What is marketing.ppt@ mba
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Transcript of What is marketing.ppt@ mba
What is Marketing
Discussion Questions
What is marketing? What can marketers market? What types of decisions do marketers
make?
Marketing and Exchange
Marketing is an exchange between a firm and customer
CompanyCompany
CustomerCustomerThe customer seeks benefits from the
company,and expects to pay.
The company offers benefits to its
customers,and seeks profits.
Discussion Questions
Why might an exchange NOT occur? What is the long term benefit to having
satisfaction in an exchange?
What Can We Market?
What Can We Market?
Orientations
Product/Production Build a better mousetrap
Selling Orientation Let’s make a Deal
Marketing/Customer Building relationships with the customer
Discussion Question
Assume you are marketing pens. Can you describe how you would market under a product orientation compared to a customer orientation?
Marketing IS the Business
Marketing should permeate the entire organization
Chief Marketing Officers (CMO) need to show results Quantify results when possible
Marketing Framework
Start with a Situational Analysis using the 5Cs
Marketing Framework
Customers Who are they? What are they like? Do we want to draw different customers?
Company What are our strengths and weaknesses? What customer benefits can we provide?
Marketing Framework
Context What is happening in our industry that might
reshape our future business?
Collaborators Can we address our customers’ needs while
strengthening our B2B partnerships?
Marketing Framework
Competitors Who are the competitors we must consider? What are their likely actions and reactions?
Marketing Framework
Proceed to Strategic Marketing Planning with STP
Marketing Framework
Segmentation Customers aren’t all the same; they vary in their
preferences, needs, and resources Targeting
Attracting some of those customers makes better sense than going after others
Positioning Communicate your benefits clearly to your
intended customers
Marketing Framework
Advance to Marketing Tactics with the 4Ps
Marketing Framework
Product Will customers want what your company is
prepared to produce?
Price Will customers pay what you’d like to charge?
Marketing Framework
Place Where and how will customers purchase your
market offering?
Promotion What can you tell your customers or do for them
to entice them to purchase?
Framework Considerations
5 Cs, STP and 4 Ps are interdependent Marketers must understand how one decision
impacts other decisions
The 5 Cs are in flux Marketers must consistently monitor and adjust
strategy accordingly
Discussion Question
How can one judge whether or not marketers made the “right” decisions?
Types of Shopping
Types of Shopping
Purchase Decision Making
Models for How Buyers Decide
Lexicographic method Compare brands by most important attribute;
brands that make the cut go into consideration set; then compare on next important attribute, etc.
Average method One attribute can’t make or break a brand
Use attribute importance Assists with segmentation
B2B Customers
Classifications Installations Accessories Raw materials Components Business services
Most important classification is whether a business cares about a purchase
B2B Customers
More complex decision making due to different roles within a business: Initiators Users Influencers Buyers
Each role may sleek slightly different attributes
This Book…
Assumes global customers Assumes omnipresence of the Internet Gives fresh, fun examples Trains you to think like a marketer Defines terms as necessary Offers lists of factors to consider Gives “how to” guidance when feasible
This Book…
Each chapter opens with the Marketing Framework to maintain a focus on the big picture while also highlighting key concepts and tools about to be covered.
This Book…
Begins each chapter with coverage of “What” is the topic and “Why” it should matter to you
Every chapter then addresses the question of “How do I do this successfully?”
Book Layout