Transcript Slide 1
Welcome to Introduction to Marketing Instructor: Mr. Leon Roberts Email: [email protected] Website:leon-roberts.com McGraw-Hill/Irwin Copyright © 2011 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin Copyright © 2011 by The McGraw-Hill Companies, Inc. All rights reserved. RESEARCHING HOW COLLEGE STUDENTS STUDY TO LAUNCH A NEW PRODUCT AT 3M 1-3 INNOVATION AND MARKETING AT 3M DISCOVERING & SATISFYING STUDENT STUDY NEEDS + 3M Post-it® Notes or Post-it® Flags = Felt Tip Highlighters 3M product that will combine Post-it® Notes or Post-it® Flags and Highlighters 1-4 LO1 WHAT IS MARKETING ? You Are a Marketing Expert Already • Involved in 1,000s of Buying Decisions • May Be Involved in Selling Decisions Marketing is NOT Easy 1-5 FIGURE 1-1 The see-if-you’re-really-amarketing-expert test 1. True 2. True 3. (c) plastic bottles 1-6 MARKETING MATTERS LO1 Payoff for the Joys (!) and Sleepless Nights (?) of Starting Your Own Small Business: YouTube!!!! 1-7 LO1 WHAT IS MARKETING? DELIVERING BENEFITS Marketing Seeks to: • Discover Needs and Wants of Customers • Satisfy Them Exchange AMA Definition of Marketing 1-8 WHAT IS MARKETING? LO1 DIVERSE FACTORS INFLUENCE MARKETING ACTIVITIES The Organization Itself and Its Departments Society Environmental Forces 1-9 FIGURE 1-2 A marketing department relates to many people, organizations, and environmental forces 1-10 LO2 HOW MARKETING DISCOVERS CONSUMER NEEDS THE CHALLENGE: NEW PRODUCTS Consumers May Not Know or Cannot Describe What They Need or Want Most New Products Fail The Challenge: • “Focus on the Consumer Benefit” • “Learn From the Past” 1-11 LO2 Dr. Care Vanilla-Mint Aerosol Toothpaste What “benefits” and what “showstoppers?” 1-12 LO2 Hot Pockets Sideshots Microwaveable Snacks What “benefits” and what “showstoppers?” 1-13 LO2 AT&T CruiseCast What “benefits” and what “showstoppers?” 1-14 LO2 Pepsi Max What “benefits” and what “showstoppers?” 1-15 LO2 HOW MARKETING DISCOVERS CONSUMER NEEDS NEEDS VS. WANTS Want Need Does Marketing Persuade People to Buy the “Wrong” Things? Market 1-16 FIGURE 1-3 Marketing seeks to discover consumer needs through research and then satisfy them with a marketing program 1-17 LO3 HOW MARKETING SATISFIES CONSUMER NEEDS Target Market The 4 P’s: Controllable Marketing Mix Factors • Product • Price • Promotion $199 • Place 1-18 LO3 HOW MARKETING SATISFIES CONSUMER NEEDS Uncontrollable Environmental Forces • Social • Competitive • Economic • Regulatory • Technological 1-19 LO4 THE MARKETING PROGRAM CUSTOMER VALUE AND RELATIONSHIPS Customer Value Value Strategies • Best Price • Best Product • Best Service 1-20 LO4 Southwest Airlines, Starbucks, and Home Depot What customer value strategy? 1-21 LO4 THE MARKETING PROGRAM RELATIONSHIP MARKETING Relationship Marketing • Easy to Understand • Hard to Do Marketing Program 1-22 LO4 3M’S STRATEGY & MARKETING PROGRAM HELPING STUDENTS STUDY Move from Ideas to a Marketable Highlighter Product Add the Post-it® Flag Pen Develop a Marketing Program for the Post-it® Flag Highlighter and Pen 1-23 FIGURE 1-4 Marketing programs for two new 3M Post-it® brand products targeted at two distinct customer segments: college students and office workers 1-24 LO4 3M STRATEGY & MARKETING PROGRAM MARKETPLACE SUCCESS? Developed Second Generation Post-it® Flag Highlighter Appeared on The Oprah Winfrey Show 1-25 FIGURE 1-A Four different orientations in the history of American business Production Era Sales Era Marketing Concept Era Customer Relationship Era • Market Orientation 1-26 LO5 HOW MARKETING BECAME IMPORTANT EVOLUTION OF THE MARKET ORIENTATION Customer Relationship Management (CRM) Customer Experience • Direct Contact from Buying the Service • Indirect Contact via Unplanned “Touches” 1-27 LO5 HOW MARKETING BECAME IMPORTANT ETHICS AND SOCIAL RESPONSIBILITY Ethics Social Responsibility • Societal Marketing Concept • Social Entrepreneurship 1-28 LO5 HOW MARKETING BECAME IMPORTANT BREADTH AND DEPTH OF MARKETING Who Markets? What Is Marketed? • Goods • Services • Ideas 1-29