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    Marketing Management With Dr. Rizwan Ali: The University of Lahore

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    Aqib Latif
    This document provides an overview of marketing management concepts taught by Dr. Rizwan Ali at Lahore Business School. It defines marketing, discusses the differences between management and administration as well as between selling and marketing. It outlines the 4 P's of marketing and explains the importance of marketing. The document also covers fundamental marketing concepts such as needs, wants, demands, segmentation, targeting, positioning, branding, value, satisfaction, supply chains, competition, and organizational buying situations.

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    Marketing Management With Dr. Rizwan Ali: The University of Lahore

    Uploaded by

    Aqib Latif
    21 views21 pages
    This document provides an overview of marketing management concepts taught by Dr. Rizwan Ali at Lahore Business School. It defines marketing, discusses the differences between management and administration as well as between selling and marketing. It outlines the 4 P's of marketing and explains the importance of marketing. The document also covers fundamental marketing concepts such as needs, wants, demands, segmentation, targeting, positioning, branding, value, satisfaction, supply chains, competition, and organizational buying situations.

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    Lecture 1

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    This document provides an overview of marketing management concepts taught by Dr. Rizwan Ali at Lahore Business School. It defines marketing, discusses the differences between management and administration as well as between selling and marketing. It outlines the 4 P's of marketing and explains the importance of marketing. The document also covers fundamental marketing concepts such as needs, wants, demands, segmentation, targeting, positioning, branding, value, satisfaction, supply chains, competition, and organizational buying situations.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    21 views21 pages

    Marketing Management With Dr. Rizwan Ali: The University of Lahore

    Uploaded by

    Aqib Latif
    This document provides an overview of marketing management concepts taught by Dr. Rizwan Ali at Lahore Business School. It defines marketing, discusses the differences between management and administration as well as between selling and marketing. It outlines the 4 P's of marketing and explains the importance of marketing. The document also covers fundamental marketing concepts such as needs, wants, demands, segmentation, targeting, positioning, branding, value, satisfaction, supply chains, competition, and organizational buying situations.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 21

    Marketing Management

    with Dr. Rizwan Ali

    Lahore Business School (LBS)


    The University of Lahore
    Ph,D (Management Science), China
    rizwan.ali1@lbs.uol.edu.pk
    0300-8888916
    What is Marketing?
    What is Marketing?
    (CCDVTP)
    Kotler/V. Kumar:
    “Marketing is all about to creating, communicating and delivering superior
    customer value to target market at profit.
    Management vs Administration
    Management vs Administration
    Administration
    Administration makes the important decisions of an enterprise in its entirety

    Management
    Management makes the decisions within the confines of the framework, which
    is set up by the administration
    Manager
    Direct responsibility over the action
    What is difference between selling and marketing?
    Selling:
     Selling is the art that takes a product, service or intangible and through the simple exchange of money becomes
    yours.
     You buy a car and someone is the seller of that car, you bought insurance and someone sold you that insurance.
     Selling is part of marketing
    Marketing:
     Marketing is about identifying and meeting human and social needs.
     meeting needs profitably"
    4 P's of marketing:
    (1) product,

    (2) price,

    (3) place

    (4) promotion
    Importance of Marketing
    Why it is required

    Financial success

    Making the right decision

    8
    Scope of Marketing
    What is Marketing Management

    Some definitions:

    “Meeting needs profitably”

    AMA: “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”

    9
    Scope of Marketing Management
    Exchanges & Transfers


    Exchange

    Process of obtaining a desired product from someone
    by offering something in return

    Transaction

    Trade of values between two or more parties

    Transfer

    One party gives something to other but doesn’t receive
    anything in return

    10
    Scope of Marketing Management
    What is marketed?


    Goods

    Services

    Events

    Experiences

    Persons

    Places

    Properties

    Organizations

    Information

    Ideas
    11
    Fundamental Marketing Concepts
    Core Concepts


    Needs
    Basic Human Requirements


    Wants
    Needs which are directed to a specific object


    Demands
    Wants for specific products backed by ability to pay (acquire)

    12
    Fundamental Marketing Concepts
    Core Concepts


    Understanding Needs

    Stated Need – Inexpensive Car

    Unstated Need – Branded, Service

    Real Need – Quality

    Delight Need – A good discount deal

    Secret Need – ‘wanna’ look cool!!!

    13
    Fundamental Marketing Concepts
    Core Concepts

    Satisfying everyone……how?


    Segmentation
     The process of dividing a market of potential customers into groups/segments, based on different
    characteristics.
     Different segments based on several factors (Demographic, Psychographic)

    Target Markets
     Concentrating your marketing efforts on key segments consisting of the customers whose needs and
    desires most closely match your product/service offerings.
     Segments presenting greatest opportunity

    Positioning
     The marketing department creates an image for the product based on its intended audience. This is
    created through the use of promotion, price, place and product.
    Positioned carefully as delivering certain benefits….
    (Volvo…. Safety)

    14
    Fundamental Marketing Concepts
    Core Concepts


    Offering
    An offering in marketing is the total offer to your customers. An offering is
    more than the product itself and includes elements that represent additional
    value to your customers, such as availability, convenient delivery, technical
    support or quality of service
    Positioning is “crafted” into an offering (Benefits to satisfy)

    Brands
    The marketing practice of creating a name, symbol or design that identifies
    and differentiates a product from other products . An effective brand strategy
    gives you a major edge in increasingly competitive markets. 
    An offering from a known source (McDonald’s…..Cleanliness, Convenience)

    15
    Fundamental Marketing Concepts
    Core Concepts


    Value
    Also known as customer-perceived value, is the difference between a
    prospective customer's evaluation of the benefits and costs of one product
    when compared with others.
    ‘perceived’ tangible and intangible benefits and costs to customers
    (QSP)

    Satisfaction
    Fulfillment of a need
    *WRONG*
    Person’s comparative judgments resulting from a product’s perceived
    performance
    If performance < expectations: dissatisfied/dissappointed
    If performance>=expectations: satisfied/delighted

    16
    Fundamental Marketing Concepts
    Core Concepts


    Supply Chain

    Marketing Channel: Marketer to target buyer

    while


    Supply Chain: A complete value delivery system
    From Raw materials to components to final
    buyers

    17
    Fundamental Marketing Concepts
    Core Concepts


    Competition
    All the actual and potential rival offerings
    and substitutes that a buyer might consider

    18
    What is Organizational
    Buying
    Buying Situations

    Suppliers

    In-Suppliers: Those who are on approved list and are selling to the company

    Out-Suppliers: Those who are trying to penetrate


    Situations

    Straight Re-Buy
     Ordering again with same product
     Generally to same seller or in-sellers
     Out-Sellers try to do something “new” to enter

    Modified Re-Buy
     Revised product or requirements in any form
     New suppliers may be called | Critical for In-Suppliers

    New Task
     Buying for the first time
     Complete process is carried out starting from developing product and requirements
     Strong evaluations and multiple reviews etc.
    What is Organizational
    Buying
    Systems Buying and Selling

    Systems Buying: Buying a complete solution from a
    supplier/seller


    Going for Turnkey solution


    May even involve Systems Contracting – Even providing
    repairing & maintenance as part of sales


    Sales of F-16s to Pakistan from USA includes?

    Thanks

    21

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