Transcript 4 questions - UMM Directory

Principles of Marketing
MGT C04
Session 1
May 13, 2003
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Structure for today: 3 questions
• Who is this guy?
• What are we going to do for the next 12
Tuesday evenings?
– Most importantly…how do I score some rockin’
grades?
• What’s the big deal about Marketing?
– An introduction to the context in which Marketing fits
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Who is this guy?
• R P Kumar
• B.Sc. Mechanical Engineering, MBA (India)
• 17 years in marketing/advertising, primarily on packaged
goods businesses in India, Middle East and Canada
– Vice-President, Director of Global Tools
– Foote, Cone and Belding
• At US$193MM, # 8 in USA revenue rankings
• At US$379MM, among the world’s top ad agency brands
• Member of the Interpublic Group, the world’s second largest
communications supergroup (over US$6 Billion)
• North American clients/brands worked on:
• Kraft Canada: Delissio Pizza, Oreos, Chips Ahoy!, Kraft Salad
Dressings, Crispers, Corn Nuts, Jell-O, Cool Whip, etc.
• SC Johnson: Fantastik, Glade, Raid, Pledge, Ziploc, etc.
• Tetley Tea
• Circuit City
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Course Goals
• To outline the marketing function and its role within a
corporation’s business strategies, also hopefully
generating a passion for the Marketing discipline and
empowering you to evaluate Marketing as a possible
career choice
• To introduce you to marketing strategy and to the
elements of marketing analysis: customer analysis,
company analysis, and competitor analysis
• To familiarize you with the elements of the marketing mix
(product, pricing, promotion, and distribution strategies)
and enhance your problem solving and decision making
abilities in these operational areas of marketing tactics
HAVE LOTS OF FUN!
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Text Book
Principles of
Marketing
Fifth Canadian Edition
Philip Kotler, Gary
Armstrong, Peggy
H. Cunningham
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What are we going to do in
the next 12 sessions?…
Date
Topic
Readings/Material
Assignments Due
Week 1 (May 13)
Introduction to Marketing
Ch 1
Week 2 (May 20)
Marketing Process and Company Analysis
Ch 2, Ch 3
Group Names
Week 3 (May 27)
Customer Analysis: Buyer Behavior
Ch 5, Ch 6
Project Description
Week 4 (June 3)
Customer Analysis: Segmentation,
Targeting, Positioning
Competitor Analysis
Ch 7
Ch 4
Week 7 (June 24)
Marketing Research and Mid-Course
Review
Mid-Term Examination
July 1
Canada Day (Holiday)
Week 8 (July 8)
Product Policy: New Products
Ch 8, Ch 9
Week 9 (July 15)
Pricing
Ch 10
Week 10 (July 22)
Communication and Advertising
Ch 13, Ch 14, Ch 15
Week 11 (July 29)
Ch 11, Ch 12
Week 12 (Aug 5)
Channels of Distribution and
Course Recap
Group Presentations
August 18-22
FINAL EXAMINATION
Week 5 (June 10)
Week 6 (June 17)
May 13, 2003
Lecture notes
None
Principles of Marketing MGT C04
Group Assignment
Group Project
Class Presentations
6
…and how do I score some really
serious grades?
• There’s no rocket science to getting good
grades
• The secret: Work Hard!
• Individual Evaluation:
– Mid-term Exam
– Final Exam
20%
35%
• Group Evaluation:
– Group Project and Presentation
– Group Assignment
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Principles of Marketing MGT C04
35%
10%
7
Group Project and Presentation
• Take my advice…take this seriously! This can
make or break your grade
• First step: give me your groupings in next class
• Read the course outline carefully for details on
the project
• Tip for good grades: Try to ensure this project is
as close to real life as possible
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What is Marketing?
• Many definitions, but for the purposes of this
class we’ll follow Kotler et al:
Marketing is a social and managerial process by
which individuals and groups obtain what they
need and want through creating and exchanging
products and value with others
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Role of Marketing in
a Business Organisation
• Marketing co-exists in companies as an equal
partner with Operations and Finance/Accounting
• In many organisations, Marketing personnel are
the ‘natural’ future leaders (P&G, other
consumer goods marketers)
• Some companies are naturally attuned to having
Finance experts (most banks, investment
companies); or scientists (NASA); or
– Discussion: is Marketing less important in such
companies?
‘More than half the polled executives at 250 corporations ranked Marketing as the most
important element of strategy’ - Yankelovitch, Skelly and White Survey, 1995
‘The fastest way up the corporate ladder is through the Marketing Department’
- Economist Survey, 1997
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Core Marketing Concepts…1
1.
2.
3.
4.
5.
•
•
•
•
Needs, Wants, and Demands
Products and Services
Value, Satisfaction and Quality
Exchange, Transactions and Relationships
Markets
Please go through the definitions from the text book…
Understand the words, the meanings…
…and forget about them!
Important to understand that marketing is all about
concepts…the clearer they are, the easier your lives are
going to be
Course Note: In this course, you will be tested on concepts, not as
sterile definitions but on real-life application
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Core Marketing Concepts…2
Needs, Wants, and Demands
• Discussion: what’s the difference between
these?
• Discussion: why is it important to understand
the difference?
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Core Marketing Concepts…3
Products and Services
• Discussion:
– What’s the difference?
– Can services be made into products?
– Can products be made into services?
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Core Marketing Concepts…4
Value, Satisfaction and Quality
• Discussion: how would you calculate consumer
value in:
–
–
–
–
Consuming a can of Coca-Cola?
Joining a health club?
Buying a lottery ticket?
Enjoying a massage at a spa?
• Discussion: think of talk about an experience
where as a consumer, you felt:
– Satisfied with the value you received?
– Dissatisfied with the value you received?
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Core Marketing Concepts…5
Exchange, Transactions and Relationships
• Discussion: an example of a non-monetary
business transaction in our day-to-day life
• Recently, as the owner of a particular brand of
car, my friend received an invitation to an
exclusive preview of their new luxury car,
accompanied by cocktails and hors d’oeuvres:
– What is the company trying to do?
– How will it help them…immediately and in the future?
• The ultimate marketing asset: an entire
marketing network
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Core Marketing Concepts…2
Markets
• No longer defined as a physical space where
transactions take place
• In this course, when we refer to ‘Market’, it is in
the sense of a collection of buyers and sellers in
a particular need area, e.g. the housing market,
or the commodity market
• Discussion: name three markets
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Marketing Management Practice
Three stages
• Discussion: think of examples (from your own
lives or reading/knowledge), of companies/
individuals who are involved in the three forms
of Marketing Management Practice:
– Entrepreneurial
– Formulated
– Intrapreneurial
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Evolution of Business Models and
the role of Marketing
Product
Production
Selling
Marketing
Societal
Mktg
As business philosophy has evolved, so has the
role of marketing…customer satisfaction is now
at the core of most successful corporations
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The Marketing Concept itself
has evolved
1) Catering to the customer
2) Anticipating the customer
3) Leading the customer
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How does Marketing fit
into our lives today?
• Technological advances have allowed us to
connect even more strongly with:
– Customers
– Marketing Partners
– World in general
• Discussion: how has the Internet impacted the
role of marketing in your own lives?
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Recap
• Today we’ve covered Chapter 1 of the text
• We’ve reviewed definitions of some basic
concepts…remember we have not yet reached
the marketing terminology we will be dealing
with for the majority of the course
• There’s lots to come and lots to learn…the fun
has just begun!
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