CHANAKAJAYAWARDHENABSP022MARKETINGMANAGEMENTBSP420:MARKETINGMANAGEMENTChanakaJayawardhenaRoom.BE2.19(0150922)8831C.Jayawardhena@lboro.ac.ukSessionstructure•Alecture(uptoanhour)•Followedbyabreak(10-15minutes)•Acasestudy/videopresentationscenariodiscussion/presentationinsmallgroups(uptoanhour)•Aconcludingdiscussion(upto45minutes)CHANAKAJAYAWARDHENABSP022MARKETINGMANAGEMENTWhatismarketing?Toattractandretaincustomersataprofit(Drucker,1999)Toestablish,developandcommercialiselong-termcustomerrelationshipssothattheobjectivesofthepartiesinvolvedaremet(Gronroos,1989)CHANAKAJAYAWARDHENABSP022MARKETINGMANAGEMENTEfficiencyandEffectivenessIneffectiveGoesoutofbusinessquicklyDiesSlowlySurvivesDoeswellThrivesEffectiveEfficientInefficient5CHANAKAJAYAWARDHENABSP022MARKETINGMANAGEMENT2MarketingConceptTheachievementofcorporategoalsthroughmeetingandexceedingcustomerneedsbetterthanthecompetitionTheMarketingConceptCustomerorientationCorporateactivitiesarefocuseduponprovidingcustomersatisfactionIntegratedeffortAllstaffaccepttheresponsibilityforcreatingcustomersatisfactionGoalachievementThebeliefthatcorporategoalscanbeachievedthroughcustomersatisfactionMarketingconceptTheachievementofcorporategoalsthroughmeetingandexceedingcustomerneedsbetterthanthecompetitionCustomerorientationCorporateactivitiesarefocuseduponprovidingcustomersatisfactionIntegratedeffortAllstaffaccepttheresponsibilityforcreatingcustomersatisfactionGoalachievementThebeliefthatcorporategoalscanbeachievedthroughcustomersatisfactionCHANAKAJAYAWARDHENABSP022MARKETINGMANAGEMENT3ProductionOrientationCustomersProductioncapabilitiesManufactureproductAggressivesaleseffortCHANAKAJAYAWARDHENABSP022MARKETINGMANAGEMENT4MarketingOrientationCustomerneedsPotentialmarketopportunitiesMarketingproductsandservicesCustomersCHANAKAJAYAWARDHENABSP022MARKETINGMANAGEMENTMarketingOrientationIntegratedcustomerfocusLongrunprofitsthroughcustomersatisfactionSalesOrientationPush!Push!Sell!Sell!bypromotionShorttermgainsinprofitviasalesincreasesEvolutionoftheMarketingConceptProductionOrientationProduction&assemblylinerefinementProfitsthroughproductioncontrols6CHANAKAJAYAWARDHENABSP022MARKETINGMANAGEMENT7Market-drivenManagementSharedvaluesandbeliefsCustomerfocusMarket-ledstrategyStructureandsystemsImplementationMarketintelligenceSharedvaluesandbeliefscustomerfirstMarketintelligenceSkillsinunderstandingandrespondingtocustomersStructureandsystemsstructurebasedonstrategyteamworkMarket-ledstrategyLinkingdistinctivecompetenciestomarketopportunitiesCompetitiveadvantagethedrivingforceImplementationpeopleincentivescommunicationspersuasionCHANAKAJAYAWARDHENABSP022MARKETINGMANAGEMENT8CreatingCustomerValueProductbenefitsServicebenefitsRelationalbenefitsImagebenefitsMonetarycostsTimecostsEnergycostsPsychologicalcostsCustomervaluePerceivedbenefitsPerceivedsacrificePositiveNegativeCHANAKAJAYAWARDHENABSP022MARKETINGMANAGEMENT9CreatingCustomerSatisfactionDelightNeutralDissatisfactionAbsentFulfilledPresenceofthecharacteristicCustomersatisfaction‘Delighters’‘Moreisbetter’‘Mustbe’CHANAKAJAYAWARDHENABSP022MARKETINGMANAGEMENTBrittanyFerriesBrittanyFerriespromotethebenefitofrelaxation10CHANAKAJAYAWARDHENABSP022MARKETINGMANAGEMENT11AnEffectiveMarketingMixEffectivemarketingmixMatchescustomerneedsCreatesacompetitiveadvantageWellbalancedMatchescorporateresourcesCHANAKAJAYAWARDHENABSP022MARKETINGMANAGEMENT12MarketingMixandCustomerNeedsCustomerneedsKeycustomerrequirementsCompetitiveadvantageMarketingmixCHANAKAJAYAWARDHENABSP022MARKETINGMANAGEMENT13MarketingMixandCustomerNeedsCustomerneedsKeycustomerrequirementsCompetitiveadvantageMarketingmixPsychologicalEconomicCustomerneedsPerformanceAvailabilityReliabilityDurabilityProductivitySelf-imageQuietlifePleasureConvenienceRiskreductionCHANAKAJAYAWARDHENABSP022MARKETINGMANAGEMENT14MarketingMixandCustomerNeedsCustomerneedsKeycustomerrequirementsCompetitiveadvantageMarketingmixProductPricePromotionPlaceMarketingmixCHANAKAJAYAWARDHENABSP022MARKETINGMANAGEMENTEricssonStyleisanimportantchoicecriterionforbrandsthatareconspicuousinuse15