College aantekeningen
Lecture notes marketing
- Instelling
- Radboud Universiteit Nijmegen (RU)
Lecture notes including screenshots form book/slides
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06-06-2022 11:08 O eN eLec re no es
zaterdag juni :
Lecture : Introduction
Contemporary definitions
AMA :
Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for
customers, clients, partners, and society at large
Kotler Armstrong :
Marketing is the process by which companies engage customers, build stronger customer relationships, and create customer value in order to capture
value from customers in return.
What is value?
How is the concept of value used in practice?
Value of business: Economic worth to owners
Value of customer: Economic worth of a customer to a company
Personal values: Central belief about what is good or bad, right or wrong
Value of a customer: What the buyer perceivers she gains from purchasing and using a product or service
For companies:
Value profit revenues costs
Good profit: Earned from creating value that leads to customer loyalty, repeat purchase, cross up selling.
Bad profit: Earned at the customer s expense overpricing
For consumers:
Value benefits sacrifices
Marketing is complex
• Many consumers with a diversity of needs and wants
• Identify and target consumers whose needs are most consistent with your resources and capabilities
Internal and external situational analysis
Market segmentation, targeting and positioning
p s:
1. Product decisions
What should get exchanged?
• Market research
• Developing and marketing the right good service to the right people
• Packaging, warranties, guarantees and additional services
2. Place distribution
Where and when should the exchange take place?
• Selecting, developing, and managing distribution channels
• Challenges: channel conflict and channel hopping showrooming: people seeing feeling products in a store and then buy it online
3. Pricing decisions
• Setting prices
• Managing price perceptions
• Adapting prices
4. Promotion
• Selecting value proposition, communication means content for the right customer at the right time
• Difference between distribution channel where you can actually buy the product and marketing channel where is the product marketed
5. People decisions
• The reputation of a brand rests in the hands of the employees
6. Process decisions
• Customers are not interested in the details about how your company is run, but they are interested in that the system works
Lecture : The company and the environment
Segment : introduction of the way the lectures are set up
Segment : Company objectives, mission, and vision and the environment
Why do companies have mission and vision statements?
• To help guide the different departments in a company
• Without the mission vision statements how will the company develop its offering to costumers?
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Why is this important? The objectives, the strategy?
• Helps direct the efforts a company takes across its offering and market
• Ansoff s Matric :
Microenvironment
Marco environment
Porter s five forces framework External micro
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Segment : Marketing environment strategy and assessment SWOT PETS BCG
How do managers decide their strategies?
Tools and frameworks to address and view different aspects of the marketing strategy direction
• Bird s eye view internal external
SWOT strengths, weaknesses, opportunities and threats
• Marketing environment external
PEST LE political, economic, social, technological legal, environmental
• Growth Share across offering offering level
BGC matrix
• There are many more out there depending on the objective
BCG matrix
• To give direction to a brand along with products and services a growth matrix can help
• Developed by Bruce D. Henderson from the Boston Consulting Group in
• Products services are placed in a quadrant
• Can be done internal or external
• You need date for this!
Segment : Buying behavior
What makes costumers buy?
• Maslow s Hierarchy of Needs
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