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MKTG 504 - MARKETING
Introduction
Dr. Dennis Pitta
University of Baltimore
What is Marketing?
Social Activity - carried on by
human beings.
Aimed at satisfying NEEDS +
WANTS.
Exchange!!
MARKETING
Process in SocietyPeople and organizations with
diverse wants and needs
ATTEMPT to satisfy them by
forming mutually satisfying
exchange relationships.
Of what value are dogs?
Dogs are...
________________
________________
________________
________________
________________
________________
Why would Pitta want a dog?
Wants are….
Diverse
Can be really unique
Not always identified easily
Great - great motivators
The result…..
Two just to be sure!!
Ways of Satisfying
NEEDS and WANTS
Coercion
Transfer
Origination
Exchange
Net Satisfaction by Method
Party 1
Origination
Coercion
Transfer
Exchange
Party 2
Net
Marketing Exchange …
COMPLEX
Let’s take a car example
1989 Honda Accord
($1,000) _________________
Marketing Exchange …
COMPLEX
Let’s take another car
example
2007 Rolls Royce Silver
Wraith ($250,000)
_________________
Marketing Exchange…
COMPLEX
Let’s take another car
example
2007 Volvo 4 W drive
station wagon ($49,000)
_________________
Marketing Exchange
COMPLEX
Let’s take yet another car
example
1970 VW Beetle with
‘Continental hood and rear’
($4,000) _________________
Marketing Exchange
COMPLEX
UTILITARIAN
SYMBOLIC
PSYCHOLOGICAL
SOCIAL
Marketing and Utility
UTILITY = The satisfaction
value, or usefulness a user
receives from a good or
service in relation to his or her
wants.
(( Utility = SATISFACTION))
MARKETING CREATES:
PLACE UTILITY
TIME UTILITY
POSSESSION UTILITY
Ancient History
Marketing - as an academic
discipline - dates back to ~
1921.
Universal Marketing Function
Buying
Selling
Transporting
Storing
Standardizing and Grading
Finance
Risk Taking
Market Investigation
Gaps in Marketing
Gaps exist between
those with wants
and those who can
satisfy those wants
Gaps in Marketing
Perceptual
Temporal
Spatial
Valuational
Ownership
Gaps in Marketing
Perceptual
First
Person
Temporal
Spatial
Valuational
Ownership
Second
Person
Bridging Gaps in Marketing
Perceptual (Communication)
Temporal ( Storage)
Spatial (Transportation)
Valuational (Communication)
Ownership (Exchange)
Bridging Gaps in Marketing
Perceptual
======COMMUNICATION=====
First
Person
Temporal
======STORAGE=====
Spatial
=====TRANSPORTATION===
Valuational
=====COMMUNICATION=====
Ownership
=====EXCHANGE=====
Second
Person
The Evolution of Marketing
Production Orientation
Sales orientation
Marketing Orientation
Social Orientation
Production Orientation
Production emphasized
Company focus
Consumer often ignored
Sales Orientation
Company Focus
Sales (volume) Emphasized
Stress on Selling Tactics
Marketing Orientation
Focus: the Consumer
Profit Orientation
Integration of the Firm
Societal Orientation
Focus: the Consumer
Profit Orientation
Integration of the Firm
Recognition that society is an
Exchange Partner
Upcoming Topics
Marketing’s Environment