This document contain the summary of 8 chapter of the book, and part of finance and research. In addition, notes from lectures are integrated, and there are some trial questions.
Valentina Scalabrin- International Business. Module 2
,Chapter 1......................................................................................................... 6
What is Marketing? When it comes to defining marketing, many people
think that it is just about selling and advertising, as we are bombarded
every day with commercials on our social media, tv, mailbox and many
others. however, selling and advertising are only the tip of the marketing
iceberg. Today marketing has to be understood more in the sense of
“selling and telling”- in the sense of satisfying consumer needs. in fact, as
Peter Drucker, the main aim of marketing is to “make selling
unnecessary”. If the marketer understands customers' needs, develops
products that provide them well, these products will sell easily. After
saying that, marketing can be defined as the process by which companies
engage customers, build strong customer relationships, and create value
to capture value from customers in return. .................................................6
Managing Customer Relationships and Capturing Customer Value...........8
Changing Nature of Customer Relationships.............................................10
Partner Relationship Management.............................................................10
Capturing Value from Customer.................................................................10
Growing share of customer The share a company gets of the customer’s
purchasing of the offered products can be increased with good CRM and
by offering a variety of products.............................................................10
Building Customer Equity This is the goal of CRM; customer equity is
the combined customer lifetime values of potential and current
customers creating a measure for the future customer base.................10
Building The Right Relationships with The Right Customers....................11
The Changing Marketing Landscape..........................................................11
Questions Lectures..................................................................................... 13
Chapter 2: Company & Marketing Strategy..................................................13
Company-wide strategic planning: defining marketing’s role....................13
Defending a market-oriented mission........................................................14
Setting company objectives and goals The company needs to turn its broad
mission into detailed supporting objectives for each level of management.
Each manager should have objectives and be responsible for reaching
them. Profits can be improved by increasing sales or by reducing costs.
Sales can be increased by improving customer engagement and raising the
company’s share of the market..................................................................14
Design the business portfolio Guided by the company’s mission statements
and objectives, management now must plan its business portfolio- the
collection of businesses and products that make up the company. The best
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,business portfolio is the one which best fits the company’s strengths and
weaknesses and opportunities in the environment....................................14
Analysing the current business portfolio The major activity in strategic
planning is business portfolio analysis, though by management evaluates
the products and business that make up the company. The first step of
management is to identify the key business that constitute the company,
called strategic business units (SBUs). A SBU can be:..............................14
Developing strategies for growth and downsizing.....................................16
Planning marketing: partnering to build customer relationships..............16
Marketing strategy and the marketing mix................................................17
Customer value-driven marketing strategy................................................17
Developing and integrated marketing mix.................................................18
Managing the marketing effort and marketing return on investment.......19
Chapter 14- Communicating Customer Value............................................21
The Promotion Mix..................................................................................... 22
Integrated Marketing Communication.......................................................23
Developing Effective Marketing Communication.......................................23
Steps In Developing Effective Marketing Communication.........................24
Identify the Target Audience...................................................................24
Aida Model............................................................................................... 26
Setting The Total Promotion Budget and Mix............................................27
Shaping the Overall Promotion Mix The concept of integrating
marketing communications suggests that the company must blend the
promotion tools carefully into a coordinated promotion mix. Each
promotion tools have unique characteristics and costs. Marketers must
understand these characteristics in shaping the promotion mix............27
Promotion Marketing Mix Marketers can choose from two basic
promotion mix strategies: push or pull strategy. A push strategy calls for
using the sales force and trade promotion to push a product through
channels. A producer promotes a particular product to channel
members, who in turn promote it to final consumers. (Ex. Ikea- if you
enter to Ikea you have to follow a “path” and this push you to buy new
products) A pull strategy calls for spending a lot on consumer
advertising and promotion to induce final consumers to buy a particular
product, creating a demand vacuum that pulls a product through the...28
channel. (Ex. Heineken- have a great branding and this pull consumers
to buy your products)..............................................................................28
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, Integrating the Promotion Mix................................................................28
Socially Responsible Marketing Communication....................................29
CHAPTER 3: ANALYZING THE MARKETING ENVIROMENT......................29
Microenvironment Marketing success requires building relationships, with
other company departments, suppliers, marketing intermediaries,
competitors, various publics, and customers, which combine to make up
the company’s value delivery network.......................................................30
The Macro Environment.............................................................................32
CHAPTER 7- CUSTOMER VALUE-DRIVEN MARKETING STRATEGY..........36
Marketing Strategy.................................................................................... 36
Market Segmentation.............................................................................. 36
Segmenting Business Markets................................................................38
Segmenting International Markets.........................................................38
Requirements for Effective Segmentation.............................................39
Market Targeting........................................................................................ 39
Evaluating Market Segments..................................................................39
Selecting Target Market Segments Target market is a set of buyers
sharing common needs or characteristic that the company decides to
serve. Target marketing can be carried out on the following levels:......39
Choosing a Targeting Strategy................................................................40
Differentiation And Positioning..................................................................40
Choosing a Differentiation and Positioning Strategies...........................41
Communicating And Delivering the Chosen Position.................................43
Chapter 17: Direct, Online, social media, and Mobile Marketing.................43
Direct And Digital Marketing.....................................................................43
The New Direct Marketing Model...........................................................43
Rapid Growth of Direct Marketing and Digital Marketing......................43
Benefits of Direct and Digital Marketing to Buyers and Sellers.............44
Forms Of Direct and Digital Marketing......................................................44
Marketing In the Digital Age......................................................................44
Online Marketing.................................................................................... 45
Social Media and Mobile Marketing...........................................................46
Mobile Marketing....................................................................................... 47
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