Marketing Management

 Chapter 5

What is Marketing Planning?

Process of anticipating the future and determining courses of action necessary to achieve marketing objectives.

What is Relationship Marketing?

Organization’s attempt to develop long-term, cost effective links with individual customers for mutual benefit.

Ex:  Loyal General Motors purchaser will spend about $400000 on auto purchases and servicing during his or her lifetime.

Pareto 80:20 Rule:

This rule discovered by Vilfredo Pareto, and it applied on several areas.

Ex: Hewlett Packard is spending %80 cost for printers but they make %20 profit. They spend %20 cost for Ink Cartridges but they make %80 profit.

Marketing Planning Process:

Strategic Planning versus Tactical Planning:

SWOT Analysis:

Planning at Different Org. Levels:

Tools Used in Marketing Planning:

Strategic Business Unit:

Related group of products or businesses within a multiproduct firm with its own managers, resources, objectives and competitors; structured for optimal planning.

Market Share / Market Growth Matrix: Matrix that classifies a firm’s SBUs in terms of their market shares and growth potential.

Market Attractiveness / Business Strength Matrix:

Chapter 6

Marketing Research:

Collecting and use of information for marketing decision making. We spend effort most often determining market potential, market share and market characteristics. Markets conduct research to analyze sales and competitors products and their activities.

The Marketing Research Process:

• Defining the Problem / Opportunity:

We don’t need to do marketing research only for problems. It can do for new opportunities.

• Conducting Exploratory Research:

Internal Data: inside the company

External Data: inflation, economic, political.

These are secondary data.

• Formulating a Hypothesis:

A hypothesis is a statement about the relationship among variables that carries clear implications for testing this relationship.

• Creating a Research Design:

Series of decisions that, taken together, comprise a master plan for conducting marketing research.

• Collecting Data:

  1. Primary Data: Data collected for the first time

a)       Observation Method: Gözlem yöntemiyle elde edinilen bilgiler.

b)       Survey Method: Questionnaire, interview, e-mail, focus group.

c)       Experimental Method: Researcher controls and manipulates a test group or groups and compares its results.

2. Secondary Data: Everything which is internal or external data. Everybody can get that data.

a)       Government Data: Collected data from governmental offices.

b)       Private Data: Collect inside the company.

• Interpreting & Presenting the Research Information:

Participating in the Marketing Research Function:

• Syndicated Services: Secondary Data. Interested for everyone. You can go to company and you can learn information about sales.

• Full Services Suppliers: A/C Nielsen is the Marketing Research Company which makes marketing research professionally for other companies.

• Limited Service Suppliers: They are giving you part of the services of Marketing Research. If you want to do questionnaire, research company can do that for you.

Chapter 1-2-3     Chapter 9-10