Lesson 5 - Marketing Management

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
Production strategy was to

Demand for THIS
consumer IS rose
goods THE 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
Increasing living standards

Moremade
investors entered the
Quality of the individual product
consumers to demandindustry
betterand some competition
THIS 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
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
The Japanese success The

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
 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
MarketSegmentation
Segmentation
1.1.Identify
Identifybases
basesfor
for
segmenting
segmentingthe
themarket
market
2.2.Develop
Developsegment
segmentprofiles
profiles
Market
MarketTargeting
Targeting
3.3.Develop
Developmeasure
measureofof
segment
segmentattractiveness
attractiveness
4.4.Select
Selecttarget
targetsegments
segments
Market
MarketPositioning
Positioning
5.5.Develop
Developpositioning
positioningfor
for
target
targetsegments
segments
6.6.Develop
Developaamarketing
marketing
mix
mixfor
foreach
eachsegment
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
Efficient
Marketing Buy More More Income
Marketing
To Companies
More Expansion
Income
Dividends
Taxes
More
More
Investment High Spill
Employment
Salaries over

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ET 42022

Thilini C. Gamage, Ph. D.

Explain evolution of marketing & marketing management

 Marketing is an organizational function and a set of

 Marketing management is the art and science of

 Customers buy a product

Production strategy was to

 Production concept is the idea that consumers will

Increasing living standards

 Product concept is the idea that consumers will favor

Increasing competition THIS IS THE SALES

 Selling concept is the idea that consumers will not

The Japanese success The

 Marketing concept is the idea that achieving

Each party is capable of

Each party believes that it is

 Capture marketing insights

 Developing strategies to make customers from the

 The marketing mix comprises four basic marketing

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