Transcript Introduction - Lars Perner

Welcome to MKTG 370:
Marketing!
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Course objectives and
philosophy
About the Instructor
Course logistics
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MKTG 370
Lars Perner, Instructor
Introduction
Text and supplements
Assignments and exams
Policies
What is marketing?
Meeting consumer needs
and wants
Some topics we will cover
this quarter...
Course Objectives
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Understand:
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MKTG 370
Lars Perner, Instructor
Introduction
the role of marketing in firms that function in an
increasingly global and competitive market;
basic concepts and terms used in marketing;
the advantages, disadvantages, opportunities, and
tradeoffs involved in different marketing strategies and
choices;
Develop knowledge and tools necessary to
design and implement effective marketing
programs;
Appreciate ethical implications of marketing
decisions; and
Appreciate the dual roles of formal analysis and
creativity in designing and implementing
effective marketing programs.
Course Philosophy
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MKTG 370
Lars Perner, Instructor
Introduction
Application to
needs of real firms
rather than
memorization
Broad overview of
marketing
Assignments
require individual
initiative and
thinking
About the Instructor: Lars Perner
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Ph.D., University of Southern California
Research interests: Consumer behavior,
international marketing, price
Teaching experience
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MKTG 370
Lars Perner, Instructor
Introduction
Institutions: U.C.Riverside, USC, U. of
Maryland, George Washington U., Cal State LA,
Loyola Marymount
Courses: Intro Marketing, Consumer Behavior,
International Marketing, Marketing Strategy,
Intro to International Business,
Channels/Distribution
Country of birth: Denmark
Warning!
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MKTG 370
Lars Perner, Instructor
Introduction
Beware of relying
on PowerPoint
printouts!
Psychological
research shows
that
comprehension
and memory suffer
if you do not take
notes in your own
hand.
Assignments
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Must complete at
least 4/6:
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MKTG 370
Lars Perner, Instructor
Introduction
Consumer Behavior
International
Marketing
Segmentation-”Diff’rent strokes
for diff’rent folks”
Product
Distribution
Pricing
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See instructions
for each in
syllabus
Have fun!
Why does Tony the Tiger wear a
scarf?
MKTG 370
Lars Perner, Instructor
Introduction
Some Topics Covered This
Quarter...
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MKTG 370
Lars Perner, Instructor
Introduction
The Marketing
Environment
Strategic Planning
Consumer
Behavior
International
Marketing
Segmentation,
Targeting, and
Positioning
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The 4 Ps of
Marketing:
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Product:
Strategies, designs,
introduction, life
cycle issues
Distribution
(“Place”)
Promotion-advertising, price
promotion, and
much more
Pricing
Marketing--What Is It?
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MKTG 370
Lars Perner, Instructor
Introduction
Scope of
marketing
Marketing tools
Reasons for
studying
marketing
The Marketing
Concept vs. the
Selling Concept
Definition
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MKTG 370
Lars Perner, Instructor
Introduction
Marketing: “The (1) process of (2)
planning and (3) executing the (4)
conception, (5) pricing, (6)
promotion, and (7) distribution of
(8) ideas, (9) goods, and (10)
services to create (11) exchanges
that (12) satisfy (13) individual and
(14) organizational (15)
objectives.” (American Marketing
Association “official” definition
[numbering added].)
The Reality of Marketing
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Matching consumer needs with
suppliers
Providing value to customers—e.g.,
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MKTG 370
Lars Perner, Instructor
Introduction
Lower prices (e.g., auto insurance)
Reliability/consistency
Extra services (e.g., dry cleaning
picked up and delivered; mobile
mechanic; online banking)
Special segment need
Requirements for Marketing to
Occur
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2+ parties
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MKTG 370
Lars Perner, Instructor
Introduction
with unsatisfied needs
Desire and ability to
satisfy these needs
A way to communicate
Something to exchange
The Marketing Concept
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Focus on finding (or
creating) consumer
needs and satisfying
them--not
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MKTG 370
Lars Perner, Instructor
Introduction
just producing--no
guarantee that anyone will
buy
aggressive selling--there
is too much competition
around
Contrasting Selling and Marketing
Concepts
Philosophy Emphasis
Sales
Marketing
MKTG 370
Lars Perner, Instructor
Introduction
Maximize sales of
present product by
whatever means
needed (e.g., price
cuts, aggressive sales)
Example
Steep discounts on cars
in “bad” times;
railroads cutting prices
rather than focusing on
ultimate customer
need; “hard” selling by
contractors
Determine and satisfy Ford developing Taurus
consumer need
from scratch;
whether this is
Southwest Airlines
consistent with
serving untapped
current product line or segment
not
Consumer Needs and Wants
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MKTG 370
Lars Perner, Instructor
Introduction
Need: Based on
perceived
physiological
deprivation.
Want: Felt need
based on person’s
culture,
personality, and
knowledge.
Creating Consumer Utility
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MKTG 370
Lars Perner, Instructor
Introduction
Form utility—
transformation of
raw materials into
products
Place utility—
making product
conveniently
available
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Time utility—
making product
available when
needed
Possession utility—
access to a large
assortment of
products
Marketing Opportunities
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Products
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Services
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MKTG 370
Lars Perner, Instructor
Introduction
For consumers
For businesses
For business
For consumers
Social objectives: Ideas, practices,
knowledge
Making and Delivering Value
MAKING MARKETING VALUE DECISIONS
UNDERSTANDING CONSUMERS’ VALUES AND NEEDS
CREATING THE VALUE PROPOSITION
COMMUNICATING THE VALUE PROPOSITION
DELIVERING THE VALUE PROPOSITION
MKTG 370
Lars Perner, Instructor
Introduction
Satisfying Consumer Needs: Controllable
and Uncontrollable Factors
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Controllables: The
4Ps
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MKTG 370
Lars Perner, Instructor
Introduction
Product
Price
Promotion
Place
May be
controllable only in
the medium to
long run
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Uncontrollables:
Environmental
factors
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Social
Economic
Technological
Competitive
Regulatory