Transcript
Copyright © 2011 by The McGraw-Hill Companies, Inc. All rights reserved.McGraw-Hill/Irwin
Define marketing and identify the diverse factors influencing marketing activities.
LO1
Explain how marketing discovers and satisfies consumer needs.
Distinguish between marketing mix factors and environmental forces.LO3
LO2
LEARNING OBJECTIVES (LO)
AFTER READING CHAPTER 1, YOU SHOULD BE ABLE TO:
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Explain how organizations build strong customer relationships and customer value through marketing.
Describe how today’s customer relationship era differs from prior eras.
LO4
LO5
LEARNING OBJECTIVES (LO)
AFTER READING CHAPTER 1, YOU SHOULD BE ABLE TO:
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RESEARCHING HOW COLLEGE STUDENTS STUDY TO LAUNCH A NEW PRODUCT AT 3M
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INNOVATION AND MARKETING AT 3M DISCOVERING & SATISFYING STUDENT STUDY NEEDS
+Felt Tip Highlighters
=3M product that
will combinePost-it® Notes or
Post-it® Flags andHighlighters
3M Post-it® Notes or Post-it® Flags
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Marketing is NOT Easy
WHAT IS MARKETING ?LO1
You Are a Marketing Expert Already
• Involved in 1,000s of Buying Decisions
• May Be Involved in Selling Decisions
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1. True 2. True 3. (c) plastic bottles
FIGURE 1-1FIGURE 1-1 The see-if-you’re-really-a-marketing-expert test
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MARKETING MATTERSPayoff for the Joys (!) and Sleepless Nights (?)
of Starting Your Own Small Business: YouTube!!!!
LO1
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Marketing Seeks to:
Exchange
• Discover Needs and Wants of Customers
• Satisfy Them
WHAT IS MARKETING?DELIVERING BENEFITS
LO1
AMA Definition of Marketing
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WHAT IS MARKETING?DIVERSE FACTORS INFLUENCE MARKETING ACTIVITIES
LO1
The Organization Itself and Its Departments
Society
Environmental Forces
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FIGURE 1-2FIGURE 1-2 A marketing department relates to many people, organizations, and environmental forces
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HOW MARKETINGDISCOVERS CONSUMER NEEDS
THE CHALLENGE: NEW PRODUCTS
LO2
Consumers May Not Know or Cannot Describe What They Need or Want
Most New Products Fail
• “Focus on the Consumer Benefit”
• “Learn From the Past”
The Challenge:
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Dr. Care Vanilla-Mint Aerosol ToothpasteWhat “benefits” and what “showstoppers?”
LO2
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Hot Pockets Sideshots Microwaveable SnacksWhat “benefits” and what “showstoppers?”
LO2
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AT&T CruiseCastWhat “benefits” and what “showstoppers?”
LO2
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Pepsi MaxWhat “benefits” and what “showstoppers?”
LO2
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Need Want
Does Marketing PersuadePeople to Buy the“Wrong” Things?
Market
HOW MARKETINGDISCOVERS CONSUMER NEEDS
NEEDS VS. WANTS
LO2
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FIGURE 1-3FIGURE 1-3 Marketing seeks to discover consumer needs through research and then satisfy them with a marketing program
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HOW MARKETINGSATISFIES CONSUMER NEEDS
LO3
• Promotion
• Place
Target Market
The 4 P’s: Controllable Marketing Mix Factors
• Product
• Price $199
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HOW MARKETINGSATISFIES CONSUMER NEEDS
LO3
• Technological
• Regulatory
Uncontrollable Environmental Forces
• Social
• Economic
• Competitive
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THE MARKETING PROGRAMCUSTOMER VALUE AND RELATIONSHIPS
LO4
• Best Price
• Best Service
Customer Value
• Best Product
Value Strategies
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Southwest Airlines, Starbucks, and Home DepotWhat customer value strategy?
LO4
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THE MARKETING PROGRAMRELATIONSHIP MARKETING
LO4
• Easy to Understand
Relationship Marketing
• Hard to Do
Marketing Program
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3M’S STRATEGY & MARKETING PROGRAMHELPING STUDENTS STUDY
LO4
Move from Ideas toa Marketable Highlighter Product
Add the Post-it®
Flag Pen
Develop a Marketing Program for thePost-it® Flag Highlighter and Pen
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FIGURE 1-4FIGURE 1-4 Marketing programs for two new 3M Post-it® brand products targeted at two distinct customer segments: college students and office workers
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3M STRATEGY & MARKETING PROGRAMMARKETPLACE SUCCESS?
LO4
Developed SecondGeneration Post-it®
Flag Highlighter
Appeared onThe Oprah Winfrey Show
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FIGURE 1-AFIGURE 1-A Four different orientations in the history of American business
Production Era
Sales Era
Marketing Concept Era
Customer Relationship Era
• Market Orientation
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HOW MARKETING BECAME IMPORTANTEVOLUTION OF THE MARKET ORIENTATION
LO5
Customer RelationshipManagement (CRM)
Customer Experience
• Direct Contact from Buying the Service
• Indirect Contact via Unplanned “Touches”
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HOW MARKETING BECAME IMPORTANTETHICS AND SOCIAL RESPONSIBILITY
LO5
Ethics
Social Responsibility
• Societal Marketing Concept
• Social Entrepreneurship
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HOW MARKETING BECAME IMPORTANTBREADTH AND DEPTH OF MARKETING
LO5
Who Markets?
What Is Marketed?
• Goods • Services • Ideas 1-30
HOW MARKETING BECAME IMPORTANTBREADTH AND DEPTH OF MARKETING
LO5
Who Benefits?
Who Buys & Uses What Is Marketed?
• Ultimate Consumers
• Organizational Buyers
How Do Consumers Benefit?: Utility
• Form Utility
• Place Utility
• Time Utility
• Possession Utility 1-31
3M’S POST-IT® FLAG HIGHLIGHTER: EXTENDING THE CONCEPT!
VIDEO CASE 1
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VIDEO CASE 13M’s Post-it® Flag Highlighter
1. (a) How did 3M’s David Windorski get ideas from college students to help him in designing the final commercial version of the Post-it® Flag Highlighter?(b) How were these ideas important to the success of the product?
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2. What (a) special advantages and (b) potential problems did 3M have in introducing a new highlighter-with-flags product for college students?
VIDEO CASE 13M’s Post-it® Flag Highlighter
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3. Visit your college bookstore before you answer. (a) Where would you display the Post-it® Flag Highlighter in a college bookstore, and (b) How can the display increase student awareness of the product?
VIDEO CASE 13M’s Post-it® Flag Highlighter
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4. In what ways might 3M try to promote its Post-it® Flag Highlighter and make students more aware of the product?
VIDEO CASE 13M’s Post-it® Flag Highlighter
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5. What are (a) the special opportunities and (b) potential challenges for 3M in taking its Post-it® Flag Highlighter into international markets? (c) On which countries should 3M focus its marketing efforts?
VIDEO CASE 13M’s Post-it® Flag Highlighter
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Marketing
Marketing is the activity for creating, communicating, delivering, and exchanging offerings that benefit the organization, its stakeholders,and society at large.
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Exchange
Exchange is the trade of thingsof value between buyer and seller so that each is better off after the trade.
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Market
A market consists of people with both the desire and the ability to buy a specific offering.
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Target Market
A target market consists ofone or more specific groups of potential consumers towardwhich an organization directs its marketing program.
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Marketing Mix
The marketing mix consists of the controllable factors—product, price, promotion, and place—that can be used by the marketing manager to solve a marketing problem.
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Environmental Forces
Environmental forces consistof the uncontrollable social, economic, technological, competitive, and regulatoryforces that affect the results ofa marketing decision.
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Customer Value
Customer value is the unique combination of benefits received by targeted buyers that includes quality, convenience, on-time delivery, and both before-saleand after-sale service at aspecified price.
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Relationship Marketing
Relationship marketing linksthe organization to its individual customers, employees, suppliers, and other partners for theirmutual long-term benefit.
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Marketing Program
A marketing program is a plan that integrates the marketing mix to provide a product, service, or idea to prospective buyers.
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Marketing Concept
A marketing concept is theidea that an organization should strive to satisfy the needs of consumers while also trying to achieve the organization’s goals.
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Market Orientation
A market orientation occurs when an organization focuses its efforts on (1) continuously collecting information about customers’ needs, (2) sharing this information across departments, and (3) using it to create customer value.
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Societal Marketing Concept
Societal marketing concept is the view that organizations should discover and satisfy the needs of its consumers in a way that also provides for society’s well-being.
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Ultimate Consumers
Ultimate consumers consist of the people who use the productsand services purchased for a household. Also called consumers, buyers, or customers.
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Organizational Buyers
Organizational buyers arethose manufacturers, wholesalers, retailers, and government agencies that buy products and services for their own use or for resale.
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Utility
Utility consists of the benefits or customer value received by users of the product.
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