Notes of all lectures Marketing, Business Administration
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Course
Marketing (MANBCU2008)
Institution
Radboud Universiteit Nijmegen (RU)
Book
Principles of Marketing
This document entails all notes from the lectures of the course Marketing in the bachelor Business Administration at Radboud University. With these notes, you also have the summary of all the chapters from the book. With this summary I have passed this course!
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Marketing (MAN-BCU2008) summary
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Marketing (MAN-BCU2008) summary...................................................................................................1
College 1: Introduction......................................................................................................................2
College 2: Company and Environment...............................................................................................2
College 3: Customer insights..............................................................................................................5
College 4: Customer value-driven marketing strategy.......................................................................7
College 5: Products, services and brands...........................................................................................9
College 6: Value proposition and pricing.........................................................................................11
College 7: Communication channel strategy....................................................................................13
College 8: Guest lecture...................................................................................................................16
College 9: Customer journey and experience..................................................................................16
1
,College 1: Introduction
Marketing
= activity, set of institutions, and processes for creating, communicating, delivering, and exchanging
offerings that have value for customers, clients, partners and society at large. (AMA)
= process by which companies engage customers, build strong customer relationship, and create
customer value in order to capture value from customers in return (Kotler & Armstrong)
Marketing is complex:
Consumers with diversity of needs and wants
--> identify and target consumers consistent with your resources and capabilities
(internal/external analysis, market segmentation, targeting and positioning)
Value
--> of business = economic worth to owners
--> of a customer = economic worth to company
--> of personal values = central beliefs
--> for a customer = …
For manufacturer:
Value = Profit = Revenues - Costs
Good profit = long-term oriented leading to customer loyalty, repeat purchase, etc.
Bad profit = earned at customers' expense
For customer:
Value = Benefits - Sacrifices
Product decisions:
Market research to understand needs and wants
College 2: Company and Environment
Company objectives, mission and vision
Mission and vision statement help guide different department (development, marketing, culture) in
a company.
Objectives and strategy help direct efforts a company takes across its offerings and markets. They
differ in Ansoff's Matrix (1988):
2
, Microenvironment:
Four levels of competition:
1. Budget / competition industry
2. Generic competition (beverage appliances)
3. Product class / category
4. Product form / type
Porter's 5 forces (external micro):
1. Threat of new entrants
2. Threat of substitute products or services
3. Bargaining power of suppliers
4. Bargaining power of buyers
5. Rivalry among existing competitors
Macroenvironment:
Marketing environment strategy and assessment
Bird's eye view (internal/external)
o SWOT analysis
Strengths, weaknesses = internal
3
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