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Marketing. Marketing ’ s Value to Consumers, Firms & Society Professor Close. Objectives. Provide students with an overall introduction to marketing Customer service and satisfaction Talk about the components of marketing Briefly mention about the history of marketing

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Marketing’s Value to Consumers,

Firms & Society

Professor Close

  • Provide students with an overall introduction to marketing
  • Customer service and satisfaction
  • Talk about the components of marketing
  • Briefly mention about the history of marketing
  • What is the importance of marketing
some ideas of marketing
Some Ideas of Marketing
  • Traditional Approach
    • Selling & Advertising (one part)
    • What else?
  • Customer Satisfaction
    • What do you think it means? Are there any examples where you were really satisfied or not satisfied?
    • Examples: Nordstrom, Southwest Air
  • Marketing requires 2 or more parties to trade items of value
  • Marketing’s job is NOT to get rid of things produced by the firm
marketing micro defined
Marketing (Micro) Defined
  • Marketing is accomplishing the firm objectives by anticipating client needs & directing a flow of need-satisfying products to customers
  • Everything we do to get and keep a customer
  • Begins with the customer
  • Series of sales
history of marketing 1
History of Marketing (1)
  • Always marketing? Sort of….
  • Pure subsistence economy: make all the products you consume
  • Other disciplines
    • Economics
    • Sociology
    • Psychology
  • 1906-1911: marketing emerges as a noun
history of marketing 2
History of Marketing (2)
  • The marketing eras:
      • The simple trade era (trading of simple goods)
      • The production era (Industrial evolution)
      • The sales era (emphasis on selling because of competition)
      • The marketing department era (when all marketing activities are under the control of one department)
      • The marketing company era (involves short and long run planning)
importance of marketing
Importance of Marketing
  • Approx. 50% prices
  • Everyone needs it! (politicians, churches, resumes)
  • How is marketing important to you?
marketing utility
Marketing Utility
  • Form Utility (Audi)
  • Task Utility (Bellagio)
  • Possession Utility (right to use or consume a product)
  • Time Utility (having the product available when the customer wants it)
  • Place Utility (having the product where the customer wants it)
what is macro marketing 1
What is Macro-Marketing? (1)
  • Macro-Marketing: directing the overall flow of goods and services to consumers in a way that:
    • Matches supply and demand (good)
    • Accomplishes society’s objectives (the question)
    • Focuses on individual firms
what is macro marketing 2
What is Macro-Marketing? (2)
  • What about society?
    • The micro-macro dilemma: “What is good for the individual may not be good for society.”
    • Difficult questions (health care, marketing to children, tobacco)
    • Trend is toward market direction, not regulation (Calif. Utilities, telephone)
marketing s importance to society
Marketing’s Importance to Society
  • Economic Development: exchange allows
    • Specialization
    • Leisure
    • What else can you think of?
  • Issues
    • Micro and macro issues again
    • Trends
      • Freer trade
      • WTO: encourages international trade

WTO: Is it good or bad??

questions about marketing
Questions about Marketing
  • Satisfaction: is just satisfaction enough?
  • Who performs
    • Cannot eliminate
    • Can shift burden
  • “Quality” of the system
    • Plusses
      • Connects remote
      • Innovation
      • Efficiency
      • What other plusses do you see with marketing?
    • Minuses
      • Rich benefit vs poor
      • Marketing is misleading; sometimes intentionally
      • Privacy is poor
      • Credit causes indebtedness
      • What other minuses do you see with marketing?
  • What is marketing?
  • How is it different from advertising?
  • Macro-marketing takes on an entire system approach
  • Individuals view marketing differently
  • Any other questions?