NA_CCM Corporate Marketing Management

1. NA_CCMCorporate Marketing Management Mitchell Young

2. What is marketing? The process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return. --Kotler and Armstrong (2010). Marketing is the management process for identifying, anticipating and satisfying customer requirements profitably. --The Chartered Institute of Marketing. Accessed 2012.

3. In other words… ‘There will always be need for some selling. But the aim of marketing is to make selling superfluous. The aim of marketing is to know and understand the customer so well that the product or service fits him and sells itself. Ideally, marketing should result in a customer who is ready to buy. All that should be needed is to make the product or service available’. Peter Drucker

4. 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.

5. The 7Ps of the marketing mix Figure 1.4 The 7Ps components of the marketing mix

6. From 4 P’s to 4 C’s

7. Transaction Relationship marketing One-off Exchange, brand management Short-term focus Mass communications Isolated market research Mass markets or market segments Market share Focus Time perspective Primary communication Customer feedback mechanism Market size Criterion for success Ongoing exchanges, customer management Long-term focus Personal communications Ongoing dialogue Market of One Mind share (share of customer)

8. Harvard Business Review January-February 2010

9. Is your company customer focused? • Can middle managers accurately describe your customer promise? • Can all members of your executive team name three things that most undermine trust among your existing customers? • Is your brand really the best option? Will it continue to be? • Have you embraced any novel ideas that have produced significant innovations in the last year? • Have front line staff posed any uncomfortable questions or suggested important improvements?

10. The marketing environment Task environment Broad environment • Company • Suppliers • Distributors • Dealers • Target customers • Demographic • Economic • Physical • Technological • Political-legal • Social-cultural

11. The Marketing Plan (1of2) I. Executive Summary II. Current Situation (industry analysis, internal analysis, consumer analysis) III. Environmental Analysis (PEST) IV. Market Segmentation and Target Market Analysis V. SWOT Analysis VI. Marketing Objectives Selection

12. The Marketing Plan (2of2) VII. Sales Forecast VIII. Marketing Mix Strategies • Product • Promotion • Price • Place/Distribution IX. Implementation Plan X. Follow up and Control Plan

13. Rethinking Product and Business • Need to expand the way we consider our products and businesses

14. Three Product Levels

15. Definitions of business Product definition Market definition • BP sells fuels • Biersdorf sells cosmetics • Renault sells automobiles • Xerox makes copy equipment • BP sells energy • Biersdorf sells beauty • Renault supplies transport vehicles • Xerox improves office productivity

16. What are they selling?

18. Porter’s Generic Strategies