Transcript What is Marketing

MT 219 Marketing
Unit One
Welcome!
Course Overview
Strategic Marketing
Note: This seminar will be recorded
by the instructor.
Basic, but important stuff!
• Call me Wayne!
• Seminars not required, but recommended. Recorded!
- Log in early
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How to reach me – online, email, virtual office
A Kaplan “week” – Wednesday through Tuesday nite
What if you get knocked out of seminar?
Don’t fall behind! Get in touch with me! Ask questions!
READ EVERYTHING! Print out syllabus. Look in
docsharing. Participate in discussion!
• Have fun! Learn new things!
Student Success Coaching
• It’s FREE!
• Voluntary
• Provides you coaching support
- Academic
- Career
- Personal development
• Self–refer by contacting me
• I will refer if I believe you will benefit
Overall Course Objectives
• The effect of the external environment on marketing
strategy
• What influences consumer behavior?
• Segmentation, targeting, positioning
• The marketing mix – The Four P’s- our tool box
• The need for synergy in marketing strategies
• The role of marketing in service firms
Course Element Overview
Five Grading Elements- See your Syllabus for grading
allocation
-Discussions- Units 1-9
-Assignments
-Writing Assignment- Reflection- Unit 10
-Reviews
-Research Projects- Units 7 and 9
This class has an e-text. Reading your e-text is important in order to
complete all assignments.
Extra Credit is not offered
Discussions
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Opportunity to clarify concepts
Work with material covered in the unit
Ask questions to others
Get help from instructor and classmates
Exchange ideas
Get feedback
They are fun!
How to do well in discussions
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Pay attention to the rubric in your syllabus- points at stake
Post early- you must post a primary response by Saturday
You must post on three separate days for full credit
Respond to at least two classmates
Apply the language and concepts from your readings
Interpret your own knowledge in terms of the course
Incorporate the key terms at the end of each unit
Use web based research to make a point
Use material from previous units to link concepts
Be thoughtful, thorough, and substantive (100 words at least)
Check frequently to see if anyone has asked questions
Be aware of the deadline- the board closes automatically
Working with the assignments
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Assignments require you to apply what you have learned.
Review the rubric in the syllabus for guidelines
Use the templates that are available on the last assignment page
Proof, proof, proof – grammar and spelling matter. Using APA is
recommended. See Docsharing and visit Writing Center
BRING THE TEXT INTO THE PROJECTS- NO CUTTING and
PASTING
Apply the concepts and language of the course
Answer all the questions in terms of the key concepts of that unit
Be thorough, especially when examining the website
Additional research may be used and is encouraged.
If something is confusing, check with your professor
Reviews
• Multiple choice quizzes
• Think the question through
• ALWAYS read instructions- Some may have time limits
or not allow you to take more than once.
• Keep aware of the deadline- system closes access
automatically
Final Brand Analysis Project
• You will select your brand from the list in the Unit 2 Discussion
• You can only select a brand that is on the list in the discussion
• After selecting your brand from the list, this is the brand you must use in
the Final Project.
• The project will require research, application, and creativity as well as
analysis
• You will have an opportunity to spend more time discussing the project in
the other seminars
• Once you select your brand in the discussion, you should independently do
research in preparation for your Final Project
• A few minutes of researching your brand every day or so will help ensure
your research and Final Project go smoothly, so plan ahead.
Deadlines
• All units close midnight EST on Tuesdays
• If you are having a difficulty getting work in- Contact me BEFORE the
deadline.
• Discussion threads will be closed at that time and cannot be handed
in late unless there are extenuating circumstances. Plan appropriately.
• All unit reviews and projects are also due at that time
• See the syllabus for late policies for projects
1-7 calendar days late = 20% penalty
8-14 calendar days late = 30% penalty
more than 14 days = automatic zero
Seminars
• Fun and helpful – not required attendance
• Opportunity to ask questions
• Opportunity to interact with classmates
• Day and time, as well as link to seminar room, will be posted by the
instructor in the Announcements
• You can review the recording (which will be posted as a link in an
Announcement) if you are unable to attend
Special Announcement- The Continue
Button on Screens
• Located in the lower right hand corner of many screens
in the class. Clicking on the “Continue” will not advance
you to the next screen.
• To advance to the next screen, roll your mouse over to
the right hand side of the screen and an arrow will
appear. Click on the arrow and you will advance to the
next page.
• Rolling your mouse over to the left hand side of the
screen will open an arrow to go back to the previous
page. Demo: http://screencast.com/t/XQ3ng87qKm
What is Marketing ?
• A process that focuses on
-consumer relationships and satisfaction, and
-the creation, distribution, promotion, pricing of:
-goods
-services
-ideas
What is the purpose of Marketing?
• The purpose of Marketing – to make a profit by providing value in a
social context. Benefits/value to customers = sales (possibly profits)
• Marketing, more than any other topic deals with the customer.
• E-book states, “Marketing is the process of creating, distributing,
promoting, and pricing goods, services, and ideas to facilitate
satisfying exchanges with customers and develop and maintain
favorable relationships with stakeholders in a dynamic environment.”
• That’s a pretty big definition!
• There are also some very important words in that definition. By
process, we are referring to a system or a method.
• A majority of that definition contains the elements of a very important
term called the “Marketing Mix.”
Marketing Mix or The Four P’s
• This is a term we will reference throughout the course.
• Figure 1.1 in e-book - diagram that shows the importance of the
marketing mix as a component of marketing.
• The marketing mix includes 4 elements of marketing: the 4Ps of
marketing -- Product, Price, Promotion and Place. Place is also
referred to as “distribution.”
• The primary job of a marketing manager is to create and maintain
the right mix of these elements to satisfy customer’s needs.
• For example, a company could have the best product in the world
offered at a great price with exceptional promotion.
• However, if you cannot get the product to the customer, then you
have no sales.
• These concepts will make more sense as we dive deeper into the
class.
Summary – the Marketing Mix
The Marketer’s tool box – the Marketing Mix
• Product – anything that is offered to consumers for their
satisfaction. This includes services too!
• Price – what consumers give up for the product
• Place – where, when and how consumers access and
possess the product
• Promotion- communication between the provider of the
product and the consumer.
The marketing orientation has evolved
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1st Stage- The production orientation
2nd Stage- The sales orientation
3rd Stage- The marketing orientation
4th Stage- The Relationship Era
History of Marketing
• Marketing - satisfying a customer’s needs and wants at a profit.
• You will come across the word “RELATIONSHIP” frequently.
• Marketing is a concept that has evolved over time.
• The first era was called “the production era”.
• Businesses focused most of their efforts on increasing the efficiency of their
production lines.
• Henry Ford was known by some as “The Godfather of the Production Era”.
- You can have a car in any color you want…as long as it’s in black.
- Henry Ford was not particularly interested that some customers may have wanted their
cars in blue, white, and green or orange; he wanted to make his life as easy as
possible.
History of Marketing
• Next came the “sales era,” pre-950’s.
• The concept was that creative advertising and selling would
convince consumers to buy a product or service. No focus on
the customer’s needs and wants.
• The “marketing era” came next.
• This concept was revolutionary - for the first time, businesses
were approaching the consumer asking them what products or
services they would like. Businesses focused on the needs and
wants of the clients.
• Today, we are in the “relationship era,” which focuses on longterm relationships with customers and other partners to achieve
success.
What is the marketing concept?
• A managerial philosophy involving
- The satisfaction of consumer needs and wants
- The coordination of activities
- Satisfaction of goals
- In a coordinated way
- The basic management process- plan, organize, lead, control
What is customer relationship marketing?
• Long term
• Mutually satisfying
• Buyers and sellers both benefit
What is Value?
• Benefits minus costs = Value
- Benefits are what customers get out of a product
- Costs can take many forms
- Money
- Time
- Risk
- Aggravation
- Other?
Marketing does not exist in a vacuum
• Marketers must consider the External Environment
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the economy
demographic changes
social and cultural changes
technological changes
the natural environment has an impact
politics and laws
Marketing is crucial to the global economy
• Marketing costs are high
• Marketing is important to both organizations that make profits and
those that do not
• The global economy is fueled by new products and services
• Consumers learn from marketing communications
• Marketing can be used for both profit and for furthering the interests
of society
• Marketing offers many careers
You Have Marketing Experience
• Every person in this class has a degree of marketing
experience. We are marketed to as consumers on a daily
basis.
-Consider ads and promotions that attract your attention.
Are you more easily reached via mailings, radio,
television, billboard, or online advertising?
-What factors influence your purchasing decisions?
-Price
-Convenience
-Service
-Product availability
• How do you think you can apply marketing concepts to either
your career or personal life?
Strategic Planning
• The process of establishing an organizational mission
and formulating OVERALL goals, corporate strategy,
marketing objectives, marketing strategy, and a
marketing plan.
• Mission- What the company does.
• Vision- What the company aspires to do in the future.
What is a marketing strategy?
A plan of action for identifying and analyzing a
target market and developing a marketing mix
to meet the needs of that market.
What is a marketing plan?
• A written document that specifies those activities to be
performed to implement and control an organization’s
marketing activities.
Core Competencies and Competitive
Advantage
• Core competencies are those
things a firm does extremely
well.
• Competitive advantage is the
result to a company’s matching
a core competency to
opportunities in the
marketplace.
SWOT Analysis
• Internal
- Strengths
- Weaknesses
• External
-Opportunities
-Threats
Any Questions?
Thank you for attending!
See you next week!