Transcript Chapter 1
Lamb, Hair, McDaniel MKTG 2009-2010 1 CHAPTER Chapter 1 An Overview of Marketing Copyright ©2010 by Cengage Learning Inc. All rights reserved 1 Learning Objectives Define the terms marketing, value, exchange Describe four marketing management philosophies Describe several reasons for studying marketing Chapter 1 Copyright ©2010 by Cengage Learning Inc. All rights reserved 2 What Is Marketing? American Marketing Association Definition Marketing is the activity, set of institutions, and processes for ……….., ………., ………., and ………..offerings that have ………for customers, clients, partners, and society at large. LO1 Chapter 1 Copyright ©2010 by Cengage Learning Inc. All rights reserved 3 What is Marketing? Chapter 1 Copyright ©2010 by Cengage Learning Inc. All rights reserved 4 ………………….. The relationship between benefits and the sacrifice necessary to obtain those benefits. LO3 Chapter 1 Copyright ©2010 by Cengage Learning Inc. All rights reserved 5 …………… Chapter PHOTO Here People giving up something to receive something they would rather have. LO1 Chapter 1 Copyright ©2010 by Cengage Learning Inc. All rights reserved 6 LO1 Exchange At Least Two Parties Something of Value Conditions for Exchange Communication and Delivery Freedom to Accept or Reject Desire to Deal with Other Party Chapter 1 Copyright ©2010 by Cengage Learning Inc. All rights reserved 7 LO1 Chapter 1 Exchange Exchange may not take place even if conditions are met An agreement must be reached Marketing occurs even if exchange does not take place Copyright ©2010 by Cengage Learning Inc. All rights reserved 8 LO1 Customer value and beneficial relationships Creating Value Exchange A B Delivering Value Chapter 1 Communicating Value Copyright ©2010 by Cengage Learning Inc. All rights reserved 9 LO2 Marketing Management Philosophies Orientation …………… ………… Focus is on… internal capabilities of the firm aggressive sales techniques and belief that high sales result in high profits customer needs and wants …………….. satisfying while meeting objectives …………… Chapter 1 satisfying customer needs and wants while enhancing individual and societal well-being Copyright ©2010 by Cengage Learning Inc. All rights reserved 10 Market Orientation …………… The idea that the social and economic justification for an organization’s existence is the satisfaction of customer wants and needs while meeting organizational objectives. LO2 Chapter 1 Copyright ©2010 by Cengage Learning Inc. All rights reserved 11 Market Orientation Marketing Concept The idea that the social and economic justification for an organization’s existence is the satisfaction of customer wants and needs while meeting organizational objectives. LO2 Chapter 1 Copyright ©2010 by Cengage Learning Inc. All rights reserved 12 LO2 Achieving a Marketing Orientation Obtain information about customers, competitors, and markets Examine the information from a total business perspective Determine how to deliver superior customer value Implement actions to provide value to customers http://www.westernunion.com Chapter 1 Copyright ©2010 by Cengage Learning Inc. All rights reserved 13 ……………………. An organization exists not only to satisfy customer wants but also to preserve or enhance individuals’ and society’s longterm best interests. • • • Less toxic products More durable products Products with reusable or recyclable materials LO2 Chapter 1 Copyright ©2010 by Cengage Learning Inc. All rights reserved 14 Orientation Focus Production What can we make or do best? Sales How can we sell more aggressively? Marketing What do customers want and need? Societal What do customers want and need, and how can we benefit society? Chapter 1 Copyright ©2010 by Cengage Learning Inc. All rights reserved 15 Customer Satisfaction Customer Satisfaction The feeling that a product met or exceeded the customer’s expectations. LO3 Chapter 1 Copyright ©2010 by Cengage Learning Inc. All rights reserved 16 Building Relationships Relationship Marketing A strategy that focuses on keeping and improving relationships with current customers. LO3 Chapter 1 Copyright ©2010 by Cengage Learning Inc. All rights reserved 17 Building Relationships Customer-oriented personnel Employee training programs Empowered employees Teamwork LO3 Chapter 1 Copyright ©2010 by Cengage Learning Inc. All rights reserved 18 LO4 Why Study Marketing? Plays an important role in society Vital to business survival, profits and growth Offers career opportunities Affects your life every day Chapter 1 Copyright ©2010 by Cengage Learning Inc. All rights reserved 19 Why Study Marketing? Half of every dollar spent pays for marketing costs Better-informed consumers Demand for customer satisfaction Chapter 1 Copyright ©2010 by Cengage Learning Inc. All rights reserved 20 Check Yourself 1. What is the definition of marketing? 2. Marketing is about satisfying ______ and ______ . 3. What are the four components of the marketing mix? 4. Who can perform marketing? 5. What are the various eras of marketing? Chapter 1 Copyright ©2010 by Cengage Learning Inc. All rights reserved 21