Success Biotech Ventures Sdn Bhd

Marketing –level 2

definition

A) Definition of Marketing

Classical Definition

The performance of business activities that direct the flow of goods and services from producer to

customer/user.

CD place too much emphasis on distribution

activities and economics goods.

Marketing includes

•To do customer research, in order to develop and introduce offerings desired by customers.

Anticipation of demand

•Includes stimulation, facilitation, and regulation tasks.

Management of demand

•Involves any factors in order to fulfill customer’s expectations.•Such as product availability, perception of safety, after sale-service.

Satisfaction of demand

Demand is affected by both customers and publics. Custome

r demand

•The characteristics and needs of final customers, industrial customers, wholesalers, and retailers, gov institutions, international markets and non-profit institutions.

Public’s demand

• The characteristics and needs of employees, unions, stockholders, consumer groups, the general public, gov agencies and other internal and external forces that affect company operations.

The view of marketing’s evolution in an industry, country, or region of the world as sequence of stages;

B)The evolution of Marketing

How marketing EvolvesB.E •Self-sufficiency

•Basic one- 0n-one trading

P.E •Demand exceeds supply•Output expanded

S.E •Supply equals demand•Selling process important

M.D.E •Supply exceeds demand•Marketing are subsidiary function

M.C.E •Supply exceeds demand•Integrated, comprehensive role for marketing

The marketing concept is only a guide to planning. It enables an organi-zation to analyze, maximize and satisfy consumer demand. The three elements of marketing concept are to ultimate success of a good, service, organization, people, place or idea.

Marketing goals may involve profits as well as other objectives.

Marketing plans need to balance;-goals -customer needs -resources capability.

marketing must be evaluated with the external forces(e.g: gov regulations,the impact of competition).

Marketing

The focus on selling and marketing

Selling

Production selling consumption

Consumer need

evaluation

Integrated marketing

effort

Consumer satisfaction

Achievement of

organizational Goals

feedback

Customer ServiceIf people are dissatisfied with the customer service they receive, they may not become regular customer to a firm.

Customer’s Satisfaction with ; 1-the basic good/service (takaful for muslim choice instead of insurance, koko radix instead of milo) 2- Quality of customer service (polite/on time appointment.

For them, Excellent service is important to purchase goods, than the low price.

To offer better customer service, some firms are empowering employees.Many companies spend a large amount to conduct customer satisfaction. ( promise for compensation)

STRATEGIC PLANNING & MARKETING Marketing Plans can be categorized

by duration, scope and method of dev.

MPs may be… short run (typically 1y) Moderate in legth( 2-5y), or Long run (5 to 10/15y)

The Strategic Planning Process

1.Defining Organizational Mission OM= a long commitment to a type of

business and a place in the market.

It ‘describes the scope of the firm and the dominant emphasis and value,’

Based on that firm’s history, current management preferences, resources and distinctive competences and on environmental factors.

2.Establishing Strategic Business Units SBUs are separate operating units in

an organization.

SBU is a self-contain division , product line, or product department within an organization with a specific market focus and a manager with the complete responsibility for integrating all functions into strategy.

3.Setting marketing objectives Marketing Objectives frequently

encompass quantitative (eg; RM sales, percentage

profits growth, market share, etc.) and qualitative (image, level of innovativeness, industry leadership role , etc)

measures.

4. Performing situation analysis Situation Analysis investigates a firm’s

SWOT. Strengths Weaknesses Opportunities Threats

5.Developing marketing Strategy A Marketing Strategy outlines the

way in which the marketing mix is used to attract and satisfy the target market(s) and achieve an organization’s objectives.

Marketing mix decisions center on Product, Distribution, Promotion , and Price Plans.

A separate strategy is necessary for each SBU in an organization; these strategies must be coordinated.

…Developing marketing Strategy A good marketing strategy provides a

framework for marketing activities.In planning marketing strategies, a firm should consider

4 key factors for each SBU:

1. Organizational situation -what are the firm’s objectives, capabilities, and resources?

2. Product-market situation -is the product category relatively new to the marketplace, growing, mature, or declining? what are the current size and expected future growth rate of the product category?

3. Competitive situation -how many competitor are there? What are their characteristics and marketing approaches? Can/should the firm be a market leader, a market challenger, a market follower, or a market nicher? (pembuka ruang kpd pengguna)

4. Environmental situation -what industry wide and company-

specific environmental opportunities and threats are most important?

6.Implementing tactical Plans pg 80 opportunities exists only for specific

periods. Many marketing investments (resource

allocation) can be classified as order-processing or order-generating costs.

a) Order-processing are expenses associated with recording or handling orders, such as order entry, computer-information handling, and merchandise handling.

The goals is to minimize those costs, subject to providing or obtaining a given level of service.

b) Order generating costs are revenue (hasil organiztn.gov) producing.

Such as advertising and personal selling.

Reducing these costs may have a detrimental effect on a firm’s sales and profits. Therefore, an organization needs to estimate revenues at various level of costs and for various combinations of marketing functions.

7. Monitoring results

Performance is evaluated by monitoring results.

Monitoring results involves comparing the actual performance of a firm, business unit, or against planned performance for a specific period.

The basic functions of marketing.

The major marketing functions are -environmental analysis and marketing

research/management.-broadening an organizations'/individual’s

marketing scope-consumer analysis- product-distribution-promotion & price planning-marketing management

.

USAHAWANBERJAYA

Ilmu mendalam

tentang projek

Pengurusansyarikat

yang baik

Pengurusanpemasaran

danjaringan

Ada mentoryang dahberjaya

Kreatif danpeka terhadap

perubahan

Sokongankeluarga