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Marketing Management Intro Lecture Recap. Ernie Timmons Faye Timmons Mike Barrett Seth Chadwick. Marketing. What is Marketing?. Marketing.

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marketing management intro lecture recap

Marketing ManagementIntro Lecture Recap

Ernie Timmons

Faye Timmons

Mike Barrett

Seth Chadwick

  • What is Marketing?
  • The management process through which goods and services move from concept to the customer. It includes the coordination of four elements called the 4 P's of marketing:
    • Identification, selection and development of a product,
    • Determination of its price,
    • Selection of a distribution channel to reach the customer's place, and
    • Development and implementation of a promotional strategy.
marketing evolution key dates
Marketing Evolution: Key dates
  • 1450: Gutenberg's metal movable type, leading eventually to mass-production of flyers and brochures
  • 1836: first paid advertising in a newspaper (in France)
  • 1864: earliest recorded use of the telegraph for mass unsolicited spam
  • 1867: earliest recorded billboard rentals
  • 1880s: early examples of trademarks as branding
  • 1908: Harvard Business School opens
  • 1922: radio advertising commences
  • 1941: first recorded use of television advertising
  • 1950s: systematization of telemarketing
  • 1980s: development of database marketing as precursor to CRM[5]
  • 1980s: emergence of relationship marketing
  • 1980s: emergence of computer-oriented spam
  • 1990s CRM and IMC (in various guises and names) gain dominance in promotions and marketing planning,[7][8]
  • 1995-2001: the Dot-com bubble temporarily re-defines[citation needed] the future of marketing
  • 2000s: Integrated marketing gains acceptance and in 2002 its first dedicated academic research centre[9][10]
marketing approaches
Marketing Approaches
  • Value
    • Customer Focus
  • Exchange
    • Transaction Focused

Either approach involves providing a Product or Service the buyer perceives as valuable

customer orientation siva solution information value access
Customer OrientationSIVA (Solution, Information, Value, Access).
  • Renames four Ps to provide a customer focus. The SIVA Model provides a demand/customer-centric alternative to the well-known 4Ps of marketing management.

Product → Solution

Promotion → Information

Price → Value

Place (Distribution) → Access

  • That which provides value to customer
  • Constructive Criticism helps marketers adapt product offerings to meet changing customer needs
promotion marketing vs advertising
Promotion:Marketing vs. Advertising
  • Advertising: The paid, public, non-personal announcement of a persuasive message by an identified sponsor; the non-personal presentation or promotion by a firm of its products to its existing and potential customers.
  • Marketing: The systematic planning, implementation and control of a mix of business activities intended to bring together buyers and sellers for the mutually advantageous exchange or transfer of products.
  • Single component of the marketing process.
  • Part of Promotion - getting the word out
  • Includes the placement of an ad in such mediums as newspapers, direct mail, billboards, television, radio, and the Internet.
  • Largest expense of most marketing plans, with public relations following in a close second and market research not falling far behind.
successful ad campaigns
Successful Ad Campaigns
  • Just Do ItNike adopted this slogan in 1988 while in the midst of financial difficulties.

successful ad campaigns1
Successful Ad Campaigns
  • Think SmallVolkswagen has produced what seems like an infinite number of clever advertising slogans and campaigns over the years, but perhaps the most highly regarded of them was their 1959 slogan, "Think Small." Volkswagen was trying to sell their small Beetle in a time when big cars were the norm.
successful ad campaigns2
Successful Ad Campaigns
  • Have You Had Your Break Today?McDonald's is another company that has come up with a phenomenal number of catchy slogans over the years. In 1995, McDonald's asked consumers a simple question in their advertisements: "Have You Had Your Break Today?" This catchy slogan provided a revamp to the successful 1980 slogan, "You Deserve a Break Today."
successful ad campaigns3
Successful Ad Campaigns
  • A Diamond Is ForeverThis simple slogan was launched back in 1947, and is still in use today.
successful ad campaigns4
Successful Ad Campaigns
  • Got Milk?This long-running slogan was first launched in 1993 to encourage consumers to drink more milk. Many of the ads that use this slogan feature celebrities with milk mustaches, or individuals trying to swallow sticky food items that are in need of a refreshing drink to wash it down.
  • Cost of Product
  • Value the Product provides to Customer
  • Depends on Economic Factors
    • Take into Account Marketing Mix
  • Where product is available or where transaction takes place
  • With Internet, Place is everywhere for most non-essential goods
  • If you do not have the proper place you cannot compete in some industries
  • Make it easy to buy a product