Transcript introduction to marketing

Marketing: An Introduction
INTRODUCTION TO
MARKETING
Dr. Dawn Medlin
Université d’Angers
Marketing: An Introduction
Do you know??
Marketing: An Introduction
What is a market?
“A market consists of all the potential
customers sharing a particular need or
want who might be willing and able to
engage in exchange to satisfy that need
or want” (Philip Kotler).
For instance…..
Marketing: An Introduction
The Overall Themes of Marketing
The Traditional Marketing Mix
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Product
Price
Promotion
Place
Marketing: An Introduction
Marketing Defined
• Marketing is a process… that is…
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Managerial
Social
Individual
Wants, Desires
Demands – Products and/or Services
Marketing: An Introduction
As far as Customers are concerned there
are three elements to address
• Customer value: Difference between
the values that the customer gains from
owning and using a product versus the
costs of obtaining the product.
• Customer satisfaction: The extent to
which a product’s perceived performance in
delivering value matches a buyer’s
expectations.
• Quality: the characteristics of a product or
service that bear on its ability to satisfy
stated or implied customer needs.
Marketing: An Introduction
Marketing Management Philosophies
Agree or Disagree?
1. Production: consumers will favor products that are
available and highly affordable
2. Product: consumers favor products that offer the
most in quality, performance, and innovative features
3. Selling: consumers will not buy unless an
organization undertakes a large-scale selling and
promotional effort
4. Marketing: determining the needs and wants of
target markets and delivering the desired satisfactions
more effectively and efficiently then the competitors
5. Societal marketing: generating customer
satisfaction and long-run societal well-being are the
keys to both achieving the company’s goals and
fulfilling its responsibilities
Marketing: An Introduction
Relationships
• Relationship marketing: the process of creating,
maintaining, and enhancing strong, value-laden relationships
with customers and other stakeholders.
Marketing: An Introduction
Marketing Management Practice
Essentially Two Types
• Entrepreneurial marketing:
– Businesses started by individuals
– Creativity, drive, and perseverance are
keys to success
• Formulated marketing:
– Professional, disciplined approach
– Achieving a market orientation
Marketing: An Introduction
Orientations towards marketing
• Production concept (before 1930):
demand > supply
• Selling concept (1930-1950):
supply > demand
• Marketing concept (post-1960s):
analyze consumer needs before
producing and selling, market
orientation, competition…
Marketing: An Introduction
Marketing Concept versus
Selling Concept
Starting Point
Focus
Means
Ends
The Marketing Concept
Market
Customer
needs
Integrated
marketing
Profits from
satisfied customers
The Selling Concept
Factory
Product
Sell and
Promote it
Profits through
sales volume
Figure 1.3
Marketing: An Introduction
Marketing Management
• What is marketing management?
« Marketing management is the process of
planning and executing the conception,
pricing, promotion, and distribution of
ideas, goods, and services to create
exchanges that satisfy individual and
organizational goals » (Philip Kotler)
• Marketing management has the task of
influencing the level, timing, and
composition of demand in a way that
will help the organization achieve its
objectives.
Marketing: An Introduction
Course Outline
• Marketing Research
• Marketing Strategy
Marketing: An Introduction
Common marketing problems
• How can we identify and choose profitable
market segments?
• How can differentiate our offer from our
competition?
• How should we react to competitors?
• How can we satisfy our customers and
build brand loyalty?
• How can we measure the effectiveness of
an add campaign, of Public Relations, of a
promotion, etc…?