Joys of Strategic Marketing Management -Lecture 1 - Strategic Marketing Management

 

Asalam o Alaikum Dear friends, today I am going to share a lecture 1 of strategic marketing management which is taught by sir, Adnan Pitafi at MUISTD.This lecture is also provided by sir Adnan Pitafi. I am just briefing some main points of lecture below, and for complete detailed lecture you must download ppt file in the last of this description where download link is available.

Important Issue

Increasing and sustaining customer value at a level higher than that of competitors.

Business’ two greatest assets:
Employees
Customer base

Who is a Customer

First job is to have an accurate set of customer specifications for the prospective or existing target market.

For Habib bank?
For a hospital?

Careers in Marketing

35% of all employees are employed in marketing-related positions.
Offers constant challenge.
Stimulating problems.
Opportunity to work with people—internal and external.
Excellent advancement opportunities.
44% of Fortune 1000 CEOs spent the bulk of their careers in marketing.

Careers—Specific jobs

Advertising
Brand management
Industrial sales and marketing
International marketing
Marketing research
New product planning
Purchasing
Retailing management

Marketing is

the process of creating, distributing, promoting, and pricing products (goods, services, ideas) to facilitate satisfying exchange relationships with customers in a dynamic environment.

Elements of the Marketing Mix

Product 

bundle of attributes and benefits functional, social, psychological goods, services, ideas branding is essential.
functional, social, psychological
goods, services, ideas
branding is essential

Price

the value exchanged for products

Value

low price....
the quality I get for the price I pay
all I get for all I give.

Promotion

communications with the target audience to facilitate exchange or to develop an exchange relationship.

Distribution 

Marketing Channels:  the movement and ownership of products from producer to consumer.

Elements added to the Expanded Marketing Mix

People

Receptionist, salesperson, nurse, doctor, technician.

Partners

Burger King and Xbox, watchmobile

Participation

By the customers before designing the product

Passion

something more than the product

Marketing Strategies

Who is our customer?
Environmental analysis
Competitive analysis
Segmentation and Targeting
Positioning strategies – foundation of marketing strategies
Marketing mix—Product, price, promotion, and place
Execution of strategies

Marketing is

The art and science of Acquiring customers Satisfying customers Retaining customers Building relationships.

Thinking Strategically

Operational Effectiveness is not Neccessary

Strategy is the Creation of Unique and valuable position, involving a different set of activities…

If you have any problem regard understanding above lecture, then kindly download below lecture which is given and provided by sir Adnan Pitafi.

Click Here to Download