marketing introduction and overview. what is marketing? delivering value, benefits & solutions...
TRANSCRIPT
MARKETING
Introduction and Overview
WHAT IS MARKETING?
Delivering value, benefits & solutions to customers
People not buying products but solving problems/needs
Firm – stakeholders besides customersemployees satisfaction leads to customer
satisfaction
INSIGHTS INTO MARKETING
Starbucks – Howard Schulz
Mgmt Guru -- Peter Drucker
Revlon -- Charles Revson
Sony -- Akio Morita
EXCHANGE
2 parties each with something of value to
others each capable of comm. & delivery FREEDOM to accept or reject appropriate/desirable to deal with other both better off after transaction key: must reach an AGREEMENT for
exchange to occur
WHY MARKETING?
Marketing function imperative for organizational success
Hypercompetitive marketplace
Highly discriminating customers
Changing consumer needs
MARKETING MANAGEMENT PHILOSOPHIES
Production orientation Sales orientation – me first, customer 2nd Market orientation – customer is king
(Japan: Customer is god) Marketing orientation -- focus on
Consumer needs INTEGRATE all activities serve C long term goals
Societal marketing orientation: preserve individual & society’s interest Duracell: less mercury & toxic level
WHAT’S THE DIFFERENCE BETWEEN SALES & MARKETING?
SELLING INWARD focus on efficiency, operational issues
MARKETING: focus on customer value provide quality they expect at a price they are willing to pay at all levels of quality and price range
WHY PRODUCTS SUCCEED?
Products that perform earn trust
Avoid unrealistic pricing
organization wide commitment to post sales support
CUSTOMER SATISFACTION
The key to any organization’s success is it delivers satisfaction to its clientele
Organization culture geared towards creating customer value via customer satisfaction
Build RELATIONSHIPS
Human Resource function & training key – Customer-oriented employees via empowerment & teamwork
WHY STUDY MARKETING?
Important role in society – to produce & deliver needed products and services priced promote
Important to BIZ survival, profits, growth
Career opportunities
Affects our daily lives – unending exposure
CORE MARKETING CONCEPTS
Needs, wants, demands, preferences Segmentation, targeting, positioning Offerings and brands Value and satisfaction Marketing channels Supply chain Competition Marketing environment