Additional reviews to consider: Marketing excellence review Ethical and social responsibility review
Supporting Marketing Decisions
A Marketing Information System is defined as . . . “people, equipment, and
procedures that gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers.”
Supporting Marketing Decisions
Marketing Information Systems compile information from: Internal records systems Marketing intelligence systems Marketing research Marketing decision support analysis
Supporting Marketing Decisions
Internal Records Systems Order-to-payment cycle is key
Timely sales reports help to better
manage inventory
Customer, product, salesperson and
other databases can be mined for fresh
insights
Supporting Marketing Decisions
Improving the Quality of Marketing Intelligence System Data Requires: Training and motivating sales force to
report developments Motivating channel members to share
important intelligence Collecting competitive intelligence
Supporting Marketing Decisions
Improving the Quality of Marketing Intelligence System Data Requires: Developing a customer advisory panel Purchasing information from commercial
data sources Establishing a marketing information
center within the company
Supporting Marketing Decisions
The Marketing Research Process: Defining the problem and research
objectives Developing the research plan Collecting the information Analyzing the information Presenting the findings Making the decision
Supporting Marketing Decisions
Developing the Research Plan Involves: Gathering secondary and primary data Selecting one or more research approaches
for primary data collection Using the appropriate research instrument Developing a sampling plan Determining subject contact methods
Supporting Marketing Decisions Approaches for primary data
collection include: Observational research Focus-group research Survey research Behavioral data Experimental research
Supporting Marketing Decisions
A Marketing Decision Support System is defined as a . . . “coordinated collection of data,
systems, tools, and techniques with supporting software and hardware by which an organization gathers and interprets information from business and the environment and turns it into a basis for marketing action.”
Forecasting and Demand Measurement
Essential Aspects
The market Market demand Company demand
and sales forecasts Current demand Future demand
Market Potential market Available market Target market
(served market) Qualified available
market Penetrated market
Forecasting and Demand Measurement
Essential Aspects
The market Measuring
demand Company demand
and sales forecasts Current demand Future demand
Market demand Market minimum Market forecast Market potential Nonexpansible vs.
expansible markets
Primary vs. secondary demand
Market forecast Market potential
Forecasting and Demand Measurement
Essential Aspects
The market Measuring demand Company
demand and sales forecasts
Current demand Future demand
Company demand Company sales
forecast Sales quota Sales budget Company sales
potential
Forecasting and Demand Measurement
Essential Aspects
The market Measuring demand Company demand
and sales forecasts Current demand Future demand
Total market potential
Area market potential Market-buildup
method
Forecasting and Demand Measurement
Essential Aspects
The market Measuring demand Company demand
and sales forecasts Current demand Future demand
Many Forecasting Methods: Buyer intentions
survey Composite of sales
force opinions Expert opinion Past-sales analysis Market-test method
Macroenvironmental Trends and Forces
Demographic Environment Worldwide population growth Population age mix Ethnic markets Educational groups Household patterns Geographic population shifts Rise of micromarkets
Macroenvironmental Trends and Forces
Economic Environment
Income distribution
Savings, debt, and credit availability
Macroenvironmental Trends and Forces
Natural Environment Shortage of raw materials
Increased energy costs
Anti-pollution pressures
Changing role of governments
Macroenvironmental Trends and Forces
Technological Environment Accelerating pace of technological
change
Unlimited opportunities for innovation
Varying R&D budgets
Increased regulation of technological
change
Macroenvironmental Trends and Forces
Political-Legal Environment
Legislation regulating business
Growth of special interest groups
Macroenvironmental Trends and Forces
Socio-Cultural Environment
World views that consumers hold of
themselves, others, society,
organizations, nature, and the universe
High persistence of core values
Existence of subcultures
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