Mkt 300 (Chapter 1)

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Marketing 300

January 9, 2013

Professor Montoya

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TODAY’S OBJECTIVE

• Course Overview

• Chapter 1

1. What is marketing?

2. What is the marketing concept? How has marketing

changed?

3. What are marketing functions? Who performs them?

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COURSE OBJECTIVES

• Illustrate analytical applications of marketing

practices

• To gain a cross-functional understanding of the role

of marketing in organizations.

• To think critically and creatively to address real-

world marketing issues

• To prepare you for a professional career by gaining

knowledge of marketing concepts

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COURSE STRUCTURE

• Survey course of marketing topics• For marketing majors: good foundation of

marketing concepts for other marketing courses.

• For non-marketing business majors: good

foundation of marketing concepts for a well-

rounded manager.

• Lectures, guest speakers, exams,team assignments/presentations

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WHAT’S EXPECTED OF YOU

• 3 Exams: 75% (25% each)• “Marketing in the News” Team

Assignment

• Paper: 15%

• Presentation: 10%

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CLASS ETIQUETTE

• No texting

• No web surfing – laptop use is a privilege that

can be revoked at my discretion

• Question? Raise your hand.

• Be attentive, prepared, and ready to learn!

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WHAT YOU CAN EXPECT FROM ME…

• To be prepared for every class

• To facilitate discussions on marketingmanagement topics

• To be knowledgeable of the material

• To learn from you

• To challenge you• To be accessible (phone or email)

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WHAT IS MARKETING?

Marketing is an organizational function and

a collection of processes designed to plan for,

create, communicate, and deliver value to

customers. Marketing also builds effective

customer relationships in ways that

benefit the organization

and its stakeholders.

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COMMON MISCONCEPTIONS ABOUT MARKETING

Marketing is not just about advertising

Advertising is simply one element of the marketing

mix

Marketing is not just sales

Business and Customer Partnerships

Customer Business Development

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The Meaning of Marketing

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Marketing

OrganizationalFunction

Collection of Processes

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ORGANIZATIONAL FUNCTION

CEO

Finance MarketingHuman

ResourcesProduction

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COLLECTION OF PROCESSES

Assemble Price Promote

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CREATING VALUE FOR CUSTOMERS

Value $

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UNDERSTANDING THE MARKET

Need Want

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UNDERSTANDING THE MARKET

Need Want

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MORE THAN JUST PRODUCTS

Marketing

Events

Products

Services

People

Places

Causes /Ideas

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MARKETING CONCEPT

What is the marketing concept?

How has marketing changed?

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Marketing Conceptis an

organizational philosophy dedicated to

understanding and fulfilling consumer

needs through the

creation of value.

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THE MARKETING CONCEPT

Value CustomerRelationships CustomerLoyalty

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THE MARKETING CONCEPT

Commitment to deliveringsuperior customer

satisfaction.

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EVOLUTION OF MARKETING

ProductionOrientation

SalesOrientation

ConsumerOrientation

RelationshipOrientation

1850 1950 Today

1908

Model T 1st Sold

1929

Great Depression

1945

World War II Ends

Seller’s Market Buyer’s Market

1980’s

Global Competition

19801930

How has marketing changed?

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CORPORATE SOCIAL RESPONSIBILITY

Social responsibility, ethics,

accountabilityHow do products affect the

global environment?

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MARKETING FUNCTIONS

What are marketing functions?

Who performs them?

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Marketing Functionsare activities

performed within organizations that

create value for specific products orservices.

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THE IMPORTANCE OF MARKETING

“…the business enterprise hastwo – and only these two –

basic functions: marketing andinnovation. Marketing andinnovation produce results; all

the rest are costs.” - Peter Drucker

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MARKETING FUNCTIONS

Marketing

Exchange

Physical

Facilitating

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MARKETING FUNCTIONS

CEO

Finance MarketingHuman

Resources

Production

The Organization

Customers

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INTERNAL MARKETING PARTICIPANTS

Marketing

Stakeholders

Board of Directors

Top Management

Other Business Departments

Marketing Department

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THE 4 P’S OF MARKETING

Product Price

Place Promotion

Customer

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FOR NEXT CLASS

• Review chapter 1

• Read chapters 2 & 3; skim chapter 11

• Team lists due by the end of next

class

Documents

Mkt 300 (Chapter 1)