Marketing Management

Marketing management combines the fields of marketing and management. Marketing consists of discovering consumer needs and wants, creating the goods and services that meet those needs and wants; and pricing, promoting, and delivering those goods and services. Doing so requires attention to six major areas – markets, products, prices, places, promotion, and people. Management is getting things done through other people. Managers engage in five key activities – planning, organizing, staffing, directing, and controlling. Marketing management implies the integration of these concepts.

Positioning and Differentiation of Services

Services firms are not identifying their key market segments and then determining how they wish consumers to perceive both their company and its products and services. Positioning is of particular significant in the services sector as it places an intangible service within a more tangible frame of reference. Thus the concept of positioning stems from a consideration of how an organization wishes its target customer to view its products and services in relationship to those of its competitors and their actual, or perceived, needs.

“Positioning is concerned with the identification, development and communication of a differentiated advantage which makes the organization’s products and services perceived as superior and distinctive to those of its competitors in the mind of its target customers.”… Read the rest

Abey Francis

The Gap Model of Service Quality

The Gap Model of Service Quality  has been developed by Parasuraman and his colleagues which helps to identify the gaps between the perceived service qualities that customers receive and what they expect.

Read More: Service Quality

The Gap Model of Service Quality  identifies five gaps:

  1. Consumer expectation — management perception gap.
  2. Management perception — service quality expectation gap.
  3. Service quality specifications — service delivery gap.
  4. Service delivery — external communications to consumer’s gap.
  5. Expected service — perceived service gap.

Gap — 5 is the service quality shortfall as seen by the customers, and gaps 1-4 are shortfalls within the service organization.… Read the rest

Abey Francis

Objections Against Advertising

Economic objections against Advertising

The criticisms leveled against modern advertising on economic grounds can be summarized as follows:

  1. Advertising creates monopolistic tendencies: It is argued that skillful and forceful advertising tends to create semi-monopolies particularly for branded goods. Their plea is that the advertisements create new demands so that one product is preferred to the exclusion of others. But this allegation is baseless. Monopoly is not possible in a competitive market. Advertising stimulates competition. Very often many small advertisers complete successfully against the bigger traders.
  2. Advertising is unproductive: It is often argued that advertising is unproductive since it does not produce any tangible products.
… Read the rest
Abey Francis

The Global Advertising Plan

The strategic advertising plan usually is prepared in conjunction with the advertising budget. Basically, the plan outlines the marketing strategy, whereas the budget allocates the funds. Two major approaches to advertising in foreign cultures differ in their orientation: one is market oriented and the other is culture oriented.

The Market Analysis Model

This model is based on data and observation from several countries. It recognizes the existence of local, regional, and international brands in almost every product category. The two major variables are the share of market of brands within a category and the size of the category. A marketing manager must look not only as share but also at market size, growth rates, and growth opportunities.… Read the rest

Abey Francis

The Standardized Advertising Approach

There are three basic schools of thought regarding advertising standardization. First one is standardization approach which assumes that due to faster communication there is a convergence of markets and that costumer are becoming increasingly similar. Second is an adaptation approach which point to cultural differences and conclude that advertising must be adapted and the last one compromise approach which recognizes local differences but also that some degree of advertising standardization is possible.

Standardized Approach  

Standardized or global advertising approach is practice of advertising the same brand or same product in the same way everywhere around the world. It looks for similarity across countries and segments to catch up a common thread to capitalize on adverting.… Read the rest

Abey Francis

Approaches to Measuring Advertising Effectiveness

There are two approaches  to measuring advertising effectiveness, viz,, experimental method and survey method. Under experimental method, consumers are given a controlled exposure to the message and the effects are measured on the basis of the change in opinion or attitude. A base line is observed with the use of a control group not exposed to the advertising campaign.  The results of the exposure in almost all the situations are recorded. The alternative effects of each exposure are considered for comparison and with a view to establishing a relationship between the exposure and the effects. Field experiments are conducted to measure the effects of mass communication.… Read the rest

Abey Francis
Exit mobile version