an overview of marketing
Download
Skip this Video
Download Presentation
An Overview of Marketing

Loading in 2 Seconds...

play fullscreen
1 / 41

An Overview of Marketing - PowerPoint PPT Presentation


  • 171 Views
  • Uploaded on

An Overview of Marketing. 1. chapter. Prepared by Deborah Baker Texas Christian University. Learning Objectives. 1. Define the term marketing 2. Describe four marketing management philosophies 3. Explain how firms implement the marketing concept

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'An Overview of Marketing' - Mia_John


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
an overview of marketing

An Overview of Marketing

1

chapter

Prepared by

Deborah Baker

Texas Christian University

Chapter 1 Version 3e

learning objectives
Learning Objectives

1. Define the term marketing

2. Describe four marketing management philosophies

3. Explain how firms implement the marketing concept

4. Describe the marketing process and identify the variables that make up the marketing mix

5. Describe several reasons for studying marketing

1

chapter

Chapter 1 Version 3e

learning objective
1Learning Objective

Define the term marketing

Chapter 1 Version 3e

what is marketing
1What is Marketing?
  • Personal Selling?
  • Advertising?
  • Making products available in stores?
  • Maintaining inventories?

All of the above, plus much more!

Chapter 1 Version 3e

what is marketing1
A Philosophy

An Attitude

A Perspective

A Management Orientation

A Set of Activities, including:

Products

Pricing

Promotion

Distribution

1

What is Marketing?

plus

Chapter 1 Version 3e

what is marketing2
1What is Marketing?

American Marketing Association Definition

Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and servicesto create exchanges that satisfy individual and organizational goals.

Chapter 1 Version 3e

the concept of exchange
At Least Two Parties

Something of Value

Necessary Conditions for Exchange

Ability to Communicate Offer

Freedom to Accept or Reject

Desire to Deal With Other Party

1

The Concept of Exchange

Chapter 1 Version 3e

the concept of exchange1
1The Concept of Exchange

The idea that people give up something to receive something they would rather have.

Chapter 1 Version 3e

conditions for exchange
1Conditions for Exchange
  • There must be at least two parties and each party…
  • Must have something the other party values
  • Must communicate and deliver goods
  • Must be free to accept or reject offer
  • Must want to deal with other party

Chapter 1 Version 3e

the concept of exchange2
NO SALE

1

The Concept of Exchange
  • Exchange may not take place even if conditions met
  • An agreement must be reached
  • Marketing occurs even if exchange does not take place

However...

Chapter 1 Version 3e

learning objective1
2Learning Objective

Describe four marketing management philosophies.

Chapter 1 Version 3e

marketing management philosophies
Competing

Philosophies

Production

Sales

Market

Societal Marketing

2

Marketing Management Philosophies

Chapter 1 Version 3e

marketing management philosophies1
Philosophy

Key Ideas

Production

Focus on efficiency of internal operations

Sales

Focus on aggressive techniques for

overcoming customer resistance

Market

Focus on satisfying customer needs and wants

Focus on satisfying customer needs and wants while enhancing individual and societal well-being

Societal

2

Marketing Management Philosophies

Chapter 1 Version 3e

market orientation requirements
2Market Orientation Requirements
  • Top management leadership
  • A customer focus
  • Competitor intelligence
  • Interfunctional coordination
  • Customer relationships

Chapter 1 Version 3e

societal marketing orientation
Marketing that preserves or enhances an individual’s and society’s long-term best interests

2

Societal Marketing Orientation
  • Less toxic products
  • More durable products
  • Products with reusable or recyclable materials

Chapter 1 Version 3e

learning objective2
3Learning Objective

Explain how firms implement

the marketing concept

Chapter 1 Version 3e

the marketing concept
2The 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.

Chapter 1 Version 3e

the marketing concept1
2The Marketing Concept

Focusing on customer wants and needs can be a source of competitive advantage by:

  • Creating customer value
  • Maintaining customer satisfaction
  • Building long-term relationships

Chapter 1 Version 3e

customer value
3Customer Value

The ratio of benefits to the sacrifice necessary to obtain those benefits

Chapter 1 Version 3e

customer value requirements
3Customer Value Requirements
  • Offer products that perform
  • Give consumers more than they expect
  • Avoid unrealistic pricing
  • Give the buyer facts
  • Offer organization-wide commitment in service and after-sales support

Chapter 1 Version 3e

customer satisfaction
3Customer Satisfaction

The feeling that a product has met or exceeded the customer’s expectations.

Chapter 1 Version 3e

maintaining customer satisfaction
3Maintaining Customer Satisfaction
  • Meet or exceed customer’s expectations
  • Focus on delighting customers
  • Provide solutions to customer’s problems

Chapter 1 Version 3e

relationship marketing
3Relationship Marketing

The name of a strategy that entails forging long-term partnerships with customers, both individuals and firms.

Chapter 1 Version 3e

relationship marketing s importance
Attracting a new customer may be

TEN TIMES

the cost of keeping

an old customer

3

Relationship Marketing’s Importance

Chapter 1 Version 3e

building long term relationships
3Building Long-Term Relationships
  • Customer-oriented personnel
  • Effective training programs
  • Empowered employees
  • Teamwork

Chapter 1 Version 3e

empowerment
3Empowerment

Delegation of authority

to solve customers’ problems quickly.

Chapter 1 Version 3e

learning objective3
4Learning Objective

Describe the marketing process and

identify the variables that make up

the marketing mix

Chapter 1 Version 3e

marketing process activities
4Marketing Process Activities

Understand the organization’s mission

Set marketing objectives

Gather, analyze, interpret “SWOT” information

Develop a marketing strategy

Implement the marketing strategy

Design performance measures

Evaluate marketing efforts--change if needed

Chapter 1 Version 3e

environmental scanning
4Environmental Scanning

Collection and interpretation of information about forces, events and relationships in the externalenvironment that may affect the future of the organization or the marketing plan implementation.

Chapter 1 Version 3e

environmental scanning1
4Environmental Scanning
  • Examination of macroenvironmental forces
    • Social
    • Demographic
    • Economic
    • Technological
    • Political / Legal
    • Competitive
  • Helps identify market opportunities
  • Provides guidelines for design of marketing strategy

Chapter 1 Version 3e

the marketing mix
4The Marketing Mix

A unique blend of product, distribution, promotion, and pricing strategies designed to produce mutually satisfying exchanges with a target market.

Chapter 1 Version 3e

marketing mix the four ps
4Marketing Mix: The “Four Ps”

Price

Promotion

Place

Product

Chapter 1 Version 3e

product strategies
4Product Strategies
  • The starting point of the “4 Ps”
  • Includes physical unit, package, warranty, service, brand, image, and value

Product

Chapter 1 Version 3e

distribution place strategies
4Distribution (Place) Strategies
  • Product availability where and when customers want them.
  • Involves all activities from raw materials to finished products

Place

Chapter 1 Version 3e

promotion strategies
4Promotion Strategies
  • Role is to bring about exchanges with target markets
  • Includes integration of personal selling, advertising, sales promotion, and public relations

Promotion

Chapter 1 Version 3e

pricing strategies
4Pricing Strategies
  • The most flexible of the “4 Ps”
  • Price X Units Sold = Total Revenue

Price

Chapter 1 Version 3e

learning objective4
5Learning Objective

Describe several reasonsfor studying marketing.

Chapter 1 Version 3e

why study marketing
5Why 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 Version 3e

why study marketing1
5Why Study Marketing?

“Marketing is too important

to be left to the

marketing department.”

--David Packard

Hewlett-Packard

Chapter 1 Version 3e

why study marketing2
Professional Selling
  • Marketing Research
  • Advertising
  • Retail Buying
  • Distribution Management
  • Product Management
  • Product Development
  • Wholesaling

5

Why Study Marketing?
  • 1/4th to 1/3rd of the entire civilian workforce in the U.S. performs marketing activities
  • Fastest route up the corporate ladder

Chapter 1 Version 3e

why study marketing3
5Why Study Marketing?
  • Half of every dollar spent by consumers pays for marketing costs
  • Become a better-informed consumer

Chapter 1 Version 3e

ad