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This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part without permission.
Marketing 3331 Intro to Marketing Concepts and Strategies
This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part without permission.
Hello! I am Musanna Al-Muntasir I am here because I am passionate about marketing. You can email me at almuntas@uiwtx.edu.
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This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part without permission.
IN MARKETING NEWS TODAY
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This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part without permission.
IKEA actually wants you to pee on their ad. Great news, Ikea shoppers! Thanks to a new print ad you can find out if you’re pregnant and discover a discount on a crib. S ource: https:/ / www.huffingtonpost.com/ entry/ ikea- wants- pregnant- women- to- pee- on- this- ad- for- a-discount- on- a-crib_us_5a561c10e4b0b117f881206a
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This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part without permission.
Diet Coke Launches Full Brand Restage. An updated look, new packaging, the debut of four new flavors and a new campaign; modernizing Diet Coke for a new generation of drinkers. Source: http:/ / www.coca-colacompany.com/ stories/ diet-coke-relaunch
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This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part without permission.
Creating customer relationships and value through Marketing You start by bringing the attention of your target audience over a key concept using icons or illustrations
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This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part without permission.
What does marketing do? • Discover the needs and wants of customers • Satisfy those needs and wants
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What influences marketing actions? ● The Organization Itself and Its Departments ● Society ● Environmental Forces
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This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part without permission.
What influences marketing actions?
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For marketing to occur requirements need to be met
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● Two + parties with unsatisfied needs
● A desire and ability to be satisfied
● A way for the parties to communicate
● Something to exchange
This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part without permission.
Discovering Consumer Needs • Consumers May Not Know or Cannot Describe What They Need or
Want • 94% of 40,000 new products fail
• Most new products fail • The challenge lies with focusing on consumer benefits and
learning from past mistakes.
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Needs vs Wants • Does Marketing persuade people to buy the “Wrong” things?
• 94% of 40,000 new products fail • What is a market?
• A market exists when people have the desire and economic ability to buy an offering.
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This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part without permission.
Find consumer needs through market research.
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What is a target market? • Target markets are groups of customers targeted by marketing
programs
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The Marketing Mix The Four Ps
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1 Product Price
2 Place
3 Promotion
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CONTROLLABLE FACTORS
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Customer Value Proposition Benefits promised to customers to satisfy their need.
Things not in your control
Environmental Forces ● Social ● Economic ● Technological ● Competitive ● Regulatory
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Quotations are commonly printed as a means of
inspiration and to invoke philosophical thoughts from the
reader.
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Customer value strategies
Best Price Best Service Best Product
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Customer Value Benefits to the buyer from their products and services
This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part without permission.
What is US Bank’s value strategy in their ad?
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Relationship Marketing • It’s easy to understand but hard to do! • Your requirements to get started:
• A well established and researched marketing program • Target of specific market segments
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Discovering and satisfying student needs. Post-It® Notes + Felt-Tip Markers = Post-It® Flag Pen
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How did Post-It® target college students and offices?
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They went to the next level.
Post-It® Notes + Felt-Tip Markers + Highlighters = Post-It® Flag Highlighter
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Marketing Concept • It’s the idea that organizations satisfy the customers’ needs while
achieving organization’s goals
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America’s hottest retailer
● Set low prices ● Offered unusual products ● Employee engagement
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Market Orientation Focusing efforts to collect and use information to create customer value.
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Customer Relationship Management • Identify and develop offerings for buyers • The customer experience
• What firms think they can offer customers • W hat customers say they receive
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Who markets? Everyone! What is marketed? Everything! ● Products (goods) – Physical items ● Ideas – Intangible (concepts/ causes) ● Services – Intangible
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Who benefits from what is bought and used?
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Society as a whole
Concumers who buy
Organizations that sell
Businesses that
buy
This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part without permission.
How do consumers benefit? Form Utility ● Production of the production or service Place Utility ● Having an offering where consumers are located Time Utility ● Having it available when needed Possession Utility ● Value of making the purchase easy
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