1 Marketing MARKETING AN INTRODUCTION

1
MARKETING AN INTRODUCTION
Armstrong/Kotler
Marketing
Creating and Capturing Customer Value
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
Chapter Outline
•
What is Marketing?
•
Market management orientation
•
Role of marketing:
– Satisfy customer needs and wants
– Build customer relationship
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What is Marketing
Based on your knowledge and experience,
what is the major role of marketing for a
company?
1-3
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Marketing Concept
• The process by which companies create value
for customers and build strong customer
relationships in order to capture value from
customers in return.
1- 4
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Customer Needs, Wants, and Demands
Needs
Wants
Demands
1- 5
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Discussion Question
Describe a
college education
in terms of
wants, needs,
and demands?
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Market Offerings
Customer needs and wants are fulfilled
Through market offering:
• Products
• Services
•Marketing Myopia
1-7
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Examples of Marketing Myopia
Xerox
Company
We make
copying
Definition
equipment
Missouri-Pacific We run a railroad
Railroad
Carrier
We help
improve office
Suggestion
productivity
We are a people-andgoods mover
We make air conditioners We provide climate co
and furnaces
in the home
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Examples of Marketing Myopia
Xerox
Company
We make
copying
Definition
equipment
Suggestion
Missouri-Pacific We run a railroad
Railroad
Carrier
We make air conditioners
and furnaces
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Two Questions for Marketers
What
markets
will we
serve?
How can
we serve
these
customers
best?
1- 10
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Discussion Question
Why is it
important to a
marketer to
decide which
customers they
will serve?
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Marketing Management
Orientations
•
•
•
•
•
Production concept
Product concept
Selling concept
Marketing concept
Societal marketing concept
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Marketing Management Orientations
Production
concept
Product
Concept
Selling
concept
Marketing
Concept
Societal
Marketing
Concept
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Summary of Marketing Orientations
Orientation
Focus is on…
Production
Production and distribution efficiency
Product
Most quality product
Sales
Product sales
Market
Consumers’ needs and wants
Societal
In addition to consumers’ needs and wants, also consider benefits to
the society
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Preparing an Integrated Marketing Plan and
Program
Price
Place
Promotion
Product
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Building Customer Relationships
• What is Customer Relationship Management
– Customer value
– Customer satisfaction
• Customer relationship levels and tools
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Discussion: NASCAR
• Basic about NASCAR
• Can you profile NASCAR fans?
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Who will be NASCAR fans?
• 75 Million in the U.S
– 4 of every 10 people in the U.S regularly watch or
attend NASCAR
– Young, Affluent, and Family oriented
– $700/per person a year on Nascar-related
collectibles
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Question
• As for the Marketing aspects of NASCAR, how
should they offer what consumers want?
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How the Marketing works:
• Develop strong customer relationship
– National tours (200,000 people attended the
recent Daytona 500, doubling the size of Super
Bowl)
– Tailgate parties, camp and cook out, making sports
a family affair
– TV coverage reaches 20 million viewers weekly
• 250 big name sponsors
– Wal-Mart, Home depot to U.S Army
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Kodak continued to focus on
producing traditional film-based
cameras long after competitors
introduced digital models. Kodak
suffered from:
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•
•
•
•
Marketing myopia
Poor partner relationship management
Outside-in perspective
Customer driven strategy
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
©2011 Pearson Education, Inc. publishing
as Prentice Hall
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Kodak continued to focus on manufacturing
traditional film-based cameras long after
competitors introduced digital models. Kodak
suffered from:
•
•
•
•
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Marketing myopia
Poor partner relationship management
Outside-in perspective
Customer driven strategy
Kodak ignored consumers’ desire for digitized photos that
could be printed at home or shared over the Internet.
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
©2011 Pearson Education, Inc. publishing
as Prentice Hall
1- 22
You favor an approach that emphasizes the quality and
new features of your product while your assistant
prefers to emphasize innovative promotion strategies.
Which two marketing concepts are being exhibited?
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•
•
•
•
Marketing and selling
Production and societal marketing
Product and marketing
Product and selling
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
©2011 Pearson Education, Inc. publishing
as Prentice Hall
1- 23
You favor an approach that emphasizes the quality and
new features of your product while your assistant
prefers to emphasize innovative promotion strategies.
Which two marketing concepts are being exhibited?
•
•
•
•
Marketing and selling
Production and societal marketing
Product and marketing
Product and selling
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The product concept emphasizes product quality,
performance, and innovative features. The selling
concept focuses on creating sales transactions.
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
©2011 Pearson Education, Inc. publishing
as Prentice Hall
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