W1 Intro - Marketing environment

Course Overview

  • Course Title: Marketing Management

  • Instructor: Dr. Freya De Keyzer, Ph.D. in Applied Economics Sciences at University of Antwerp

  • Contact: Freya.DeKeyzer@uantwerpen.be

  • Communication: Officially through Blackboard, questions can be asked during breaks or after class.

Learning Outcomes

  • Students will:

    • Segment the market and position organizational efforts.

    • Analyze realistic marketing situations.

    • Understand marketing concepts and modern strategic practices.

    • Influence consumer and organizational buying processes.

    • Apply theoretical concepts to practical cases.

    • Report on marketing situations succinctly.

Course Structure

  • Cursusmateriaal: Textbook is Jobber & Ellis-Chadwick - Principles and Practice of Marketing, eBook is sufficient. Supplemented with slides and additional materials on Blackboard.

  • Class Schedule:

    • Introduction to Marketing Environment: 27.09.2024

    • Marketing Planning and Analysis: 04.10.2024

    • Consumer Behavior: 11.10.2024

    • Marketing Research: 18.10.2024

    • Presentations: 08.11.2024

    • Final Wrap-up: 13.12.2024

    • Final Assignment: 20.12.2024.

Assignments and Evaluation

  • Group Assignment:

    • Act as a marketing consultancy for a chosen brand, without needing to contact the company. Groups of 4-5 students.

    • Deliverables include:

      • D1: Market analysis (20% of grade)

      • D2: Re-positioning strategy (20% of grade)

      • D3: Marketing mix recommendations (20% of grade)

      • Presentations on Nov 8th, written report due Dec 20th.

  • Evaluation Overview:

    • Final exam: 30% (closed book, multiple choice)

    • Group project counts for 60% (individual and peer assessments included).

Key Concepts in Marketing

  • Defining Marketing: A process to create value for customers and build strong relationships (Kotler & Armstrong). Focuses on meeting customer needs for mutual benefit.

  • Marketing Concept: Achieving corporate goals by exceeding customer expectations through integrated efforts.

  • Distinguishing Factors:

    • Market Orientation: Focus on customer needs rather than merely pushing products.

    • Exchange and Relationships: Value creation through exchanges, emphasizing satisfactory relationships between buyers and sellers.

Understanding the Marketing Environment

  1. Internal Environment: Various departments, processes, and resources within a company.

  2. Microenvironment: Actors such as suppliers, competitors, and customers affecting operations directly.

  3. Macroenvironment: Broader societal forces such as economic, political, and cultural trends influencing the business landscape.

Strategic Tools

  • PESTLE Analysis: A framework for analyzing the external environment, including Political, Economic, Social, Technological, Legal, and Environmental factors.

  • Demographic Forces: Understanding population trends crucial for effective targeting and positioning of marketing efforts.

Customer Satisfaction and Value Creation

  • Value Proposition: The unique blend of benefits and costs in a marketing offering.

  • Customer Satisfaction: The alignment between perceived performance and expectations; crucial for retention and loyalty.

  • Building Customer Relationships: Identify customer types, e.g., 'True Friends' and 'Barnacles,' to tailor strategies for engagement and profitability.