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College aantekeningen Marketing Management
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Summary of Principles and Practice of Marketing, Ninth Edition
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Summary of the lecture slides and book of Marketing
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Summary Marketing Management classes
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Marketing ManagementFreya De Keyzer, Ph.D. E-mail: Freya.DeKeyzer@uantwerpen.be, Cristian Buzeta, Ph.D. E-mail: Cristian.Buzeta@uantwerpen.be
Carmem Meira Cunha (administration & follow-up group work). E-mail: Carmem.MeirhaCunha@uantwerpen.be
Table of contents
Marketing Management .................................................................................................................................... 1
Part 1: Fundamentals of marketing .................................................................................................................. 2
Chapter 1: Marketing & the organization........................................................................................................... 2
Chapter 2: The Marketing Environment ............................................................................................................. 7
Chapter 3: Consumer Behavior ......................................................................................................................... 11
Chapter 6: Marketing Analytics & research ...................................................................................................... 23
Chapter 7: Market Segmentation & positioning ............................................................................................... 37
Part 2: Creating customer value ..................................................................................................................... 46
Chapter 8: Value through brands...................................................................................................................... 46
Chapter 9: Value through service...................................................................................................................... 56
Chapter 12: Value through pricing .................................................................................................................... 60
Part 3: Communicating & delivering customer value ...................................................................................... 74
Chapter 13: Integrated marketing communications......................................................................................... 74
Chapter 14: Mass Marketing Communications ................................................................................................ 84
Chapter 15: Direct Marketing Communications ............................................................................................... 91
Chapter 16: Digital Marketing & Media ........................................................................................................... 94
Chapter 17: Distribution & Channel Management ........................................................................................... 97
Part 4: Marketing planning and strategy ...................................................................................................... 107
Chapter 18: Marketing planning ..................................................................................................................... 107
Chapter 19: Analyzing competitors ................................................................................................................. 117
Chapter 20: Product strategy: lifecycle, portfolio & growth ........................................................................... 124
Chapter 22: Managing Marketing implementation, organization & control ................................................. 128
Guest lecture Thorsten Strauss - Introduction to growth hacking ................................................................. 136
Guest lecture – ALPRO (Marketing Management) ........................................................................................ 151
, Part 1: Fundamentals of marketing
Chapter 1: Marketing & the organization
Not to Study:
- Section ‘Marketing performance’
- Section ‘Does Marketing have all the Answers?’
- Marketing in action (good examples)
- Mini-case
- End of chapter cases
Chapter questions: Chapter 1
- What is marketing?
- What is marketing management?
- Why is marketing important?
- What is the scope of marketing?
- What are some of the fundamental marketing concepts?
- How has marketing management changed?
- What are the tasks necessary for successful marketing management?
1 Quotes: defining marketing
Marketing is the process by which companies create value for customers and build strong customer
relationships in order to capture value from customers in return.
- (Kotler & Armstrong, 2010)
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.
- (American Marketing Association, 2017)
1.1 Defining marketing
Value
- For customers needs and wants
- For organizations: profit (financial, societal, environmental, ...)
Customer
- Customer satisfaction is central for success
Relationship
- Long-term goals vs. short-term goals
- Acquisition vs. retention
Process
- Stream of exchanges
Marketing is central for business success
,1.1.1 The marketing concept
2 Marketing is not …
Some businesses do not practice marketing (i.e., the customer satisfaction ideal) at all.
- They (intentionally) engage in cheating, swindling, deceiving, or cynically manipulating
customers in some way.
- Naturally, this produces dissatisfaction.
This orientation be considered (bad examples of) commerce, exchange, selling, or “business”—as well as
cheating, swindling, and so on—but it is not marketing.
Real marketing has nothing to do with “bad business practices”
3 Market or product orientation?
3.1 Market orientation
Potential Marketing
Customer
market products & Customers
needs
opportunities services
3.2 Product orientation
Potential Marketing
Customer
market products & Customers
needs
opportunities services
The customers’ satisfaction = KEY in marketing
, o Therefore, we need to know their needs
o Keep in mind that production marketing orientation is not a good marketing strategy
(The customer needs to be central = marketing orientation).
▪ E.g.: NMBS and SONY
3.2.1 Understanding Market-Driven Businesses
3.3 Efficiency effectiveness
- Efficient: input must be higher than output
o Efficient tools, best ways to reach your
clients etc.
- Effective: doing the right things
3.4 Understanding the marketplace & consumer needs
Five core customer and marketplace concepts
1. Needs, wants, and demands
2. Market offerings
3. Value, satisfaction, and quality
4. Exchanges, transactions, and relationships
5. Markets and the marketing system
4 Needs, wants & demands
Need = perceived deprivation
Wants = needs shaped by culture and personality
- Demand = want + £
e.g. a food producer
- Food = a basic need, but we also want safe food, we want to share the food with family etc.
- You need to follow this pyramid
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