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01 marketing concepts


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  • 04/04/11
  • 04/04/11 Drucker, Yogi Berra, A Chinese Proverb, William Davidow, David Packard
  • Transcript

    • 1.
      • CONCEPTS
      • &
    • 2. What is Marketing…??
      • Selling?
      • Advertising?
      • Promotions?
      • Making products available in stores?
      • Maintaining inventories?
      • All of the above, plus much more!
    • 3. Marketing = ?
      • Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, services to create exchanges that satisfy individual and organizational goals
      • American Marketing Association
    • 4. Marketing = ?
      • Marketing management is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.
    • 5. Simple Marketing System Goods/services Money Information Industry (a collection of sellers) Market (a collection of Buyers) Communication
    • 6. Marketing = ?
      • Marketing is the sum of all activities that take you to a sales outlet. After that sales takes over.
      • Marketing is all about creating a pull, sales is all about push.
      • Marketing is all about managing the four P’s –
        • product
        • price
        • place
        • promotion
    • 7. The 4 Ps & 4Cs Marketing Mix Customer Solution Customer Cost Communication Convenience Product Price Promotion Place
    • 8. Difference Between - Sales & Marketing ? Sales trying to get the customer to want what the company produces Marketing trying to get the company produce what the customer wants
    • 9. Scope – What do we market
      • Goods
      • Services
      • Events
      • Experiences
      • Personalities
      • Place
      • Organizations
      • Properties
      • Information
      • Ideas and concepts
    • 10. Core Concepts of Marketing
      • Based on :
      • Needs, Wants, Desires / demand
      • Products, Utility, Value & Satisfaction
      • Exchange, Transactions & Relationships
      • Markets, Marketing & Marketers.
    • 11. Core Concepts of Marketing Needs, wants demands Markets Marketing & Marketers Utility, Value & Satisfaction Xchange, Transaction Relationships Products
    • 12. In order to understand Marketing let us begin with the Marketing Triangle Customers Competition Company
    • 13. Who is a Customer ?? Anyone who is in the market looking at a product / service for attention, acquisition, use or consumption that satisfies a want or a need CUSTOMER IS . . . . .
    • 14. Customer –
      • CUSTOMER has needs, wants, demands and desires
      • Understanding these needs is starting point of the entire marketing
      • These needs, wants …… arise within a framework or an ecosystem
      • Understanding both the needs and the ecosystem is the starting point of a long term relationship
    • 15. How Do Consumers Choose Among Products & Services?
      • Value - the value or benefits the customers gain from using the product versus the cost of obtaining the product.
      • Satisfaction - Based on a comparison of performance and expectations.
        • Performance > Expectations => Satisfaction
        • Performance < Expectations => Dissatisfaction
    • 16. Customers - Problem Solution
      • As a priority , we must bring to our customers “ WHAT THEY NEED ”
      • We must be in a position to UNDERSTAND their problems
      • Or in a new situation to give them a chance to AVOID the problems
    • 17. Customer looks for Value
      • Value = Benefit / Cost
      • Benefit = Functional Benefit + Emotional Benefit
      • Cost = Monetary Cost + Time Cost + Energy Cost + Psychic Cost
    • 18. The Marketing Plan
      • A written document that acts as a guidebook of marketing activities for the marketing manager
      • Business Mission Statement
      • Objectives
      • Situation Analysis (SWOT)
      • Marketing Strategy
        • Target Market Strategy
        • Marketing Mix
          • Positioning
          • Product
          • Promotion
          • Price
          • Place – Distribution
          • People
          • Process
      • Implementation, Evaluation and Control
    • 20. The Marketing Process Target Market Strategy Marketing Strategy Product Promotion Place/Distribution Price Marketing Mix Business Mission Statement Objectives Situation or SWOT Analysis Implementation Evaluation, Control
    • 21. Factors Influencing Company’s Marketing Strategy
    • 22. External Marketing Environment Physical / Natural Demographics Social Change Economic Conditions Political & Legal Factors Technology Competition Environmental Scanning Target Market Product Distribution Promotion Price External Environment is not controllable Ever-Changing Marketplace
    • 23. The macro-environment is the assessment of the external forces that act upon the firm and its customers, that create threats & opportunities
    • 24. P r o d u c t
    • 25. Anything that is offered to the market for attention, acquisition, use or consumption that satisfies a want or a need Product is . . . . .
    • 26. Types of Products Consumer Products Industrial Products PRODUCTS Services
    • 27. Product Items, Lines, and Mixes Product Item Product Line Product Mix A specific version of a product that can be designated as a distinct offering among an organization’s products. A group of closely-related product items. All products that an organization sells.
    • 28. Product Mix
      • Width – how many product lines a company has
      • Length – how many products are there in a product line
      • Depth – how many variants of each product exist within a product line
      • Consistency – how closely related the product lines are in end use
    • 29. The Marketing Mix
      • The conventional view of the marketing mix consisted of four components (4 Ps): Product, Price, Place/ distribution and Promotion .
      • Generally acknowledged that this is too narrow today; now includes , P rocesses , P roductivity [technology ] P eople [employees], P hysical evidence
      • Marketers today are focused on virtually all aspects of the firm’s operations that have the potential to affect the relationship with customers.
    • 30. The “8Ps” of Integrated Service Management vs. the Traditional “4Ps”
      • Product elements
      • Place, cyberspace, and time
      • Process
      • Productivity and quality
      • People
      • Promotion and education
      • Physical evidence
      • Price and other user outlays
    • 31. The Give and Get of Marketing
    • 32. Great Words on Marketing
      • “ The purpose of a company is ‘to create a customer…The only profit center is the customer.’”
      • “ A business has two—and only two—basic functions: marketing and innovation. Marketing and innovation produce results: all the rest are costs.”
      • “ The aim of marketing is to make selling unnecessary.”
      • “ While great devices are invented in the Laboratory, great products are invented in the Marketing department.”
      • “ Marketing is too important to be left to the marketing department.”
    • 33. Drivers of Customer Satisfaction
      • Many aspects of the firm’s value proposition contribute to customer satisfaction:
        • The core product or service offered
        • Support services and systems
        • The technical performance of the firm
        • Interaction with the firm and it employees
        • The emotional connection with customers
      • Ability to add value and to differentiate as a firm focuses more on the top levels
    • 34. Marketers and Markets
      • Marketers are focused on stimulating exchanges with customers who make up markets – B2C or B2B.
      • The market is comprised of people who play a series of roles: decision makers, consumers, purchasers, and influencers.
      • It is absolutely essential that marketers have a detailed understanding of consumers, their needs and wants .
      • Much happens before and after the sale to affect customer satisfaction
    • 35. Stages of Customer Interaction
    • 36. What Changed in Marketing…
      • Organize by product units
      • Focus on profitable transactions
      • Look primarily at financial scorecard
      • Focus on shareholders
      • Marketing does the marketing
      • Build brands through advertising
      • Focus on customer acquisition
      • No customer satisfaction measurement
      • Over-promise, under-deliver
      • Organize by customer segments
      • Focus on customer lifetime value
      • Look also at marketing scorecard
      • Focus on stakeholders
      • Everyone does the marketing
      • Build brands through performance
      • Focus on customer retention
      • Measure customer satisfaction and retention rate
      • Under-promise, over-deliver
      Old Economy New Economy
    • 37.
      • THANK YOU….