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4 P’s and Small ‘m’ Marketing. Ted Mitchell. Big and Small ‘m’ Marketing. Big M marketing is Strategic Marketing Focus on Market Creation, goals and long term profits, organizational and competitive philosophy SBU/Portfolio management, large scale a llocation of resources

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big and small m marketing
Big and Small ‘m’ Marketing
  • Big M marketing is Strategic Marketing
    • Focus on Market Creation, goals and long term profits, organizational and competitive philosophy
    • SBU/Portfolio management, large scale allocation of resources
  • Small m marketing is Marketing Management
    • Focus on operational and short range objectives and tactics,
    • Segmentation, Targeting, Positioning
    • Managing the 4 Ps of Marketing to a targeted segment
    • Marketing Metrics for Management
4 p strategy includes choices about
4 P STRATEGY INCLUDES CHOICES ABOUT
  • TARGET MARKET and Positioning
  • PRODUCT and Services
  • PLACE and Supply Chain
  • PROMOTION and Relationship Building
  • PRICE and Revenue management
  • GOALS
  • OBJECTIVES and Metrics
  • CONTROL and Feedback
four p s of marketing management
Four P’s of Marketing Management
  • The Marketing Mix is
    • Price and Payment System
    • Product, Services and Solutions Delivered
    • Promotion, Communication and Relationship Management (include packaging, branding, sales force management
    • Place of Distribution, Logistics and Supply Chain Management
slide6

Controllable

Product

Place

Customer

Promotion

Price

slide7

Non-controllable

Variables

Demographics

Political

Social

Product

Place

Customer

Suppliers

Promotion

Price

Legal

Cultural

Technology

Competitors

uncontrollable
UNCONTROLLABLE
  • CONSUMER VALUES & TASTES
  • DEMOGRAPHICS
  • CULTURE AND SOCIAL INFLUENCES
  • COMPETITION
  • CHANNEL RELATIONSHIPS
  • INFLATION
  • UNEMPLOYMENT
  • GNP GROWTH
  • VALUE OF DOLLAR
  • PATENTS
  • RAW MATERIAL SHORTAGES
slide9

Blending of Variables

Non-controllable

Variables ???

Demographics

Political

Social

Product

Place

Customer

Suppliers

Promotion

Price

Legal

Cultural

Technology

Competitors

not included in the mix
Not Included in the Mix
  • Profit
  • Power
  • Politics
  • Policies
  • Production
  • Publics
  • Patents
the choice of target market implies
THE CHOICE OF TARGET MARKET IMPLIES
  • MEASURED DEMAND OF ALTERNATIVE SEGMENTS
    • SEGMENTED THE MASS MARKET
      • DID MARKET RESEARCH
        • STUDIED BUYER BEHAVIOR
          • ADOPTED A CUSTOMER ORIENTATION
product
PRODUCT
  • NEW PRODUCT DEVELOPMENT
  • PRODUCT LIFE CYCLE STRATEGIES
  • PRODUCT LINE MANAGEMENT
  • BRAND MANAGEMENT
  • COST OF PRODUCTS
  • FEATURES & QUALITY
  • WARRANTY
  • INSTALLATION
  • SERVICE ....
place
PLACE
  • CHANNEL DESIGN
  • VMS MANAGEMENT
  • LOGISTICS Supply Chain Management
  • RETAILING
  • COST OF DISTRIBUTION
  • MARKET EXPOSURE
  • PUSH OR PULL
promotion
PROMOTION
  • AUDIENCE RESPONSE BEHAVIOR
  • SALESFORCE MANAGEMENT
  • ADVERTISING MANAGEMENT
  • PUBLIC RELATIONS
  • PROMOTIONS & SPECIALS
  • TARGET AUDIENCE
  • OBJECTIVES
  • COST OF ADVERTISING
price
PRICE
  • DEMAND BASED
  • COST BASED
  • COMPETITIVE BASED
  • OBJECTIVES
  • POLICY ON LEVEL, FLEXIBILITY
  • DISCOUNTS & ALLOWANCES
  • LIFE CYCLE CHANGES
alternative business goals
Alternative Business GOALS
  • PROFIT
  • GROWTH
  • DIVERSIFICATION
  • LEADERSHIP
goals have two aspects
Goals Have Two Aspects

1 A Goal is a statement that tells us how to evaluate alternative strategies

2 We can choose which goals we wish to pursue. That is to say, a goal is also an element of choice.

objectives
Objectives

An objective is a statement that operationalizes your goals.

Objectives Tells Us What To Measure

Objectives Tells Us How Much Is To be Expected

objectives1
OBJECTIVES
  • IF THE GOAL IS PROFIT THEN OBJECTIVES MIGHT BE
    • 15% RETURN ON INVESTMENT
    • 20% RETURN ON SALES
    • $3.00 EARNINGS PER SHARE
    • 32% MARKET SHARE
  • Different Ways to measure Profit
  • Different Amounts of Profit To Be Expected
control
CONTROL
  • EVALUATE PROGRESS
    • are we achieving our objectives
  • FEED BACK SYSTEM
    • are the objectives and goals still appropriate
slide22
IF A MARKETING STRATEGY INCLUDES CHOICES ABOUT
  • TARGET MARKET
  • PRODUCT
  • PROMOTION
  • PRICE
  • GOALS
  • OBJECTIVES
  • CONTROL

THEN HOW MANY STRATEGIES ARE THERE?

slide24
TARGET MARKET
    • OLD VERSUS NEW
  • PRODUCT
    • HIGH VERSUS LOW QUALITY
  • PROMOTION
    • MASS ADV. VERSUS DIRECT MAIL
  • PRICE
    • HIGH VERSUS LOW PRICE
  • GOALS
    • PROFIT VERSUS GROWTH
  • OBJECTIVES
    • ROI VERSUS SALES
  • CONTROL
    • CENTRALIZED VERSUS LOCAL
how to explain what your doing
How to explain what your doing
  • To your customers
  • To your banker
  • To your employees
  • To your family
  • To your competitors
  • To your supplies
  • To your channel members
  • To your government
generic 4 p strategies
Generic 4 P strategies
  • Every day low prices
  • Easy to Buy, Easy Credit
  • Easy to Find, Convenient
  • High quality, High value
  • Biggest selection
  • Have it your way, mix and match
  • Fast delivery
  • Quality guaranteed
  • Satisfaction guaranteed
slide28

What is Big M and small m Marketing?

  • What are the 4 P’s of Marketing?
  • What types of choices are in a marketing mix strategy?
  • Why are profit and politics not elements of the marketing mix?