Session 3

Understanding Marketing Management

Chap 1 Company Orientations towards the marketplace The New Marketing Realities

Part 1:

MG 220 Marketing Management | BBA 2012 | Fall 2013

Muhammad Talha Salam, Asst. Professor talha.salam@nu.edu.pk

Company Orientations toward the marketplace

What are orientations (or concepts) toward the marketplace?

CLASS DISCUSSION: This discussion is important as it deviates

slightly from textbook and helps understand this critical concept

Company Orientations
Production Selling Product Marketing Holistic Marketing

MG 220 Marketing Management

Company Orientations toward the marketplace

The Production Concept

Consumers will favor products that are widely available & inexpensive Focus on Production Examples?

MG 220 Marketing Management

Company Orientations toward the marketplace

The Product Concept

Consumer will favor those products that offer the most quality, performance or innovation Focus entirely on Product development What if: not priced, distributed, advertised and sold properly? Examples?

MG 220 Marketing Management

Company Orientations toward the marketplace

The Selling Concept

Customers (consumers & businesses), if not engaged, will not buy enough Aggressive selling & promotion is required Practiced with unsought goods Examples?

MG 220 Marketing Management

Company Orientations toward the marketplace

The Marketing Concept

Replace product-centered make-and-sell with sense-and-respond Reactive market orientation Proactive market orientation Examples?

MG 220 Marketing Management

Company Orientations toward the marketplace

The Holistic Marketing Concept

Everything matters Based on the development, design and implementation of marketing programs, processes, and activities that recognizes their breadth and interdependencies 4 Components:
Relationship marketing | Integrated marketing Internal marketing | Social responsibility marketing / Performance Marketing

MG 220 Marketing Management

Company Orientations toward the marketplace

MG 220 Marketing Management

Company Orientations toward the marketplace

MG 220 Marketing Management

Company Orientations toward the marketplace

MG 220 Marketing Management

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Company Orientations toward the marketplace

MG 220 Marketing Management

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Company Orientations toward the marketplace

MG 220 Marketing Management

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The New Marketing Realities

How businesses are changing

The Marketplace isnt what it used to be

(Selected List*) General discussion from Pakistani perspective

Changing technology Information Age Globalization Deregulation & Privatization Industry convergence blurring boundaries (what is technology sector) Retail transformation Disintermediation new options to deliver Consumer Information Consumer Resistance consumers resist to marketing & advertising

* This is selected List For complete list, see book

MG 220 Marketing Management

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Marketing in Practice
Session 3 | Part - 1
Local company following holistic marketing
Qarshi Pakistans leading herbal products brand

Qarshi

Strategy review (Holistic marketing)

Internal marketing (taking employees on board / decisionmaking) Integrated marketing (following the 4Ps) Socially responsible marketing Relationship marketing (with customers / with channel partners) Centralized / personal decision-making

Downsides in strategy

OWN ACTIVITY: Visit www.qarshi.com Review different sections of the site to understand the company, its history, its brands and strategies FORM YOUR OWN OPINIONS