BUS222day2

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Day 2
BUS 222
1-1
Agenda
• Class roll call
• Questions
• Assignment 1 posted
– Due Feb 2 @ 2 PM
– Marketing Assignment 1.pdf
• Overview of Marketing
Copyright 2005 Prentice Hall
Ch 1 -2
1-2
OVERVIEW OF
MARKETING
McGraw-Hill/Irwin
01
Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved.
1-3
Overview of Marketing
LEARNING OBJECTIVES
LO1 Define the role of marketing in
organizations.
LO2 List the elements of the marketing mix.
LO3 Describe how marketers create value for a
product or service.
LO4 Understand why marketing is important
both within and outside the firm.
1-4
Ryan Anson/AFP Getty Images
Apple
How does this company
provide value?
1-5
What is Marketing?
Marketing is an organizational function
and a set of processes for creating,
capturing, communicating, and
delivering value to customers and for
managing customer relationships in ways
that benefit the organization and its
stakeholders.
1-6
What is value?
1-7
What is Marketing?
1-8
Marketing is about Satisfying Customer
Needs and Wants
• What group is Crest
targeting with this ad?
• What other benefits
of toothpaste might
Crest advertise?
• What groups might
these benefits appeal
to?
©Procter & Gamble
1-9
Marketing Entails an Exchange
1-10
Marketing Requires Product,
Price, Place, and Promotion Decisions
1-11
Product: Creating Value
• The fundamental
purpose of Marketing
is to create value by
developing a variety
of offerings, including
goods, services, and
ideas, to satisfy
customer needs.
Goods
Royalty-Free/Corbis
Services
Flying Colours Ltd./Getty Images
Ideas
Roz Wodward/Getty Images
1-12
Price: Capturing Value
• Price is everything a buyer gives up (money, time,
energy) in exchange for the product
• The key to determining prices is to figure out how
much customers are willing to pay and assess
whether a profit can be made at that point
1-13
Place: Delivering the Value Proposition
• Place, or supply chain
management, describes
all activities necessary to
get the product to the
right customer when the
customer wants it
• Where would you find this
product in the store?
Courtesy Horizon Organic Dairy
1-14
Superior Service: AT&T?
Courtesy AT&T; Agency: BBDO/Atlanta; Artist: Guido Daniele; Photographer: Andric
1-15
Luxury Hotels
1-16
Promotion: Communicating Value
• Promotion is
communication by a
marketer that informs,
persuades, and
reminds potential
buyers about a
product or service to
influence their
opinions or elicit a
response
Photo by Paul Hawthorne/Getty Images
1-17
Marketing Can be Performed by
Individuals and Organizations
ETSY Website
1-18
Marketing Impacts Stakeholders
Society
Customers
Employees
Supply
Chain
Courtesy National Fluid Milk Processor Promotion Board;
Agency: Lowe Worldwide, Inc.
1-19
Marketing Helps Create Value
1
2
3
4
5
1. H.Armstrong Roberts/Retrofile/Getty Images 2. Jamie Grill/Iconica/Getty Images 3. ©Ted Dayton Photography/Beateworks/Corbis
4. Ciaran Griffin/Stockbyte/Getty Images 5. ©Colin Anderson/Blend Images/Corbis
1-20
Value-Based Marketing
“Pure Dark Chocolate
Light Exquisite Cookie”
1-21
Check Yourself
1. What is the definition of marketing?
2. Marketing is about satisfying ______ and
______ .
3. What are the four components of the
marketing mix?
4. Who can perform marketing?
5. What are the various eras of marketing?
1-22
Value Driven Companies
• Share information
across their
organization
• Balance customer’s
benefits and costs
• Build relationships
with customers
1-23
Companies that Put the
Customer First
1-24
Value Based Marketing
Photo by Christopher Peterson/BuzzFoto/FilmMagic/Getty Images
1-25
Target is Value Driven
©Lars A. Niki
Target Commercial
1-26
Check Yourself
1.
Does providing a good value mean
selling at a low price?
2.
What type of relationship is best for
providing value to customers?
1-27
Andrew Ward/Life
File/Getty Images
©Roy McMahon/Corbis
©Edward Rozzo/Corbis
BananaStock/JupiterImages
Jason Reed/Getty Images
Digital Vision/Getty Images
Why Is Marketing Important?
1-28
Marketing and Society
Focusing on many factors
Product
Marketing
practices
Communities
Environment
©M. Hruby
1-29
Marketing Enriches Society
Photo by Thomas Cooper/Getty Images
Oprah's Angel Network
1-30
Marketing Can Be Entrepreneurial
Ben & Jerry’s Product Mission
To make, distribute, and sell the finest quality all natural
ice cream and euphoric concoctions with a continued
commitment to incorporating wholesome natural
ingredients and promoting business practices that
respect the Earth and the Environment
Ben & Jerry’s Website
Ben & Jerry’s Commercial
1-31
Check Yourself
1.
List five factors that emphasize the
importance of marketing.
2.
A firm doing the right thing emphasizes
the importance of marketing to society
1-32
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