Marketing Management Essay Example

Marketing Management Essay | You are here: * Home * Business * Small Business Information * Marketing * Marketing management Marketing/Marketing management Advertisement Expert:  Leo Lingham   10/7/2009 Question Sir could you please answer the following two questions for me? I need your help in answering these. PLease reply me as soon as possible. 1. Marketing management an artistic exercise and therefore highly subjective versus marketing management is largely a scientific excercise with well established guidelines and criteria 2. How does cause or corporate societal marketing affect consumers personal behavior? Clarify in context to the products and services you are using or planning to purchase. Answer SARA, HERE IS   SOME USEFUL   MATERIAL. REGARDS LEO LINGHAM ========================================= 1. Marketing management an artistic exercise and therefore highly subjective versus marketing management is largely a scientific excercise with well established guidelines and criteria MARKETING   MANAGEMENT   IS   A   SCIENTIFIC EXERCISE   WITH   ESTABLISHED GUIDELINES/ OBJECTIVES. SCOPE   Ã‚  OF   MARKETING   MANAGEMENT Establish   , direct, administer   and   coordinate the   overall product marketing programs   Ã‚  for   all   Ã‚  Products.. Strategically   plan for, develop   and profitably penetrate   the   markets to which   the   products, services   and   capabilities   of   the   company   can be directed. These   activities   include -studying economic indicators -tracking   changes in   supply   and   demand -identifying customers   and   their   current   and   future needs -monitoring the competition. ========================================================= THIS SCOPE   IS   Ã‚  THE RESULT   OF THE   FOLLOWING: * Analysis * Discussion * judgement Illustration * Decision ON   THESE   Ã‚  ELEMENTS. External Analysis 1. Customer Analysis Segments Motivations Unmet Needs 2. Competitor Analysis Identify Performance Image Objectives Strategies Strengths Weaknesses 3. Market Analysis Size Projected Growth Entry Barriers D istribution System Trends Key Success factors 4. Environmental Analysis Technology Government Regulations Economic Trend I A. Opportunities B. Threats C. Trends D. Others Customer/Market Segment Analysis SEGMENTATION Biggest Customers/Market Segments Profitable ones/Attractive Potential We will write a custom essay sample on Marketing Management specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Marketing Management specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Marketing Management specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Needs Buying Characteristics CONSIDER THE VARIABLES 1) Benefits sought 2) Usagelevel 3) Application 4) Organisational type 5) Geographic location 6) Customer loyalty 7) Price sensitivity 8) Competition MOTIVATION What elements of the product/service do the Customers/segments value most? What are their objectives? What are they really buying? What are their priorities? What changes are taking place? UNMET NEEDS Why are some customers/segments dissatisfied? Why are some changing brands or suppliers? What are some unmet needs they can identify? What are some unmet needs they are unaware of? Competition Analysis WHO ARE THE COMPETITORS? †¢ Against whom do we usually compete? †¢ Who are our most intense competitors? †¢ Who are our less intense but still serious competitors? †¢ What are the substitute products? †¢ Can these competitors be grouped on the basis of their products or strategies? †¢ Are there any potential competitive entrants? EVALUATING THE COMPETITORS †¢ What are their strategies? Their level of commitment? Do they have a significant advantage or disadvantage? †¢ What is their image/positioning strategy? †¢ Which are the most successful/unsuccessful competitors? Why? What are their strengths/weaknesses? †¢ What are their leverage points? Structure of the Segment/Customer 1. SIZE AND GROWTH †¢ What are their size and growth characteristics? †¢ What are the driving forces behind their sales trends? 2. POTENTIAL AND PROFITABILITY †¢ How intense is the competition among existing suppliers? †¢ What is the threat from potential entrants? †¢ What is the bargaining power of suppliers? †¢ What is the bargaining power of buyers? †¢ How difficult is selling into these accounts or segments? 3. PRICE †¢ What are the value added components for various types of competitors? . DISTRIBUTION †¢ What are the alternative ways of servicing this segment or account? 5. TRENDS †¢ What are the trends in this segment/customer? 6. KEY SUCCESS FACTORS †¢ What are the key success factors needed to compete successfully? Environmental Analysis 1. TECHNOLOGY †¢What technological development or trends are affecting or could affect the segment/customer? †¢To what extent are existing technologies maturing? 2. GOVERNMENT †¢What changes in regulations are possible? †¢What will their impact be? 3. ECONOMICS †¢What are economic prospects and inflation in which the segment/customer operates? How will they affect strategy? 4. GENERAL TRENDS †¢ What are the significant trends/future events? †¢What threats and opportunities do you see? †¢What are the areas of uncertainty? †¢What is the impact of these on your strategy? Internal Analysis 1. Performance Analysis †¢ Sales †¢ Profitability †¢ Product Quality †¢ Customer Satisfaction †¢ Cost †¢ Product Performance 2. Determinants of Strategic Options †¢ Past Strategy †¢ Current Strategy †¢ Strategic Problems †¢ Organisational capabilities and Constraints †¢ Strengths †¢ Weaknesses A. Strengths B. Weaknesses C. Problems D. Constraints E. Others OPPORTUNITIES What to look for New Market Segments New Customer More sales in the current customers New end uses New / modified products New geographical locations Displacing competition Others: THREATS What to look f or Competition Declining Market Reduction in the No. s of customers Others UNCERTAINTIES What to look for Demand Legislation Availability †¢ Technical Development (Product) †¢ Financial Resource †¢ Pricing / G. P. †¢ Customer Satisfaction / Buying Policies †¢ Others OBSTACLES What to look for Sales Representation Production /Raw Materials Sourcing Distribution Inadequate Promotion Support †¢ Inventory Customer Service †¢ Others Sustainable Competitive Advantage, What are they? 1 . Reputation 2. Quality 3. Customer Service 4. Product Support 5. Productline depth? 6. Productline breadth? 7. Technical superiority 8. Customer base 9. Market share 10. Size 11. Distribution 12. Adaptable operation 13. Sales force network 14. Powerful wellknown parent comp any 15. Good engineering 16. Distributor support 17. Customer oriented 18. Continued product innovation 19. Product convenience 20. Financial package THE OUTCOME   OF   THESE ANALYSES AND   DECISIONS : . Corporate   VISION 2. Corporate   Mission 3. Corporate   Objective 4. Corporate   Strategy 5. Corporate   Organization   Policy/ Budget   Guidelines. 6. Corporate   MARKETING   Ã‚  objective/ strategy 7. Corporate   Sales   forecasts USING   THE   ABOVE   FOUNDATION, THE   MARKETING DEPARTMENT DEVELOPS MARKETING OBJECTIVES. MARKETING   Ã‚  MANAGEMENT   Ã‚  Ã‚  HAVE OBJECTIVES. THE   MARKETING   OBJECTIVES   ARE   SCIENTIFICALLY   DERIVED. FIRST PRIME   OBJECTIVE   Ã‚  OF   MARKETING -is   to   support   and   help the   organization   to   achieve   the   CORPORATE   OBJECTIVES. - SECOND   OBJECTIVE -THE   SECOND   IMPORTANT   OBJECTIVE   OF   MARKETING   is   to   enable   the   Ã‚     organization   survive and   prosper   through meeting   needs   and   wants   of   customers   by matching   a   companys capabilities   with customer   needs / wants. THIRD   OBJECTIVE -to   provide   an agreed. consistent   and   well   directed   target   range   of volume for   all   departmental   functions,   which will   help   them   to   streamline their   activities for   the   period. *finance *manufacturing/ production *human   resource tc etc - FOURTH   OBJECTIVE -to provide   the   marketing department   a   tool to   Ã‚  plan and   manage   its   activities,   THROUGH   Ã‚  MARKETING   PLAN. FIFTH   OBJECTIVE -TO   provide   a   stretch   points   Ã‚  for   setting   sub-objectives /planning/   strategies for   Ã‚  MARKETING   Ã‚  DEPARTMENT. *market   share   target. *competitive   standing   target. *customer   awareness   target.. *cu stomer   retention   target *new   products   target SIXTH   OBJECTIVE -to   provide   a   method devised   to achieve   the   objectives in   the   promotion MIX. SEVENTH   Ã‚  Ã‚  Ã‚  OBJECTIVE -TO   provide   a   stretch   points   Ã‚  for   setting   sub-objectives /planning/   strategies for   SALES   MANAGEMENT *product   coverage. *customer coverage. *geographical   Ã‚  area   coverage. etc - EIGHTH   OBJECTIVE -TO   provide   a   stretch   points   Ã‚  for   setting   sub-objectives /planning/   strategies for   Ã‚  Ã‚  DISTRIBUTION   MANAGEMENT *distribution   penetration   target. NINTH   Ã‚  OBJECTIVE -TO   provide   a   stretch   points   Ã‚  for   setting   sub-objectives /planning/   strategies for   CUSTOMER   Ã‚  SERVICE   Ã‚  MANAGEMENT *customer   satisfaction   level. TENTH   Ã‚  OBJECTIVE -TO   provide   a   stretch   points   Ã‚  for   setting   sub-objectives /planning/   strategies for   OVER ALL   Ã‚  CONTROL   Ã‚  THROUGH   Ã‚  RESEARCH. *consumer   research. *customer   satisfaction surveys. *internal   operation   research. *distribution   study *marketing research etc etc ============================================== THE   MARKETING OBJECTIVES   ARE BASED ON   THE SCIENTIFIC   DATA   PROVIDED   BY -consumer   research   data -market   research   data -market   surveys -market   analysis -competitors   analysis -product   analysis -product   test   analysis -product   plans -test   market   results -market strategy   Ã‚  analysis -sales   analysis -distribution   analysis -media   analysis -promotion analysis -customer satisfaction   Ã‚  survey -retail audit   data -marketing   auditing   data -market   forecast -sales   forecast -sales   planning   data -distribution   planning -customer   analysis -market   segment   analysis consumer [   socio/economic /demographic/psychograph ic]   data ETC   ETC. ================================================== FROM THE   CORPORATE   MARKETING OBJECTIVES AND GUIDELINES,   WE   DEVELOP   THE MARKETING   PLAN. 1. EXECUTIVE   SUMMARY 2. SITUATION   ANALYSISMARKET   ANALYSIS -market   needs -market trends -market   potential and   growth -market characteristics -market   segments etc 3. SITUATION ANALYSISCOMPANY   ANALYSIS -strengths -weaknesses 4. BUSINESS   ENVIRONMENT -political -economic -social -technology -opportunities -threats -competition -services -keys to success -critical   issues -channels 5. MARKETING   STRATEGIES marketing   objectives -financial   objectives -target   marketing -positioning -marketing strategy 6. MARKETING   MIX -products -pricing -promotion -distribution -channels -marketing   research 7. SALES   PLANS 8. FINANCE -sales forecast -expense   forecast -contribution   margin. 9. IMPLEMENTATION   Ã‚  PLANS -milestones -time   schedule 1 0. MARKETING   /   SALES   ORGANIZATION 11. CONTROL   SYSTEM -time   schedule -action   plan. 12. CONTINGENCY   Ã‚  PLANNING. ======================================= NOW   WE   CAN SEE   THAT, Marketing management is   not an artistic exercise and   highly subjective, BUT   IT IS AN EXERCISE   OF scientific   analysis   of   data. -scientifically   tested objectives, which   are achieveable with   a   well planned   programs. ############################################## 2. How does cause or corporate societal marketing affect consumers personal behavior? Clarify in context to the products and services you are using or planning to purchase. The societal marketing concept is an enlightened marketing that holds that a company should make good marketing decisions by considering consumers wants, the companys requirements and societys long run interests. It is closely linked with the principles of Corporate Social Responsibility and of Sustainable Development. The concept has an emphasis on social responsibility and suggests that it is not sufficient for a company to only focus on exchange relationship with customers might not be in order to sustain long term success. Marketing strategy rather should deliver value to customers in a way that maintains or improves both the consumers and the societys well-being. Most companies recognize that socially responsible activities improve their image among customers, stockholders, the financial community, and other relevant publics. Ethical and socially responsible practices are simply good business, resulting not only in favorable image, but ultimately in increased sales. ===================== For example   IN   SOCIETAL   MARKETING. †¢Proctor ; Gamble Pakistan has introduced the brand of fat free oil to prevent the growing ratio of heart disease. ============================================= †¢Various automobile manufacturers are focusing more on producing CNG cars that is not only environmental friendly but it is also very economical. So this trend is getting popular very quickly. One can verify it by observing the increasing number of CNG stations. ========================================================== †¢There are various companies that are favoring the use of recycled paper to aid more life to trees. ================================================== *McDonalds   Environmentalism Throughout the late 1980s, McDonalds instituted and publicized a number of environmentally positive steps in its domestic operations. It reduced consumption, for instance, by using lighter weight paper in straws, paper bags and other items and recycled paper and cardboard packaging. In 1987, it switched from polystyrene (used for the clamshells) blown with CFCs, the family of chemicals which destroy the ozone layer, to plastic foam that used hydrocarbon blowing agents (Annual Report, 1989, pp. 10-15). In 1989, the company instituted a pilot program in 450 New England stores to recycle its plastic clamshells (Livesey, 1993, pp. 12-14). In April, 1990, it committed $100 million, or one quarter of the companys annual building and remodeling budget, to buy recycled materials for restaurant construction, remodeling, and operations under a program called McRecycle (Livesey, 1993, pp. 13-14). ============================================================ *ADIDAS has embarked on a number of projects , all community based. -better pay for local workers in the under-developed countries. -avoiding under-age employees. -support for local community sports. -offer of free sports gears for talents. -sports events sponsorship. -supporting the construction of sports grounds. -chea per brands for selected countries etc etc. ======================================= *COCA COLA has programs for -local water supply -community developments like sports etc etc etc ===================================== *McDONALDS have programs for local school sports support -scholarships for talents etc etc ============================ While some businesses view corporate social responsibilty (CSR) as an image enhancement tool with no tangible benefits, many organisations are increasingly concerned about managing social issues to benefit stakeholder interests. In todays increasingly competitive and changing marketplace CSR can become a competitive advantage. Specifically, consumers’ perceptions of a firm’s corporate social responsibility have been shown to influence their attitudes toward a company , particularly when committing to a purchase. CSR is reflected in practice by   businesses adopting a societal marketing focus. Societal marketing has been shown to have a positive impact on consumer attitudes and behaviour in various countries . Indeed many companies attribute societal marketing as a major success factor . Societal marketing as a business philosophy can be implemented in many ways including concern for the environment, employee schemes and involvment in specific social causes or cause related marketing. Corporate Social Responsibility and Societal Marketing While there is no widely accepted definition of corporate social responsibility (CSR), the World Business Council for Sustainable Development (WBCSD) defines CSR as ‘the commitment of business to contribute to sustainable economic development, working with employees, their families, the local community and society at large to improve quality of life’ (WBSCD, 2000). Hence, CSR is the voluntary adoption by companies of responsibilities beyond purely economic or legal responsibilities . The societal marketing concept introduces corporate social responsibility (CSR) into marketing practices. Societal marketing incorporates a focus on the consumer’s and society’s well-being . Research executed in many countries has consistently shown that consumers express a more positive attitude toward a company that practices societal marketing, and additionally prefer to purchase the products of these companies . Corporate Image Various definitions of corporate image exist. Corporate image is sometimes seen as synonymous with corporate reputation or as different to corporate reputation but interrelated. Part of the confusion results from the various uses of the term ‘corporate image’ by both practitioners and academics to the extent that corporate image and corporate identity are often used interchangeably and imprecisely . Corporate image is the net result of the interaction of a person’s beliefs, ideas, feelings and impressions about a company and exists in the mind of that person . Corporate image is the totality of a stakeholder’s perceptions of the way an organisation presents itself, either deliberately by controllable sources or accidentally by uncontrollable sources. Over the last three decades, several models of corporate image formation have been developed by various authors . These models propose various factors effecting corporate image formatiot. The results of these studies provide the foundation for model development. Consumers’ attitudes towards corporate image is influenced by three key factors: corporate marketing communications in general, the specific features of the societal marketing program implemented by the company, and consumer demographics. There are three types of corporate marketing communications: primary, secondary and tertiary. Primary communication refers to communication directly to or with a consumer or initiated by a consumer including direct interaction with a staff member, attendance at corporate seminars or events and visiting a compnaies website. Secondary communication is identified as a system for visual identification and formal corporate communications, for example through advertising, public relations, graphic design and sales promotion. Typically secondary communication is mass communication. Tertiary communication refers to word-of-mouth and Societal marketing program O Program symbolism O Behaviour O Program communications Demographic characteristics O Gender O Age O Education level O Income level O Marital status Consumers’ attitude   towards corporate image Corporate marketing communications (general) O Primary communications O Secondary communications O Tertiary communications ====================================================== OF   Ã‚  COURSE,   AS   AN   USER   Ã‚  OF 1. McDONALD   FAST   FOOD, -I admire   their   hygiene   Ã‚  approach. -their   contribution to   the   community   school support   program. 2. ADDIDAS -their   contribution to the   local   community   sports development. ###################################################### Add to this Answer * Ask a Question Related Articles * Writing a Business Plan Market Analysis * Product#39;s Ready! Now What? 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It can also be defined as the combination of all technical and administrative actions, including supervision actions, intended to retain an item in, or restore it to, a state in which it can perform a required function Maintenance Management All the activities of the management that determine the maintenance objectives or priorities (defined as targets assigned and accepted by the management and maintenance department), strategies (defined as a management method in order to achieve maintenance objectives), and responsibilities and implement them by means such as maintenance planning, maintenance control and supervision, and several improving methods including economical aspects in the organization. The term ‘maintenance’ means to keep the equipment in operational condition or repair it to its operational mode. Main objective of the maintenance is to have increased availability of production systems, with increased safety and optimized cost. Maintenance management involves managing the functions of maintenance. Maintaining equipment in the field has been a challenging task since the beginning of industrial revolution. Since then, a significant of progress has been made to maintain equipment effectively in the field. As the engineering equipment becomes sophisticated and expensive to produce and maintain, maintenance management has to face even more challenging situations to maintain effectively such equipments in industrial environment. We will write a custom essay sample on Marketing management specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Marketing management specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Marketing management specifically for you FOR ONLY $16.38 $13.9/page Hire Writer This brief lecture on maintenance management includes maintenance strategies, functions of maintenance department, maintenance organization and elements of maintenance management. MAINTENANCE STRATEGIES OR OPTIONS A maintenance strategy or option means a scheme for maintenance, i. e. an elaborate and systematic plan of maintenance action. Following are the maintenance strategies [1] that are commonly applied in the plants. * Breakdown Maintenance or Operate to Failure or Unplanned Maintenance * Preventive or Scheduled Maintenance * Predictive or Condition Based Maintenance Opportunity Maintenance * Design out Maintenance The equipment under breakdown maintenance is allowed to run until it breaks down and then repairing it and putting back to operation. This strategy is suitable for equipments that are not critical and have spare capacity or redundancy available. In preventive or scheduled Maintenance, maintenance actions such as inspection, lubrication, cleaning, adjustment and repla cement are undertaken at fixed intervals of numbers of hours or Kilometers. An effective PM program does help in avoidance of accidents. Condition monitoring (CM) detects and diagnoses faults and it helps in planned maintenance based on equipment condition. This condition based maintenance strategy or predictive maintenance is preferred for critical systems and for such systems breakdown maintenance is to be avoided. A number of CM techniques such as vibration, temperature, oil analysis, etc. have been developed, which guide the users in planned maintenance [2]. In opportunity maintenance, timing of maintenance is determined by the procedure adopted for some other item in the same unit or plant. In design out maintenance, the aim is to minimize the effect of failures and in fact eliminates the cause of maintenance. Although it is an engineering design problem, yet it is often a responsibility of maintenance department. This is opted for items of high maintenance cost that are due to poor maintenance, poor design or poor design outside design specifications. It may be mentioned that a best maintenance strategy for each item should be selected by considering its maintenance characteristics, cost and safety. In addition to the above, new strategies concepts such as Proactive Maintenance, Reliability Centred Maintenance (RCM), Total Productive Maintenance (TPM), etc. have recently been evolved to look it from different perspectives and this has helped in developing effective maintenance. In proactive maintenance, the aim is identify what can go wrong, i. e. by monitoring of parameters that can cause failures. In RCM, the type of maintenance is chosen with reliability of the system in consideration, i. e. system functions, failures relating to those functions and effects of the dominant functional system failures. This strategy in the beginning was applied to critical systems such as aircrafts, nuclear and space applications. At present, this is being extended to critical systems in the plant. TPM, a Japanese concept, involves total participation of all concerned. The aim is to have overall effectiveness of the equipment with participation of all concerned using productive maintenance system. FUNTIONS OF A MAINTENANCE DEPARTMENT Following are the major functions of a maintenance department [3-4]: * Maintenance of installed equipment and facilities * Installations of new equipment and facilities PM tasks – Inspection and lubrication of existing equipment * CM tasks – monitoring of faults and failures using appropriate techniques * Modifications of already installed equipment and facilities * Management of inventory * Supervision of manpower * Keeping records MAINTENANCE ORGANIZATION It concerns in achieving an optimum balance between plant availability and maintenance resource uti lization. The two organization structures that are common are: Centralized and Decentralized. A decentralized structure would probably experience a lower utilization than centralized one but would be ble to respond quickly to breakdowns and would achieve higher plant availability. In practice, one may have a mix of these two. A maintenance organization can be considered as being made up three necessary and interdependent components. 1. Resources: men, spares and tools 2. Administration: a hierarchy of authority and responsibility for deciding what, when and how work should be carried out. 3. Work Planning and Control System: a mechanism for planning and scheduling the work and feeding back the information that is needed for correctly directing the maintenance effort towards defined objective. It may be mentioned that maintenance / production system is a continuously evolving organism in which the maintenance organization will need continuous modifications in response to changing requirements. Moreover, it is required to match the resources to workload. Maintenance activities – be it preventive or condition monitoring, involve use of resources- men and materials including documents. This requires coordination amongst the involved personnel so that these are timely undertaken. Work planning and control system under maintenance management in the plant ensures this and provides planning and control of activities associated with maintenance. This means application of general management principles of planning, organizing, directing and controlling to the maintenance functions, e. g. to the establishment of procedures for development of maintenance strategy and to models for describing the flow of work through maintenance work planning department. Control system controls the maintenance cost and plant condition. ELEMENTS OF EFFECTIVE MAINTENANCE MANAGEMENT An effective maintenance system includes the following elements [3-4]: * Maintenance Policy * Control of materials * Preventive Maintenance * Condition Monitoring * Work Order * Job planning * Priority and backlog control * Data recording system * Performance measurement measures or indices Maintenance performance for a plant or an organization can be assessed through analysis of Reliability, Availability and Maintainability (RAM) plant data. Relevant parameters, measures or indices for specific plants can be identified [5]. The performance over a period of time will show if it is improving, going down or being sustained. This will also help in knowing how well the objectives are being met. In addition, it will guide the areas which are strong and which need to be strengthened. Use of computers and dedicated software will certainly help in implementing this and the maintenance management system in general. CONCLUSION The above lecture has briefly focused on the various aspects of maintenance management. Maintenance is expected to play even much bigger role in years to follow, as industries worldwide are going through an increasing and stiff competition and increased automation of plants. The down time cost for such systems is expected to be very high. To meet these challenges, maintenance has to use latest technology and management skills in all spheres of activities to perform its effective role in profitability of the company.