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This is a summary of Marketing/Marketing Management for 1IBM. It includes information from the book, the slides, and my own notes.
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Marketing ManagementChapter 1-20
1IBM 2021-2022
1
, Table of Contents
Chapter 1: Defining marketing for the 21st century ........................................ 3
Chapter 2: Developing marketing plans and strategies .................................. 6
Chapter 3: Collecting information and forecasting demand ........................... 9
Chapter 4: Conducting market research ....................................................... 11
Chapter 5: Creating long-term loyalty relationships ..................................... 13
Chapter 6: Analysing consumer markets ...................................................... 17
Chapter 7: Analysing business markets ........................................................ 20
Chapter 8: Identifying market segments and targets (segmenting + targeting)
.................................................................................................................... 21
Chapter 9: creating brand equity ................................................................. 25
Chapter 10: crafting the brand position ....................................................... 32
Chapter 11: Competitive dynamics ............................................................... 35
Chapter 12: Setting product strategy ........................................................... 38
Chapter 13: designing and managing service ............................................... 41
Chapter 14: developing pricing strategies & programs ................................. 42
Chapter 15: Designing and managing integrated marketing ........................ 44
Chapter 16: managing retailing, wholesaling, and logistics ......................... 49
Chapter 17: Designing and managing integrated marketing communications
.................................................................................................................... 51
Chapter 18: managing mass communications → advertising, sales
promotions, events and experiences, and public relations ........................... 55
Chapter 20: Introducing new marketing offerings ........................................ 59
2
, Chapter 1: Defining marketing for the 21st century
Marketing Management:
The art and science of choosing target markets and getting, keeping, and growing customers
through creating, delivering, and communicating superior value to customers
What? Who?
→ everything → marketers looking for prospects
- Goods (different types of demand)
- Services → the market (supply and demand)
- People → key customer markets
- Events - Consumer markets
- Places - Business markets
- Ideas - Global markets (Ex: smartphone
- … market)
Fear appeals (the marketing that is - Governmental and non-profit
used on cigarette packs) markets
Core marketing concepts:
• Needs, wants, and demands: wants are shaped by society + demands are wants for
specific product backed with ability to pay
• S-T-P (segmenting, targeting, positioning)
• Offerings and brands: the intangible value preposition is made physical by an
offering, a brand is an offering from a known source
• Communication channels: deliver + receive messages from target buyers
(newspaper, radio, billboards…)
• Distribution channels: display, sell or deliver the physical product or services to the
buyer/user
• Supply chain: longer stretching from raw materials to components to finished
products carried to final buyers
• Competition: all the actual and potential rival offerings and substitutes a buyer
might consider
• Marketing environment:
- task environment: actors engaged producing, distributing, promoting in the
offering (company, suppliers, distributors, dealers, target customers)
- broad environment: demographic, economic, social-cultural, natural,
technological, and political-legal environment
3
, New in marketing:
- Digital revolution
- Globalization
- Deregulation: there is less government involved
- Privatisation: public companies → private companies
- More competition
- Industry convergence: industry boundaries are blurring
- Retail transformation
- Disintermediation: breaking through the traditional supply chain
- Consumer buying power: increased due to disintermediation
- Consumer information
- Consumer participation
- Consumer resistance: less loyalty, more price- and quality-sensitive
New company capabilities:
- Using the Internet for:
→ powerful information and sales channel
→ facilitate and speed up internal communication among their employees (as a
company)
→ improve cost efficiency (as a company)
- Collecting fuller and richer information about markets, customers, prospects,
and competitors
- Tapping into social media to amplify their brand message
- Facilitate and speed external communication among customers
- Reaching consumers on the move with mobile marketing
- Companies can make and sell individually differentiated goods
- Companies can improve purchasing, recruiting, training, and internal and
external communications
The holistic approach: everything matters in marketing → necessary to have a broad,
integrated perspective
4
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