ET 42022

Industrial Management

MARKETING MANAGEMENT

Thilini C. Gamage, Ph. D.

(Ph.D. (CMB), BSc. (Hons) in MIT (KLN), ACIM (UK))
Professor in Marketing
Department of Marketing Management, Faculty of Management Studies
Sabaragamuwa University of Sri Lanka
Learning Outcomes

Explain evolution of marketing & marketing management process

Design a customer driven marketing strategy

Demonstrate an understanding of the market place & customer

needs

The marketing process

What is Marketing ?

 Marketing is an organizational function and a set of

processes for creating, communicating, and delivering
value to customers and for managing customer
relationships in ways that benefit the organization and
its stakeholders (AMA)
What is 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
 What customers will we serve?

 How can we best serve these customers?

Customers vs. Consumers

 Customers buy a product

 Consumers use the product

 Example: Parents who buy video games from retailers are
customers. The kids who play the video games are the
consumers
Evolution of Marketing Concept
Evolution of Marketing Concept

Production strategy was to

Demand for THIS
consumer IS THE
goods rose PRODUCTION
End of second world war produce standard products on
CONCEPT
a mass scale

 Production concept is the idea that consumers will

favor products that are available or highly affordable
Evolution of Marketing Concept

Increasing living standards

Moremade
investors entered the
Quality of the individual product
consumers to demandindustry
better
and some
THIScompetition
IS THE PRODUCT
became manufacturers emphasis
quality and variety emerged CONCEPT

 Product concept is the idea that consumers will favor

products that offer the most quality, performance, and
features. Organization should therefore devote its
energy to making continuous product improvements
Evolution of Marketing Concept

Increasing competition THIS IS THE SALES

required “pushing” the Sales efforts such as advertising
CONCEPT
products towards customers emerged

 Selling concept is the idea that consumers will not buy

enough of the organization’s products unless it
undertakes a large scale selling and promotion effort
Evolution of Marketing Concept

The Japanese successThe

baffled
Japanese
theTHIS
seemed toAfollow
IS THE concept that puts the customer
MARKETING
West some other concept
CONCEPTfirst and production second

 Marketing concept is the idea that achieving

organizational goals depends on knowing the needs and
wants of the target markets and delivering the desired
satisfactions better than competitors do
Evolution of Marketing Concept

 Societal marketing concept is the idea that a company should

make good marketing decisions by considering consumers’
wants, the company’s requirements, consumers’ long-term
interests, and society’s long-run interests
Designing a Customer-Driven Marketing
Strategy
Marketing as an Exchange Process
There are two or more parties Each party has something
of value to the other party

Each party is capable of

communicating and delivery Each party is free to accept
or reject the offer

Each party believes that it is

desirable to deal with the
other party What is your role
as a marketing manager?
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

Customer Value and Satisfaction
Expectations
The Marketing Process

1. Market Analysis
- STP

2. Marketing Planning
- Marketing Mix

3. Marketing Control
STP

Market Segmentation
1. Identify bases for
segmenting the market
2. Develop segment profiles

Market Targeting
3. Develop measure of
segment attractiveness
4. Select target segments

Market Positioning
5. Develop positioning for
target segments
6. Develop a marketing
mix for each segment
Marketing Planning

 Developing strategies to make customers from the

target group to buy offerings through marketing
mix elements
The Marketing Mix

 The marketing mix comprises four basic marketing

strategies known as the four Ps:
 Product

 Price

 Place

 Promotion
Role of Marketing in National
Development

Efficient
Marketing Buy More More Income
To Companies

More Expansion
Income
Dividends

Taxes
More
More
Investment High Spill
Employment
Salaries over