slide1 l.
Download
Skip this Video
Download Presentation
Lamb, Hair, McDaniel

Loading in 2 Seconds...

play fullscreen
1 / 30

Lamb, Hair, McDaniel - PowerPoint PPT Presentation


  • 155 Views
  • Uploaded on

Lamb, Hair, McDaniel. 2010-2011. CHAPTER 1. An Overview of Marketing. Learning Outcomes. LO 1 Define the term marketing LO 2 Describe four marketing management philosophies LO 3 Discuss the differences between sales and market orientations

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 'Lamb, Hair, McDaniel' - treva


Download Now 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
slide1

Lamb, Hair, McDaniel

2010-2011

CHAPTER 1

An Overview of Marketing

slide2

Learning Outcomes

LO 1 Define the term marketing

LO 2 Describe four marketing management philosophies

LO 3 Discuss the differences between sales and

market orientations

LO 4 Describe several reasons for studying marketing

what is marketing
What Is Marketing?

Define the term marketing

LO1

marketing
Marketing…
  • Stresses Customer Satisfaction
    • A Philosophy
    • An Attitude
    • A Management Orientation
    • A Set of Activities
      • Products
      • Promotion
      • Pricing

LO1

what is marketing5
What Is Marketing?

American Marketing Association Definition

Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

LO1

what is marketing6

More investment

Stockholder

satisfaction

Growth andprofits

Repeat business

Higher quality

Greater effort

What Is Marketing?

Employee satisfaction

LO1

exchange

At Least Two Parties

Something of Value

Conditions for Exchange

Communication and Delivery

Freedom to Accept or Reject

Desire to Deal with Other Party

Exchange

LO1

exchange8
Exchange
  • Exchange may not take place even if conditions are met
  • An agreement must be reached
  • Marketing occurs even if exchange does not take place

LO1

slide9

Customer valueand beneficial relationships

Creating

Value

Place

Product

Exchange

A B

Delivering

Value

Communicating

Value

Price

Promotion

LO1

marketing management philosophies
Marketing Management Philosophies

Describe four marketing management philosophies

LO2

slide11

The Four Marketing Management Philosophies

Sales

Market

Societal

Production

Orientation

Focus is on…

internal capabilities of the firm

aggressive sales techniques and belief that high sales result in high profits

satisfying customer needs and wants while meeting objectives

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

LO2

production orientation

LO2

Production Orientation
  • Field of Dreams orientation
    • “If you build it, they will come.”
    • Doesn’t consider if what is produced meets market needs
sales orientation
Sales Orientation
  • Selling = Collecting Money
    • Disregards market needs and consumer demand.
    • Failing to recognize what the customer wants leads to business failures
      • Dot-com busts in late 1990’s

LO2

market orientation
Market Orientation

Marketing Concept

  • Focusing on customer wants and needs to distinguish products from competitors’ offerings
  • Integrating all the organization’s activities to satisfy these wants
  • Achieving the organization’s long-term goals by satisfying customer wants and needs legally and responsibly

LO2

achieving a marketing orientation
Achieving a Marketing Orientation
  • Obtain information about customers, competitors, and markets
  • Examine the information from a total business perspective
  • Determine how to deliver superior customer value
  • Implement actions to provide value to customers

LO2

societal marketing orientation
Societal Marketing Orientation

An organization exists not only to satisfy customer wants but also to preserve or enhance individuals’ and society’s long-term best interests.

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

LO2

questions that help determine marketing philosophy

Orientation

Focus

Production

What can we make or do best?

Sales

How can we sell more aggressively?

Marketing

What do customerswant and need?

Societal

What do customers want/need, and how can we benefit society?

Questions That Help Determine Marketing Philosophy

LO2

slide18

Listen to your customers...

… but look to the future, as well.

"If I had asked my customers what they wanted," Henry Ford once remarked, "they would have said a faster horse."

Tom Kelley with Jonathan Littman, The Ten Faces of Innovation: IDEO's Strategies for Defeating the Devil's Advocate and Driving Creativity Throughout Your Organization, Currency/Doubleday, 2005

LO2

sales and marketing orientations
Sales and Marketing Orientations

Discuss the differences

between sales

and market

orientations

LO3

comparing the sales and market orientations
Comparing the Sales and Market Orientations

Compare through 5 categories:

  • Organization’s focus
  • Firm’s business
  • Those to whom the product is directed
  • Firm’s primary goal
  • The tools used to achieve those goals

LO3

customer value requirements
Customer Value Requirements
  • Offer products that perform
  • Earn trust
  • Avoid unrealistic pricing
  • Give the buyer facts
  • Offer organization-wide commitment in service and after-sales support
  • Co-creation with customers

LO3

building relationships
Building Relationships
  • Customer-oriented personnel
  • Employee training programs
  • Empowered employees
  • Teamwork

LO3

relationship marketing
Relationship Marketing

Successful strategies need:

  • Customer-Oriented Personnel
  • Effective Training Programs
  • Empowered Employees
  • Teamwork

LO3

slide24

Challenging economy

+ Lack of middle managers

+ Aging workforce

“War for new talent”

or training from within

Building From Within

Today's companies must build their management teams from within, putting more emphasis (and money) on rapidly training younger employees for greater responsibilities.

LO3

SOURCE: The Corporate Learning Factbook® 2008: Statistics, Benchmarks and Analysis of the U.S. Corporate Training Market, Bersin & Associates / Karen O’Leonard, January 2008.

defining a firm s business
Defining a Firm’s Business

Use “benefits” instead of “goods/services”

  • Ensures a customer focus
  • Encourages innovation and creativity
  • Stimulates an awareness of changes in customer preferences

http://www.britannica.com

LO3

slide26

Sales vs. Market Orientations

Primary

Profit Goal?

For

Whom?

Organization’s

Focus

Firm’s

Business

Tools to Achieve

Sales Orientation

Inward

Selling goods and services

Everybody

Maximum sales volume

Primarily promotion

Customer satisfaction

Market Orientation

Outward

Coordinated use of all marketing activities

Satisfying wants and needs

Specific groups of people

LO3

why study marketing
Why Study Marketing

Describe several reasons for studying marketing

LO4

slide28

Why Study Marketing?

ImportanttoSociety

ImportanttoBusiness

GoodCareerOpportunities

+

Marketing affects you every day!

Reasons for Studying Marketing

LO4

why study marketing29

Vital Marketing Activities

Assess the wants and satisfaction of customers

Design and manage product offerings

Determine prices and pricing policies

Develop distribution strategies

Communicate with present and potential customers

Why Study Marketing?

LO4

marketing trends
Marketing Trends

YouTube “Celebrity” endorsements

  • Popular channel stars get money for using or hyping products or companies
  • Videos release to coincide with school release times
    • Popular in Tween markets
      • “Fred” is the second most popular channel on YouTube http://www.youtube.com/fred

Source: “Playing the Web Card: YouTube Breakout Stars New Faves of Marketers,” wwd.com, August 18, 2009; Albrecht, Chris. “’Fred’ Cranks up the YouTube Views and Ad Dollars,” BusinessWeek, November 18, 2008, online at http://www.businessweek.com/technology/content/nov2008/tc20081118_508970.htm

LO4