Samenvatting Management and Marketing (BMO-24306) Concise summary
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Course
Management and marketing (BMO24306)
Institution
Wageningen University (WUR)
Book
Fundamentals of Management, Global Edition
The summary consist of content of all lectures and the two course books: - Robbins, S.P., Coulter, M. & DeCenzo, D.A. (2017) Fundamentals of Management, ISBN 7329
- Philip Kotler and Kevin Lane Keller (2022). Marketing Management. Global edition, ISBN 262
Aantekeningen hoorcolleges management - Introduction to Management and Consumer Studies
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Wageningen University (WUR)
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Management and marketing (BMO24306)
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Sv Management & Marketing
Marketing
Value delivery process
Lecture 1 Introduction to marketing
Marketing concept: Being more competitive than competitors in creating, delivering and
communicating best customer value to your target markets. Fulfil commands.
5 marketing concepts:
- Production concept: producing more, mass distribution
- Technology concept: focus on innovative technology (development of iphone)
- Sales concept: pricing. Ceiling quantity not quality.
, - Marketing concept: places the customer central, making them happy
- Market-value concept: creating value within the market (little of everything)
Internal: hiring, training and motivating employees
Performance: how can you measure performance? social and financial responsibility
Business plan
,Marketing terms:
- Needs: basic human requirement
- Wants: needs directed towards specific objects that might satisfy the need (I want this
particular food)
- Demands: wants for specific products backed by an ability to pay
- Marketing environment:
macro environment = demographic/economic, policital/legal, social/cultural,
technological.
Micro = suppliers, publics, competitors, marketing intermediaries
Tactics; Marketing mix to be successful: product, service, brand, , price, incentives,
communication, distribution
The new market realities can be divided into three main categories:
- The market forces that shape the relationship among the different market entities
- The market outcomes that stem from the interplay of these forces
, - he emergence of holistic makreting as an essential approach to succeeding in the
rapidly evolving market
The marketing environment consists of the task environment and the broad environment
Lecture 2 Marketing information
Planning activities (4)
1. Define the corporate mission. Mission statement, finding your value.
2. Build corporate culture. (key to market success). Shared experiences, stories, beliefs and
norms that characterize an organization.
3. Establish Strategic Business Units (SBUs): single business of related business. Every
SBU is planned separately. Has its own set of competitors. Has a manager responsible for
strategic planning and profitability.
4. Assess growth opportunities.
- Intensive growth: improving existing businesses.
- Integrative growth: vertical/horizontal integration within the industry.
- Diversification growth: outside the present businesses/industries.
Ansoff’s product-market growth matrix.
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