File - Jenne Meyer PhD

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BUS7450

Strategic Marketing

Management

Week 1

Dr. Jenne Meyer

BUS7500

Introductions

Who are you?

Where do you work?

Experience with Marketing or Product Management?

Expectations of this course?

Your first concert or fun fact

Discuss syllabus

Weekly article presentations

Final call project presentation

Class schedule (April 5 th

, *April 12 th

, *April 26 th

)

Groundrules

1

Defining Marketing for the 21

st

Century

Chapter Questions

Why is marketing important?

What is the scope of marketing?

What are some fundamental marketing concepts?

How has marketing management changed?

What are the tasks necessary for successful marketing management?

What is Marketing?

Marketing

is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.

Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall

1-5

What is Marketing Management?

Marketing management

is the

art and science

of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.

Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall

1-6

What is Marketed?

What is Marketed?

What in this class is marketed?

What in this class is not marketed?

How are you impacted at work by marketing?

How are you impacted at home by marketing?

What do you like about marketing?

What don’t you like about marketing?

What is Marketed?

• Goods

• Services

• Events

• Experiences

• Persons

• Places

• Properties

• Organizations

• Information

• Ideas

Demand States

Negative

Nonexistent

Latent

Declining

Irregular

Unwholesome

Full

Overfull

Figure 1.1 Structure of Flows in

Modern Exchange Economy

Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall

1-10

Figure 1.2

A Simple Marketing System

Key Customer Markets

Consumer markets

Business markets

Global markets

Nonprofit/Government markets

Core Concepts

Needs, wants, and demands

Target markets, positioning, segmentation

Offerings and brands

Value and satisfaction

Marketing channels

Supply chain

Competition

Marketing environment

Marketing planning

Types of Needs

Stated

Real

Unstated

Delight

Secret

Target Markets,

Positioning & Segmentation

Separate into groups based on the following

Coffee v hot chocolate

Car v truck/SUV

Over v under

Cable v satellite

Kids v no kids

Offerings and Brands

Value and Satisfaction

Marketing Channels

Communication

Distribution

Service

Marketing Environment

Demographic Economic

Socio-cultural

Political-legal

Technological

Natural

Major Societal Forces

Network information technology

Globalization

Deregulation

Privatization

Heightened competition

Industry convergence

Retail transformation

Disintermediation

Consumer buying power

Consumer participation

Consumer resistance

Company Orientations

Production

Product

Selling

Marketing

Holistic Marketing

Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall

1-22

Relationship Marketing

Customers

Employees

Marketing Partners

Financial Community

Integrated Marketing

Internal Marketing

Internal marketing

is the task of hiring, training, and motivating able employees who want to serve customers well.

Performance Marketing

Financial

Accountability

Social Responsibility

Marketing

Types of

Corporate Social Initiatives

Corporate social marketing

Cause marketing

Cause-related marketing

Corporate philanthropy

Corporate community involvement

Socially responsible business practices

The Marketing Mix

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1-28

The Four Ps

The New Four Ps

People

Processes

Programs

Performance

The Old Four Ps

Product

Placement

Promotion

Pricing

Marketing Management Tasks

Develop market strategies and plans

Capture marketing insights

Connect with customers

Build strong brands

Shape market offerings

Deliver value

Communicate value

Create long-term growth

Video

 http://www.pbs.org/wgbh/pages/frontline/show s/cool/

Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall

1-31

Class wrap up

What is due for next week

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