Marketing Management Philip Kotler (Chapter 1-11)

Marketing Management Philip Kotler (Chapter 1-11)
Marketing Management Philip Kotler (Chapter 1-11)

Marketing is the spearhead of a company or organisation. Many experts try to define or discover theories regarding marketing. One of them is Dr. Philip Kotler, known for his marketing theory. Philip Kotler, who does not know that name in the economic field. Many of the works he has written, the following will be outlined in the summary of the Marketing management By Philip Kotler. As a note of this summary I get from browsing the material to add my personal library, if there is an interest please include the original source of the author. Respect the work of others is one manifestation of responsibility. Hopefully can help.

Marketing Management Philip Kotler Chapter 1

  1. Today the business world faces three main challenges and opportunities: globalization, technological advancement, and deregulation.
  2. Marketing is generally seen as the task of creating promotes, as well as handing over goods and services to consumers and other companies. Effective Ang marketing can be done through many forms. Can be entrepreneurial, formulated, or intrepreneurial; and marketing markets many types of entities: goods, services, experiences, special events (events), people, places, possessions, organizations, information, ideas.
  3. The marketers are skilled people in managing the request: they strive to influence the level, timing, and composition of requests. To do that, they face a bunch of decisions, ranging from such a big feature to what a product should have up to a small thing like packing colors, they also operate in four different markets: the customer, Global, and nonprofit companies.
  4. For each target market chosen, the company develops a market offering positioned in the mind of the buyer as providing certain benefits. Marketers should understand the needs, desires, and target market demands: the product or offer will succeed if it delivers value and satisfaction to the target buyer. The term market includes a variety of grouping customers. Today there is a physical market place and there are digital markets, and there is also a mega market (Megamarket).
  5. Exchange is getting the desired product from someone by offering something in return. The transaction is a trading value between two or more parties: that includes at least two valuable things, the terms of which one agreement agreed, and the place of agreement. In the most common sense, marketers should strive for the other party's responses to tangible behaviour: purchasing, voting, active membership participation in caring activities.
  6. Relational marketing aims to build mutually satisfying long-term relationships with key parties-customers, suppliers, distributors-in order to obtain and maintain the surplus (preference) and long-term business them, the summit Outcome of relational marketing is the establishment of a unique corporate asset and is called a network of marketing.
  7. The marketers reach the market through various channels of communication, distribution, and sales. The marketers operate in a task environment and in a broad environment. They faced competitive bid and substitute goods from actual and potential competitors. Device tools used by marketers to get the desired response from their target market are called marketing mix.
  8. There are six competing concepts used by organizations to choose the way they do business: concept production, product concepts, sales concepts, marketing concepts, customer concepts, and community marketing concepts. The first three concepts have limited benefits today. The marketing concept confirms that the key to achieving the organizational goals is determining the needs and desires of the target market to deliver the desired satisfaction more effectively and efficiently than competitors. The concept begins with a well-defined market, focusing on customer needs, coordinating all activities that will affect customers, and generating profit by satisfying customers, the concept of customers meets Individual needs of specific customers and aims to build loyalty and value during the customer's lifetime.
  9. The concept of community marketing confirms that the task of the Organization is to determine the needs, desires, and interests of the target market and provide the desired satisfaction more effectively and efficiently than competitors, through ways that can Maintaining or enhancing the welfare of consumers and society. That concept demands marketers to balance three considerations: corporate profit, consumer desire, and public interest.
Marketing Management Philip Kotler Chapter 2
  1. New technological advances and new market forces create a new economy. Companies and marketers need to add new tools and practices if they expect success.
  2. Four special drivers of the new economy are digitisation and connectivity, disintermediation and reintermediation, customization and customisation, and industry convergence. Digitisation specifically introduces a new, joyous capabiliation to consumers and the business world.
  3. The new economy shifts some of the old economic business practices towards organizing based on customer segments (rather than just product based). Focuses on customer lifetime value (not on Transakai). Focusing on the believers (and not only on shareholders), making everyone do the Prestige, building a brand through behavior (instead of advertising), focusing on retaining customers (as much as acquiring customers), measuring satisfaction Customer, and provide an appointment but give more.
  4. The company tried many questions in adopting e-marketing (electronic marketers). Three of them are knowing how to design a compelling website, knowing how to advertise on the web, and knowing how to build a healthy revenue and profit model for their dot com business.
  5. The company has also become skilled in the customers ' relay management (CRM: Customer Relationship Management), which focuses on meeting the individual needs of important customers. Skills demand the establishment of a customer database and perform data mining to track trends, segments and individual needs.
Marketing Management Philip Kotler Chapter 3
  1. Customers behave to maximize value. They formed a hope for value and acted upon that expectation. Buyers will buy from companies that they consider to offer value to customers (customer delivered value) Supreme, which is defined as the difference between total customer value and total customer cost.
  2. Buyer satisfaction is a function of performance that is considered to be present in the product and buyer's expectation. Because realizing that high satisfaction leads to high customer loyalty, many companies now lead to TCS – Total Customer Satisfaction (Total customer satisfaction). For these companies, customer satisfaction is a target and marketing tool.
  3. Robust companies develop capabilities/capability to manage core business processes: realises new products, managing dosage, finding and retaining customers. Managing these core processes effectively means creating a network of marketing work through the network that companies cooperate closely with all parties in the production and distribution chain, from raw material suppliers to distributors Retailers. Companies are no longer competing – the competing networks are now network – Network Marketing.
  4. Losing customers who are able to generate profits can have a dramatic impact on the company's profits. The cost of attracting new customers is estimated at five times the cost of pleasing existing customers. The key to retaining customers is relational marketing. To always please customers, marketers can have the financial and social benefits to the product, or create a structural bond between the company and its customers.
  5. Quality is the whole feature and nature of a product or service that affects its ability to satisfy both expressed and implied needs. Today's companies have no choice but to do a total Quality management program if they want to maintain their solvency and profitability. Total quality is the key to value creation and customer satisfaction.
  6. Based on quality, marketing managers have two responsibilities. First, they must participate to formulate strategies and policies designed to help the Company to excel in competition through Total quality greatness. Secondly, they must provide marketing quality in addition to production quality. Each marketing activity – marketing research, sales training, advertising, customer service, and so on – must be implemented with high standards.
Marketing Management Philip Kotler Chapter 4
  1. Market-oriented strategic planning is a managerial process to develop and maintain the suitability that generates success between objectives, expertise, and organizational resources with a number of constantly changing market opportunities. The strategic planning objective is to form and improve the company's business and products so that it achieves its profit and growth goals. Strategic planning is conducted on four levels: corporations, divisions, business units, and products.
  2. The corporate headquarters are responsible for the implementation of the strategic planning process. Corporate strategy becomes a framework for divisions and business units in preparing their strategic recana. The establishment of a corporate strategy includes four activities? Defining corporate missions; Strategic business Units (SBU); Charge resources to each business unit based on market attractiveness and business strength; Planning new businesses and streamlining old businesses.
  3. Strategic planning for certain businesses includes the following activities: Defining business missions, analyzing opportunities and external threats, analyzing internal strengths and weaknesses, formulating targets, formulating strategies, formulating programmes Support, implementing programs, and collecting feedback and carrying out controls.
  4. The marketing process consists of four steps: Analyzing market opportunities, drafting a marketing strategy; Planning a marketing program; and organizing, implementing, and controlling marketing efforts.
  5. Each product level in a particular business unit must create a marketing plan to achieve its goals. The procurement plan is the most important result of the marketing process, and the plan must contain the following elements: Executive overview and table of contents; Review of current marketing situations; Analysis of the opportunities and issues faced by the product; Overview of the financial and marketing objectives of the plan; A review of marketing strategies to be used to achieve plan objectives; Overview of program activities to be executed to achieve the purpose of Recana; Projections of profit-loss reports; and overview of controls to be used to monitor the progress of the plan.
Marketing Management Philip Kotler Chapter 5
  1. Three developments are increasingly improving the need for marketing information today than in the past: the emergence of global marketing. Emphasis on buyer desires, and trends towards non-price competition.
  2. To carry out the responsibilities of analysis, planning, implementation, and control, the marketing managers need a marketing information system (SIP), the role of SIP is to assess the needs of the managers ' information, arrange the information needed , and distribute such information in a timely manner.
  3. SIP has four components: (a) internal logging system, which includes order-to-payment cycle information and sales reporting systems; (b) Marketing intelligence systems, a set of procedures and resources used by managers to obtain daily information on the development of the marketing Environment (c) Marketing research systems that enable the design, collection, analysis, and systematic reporting of data and findings that are relevant to specific marketing situations; and (d) A computerized marketing decision support system that helps managers to interpret data and relay information and make that system a fundamental marketing action.
  4. Companies can conduct their own marketing research or hire other companies to conduct research for them. Marketing research is good with scientific methods, creativity, multiple research methods, accurate model formation, analysis of benefits costs, healthy skepticism, and ethical focus.
  5. The process consists of defining the problem and research objectives, drafting a research plan, collecting information on analyzing information, and presenting the findings to the management, in conducting research, companies must decide whether they Will collect your own data or use existing data. They should also decide which research approaches (observations, focus groups, survey behavior data, or experiments) should be used. In addition, they have to make decisions about sampling plans and contact methods.
  6. One of the main reasons for conducting marketing research is to find market opportunities. After Selseai research, the company should evaluate its chances carefully and decide which markets to enter, after being in the market, the company has just prepared a sales forecast based on the inking estimate.
  7. There are two types of requests: market demand and company demand. To estimate current demands, companies are trying to determine the total market potential, regional market potential, industrial sales and market share. To estimate the demands of the future, companies can survey the buyer's intention, ask for input from the salesperson, collect expert opinions, and conduct market tests. Mathematical models, advanced statistical techniques, and computerized data collection procedures have been critical to all types of demand and sales forecasting.
Marketing Management Philip Kotler Chapter 6
  1. Companies that successfully realize that the marketing environment provides a series of opportunities and threats that are not inexhaustible. The primary responsibility of marketers is identifying significant changes in the Enterprise macro environment. Exceeding other groups within the company, marketing managers must be trending trackers and opportunity seekers.
  2. There are many opportunities found by identifying trends (the direction or sequence of events that have momentum and survival) and Megatren (major changes in social, economic, political, and technology that have prolonged impact).
  3. In a rapidly changing global situation, marketers should monitor six key environmental strengths: Demographics, economics, Nature, technology, politics, law, and socio-cultural.
  4. In a demographic environment, marketers should observe the growth of the world's population; Changes in age mix, ethnic composition, and education level, the revival of non-tradition families; Large shifts in geographic populations; And the shift to micro-marketing and mass marketing avoidance.
  5. In the economic arena, marketers need to focus on revenue distribution and savings, debt, and credit availability levels.
  6. In a natural environment, marketers must observe raw material deficiencies, increase energy costs and pollution levels, and change government roles in environmental protection.
  7. In the technological arena, marketers must take into account the acceleration of technological changes, innovation opportunities, R&D budget diversity, and increased government regulation caused by technological changes.
  8. In the political-law circle, marketers must be subject to a wide range of legislation governing business practices and in various groups of special interest.
  9. In the socio-cultural arena, the Pamasar must understand the views of people, neighbors, organizations, communities, the environment, and the universe. They must market products related to basic values and secondary values of society; And to think about and find solutions to the needs of different sub-cultures within the community.
Marketing Management Philip Kotler Chapter 7
  1. Consumer behaviour is influenced by four factors: culture (culture, sub-culture, and social class), Social (reference group, family, and role and status); Personal life (age, lifecycle, occupation, economic circumstances, lifestyle, personality, and self-concepts), and psychological (motivation, perception, learning, beliefs, and attitudes). Research on all these factors can signal like how to make people become consumers and serve those consumers more effectively
  2. To understand how consumers make actual purchase decisions, marketers must identify who is making and provide purchase decision inputs: People can be the triggers, influencers, decision-makers, buyers, or Users, and different marketing campaigns can be directed to each type of person. Marketers should also study the level of buyer engagement and the number of brands available to determine whether consumers are engaging in complex purchasing behaviour, purchase behaviour dissonance/inconvenience, purchasing behaviour due to And purchasing behaviour that seeks variation.
  3. The typical purchasing process consists of the following sequence of events: problem recognition, information retrieval, alternative evaluation, purchase decision, and post-purchase behaviour. The job of marketers is to understand the behavior of buyers at each stage. Other people's attitudes, unanticipated situation factors and thought risks can influence purchasing decisions, as well as post-purchase customer satisfaction levels and post-purchase corporate actions.
  4. Other purchasing decision process models include the health model and the customer activity cycle model.
Marketing Management Philip Kotler Chapter 8
  1. Purchasing an organization is a decision making process made by a formal organization in order to determine the need for goods and services to be purchased, then identify, evaluate, and set options from various Brand and supplier alternatives. The business market consists of all organizations that acquire goods and services used to produce other goods and services that will be sold, rented, or supplied to other parties.
  2. Compared to the consumer market, business markets usually have fewer but larger buyers, more customer relationships-a tighter supplier, and more geographically concentrated buyers. Demand for business markets is derived from consumer market demand and fluctuates following the business cycle. However, the total demand for various business goods and services is somewhat elastic against the price. Business marketers need to be aware of the role of professional shoppers and people who influence them, as well as the importance of direct purchases, returns, and leasing.
  3. The purchase center is a decision-making unit in certain organizations that make purchases. The purchase center consists of the trigger, user, influencer, decision-maker, approver, buyer, and gatekeeper, to influence the parties, marketers should pay attention to environmental, organizational, private, and personal.
  4. The purchase process consists of eight stages called the Purchase stage (buyphases): (1) The introduction of the problem, (2) The general requirement formulation, (3) product specification, (4) Supplier Search, (5) Request for Proposal submission, (6) Supplier selection, (7) Routine order specifications, and (8) performance assessments.
  5. The institutional market consists of schools, hospitals, medical halls, prisons, and other institutions that must deliver goods and services to the people they manage. Buyers in government organizations tend to ask for very many administrative jobs from suppliers and tend to prefer open tenders and domestic companies. Suppliers must be prepared to adapt their offerings to the specific needs and requirements of the institutional market and the government market.
Marketing Management Philip Kotler Chapter 9
  1. To prepare for an effective marketing strategy, the company must study the competitors as well as the actual and potential customers. Companies need to identify competitors ' strategies, objectives, strengths, weaknesses, and reaction patterns. They also need to know how to design an effective competitive intelligence system.
  2. The company's closest competitors are those who strive to satisfy the same customers and needs and make the same bid. The company should also pay attention to its latent competitors, which may offer new ways or other ways to satisfy the same needs. The company must identify its competitors using industry analysis and analysis based on the market.
  3. Competitive intelligence needs to be gathered, interpreted, and disseminated continuously. Managers must be able to receive timely information about competitors.
  4. Managers should conduct customer value analysis to wave the strengths and weaknesses of their own company relative to competitors. The objective of the analytable is to determine the benefits that customers want and how they perceive the value of the competitors ' bids.
  5. The market leader has the largest market share in the Relvan product market. To remain a dominant company, leaders are looking for ways to enlarge the overall market demand, trying to protect its current marketshare, and perhaps trying to enlarge its share.
  6. The market challenger attacks market leaders and other competitors aggressively to enlarge market share. Challengers can choose from five types of common attacks: frontal, rib, siege, transport, guerrilla, or a combination. Challengers should also choose a special strategy: discount prices, produce prestigious goods, standardises a variety of goods, innovate the field of product or distribution, improve service, lower manufacturing costs, or advertise intensively .
  7. The market's follower is the second ranked company (behind the market leader) who wants to maintain its market share and does not want to cause turmoil. Followers can act as counterfeiters, clones, imposters, or adaptations.
  8. Market niche fillers are companies that cater to small market segments that are not served by large corporations. The key to being a niche filler is specialty.
  9. As important as orientation to competitors in the global market today, companies shouldn't overexaggerate the emphasis on competitors. The company must manage a good balance between monitoring against customers and monitoring against competitors.
Marketing Management Philip Kotler Chapter 10
  1. Goal marketing includes three activities: Market segmentation, Target market assignment and market positioning.
  2. Markets can be shot on four levels: segments, niche, local, and individual. Market segments are large groups that can be identified within a particular market. Niches (niche) are groups that are defined more narrowly. Marketers localize specific marketing campaigns based on specific trade regions, residential environments, and stores. Finally, more and more companies are now practicing marketing tailored to the needs of a specific individual in a mass. In the future, consumers have more initiative in designing their products and brands.
  3. There are two basic consumer market segmentation: consumer characteristics and consumer feedback. The main segmentation variables for the consumer market are geographic, demographic, psychographic, and behavioral. Those variables can be used singly or in combination. Business marketers also use all of these variables, alongside operating variables, approach to purchasing, and situation factors. To be useful. Market segments must be measurable, large, accessible, distinguishable, and enforceable.
  4. Once the company identifies the opportunity for its market segments, it has to evaluate the various segments and to have the number of different segments and the segment that will be selected. In evaluating cement-segme, he should pay attention to the indicator of the attraction of segments as well as the purpose and resources of the company. In choosing which segments to target, companies can choose to focus on a single segment, several segments, specific products, specific markets, or an entire market. If he decides to serve the entire market, he must choose between differentiated and undifferentiated marketing.
  5. Marketers must choose a target market with social responsibility. Marketers should also monitor the relationships between segments, finding the economical scope of segments and the potential of a super segment of marketing or not doing. Marketers should devise a segment-by-segment attack plan. Finally, the market segment manager must be prepared to cooperate in the interest of the company's overall performance.
Marketing Management Philip Kotler Chapter 11
  1. Many marketers choose to promote only one product benefit, thus creating a unique selling proposition when assigning their product positions. People tend to remember "number one." But positioning with double benefits and three benefits can also be successful, as long as it is used carefully.
  2. The key to competing excellence is product differentiation. Market offers can be calculated according to five dimensions: Product (form, feature, quality of work, quality of conformity to standards or specifications, durability, reliability, ease of improvement, style, design), service (ease of booking, delivery, Installation, customer training, customer consultation, maintenance and repairs, other services), personnel, marketing channels or imagery (emblem, media, atmosphere, and event). The difference is worth being held as long as difference is important, distinctive, superior, communicative, avoided from impersonation, affordably priced, and profitable.
  3. As economic conditions change and competition activities fluctuate, companies generally feel the need to reformulate their marketing strategies several times during the product lifecycle. Technology, product form, and brand also show a life cycle at a typical stage. The general sequence of each lifecycle stage is introduction, growth, maturity, and decline. The majority of products are currently at maturity stage.
  4. Although many products show the life cycle of bell-shaped products. There are many other patterns, which include patterns of growth-deterioration, recurring cycle and cycle patterns, and notched patterns, product life cycles for style, fashion, and fads can be very unpredictable; The key to success in that field is to create a product that is always strong.
  5. Each stage of success in life of the product requires a different marketing strategy. The introductory stage is characterized by slow growth and minimum profit, if successful, the product enters the level of Pertumbhan marked with rapid sales growth and increased profits. The company strives to improve the product, entering new market segments and distribution channels, and slightly reducing prices. Next is the maturity stage that is when sales growth slows down and profit is stable. The company seeks innovative strategies to update sales growth, which includes market modifications, products, and marketing mix. Finally, the product enters the decline stage i.e. only a few can be done to stop the sales and profit independence. The company's job is to identify really weak products; Strategize for the continuation of each product, focus, or blush; And finally take off the weak product in a way that minimizes difficulties with corporate profits, employees, and customers.
  6. Like drift products, the evolution of the market is through four stages: emergence, growth, maturity, and decline. 

(Source: https://islamic-banking.academia.edu/YayanWijaya)


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