Bmgt 205 chapter_1

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Transcript of Bmgt 205 chapter_1

  • 1.B M G T 2 0 5 : P R I N C I PA L S O F M A R K E T I N GCHAPTER 1: OVERVIEW OF MARKETING

2. OVERVIEW OF MARKETING Define the role of marketing in organizations. Describe how marketers create value for a product orservice. Understand why marketing is important both withinand outside the firm. 3. MEMORABLE MARKETING What is a marketingcampaign that you can recall? Was is something youwould say was good marketing? Why?http://www.youtube.com/watch?v=R4vkVHijdQk 4. SUCCESSFUL MARKETING The right consumer is exposed to themessage at the right time and place Marketing causes consumer to payattention The ad reflects consumers level ofunderstanding and behaviors the with product Correctly positions brand in terms ofpoints-of-difference and points-ofparity Motivates consumer to considerpurchase of the brand 5. W H AT I S M A R K E T I N G ?Marketing is an organizational function and a set of processes for creating, capturing, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders. 6. M A R K E T I N G I S A B O U T S AT I S F Y I N G CUSTOMER NEEDS AND WANTShttp://youtu.be/Zr1s_B0zqX0 7. M A R K E T I N G E N TA I L S A N E X C H A N G E 8. M A R K E T I N G R E Q U I R E S P R O D U C T, PRICE, PLACE, AND PROMOTION DECISIONSProductPriceCreating valueCapturing valueDigital Vision Ltd.PRNewsFoto/PepsiCo; AP Photo.PromotionStockbyte/PunchStock.Communication valueDelivering valuePlaceBrandX/JupiterImages/Getty Images. 9. P R O D U C T: C R E AT I N G V A L U E Goods The fundamental purposeof Marketing is to create value by developing a variety of offerings, including goods, services, and ideas, to satisfy customer needs.ServicesIdeas 10. MARKETING AN IDEAhttp://youtu.be/w9Sx34swEG0 11. PRICE: C A P T U R I N G VA L U E Price is everything a buyergives up (money, time, energy) in exchange for the product. ! How much are customerswilling to pay and can a profit can be made at that point. 12. PLACE: DELIVERING T H E VA L U E PROPOSITION Place, or supply chainmanagement, describes all activities necessary to get the product to the right customer when the customer wants it. Where would you find thisproduct in the store 5 years ago? 10 years ago? 13. PROMOTION: C O M M U N I C AT I N G VA L U E Promotion iscommunication by a marketer that informs, persuades, and reminds potential buyers about a product or service to influence their opinions or elicit a response. 14. MARKETING CAN BE PERFORMED B Y I N D I V I D U A L S A N D O R G A N I Z AT I O N SRetailer (Sells PCs & monitors)B2CC2CB2B Manufacturer (Makes monitors)Consumer BConsumer A 15. C O L L A B O R AT I V E E C O N O M Y: EMERGING TREND IN MARKETING 16. M A R K E T I N G I M PA C T S V A R I O U S S TA K E H O L D E R SSocietySupply ChainCustomersEmployees 17. M A R K E T I N G H E L P S C R E AT E V A L U EProductionSales 2. 3.Marketing4. 5.Value based marketing 18. VA L U E - B A S E D M A R K E T I N GPure Dark Chocolate Light Exquisite Cookie 19. CHAPTER 1 CHECK IN1.What is the definition of marketing?2.Marketing is about satisfying ______ and ______.3.What are the four components of the marketing mix?4.Who can perform marketing?5.What are the various eras of marketing? 20. HOW DO FIRMS BECOME VA L U E D R I V E N ?Sharing InformationBalancing Benefits with CostsBuilding Relationships with Customers 21. CHAPTER 1 CHECK IN1.Does providing a good value mean selling at a low price?2.What are the benefits of long-term relationships with customers?3.How are marketers connecting with customers using social and mobile media? 22. W H Y I S M A R K E T I N G I M P O R TA N T ?Makes Life Easier 23. CHAPTER 1 KEY TERMS TO KNOW Exchange is the trade of things of value between thebuyer and the seller so that each is better off as a result. Goods are items that you can physically touch. Services are intangible customer benefits that areproduced by people or machines and cannot be separated from the producer. 24. CHAPTER 1 KEY TERMS TO KNOW Ideas include thoughts, opinions, and philosophies,and intellectual concepts which can be marketed. A supply chain is the group of firms that make anddeliver a given set of goods and services. Value reflects the relationship of benefits to costs.