articles that were provided per week. These can be studied for the exam and used

Pre-Master Business Administration

2019-2020

Marketing Management

Build-up of this document:

Page 2-12: These pages incorporate an overview of the important information that was derived from the slides in-class.

Page 12-40: The remainder of this document includes a summary of the various

articles that were provided per week. These can be studied for the exam and used for in-class presentations.

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2 Week 1 – Marketing Lecture

The standard elements of the marketing management process can be portrayed as:

(Kotler & Keller)

The production concept à Consumers prefer products that are widely available and inexpensive. Managers of production-oriented businesses concentrate on achieving high production efficiency, low costs, and mass distribution.

The product concept à Consumers favor products offering the most quality, performance, or innovative features.

The selling concept à Consumers and businesses, if left alone, won’t buy enough of the organization’s products. It is practiced most aggressively with unsought goods.

The marketing concept à The marketing concept (emerged in the mid 1950’s) holds that the key to achieving organizational goals is being more effective than competitors in creating, delivering, and communicating superior customer value to your target markets. ‘Selling focuses on the needs of the seller; marketing on the needs of the buyer.’ (Theodore Levitt)

The Marketing Concept holds that the key to achieving organizational goals is being more effective than competitors in creating, delivering, and communicating superior customer value to your target markets.

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3

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4 The Holistic Marketing Concept à The Holistic Marketing Concept is based on the development, design, and implementation of marketing programs, processes, and activities that recognize their breadth and interdependencies and acknowledges that everything matters in marketing — and that a broad, integrated perspective is necessary.

Week 2 – Marketing Lecture

The Business Mission à

• Provides a shared sense of purpose, direction and opportunity to managers,

employees and (in many cases) customers with.

• Reflects a vision, an almost „impossible dream“ that provides a direction for the

company / business unit for the next 10-20 years.

• Defines the major competitive spheres within which the company will operate

(industry, products and applications, competence, market segment, vertical sphere, geographical sphere).

• Stresses the firm‘s major policies, values and culture.

The Market Analysis à

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