Objectives Course Organization Tasks of Marketing Major Concepts Tools of Marketing Marketplace Orientations Marketing's Responses to New Challenges
Objectives Course Organization Tasks of Marketing Major Concepts & Tools of Marketing Marketplace Orientations Marketing’s Responses to New Challenges
Defining Marketing Marketing is a societal process by which individuals and groups obtain what they need and want through creating,offering,and freely exchanging products and services of value with others. Philip Kotler (p.7)
Defining Marketing Marketing is a societal process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others. - Philip Kotler (p. 7)
Simple Marketing System Communication Goods/services Industry Market (a collection (a collection of sellers) Money of Buyers) Information
Simple Marketing System Industry (a collection of sellers) Market (a collection of Buyers) Goods/services Money Communication Information
Company Orientations Towards the Marketplace Consumers prefer products that are Production Concept widely available and inexpensive Consumers favor products that Product Concept offer the most quality,performance, or innovative features Consumers will buy products only if Selling Concept the company aggressively promotes/sells these products Focuses on needs/wants of target Marketing Concept markets delivering value better than competitors
Production Concept Product Concept Selling Concept Marketing Concept Consumers prefer products that are widely available and inexpensive Consumers favor products that offer the most quality, performance, or innovative features Consumers will buy products only if the company aggressively promotes/sells these products Focuses on needs/ wants of target markets & delivering value better than competitors Company Orientations Towards the Marketplace
Objectives 0 Define value satisfaction understand how to deliver them The nature of high-performance businesses How to attract retain customers Improving customer profitability Total quality management
Objectives Define value & satisfaction - understand how to deliver them The nature of high-performance businesses How to attract & retain customers Improving customer profitability Total quality management
High Performance Business Set strategies to satisfy key. Stake- holders By improving Processes critical business. and aligning. Resources Organization
Resources Organization and aligning. High Performance Business Processes By improving critical business. Stakeholders Set strategies to satisfy key
Satisfied Customers: Are loyal longer Buy more (new products upgrades) 0 Spread favorable word-of-mouth Are more brand loyal (less price sensitive) 0 Offer feedback 0 Reduce transaction costs
Satisfied Customers: Are loyal longer Buy more (new products & upgrades) Spread favorable word-of-mouth Are more brand loyal (less price sensitive) Offer feedback Reduce transaction costs
Customer Development Suspects First-time Prospects Repeat Clients Advocates Partners customers customers Disqualified prospects Inactive or ex-customers
Inactive or ex-customers Customer Development Clients Advocates Partners Repeat customers First-time customers Suspects Prospects Disqualified prospects
Customer/Product Profitability Analysis Customers C2 C3 P + Highly P1 profitable r product d P2 + Profitable product P3 Losing product t P4 Mixed-bag product High profit Mixed-bag Losing customer customer customer
Customer/Product Profitability Analysis P1 Highly profitable product P2 Profitable product P3 Losing product P4 Mixed-bag product P r o d u c t s + + + High profit customer + - Mixed-bag customer + - - Losing customer C1 C2 C3 Customers
Objectives Corporate and division strategic planing 0 Business unit planning The marketing process Product level planning The marketing plan
Objectives Corporate and division strategic planing Business unit planning The marketing process Product level planning The marketing plan