Welcome To Marketing Problems

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Welcome ToMarketing Problems
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What is Marketing ?

• A social and managerial process by which
  individuals and groups obtain what they need and
  want through creating and exchanging products and
  value with others. Armstrong Kotler

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Alternative Choices
Needs Wants
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How do You Choose?
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Consumer Choice Criteria

• Value
• Costs
• Perceived satisfaction

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Marketers Success Determinants

• Identifying right target market
• Providing right product
• Determining right price
• Promoting correctly
• Delivering at right place and time

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Which will be most successful?
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• Though the fundamental purpose of marketing is
  timeless, the manner in which organizations
  undertake it continues to evolve. Roger A.
  Kerin and Robert A. Peterson, Strategic marketing
  Problems, 2004

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Objectives of Course - Learn

• To make strategic marketing decisions
• To solve marketing problems effectively
• Apply a variety of analytical tools
• To justify marketing recommendations
• To develop creative marketing solutions
• To develop written and oral communication skills

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Objectives of Course Become a Marketing Manager
Who

• Develops implements marketing plans
• Develops organizational strategy

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What Comprises Strategic Marketing Management?

• Define organizations business, mission, goals
• Identify frame organizations growth
  opportunities
• Formulate product market strategies
• Budget marketing, financial, and production
  resources
• Reformulate and reevaluate strategic plans

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How Easy is Marketing To Do? Learn?
ACC FIN MHR MKT TOM CIS
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Why is Marketing so Hard To Do?

• CB Tricky To Predict
• CB Varies Based on Interaction of 4Ps
• Delayed Consumer Responses
• Competition Unpredictable
• Allocation Among Multiple Products
• Marketing Goals Vague or Nonexistent

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Why is Marketing so Hard to Do?
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Types of Marketing Mistakes

• Conservatism Complacency
• Reckless Growth
• No SCA
• Ignore Environment
• Wrong Target Market, Product, Price, Promotion,
  and/or Public Image

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Learn To Be Strategic Marketing Managers Through
Case Analysis

• Types of Case Analysis
• Evaluate the Solution(s) to a Problem
• Recommend Justify Solution(s) to Problem
• Determine Problem(s) Recommend Justify
  Solutions(s)

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Types of Case Analysis

• Evaluate the Solution(s) to a Problem
• Recommend Justify Solution(s) to Problem
• Determine Problem(s) Recommend Justify
  Solutions(s)

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Steps in Case Analysis

• Analyze Situation
• External Analysis Opportunities, Threats
• Internal Analysis Strengths, Weaknesses
• Identify Problem (s) / Decision (s)
• Determine Marketing Objectives
• Identify Alternatives
• Identify Decision Criteria Evaluate
  Alternatives
• Recommend Alternative Course of Action
• Provide Detailed Plan for Implementation