POM_MODULE

University of Zambia Diploma in Logistics and Transport ManagementIndustrial Training CentrePrinciples of Marketing Course ModulePrepared by: Anna Kasote Phiri, BSc Marketing

Module 1: Defining Marketing Concepts and Process

Marketing DefinedDefinition: A social and managerial process where individuals and groups obtain what they need and want through creating and exchanging products and value.Objectives:

• Make selling superfluous by delivering customer satisfaction at a profit.

• Attract new customers by promising superior value and retain current customers by delivering satisfaction.

• Understand the customer so well that the product or service fits and sells itself.Good marketing focuses on delivering real value consistently.

Marketing Process Steps:

1. Analyzing marketing opportunities

2. Selecting target markets

3. Developing the marketing mix

4. Managing the marketing effort

Analyzing Marketing Opportunities

Focus on targeted consumers. Identify market segments and design a marketing mix using product, price, place, and promotion. Engage in analysis, planning, implementation, and control.

Selecting Target Markets

Market Segmentation:Dividing a market into groups with different needs and identifying the best opportunities.

Types of Segmentation:

• Geographic (regions, cities)

• Demographic (age, income)

• Psychographic (social class, lifestyle)

• Behavioral (usage rates, benefits sought)

Examples:Car market segmentation (e.g., price-sensitive vs. comfort-seeking consumers).

Positioning

Definition:The place a product occupies in consumers' minds.Importance:Differentiates products and establishes a competitive advantage.Example Statements:

• Ford: 'Everything we do is driven by you.'

• BMW: 'The ultimate driving machine.'

Developing the Marketing Mix

Definition:Set of controllable marketing tools.

Four Ps:

• Product: totality of goods/services offered (e.g., Honda Civic).

• Price: what customers pay, can vary (negotiation).

• Place: company activities for product availability (dealer network).

• Promotion: communicates product merits (advertising, sales promotions).

Marketing Management Orientations

Different philosophies guiding marketing strategies:

• Production Concept: Focus on efficiency and availability (e.g., Lenovo).

• Product Concept: Quality and performance focus.

• Selling Concept: Sales and promotions dominate.

• Marketing Concept: Customer satisfaction leads to sales.

• Societal Marketing Concept: Long-term welfare balance between consumers, society, and company.

Module 2: Consumer Markets and Consumer Buyer Behavior

Understanding Consumer BehaviorKey Questions:

• Who buys?

• How, when, where, and why do they buy?

Model:Stimulus-response model where marketing stimuli influence buyer responses.

Motivation and NeedsMotivation:Understand what drives customer purchase intentions.Maslow's Hierarchy of Needs:

1. Physiological

2. Safety

3. Social

4. Esteem

5. Self-actualization.

Buyer Decision Process Stages:

• Need Recognition

• Information Search

• Evaluation of Alternatives

• Purchase Decision

• Post-Purchase Behavior.

Subsequent Modules Outline

Module 3: Customer-Driven Strategy

Market Segmentation:Divided into sub-groups based on various factors (geographic, demographic, psychographic, behavioral).Market Targeting:Evaluating segment attractiveness, forms of targeting strategies include undifferentiated, differentiated, concentrated, and micro-marketing.

Module 4: The Product Life Cycle

Steps in new product development and its importance for company survival.Stages in the Product Life Cycle:

• Development

• Introduction

• Growth

• Maturity

• Decline.

Module 5: Pricing Strategies

Pricing Definition:Amount charged for product/service.Types of Pricing:Customer value-based, cost-based, competition-based.

Module 6: Marketing Channels

Definition:Sets of interdependent organizations involved in making a product available to consumers.Types of Marketing Systems:Conventional, vertical, and horizontal marketing systems.

Module 7: Integrated Marketing Communication Strategy

Promotion Mix:Blend of advertising, personal selling, sales promotion, public relations, and direct marketing.Importance of IMC in delivering clear and consistent messages.

Module 8: The Marketing Plan

Components:

• Executive Summary: A high-level overview of the entire marketing plan, summarizing the key points.

• Marketing Audit: A comprehensive analysis of the internal and external environment affecting the marketing strategy, including competitor analysis and market trends.

• SWOT Analysis: Detailed strengths, weaknesses, opportunities, and threats assessment that informs strategy development.

• Objectives: Clearly defined, measurable goals that the marketing plan aims to achieve.

• Strategies: The overarching methods and approaches for achieving marketing objectives, including positioning strategies and branding.

• Action Programs: Specific, detailed plans of action including timelines, responsibilities, and resources needed for implementation of strategies.

• Budgets: Financial allocations for different aspects of the marketing plan, ensuring resources are allocated efficiently.

• Controls: Mechanisms for monitoring progress and performance against the marketing plan, allowing for adjustments to be made as necessary.

Module 9: Customer Care

Importance of exemplary customer treatment:Maintaining profitability through high customer satisfaction and loyalty. Satisfied customers tend to repeat purchases and can become brand advocates.Strategies for effective customer care:

• Personalization: Tailoring experiences to meet individual customer needs, enhancing the feeling of value.

• Feedback Mechanisms: Implementing channels for customer feedback (surveys, social media) to continuously improve services/products.

• Training Employees: Equipping staff with the necessary skills to handle customer inquiries and provide exceptional service.

• Relationship Building: Creating long-term relationships with customers through ongoing engagement strategies such as loyalty programs and community involvement.

• Responsiveness: Ensuring timely and efficient responses to customer inquiries and complaints to enhance the customer experience.

Module 10: Sustainable Marketing

Definition:Marketing that meets present needs without compromising future generations.Importance of ethical marketing practices:Building trust with consumers and ensuring that marketing methods and messages are responsible and sensitive to societal impacts.