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Managing Marketing and E Marketing (overview (Deliver market offering,…
Managing Marketing and E Marketing
why is marketing important
useful beyond commercial sector - not for profit - who's lives do they want to change
understanding customer needs makies adding value easier
What is marketing
Major categories
Industrial or business to business marketing
Consumer marketing
creating and delivering products to satisfy consumers
attract and retain customers at a profit
overview
Deliver market offering
customer satisfaction / perceived value
Understanding customers and marketing environment
marketing focus - segments, targets, market offer
build an organisation to support the strategy
Understanding customers
Wants
Demands
money available determines what they can actuall buy
Needs
Influences
internal
motivations
attitudes
perceptions
External
culture
reference groups
social class
sources of marketing information
external - marketing intelligence and market research
internal - sale records, consumer database, financial statements
Market Research process
report findings
collect data
analyse and interpret
develop hyptheses
Segmenting market
based on fact that consumers have different needs
more efficient to identify distinct groups and focus communication
satisfy different needs
factors such as
geography
socio economic
socio economic
Using the Marketing mix
position products in a way that attracts consumers
reflect opinions of the product and compare with competing products
aim is to position products in consumer's minds as those best able to satisfy their demands
Product
product life cycle - introduction, growth, maturity, decline
Price
Promotion
Place
Customer relationship management
refers to move from a focus on transactions towards long term relationships
narrow - using info on customers to target promotions and encourage repeat sales
broad - building all aspects of relationship from design onwards and especially towards creating online communities
Marketing orientation
most organisations have a marketing function
only some adopt a marketing orientation - concentrate activities on the consumer
alternative orientations
production - focus on volume production
product - focus on features
focus on shifting production
Creating marketing orientation
investment by top management needed - commitment from senior managers
injection of outside talent - bring in new personnel to successfully implement marketing orientation
depends on structuring the organisation around the marketing focus
Why IS and E-business maters
IS moved from background to foreground tasks
convergence of data, voice and visual systems is changing business and public services
increase in power of computing systems
Using IS to add value to data
Managers able to interact with consumers to co-create value
go through successive stages in using the internet to add value
Co creation
traditional pattern - Producer delivers to customer who pays the producer
new pattern - platform gives request to customer contributor who then gives a contribution to the platform
Stages in using the internet
Interaction
Transaction
Information
Integration
transformation
terms
information - processed data that means something to the person
knowledge - a property of people which guides their action - embodies experience and learning
Data - recorded description of things and events
relate to inputs, transformation and outputs - enables people to add value to resources
Types of information system
management information systems
senior and middle managers
operational information systems
line managers and people doing the work
E-commerce and e-business
e-business - integration through the internet of all process of an organisation from its suppliers through to its customers
e-commerce - selling goods or services over the internet
greatly narrows the supply change
Customer Relationship management
direct targeting - one direction, different messages
one to many broadcast- - same message
one to one - unique
potential benefits
identify most and least valuable customers
increase loyalty through customised offers
gather customer data swiftly
reduced costs of maintaining and securing customers
possible disadvantages
hard to implement - change to system
Enterprise Resource Planning
difficulties
promote centralisation
complex to implement
generic systems may diminish uniqueness
potential benefits
standardise manufacturing processes and reduce inventory
improve information for management decisions across sites
integrate customer and financial information
link suppliers and customers online
Knowledge management systems
benefits
relates to inputs, transformations and outputs
improve way of an organization creates, captures and uses knowledge
difficulties
most valuable knowldege is usually unwritten
do rewards structures encourage people to share knowledge
Integrating themes
Sustainability - wide use of IS is part of the problem and part of the solution
Internationalisation - IS enable growth of global trade
entrepreneurship - IS helps innovate products through R &D and websites
Governance - Weill and Ross show value of developing effective IS governance systems