Marketing Mix, Planning, Research & Implementation

1. Marketing Mix, Planning, Research & Implementation Marketing 304

2. Where are the Marketing Jobs? Manufacturer/Producer Suppliers Distrs Direct Whslrs Whslrs Rtlrs Rtlrs Target Customer Consumers, Businesses, Institutions Local, Regional, National, Global

3. A Contemporary Organization PRESIDENT Vice President Production Vice President Marketing. Vice President Finance Vice President Human Resources Vice President Info Tech Marketing Comm. Sales Marketing Research Product Planning Physical Distribution Customer Service • Advertising • Public Relations • Sales Promo • Special Events Fig. 21-1

4. The Marketing Mix Step One The Target Market -- Needs, Wants, Expectations Step Two The Positioning -- The Story Brand Image & Competitive Advantage Step Three “The 4 P’s” Product ---- Price ---- Place ---- Promotion

5. The Marketing Mgm’t Process PLANNING IMPLEMENTATION EVALUATION

6. Detailed Marketing Mgm’t ProcessScan -- Focus -- Act -- Scan -- Focus -- Act • Conduct the situation analysis • Develop marketing objectives • Design marketing mix strategies and tactics • Select target markets and measure market demand • Determine positioning (brand image and competitive advantages) • Decide “4P’s” (product, price, place and promotion) • Implement marketing mix strategies and tactics • Continuously evaluate . . . • performance toward reaching objectives • changes in the situation analysis • Make necessary controls/changes to objectives, strategies, and/or tactics

7. The Marketing Management Process Fig. 20-1 Scan -- Focus -- Act -- Scan -- Focus -- Act PLANNING Analyze situation Set objectives Select strategies and tactics IMPLEMENTATION Organize Staff Direct EVALUATION Compare performance with goals Marketing Information System (MkIS) Feedback, so management can adapt future plans and their implementation to the changing environment

8. The Structure of a MkIS MkIS Requests for information Systems and Procedures for Data: • Collection • Analyses • Storage • Database • Retrieval • and • Dissemination Regular and customized reports MARKETING MANAGER DSS Fig. 7-1

9. Planning begins with The Situation Analysis • The Situation Analysis is research designed to: • gather information regarding the environmentalfactors/forces influencing our marketing decisions, • then analyzing that information, • and forecasting the impact of whatever trends the analysis suggests. • Those factors/forces may be: • Macro or Micro • External or Internal • Uncontrollable or Semi-Controllable

10. External Macroenvironmental Forces Figure 2-1 Economic conditions Demo- graphics Competition COMPANY’S MARKETING PROGRAM Social and cultural forces Technology Political and legal forces

11. External Microenvironments Forces Marketing inter- mediaries Marketing inter- mediaries COMPANY’S MARKETING PROGRAM The market Suppliers Figure 2-2

12. Internal Micro-Forces Financial resources Human resources Production facilities COMPANY’S NONMARKETING RESOURCES Company image Location Research and development

13. Detailed Marketing Mgm’t ProcessScan -- Focus -- Act -- Scan -- Focus -- Act • Conduct the situation analysis • Develop marketing objectives • Design marketing mix strategies and tactics • Select target markets and measure market demand • Determine positioning (brand image and competitive advantages) • Decide “4P’s” (product, price, place and promotion) • Implement marketing mix strategies and tactics • Continuously evaluate . . . • performance toward reaching objectives • changes in the situation analysis • Make necessary controls/changes to objectives, strategies, and/or tactics

14. Define the objective Marketing Research Procedure Conduct situation analysis Conduct informal investigation Further study needed? End project and report results No Yes Plan and conduct formal investigation Analyze data and report results Conduct follow-up Fig. 7-3

15. Marketing Research • Conduct an informal investigation --talk to people • Conduct a formal investigation • 1st -- Secondary research—data already gathered for some other purpose. • 2nd -- Primary research—new data gathered specifically for the project at hand.

16. Secondary data is found in: • Libraries • Government documents • Trade and professional associations • Private business firms--syndicated sources • Internet, magazines, newspapers, radio and television stations • University research organizations • Company files and databases

17. Primary data is gathered using: • Quantitative Research -- Surveys, Questionnaires • Projects findings from the sample to the population from which sample was taken. • Qualitative -- Focus groups, depth studies • Psychological interpretations of the participants’ responses. • Experiments • Laboratory • Field -- Test markets • Observation • Personal • Mechanical

18. The Marketing Mgm’t Process PLANNING IMPLEMENTATION EVALUATION

19. Implementation ComprisesThree Activities: • Organizing the marketing effort • Design the marketing organization • Assign people/dpt’s. to tasks and roles • Define the relationship between marketing and the other functional divisions of the firm • Staffing the organization • “People first, strategy second” • Directing the execution of marketing plans • Carry out strategies and tactics • Direct the efforts of people • Adjusting to changes

20. (Continuous) Evaluation • Market Evaluation • On-going situation analysis updating • Performance versus Objectives Evaluation • On-going profit, sales, and market share analysis • On-going marketing audit/cost analysis

21. Is marketing research valuable? A survey of 100 consumer product brand managers revealed: Research can predict marketplace performance. Research can uncover new customer needs. My company will change directions if market research indicates it is warranted. Agree Disagree 59% 41% 41% 59% 60% 40%

22. Rank in order of importance. Beginnings Planning Middles Implementation Ends Evaluation--Reaction

23. The End

24. Detailed Marketing Mgm’t ProcessScan -- Focus -- Act -- Scan -- Focus -- Act • Do Situation Analysis/Marketing Research • Research company’s Marketing Environment • Develop Marketing Objectives & Forecasts • Set Marketing Mix Strategies & Tactics • Select and measure target market(s) • Positioning • Brand Image • Competitive Advantage(s) • Product -- Price -- Place -- Promotion • Implement Marketing Mix Strategies/Tactics • Monitor Situation & Performance • Marketing Information System (MkIS)