mktg 1 - overview of marketing - key slides

7/21/2019 MKTG 1 - Overview of Marketing - Key Slides

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Overview of Marketing

MKT 337Principles of Marketing



Agenda

Defining Marketing

Marketing Management Philosophies Production, Sales, Marketing & Societal Orientations

The Marketing Process



What is Marketing?



AMA Definition of Marketing

“ Marketing is the activit! set ofinstit"tions! and processes for

creating! comm"nicating!

delivering! and e#changingofferings that have val"e for

c"stomers! clients! partners! andsociet at large$%



&reating! &omm"nicating! ' Delivering (al"e

P r o

d " c t

P r i c e

P l a c e

P r o m

o t i o n

)#changeA *

Delivering(al"e &omm"nicating

(al"e

&reating(al"e&"stomer val"eand +eneficialrelationships



Wh is Marketing ,o -mportant?

* virt"e of who and what is involved.

Everyone is involved somehow, at multiple levels Enormous levels of resources are at stake

Competition is fierce

*alancing needs of vario"s stakeholders. Customers

Investorsshareholders

Employees Community

Society



Marketing ' *rand )/"it

Most (al"a+le 0lo+al *rands 1 245

0oogle 648$5 *illion 9 5:

Apple 6457$; *illion < 2:

-*M 647$= *illion < 5:

Microsoft 6;$2 *illion 9 2;:McDonalds 68$7 *illion < :

&oca<&ola 68$7 *illion 9 3:

(isa 67;$2 *illion 9 54:

AT'T 677$; *illion 9 3:

Marl+oro 6=7$3 *illion < 3:

Ama>on$com 6=5$3 *illion 9 54:

Source: Millward Brown



The Marketing &oncept

An organi>ations role is to satisfc"stomer wants and needs while

meeting organi>ational o+@ectives$



The Marketing &oncept

"ndamentall! marketing incl"des 2

core activities.

!" #iscover customers$ needs

%" Satisfy customers$ needs

With the "ltimate responsi+ilit ofgenerating reven"e for theorgani>ation

Note: “Customers” could be consumers or business buyers



&onditions for )#change

At Beast Two Parties

,omething of (al"e

&omm"nication and Deliver

reedom to Accept or Ce@ect

Desire to Deal with OtherPart

&onditions for)#change



Perceived (al"e



Marketing ManagementPhilosophies



A "ick Eistor Besson

Marketing Management Philosophies




,ales

Market

,ocietal

Prod"ction

Orientation Focus is on…




Prod"ction

,ales

Marketing

,ocietal

What can we make or do +est?

Eow can we sell more aggressivel?

What do c"stomerswant and need?

What do c"stomers wantFneed! andhow can we +enefit societ?

Orientation oc"s



,ales vs$ Market Orientations



&"stomer ,atisfaction

The customers’ evaluation of agood or service in terms of

whether that good or servicehas met their needs and

expectations.



Celationship Marketing

A strategy that focuses onkeeping and improvingrelationships with customers.

Successful relationship marketingstrategies depend upon:

Customer-Oriented Personnel

Efective Training Programs Empowered Employees

Teamwork



&"stomer Celationship Management

A company-wide businessstrategy designed to optimiepro!tability" revenue andcustomer satisfaction by

focusing on highly de!ned andprecise customer groups.

Accomplished +. Organi'ing around customer segments

Esta(lishing and tracking customer interactions

)ostering customer*satisfying (ehaviors +inkin com an rocesses




,ome ke /"estions we consistentl ask.

ho are our customers-

.ow do we discover and satisfy their needs-

/ and do so (etter than competitors/

/ while remaining profita(le/

/ in the short term and long term/

/ in an ethical & responsi(le manner




(ital Marketing Activities

Assess the wants and satisfaction of c"stomers

Design and manage prod"ct offerings

Determine prices and pricing policies

Develop distri+"tion strategies

&omm"nicate with present and potential c"stomers




0naly'ing

the Situation

Capturing

1alue

Creating

1alue

Strategic

Planning 2uyer 2ehavior

Marketing

Environment

Segmentation * 3argeting * Positioning

Product Promotion

Customer 4elationships

Price

Place

Marketing

4esearch

5lo(al

Marketing

Ethics & Social

4esponsi(ility

Price



The *readth ' Depth of Marketing

Who markets?

Companies

Politicalorgani'ations

5overnments

Individuals

What is marketed? Products

Services

Ideas

To whom? Industrial

(uyers

Consumers

6ltimate users

mktg 1 - overview of marketing - key slides

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