Transcript Chapter 9: Marketing: Providing Value to Customers

Chapter 9: Marketing:
Providing Value to Customers
1.
2.
3.
4.
5.
6.
7.
8.
What is Marketing?
The Marketing Mix
Pricing a Product
Placing a Product
Promoting a Product
The Product Life Cycle
The Marketing Environment
Careers in Marketing
(cases and problems)
1. What is Marketing?
• Besides advertising and selling, what are the other 7
factors of marketing used to satisfy customer needs?
• What is the marketing concept? How does it work?
• What are the components of a marketing strategy?
• Discuss the steps in determining your target market
• Explain the difference between consumer market and
industrial market
• What are market segments and what are some of the
common characteristics that influence buyer decisions
2. The Marketing Mix
• What are the 4 P’s in the market mix?
• What kind of questions should you ask when conducting
market research?
• Explain the process of collecting secondary data and
primary data and describe methods for this collection
• What is branding and what are the three major branding
strategies?
• Name some factors that could establish branding equity
and promote branding loyalty
• What benefits in marketing are derived from packaging
and labeling?
3. Pricing a Product
• Explain skimming and penetration pricing
strategies
• Discuss the pros and cons of using the
following pricing strategies: cost-based
pricing, demand-based pricing, target
costing, prestige pricing, odd/even pricing
4. Placing a Product
• Discuss the pros and cons of the following
product placement distribution channels:
selling directly to customers, selling
through retailers, selling through
wholesalers
• What are the various forms and processes
used in physical distribution of products?
• Explain supply chain management and
value chain concepts
5. Promoting a Product
• Describe the elements of promotion mix
• What are some of the promotional tools
available to businesses and how do they
use them?
• How do you manage customer relations?
What is permission vs. Interruption
marketing?
6. The Product Life Cycle
• What are the four stages a product can go
through in its life cycle? How do they effect
sales and marketing of that product?
• Why is it important to track these cycles
and change marketing mix on these
products?
7. The Marketing Environment
• What are the external marketing
environment factors that influence how
businesses operate?
• Discuss the five components of the buying
process and the 5 psychological and four
social influences on buying behavior
8. Careers in Marketing
• Discuss career opportunities in the area of
business marketing. Which one(s) interest
you the most?
Cases and Problems
The class will divide into four groups:
Group 1 will address the Learning on the Web
section of chapter 9
Group 2 will address the Career Opportunities
section of chapter 9
Group 3 will address the Ethics Angle section of
chapter 9
Group 4 will address the Team-Building Skills
section of chapter 9
Be prepared to discuss your answers in your
groups in the next class session