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Marketing Management

Discover your company's marketing effectiveness rating by evaluating key factors like customer philosophy, integrated marketing organization, adequate marketing information, strategic orientation, and operational efficiency.

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Marketing Management

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  1. Marketing Management What’s Your Marketing Effectiveness Rating?

  2. Can you define Marketing? • Marketing is the business function that • identifies unfulfilled needs and wants.

  3. Not to be confused with… • Advertising • Selling It is the art of identifying and understanding customer needs and creating solutions that deliver satisfaction to the customer and profits to the company.

  4. What’s your Marketing Effectiveness Rating? • Customer Philosophy • Integrated Marketing Organization • Adequate Marketing Information • Strategic Orientation • Operational Efficiency

  5. Customer Philosophy Do you recognize the importance of designing the company to serve the needs and wants of chosen markets? 0 We primarily think in terms of selling current and new products to whoever will buy them. • We think in terms of serving a wide range of markets and needs with equal effectiveness. • We think in terms of serving the needs of well defined markets chosen for their long term growth and profit potential

  6. Customer Philosophy 0 No • Somewhat • To a good extent Do you develop different offerings and marketing plans for different segments of the market?

  7. Customer Philosophy Do you take a whole marketing system view (suppliers, channels, competitors, customers, environment) in planning your business? 0 No We concentrate on selling and servicing immediate customers • Somewhat We take a long view of our channels although the bulk of our effort goes to selling and servicing immediate customers. • Yes We take a whole marketing systems view, recognizing the threats and opportunities created by changes in any part of the system.

  8. Integrated Marketing Organization Is there high level marketing integration and control of the major marketing functions. 0 No Sales and other marketing functions are not integrated at the top and there is some unproductive conflict. • Somewhat There is formal integration and control of marketing functions but less than satisfactory coordination and cooperation. • Yes The major marketing functions are effectively integrated.

  9. Integrated Marketing Organization Does marketing management work well with R & D, Manufacturing, Purchasing, Distribution and Finance? 0 No Marketing is unreasonable in the demands and costs it places on other departments. • Somewhat Relations are amicable although each area pretty much acts to serve it’s own best interests. • Yes Everyone cooperates effectively and resolves issues in the best interest of the company as a whole.

  10. Integrated Marketing Organization 0 The system is ill defined and poorly handled. • A formal system exists but lacks sophistication. • The system is well structured and has supporting resources. How well organized is the New Product process?

  11. Adequate Marketing Information 0 Several years ago • A couple of years ago • Recently When were the last formal marketing surveys of customers, buying influences, channels and competitors conducted?

  12. Adequate Marketing Information 0 Not at all • Somewhat • Very well How well do you know the sales potential and profitability of different market segments, customers, territories, products, channels and order sizes?

  13. Adequate Marketing Information 0 Little or none • Some effort • Substantial effort What effort is expended to measure the cost effectiveness of marketing expenditures?

  14. Strategic Orientation 0 Little or no formal marketing planning • We develop an annual marketing plan • We develop a detailed annual plan and a long range plan that is updated annually. What is the extent of formal marketing planning?

  15. Strategic Orientation 0 The current strategy is not clear • The current strategy is clear and represents a continuation of traditional strategy • The current strategy is clear, innovative, data based and well reasoned. What is the quality of the current marketing strategy?

  16. Strategic Orientation 0 We do little or no contingency thinking • We do some contingency thinking but little formal contingency planning • We formally identify the most important contingencies and develop plans What is the extent of contingency thinking and planning?

  17. Operational Efficiency 0 Poorly • Fairly well • Successfully How well is marketing thinking at the top communicated and implemented down the line?

  18. Operational Efficiency 0 No Marketing resources are inadequate for the job to be done. • Somewhat Marketing resources are adequate but not employed optimally • Yes Marketing resources are adequate and efficiently deployed Do we do an effective job with marketing resources?

  19. Operational Efficiency 0 No Sales and Marketing information is not very current and reaction time is slow • Somewhat We receive fairly up-to-date sales and marketing information; reaction time varies. • Yes We have systems in place to maintain current information and our reaction time is fast Do you show good capacity to react quickly and effectively to on-the-spot developments?

  20. Total Score • 0-5 None • 6-10 Poor • 11-15 Fair • 16-20 Good • 21-25 Very Good • 26-30 Superior

  21. How do I improve my score? • Plan and Execute a Marketing Audit • Review findings • Make decisions • Develop a Marketing Plan • Implement the Marketing Plan • Do it all again next year 

  22. Components of a Marketing Audit • Marketing Environment • Marketing Strategy • Marketing Organization • Marketing Systems • Marketing Productivity • Marketing Function

  23. I. Marketing Environment • Analyzes major forces and trends in the key components of the company’s task environment: • Markets • Customers • Competitors • Distributors/Dealers • Suppliers/Facilitators

  24. Marketing Strategy • Reviews the company’s marketing objectives and strategy to see how well these are adapted to the current and forecasted marketing environment

  25. Marketing Organization Evaluates the capability of your organization for implementing the necessary strategy to achieve your forecasted goals.

  26. Marketing Systems Assesses the quality of the company’s systems for analysis, planning and control.

  27. Marketing Productivity Examines the profitability of different marketing entities and the cost effectiveness of different marketing expenditures

  28. Marketing Function In depth evaluations of major marketing mix components such as: • Products • Price • Distribution • Sales force • Advertising • Promotion • Publicity

  29. The Macroenvironment • Demographics • Economic • Ecological • Technological • Political • Cultural

  30. Demographics • What major demographic developments and trends pose opportunities or threats to your company? • What actions has the company taken in response to these developments and trends?

  31. Economic • What major developments in income, prices, savings and credit will affect the company? • What actions has the company been taking in response to these developments?

  32. Ecological • What is the outlook for the cost and availability of natural resources and energy needed by the company? • What concerns have been expressed about the company’s role in pollution and conservation and what steps have been taken?

  33. Technological • What major changes are occurring in product technology? In process technology? What is the company’s position in these technologies? • What major substitutes might replace current products?

  34. Political • What laws are being proposed that could affect marketing strategy and tactics? • What federal, state, and local actions should be watched? What is happening in the areas of pollution control, product safety, advertising, price control, etc that affects marketing strategy?

  35. Cultural • What is the public’s attitude toward business and toward the products produced or distributed by the company? • What changes in consumer and business lifestyles and values have a bearing on the company?

  36. The Task Environment • Markets • Customers • Competitors • Distribution and Dealers • Suppliers • Facilitators and Marketing Firms • Publics

  37. Markets • What is happening to market size, growth, geographical distribution and profits? • What are the major market segments?

  38. Customers • How do customers and prospects rate the company and its competitors on reputation, product quality, service, salesforce and price? • How do different customer segments make their buying decisions?

  39. Competitors • Who are the major competitors? What are their objectives and strategies, their strengths and weaknesses, their sizes and market shares? • What trends will affect future competition and substitutes for current products?

  40. Distribution and Dealers • What are the main trade channels for bringing products to customers? • What are the efficiency levels and growth potentials of the different trade channels?

  41. Suppliers • What is the outlook for the availability of key resources used in production? • What trends are occurring among suppliers in their pattern of selling?

  42. Facilitators and Marketing Firms • What is the cost and availability outlook for transportation services? • What is the cost and availability outlook for warehousing facilities? • What is the cost and availability outlook for financial resources? • How effective are the company’s advertising and market research firms?

  43. Publics • What publics represent particular opportunities or problems for the company? • What steps has the company taken to deal effectively with each public?

  44. II. Marketing Strategy • Business Mission • Marketing Objectives and Goals • Strategy

  45. Business Mission • Is the business mission clearly stated in market oriented terms? • Is it feasible?

  46. Marketing Objectives & Goals • Are the corporate and marketing objectives stated in the form of clear goals to guide marketing planning and performance measurement? • Are the marketing objectives appropriate, given the company’s competitive position, resources and opportunities?

  47. Strategy • Is management able to articulate a clear marketing strategy for achieving its marketing objectives? • Is the strategy convincing? • Is the strategy appropriate to the stage of the product life cycle, competitors’ strategies, and the state of the economy?

  48. Strategy • Is the company using the best basis for market segmentation? • Does it have sound criteria for rating the segments and choosing the best ones? • Has it developed accurate profiles of each target segment?

  49. Strategy • Has the company developed a sound positioning and marketing mix for each target segment? • Are marketing resources allocated optimally to major elements of the marketing mix – product quality, service, salesforce, advertising, promotion and distribution?

  50. Strategy • Are enough resources or too many resources budgeted to accomplish the marketing objectives?

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