- Marketing is a dynamic study that is in a constant state of evolution.
- Our study of Marketing Management will focus on
- the process of analyzing
- planning
- implementing
- and controlling marketing practice
- The overiding purpose of these activities is to establish a competitive advantage
- via cost leadership for "management firms"
- via differentiation for "marketing firms"
- Since Marketing is an active influence on behavior our study will be outcome oriented
- Why do we want to avoid perfect competition?
- Why is price alone a poor competitive variable?
- The Marketing Demand function
- assumed objective - increase consumption
- assumed objective - decrease demand (Demarketing)
- the controllables - 4 P's - endogenous influence
- the uncontrollables - exogenous influences
- Demand as a "pie size" and "wedge size" model
- conditions necessary to increase absolute sales and still fail in your marketing task
- conditions necessary to achieve constant/decreasing unit sales and excell in your marketing task
- conceptual foundations for the above - basic demand notion, PLC, environmental change
- Corporate strategy is driven from the top down
- deciding on what business to be in
- the Maytag video
- evidence of pie/wedge structure
- portifolios - cash cows
- Admiral vs Maytag philosphy
- Maytag's newly discovered role of advertising/marketing
- evidence of mission driven planning
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