Int to Mktng ch1
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Transcript of Int to Mktng ch1
Copyright ©2009 by Cengage Learning Inc. All rights reserved 1
Designed byEric BrengleB-books, Ltd.
CHAPTER
1
An Overview of Marketing
Prepared byAmit Shah
Frostburg State University
MarketingLamb, Hair, McDaniel
10
Copyright ©2009 by Cengage Learning Inc. All rights reserved
Learning Learning Learning Learning OutcomesOutcomesOutcomesOutcomes
2
Define the term marketing
Describe four marketing management philosophies
Discuss the differences between sales and market orientations
Describe several reasons for studying marketing
LOI
LO2
LO3
LO4
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What Is Marketing?
3
Define the term marketing
LOI
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What Is Marketing?
4
Stresses Customer SatisfactionStresses Customer Satisfaction
A Philosophy
An Attitude
A Perspective
A Management Orientation
A Set of Activities…
Products
Distribution
Promotion
Pricing
LOI
Copyright ©2009 by Cengage Learning Inc. All rights reserved
What Is Marketing?
Marketing is the activity, set of institutions,
and processes for creating,
communicating, delivering, and
exchanging offerings that have value for
customers, clients, partners, and society
at large.
5
LOI
American Marketing Association Definition
Copyright ©2009 by Cengage Learning Inc. All rights reserved
What Is Marketing?
6
LOI
Employee satisfaction
Greater effort
Higher quality
Repeat business
Growth andprofits
Stockholder
satisfaction
More investment
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Exchange
7
ExchangeExchange
Chapter
PHOTOHere
Chapter
PHOTOHere
People giving up something to
receive something they would
rather have.
LOI
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Exchange
8
LOI
At Least Two PartiesAt Least Two Parties
Something of ValueSomething of Value
Communication and DeliveryCommunication and Delivery
Freedom to Accept or RejectFreedom to Accept or Reject
Desire to Deal with Other PartyDesire to Deal with Other Party
Conditions for Exchange
Conditions for Exchange
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Exchange
• Exchange may not take place even if conditions are met
• An agreement must be reached
• Marketing occurs even if exchange does not take place
9
LOI
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REVIEW LEARNING OUTCOME
10
LOI
Product
Price
Place
Prom
otion
ExchangeExchange
A BA B
Delivering
Value
Communicating
Value
Creating
ValueCustomer value
and beneficial relationships
Customer value
and beneficial relationships
What Is Marketing?
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Marketing Management Philosophies
11
Describe four marketing management philosophies
LO2
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Marketing Management Philosophies
12
LO2
Sales
Market
Societal
Production internal capabilities of the firm
satisfying customer needs and wants while meeting objectives
satisfying customer needs and wants while enhancing individual and societal well-being
aggressive sales techniques and belief that high sales result in high profits
Orientation Focus is on…
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Market Orientation
13
LO2
MarketingConcept
MarketingConcept
The idea that the social and
economic justification for an
organization’s existence is the
satisfaction of customer wants
and needs while meeting
organizational objectives.
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The Marketing Concept
�Focusing on customer wants and needs
to distinguish products from
competitors’ offerings
�Integrating all the organization’s
activities to satisfy these wants
�Achieving the organization’s long-term
goals by satisfying customer wants and
needs legally and responsibly
14
LO2
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Achieving a Marketing Orientation
� Obtain information about customers,
competitors, and markets
� Examine the information from a total business
perspective
� Determine how to deliver superior
customer value
� Implement actions to provide value
to customers
15
LO2
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Societal Marketing
16
LO2
SocietalMarketing
Orientation
SocietalMarketing
Orientation
An organization exists not only
to satisfy customer wants but
also to preserve or enhance
individuals’ and society’s long-
term best interests.
• Less toxic products
• More durable products
• Products with reusable
or recyclable materials
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REVIEW LEARNING OUTCOME
17
LO2
ProductionProduction
SalesSales
MarketingMarketing
SocietalSocietal
What can we make or do best?What can we make or do best?
How can we sell more aggressively?How can we sell more aggressively?
What do customerswant and need?
What do customerswant and need?
What do customers want and need, and how can we benefit society?
What do customers want and need, and how can we benefit society?
Orientation Focus
The Four Marketing Management Philosophies
Copyright ©2009 by Cengage Learning Inc. All rights reserved
Sales and Marketing Orientations
18
Discuss the differences between sales and market orientations
LO3
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Comparing the Sales and Market Orientations
19
LO3
� Organization’s focus
� Firm’s business
� Those to whom the product is directed
� Firm’s primary goal
� The tools used to achieve those goals
You can compare these orientations against these five categories:
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Customer Value
20
Chapter
PHOTOHere
Chapter
PHOTOHere
LO3
The relationship between
benefits and the sacrifice
necessary to obtain those
benefits.
Customer Value
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Customer Value Requirements
• Offer products that perform
• Earn trust
• Avoid unrealistic pricing
• Give the buyer facts
• Offer organization-wide commitment in service and after-sales support
• Co-Creation
21
LO3
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Customer Satisfaction
22
LO3
Customer Satisfaction
Customer Satisfaction
Chapter
PHOTOHere
Chapter
PHOTOHere
The customer’s evaluation
of a good or service in terms
of whether it has met their
needs and expectations.
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Building Relationships
23
LO3
RelationshipMarketing
RelationshipMarketing
Chapter
PHOTOHere
Chapter
PHOTOHere
A strategy that focuses on
keeping and improving
relationships with current
customers.
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Building Relationships
24
LO3
� Customer-oriented personnel
� Employee training programs
� Empowered employees
� Teamwork
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Defining a Firm’s Business
Use Use ““benefitsbenefits”” instead of instead of ““goods/servicesgoods/services””
– Ensures a customer focus
– Encourages innovation and creativity
– Stimulates an awareness of changes
in customer preferences
25
LO3
http://www.britannica.com
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REVIEW LEARNING OUTCOME
26
LO3
Sales vs. Market Orientations
Organization’sFocus
Firm’sBusiness
ForWhom?
Primary Profit Goal?
Tools to Achieve
Selling goods and services
Everybody Maximum sales volume
Primarily promotion
InwardSales Orientation
Market Orientation
Outward Coordinated use of all marketing activities
Customer satisfaction
Specific groups of people
Satisfying wants and needs
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Why Study Marketing
27
Describe several reasonsfor studying marketing
LO4
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Why Study Marketing?
� Plays an important role in society
� Vital to business survival, profits
and growth
� Offers career opportunities
� Affects your life every day
28
LO4
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Why Study Marketing
29
LO4
Vital Marketing ActivitiesVital Marketing Activities
Assess the wants and satisfaction of customersAssess the wants and satisfaction of customers
Design and manage product offeringsDesign and manage product offerings
Determine prices and pricing policiesDetermine prices and pricing policies
Develop distribution strategiesDevelop distribution strategies
Communicate with present and potential customersCommunicate with present and potential customers
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REVIEW LEARNING OUTCOME
30
LO4
Reasons for Studying Marketing
Why Study Marketing?Why Study Marketing?
Importantto
Society
Importantto
Society
Importantto
Business
Importantto
Business
GoodCareer
Opportunities
GoodCareer
Opportunities
+Marketing affects you every day!