Marketing Management Intro Lecture Recap

Marketing Management
Intro Lecture Recap
Ernie Timmons
Faye Timmons
Mike Barrett
Seth Chadwick
• What is Marketing?
• The management process through which goods and services
move from concept to the customer. It includes the
coordination of four elements called the 4 P's of marketing:
Identification, selection and development of a product,
Determination of its price,
Selection of a distribution channel to reach the customer's
place, and
Development and implementation of a promotional strategy.
Marketing Evolution
Marketing Evolution: Key dates
• 1450: Gutenberg's metal movable type, leading eventually to mass-production of flyers and
• 1836: first paid advertising in a newspaper (in France)
• 1864: earliest recorded use of the telegraph for mass unsolicited spam
• 1867: earliest recorded billboard rentals
• 1880s: early examples of trademarks as branding
• 1908: Harvard Business School opens
• 1922: radio advertising commences
• 1941: first recorded use of television advertising
• 1950s: systematization of telemarketing
• 1980s: development of database marketing as precursor to CRM[5]
• 1980s: emergence of relationship marketing
• 1980s: emergence of computer-oriented spam
• 1990s CRM and IMC (in various guises and names) gain dominance in promotions and
marketing planning,[7][8]
• 1995-2001: the Dot-com bubble temporarily re-defines[citation needed] the future of
• 2000s: Integrated marketing gains acceptance and in 2002 its first dedicated academic research
Marketing Approaches
• Value
• Customer Focus
• Exchange
• Transaction Focused
Either approach involves providing a Product or Service the buyer
perceives as valuable
Customer Orientation
SIVA (Solution, Information, Value, Access).
• Renames four Ps to provide a customer focus. The SIVA Model
provides a demand/customer-centric alternative to the wellknown 4Ps of marketing management.
Place (Distribution)
• That which provides value to customer
• Constructive Criticism helps marketers adapt product offerings
to meet changing customer needs
Marketing vs. Advertising
• Advertising: The paid, public, non-personal announcement of
a persuasive message by an identified sponsor; the nonpersonal presentation or promotion by a firm of its products
to its existing and potential customers.
• Marketing: The systematic planning, implementation and
control of a mix of business activities intended to bring
together buyers and sellers for the mutually advantageous
exchange or transfer of products.
• Single component of the marketing process.
• Part of Promotion - getting the word out
• Includes the placement of an ad in such mediums as
newspapers, direct mail, billboards, television, radio, and the
• Largest expense of most marketing plans, with public relations
following in a close second and market research not falling far
Successful Ad Campaigns
• Just Do It
Nike adopted this slogan in 1988 while in the midst of financial difficulties.
Successful Ad Campaigns
• Think Small
Volkswagen has produced what seems like an infinite number of clever advertising
slogans and campaigns over the years, but perhaps the most highly regarded of them
was their 1959 slogan, "Think Small." Volkswagen was trying to sell their small Beetle
in a time when big cars were the norm.
Successful Ad Campaigns
• Have You Had Your Break Today?
McDonald's is another company that has come up with a phenomenal number of
catchy slogans over the years. In 1995, McDonald's asked consumers a simple
question in their advertisements: "Have You Had Your Break Today?" This catchy
slogan provided a revamp to the successful 1980 slogan, "You Deserve a Break Today."
Successful Ad Campaigns
• A Diamond Is Forever
This simple slogan was launched back in 1947, and is still in use today.
Successful Ad Campaigns
• Got Milk?
This long-running slogan was first launched in 1993 to encourage consumers to drink
more milk. Many of the ads that use this slogan feature celebrities with milk mustaches,
or individuals trying to swallow sticky food items that are in need of a refreshing drink
to wash it down.
• Cost of Product
• Value the Product provides to Customer
• Depends on Economic Factors
• Take into Account Marketing Mix
• Where product is available or where transaction takes place
• With Internet, Place is everywhere for most non-essential
• If you do not have the proper place you cannot compete in
some industries
• Make it easy to buy a product
Example of Brand Loyalty
• Coke vs. Pepsi