Transcript Marketing 1 - Bob McDonald

Marketing 1
An Overview of Marketing
WHAT IS…?
MARKETING
MARKETING
 Sine
Qua Non of Business
“Without This Nothing”
MARKETING
 Meeting
customer needs
 Exchange:
 Creating,

Quid pro Quo (This for That)
Promoting & Delivering:
Goods & Services
Where can marketing be used?
 Traditional
Businesses
 Not-For-Profit Companies
 Institutions
 Social Organizations
 Social Causes and Ideas
 Politics
 Sports and Entertainment
Markets
 All
actual and potential customers
 Can’t
be all things to all people, so
break up total market into segments
 Each
segment is comprised of people
who are grouped by their similarity
along some dimensions
Marketing
Defining marketing
 Marketing mix
 Management philosophies
 Requirements for successful marketing
 Market place orientations

1.1
What Is Marketing?
A set of processes for creating,
communicating and delivering value
to customers, with the intention of
building long term relationships that
will benefit the organization and its
stakeholders.
1.3
Exchange Process
BUYER
SELLER
1.2
MARKETING MIX
Decisions that must be made. The “ingredients.”




PRODUCT
PROMOTION
PLACE
PRICE
 KEY:
Devise a mix that satisfies
customers and generates a profit for the
firm.
1.4
MARKETING PHILOSOPHIES
PRODUCTION ORIENTATION
– Focus on internal capabilities of the firm
rather than on the marketplace
SALES ORIENTATION
– Aggressive sales techniques used to drive
profits
1.5
The Marketing Concept
 The
social and economic justification for
an organization’s existence is the
satisfaction of customer wants and needs
while meeting organizational objectives.
 The
value as perceived by the customer!
MARKET ORIENTATION

EMPLOYING THE MARKETING CONCEPT
– Customer needs/wants orientation
– Aimed at generating customer satisfaction
– Satisfying organizational goals

STRATEGIC MARKETING MANAGEMENT
– Gather information about customers, competitors,
and markets
– Selection of target markets
– Development of marketing mix
1.6
SOCIETAL MARKETING
ORIENTATION
 Satisfy
customer wants/needs
 Organizational
goals
 And
preserve or enhance society’s long
term best interest
1.7
Value

Value is what the customer thinks it is.

Customer Value = Benefits
Costs
1.8
Customer Satisfaction
Satisfaction = Experience - Expectation
Long-Term Relationships
 Repeat
Sales
 Referrals
 Lower Costs

Customer Retention vs. Customer Acquisition
 Increased
Sales
 Premium Price (slight)
Successful relationship marketing
requires
 Customer
 Good
Oriented Personnel
Training
 Empowerment
 Teamwork
1.10
Importance of marketing in society

Importance to Business

Career Opportunities

Affects Daily Life

To You
1.11