Post on 17-Dec-2015
Objectives
• Course Organization
• Tasks of Marketing
• Major Concepts & Tools of Marketing
• Marketplace Orientations
• Marketing’s Responses to New Challenges
Course/Text Organization
• Part I - Marketing Management
• Part II - Analyzing Marketing Opportunities
• Part III - Developing Marketing Strategies
• Part IV - Shaping the Market Offering
• Part V - Managing & Delivering Marketing Programs
Defining Marketing
Marketing is a societal process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others. - Philip Kotler (p. 7)
What is Marketed?
• Goods
• Services
• Events
• Experiences
• Persons
• Places
• Properties
• Organizations
• Information
• Ideas
Core Concepts of Marketing
Product or Offering Product or Offering
Value and Satisfaction Value and Satisfaction
Needs, Wants, and DemandsNeeds, Wants, and Demands
Exchange and Transactions Exchange and Transactions
Relationships and Networks Relationships and Networks
Target Markets & Segmentation Target Markets & Segmentation
Marketing Channels Marketing Channels
Supply Chain Supply Chain
Competition Competition
Marketing Environment Marketing Environment
The macro-environmentThe macro-environment
The micro-environmentThe micro-environmentPoliticalfactors
Economicfactors
Technologicalfactors
Socio-culturalfactors
The InternalThe Internalenvironmentenvironment
MenMoney
MachineryMaterialsMinutes
Consum
ers
Stakeholders
Sup
plie
rs
The Marketing Environment
For an exchange to occur…..
• There are at least two parties.• Each party has something that might be of value
to the other party.• Each party is capable of communication and
delivery.• Each party is free to reject the exchange offer.• Each party believes it is appropriate or desirable
to deal with the other party.
Demand & Need States
I want...• Negative• Nonexistent• Latent• Declining• Irregular• Unwholesome• Full• Overfull
I need…• Stated needs• Real needs• Unstated needs• Delight needs• Secret needs
Simple Marketing System
Industry(a collection
of sellers)
Market(a collection
of Buyers)
Goods/services
Money
Communication
Information
The New Player Order The marketplace isn’t what it used to be….
• Changing technology• Globalization• Deregulation• Privatization
• Empowerment• Customization• Convergence• Disintermediation
Or?
Manufacturermarkets
Services,Services,moneymoney
Governmentmarkets
Services,Services,moneymoney
ServicesServices
Services,Services,moneymoney
TaxesTaxes
Taxes,Taxes,goodsgoods
Taxes,Taxes,goodsgoods
Taxes,Taxes,goodsgoods
MoneyMoney MoneyMoney
Consumermarkets
IntermediarymarketsGoods, servicesGoods, services Goods, servicesGoods, services
ResourcesResources ResourcesResources
Resourcemarkets
MoneyMoney MoneyMoney
Structure of Flows
Marketing Mix - The Four Ps
MarketingMix
Product
Price Promotion
Place
& The Four Cs& The Four Cs
CustomerSolution
CustomerCost
Communication
Conven-ience
Four Ps
Product Price Promotion Place
Product variety
Quality
Design
Features
Brand Name
Packaging
Sizes
Services
Warranties
Returns
List price
Discounts
Allowances
Payment period
Credit terms
Sales promotion
Advertising
Sales force
Public relations
Direct marketing
Channels
Coverage
Assortments
Locations
Inventory
Transport
Production ConceptProduction Concept
Product ConceptProduct Concept
Selling ConceptSelling Concept
Marketing ConceptMarketing Concept
Consumers prefer products that are widely available and inexpensive
Consumers favor products that offer the most quality, performance,
or innovative features
Consumers will buy products only ifthe company aggressively
promotes/sells these products
Focuses on needs/ wants of target markets & delivering value
better than competitors
Company Orientations Towards the Marketplace
MarketIntegratedmarketing
Profits throughcustomer
satisfactionCustomer
needs
(b) The marketing concept
FactoryExistingproducts
Selling andpromotion
Profits throughsales volume
Startingpoint Focus Means Ends
(a) The selling concept
Customer Delivered Value
Customer-Oriented Organization Chart
Customers
Front-line people
Middle management
Topmanage-
ment
Customers Cus
tom
ers
Evolving Views of Marketing’s Role
a. Marketing as anequal function
FinanceProduction
Marketing Humanresources
b. Marketing as a moreimportant function
Finance
Humanresources
Marketing
Production
Evolving Views of Marketing’s Role
c. Marketing as themajor function
Marketing
Finance
Hum
an
resources
Production
d. The customer as thecontrolling factor
Customer
Human
reso
urces
FinanceProductio
n
Marketing
Evolving Views of Marketing’s Role
e. The customer as the controllingfunction and marketing as the
integrative function
Customer
Marketing
Production
Hum
an
resources
Finance