Introduction Marketing
Introduction to marketing – Lecture 0 (C1)
Marketing (past): Marketing is not a specialised activity at all. It encompasses the entire
business. It is the whole business seen from the point of view of its result, that is, from the
consumers point of view. Concern and responsibility for marketing must therefore
permeate all areas of the enterprise.
Marketing (today): 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.
Markets are everywhere: Resource markets, government markets, consumer markets,
intermediary markets, manufracturer markets. →Giving and receiving money
Markets are important → world without market → self-sufficient, no specialization, no
economies of scale, no learning curve and a lower welfare
The marketing concept: The key to achieving organizational goals is being more effective
than competitors in creating, delivering, and communicating superior customer value to
your target markets. → Satisfy consumers
Marketing concepts:
1. The production concept → most efficient in what you produce
2. The sales concept → selling a huge quantity of a product, to make a product
3. The product/technology concept → looking at innovation (technology), product for
your customers, hoping customers will buy it
4. The marketing concept → the generating of value for your customers, customers
demand
5. The market-value concept →focusing on market value, more than customer
Holistic marketing = marketing concept+ (internal marketing/performance
marketing/integrated marketing/relationship marketing.)
- Internal marketing: marketing department, senior management, other departments.
- Integrated marketing: Communications, products and services, channels.
- Relationship marketing: Customers, channel, partners. → Customer journey
- Performance marketing: Sales revenue, brand and customer equity, ethics,
environment, legal, community. → Data driven marketing
Fundamental marketing terms:
- Needs: Basic human requirements
- Wants: Needs directed towards specific objects that might satisfy the need.
- Demands: Wants for specific products backed by an ability to pay.
Marketing environment:
- Macro environment → policies/legal, cultures, social, customers, demografisch,
economisch, technologisch.
- Micro environment: Suppliers, marketing intermediaries, publics, competitors.
Marketing mix:
- Product
- Service
- Brand
, - Place/ Distribution
- Incentives
- Promotion /Communication
- Price
Market orientated strategic planning – Lecture 1 (C3, 4 & 5)
Marketing and customer value: The value (creation and) delivery process/ sequence.
The strategic planning, implementation, and control process.
Planning: Corporate planning (highest level) → Division planning (lager level) → Business
planning/strategic business unit (one brand) → Product planning (the particular product)
Coperate planning:
- Define the corporate mission/vision
o Good mission statements
▪ Focus on a limited number of goals
▪ Stress the company’s major policies and values
▪ Define the major competitive spheres within which the company will
operate
▪ Take a long-term view
▪ Are short, memorable, and meaningful as possible purpose
▪ (Kan kijken naar product orientation missions vs market missions)
- Build corparate culture: How you want to be
o Is the key to market success
o It is about shared experience, stories, beliefs an norms that characterize an
organization.
- Establish Strategic Business Unit (SBUs):
o It is a single business or collection of related businesses, that can be planned
separately from the rest of the company.
o It has its own set of competitors
o It has a manager responsible for:
▪ Strategic planning
▪ Profitability
- Assess growth opportunities:
o Intensive growth: Improving
existing businesses (Ansoff’s
growth matrix)
▪ Market penetration:
Enchancing its market shar
in existing locations through
promotions, loyalty
programs, and store
renovations.
▪ Market development:
Opening stored in
international markets.
▪ Product development: To
keep attracting existing customer, introduce new beverages and food
items.
▪ Diversification: Launching new business lines on new markets.
o Integrative growth: Vertical/horizontal integrateion within the industry.
o Diversification growth: Outside the present businesses/industries
- Assign resources to each Strategic Business Unit
, Business planning:
1. Goal formuleren
2. Strategy formulation
3. Program formulation
4. Implementation
5. Feedback and control
- Uitzoeken hoe je value kan creëren
- SWOT-analyse
- What do you like to achieve → setting up a goal
- How are you going to implement you strategy?
Two activities to define the target market:
1. Strategy: Involves choosing a well-defined market in which the company will compete
and determining the value it intends to create in this market.
2. Tactics (marketing mix): Make the company’s strategy to come alive.
Both are fundamental interwind
Target market identification: (5 C’s of marketing)
The target market, in which a company aims to create value comprises five factors:
- Target customers
- Collaborators
- Competitors
- Company: internal factors
- Context or climate: consumer behaviour, positionering
Developing a value proposition:
A successful offering must create superior value not only for target customers, but also for
the company and its collaborators. There are therefore three types of value:
1. Customer value: Needs and benefits in comparison to competing products.
2. Collaborator value: Benefits and costs for collaborators. Dit zijn bijvoorbeeld
influencers.
3. Company value: Benefits and cost, related to the company’s goals and the value of
other opportunities that could pursued by the company.
➔ Optimal value proposition is the overlap of all three.
Designing the marketing tactics
The market offering is the actual product or service the company deploys to fulfil customer
needs.
And is reflected in the seven company’s tactics:
- Product – ownership
-Service – Non-ownership
-Brand – differentiate from competing values products/services
-Price – monetary charge that customers and collaborators incur to receive
-Incentives – tools to increase benefits and reduce costs
-Communication – apprises target customers of the specifies of the offering
-Distribution – encompass the channel(s) used to deliver
Tactics are the way to implement the strategy
- Marketing value-map
Companies are not entities operation in isolation. They are operating in a market
environment with fierce competition. So looking at the market (competitive) forces remains
crucial!
Introduction to marketing – Lecture 0 (C1)
Marketing (past): Marketing is not a specialised activity at all. It encompasses the entire
business. It is the whole business seen from the point of view of its result, that is, from the
consumers point of view. Concern and responsibility for marketing must therefore
permeate all areas of the enterprise.
Marketing (today): 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.
Markets are everywhere: Resource markets, government markets, consumer markets,
intermediary markets, manufracturer markets. →Giving and receiving money
Markets are important → world without market → self-sufficient, no specialization, no
economies of scale, no learning curve and a lower welfare
The marketing concept: The key to achieving organizational goals is being more effective
than competitors in creating, delivering, and communicating superior customer value to
your target markets. → Satisfy consumers
Marketing concepts:
1. The production concept → most efficient in what you produce
2. The sales concept → selling a huge quantity of a product, to make a product
3. The product/technology concept → looking at innovation (technology), product for
your customers, hoping customers will buy it
4. The marketing concept → the generating of value for your customers, customers
demand
5. The market-value concept →focusing on market value, more than customer
Holistic marketing = marketing concept+ (internal marketing/performance
marketing/integrated marketing/relationship marketing.)
- Internal marketing: marketing department, senior management, other departments.
- Integrated marketing: Communications, products and services, channels.
- Relationship marketing: Customers, channel, partners. → Customer journey
- Performance marketing: Sales revenue, brand and customer equity, ethics,
environment, legal, community. → Data driven marketing
Fundamental marketing terms:
- Needs: Basic human requirements
- Wants: Needs directed towards specific objects that might satisfy the need.
- Demands: Wants for specific products backed by an ability to pay.
Marketing environment:
- Macro environment → policies/legal, cultures, social, customers, demografisch,
economisch, technologisch.
- Micro environment: Suppliers, marketing intermediaries, publics, competitors.
Marketing mix:
- Product
- Service
- Brand
, - Place/ Distribution
- Incentives
- Promotion /Communication
- Price
Market orientated strategic planning – Lecture 1 (C3, 4 & 5)
Marketing and customer value: The value (creation and) delivery process/ sequence.
The strategic planning, implementation, and control process.
Planning: Corporate planning (highest level) → Division planning (lager level) → Business
planning/strategic business unit (one brand) → Product planning (the particular product)
Coperate planning:
- Define the corporate mission/vision
o Good mission statements
▪ Focus on a limited number of goals
▪ Stress the company’s major policies and values
▪ Define the major competitive spheres within which the company will
operate
▪ Take a long-term view
▪ Are short, memorable, and meaningful as possible purpose
▪ (Kan kijken naar product orientation missions vs market missions)
- Build corparate culture: How you want to be
o Is the key to market success
o It is about shared experience, stories, beliefs an norms that characterize an
organization.
- Establish Strategic Business Unit (SBUs):
o It is a single business or collection of related businesses, that can be planned
separately from the rest of the company.
o It has its own set of competitors
o It has a manager responsible for:
▪ Strategic planning
▪ Profitability
- Assess growth opportunities:
o Intensive growth: Improving
existing businesses (Ansoff’s
growth matrix)
▪ Market penetration:
Enchancing its market shar
in existing locations through
promotions, loyalty
programs, and store
renovations.
▪ Market development:
Opening stored in
international markets.
▪ Product development: To
keep attracting existing customer, introduce new beverages and food
items.
▪ Diversification: Launching new business lines on new markets.
o Integrative growth: Vertical/horizontal integrateion within the industry.
o Diversification growth: Outside the present businesses/industries
- Assign resources to each Strategic Business Unit
, Business planning:
1. Goal formuleren
2. Strategy formulation
3. Program formulation
4. Implementation
5. Feedback and control
- Uitzoeken hoe je value kan creëren
- SWOT-analyse
- What do you like to achieve → setting up a goal
- How are you going to implement you strategy?
Two activities to define the target market:
1. Strategy: Involves choosing a well-defined market in which the company will compete
and determining the value it intends to create in this market.
2. Tactics (marketing mix): Make the company’s strategy to come alive.
Both are fundamental interwind
Target market identification: (5 C’s of marketing)
The target market, in which a company aims to create value comprises five factors:
- Target customers
- Collaborators
- Competitors
- Company: internal factors
- Context or climate: consumer behaviour, positionering
Developing a value proposition:
A successful offering must create superior value not only for target customers, but also for
the company and its collaborators. There are therefore three types of value:
1. Customer value: Needs and benefits in comparison to competing products.
2. Collaborator value: Benefits and costs for collaborators. Dit zijn bijvoorbeeld
influencers.
3. Company value: Benefits and cost, related to the company’s goals and the value of
other opportunities that could pursued by the company.
➔ Optimal value proposition is the overlap of all three.
Designing the marketing tactics
The market offering is the actual product or service the company deploys to fulfil customer
needs.
And is reflected in the seven company’s tactics:
- Product – ownership
-Service – Non-ownership
-Brand – differentiate from competing values products/services
-Price – monetary charge that customers and collaborators incur to receive
-Incentives – tools to increase benefits and reduce costs
-Communication – apprises target customers of the specifies of the offering
-Distribution – encompass the channel(s) used to deliver
Tactics are the way to implement the strategy
- Marketing value-map
Companies are not entities operation in isolation. They are operating in a market
environment with fierce competition. So looking at the market (competitive) forces remains
crucial!
