MARKETING MANAGEMENT
TRADITIONAL MARKETING IN THE 21ST CENTURY
Traditional Marketing is not dead. Large scale organizations are still highly
depended on television and Print advertising to attract customer. The Marketers of large-scale
organizations integrate traditional and digital marketing strategies to create a suitable brand
image for their products. Meanwhile, small scale organizations with a lower marketing budget
leverage digital marketing tools to bring more clients on board.
Marketing in the 21st century is a mix of both traditional and digital marketing. Depending
on the type of products marketing budget size of the target market and spending habits of
potential customer, organizations alter their marketing strategies accordingly.
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MARKETS MUST DECIDE WHAT FEATURES TO DESIGN INTO A NEW PRODUCT OR
SERVICE, WHAT PRICE TO SET, WHERE TO SELL PRODUCTS OR OFFER SERVICES AND
HOW MUCH TO SPEND ON ADVERTISING SALES, THE INTERNET, OR MOBILE MARKETING.
THEY MUST MAKE THOSE DECISIONS IN AN INTERNET-FUELED ENVIRONMET WHERE
CONSUMERS, COMPETITION, TECHNOLOGY, AND ECONOMIC FORCES CHANGE RAPIDLY,
AND THE CONSEQUENCES OF THE MARKETERS WORDS AND ACTIONS CAN QUICKLY
MULTIPLY.
THE SCOPE OF MARKETING
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You need to understand what marketing is, How it works, Who does it, and What is
Marketed
MARKETING
Marketing is about identifying and meeting human and social needs. One of the shortest
good definitions of marketing is “Meetings needs profitability’’
Marketing is the activity, set of institutions and processes for creating, communicating,
delivering and exchanging offerings that have value for customers, clients, partners and
society at large.
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Marketing Management as the art and science of choosing target markets and getting,
keeping, and growing customers through creating, delivering and communicating
superior customer value
POLITICAL MARKETING
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Is the process by which political candidates promote themselves and their platforms to
voters through masterly- crafted communications aimed at gaining public support.
Is use to raise awareness and inform members of the public about critical issues and
leadership choices within their community and country.
MARKETING IS IDENTIFYING AND MEETING HUMAN AND SOCIAL NEEDS.
MARKETERS MARKET 10 MAIN TYPES OF ENTITIES:
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GOODS
SERVICES
EVENTS
EXPERIENCES
PERSONS
PLACES
PROPERTIES
ORGANIZATION
INFORMATION
IDEAS
MARKETING is the process of continuously and profitability satisfying target customer’s needs
wants and expectations
THE STRATEGIC 3Cs of MARKETING
 COMPANY- (To satisfy the needs, wants, and expectations of target)
customers must primarily know the problems of the customers, then provide a
solution while being profitability superior to their competition.
 CUSTOMERS- (To outperform competition) which may either be trade
intermediaries or end-users, are people or organization buying from you.
 COMPETITORS- (To ensure corporate health and profit) those with
products or services that can offer similar benefits to your customer.
The output of Customers, Competition, and Company is collectively called KEY RESULT AREAS
(KRAs)
These outputs are SALES, MARKET SHARE and PROFIT
 CUSTOMER- SALES are the result of satisfying the customer’s needs and
wants.
 COMPETITION– MARKET SHARE is the portion of a market controlled by a
particular company or product.
 COMPANY- PROFIT comes from having an excess of sales over cost and
expenses in gaining market share.
KEY RESULT AREAS (KRAs)
SALES VOLUME can be increased through what is known as the 4Us of growing your volume.
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New USERS- who uses the product or services
Extend USERS-who can still use product or service
New USAGE- for what purpose is the product or service used.
More USAGE- when and in what occasion is the product or service used
MARKET SHARE
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Bearbrand is market leader in milk
Malayan insurance is market leader in non-life insurance
Motor trade is market leader in motor cycle retailer
PROFIT is an indispensable component for a firm to continuously satisfy its customer
MARKETING PHILOSOPHY
The marketing philosophy of “being better than before, better than others and better than
expected”
“BETTER THAN BEFORE” must be the norm of company in evaluating sales, the industry’s
growth rate.
“BETTER THAN OTHERS “must be demanded by the company in improving market share
performance which reflects how they fare against competition and substitutes.
“BETTER THAN EXPECTED” must be practiced in evaluating profit performance,
especially when a corporate budget is prepared.
STANDARD FOR JUDGING MARKETING EFFECTIVENESS
BETTER THAN BEFORE
SALES
CUSTOMERS
COMPANY
PFOFIT
BETTER THAN EXPECTED
COMPETION
MARKET SHARE
BETTER THAN OTHERS
GOALS OF MARKETING
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STEP 1 AWARENESS- MARKET YOUR TARGET MARKET KNOW YOU, INFORM THEM,
PERSUADE THEM AND REMIND THEM YOUR BRAND CAN BE AMONG TOP.
STEP 2 AVAILABILITY- MAKE PRODUCTS AVAILABLE ACCORDING TO THE PURCHASE
PATTER OF THE TARGET CUSTOMERS. ATTENTION SHOULD BE GIVERN TO COVERAGE,
PLACEMENT, DISPLAY, INVENTORIES, RESALE PRICES AND GOODWILL WITH CUSTOMERS
STEP 3 REPEAT PURCHASES- FORM AN ONGOING RELEVANT RELATIONSHIP BY
CONTINOUSLY SATISFYING NEEDS AND WANTS OF TARGET CONSUMERS TO BE THE
PREFFERED BRAND.
STEP 4 TRIAL – PROVIDE A LOW RISK INITIAL EXPERIENCE TO ALLOW TARGET
CUSTOMERS TO FORM POSITIVE IMPRESSION. THIS IS TYPICALLY DONE VIA SAMPLING,
INTRODUCTORY, PROCE, MONEY BACK GUARANTEE, AMONG OTHERS