Assignment: Introduction to Marketing Management

Introduction to Marketing
Management
by Aung Chit Khin
MBA (Nottingham),
Dip M. PG Dip M (CIM)
Principal, Strategy First
Institute

Class Activity
•What is marketing? How Do You Think?
Discussion
Think about the two shop ( the first one is your favourite shop and you
keep always going there ) why?
The second one you think “Bad” and you recommend you friend not to
go there” why ?

Marketing is the management process responsible for
identifying, anticipating and satisfying customer requirements
profitably.
(Chartered Institute of Marketing)
Marketing Definition
Two fold goal of Marketing
(1) To attract potential customers by promising superior value
(2) To grow current customer by delivering value and satisfaction
Strategy First University – Shaping you for a
sustainable edge

Consumer
Business to Business
Business to Consumer
Seller ( Competitors)
•Direct Competitors (Strategic Competitors)
•Direct Competitors (Non Strategic
Competitors)
•Indirect Competitors
•Substitute Competitors
•Resource Sharing Competitors ( Eg. Intel)
Market
Market offering
Satisfaction

Expectations
Price &
Promotion
Experience
the 7Ps Mix
Perceived
Costs
Perceived
Benefits
Satisfaction
Manage both sides!
Promise just enough, deliver more.
Reduce perceived costs. Increase value.
Not just satisfy, delight customers for repeat purchase and recommendation.

Maslow’s Hierarchy of Needs
Needs- are states of felt deprivation.
Wants- are the form human needs take as
they are shaped by culture and individual
personality. (It can be changed)
Demands-are human wants that are backed
by buying power.
Needs, Wants and Demand

There is a myth which is customer needs can be
manipulated by powerful business interests.
If your products do not meet with customer needs
which will happen as shown in figure
Customer buy a drill because
they just want a quarter inch of
hole
In the factor we make cosmetic
But in the shop we sell hope

•Production Orientation
•Product Orientation
•Selling Orientation
•Marketing Orientation
•Societal Marketing
Business Philosophies