WELCOME TO MARKETING I – MKTG 1200 – This class requires high levels of participation. Expectation: Turn on your cameras during our classes. Sheldon Koufman sheldon.koufman@durhamcollege.ca Note: This session will be recorded Out with the Old Spice… Start at 2:39, End 4:02 So what did they do? What happened? ◦ Old Spice realized that women do 60% of the male grooming purchases ◦ Targeting women is super important to get a share in the market ◦ Results ◦ 125% sales increase within 6 Months ◦ Became the #1 selling body wash ◦ Use of social media like no one else before ◦ Did not pay for Super Bowl Commercial, used SM instead ◦ Rebrand with one commercial – 50 years younger – not the old brand anymore Course Learning Outcomes Introductions… What is your name? Why are you here? Unique fact about you? My Story… Expectations For The Classroom For the Instructor Expectations For The Classroom Cell Phones/Devices Academic Honesty For the Instructor Communication Time to respond Methods Marking Time DC Connect – This is where you find the documents you need… Critical Path Document This is your guide to the course … become best friends with it! Deliverables … Deliverable Weighting Term Test #1 15% Term Test #2 15% MINDTAP Chapter Activities 15% In-Class Assignments (not in class) 15% Term Project – Presentation 10% Term Project – Report 20% Professional Development 10% Textbook (Presentation later today)… You must purchase access to online MindTap Resources MINDTAP Chapter Activities… In-Class Assignments… ◦ Individual or in groups ◦ Helps solidify your understanding of that week’s topic ◦ Critical Path document outlines which week we will be having an assignment ◦ You will be able to drop your lowest mark of the nine Assignments Term Project ◦ You will explore the launch of a product into a new market ◦ The product choice is yours ◦ The market choice is yours ◦ You will come up with a Marketing Plan to support/justify the launch ◦ More info to come in Week #5 Professional Development NOTE: ◦ Not all topics covered in the textbook are covered in class ◦ Also, not all topics covered in class are covered in the textbook ◦ HOWEVER – all are required learning for this course – you will be assessed on it 3 Hours Per week 2 Hours in Class 1 Hour at Home •1:10 PM to 3 PM •Work on Assignment CHAPTER 1 An Introduction to Marketing What Is Marketing? What Is Marketing? https://app.mural.co/invitation/mural/durhamcolleg e1559/1631043738355?sender=ucd514e979dd917771 0a73310&key=88713430-8ba2-4c06-868fa9e44eda8ab2 What Is Marketing? ◦Two definitions in our textbook… ◦ Marketing is about understanding the needs of the customer. ◦ The activities that develop an offering in order to satisfy a customer need What need is this fulfilling? What need is this fulfilling? What need is this fulfilling? Marketing Concept Focus on customer wants and needs so that the organization can distinguish its offerings from those of its competitors Integrate all the organization’s activities including production to satisfy customer wants Achieve long-term goals for the organization by satisfying customers’ wants and needs legally and responsibly We are seeing changes… ◦ A conversation with the customer rather than a distraction ◦ The conversation is being led in innovative ways where the consumer talks back The Evolution of Marketing Production Era Sales Era Marketing Company Era Societal Marketing Era Relationship Marketing Era Production Era “If you build it, they will come.” Limited choice for consumers – no competition Sales Era ◦Customer choice exists ◦Convince the consumer to buy ◦The focus is on the hard sell Dr. Peter Drucker – 1909-2005 “There will always, one can assume, be a need for some selling. But the aim of marketing is to make selling superfluous. The aim of marketing is to know and understand the customer so well that the product or service fits him and sells itself. Ideally, marketing should result in a customer who is ready to buy.” Marketing Company Era ◦ Customers are grouped into segments ◦ Marketers work to understand the segments ◦ Segments become targets ◦ Persuasion and marketing become intermixed ◦ Customers have choice – they become shrewd as well Societal Marketing Orientation ◦ What if giving what the consumer wants is actually not good for the consumer or for the environment … ◦ This has led to new movements ◦ Recycling ◦ Reduced waste ◦ Greater awareness of dietary and safety issues with products McDonald’s shift… ◦ The Happy Meal and the toy, critics claim, was a way to attract young people ◦ McDonald’s responded by improving the perceived healthiness of the Happy Meals —adding apple slices and yogurt. ◦ They have most recently included books as the toy Relationship Marketing Orientation ◦ From interruption to interaction ◦ Engagement is the focus. ◦ Customer-based strategies encourage the engagement: ◦ Customer satisfaction ◦ Relationship marketing Engagement Customer Satisfaction ◦ Focus on delighting the customer ◦ Retention ◦ Great ROI—2% increase in retention is equal to a 10% decrease in costs Relationship Marketing ◦ Keeping and improving relationships with customers ◦ Customers preference— longstanding relationship Customer Relationship Management Listen to the customer Act upon customer desires Share stories Trust Exchange ◦People giving up one thing to receive another that they would rather have Customer Value ◦ The relationship between benefits and the sacrifice to achieve the benefits ◦ Customers value goods and services that are ◦ of the quality that they expect ◦ sold at prices they are willing to pay Coming up… ◦ Get your access to Textbook, DC Connect, MindTap ◦ Readings ◦ Chapter 2 ◦ MINDTAP Chapter Activity: Chapter 1 – Due Email me if you have any questions
