Marketing Concepts -Summary 2

MARKETING MOTIVES
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S T P Product offering
Needs wants demand value & satisfaction
Exchange / transaction (process)
Relationships & stakeholder network

Marketing channels
· Communication ATL/BTL
· Dialogue email/Toll free
· Monologue ads
· Distribution trade
· Selling all outlets

Supply chain is a value delivery system

Competition
· Brand Competes for demand
· Industry Competes for want
· Form competing for the need
· Generic competes for the same money.

Environment
· Task – involves all stakeholders - producing / distributing / promoting
· Broad – demographic
Economic
Natural
Technological
political/legal
Socio cultural

MARKETING MIX ( 4 P --- > 4 C )
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PRICE PRODUCT PLACE PROMOTION

Results in

Customer cost customer soln convenience communication




MARKETING
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Production concept high prdt efficiency/low cost/mass distribution.Useful for new prdt / developing countries /penetration
Product concept Superior prdt (without focus on needs / wants )
Selling concept consumers suffer from inertia /aggressive sales pitch / promotion by orgnz ( insurance / encyclopedia )
Marketing concept Be more effective thru S T P

STP satisfies needs thru integrated marketing reaping profits from customer satisfaction.

SATISFACTION = fn ( perceived performance & expectations )

DELIGHT YOUR CONSUMERS

Customer delivered value = total customer value - total customer cost
Prdt value monetary cost
Services / personnel /image time/energy/psychic cost

Arthur D Little’s model of characteristics of high performance business


PROCESSES (improve critical business processes )

STAHEHOLDERS strategies to satisfy key stakeholders




organization
Resourcesallign
resources &
orgazn