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Introduction+to+marketing

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  • 1. Advanced Courses Lecture 2 By Eng. Yasser Fouad Abd El Aziz MBA, BSc, CEng. Sales & Marketing Director IBE Technologies Tel.: (+202) 3372267 – Mobiles: (+2012) 2462228 Fax: (+202) 3371987 E-mail: yasser_fouad@ibetech.com www.ibetech.com www.biomed-bahgat.com.eg©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 1 in Chapter 1
  • 2. Introduction to Marketing “The future isn’t ahead of us. It has already happened.”©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 2 in Chapter 1
  • 3. Objectives  Understand the new economy.  Learn the tasks of marketing.  Become familiar with the major concepts and tools of marketing.  Understand the orientations exhibited by companies.©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 3 in Chapter 1
  • 4. Objectives  Learn how companies and marketers are responding to new challenges.©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 4 in Chapter 1
  • 5. The New Economy  Consumer benefits from the digital revolution include: – Increased buying power. – Greater variety of goods and services. – Increased information. – Enhanced shopping convenience. – Greater opportunities to compare product information with others.©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 5 in Chapter 1
  • 6. The New Economy  Firm benefits from the digital revolution include: – New promotional medium. – Access to richer research data. – Enhanced employee and customer communication. – Ability to customize promotions.©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 6 in Chapter 1
  • 7. Marketing Tasks  Marketing practices may pass through three stages: – Entrepreneurial marketing – Formulated marketing – Intrepreneurial marketing©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 7 in Chapter 1
  • 8. What Can Be Marketed?  Goods  Places  Services  Properties  Experiences  Organizations  Events  Information  Persons  Ideas©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 8 in Chapter 1
  • 9. Marketing Defined  Kotler’s social definition: “Marketing is a societal process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others.”©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 9 in Chapter 1
  • 10. Marketing Defined  The AMA managerial definition: “Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.”©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 10 in Chapter 1
  • 11. Marketing =Demand Management  Negative demand  Full demand  No demand  Overfull Demand  Latent demand  Unwholesome  Declining demand demand  Irregular demand ©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 11 in Chapter 1
  • 12. 4 Types of Markets  Consumer Markets  Business Markets  Global Markets  Nonprofit and Governmental Markets©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 12 in Chapter 1
  • 13. Core Marketing Concepts  Target markets and  Exchange and market segmentation transactions  Marketplace, market-  Relationship and space, metamarkets networks  Marketers & prospects  Marketing channels  Needs, wants, demands  Supply chain  Product offering and  Competition brand  Marketing environment  Value and satisfaction  Marketing program©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 13 in Chapter 1
  • 14. Core Marketing Concepts  Target markets & segmentation – Differences in needs, behavior, demographics or psychographics are used to identify segments. – The segment served by the firm is called the target market. – The market offering is customized to the needs of the target market.©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 14 in Chapter 1
  • 15. Simple Marketing System©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 15 in Chapter 1
  • 16. Modern Marketing System©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 16 in Chapter 1
  • 17. Core Marketing Concepts  Shopping can take place in a: – Marketplace (physical entity, Lowe’s) – Marketspace (virtual entity, Amazon)  Metamarkets refer to complementary goods and services that are related in the minds of consumers.  Marketers seek responses from prospects.©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 17 in Chapter 1
  • 18. Core Marketing Concepts  Needs describe basic human requirements such as food, air, water, clothing, shelter, recreation, education, and entertainment.  Needs become wants when they are directed to specific objects that might satisfy the need. (Fast food)  Demands are wants for specific products backed by an ability to pay.©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 18 in Chapter 1
  • 19. Core Marketing Concepts  A Product is any offering that can satisfy a need or want, while a brand is a specific offering from a known source.  When offerings deliver value and satisfaction to the buyer, they are successful.  Value = Benefits/Costs©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 19 in Chapter 1
  • 20. Enhancing Value  Marketers can enhance the value of an offering to the customer by: – Raising benefits. – Reducing costs. – Raising benefits while lowering costs. – Raising benefits by more than the increase in costs. – Lowering benefits by less than the reduction in costs.©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 20 in Chapter 1
  • 21. Core Marketing Concepts  Exchange involves obtaining a desired product from someone by offering something in return.  Transaction involves at least two things of value, agreed-upon conditions, a time of agreement, and a place of agreement.©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 21 in Chapter 1
  • 22. Core Marketing Concepts  Relationship marketing aims to build long-term mutually satisfying relations with key parties, which ultimately results in marketing network between the company and its supporting stakeholders.©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 22 in Chapter 1
  • 23. Core Marketing ConceptsMarketing  Deliver messages to Channels and receive messages from target buyers. Communication channels  Includes traditional media, non-verbal Distribution communication, and channels store atmospherics. Service channels©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 23 in Chapter 1
  • 24. Core Marketing ConceptsMarketing  Display or deliver Channels the physical products or Communication services to the channels buyer / user. Distribution channels Service channels©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 24 in Chapter 1
  • 25. Core Marketing ConceptsMarketing  Carry out Channels transactions with potential buyers Communication by facilitating the channels transaction. Distribution channels Selling channels©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 25 in Chapter 1
  • 26. Core Marketing Concepts  A supply chain stretches from raw materials to components to final products that are carried to final buyers.  Each company captures only a certain percentage of the total value generated by the supply chain.©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 26 in Chapter 1
  • 27. Core Marketing Concepts  Four levels of competition can be distinguished by the level of product substitutability: – Brand competition – Industry competition – Form competition – Generic competition©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 27 in Chapter 1
  • 28. Core Marketing Concepts  The following forces in the broad environment have a major impact on the task environment: – Demographics – Economics – Natural environment – Technological environment – Political-legal environment – Social-cultural environment©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 28 in Chapter 1
  • 29. Core Marketing Concepts  The marketing program is developed to achieve the company’s objectives. Marketing mix decisions include:  The 4 Ps – Product: provides customer solution. – Price: represents the customer’s cost. – Place: customer convenience is key. – Promotion: communicates with customer.©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 29 in Chapter 1
  • 30. Core Marketing Concepts©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 30 in Chapter 1
  • 31. Core Marketing Concepts  4 Ps  4 Cs - Product - Customer solution - Price - Cost - Place - Convenience - Promotion - Communication©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 31 in Chapter 1
  • 32. Company Orientations  The orientation or philosophy of the firm typically guides marketing efforts. Several competing orientations exist: – Production concept – Product concept – Selling concept – Marketing concept – Societal marketing concept©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 32 in Chapter 1
  • 33. Company Orientations©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 33 in Chapter 1
  • 34. The Marketing Concept  Achieving organizational goals requires that company be more effective than competitors in creating, delivering, and communicating customer value.  Four pillars of the marketing concept: – Target market – Customer needs – Integrated marketing – Profitability©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 34 in Chapter 1
  • 35. The Marketing Concept©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 35 in Chapter 1
  • 36. Marketing Role©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 36 in Chapter 1
  • 37. Changes in the Marketplace  Globalization, technological advances, and deregulation have created many challenges: – Customers – Brand manufacturers – Store-based retailers  Both companies and marketers have been forced to respond and adjust.©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 37 in Chapter 1
  • 38. Company vs. Marketer Responses Company Marketer - Reengineering - Relationship marketing - Outsourcing - Customer lifetime value - E-commerce - Customer share - Benchmarking - Target marketing - Alliances - Individualization - Partner-suppliers - Customer database - Market-centered - Integrated communications - Global & Local - Channels as partners - Decentralized - Every employee a marketer - Model base decision making©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 38 in Chapter 1