Week 1 Dr. Jenne Meyer
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
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?
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?
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
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
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
Communication Distribution Service
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
Production Product Selling Marketing
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-22
Customers Employees Marketing Partners Financial Community
Internal Marketing Internal marketing
is the task of hiring, training, and motivating able employees who want to serve customers well.
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
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 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
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