Transcript Presentation 1 - Faculty

Kasulis Web Page: http://faculty-staff.ou.edu/K/Jack.J.Kasulis-1/
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Chapter 1, Overview of Marketing
What is Marketing?
Marketing is the activity, set of institutions, and
processes for creating, capturing, communicating,
delivering, and exchanging offerings that have
value for customers, clients, partners, and society
at large.
1-12
What is Marketing?
1-13
How Do Firms Become
Value Driven?
Sharing Information
Balancing Benefits with Costs
Building Relationships with Customers
Connecting With Customers
Using Social & Mobile Marketing
1-14
Marketing is about Satisfying
Customer Needs and Wants
©Procter & Gamble
1-15
Marketing is an Exchange
of Value
• An exchange is the process by which
some transfer of value occurs between
a buyer and a seller.
–
–
–
At least two people or organizations must
be willing to make a trade, and
Each must have something the other
values.
Most exchanges occur in the form of a
monetary transaction.
Marketing’s Tools: The
Marketing Mix
Product
Price
Creating Value
Capturing Value
Tools that Are Used Together to Create a Desired
Response Among a Set of Defined Customers
Place
Promotion
Delivering the Value Proposition
Communicating Value
Product: Creating Value
The fundamental
purpose of Marketing is
to create value by
developing a variety of
offerings, including
goods, services, and
ideas, to satisfy
customer needs.
Customer Solutions
1-18
Price: Capturing Value
• Price is everything a buyer gives up
(money, time, energy) in exchange for
the product
• The key to determining prices is to
figure out how much customers are
willing to pay and assess whether a
profit can be made at that point
Customer Cost
1-19
Place: Delivering the Value
Proposition
• Place, or supply chain
management, describes
all activities necessary
to get the product to the
right customer when the
customer wants it
• Where would you find
this product in the store?
Convenience
1-20
Promotion: Communicating
Value
Promotion is
communication by a
marketer that informs,
persuades, and reminds
potential buyers about a
product or service to
influence their opinions
or elicit a response
Communication
1-21
Marketing Can be
Performed by Individuals
and Organizations
1-22
Marketing Helps Create
Value
1
2
3
4
5
1. H.Armstrong Roberts/Retrofile/Getty Images 2. Jamie Grill/Iconica/Getty Images 3. ©Ted Dayton Photography/Beateworks/Corbis
4. Ciaran Griffin/Stockbyte/Getty Images 5. ©Colin Anderson/Blend Images/Corbis
1-23
Value Based Marketing
1-24