1 introduction marketing concepts
- 1. Introduction of Product Management email: ph_eyad@yahoo.com
- 2. Marketing Definition of Marketing : Marketing (1) is the process by which companies create value for customers and build strong customer relationships to capture value from customers in return. Marketing(2) is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways the benefit the organization and its stakeholders.
- 3. Marketing management Marketing management is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value
- 4. Importance of Marketing: the heart of business to success depend on successful marketing because it is covers advertising ,public relations, promotion to potential customer to knew the products or services the company by marketing mix (product ,price ,distribution and promotion)..(Add the concept of Marketing and marketing management tasks)
- 5. Marketed is :(the scope of marketing) Goods Places Services Properties Events Organizations Experience Information Persons Ideas
- 6. Concept of market: Traditionally, a “market” was a physical place where buyers and sellers gathered to buy and sell goods. Economists describe a market: as a collection of buyers and sellers who transact over a particular product or product class (such as the housing market or the grain market). Market place is physical such as a store you shop. The market space is digital, as when you shop on the internet. Meta markets are the result of marketers packaging a system that simplifies carrying out these related product/ service activities.
- 7. Core Concepts in Marketing : Needs, wants, and demands Target markets, positioning, segmentation Offerings and brands Value and satisfaction Marketing channels (communication, Distribution and services) Supply chain Competition Marketing environment Marketing planning
- 8. A Simple Marketing System is :
- 9. Structure of Flows in Modern Exchange Economy :
- 11. Marketing Management Tasks: Develop market strategies and plans Capture marketing insights Connect with customers Build strong brands Shape market offerings Deliver value Communicate value Create long-term growth
- 12. Market Segmentation, Targeting & Positioning
- 13. Market Segmentation Marketing Segmentation: The process of dividing a total market into groups with relatively similar product needs in order to design a marketing mix that matches those needs. Market Segment: Individuals, groups or organizations with one or more similar characteristics that cause them to have similar product needs.
- 15. 1-Demographic variables: -Age - Occupation - Gender - Family Life Cycle - Family size - Race - Ethnicity - Religion - Income - - Social class - Education
- 16. Market Segmentation 2-Geographic variables: -Region -Country size -Urban, Suburban, Rural -Market density -City size -Climate 3-Psychographic variables: - Personality attributes - Motive - Lifestyles
- 17. Market Segmentation 4-Behavioristic variables: Volume usage End use Benefit expectations Brand Loyalty Price sensitivity
- 18. Market Segmentation Our aim is to: Get the RIGHT product To the RIGHT Physician With the RIGHT price In the RIGHT quality AT the RIGHT time With the RIGHT message
- 19. Market Segmentation This will lead to: 1. Better effectiveness 2. Better penetration 3. Reduced costs
- 20. Market Segmentation For effective segmentation of the market must be: 1. Measurable 2. Substantial 3. Accessible 4. Differentiable 5. Actionable
- 21. Micromarketing An approach to market segmentation in which organizations focus precise marketing efforts on very small geographic markets such as community markets.
- 23. Targeting Once the company has identified the segments in the market, has to decide which segment’s to target. Undifferentiating targeting strategies: Designing a single marketing mix for, and directing it at the total market
- 24. Marketing Targeting Strategies Concentrated targeting strategy an organization targets two or more segments by developing a marketing mix for each. Differentiated targeting strategy A strategy in which an organization targets two or more segments by developing a marketing mix for each.
- 25. Targeting Effective Targeting: to be an effective target, a market segment should be: 1. Identifiable 2. Sufficient 3. Stable or growing 4. Accessible (Reachable)
- 26. Positioning Positioning is the process of determining the exact needs in the customer’s mind, and to which extent they are fulfilled, and then position the product in the customer’s mind in a different way than the competitors.
- 27. Positioning Product positioning strategy refers to placing a brand in that part of the market where it will have a favorable reception compared to competing products. Since the market is heterogeneous, one brand cannot make an impact on the entire market.
- 28. Positioning Approaches to positioning strategy take many forms. Among these are: 1. Attribute positioning 2. Price/Quality positioning 3. Use/Application positioning 4. User positioning 5. Product Class positioning 6. Competition position
- 29. Re-Positioning Product repositioning strategy: Sometimes a product may ned repositioning if: Competitive entry affecting the product market share Preferences have changed New opportunities A mistake has been made in the original positioning