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OVERVIEW OF MARKETING
LEARNING OBJECTIVES

What is the role of marketing in organizations?

How do marketers create value for a product or
service?

Why is marketing important both within and
outside the firm?
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Building Value Online
How do these companies
provide value?
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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.
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What is Marketing?
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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?
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Marketing Entails an Exchange
Goods/Services
Producers (Sellers)
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Marketing Requires Product,
Price, Place and Promotion Decisions
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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.
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Goods
Services
Ideas
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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
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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?
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Superior Service Ritz-Carlton
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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
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Marketing Can be Performed by
Individuals and Organizations
ETSY Website
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Marketing Impacts Stakeholders
Society
Employees
Customers
Supply
Chain
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Marketing Helps Create Value
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Value-Based Marketing
“Pure Dark Chocolate
Light Exquisite Cookie”
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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?
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Value Driven Companies

Share information
across their
organization

Balance customer’s
benefits and costs

Build relationships with
customers
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Value Based Marketing
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Target is Value Driven
Target Commercial
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Check Yourself
1.
What are the two methods for increasing
value?
2.
How can a firm become value driven?
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Marketing and Society
Focusing on many factors
Product
Marketing
practices
Communities
Environment
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Marketing Enriches Society
Oprah's Angel Network
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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
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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
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Ben & Jerry’s Commercial
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Glossary
Exchange is the trade of things of value between
the buyer and the seller so that each is better off
as a result.
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Glossary
Goods are items that you can physically touch.
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Glossary
Ideas include thoughts, opinions, and philosophies,
and intellectual concepts which can be marketed.
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Glossary
A supply chain is the group of firms that make and
deliver a given set of goods and services.
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Glossary
Value reflects the relationship of benefits to costs.
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