MARKETING MANAGEMENT

Strategy – fundamental pattern of present and

LESSON 1: planned objective, resource deployments, &
External Environment interactions of an organization with markets,
competitors, and other environmental factors.
SPECTACLES – Social, Political,
Economic, Customers, Technological, Components of Strategy:
Aesthetic, Cultural, Legal, Environment 1. Scope – size and scope of its
and Sectoral factors. strategic domain
2. Objectives
Social 3. Resource deployments
Political 4. Identification of a sustainable
competitive advantage
Economic 5. Synergy
Customers
Ethics – establishment of moral standards on
Technological
which acts and situations may be judged. It
Aesthetic focuses on acts that may cause actual or
potential harm to a person, community, or
Cultural organization (economic, mental, or physical).
Legal
Environment LESSON 3:
Forecasting
Sectoral factors
It’s the Science and art of foreseeing the
future.
LESSON 2: An important area of co-operation
Market-Oriented – firms incorporate more between those involved with the
consumer and competitor knowledge into their management of the marketing function
decision-making processes, according to and those responsible for sales occurs in
business philosophy. the area of forecasting.
Marketing Concept – holds that the design and
coordination of all company activities round the LESSON 4:
primary goal of satisfying customer needs Product management – company's org
lifecycle function that deals with the preparation,
forecasting, and promotion.
Guidelines For Market-Oriented
Management: (Fill in the Blank)
Product Life Cycle
1. Create customer focus throughout the
1. Introduction Stage
business.
2. Hear the customer. 2. Growth Stage
3. Define and nurture your distinctive
3. Maturity Stage
competence.
4. Define marketing as market intelligence. 4. Decline Stage
5. Target customers precisely.
LESSON 5:
6. Manage for profitability, not sales volume. Marketing research – systematic design,
7. Make customer value the guiding star. collection, review, and reporting of data and
8. Let the customer define quality. findings related to a particular marketing
9. Measure and manage customer situation that a company is facing.
expectations.
10. Build customer relationships and loyalty.
11. Define the business as service business. Marketing Research Process:
12. Plan to continuous improvement and D – defining the problem and research
innovation. objective
13. Manage culture alongside strategy and I – identify the problem
structure. C – collecting the data
14. Grow with partners and alliances. A – analyze the data
15. Destroy marketing bureaucracy. R – reporting and interpreting the
findings
General Types of Marketing Research Factors Affecting Consumer Behavior:
Objective: 1. Culture Factor
1 Exploratory analysis – gathers knowledge 2. Social Factors
that will aid in the definition of the issue and 3. Personal Factors
the formulation of hypotheses. 4. Psychological Factors
2 Descriptive research – explain market
demand, demographics, and consumer
perceptions for a product. Consumer decision process model
3 Casual research – Determine whether or 1. Need recognition
not a theory regarding cause and effect 2. Search for Information
relationships is true. 3. Pre-purchase Evaluation of Alternatives
4. Purchase
5. Consumption
Two types of gathering data: 6. Post Consumption Evaluation
1 Primary research – looks for data that
doesn't exist and information from surveys
Stages of the Adoption Process
that isn't available elsewhere.
1. Awareness
2 Secondary research – data and context
2. Interest
material that already exists (secondary
3. Evaluation
sources: books, the internet, government
4. Trial
databases, libraries, magazines, and
5. Adoption
newspapers).

Marketing Research Methods: LESSON 7:

Observational Research – observing relevant Pricing Strategy
people, actions and situations. 1. Skimming Price – strategy a
company initially sets a high price for the
product and at the same time promotes
Survey research – gathering of primary data
it heavily via advertising and sales
by asking people questions on their knowledge,
promotion. Eventually the firm lowers the
attitude, preferences, and buying behavior
price to capture a larger share of market.
(mail or telephone survey).
2. Penetration Pricing – company
Experimental research – using groups of prices its products low in order to
individuals to work out cause and effect penetrate its target as quickly as
relationship (casual). possible and thereby gain market
control.
Sample – part of statistical practice concerned
with the selection of a subset of individuals from Basic Activities of a Salesman:
within a segment of the population to yield some 1. Prospecting
knowledge about the whole population. 2. Making a Sales Presentation
3. Servicing
4. Gathering Competitive Information
Form of questions: 5. Allocation of Products in Times of
a. Close end questions Scarcity
b. Open ended questions

Consumer Survey – provides information that Yellow – Identification 20 items

could guide management in redirecting sales
effort toward the right regional markets. Blue – Enumeration 48 items

Green – Fill in the Blank 15 items

Market Survey – could open up opportunities
for modifying certain features of a product.

LESSON 6:
Consumer Behavior – Individuals, groups, or
organizations are studied, as well as the
mechanisms they use to choose, protect, use,
and dispose of products, services, experiences,
or ideas to meet needs, as well as the impact
these processes have on customers and
society.