© 2008 McGraw-Hill Ryerson Ltd. All rights reserved.

WELCOME TO BUS132MARKETING

MANAGEMENT

WELCOME TO BUS132MARKETING

MANAGEMENT 11

© 2008 McGraw-Hill Ryerson Ltd. All rights reserved.

LETS DEFINE MARKETING

‣WHAT DO MARKETERS DO?

© 2008 McGraw-Hill Ryerson Ltd. All rights reserved.

‣ Marketing: Defined‣ An organizational function and a set of processes for

creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.

TEXT BOOK DEFINITIONS

© 2008 McGraw-Hill Ryerson Ltd. All rights reserved.

If the circus is coming to town and you paint a sign saying "Circus

Coming to the Fairground Saturday," that's advertising. If you put the sign on the back of an elephant and walk it

into town, that's promotion. If the elephant walks through the mayor's

flower bed, that's publicity. And if you get the mayor to laugh about it, that's public relations. If the town's citizens go to the circus, you show them the many entertainment booths, explain how much fun they'll have spending money at the booths, answer their

questions and ultimately, they spend a lot at the circus, that's sales.

© 2008 McGraw-Hill Ryerson Ltd. All rights reserved.

An organization’s marketing department relates to many people, groups, and forces

© 2008 McGraw-Hill Ryerson Ltd. All rights reserved.

Requirements for Marketing to Occur

‣ Two or More Parties with Unsatisfied Needs‣ Desire and Ability to Satisfy These Needs‣ A Way for the Parties to Communicate‣ Something to Exchange

© 2008 McGraw-Hill Ryerson Ltd. All rights reserved.

‣Discovering Consumer Needs‣ Consumer Needs and Consumer Wants

DISCOVERING AND SATISFING CONSUMER NEEDS

© 2008 McGraw-Hill Ryerson Ltd. All rights reserved.

New Product Idea!

© 2008 McGraw-Hill Ryerson Ltd. All rights reserved.© 2008 McGraw-Hill Ryerson Ltd. All rights reserved.

Marketing’s first task: discovering consumer needs

© 2008 McGraw-Hill Ryerson Ltd. All rights reserved.

‣Satisfying Consumer Needs‣ Target market‣ The Four Ps: Controllable Marketing Mix Factors‣ Product‣ Price‣ Promotion ‣ Place

‣ The Uncontrollable, Environmental Factors

HOW MARKETING DISCOVERS AND SATISFIES CONSUMER NEEDS

© 2008 McGraw-Hill Ryerson Ltd. All rights reserved.

FIGURE 1-3 Marketing’s second task: satisfying consumer needs

© 2008 McGraw-Hill Ryerson Ltd. All rights reserved.

‣Evolution of North American Businesses‣ Production Era‣ Sales Era‣ Marketing Concept Era‣ Market Orientation Era‣ Customer Value‣ Customer Satisfaction‣ Customer relationship management (CRM)‣ Customer lifetime value (CLV)‣ eCRM‣ Interactive marketing

HOW MARKETING BECAME SO IMPORTANT

© 2008 McGraw-Hill Ryerson Ltd. All rights reserved.

FIGURE 1-5 Five different orientations in the history of North American business

© 2008 McGraw-Hill Ryerson Ltd. All rights reserved.

What type of value do these firms offer their customers?

© 2008 McGraw-Hill Ryerson Ltd. All rights reserved.

© 2008 McGraw-Hill Ryerson Ltd. All rights reserved.

NEXT CLASS

‣UNDERSTANDING THE MARKETING CASE APPROACH

‣ LITTLE LUCY’S LEMONADE & HISTORY ADVENTURE TOURS

‣UNDERSTANDING THE MARKETING PLAN

‣CHAPTER TWO – DEVELOPING SUCCESSFUL MARKETING

STRATEGIES