Conclusions
Like it or not, globalization is a reality
Cultural sensitivity is key to successful market entry
Consumers entering the global economy are learning and
negotiating how to be a part of this process.
MNCs have a moral and social responsibility that should
go beyond profitability when entering new markets.
While MNCs have knowledge of their products they also
have a lot to learn from emerging markets.
Important for MNCs to remember this two-way street to
marketing knowledge
Ride the Storm: Navigating Through Unstable Periods / Katerina Rudko (Belka G...
Marketing process - Segmenting, Targeting, Positioning and marketing concepts
1. MARKETING PROCESS
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2. The Marketing Process
Target
Consumers
Product
Place Price
Promotion
M
arketing
Im
plem
entation
M
arketing
Planning
M
arketing
Control
M
arketing
Analysis
Competitors
Marketing
Channels
PublicsSuppliers
Demographic-
Economic
Environment
Technological-
Natural
Environment
Political-
Legal
Environment
Social-
Cultural
Environment
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3. The Marketing Process
The strategic planning
and business portfolio
analysis processes help
to identify and evaluate
marketing
opportunities.
The purpose of the
marketing process is to
help the firm plan how
to capitalize on these
opportunities.
Analyzing marketing
opportunities
Selecting target markets
Developing the marketing
mix
Managing the marketing
effort
Key ElementsKey Elements
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4. The Marketing Process
The segmentation
process divides the total
market into market
segments.
Target marketing
determines which
segment(s) are pursued.
The market positioning
for the product is then
determined.
Analyzing marketing
opportunities
Selecting target markets
Developing the marketing
mix
Managing the marketing
effort
Key ElementsKey Elements
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5. The Marketing Process
Competitor analysis guides
competitive marketing
strategy development.
Strategy leads to tactics by
way of the marketing mix:
• The “Four Ps” – product,
price, place, promotion
(seller viewpoint)
• The “Four Cs” – customer
solution, cost,
convenience, and
communication (customer
viewpoint)
Analyzing marketing
opportunities
Selecting target markets
Developing the marketing
mix
Managing the marketing
effort
Key ElementsKey Elements
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6. The Marketing Process
Marketing analysis
• Provides information helpful
in planning, implementation,
and control
Marketing planning
• Strategies and tactics
Marketing implementation
• Turns plans into action
Marketing control
• Operating control
• Strategic control
• Marketing audit
Analyzing marketing
opportunities
Selecting target markets
Developing the marketing
mix
Managing the marketing
effort
Key ElementsKey Elements
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7. CONCEPTS OF MARKETING
Production Concept
Product Concept
Selling Concept
Marketing Concept
Customer concept
Societal Concept
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8. PRODUCTION CONCEPT
Consumer will prefer those products that
are widely available and inexpensive.
Focus on high production efficiency, low
costs & mass distribution.
Applicable to service sector also: Medical
& Dental practices.
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9. PRODUCT CONCEPT
Consumer will favor those products which
offer most quality, performance or
innovative features.
Focus on making of superior products.
GM’s executive said:- HOW CAN THE
PUBLIC KNOW WHAT KIND OF CAR
THEY WANT, UNTIL THEY SEE WHAT
IS AVAILABLE?
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10. SELLING CONCEPT
Consumers shows buying inertia or
resistance in buying.
Focus is aggressive selling & promotion
effort.
Happens with most of the products that
don’t get sold easily like:- insurance,
encyclopedias, funeral plots.
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11. MARKETING CONCEPT
Concept came in 1950s.
Instead of right customers for your product…
“RIGHT PRODUCTS FOR RIGHT CUSTOMERS”
Focus on :-Meeting need profitably, find wants and
fill them, love the customer not the product.
“YOU ARE THE BOSS” – UNITED AIRLINES
“PUTTING PEOPLE FIRST”- BRITISH AIRWAYS
“HAVE IT YOUR WAY”- BURGER KING
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12. FACTORY PRODUCTS SELLING & PROFITS THROUGH
PROMOTING SALES VOLUME
TARGET CUSTOMER INTEGRATED PROFITS THROUGH
MARKET NEEDS MARKETING CUSTOMER SATISFACTION
STARTING
POINT
FOCUS MEANS ENDS
(A) THE SELLING CONCEPT
(B) THE MARKETING CONCEPT
SELLING Vs MARKETING CONCEPT
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13. STARTING
POINT
FOCUS MEANS ENDS
THE CUSTOMER CONCEPT
INDIVIDUAL
CUSTOMER
CUSTOMER
NEEDS
& VALUES
1 TO 1 MARKETING
INTEGRATION
& VALUE
CHAIN
PROFITABLE GROWTH
THROUGH CAPTURING
CUSTOMER LOYALTY,
SHARE AND
LIFETIME VALUE
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14. SOCIETAL CONCEPT
Focuses on social & ethical considerations
in marketing practices.
E.g.:- FAST FOOD HAMBURGER
INDUSTRY
TASTY BUT UNHEALTHY, HIGH FAT CONTENT,
WRAPPED IN CONVIENIENT PACKAGE –LEADS TO
WASTE.
FINALLY, HURTS CONSUMER HEALTH & ALSO
CAUSES ENVIRONMENTAL PROBLEMS.
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15. Are MNCs good or harmful to a nation’s
culture? The case of McDonalds
McDonalds more than any company signifies the transnational
global company in today’s world.
Countries have varied in their acceptance of McDonalds
Considered to be harmful to existing eating customs
Also, considered to be a manifestation of ‘American Imperialism’
Critics of globalization call the ‘McDonald -dization’ of the world
a bad consequence of globalization.
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16. So is McDonald’s good or bad?
A group of cultural anthropologists studied countries in
Asia to assess the impact of McDonalds
The researchers found that meanings differ dramatically in
East Asia from the US as to what McDonalds really means
East Asians see McDonalds as a representation of America
The Chinese see it as a place to relax and socialize at,
rather than as a ‘fast food’ place.
Its also more expensive and upscale to eat at a McDonalds
rather than in the US.
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17. McDonalds in India
McDonalds radically altered its menu to enter India - no
beef or pork is served, only vegetable based foods and a
mutton burger - it is the only country in the world where
McDonald’s has deviated so widely from its standard
menu
When food confronts something so central to a culture -
religious beliefs in this case - Indian consumers have
chosen to ‘Indianize’ the food system
The McVeggie burger has now been introduced in NYC,
illustrating how the consumer in an emerging market can
affect the globalization process
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18. Conclusions
Like it or not, globalization is a reality
Cultural sensitivity is key to successful market entry
Consumers entering the global economy are learning and
negotiating how to be a part of this process.
MNCs have a moral and social responsibility that should
go beyond profitability when entering new markets.
While MNCs have knowledge of their products they also
have a lot to learn from emerging markets.
Important for MNCs to remember this two-way street to
marketing knowledge
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nearly all Windows platforms, if you can print from a windows application you can use pdfMachine.
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