Notes of all lectures Marketing, Business Administration

Marketing (MAN-BCU2008) summary

Inhoud
Marketing (MAN-BCU2008) summary...................................................................................................1
College 1: Introduction......................................................................................................................2
College 2: Company and Environment...............................................................................................2
College 3: Customer insights..............................................................................................................5
College 4: Customer value-driven marketing strategy.......................................................................7
College 5: Products, services and brands...........................................................................................9
College 6: Value proposition and pricing.........................................................................................11
College 7: Communication channel strategy....................................................................................13
College 8: Guest lecture...................................................................................................................16
College 9: Customer journey and experience..................................................................................16




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,College 1: Introduction
Marketing
= activity, set of institutions, and processes for creating, communicating, delivering, and exchanging
offerings that have value for customers, clients, partners and society at large. (AMA)

= process by which companies engage customers, build strong customer relationship, and create
customer value in order to capture value from customers in return (Kotler & Armstrong)

Marketing techniques:
1. Direct marketing
2. Referral marketing (WOM)
3. Advertising
4. Telemarketing

Advertising is part of marketing (not the same)!

Marketing is complex:
 Consumers with diversity of needs and wants
--> identify and target consumers consistent with your resources and capabilities
(internal/external analysis, market segmentation, targeting and positioning)

Value
--> of business = economic worth to owners
--> of a customer = economic worth to company
--> of personal values = central beliefs
--> for a customer = …

For manufacturer:
Value = Profit = Revenues - Costs

Good profit = long-term oriented leading to customer loyalty, repeat purchase, etc.
Bad profit = earned at customers' expense

For customer:
Value = Benefits - Sacrifices

Product decisions:
Market research to understand needs and wants


College 2: Company and Environment
Company objectives, mission and vision
Mission and vision statement help guide different department (development, marketing, culture) in
a company.

Objectives and strategy help direct efforts a company takes across its offerings and markets. They
differ in Ansoff's Matrix (1988):




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, Microenvironment:




Four levels of competition:
1. Budget / competition industry
2. Generic competition (beverage appliances)
3. Product class / category
4. Product form / type

Porter's 5 forces (external micro):
1. Threat of new entrants
2. Threat of substitute products or services
3. Bargaining power of suppliers
4. Bargaining power of buyers
5. Rivalry among existing competitors

Macroenvironment:




Marketing environment strategy and assessment
 Bird's eye view (internal/external)
o SWOT analysis
 Strengths, weaknesses = internal


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