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Summary IBM 1: Marketing management
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Summary for IBM course Marketing Management (IBM 1)
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By: karinemelkonyan • 10 months ago
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MARKETING MANAGEMENT1IBM
Artevelde University of Applied Sciences | 22-23
,Introduction
I. Marketing process
Marketing Marketing Marketing tactics Marketing
analysis strategy Developing implementation
Understanding the Creating customer- integrated marketing & evaluation
market oriented marketing program to create
Planning out,
Understanding own strategy superior customer
executing &
organization value
controlling the
Understanding needs marketing program
+ wants of customers initiatives
1) Marketing analyses:
- Understand market + organization + needs & wants of customers
- Take into account financial & political context of a country
2) Marketing strategy:
- Create customer-oriented marketing strategy
Which value should we offer?
3) Marketing Tactics
- How to offer & bring value to customers?
o Via 4-piece framework
o Via superior customer value
4) Marketing Implementation
- Launch campaigns + evaluate
- Plan – execute – control all marketing initiatives
1
, II. Marketing Process – Why?
Driving Growth
Understanding Marketing Marketing Marketing Marketing
implementation & Get value
Marketing analysis strategy tactics
evaluation from
management Understanding Creating Developing
Planning out, customers to
Understanding the market customer- integrated generate
basic concepts oriented marketing executing &
Understanding controlling the profit +
of marketing own marketing program to customer
management strategy create superior marketing
organization program equity value
Getting
process Understanding customer
Creating value for value
customer
initiatives from
needs + wants
customer
of customers
2
, Part 1: Fundamentals of Marketing
Chapter 1: Defining Marketing for the new realities
The Scope of Marketing
I. Marketing Goal
To understand and satisfy customers’ needs
o This way, the product/service will sell itself as it fits the customer’s needs
To eliminate competition
To make selling superfluous
o Selling is not the most important part of marketing
II. Marketing Management definition
Marketing:
o About identifying and meeting human & social needs via the goals of an
organization
o Formal definition:
Marketing is the activity, set of institutions, and processes for creating,
communicating, delivering, and exchanging offers that have value for
customers, clients, partners, and society at large.
o Main idea of marketing: Why should the customer care?
III. Building a customer-oriented organization
Top
Man
age
men
t
Service managers
Top
Management
Frontline employees
Service managers
Frontline employees
CUSTOMERS
CUSTOMERS
No customers = no business
Customer-oriented business:
o All parts of business are put directly in contact with customers
Traditional organization:
o Customers only communicate with frontline employees
3
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