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Pearson Education Limited 2003Morrissette 2006

OHT 1.1

Brassington and Pettitt: Principles of Marketing, 3rd Edition

MASTERING

Marketing dynamics

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OHT 1.2


Marketing (defined)

Marketing is the management process responsible for

identifying, anticipating, and satisfying customerrequirements profitably. (CIM, 2001)

Marketing is the process of planning and executing the

conception, pricing, promotion and distribution of ideas,goods and services to create exchange and satisfy

individual and organisational objectives. (AMA, 1985)

Marketing is the art of making optimal use of available

resources and forces in order to harness and capitalizeupon market opportunities. (Morrissette, 2006)

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OHT 1.3


Marketing - points of agreement

(CIB & AMA)

Management process

Manage resources: people, time & money

Giving customers what they want

Meet needs in competitive environment

Identifies and anticipates customer requirements

Use of history, research, projections, holographic, JIT

Fulfils customers requirements profitably

Return On Investment (ROI)

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OHT 1.4


Marketing - American Style

Offers and exchanges ideas, goods and services

Relationship marketing = feedback loop

Assumption that both parties value

what the other has to offer(mutual value/respect)

Repeat business, Pareto 80

Proactive selling and willing buyers

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OHT 1.5


Value of the CIM and AMA

Popular definitions

Do they reflect the role and reality of marketing in the

21st Century?

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OHT 1.6


Marketing defined

Marketing is to establish, maintain and enhance

relationships with customers and other partners, at a profit,

so that the objectives of the parties involved are met.

This is achieved by mutual exchange and fulfilment ofpromises.

Grnroos 1997

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OHT 1.7


Marketing Outputs

Products/services that meet consumers needs

Advertising

Promotions

News reports and information about companies and itssuccesses/failures

Attractive retail outlets

Attractive prices

Strategic Alliances

Product Placement

Sponsorships On-site & Perihperal

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OHT 1.8


Marketing activities/tasks

Identifying customer needs and motives - bringing youproducts/services you want now and in the future

Offering products at prices you can afford

Providing information to make informed choices

Satisfying consumer choices and giving value

Inducing trial switching and referral

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OHT 1.9


Business Orientations

Production

Optimization of manufacturing resources & process

Product

Design/configuration to best fit marketIt terms ofConsumer preferences & Competition

Selling

Distribution channel [pipeline] management

Marketing

Market intelligence & intervention, loop back to R&D start

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OHT 1.10


Production & Product Orientation

Table 1.1

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OHT 1.11


Selling & Marketing Orientation

Table 1.1 cont.

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OHT 1.12


Corporate & Social Responsibility (CSR)

Societal and ethical marketing

An emergent and growing marketing philosophy

As companies continually strive to find effective ways to

attract and retain customers

Importance of handling marketing responsibly in a way

that contributes to the well being of society

Links between good ethics, market share and

profitability

Companies not only consider its customers and itsprofitability but also the good of the wider community

(local and globally)

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OHT 1.13


Who are the Ethical consumers?(RogerCowe and Co-operative Banks head of corporate affairs)

as quoted by Mason, 2000 UK report

The potential for ethical products and services in the UK

could be as high as 30% of consumer markets.

52% of consumers had recommended companies because

of the companies responsible reputation.

44% of consumers had avoided a product or service

because of a companys behaviour.

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OHT 1.14


CSR and its Impact

on the Marketing Process

Internalisation of costs (making the polluters pay)

Green taxes

Legislation

Support for cleaner technology

Redesigned products for recycling

Reverse distribution channels to receive products forrecycling

Consumer education on sustainability

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OHT 1.15


Sustainable marketing

The establishment, maintenance and enhancement ofcustomer relationships,

so that the objectives of the parties involved are met,

without compromising the ability of future generations toachieve their own objectives.

Brassington & Pettitt, 2002

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OHT 1.16


The External Organisational Environment

Figure 1.3

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OHT 1.17


Marketing as an interface

Figure 1.4

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OHT 1.18


The basic marketing mix (4Ps)

Figure1.5

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OHT 1.19


The extended marketing mix (7Ps)

Price

Product

Place

Promotion

People

Processes

Physical evidence

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OHT 1.20


AssignmentEmail to [email protected]

before 20h00 September 13

Your picture

Your name in Chinese, pinyin, English

Your student number

One paragraph [3 to 6 sentences] describing what typeof career you would like to have after you finish uni and

how you think marketing will help you do a better job.

Email to [email protected] BEFORE

September 13th 20h00

Documents

MAR01 Lesson 1 - Ch01