Marketing Management
Table of Contents
PART 1: Fundamentals of Marketing Management..........................................4
Chapter 1: Defining Marketing for the New Realities....................................4
The scope of marketing.............................................................................4
The new marketing realities......................................................................7
The role of marketing in the organization.................................................9
Organizing the marketing department......................................................9
Everything starts with the mission............................................................9
Chapter 2: Marketing Planning and Management.......................................16
PART 2: Understanding the market................................................................16
Chapter 3: Analysing consumer markets....................................................16
The model of consumer behaviour..........................................................16
Consumer characteristics........................................................................17
Consumer Psychology.............................................................................19
The Buying Decision Process...................................................................22
...................................................................................................................22
Chapter 4: Analysing business markets......................................................25
Differences between B2C & B2B.............................................................25
The buying decision B2C & B2B..............................................................26
Chapter 5: Conducting marketing research................................................27
The scope of marketing research............................................................27
The marketing research process.............................................................27
PART 3: Developing a viable market strategy................................................32
Chapter 6: Identifying market segments and target costumers.................33
What is segmentation?............................................................................33
How to segment the consumer market:..................................................33
Targeting: determine which customer group to focus your marketing on
................................................................................................................36
1
, Logic of targeting:...................................................................................36
Evaluating the viability of a particular customer segment:.....................36
CHAPTER 7: crafting a customer value proposition and positioning...........40
Why do you need a value proposition and a positioning strategy?.........40
Positioning: defining your place in the market........................................42
Part 4: Designing Value – Designing & managing products and services......46
Chapter 8: Designing and Managing Products............................................46
Differentiating your products...................................................................46
Packaging and Labelling..........................................................................48
Guarantees and Warranties.....................................................................50
Product portfolios and Product lines........................................................50
Physical Products vs. Digital Products.....................................................52
Chapter 9: Designing and Managing Services............................................56
Nature of Services – How to tackle the insecurities linked to services?. .56
How to use service differentiation to differentiate your products?..........59
How to achieve service excellence?........................................................59
Chapter 10: Building Strong Brands...........................................................62
How does branding work?.......................................................................62
Brand equity & power..............................................................................63
Designing the brand................................................................................65
Brand Hierarchy.......................................................................................68
Brand positioning Bull’s-Eye....................................................................68
Chapter 11: Managing Pricing (and Sales Promotions)...............................73
Understanding Pricing.............................................................................73
Consumer Psychology and Pricing...........................................................74
Setting the Price......................................................................................74
Initiating and Responding to Price changes.............................................78
PART 5: Communicating Value......................................................................82
Chapter 12: Managing Marketing Communications....................................83
The Role of Marketing Communication....................................................83
2
, Developing an Effective Communication Program..................................84
Chapter 13: Designing an Integrated marketing campaign in the digital age
...................................................................................................................89
What is Integrated Marketing Communications.......................................89
PART 6: Delivering Value...............................................................................94
Chapter 15: Designing and Managing distribution channels......................94
The Role of Distribution Channels...........................................................94
Channel Management Decisions.............................................................96
Channel Cooperation and Conflict.........................................................100
Chapter 16: Managing Retailing...............................................................101
The Modern Retail Environment............................................................101
Types of Retailers..................................................................................102
PART 7: Managing Growth...........................................................................107
Chapter 17: Driving growth in competitive markets.................................107
Understanding the competitive environment........................................107
Product Life Cycle Marketing strategies................................................109
Chapter 19: Building customer loyalty.....................................................111
Managing customer acquisition & retention..........................................111
Managing Customer Satisfaction & Loyalty...........................................112
Managing Customer Relationships........................................................113
Managing Customer Lifetime Value.......................................................113
Chapter 20: Tapping into global markets.................................................114
Tapping into global markets – process..................................................114
Deciding whether to go abroad.............................................................115
3
, PART 1: Fundamentals of Marketing Management
Chapter 1: Defining Marketing for the New Realities
The scope of marketing
Marketing = the activity or business of promoting and selling products or
services, including market research and advertising
Marketing goal = finding customer needs and satisfy them better than the
competition
Google : people needed to access information more effectively and
efficiently
Ikea : people wanted good furniture at lower prices
Tesla: to accelerate the world’s transition to sustainable energy
Definition of Marketing Management = the art and science of choosing target
markets and getting, keeping, and growing customers through creating,
delivering, and communicating superior customer value.
EXERCISE ZARA:
- Zara is highly strategic in selecting its target markets:
o Fashion-conscious: consumers who value trendy affordable
clothing
o Diverse age group: from babies to middle-aged adults
o High-fashion looks at accessible prices
- Acquiring new customers through its fast fashion model
- Key strategies:
o Product innovation and responsiveness
Zara is known for its ability to respond rapidly to fashion
trends
4
Table of Contents
PART 1: Fundamentals of Marketing Management..........................................4
Chapter 1: Defining Marketing for the New Realities....................................4
The scope of marketing.............................................................................4
The new marketing realities......................................................................7
The role of marketing in the organization.................................................9
Organizing the marketing department......................................................9
Everything starts with the mission............................................................9
Chapter 2: Marketing Planning and Management.......................................16
PART 2: Understanding the market................................................................16
Chapter 3: Analysing consumer markets....................................................16
The model of consumer behaviour..........................................................16
Consumer characteristics........................................................................17
Consumer Psychology.............................................................................19
The Buying Decision Process...................................................................22
...................................................................................................................22
Chapter 4: Analysing business markets......................................................25
Differences between B2C & B2B.............................................................25
The buying decision B2C & B2B..............................................................26
Chapter 5: Conducting marketing research................................................27
The scope of marketing research............................................................27
The marketing research process.............................................................27
PART 3: Developing a viable market strategy................................................32
Chapter 6: Identifying market segments and target costumers.................33
What is segmentation?............................................................................33
How to segment the consumer market:..................................................33
Targeting: determine which customer group to focus your marketing on
................................................................................................................36
1
, Logic of targeting:...................................................................................36
Evaluating the viability of a particular customer segment:.....................36
CHAPTER 7: crafting a customer value proposition and positioning...........40
Why do you need a value proposition and a positioning strategy?.........40
Positioning: defining your place in the market........................................42
Part 4: Designing Value – Designing & managing products and services......46
Chapter 8: Designing and Managing Products............................................46
Differentiating your products...................................................................46
Packaging and Labelling..........................................................................48
Guarantees and Warranties.....................................................................50
Product portfolios and Product lines........................................................50
Physical Products vs. Digital Products.....................................................52
Chapter 9: Designing and Managing Services............................................56
Nature of Services – How to tackle the insecurities linked to services?. .56
How to use service differentiation to differentiate your products?..........59
How to achieve service excellence?........................................................59
Chapter 10: Building Strong Brands...........................................................62
How does branding work?.......................................................................62
Brand equity & power..............................................................................63
Designing the brand................................................................................65
Brand Hierarchy.......................................................................................68
Brand positioning Bull’s-Eye....................................................................68
Chapter 11: Managing Pricing (and Sales Promotions)...............................73
Understanding Pricing.............................................................................73
Consumer Psychology and Pricing...........................................................74
Setting the Price......................................................................................74
Initiating and Responding to Price changes.............................................78
PART 5: Communicating Value......................................................................82
Chapter 12: Managing Marketing Communications....................................83
The Role of Marketing Communication....................................................83
2
, Developing an Effective Communication Program..................................84
Chapter 13: Designing an Integrated marketing campaign in the digital age
...................................................................................................................89
What is Integrated Marketing Communications.......................................89
PART 6: Delivering Value...............................................................................94
Chapter 15: Designing and Managing distribution channels......................94
The Role of Distribution Channels...........................................................94
Channel Management Decisions.............................................................96
Channel Cooperation and Conflict.........................................................100
Chapter 16: Managing Retailing...............................................................101
The Modern Retail Environment............................................................101
Types of Retailers..................................................................................102
PART 7: Managing Growth...........................................................................107
Chapter 17: Driving growth in competitive markets.................................107
Understanding the competitive environment........................................107
Product Life Cycle Marketing strategies................................................109
Chapter 19: Building customer loyalty.....................................................111
Managing customer acquisition & retention..........................................111
Managing Customer Satisfaction & Loyalty...........................................112
Managing Customer Relationships........................................................113
Managing Customer Lifetime Value.......................................................113
Chapter 20: Tapping into global markets.................................................114
Tapping into global markets – process..................................................114
Deciding whether to go abroad.............................................................115
3
, PART 1: Fundamentals of Marketing Management
Chapter 1: Defining Marketing for the New Realities
The scope of marketing
Marketing = the activity or business of promoting and selling products or
services, including market research and advertising
Marketing goal = finding customer needs and satisfy them better than the
competition
Google : people needed to access information more effectively and
efficiently
Ikea : people wanted good furniture at lower prices
Tesla: to accelerate the world’s transition to sustainable energy
Definition of Marketing Management = the art and science of choosing target
markets and getting, keeping, and growing customers through creating,
delivering, and communicating superior customer value.
EXERCISE ZARA:
- Zara is highly strategic in selecting its target markets:
o Fashion-conscious: consumers who value trendy affordable
clothing
o Diverse age group: from babies to middle-aged adults
o High-fashion looks at accessible prices
- Acquiring new customers through its fast fashion model
- Key strategies:
o Product innovation and responsiveness
Zara is known for its ability to respond rapidly to fashion
trends
4
