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Welcome to Fleming College and Marketing 14Kathleen Gordon Email: [email protected]://flemingcollege.ca/
Course Outline
Keep Course Outline handouts for reference
15 weeks
Mondays- Lecture
Wednesdays- Seminar
D2L Always bring questions about the material, projects and readings
Contemporary Marketing
Copyright © 2013 Pearson Canada Inc.
What
is
Marketing?
? ?
??
Marketing
A Philosophy…
An Attitude
A Perspective
A Management Orientation
A Set of Activities…
Products
Distribution
(Place)
Promotion
Pricing
Marketing Defined
“The activities, set of institutions, and processes for
creating, communicating, delivering, and exchanging
offerings that have Value
for customers, clients, partners, and society at large.”
1-7Copyright © 2013 Pearson Canada Inc.
What do people buy?
People don’t buy products or services.
Great big little thing…
What do people buy?
People don’t buy products or services.
People buy benefits.
Great big little thing…
Marketing is the heart of business
Until the marketers have done their job – no one else has anything to do.
If marketers do bad work the business fails.
What do people buy?
People have needs and those needs get satisfied by the benefits that the product or service offers.Those benefits come from unique features.People buy benefits.
Great big little thing…
The Concept of Value
• A recipe between Benefit and Price
• The more benefits I get…
• The less I have to pay…
• The better the VALUE.
• Great big little thing…
– People don’t buy bad value. It’s all about the benefits.
The Evolution of Marketing
Copyright © 2013 Pearson Canada Inc. 1-13
Production Orientation
Selling Orientation
An organization concentrated on what it was capable of producing. A quality product at a good price would sell itself.
Companies believed the more they sold the more profit they would make. The “hard sell” was the basic philosophy of doing business.
The Evolution of Marketing
Copyright © 2013 Pearson Canada Inc. 1-14
MarketingOrientation
The Marketing Concept: “Determining the needs and wants of a target market and delivering a set of satisfactions in such a way that a product is perceived as better value than competing products.”
“Have it your way.”…Burger King
The Evolution of Marketing
Copyright © 2013 Pearson Canada Inc. 1-15
Socially Responsible Marketing
Social Media Marketing
“Conducting all operations in an ethical manner and in the best interests of consumers and society.”
“An interactive communications process where brands and consumers engage with each other; a phase of marketing where some control of marketing has shifted to consumers.”
Socially Responsible Marketing
Copyright © 2013 Pearson Canada Inc. 1-16
Socially Responsible Marketing
1. Programs that conserve, preserve, and protect the environment – “sustainability”
2. Programs that support social causes (cause marketing)
3. Products, services and practices that are considered ethical.
1-17Copyright © 2013 Pearson Canada Inc.
P. 8 describes how Kraft and Frito Lay implement SRM strategies.
Being Socially Responsible
Copyright © 2013 Pearson Canada Inc. 1-18
Toyota supports a worthwhile cause as part of its social responsibility initiatives.
Being Socially Responsible
Copyright © 2013 Pearson Canada Inc. 1-19
Green Works markets naturally derived cleaning products to meet the demand for environmentally friendly products.
Concern for the Environment
Copyright © 2013 Pearson Canada Inc. 1-20
Toyota has been a leader in the development of environmentally friendly automobiles.
Ethical Practices
http://www.the-cma.org/regulatory/code-of-ethics
The CMA Code of Ethics and Standards of Practice (the “Code”) is designed to establish and maintain standards for the conduct of marketing in Canada.
Marketers acknowledge that the establishment and maintenance of high standards of practice are a fundamental responsibility to the public, essential to winning and holding consumer confidence, and the foundation of a successful and independent marketing industry in Canada.
Members of the Canadian Marketing Association recognize an obligation – to the consumers and businesses they serve, to the integrity of the discipline in which they operate and to each other – to practise to the highest standards of honesty, truth, accuracy, fairness and professionalism.
The Market
Copyright © 2013 Pearson Canada Inc. 1-22
“A market is a group of people (or organizations - or both)
Who have a similar need for products or services,
Who have the resources to purchase the product or service,
and the ability to purchase it.”
The Marketing Process
Copyright © 2013 Pearson Canada Inc. 1-23
The goal of marketing is to attract, retain, and maximize the value of a customer, so that organizational objectives (long term profits) are achieved.
Typical objectives: an increase in sales, profit, market share, image improvement
The Marketing Process The Marketing Plan
Assess Customer Needs
Identify and Select a Target
Develop Marketing Strategy
Develop Customer Relationship
Strategy
Evaluation and Control
1-24Copyright © 2013 Pearson Canada Inc.
AnalysisObjective Setting
Planning
Execution andMeasurement
Assessing Customer Needs
An organization collects information about needs to determine if a market is worth pursuing.
1-25Copyright © 2013 Pearson Canada Inc.
Market Analysis – Marketers consider market demand, sales potential, production capabilities and availability of resources.
Consumer Analysis – marketers monitor social, demographic and behaviour changes to detect new product opportunities.
Why did Coca-Cola launch Coca-Cola Zero? See p. 15 for details.
Target Market Identification and Selection
A target market is a group of people to which a company markets its products. The target has something in common: age, education, lifestyle, activity.
1-26Copyright © 2013 Pearson Canada Inc.
The Think Marketing box on p. 16 describes how Carslberg beer pursued a younger target.
Developing a Marketing Strategy: The Marketing Mix
Product
Price
MarketingCommunications
Distribution
MarketingMix
Consumeror Business Customer
1-27Copyright © 2013 Pearson Canada Inc.
Product Strategy
A product may possess tangible and intangible characteristics. Product decisions are numerous and embrace:
Quality
Features
Brand Name
Image
Size
Format
Service
Package Design
1-28Copyright © 2013 Pearson Canada Inc.
Product Differentiation
“A strategy that focuses marketing activity on the unique attributes or differential advantages of a brand to distinguish it from other brands.”
1-29Copyright © 2013 Pearson Canada Inc.
….Think fresh. Eat fresh.
Made from Canada
Price StrategyEstablishing a fair and equitable price for customers while being profitable for the organization. Price decisions consider the following:
Cost of manufacturing a good Desired profit level Degree of competition
1-30Copyright © 2013 Pearson Canada Inc.
Question: Apple sets its prices above the competition. How is that justified?
Distribution Strategy
The selection and management of marketing channels and the physical distribution of products.
Producers of Goods
Distributors of Goods
Consumer
A marketing channel is a series of firms that participate in the flow of goods and services from producers to final users.
1-31Copyright © 2013 Pearson Canada Inc.
Wholesalers and Retailers
Marketing Communications Strategy
Marketers now focus on an “integrated marketing communications” (IMC) strategy.
“The coordination of relevant forms of marketing communications in a unified program that maximizes the impact on consumers is referred to as integrated marketing communications.”
Key decision areas are:
• What message to deliver• What media or other forms of communications to deliver the message
1-32Copyright © 2013 Pearson Canada Inc.
IMC Mix
1-33Copyright © 2013 Pearson Canada Inc.
The IMC Mix is comprised of:
•Media Advertising (traditional media such as TV, radio, magazines, newspapers, and outdoor; and interactive media such as the Internet, social media and mobile communications.•Sales Promotions which offer incentives to encourage purchases.•Public Relations communications to improve brand image and reputation.•Experiential Marketing which engages consumers with brands in personal ways.
Building Relationships and Customer Relationship Management
Copyright © 2013 Pearson Canada Inc. 1-34
Marketing today is about building relationships -relationships with channel members and consumersRelationships of loyalty and referral.
CRM refers to strategies that optimize profitability, revenue, customer retention, and customer satisfaction. Successful CRM programs rely on a strong internal data management system.
Visual Model
Copyright © 2013 Pearson Canada Inc. 1-35
Under the Influence is a Canadian radio documentary series, presented by Terry O'Reilly, about the changing world of marketing for CBC Radio One. It premiered on January 7, 2012.
http://www.cbc.ca/radio/undertheinfluence/when-brands-mock-other-brands-1.2801749
Homework
•For Monday Sept 21, 2015
•Please read Chapters 1 & 2
•Hand in the UTI #1
Submission Completion
• Once you have clicked on Submit, your information goes directly to the Registrar’s Office at Fleming College.
• It takes approximately 24 hours for this information to be entered and you assigned a student number.
• I will email Mr. Jensen the list of student names and corresponding student ID numbers on Friday morning.
• Monday Sept 21st we will browse through the D2L learning system.