...Components of a modern Marketing Information System Internal records Marketing intelligence Identifying the major forces The demographic environment The economic environment The socio-cultural environment The natural environment The technological environment The political –legal environment Scanning the marketing environment , Forecast demand, and conduction marketing research The Marketing Research System The Marketing Research Process Chapter No. 2/3 Chapter 1 4 11 18 24 Chapter 3 4 60 61 62 65 66 68 70 71 73 74 Chapter 3 5 82 84 2 6 Creating Customer Value and Customer Relationship Building Customer Value, Satisfaction and Loyalty Customer Perceived Value Total Customer Satisfaction Customer Relationship Management Analyzing Consumer Markets What influences consumer behavior The Buying decision process : the five stage model Analyzing Business Market What is organizational buying? Stages in the buying process Indentifying Market Segments and Targets Bases for Segmenting Consumer Markets Basis of Segmenting Business Market Market targeting Competitive Dynamics Product Life Cycle Marketing Strategies...
Words: 737 - Pages: 3
...the economic dynamics of market forces affecting competition, different economic systems, the role of government in the economy, and economic aspects of international trade. Discusses the labor market, interest rates and the supply of money, and performance of a national economy. Examines the use of economics in business decisions, considering such principles as opportunity costs, diminishing returns, and the marginal principle. INSTRUCTIONAL MATERIALS Required Resources O'Sullivan, A., Sheffrin, S., & Perez, S. (2012). Survey of economics: Principles, applications, and tools (5th ed.). Upper Saddle River, NJ: Pearson-Prentice Hall. MyEconLab book key Note: This book key comes with the purchase of a new textbook and is needed in order to access MyEconLab. Supplemental Resources Aaronson, D., Mazumder, B., & Schechter, S. (2010). What is behind the rise in long-term unemployment? Economic Perspectives, 34(3/4), 28-51. Andreyeva, T., Long, M. W., & Brownell, K. D. (2010). The Impact of Food Prices on Consumption: A Systematic Review of Research on the Price Elasticity of Demand for Food. American Journal of Public Health, 100(2), 216-22 Heyne, P., Boettke, P. J., & Prychitko, D. L. (2010). The economic way of thinking. (12th ed.). Upper Saddle River: Pearson-Prentice Hall. High, J. (2011). Economic Theory and the Rise of Big Business in America, 1870-1910. Business History Review, 85(1), 85-112. Luojia, H., & Toussaint-Comeau, M. (2010). Do labor market activities help predict...
Words: 5350 - Pages: 22
...BUS 5060 Discussion Questions for Himalaya Shampoo Case Study You will find the following readings in your textbook to be helpful in analyzing this case: • Chapter 6 – Analyzing Consumer Markets o Pages 150-166 • Chapter 8 – Identifying Market Segments and Targets o Pages 212-236 • Chapter 9 – Creating Brand Equity o Pages 240-255 • Chapter 10 – Crafting the Brand Positioning o Pages 274-294 o Use a positioning map to help you answer question #5 Please read the notes at the bottom of exhibit 1 carefully to understand the significance of the data. (e.g. 1=Strongly Agree, 5=Strongly Disagree). Note also that the responses in Exhibit 1 are averaged by category, not by brand. Discussion Questions: 1. Based on the data in case Exhibit 1, what inferences can be drawn from the survey responses regarding the herbal-shampoo category? 2. Discuss the implications of your analysis of Q1 for both the category and the brands involved in the study. 3. Given the inferences from your responses to questions 1 and 2, what do you think motivates consumers to buy the brands of shampoo in the study? Provide a conceptual explanation, taking case Exhibit 2 into consideration. (Consider finding and viewing the relevant advertisements on YouTube.) 4. From the viewpoint of brand-building, what kinds of inputs can be obtained from case Exhibit 3 that substantiate the inferences from case Exhibit 1? 5. What recommendations would you provide to differentiate...
Words: 259 - Pages: 2
...Employees: More than 18000 Subsidiaries: GCPL, Godrej Infotech Ltd, Godrej Industries Ltd, Godrej Properties, Godrej Agrovet Website: www.godrej.com Introduction to Corporate: Godrej Group consists of 2 corporate entities: 1. Godrej Consumer Products 2. Godrej Industries Godrej Industries Ltd. (GIL) is India’s leading manufacturer of oleo-chemicals and makes more than a hundred chemicals for use in over two dozen industries. It also has a major presence in food products such as refined oil and tetra pack fruit beverages. Besides, it operates businesses in medical diagnostics and real estate. Besides its three businesses, Godrej Industries also runs 4 divisions- Corporate Finance, Corporate HR, Corporate Audit and Assurance and Research & Development- which operate on behalf of the entire Godrej Group. GIL has built a strong manufacturing base capable of delivering international quality products at competitive prices. It operates two plants, one at Valia in the Indian state of Gujarat and a second at Vikhroli in suburban Mumbai. The company’s products are exported to 40countries in North and South America, Asia, Europe, Australia and Africa, and it leads the Indian market in the production of fatty acids, fatty alcohols and AOS. Godrej Consumer Products (GCPL) is a leader among India’s FMCG companies, with leading Household and Personal Care Products like Good Knight, Cinthol, Godrej No 1, Expert, Hit, Jet, Fair glow, Ezee,...
Words: 1878 - Pages: 8
...Marketing Management By Philip, Kevin Lane Keller, Abraham Koshy, Mithileshwar Jha logo copy.tif SUMMARY by Chapter 1 Understanding Marketing Management Marketing is an essential art and science that is engaged in a vast number of activities by both persons and organizations. It has become an increasingly vital ingredient in the success of a business. Good marketing is the result of careful planning and execution. There are two sides to marketing – the formulated side and the creative side. It is important to lay the foundation in marketing concepts, tools, frameworks and issues of the formulated side while at the same time instil the real creativity and passion for marketing, as we shall come to see in this chapter. Social Definition of Marketing Marketing is a societal process by which individuals and groups obtain what they need and want through creating, offering and freely exchanging products and services of value with others. Marketing is increasingly becoming an important function in all organizations to ensure that demand for a product or service persists along with customer retention. Scope of Marketing A good marketer must be able to answer the following questions: What is Marketing? The formal definition of marketing is, Marketing is an organizational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationship in ways that benefit the organization and its stakeholders...
Words: 13933 - Pages: 56
...MGT220 Principles of Marketing Long Exam No. 1 Review Guide CHAPTER I : Marketing: Creating and Capturing Customer Value 1. What is Marketing? 2. The Marketing Process a. Understanding the marketplace i. Customer Needs, Wants, Demands ii. Market Offerings iii. Marketing Myopia iv. Markets b. Designing a customer-driven marketing strategy v. Marketing Management vi. Market Segmentation vii. Target Marketing viii. Market Positiong ix. Value Proposition x. Marketing Management Orientation 1. Production Concept 2. Product Concept 3. Selling Concept 4. Marketing Concept 5. Societal Marketing Concept c. Preparing an Integrated Marketing Plan and Program xi. Marketing Mix xii. Integrated Marketing Program d. Building Customer Relationship xiii. Customer Relationship Management xiv. Relationship Building Blocks 6. Customer Value 7. Customer Satisfaction xv. Partner Relationship Management e. Capturing Value from Customers xvi. Customer Loyalty xvii. Share of Customers xviii. Customer Equity 3. The changing Marketing Landscape CHAPTER II : Company and Marketing Strategy Partnering to Build Customer Relationships 8. Strategic Planning 9. Steps in Strategic Planning ...
Words: 671 - Pages: 3
...world. This course introduces, to the students, the fundamentals of marketing such as key concepts, theories, and applications along with emerging marketing trends which are an integral part of managing profitable customer relationships and are essential to any successful organization. The goal of every marketer is to create more value for both internal and external customers. This course will enhance students’ knowledge and problem solving abilities towards Marketing related issues using customer-centric approach. | Course Prerequisite(s) | None | Course Objectives & Learning Outcomes | A) B) C) D) E) F)G)H)I) | Defining and understanding the ‘Marketing Concept’.Elaborating the ‘Marketing Process’.Analyzing the Internal and External Marketing Environment.Explaining STP (Segmentation, Targeting, Positioning) strategies.Designing a ‘Marketing Mix’.Emphasizing Ethics and Social Responsibility in Marketing.Discussing the...
Words: 2574 - Pages: 11
...Questions Chapter 1 Q1) What is marketing research? Marketing research is gathering and analyzing data to help make marketing decisions. Q2) What is the relationship between the marketing concept and the existence of marketing research? Marketing concept means that the company only introduces what consumers need and want. To know what consumers need and want you should apply marketing research. Q3) What is the importance of marketing research? The importance is to study the change of the external environment and the continuous change of people’s tastes to make better marketing decisions. Q4) What are the 3 roles of marketing research 1) Descriptive role 2) Diagnostic role 3) Predictive role Q5) What is the relationship between marketing research and the marketing environment? Marketing research aims to study the marketing environment to make better marketing decisions rather than using judgments. Q6) What are the types of marketing research? 1) Applied: to better understand the market (Specific) 2) Basic: To expand knowledge (General) Chapter 2 Q7) List the different steps of the market research process? 1) Identifying the problem, objective, and hypothesis 2) Creating the research design 3) Creating the research method 4) Selecting the sampling procedure 5) Collecting data 6) Analyzing the data 7) Writing the report 8) Follow-up Q8) Briefly define each step, what are the major...
Words: 631 - Pages: 3
...BUSINESS ADMINISTRATION Naval, Biliran Prepared by: TERRY JEAN B. DOCALLOS Course, Year & Sec.: BSBA III-A Instructor: RICARDO P. MEJIA, MPM TABLE OF CONTENTS I. Chapter 2: Corporate, Business and Mktg. Strat. 1 * Summary 2 * Reaction 4 * Recommendation 5 * Conclusion 6 II. Chapter 3: Marketing and Competitive Space 7 * Summary 8 * Reaction 10 * Recommendation 11 * Conclusion 12 III. Chapter 9: Strategic Brand Management 13 * Summary 14 * Reaction 16 * Recommendation 17 * Conclusion 18 IV. References 19 1 2 SUMMARY Business and marketing strategies are being altered and renewed in a wide range of companies by executives in their efforts to survive and prosper in an increasingly complex and demanding business environment. Choosing high performance strategies in this environment of constant change requires vision, sound strategic logic and commitment. Market-driven organizations develop closely coordinated business and marketing strategies. Executives in many companies are reinventing their business models with the objective of improving their competitive advantage. These changes include altering the market focus, expanding product scope, partnering with other organizations, outsourcing manufacturing and modifying internal structure. Corporate strategies includes: (1) defining the corporate...
Words: 2952 - Pages: 12
...Week 1 TCOs A, B, C Marketing, Strategies, and Research Chapter 1: Defining Marketing for the 21st Century Chapter 2: Developing Marketing Strategies and Plans Chapter 4: Conducting Marketing Research and Forecasting Demand, pp. 88-105 A. Given information gathered through applied business research, develop a Marketing Plan for a product or service of your choice consistent with its position in the market. Understand how this Marketing Plan would fit into a complete Business Plan for the product or service. Key Concepts: Define marketing and how it evolved and why marketing is important to our society. Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals. How it evolved has 5 phases on page 2 of notes. 1. Production concept of marketing, 2. Product concept, 3. Promotion selling concept, 4. Marketing concept, 5. Holistic marketing. A social definition shows the role marketing plays in society; for example, one marketer has said that marketing’s role is to “deliver a higher standard of living.” Here is a social definition that serves our purpose: Marketing is a societal process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others. Explain the Marketing Concept as one of several company orientations towards the marketplace...
Words: 2360 - Pages: 10
...Marketing Management By Philip, Kevin Lane Keller, Abraham Koshy, Mithileshwar Jha logo copy.tif SUMMARY by Chapter 7 Analyzing Business Markets and Buyer Behavior Business buyers purchase goods and services to achieve specific goals, such as making money, reducing operating costs, and satisfying social or legal obligations. Therefore to provide superior customer value to the business buyers this chapter familiarizes you with the underlying dynamics and process of business buying. Blanket contract establishes a long-term relationship in which the supplier promises to resupply the buyer as needed at agreed-upon prices over a specified period. Because the seller holds the stock, blanket contracts are sometimes called stockless purchase plans. Product value analysis is an approach to cost reduction in which components are carefully studied to determine if they can be redesigned or standardized or made by cheaper methods of production. Organizational buying is the decisionmaking process by which organizations establish the need for purchased products and services and identify, evaluate, and choose among alternative brands and suppliers. The Business Market versus the Consumer Market • • • Fewer buyers: Business marketers normally deal with far fewer buyers than do consumer marketers. Larger buyers: Buyers for a few large firms do most of the purchasing in many industries. Close supplier customer relationship: Smaller customer base and importance of larger customers, suppliers...
Words: 1185 - Pages: 5
...Chapter Four Managing Marketing Information to Gain Customer Insights Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall Chapter 4- slide 1 Learning Objectives Topic Outline • • • • • • • Marketing Information and Customer Insights Assessing Marketing Information Needs Developing Marketing Information Marketing Research Analyzing Marketing Information Distributing and Using Marketing Information Other Marketing Information Considerations Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Chapter 4- slide 2 Marketing Information and Customer Insights Customer Insights are: • Fresh and deep insights into customers needs and wants • Difficult to obtain – Not obvious – Customer’s unsure of their behavior • Not derived from more information but better information and more effective use of existing information Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Chapter 4- slide 3 Marketing Information and Customer Insights Customer Insights • Companies are forming customer insights teams – Include all company functional areas – Use insights to create more value for their customers – Customer controlled could be a problem Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Chapter 4- slide 4 Marketing Information and Customer Insights Marketing Information Systems (MIS) Marketing information system (MIS) consists of people and procedures for: – – – Assessing the information needs Developing needed...
Words: 1517 - Pages: 7
...MARKETING MANAGEMENT - SUMMARIES PART 1 UNDERSTANDING MARKETING MANAGEMENT Chapter 1 – Defining marketing for the 21st Century 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. 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. Marketers are skilled at managing demand: they seek to influence its level, timing, and composition for goods, services, events, experiences, persons, places, proper- ties, organizations, information, and ideas. They also operate in four different marketplaces: consumer, business, global, and nonprofit. Marketing is not done only by the marketing department. It needs to affect every aspect of the customer experience. To create a strong marketing organization, marketers must think like executives in other departments, and executives in other departments must think more like marketers. Today’s marketplace is fundamentally different as a result of major societal forces that have resulted in many new consumer and company capabilities. These forces have created new opportunities and challenges and changed marketing management significantly as companies seek new ways to achieve marketing excellence. There are five competing...
Words: 7049 - Pages: 29
...researchandmarkets.com/reports/1797569/ Toothpaste Market in India to 2014 (Oral Hygiene) Description: Introduction Toothpaste Market in India to 2014 (Oral Hygiene) is a comprehensive resource for market and segment level data including value and volume from 2004 to 2014, and market/company shares for 2008-09.This report also provides data on expenditure and consumption as well as key distribution channels, and reveals the leading companies in the Indian toothpaste market. Features and Benefits - Identify key market segments by analyzing market size data (value & volume) for categories - Design business strategies by gaining insight into quantitative market trends over 2004-09 and expectations for 2010-14 - Identify key companies in the toothpaste market in India and design M&A strategies by analyzing market share data - Predict how consumer preferences will change in the future by analysis of expenditure and consumption information from 2004 to 2014 Highlights -The toothpaste market in India increased at a compound annual growth rate of 6.6% between 2004 and 2009. - The standard category led the toothpaste market in India in 2009, with a share of 91.5%. -Leading player in toothpaste market in India is Colgate-Palmolive Company. Key questions answered - Which will be the fastest growing segment within the toothpaste market in India? - How will the forecast growth differ from the historic growth exhibited by the toothpaste market in India? - Which company accounted for the largest...
Words: 1142 - Pages: 5
...Stutendt STUDENT GUIDE FOR WRITING A MARKETING PLAN 1. Executive Summary The Executive Summary “sells” the marketing plan to readers through its clarity and brevity. The summary should present a description of the product/service, its target market, and its need within the market. The summary should also provide an overview of the main points of the plan and should emphasize an action orientation. 2. Company Description The company description should highlight the recent history and successes of the organization. 3. Strategic Focus and Plan While not included in all marketing plans, the Strategic Focus and Plan sets the strategic direction for the entire organization. One approach is to use the strategic marketing process (see pp. 44-50 in the text) and/or diversification and synergy analyses (see pages 581-584). a. Mission/Vision The Mission/Vision statement is a qualitative statement that specifies the markets and product lines in which a business will compete. A mission statement can dramatically affect the range of a firm’s marketing activities by narrowing or broadening the competitive playing field. An effective mission statement must be clear and direct. See page 32 in the text. b. Goals The Goals section of a marketing plan sets both financial and non-financial targets. Goals should be in quantitative terms, where possible, to facilitate measuring the company’s future performance. See page 34 in the text. An example...
Words: 1392 - Pages: 6
