Overview of Session n Marketing - what and why What is Marketing?What is Marketing? Why study...

Overview of SessionOverview of Session Marketing - what and whyMarketing - what and why

• What is Marketing?What is Marketing?• Why study Marketing?Why study Marketing?• Marketing PhilosophiesMarketing Philosophies• Trends in MarketingTrends in Marketing

The Marketing EnvironmentThe Marketing Environment• Micro-environmentMicro-environment• Macro-environmentMacro-environment• Managing the EnvironmentManaging the Environment

What is Marketing?What is Marketing?

What is Marketing?What is Marketing?

Marketing is the social and managerial Marketing is the social and managerial process by which individuals and process by which individuals and groups obtain what they need and want groups obtain what they need and want through creating and exchanging through creating and exchanging products and value with others. (Kotler products and value with others. (Kotler and Armstrong)and Armstrong)

What is Marketing?What is Marketing?

Marketing is the process of planning Marketing is the process of planning and executing the conception, pricing, and executing the conception, pricing, promotion, and distribution of ideas, promotion, and distribution of ideas, goods, and services to create goods, and services to create exchanges that satisfy individual and exchanges that satisfy individual and organizational objectives. (American organizational objectives. (American Marketing Association)Marketing Association)

Key ConceptsKey Concepts

Needs and WantsNeeds and Wants The “product”The “product” Customer satisfactionCustomer satisfaction ExchangeExchange MarketplaceMarketplace

Why Study Marketing?Why Study Marketing?• Marketing is omni-presentMarketing is omni-present

• Gain insight into cultureGain insight into culture• Be smart consumerBe smart consumer• Market oneself effectivelyMarket oneself effectively

• Marketing accounts for more than 50 cents of Marketing accounts for more than 50 cents of consumer dollar consumer dollar

• A well marketed product may outperform a A well marketed product may outperform a technologically better, poorly marketed onetechnologically better, poorly marketed one

• Good career opportunitiesGood career opportunities• FunFun

Marketing is OmnipresentMarketing is Omnipresent

The real thingThe real thing The friendly skiesThe friendly skies 99 9/10 pure99 9/10 pure Ring around the collarRing around the collar Ultimate driving machineUltimate driving machine Quality is job # 1Quality is job # 1 King of popKing of pop

How Would You Market How Would You Market Yourself?Yourself?

Production ConceptProduction Concept

Product ConceptProduct Concept

Selling ConceptSelling Concept

Marketing ConceptMarketing Concept

Societal Marketing ConceptSocietal Marketing Concept

Two Marketing Vision ProblemsTwo Marketing Vision Problems

Marketing MyopiaMarketing Myopia

Fuzzy VisionFuzzy Vision

Marketing Vision ProblemsMarketing Vision Problems

TelephoneTelephone

AirlineAirline

PetroleumPetroleum

InternetInternet

CommunicationsCommunications

TransportationTransportation

EnergyEnergy

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Environmental ForcesEnvironmental Forces

Micro-environmental forcesMicro-environmental forces

Macro-environmental forcesMacro-environmental forces• demographicdemographic• economiceconomic• naturalnatural• politicalpolitical• technologicaltechnological• culturalcultural

Managing the EnvironmentManaging the Environment

Environmental scanning Environmental scanning • ““Eternal vigilance is the price of liberty.”Eternal vigilance is the price of liberty.”

Proactive strategiesProactive strategies Reactive strategiesReactive strategies

Pick the odd one outPick the odd one out

EscalatorEscalator KeroseneKerosene Yo-yoYo-yo LinoleumLinoleum CornflakesCornflakes NylonNylon TrampolineTrampoline XeroxXerox

Trends in MarketingTrends in Marketing

Globalization of MarketsGlobalization of Markets

Diversification of Market Segments and Diversification of Market Segments and the Customizing of Productsthe Customizing of Products

Choice in Media and Advertising Choice in Media and Advertising ExposureExposure

What We Discussed TodayWhat We Discussed Today

Marketing - what and whyMarketing - what and why• What is Marketing?What is Marketing?• Why study Marketing?Why study Marketing?• Marketing PhilosophiesMarketing Philosophies• Trends in MarketingTrends in Marketing

The Marketing EnvironmentThe Marketing Environment• MicroenvironmentMicroenvironment• MacroenvironmentMacroenvironment• Managing the EnvironmentManaging the Environment