Slide 1.1 Kotler, Keller, Brady, Goodman and Hansen, Marketing Management, 1 st Edition © Pearson Education Limited 2009 Introduction to marketing Lecture.

Slide 1.1

Kotler, Keller, Brady, Goodman and Hansen, Marketing Management, 1st Edition © Pearson Education Limited 2009

Introduction to marketing

Lecture Week 1

Slide 1.2


Chapter questions

1. Why is marketing important and what is the scope of marketing?

2. How do we understand markets and customers?

3. How is marketing practiced?

4. What are the European marketing realities, company and consumer challenges?

Slide 1.3


Chapter questions (continued)

5. What is the philosophy of marketing?

6. How is marketing in a post modern world and retromarketing practiced?

7. What is an overview of marketing management?

Slide 1.4


What is marketing?

Marketing is a customer focusthat permeates organisational functionsand processes and is geared towards

marketing promises through valueproposition, enabling the fulfillment of individual

expectations created by such promises andfulfilling such expectations through supportto customers’ value-generating processes

thereby supporting value creation in the firm, customers and stakeholders.

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What is marketing management?

Marketing management is theart and science

of choosing target markets and getting, keeping and growing

customers throughcreating, delivering and communicating

superior customer value.

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Selling is only the tip of the iceberg

‘There will always be need for some selling. But the aim of marketing is to make selling superfluous. The aim of marketing is to know and understand the customer so well that the product or service fits him and sells itself. Ideally, marketing should result in a customer who is ready to buy. All that should be

needed is to make the product or service available’.

Peter Drucker

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Marketing is more than advertising or selling

This video clip explores the over focus of many companies on sales and particularly advertising without really trying to understand the customer and really understanding the totality of marketing.

www.youtube.com/watch?v=heSudg-tfIk&feature=related

http://www.youtube.com/watch?v=heSudg-tfIk&feature=related

http://www.youtube.com/watch?v=heSudg-tfIk&feature=related

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What is marketed?

ServicesServices

ProductsProducts

EventsEvents

ExperiencesExperiences

PeoplePeople

PlacesPlaces

IdeasIdeas

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Demand states

Nonexistent Latent

Declining Irregular

Full UnwholesomeOverfull

Negative

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Marketing during a recession: The future is bright!

‘The business landscape has changed fundamentally; tomorrow’s environment will be different, but no less rich in possibilities for those who are prepared.’ (Davis, 2009)

www.youtube.com/watch?v=GEJIhkDSjNo

View an interesting video clip from Kraft Foods on how they stay customer focused during a recession and really understand the core marketing focus on the customer.

http://www.youtube.com/watch?v=GEJIhkDSjNo

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What is a network economy?

A network economy is driven by a dynamic and knowledge-rich technology dominant environment meaning that the hierarchical stand-alone organisations of the twentieth

century have changed into a variety of network forms.

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Network forms

Internal networks

Vertical networks

Intermarket networks

Opportunity networks

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A simple marketing system

Figure 1.2 A simple marketing system

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Key customer markets

Consumer Business

Global Non-profit

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Purchasing power in Europe

Figure 1.3 European purchasing power in 2007Source: Michael Bauer Research (2007) European purchasing power in 2007: who’s on top? 31 August (retrieved from www.english.mb-research.de/content/view/). Reproduced with permission

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Getting a global mindset

• Think globally

• Think locally

• Think globally and locally simultaneously

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Market terms

Marketplace Marketspace

Metamarket Metamediaries

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A metamediary website

Source: European Auto Trader BV

www.autotrader.nl

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The 7Ps of the marketing mix

Figure 1.4 The 7Ps components of the marketing mix

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Classifications of marketing practice

Table 1.3 Classifications of marketing practice by relational exchange dimensions

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Transaction marketing differs from relationship marketing

• Time perspective

• Primary communication

• Customer feedback mechanism

• Market size

• Criterion for success

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The marketing environment

Task environment• Company

• Suppliers

• Distributors

• Dealers

• Target customers

Broad environment• Demographic

• Economic

• Physical

• Technological

• Political-legal

• Social-cultural

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The marketplace isn’t whatit used to be…

Heightened competitionHeightened competition

GlobalizationGlobalization

TechnologiesTechnologies

Industry convergenceIndustry convergence

Retail transformationRetail transformation

DisintermediationDisintermediation

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Consumers are changing …

Consumer sophisticationConsumer sophistication

Tech savvyTech savvy

Self-expressionSelf-expression

Buying powerBuying power

Voice and influenceVoice and influence

Co-creationCo-creation

Self-serviceSelf-service

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Philosophies of business

Production philosophy

Selling philosophy

Marketing philosophy

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Conditions of postmodern marketing

• Hyperreality

• Fragmentation

• Reversals of production and consumption

• Decentring of the subject

• Paradoxical juxtapositions

• Loss of commitment

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Characteristics of retromarketing

Tricksterism

Exclusivity

Amplify

Secrecy

Entertain

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Overview of marketing management

• Creating value

• Introducing marketing

• Capturing marketing insights

• Connecting with customers

• Building strong brands

• Marketing mix

• Implementing marketing management

• Managing marketing metrics

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Recap: Can you explain?

• Why is marketing important and what is the scope of marketing?

• How do we understand markets and customers?

• How is marketing practiced?

• What are the European marketing realities, company and consumer challenges?

Slide 1.30


Recap: Can you explain? (continued)

• What is the philosophy of marketing?

• How is marketing in a post modern world and retromarketing practiced?

• What is an overview of marketing management?

Slide 1.1 Kotler, Keller, Brady, Goodman and Hansen, Marketing Management, 1 st Edition © Pearson Education Limited 2009 Introduction to marketing Lecture.

Documents

aim of marketing

scope of marketing

totality of marketing

philosophy of marketing

related slide

marketing lecture week

european marketing realities

peter drucker slide