Marketing Management Exam Notes
MARKETING MANAGEMENT
UNIT 1 – INTRO TO MARKETING – A STRATEGIC PERSPECTIVE 1. What is marketing? 2. Why is marketing important? 3. Key Concepts of marketing * Needs * Wants * Demands * Products * Exchange * Transactions * Market 4. The evolution of marketing * Production orientation * Product Orientation * Selling orientation * Market Orientation * Societal Orientation 5. Adopting a marketing orientation – customer focus, market research, customer satisfaction * Response to: decline in sales, changing customer wants, react to emerging competition 6. Goals of marketing – max consumption, max consumer satisfaction, max choice, max life quality 7. Role of marketing in corporate strategy – create, capture and sustain value for existing and new customers 8. Marketing Process: Analysis (5C’s) identify opportunities -> Design Marketing (STP) Create Value -> Design tactics (4/7 Ps) Capture Value -> Customer acquisition & retention (sustain value) -> Financial value for firm 9. The 5 C’s: Company(SWOT), Competitors (Porters 5 forces), Collaborators, Context (PESTLE), Customers 10. STP: Who, which groups to target, positioning offering in minds of customers and against competitors 11. Marketing Mix/Tactics: Product, Price, Place, IMC/Promo, People, Physical Evidence, Process 12. Goal/outcome to acquire new customers, retain existing customers and delivering long term customer satisfaction promoting loyalty. Requires implementation and control measures UNIT 2 – PRODUCTS – GOODS, SERVICES, BRANDS 1. Product Definition – goods or service offering to satisfy needs and wants. A value exchange
Includes goods, services, experiences, events, persons, places, properties, organisation, info, ideas 2. Types of Product Categorisations a. Durability/Tangibility: Durable (e,g whitegoods), Services (activities, benefits,
UNIT 1 – INTRO TO MARKETING – A STRATEGIC PERSPECTIVE 1. What is marketing? 2. Why is marketing important? 3. Key Concepts of marketing * Needs * Wants * Demands * Products * Exchange * Transactions * Market 4. The evolution of marketing * Production orientation * Product Orientation * Selling orientation * Market Orientation * Societal Orientation 5. Adopting a marketing orientation – customer focus, market research, customer satisfaction * Response to: decline in sales, changing customer wants, react to emerging competition 6. Goals of marketing – max consumption, max consumer satisfaction, max choice, max life quality 7. Role of marketing in corporate strategy – create, capture and sustain value for existing and new customers 8. Marketing Process: Analysis (5C’s) identify opportunities -> Design Marketing (STP) Create Value -> Design tactics (4/7 Ps) Capture Value -> Customer acquisition & retention (sustain value) -> Financial value for firm 9. The 5 C’s: Company(SWOT), Competitors (Porters 5 forces), Collaborators, Context (PESTLE), Customers 10. STP: Who, which groups to target, positioning offering in minds of customers and against competitors 11. Marketing Mix/Tactics: Product, Price, Place, IMC/Promo, People, Physical Evidence, Process 12. Goal/outcome to acquire new customers, retain existing customers and delivering long term customer satisfaction promoting loyalty. Requires implementation and control measures UNIT 2 – PRODUCTS – GOODS, SERVICES, BRANDS 1. Product Definition – goods or service offering to satisfy needs and wants. A value exchange
Includes goods, services, experiences, events, persons, places, properties, organisation, info, ideas 2. Types of Product Categorisations a. Durability/Tangibility: Durable (e,g whitegoods), Services (activities, benefits,