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Principles of Marketing MGT C04. Session 1 May 13, 2003. Structure for today: 3 questions. Who is this guy? What are we going to do for the next 12 Tuesday evenings? Most importantly…how do I score some rockin’ grades? What’s the big deal about Marketing?

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principles of marketing mgt c04

Principles of MarketingMGT C04

Session 1

May 13, 2003

Principles of Marketing MGT C04

structure for today 3 questions
Structure for today: 3 questions
  • Who is this guy?
  • What are we going to do for the next 12 Tuesday evenings?
    • Most importantly…how do I score some rockin’ grades?
  • What’s the big deal about Marketing?
    • An introduction to the context in which Marketing fits

Principles of Marketing MGT C04

who is this guy
Who is this guy?
  • R P Kumar
  • B.Sc. Mechanical Engineering, MBA (India)
  • 17 years in marketing/advertising, primarily on packaged goods businesses in India, Middle East and Canada
    • Vice-President, Director of Global Tools
    • Foote, Cone and Belding
      • At US$193MM, # 8 in USA revenue rankings
      • At US$379MM, among the world’s top ad agency brands
      • Member of the Interpublic Group, the world’s second largest communications supergroup (over US$6 Billion)
  • North American clients/brands worked on:
      • Kraft Canada: Delissio Pizza, Oreos, Chips Ahoy!, Kraft Salad Dressings, Crispers, Corn Nuts, Jell-O, Cool Whip, etc.
      • SC Johnson: Fantastik, Glade, Raid, Pledge, Ziploc, etc.
      • Tetley Tea
      • Circuit City

Principles of Marketing MGT C04

course goals
Course Goals
  • To outline the marketing function and its role within a corporation’s business strategies, also hopefully generating a passion for the Marketing discipline and empowering you to evaluate Marketing as a possible career choice
  • To introduce you to marketing strategy and to the elements of marketing analysis: customer analysis, company analysis, and competitor analysis
  • To familiarize you with the elements of the marketing mix (product, pricing, promotion, and distribution strategies) and enhance your problem solving and decision making abilities in these operational areas of marketing tactics

HAVE LOTS OF FUN!

Principles of Marketing MGT C04

text book
Text Book

Principles of Marketing

Fifth Canadian Edition

Philip Kotler, Gary Armstrong, Peggy H. Cunningham

Principles of Marketing MGT C04

what are we going to do in the next 12 sessions

Date

Topic

Readings/Material

Assignments Due

Week 1 (May 13)

Introduction to Marketing

Ch 1

Week 2 (May 20)

Marketing Process and Company Analysis

Ch 2, Ch 3

Group Names

Week 3 (May 27)

Customer Analysis: Buyer Behavior

Ch 5, Ch 6

Project Description

Week 4 (June 3)

Customer Analysis: Segmentation,

Targeting, Positioning

Ch 7

Week 5 (June 10)

Competitor Analysis

Lecture notes

Week 6 (June 17)

Marketing Research and Mid-Course Review

Ch 4

Week 7 (June 24)

Mid-Term Examination

July 1

Canada Day (Holiday)

Week 8 (July 8)

Product Policy: New Products

Ch 8, Ch 9

Group Assignment

Week 9 (July 15)

Pricing

Ch 10

Week 10 (July 22)

Communication and Advertising

Ch 13, Ch 14, Ch 15

Week 11 (July 29)

Channels of Distribution and

Course Recap

Ch 11, Ch 12

Week 12 (Aug 5)

Group Presentations

None

Group Project

Class Presentations

August 18-22

FINAL EXAMINATION

What are we going to do inthe next 12 sessions?…

Principles of Marketing MGT C04

and how do i score some really serious grades
…and how do I score some really serious grades?
  • There’s no rocket science to getting good grades
  • The secret: Work Hard!
  • Individual Evaluation:
    • Mid-term Exam 20%
    • Final Exam 35%
  •  Group Evaluation:
    • Group Project and Presentation 35%
    • Group Assignment 10%

Principles of Marketing MGT C04

group project and presentation
Group Project and Presentation
  • Take my advice…take this seriously! This can make or break your grade
  • First step: give me your groupings in next class
  • Read the course outline carefully for details on the project
  • Tip for good grades: Try to ensure this project is as close to real life as possible

Principles of Marketing MGT C04

what is marketing
What is Marketing?
  • Many definitions, but for the purposes of this class we’ll follow Kotler et al:

Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others

Principles of Marketing MGT C04

role of marketing in a business organisation
Role of Marketing ina Business Organisation
  • Marketing co-exists in companies as an equal partner with Operations and Finance/Accounting
  • In many organisations, Marketing personnel are the ‘natural’ future leaders (P&G, other consumer goods marketers)
  • Some companies are naturally attuned to having Finance experts (most banks, investment companies); or scientists (NASA); or
    • Discussion: is Marketing less important in such companies?

‘More than half the polled executives at 250 corporations ranked Marketing as the most important element of strategy’ - Yankelovitch, Skelly and White Survey, 1995

‘The fastest way up the corporate ladder is through the Marketing Department’ - Economist Survey, 1997

Principles of Marketing MGT C04

core marketing concepts 1
Core Marketing Concepts…1
  • Needs, Wants, and Demands
  • Products and Services
  • Value, Satisfaction and Quality
  • Exchange, Transactions and Relationships
  • Markets
  • Please go through the definitions from the text book…
  • Understand the words, the meanings…
  • …and forget about them!
  • Important to understand that marketing is all about concepts…the clearer they are, the easier your lives are going to be

Course Note: In this course, you will be tested on concepts, not as sterile definitions but on real-life application

Principles of Marketing MGT C04

core marketing concepts 2
Core Marketing Concepts…2

Needs, Wants, and Demands

  • Discussion: what’s the difference between these?
  • Discussion: why is it important to understand the difference?

Principles of Marketing MGT C04

core marketing concepts 3
Core Marketing Concepts…3

Products and Services

  • Discussion:
    • What’s the difference?
    • Can services be made into products?
    • Can products be made into services?

Principles of Marketing MGT C04

core marketing concepts 4
Core Marketing Concepts…4

Value, Satisfaction and Quality

  • Discussion: how would you calculate consumer value in:
    • Consuming a can of Coca-Cola?
    • Joining a health club?
    • Buying a lottery ticket?
    • Enjoying a massage at a spa?
  • Discussion: think of talk about an experience where as a consumer, you felt:
    • Satisfied with the value you received?
    • Dissatisfied with the value you received?

Principles of Marketing MGT C04

core marketing concepts 5
Core Marketing Concepts…5

Exchange, Transactions and Relationships

  • Discussion: an example of a non-monetary business transaction in our day-to-day life
  • Recently, as the owner of a particular brand of car, my friend received an invitation to an exclusive preview of their new luxury car, accompanied by cocktails and hors d’oeuvres:
    • What is the company trying to do?
    • How will it help them…immediately and in the future?
  • The ultimate marketing asset: an entire marketing network

Principles of Marketing MGT C04

core marketing concepts 216
Core Marketing Concepts…2

Markets

  • No longer defined as a physical space where transactions take place
  • In this course, when we refer to ‘Market’, it is in the sense of a collection of buyers and sellers in a particular need area, e.g. the housing market, or the commodity market
  • Discussion: name three markets

Principles of Marketing MGT C04

marketing management practice
Marketing Management Practice

Three stages

  • Discussion: think of examples (from your own lives or reading/knowledge), of companies/ individuals who are involved in the three forms of Marketing Management Practice:
    • Entrepreneurial
    • Formulated
    • Intrapreneurial

Principles of Marketing MGT C04

evolution of business models and the role of marketing

Marketing

Selling

Societal

Mktg

Production

Product

Evolution of Business Models and the role of Marketing

As business philosophy has evolved, so has the role of marketing…customer satisfaction is now at the core of most successful corporations

Principles of Marketing MGT C04

the marketing concept itself has evolved

1) Catering to the customer

2) Anticipating the customer

3) Leading the customer

The Marketing Concept itself has evolved

Principles of Marketing MGT C04

how does marketing fit into our lives today
How does Marketing fitinto our lives today?
  • Technological advances have allowed us to connect even more strongly with:
    • Customers
    • Marketing Partners
    • World in general
  • Discussion: how has the Internet impacted the role of marketing in your own lives?

Principles of Marketing MGT C04

recap
Recap
  • Today we’ve covered Chapter 1 of the text
  • We’ve reviewed definitions of some basic concepts…remember we have not yet reached the marketing terminology we will be dealing with for the majority of the course
  • There’s lots to come and lots to learn…the fun has just begun!

Principles of Marketing MGT C04