AN OVERVIEW OF MARKETING
Jan 11, 2016
AN OVERVIEW OF MARKETING
MARKET PLANNING UNITENDURING UNDERSTANDING
STUDENTS WILL UNDERSTAND THAT…….
Marketing is customer focused.Marketing is much more than
advertising and selling.A marketing plan is a roadmap for
all companies' business efforts.
ESSENTIAL QUESTIONS • What is marketing?• How do marketers find their
customers?• What makes marketing
dynamic?• What causes a business to
"close its doors"?
WHAT IS MARKETING?
• A Philosophy
• An Attitude
• A Perspective
• A Management Orientation
A Set of Activities
Financing
Selling
Distribution
Promotion
Pricing
Marketing Information Management
Product Service Management
WHAT IS MARKETING?
Marketing is an organizational function and a set of processes for creating,
communicating, and delivering value to customers and for managing customer relationships in ways that benefit the
organization and its stakeholders.
American Marketing Association Definition
WHAT IS MARKETING?
Product
Price
Place
Promo
tion
ExchangeExchangeA BA B
CreatingValueCustomer value
and beneficial relationships
Customer valueand beneficial relationships
WHY STUDY MARKETING?
Describe several
reasons for studying
marketing
REASONS FOR STUDYING MARKETING
Why Study Marketing?Why Study Marketing?
Importantto
Society
Importantto
Society
Importantto
Business
Importantto
Business
GoodCareer
Opportunities
GoodCareer
Opportunities
+Marketing affects you every day!
MARKETING MANAGEMENT PHILOSOPHIES
Describe four marketing
management philosophies
MARKETING MANAGEMENT PHILOSOPHIES
Sales1930 -1940’s
Market1950-1970
Societal1980 to present
Production1900-1920’s internal capabilities of the firm. Emphasis on
producing and distributing new products
satisfying customer needs and wants while meeting objectives
satisfying customer needs and wants while enhancing individual and societal well-being
aggressive sales techniques and belief that high sales result in high profits
Orientation Focus is on…
MARKET ORIENTATION
Marketing Concept:
The idea that the social and economic justification for an organization’s existence is the satisfaction of customer wants and needs while meeting organizational objectives
THE MARKETING CONCEPT Focusing on customer wants and needs to distinguish products from competitors’ offerings
Integrating all the organization’s activities to satisfy these wants
Achieving the organization’s long-term goals by satisfying customer wants and needs legally and responsibly
School bag activity
ACHIEVING A MARKETING ORIENTATION Obtain information about customers,
competitors, and markets
Examine the information from a total business perspective
Determine how to deliver superior customer value
Implement actions to provide value to customers
FAILURE TO SUCCESS
HOW SHOULD A BUSINESS BE DEFINED?Company Product-
Oriented Answer
Market-Oriented Answer
Kodak We make cameras
We help preserve memories
Verizon We sell cell phones
Coke We make soda
Levi We make jeans
Nike We design athletic shoes
Lexus We build cars
McDonald’s We sell fast food
AVOIDING MARKETING MYOPIA
Marketing myopia—Focusing on products/company rather than the customer. Results in failure to see and adjust to the rapid market changes.
An organization exists not only to satisfy customer wants but also to preserve or enhance individuals’ and society’s long-term best interests.
•Less toxic products
•More durable products
•Products with reusable or recyclable materials
SOCIETAL MARKETING
SocietalMarketingOrientatio
n
Method video
The Body Shop - Values and Campaigns
BUILDING RELATIONSHIPS
A strategy that focuses on keeping and improving
Relationships with current customers.
Relationship
Marketing
BUILDING RELATIONSHIPS
Customer-oriented personnel
Employee training programs
Empowered employees
TeamworkZappos
YouTube - The Zappos Family on Nightline
DEFINING A FIRM’S BUSINESS
Use “Use “customer benefitscustomer benefits” instead of ” instead of ““goods/servicesgoods/services””
--Ensures a customer focus-Encourages innovation and creativity-Stimulates an awareness of changes
in customer preferences
THE FOUR MARKETING MANAGEMENT PHILOSOPHIES
Production
Sales
Marketing
Societal
What can we make or do best?
How can we sell more aggressively?
What do customerswant and need?
What do customers want and need, and how can we benefit
society?
Orientation Focus
Societal Marketing AssignmentHandout
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