Transcript MT 219 Marketing Seminar

MT 219 Marketing
Unit One
Welcome!
Course Overview
Introduction to Marketing
MT 219 Marketing
Unit One
Welcome!
Course Overview
Introduction to Marketing
MT 219 Marketing
Unit One
Welcome!
Course Overview
Creating Customer Value and
Marketing Strategy
Note: This seminar will be recorded
by the instructor.
Welcome!
Course Overview
Introduction to Marketing
Martin J. McDermott
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B.S. Marketing
MBA- International Business
Post-MBA- Entrepreneurial Studies
7 years teaching Marketing, Direct Marketing,
Internet Marketing, Sales Management
Principles, Retail Management, Customer
Relations, Business Management, and Business
Law
• Over 15 years sales and marketing experience
• Previous Faculty Advisor for the Collegiate
Entrepreneurs Organization for the Kaplan
University Chapter.
Tonight’s Agenda
Tonight I am going to review the following topics with
you:
• The syllabus,
• the expectations for the course,
• we will define marketing and the marketing concept,
• the marketing mix,
• building customer relationships,
• customer value, benefits, cost
Office Hours
My office hours are conducted through AOL Instant
Messenger (www.aim.com). The days and times are as
follows:
Wednesdays and Thursdays 7-8 p.m.
My AIM address is Martin0368 (last 4 characters are digitszero, three, six, eight)
My email address is – [email protected]
Phone 610-905-2919
Kaplan University Grading Scale
Total Points
Letter Grade
Percentage
Grade Point
930-1000
A
93-100%
4.0
900-929
A-
90-92%
3.7
870-899
B+
87-89%
3.3
830-869
B
83-86%
3.0
800-829
B-
80-82%
2.7
770-799
C+
77-79%
2.3
730-769
C
73-76%
2.0
700-729
C-
70-72%
1.7
670-699
D+
67-69%
1.3
600-669
D
60-66%
1.0
000-599
F
0-59%
0.0
GRADING CRITERIA/COURSE EVALUATION
TOP
TOP
Assessments
Number
Points each
Total Points
Discussions
10
30
300
Assignments
2
60
120
1
70
70
3
20
150
3
30
Research Project
2
150
300
Career Development Activity
1
30
30
Simulations
3
10
30
Quizzes
Total Points
1000 Points
Let’s Review: Overall Course Objectives
• The effect of the external environment on marketing
strategy
• What influences consumer behavior?
• Segmentation, targeting, positioning
• The marketing mix – The Four P’s- our tool box
• The role of marketing in service firms
Let’s Review: Course Element Overview
Six Grading Elements- See your Syllabus for grading
allocation
-Discussions- Units 1-9
-Unit 3 Career Activity Discussion
-Assignments- Units 2 and 4, 10
-Writing Assignment- Reflection- Unit 10
-Reviews- Units 1, 2, 3, 5, 7 and 9
-Research Projects- Units 6 and 8
-Simulations- Units 4, 5 and 8
This class has an e-text. Reading your e-text is important in order to
complete all assignments.
E-text
Let’s Review: Discussions
• Make sure to follow discussion requirements in syllabus
-Primary post by Saturday, a minimum of two posts to
others
-Post on three days
-Minimum of 100 words
• Opportunity to clarify concepts covered in unit
• Exchange ideas and ask questions to others
• They are fun!
Let’s Review: Working with the assignments
• Review the rubric in the syllabus for guidelines
• Use the templates that are available on the last assignment page
• Proof your work– grammar and spelling matter.
• Use APA as appropriate when citing sources- NO cutting and
pasting from sources
• Apply the concepts and language of the course
• Answer all the questions thoroughly
• If something is confusing, check with your professor
Let’s Review: Reviews
• Multiple choice quizzes
• Think the question through
• ALWAYS read instructions- Some may have time limits
or not allow you to take more than once.
• Keep aware of the deadline- system closes access
automatically
Let’s Review: Research Projects
• Select only a brand that is on the list in the Unit 2 Discussion
• You must use the brand you select in your Research Projects.
• The projects will require research, application, and creativity as well
as analysis
• Once you select your brand in the discussion, you should
independently research in preparation for your Research Projects
• A few minutes of researching your brand every day or so will help
ensure your Research Projects go smoothly.
Let’s Review- Simulations
• In Units 4, 5 and 8
• Follow the instructions
• Simulations see how well you have learned concepts
• Graded, so make sure to complete them before the
Tuesday deadline
Let’s Review: Deadlines
• All units close midnight EST on Tuesdays
• If you are having a difficulty getting work in- Contact me BEFORE the
deadline.
• Discussion threads, reviews and simulations will be closed at that
time. Plan appropriately.
• See the syllabus for late policies for projects
1-7 calendar days late = 20% penalty
8-14 calendar days late = 30% penalty
more than 14 days = automatic zero
Let’s Review: Seminars
• Optional
• Fun and helpful
• Opportunity to ask questions and interact with classmates
• You can review the recording if you are unable to attend
What is Marketing?
What is Marketing?
• Your e-book by Pride and Ferrell gave a
fantastic definition. It states, “Marketing is
the process of creating, distributing,
promoting, and pricing goods, services, and
ideas to facilitate satisfying exchanges with
customers and develop and maintain
favorable relationships with stakeholders in a
dynamic environment.”
The Marketing Mix and Environment
Summary – the Marketing Mix
The Marketer’s tool box – the Marketing Mix
• The product – anything that is offered to consumers for
their satisfaction
• The price – what consumers give up for the product
• The place – where, when and how consumers access
and possess the product
• Promotion- communication between the provider of the
product and the consumer
Marketing Mix or The Four P’s
• Term used throughout the course. How products are differentiated.
• Four components- Product, Price, Promotion and Place
(Distribution). What do each of these mean?
• Marketing Managers create and control the right mix of these
elements to create value and satisfy customer’s needs for a
general product type.
• They are synergistic and rely on one another for marketing success
• Example: A company could have the best product in the world,
great price s and promotion. Without good distribution, it may fail.
• Figure 2.4 in text shows the importance of the marketing mix as an
integral part of developing marketing strategy. (Kotler, 2010)
Relationships
What is Marketing?
• Kotler: “Marketing is the process by which companies create value for
customers and build strong customer relationships in order to capture
value from customers in return.” (Kotler, 2010)
• Notice that there is a lot of emphasis on establishing value and
relationships.
• Marketing, more than any other business function deals with the
customer and creating value for them.
• Notice that there is a lot of emphasis on establishing value and
relationships.
• Things that are marketed- Goods, services, ideas, personal images
The Marketing Process
Figure 1.1 (Kotler, 2010)
The marketing orientation has evolved
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1st Stage- The production orientation
2nd Stage- The sales orientation
3rd Stage- The marketing orientation
4th Stage- The societal marketing orientation
History of Marketing
• First era in the history of marketing - “the production era”.
• Businesses focused efforts on increasing the efficiency of
their production lines.
• Henry Ford was known by some as “The Godfather of the
Production Era”.
• “You can have a car in any color you want…as long as it’s
in black.” Henry Ford. What did he mean by that?
History of Marketing
• Second era- The “sales era”. Occurred prior to the 1950’s.
• Idea that creative advertising and selling would convince
consumers to buy a product or service.
• Third era- The “marketing era” was the third era in the history of
marketing.
• “Revolutionary idea.” Businesses focused on the needs and wants
of the consumer.
• The last era might be called the “societal marketing era” Company
must consider the different stakeholders of the company in
developing their marketing strategies.
What is the marketing concept?
• A managerial philosophy involving
- The satisfaction of consumer needs and wants
- The coordination of activities
- Satisfaction of goals
- In a coordinated way
- The basic management process- plan, organize, lead, control
What is customer relationship marketing?
• Long term
• Creates value for the consumer greater than the cost of
products
• Mutually satisfying
• Buyers and sellers both benefit
Marketers need to be obsessed with
creating value!
What is Value?
• Benefits minus costs = Value
• Benefits are what customers get out of a product
• Costs can take many forms
-Money
-Time
-Risk
-Aggravation
-Other?
Marketing is Dynamic
• Marketers realize their relationships with consumers is
always changing
• Importance of some customers
- Careful relationships with selected customers
- Developing relationships that are deeper and more interactive than
typical customers
• What companies might you feel a deep and interactive
link with?
Trends in the Marketing Environment
• Consider trends taking place in these areas:
-The domestic and global economy
-Changes in technology, including communications and
computer-based technologies.
-Growth in importance of non-profits and NGOs
-Trend towards sustainable marketing
-Growing diversity and awareness of other cultures
-Others?
Company and Marketing Strategy
• The process of establishing an organizational mission
and formulating OVERALL goals, corporate strategy,
marketing objectives, marketing strategy, and a
marketing plan.
• Mission- What the company does currently.
• Vision- What the company aspires to do in the future.
What is a marketing strategy?
“The marketing logic by which the company hopes to
create customer value and achieve profitable customer
relationships.” (Kotler, 2010)
A process that includes three important things:
- Segmenting the market
- Targeting key segments
- differentiating and positioning products and brands
What is a marketing plan?
• A written document that specifies those activities to be
performed to implement and control an organization’s
marketing activities.
SWOT Analysis
• Internal
- Strengths
- Weaknesses
• External
-Opportunities
-Threats
Any Questions?
Thank you for attending!
See you next week!