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BUS110 Chapter 13 - Marketing
 

BUS110 Chapter 13 - Marketing

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  • See Learning Goal 1: Define marketing and apply the marketing concept to both for-profit and non-profit organizations. Simply put, marketing is activities buyers and sellers perform to facilitate mutually beneficial exchanges.
  • See Learning Goal 1: Define marketing and apply the marketing concept to both for-profit and non-profit organizations.
  • See Learning Goal 1: Define marketing and explain how the marketing concept applies in both for-profit and non-profit organizations See text pages: 350-351
  • See Learning Goal 1: Define marketing and apply the marketing concept to both for-profit and non-profit organizations.
  • See Learning Goal 1: Define marketing and apply the marketing concept to both for-profit and non-profit organizations.
  • See Learning Goal 1: Define marketing and apply the marketing concept to both for-profit and non-profit organizations.
  • See Learning Goal 1: Define marketing and apply the marketing concept to both for-profit and non-profit organizations.
  • See Learning Goal 1: Define marketing and apply the marketing concept to both for-profit and non-profit organizations. Nonprofit Marketing This slide identifies marketing tactics nonprofits can use to market their organizations. Nonprofits must effectively market their causes in order to reach their target audience. To begin a discussion ask students: How is the marketing of a nonprofit different from the marketing of a for-profit product? ( Students should be able to identify that there is little difference between the two.)
  • See Learning Goal 1: Define marketing and apply the marketing concept to both for-profit and non-profit organizations. Marketing Strategies in Non-Profit Organizations This slide identifies many ideas for developing a successful marketing strategy for non-profit organizations. Regardless of the type or size of the organization, nonprofits will need marketing strategies and techniques to maximize their effectiveness. Marketing tactics nonprofits may consider as a part of an overall marketing program include the following: newspaper inserts, cross promotions, packaging promotions, and corporate newsletters. Public relations will play an important role with recognition and support for building strong community goodwill. Based on the following statistics, nonprofit organizations are very successful: During the past 10 years the number of reporting “public charities” grew by 6.3 percent annually. The nonprofit sector includes more than 1 million organizations that spend nearly $500 billion each year – more than the GDP of Brazil, Russia or Australia. Approximately 6 percent of all organizations in the United States are nonprofits, and one in every 15 people works for a nonprofit.
  • Also available on a Transparency Acetate See Learning Goal 2: List and describe the four P’s of marketing. See text page: 352 Elements of the Marketing Mix The critical elements in each of the four Ps of the marketing mix are identified here. This slide is very helpful in illustrating the depth and breadth of the marketing mix. Discuss with the students the importance of creating a difference with your product(s) using value features that are unique, and will distinguish your offerings from your competitors. This slide illustrates the responsibility of the marketing manager to build the four Ps into an integrated marketing program that effectively communicates to the public. Discuss each element separately with the class; ask the students to identify ways they can create value with each of the four Ps?
  • See Learning Goal 2: Describe the four P’s of marketing.
  • See Learning Goal 2: Describe the four P’s of marketing.
  • See Learning Goal 2: Describe the four P’s of marketing.
  • See Learning Goal 3: Summarize the marketing research process. To understand customer wants and needs, it is critical to conduct market research. Good market research will identify products consumers have used, want to use in the future and market trends.
  • See Learning Goal 3: Summarize the marketing research process.
  • See Learning Goal 3: Summarize the marketing research process.
  • See Learning Goal 3: Summarize the marketing research process. Secondary research is cheaper and often easier to gather than primary research, but may be outdated.
  • See Learning Goal 3: Summarize the marketing research process. Primary data is timely but can be expensive and time consuming to gather.
  • See Learning Goal 3: Summarize the marketing research process.
  • See Learning Goal 3: Summarize the marketing research process.
  • See Learning Goal 3: Summarize the marketing research process. Key Benefits of Marketing Research This slide identifies the key benefits of marketing research. As discussed early in the chapter, marketing is about understanding customers wants and needs. To accomplish this goal marketers must conduct marketing research. Ask students: How has the Internet changed the way market research is being conducted? ( The Internet has made gathering both primary and secondary information easier and quicker. Also, information can now be gathered via blogs and social networks.
  • See Learning Goal 3: Summarize the marketing research process. Ways to Find Out What Consumers Think The goal of market research is to better understand what consumers are thinking. This slide addresses some of the ways that organizations can discover consumer wants and needs.
  • See Learning Goal 4: Show how marketers use environmental scanning to learn about the changing marketing environment. Environmental scanning is the process of identifying factors that affect marketing success. The environment of marketing is changing faster than at any time in history. Companies that don’t keep up, fail to survive. Today’s marketing environment is influenced by the global marketplace and the explosion of the information age. To be fully prepared, a company must recognize and understand: cultural influences; governmental and political influences; demographic and lifestyle trends; local, national, and world economic trends; the strengths of multi-national competitors; and the influence of technology on physical distribution.
  • See Learning Goal 4: Show how marketers use environmental scanning to learn about the changing marketing environment. To effectively understand the marketing environment, it is critical companies continually scan the environment.
  • See Learning Goal 4: Show how marketers use environmental scanning to learn about the changing marketing environment.
  • See Learning Goal 4: Show how marketers use environmental scanning to learn about the changing marketing environment. The ABC’s of Marketing This slide identifies keys to marketing success. One point on this slide mentions the empowerment of employees. Ask students: Why is empowering employees a key to successful marketing? ( Answers will vary but should focus on how empowerment should lead to greater employee motivation, creating a more customer focused environment.) A key to marketing is understand the organization’s strengths and weaknesses and your ultimate customer. 4. Once you have identified your strengths and weaknesses, what you really sell and to whom, and have reviewed your communication to the target market, you need to ensure that the message resonates with them positively. You can do that by engaging in savvy public relations (newsletters, press releases, etc.).
  • See Learning Goal 4: Show how marketers use environmental scanning to learn about the changing marketing environment. The buyer’s intended end use of the product determines whether a product is consumer or B2B.
  • See Learning Goal 5: Explain how marketers apply the tools of market segmentation, relationship marketing, and the study of consumer behavior.
  • See Learning Goal 5: Explain how marketers apply the tools of market segmentation, relationship marketing, and the study of consumer behavior.
  • See Learning Goal 5: Explain how marketers apply the tools of market segmentation, relationship marketing, and the study of consumer behavior.
  • See Learning Goal 5: Explain how marketers apply the tools of market segmentation, relationship marketing, and the study of consumer behavior.
  • See Learning Goal 5: Explain how marketers apply the tools of market segmentation, relationship marketing, and the study of consumer behavior. Mass marketing uses little market segmentation. The goal of relationship marketing is to keep customers happy by offering products that meet exact expectations
  • See Learning Goal 5: Explain how marketers apply the tools of market segmentation, relationship marketing, and the study of consumer behavior. Keys to Successful Relationship Marketing Relationship marketing is all about moving away mass production and toward custom-made goods and services. This slide identifies the keys to successful relationship marketing. The goal of relationship marketing is to retain individual customers over time by offering them new products that meet their expectations. Nike uses relationship marketing creating custom made-shoes via NikeiD. Explore NikeiD in class at www.nike.com to see relationship marketing in action.
  • See Learning Goal 5: Explain how marketers apply the tools of market segmentation, relationship marketing, and the study of consumer behavior.
  • See Learning Goal 5: Explain how marketers apply the tools of market segmentation, relationship marketing, and the study of consumer behavior.
  • See Learning Goal 6: Compare the business-to-business market and the consumer market. Learning - Creates changes in consumer behavior through experiences and information. Reference groups - Reference points in forming beliefs, attitudes, values or behaviors. Culture - The set of values, attitudes and ways of doing things passed from generations. Subculture - Values, attitudes and ways of doing things from belonging to a certain group. Cognitive dissonance - Psychological conflict that may occur after a purchase.
  • See Learning Goal 6: Compare the business-to-business market and the consumer market.
  • See Learning Goal 6: Compare the business-to-business market and the consumer market.
  • See Learning Goal 1: Define marketing and apply the marketing concept to both for-profit and non-profit organizations. 84% of women have issues finding clothes that fit and 40% return items due to sizing issues.
  • See Learning Goal 1: Define marketing and apply the marketing concept to both for-profit and non-profit organizations.
  • Define the terms consumer market and business-to-business market. The consumer market consists of all the individuals or households that want goods and services for personal consumption or use and have the resources to buy them. Business-to-business markets consist of all the individual and organizations that want goods and services to use in producing other goods and services or to sell, rent, or supply goods to others. Name and describe five ways to segment the consumer market. Geographic segmentation is the process of dividing the market by cities, counties, states, or regions. Demographic segmentation involves dividing the market by age, income, education level, religion, race, and occupation. Psychographic segmentation is the process of dividing the market by values, attitudes, and interests. Benefit segmentation involves determining which benefits to promote. Volume or usage segmentation is the process of determining how your customers purchase and use the product. 3. What’s niche marketing and how does it differ from one-to-one marketing? Niche marketing is identifying small but profitable market segments and designing or finding products for them. One-to-one marketing means developing a unique mix of goods and service for each individual customer. What are four key factors that make B2B markets different from consumer markets? (1) Customers in B2B market are relatively few as compared to households in the consumer market, (2) B2B customers tend to be geographically centered, (3) B2B sales tend to be direct, and (4) In the B2B marketplace sales are based on selling.
  • What does it mean to “help the buyer buy?” In the past marketing focused entirely on helping the seller sell the product. Today marketing has changed from selling to instead helping the buyer buy. It is critical today that organizations do everything to help buyers make decisions. What are the three parts of the marketing concept? The three parts of the marketing concept are: (1) customer orientation , (2) service orientation, and (3) a profit orientation. What are the Four P’s of the Marketing Mix? The Four P’s of the marketing mix are: (1) Product, (2) Price, (3) Place, and (4) Promotion.
  • What are the four steps in the marketing research process? The steps in the marketing research process are as follows: (1) Define the problem and determine the present situation, (2) Collect the research data, (3) Analyze the research data, and (4) Choose the best solution and then implement it. What is environmental scanning? Environmental scanning is the process of identifying factors that can affect marketing success. What factors are included in environmental scanning? The factors in environmental scanning include: global, technological, sociocultural, competitive, and economic influences.

BUS110 Chapter 13 - Marketing BUS110 Chapter 13 - Marketing Presentation Transcript

  • * * Chapter Thirteen Marketing: Helping Buyers Buy Copyright © 2010 by the McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin
  • WHAT’S MARKETING? * * What is Marketing?
    • Marketing -- The activity, set of institutions and processes for creating, communicating, delivering, and exchanging offerings with value for customers, clients, partners, and society at large.
    LG1 13-
  • FOCUS of CONTEMPORARY MARKETING * * What is Marketing?
      • Marketing today involves helping the buyer buy through:
        • Websites that help buyers find the best price, identify product features, and question sellers.
    LG1
        • Blogs and social networking sites that cultivate consumer relationships.
    13-
  • Evolution of Marketing Source: Marketing, Grewal & Levy, 2009 * The Evolution of Marketing LG1
  • The PRODUCTION and SELLING ERAS * * The Evolution of Marketing
      • The general philosophy was “ Produce what you can because the market is limitless.”
      • After mass production, the focus turned from production to persuasion.
    LG1 13-
  • The MARKETING CONCEPT ERA * * The Evolution of Marketing
      • After WWII, a consumer spending boom developed.
      • Businesses knew they needed to be responsive to consumers if they wanted their business.
    LG1 13-
  • APPLYING the MARKETING CONCEPT * * The Evolution of Marketing
      • The Marketing Concept includes three parts:
        • Customer Orientation -- Finding out what customers want and then providing it.
        • Service Orientation -- Making sure everyone in an organization is committed to customer satisfaction.
        • Profit Orientation -- Focusing on the goods and services that will earn the most profit.
    LG1 13-
  • The CUSTOMER RELATIONSHIP ERA * * The Evolution of Marketing
      • Customer Relationship Management (CRM) -- Learning as much as you can about customers and doing what you can to satisfy or exceed their expectations.
      • Organizations seek to enhance customer satisfaction building long-term relationships.
      • Today firms like Priceline and Travelocity use CRM that allow customers to build a relationship with the suppliers.
    LG1 13-
  • NONPROFIT MARKETING * *
    • Nonprofit marketing tactics include:
    Nonprofit Organizations and Marketing LG1
      • Fundraising
      • Public Relations
      • Special Campaigns
      • Ecological practices
      • Changing public opinions and attitudes
      • Increasing organizational membership
    13-
  • MARKETING STRATEGIES for NONPROFITS * *
    • Nonprofit marketing strategies include:
      • Determine the firm’s goals and objectives.
      • Focus on long-term marketing.
      • Find a competent board of directors.
      • Exercise strategic planning.
      • Train and develop long-term volunteers.
      • Carefully segment the target market.
    Nonprofit Organizations and Marketing LG1 13-
  • Elements in the Marketing Mix 13- Product Marketing Program Delivers Value Place Promotion Computer 'R Us Buy at Computers ‘R Us Price
  • DEVELOPING a PRODUCT * * Designing a Product to Meet Consumer Needs
      • Product -- A good, service, or idea that satisfies a consumer’s want or need.
      • Test Marketing -- Testing product concepts among potential product users.
      • Brand Name -- A word, letter, or a group of words or letters that differentiates one seller’s goods from a competitor’s.
    LG2 13-
  • PRICING and PLACING a PRODUCT * * Setting an Appropriate Price
      • Pricing products depends on many factors:
        • Competitors’ prices
        • Production costs
        • Distribution
        • High or low price strategies
      • Middlemen are important in place strategies because getting a product to consumers is critical.
    LG2 13-
  • PROMOTING the PRODUCT * * Developing an Effective Promotional Strategy
      • Promotion -- All the techniques sellers use to inform people about their products and motivate them to purchase those products.
      • Promotion includes:
        • Advertising
        • Personal selling
        • Public relations
        • Viral marketing
        • Sales promotions
    LG2 13-
  • SEARCHING for INFORMATION * * Providing Marketers with Information
      • Marketing Research -- Analyzing markets to determine challenges and opportunities, and finding the information needed to make good decisions.
      • Research is used to identify products consumers have used in the past and what they want in the future.
      • Research uncovers market trends and attitudes held by company insiders and stakeholders.
    LG3 13-
  • FOUR STEPS in the MARKETING RESEARCH PROCESS * * The Marketing Research Process
      • Defining the problem or opportunity and determining the present situation.
      • Collecting research data.
      • Analyzing the data.
      • Choosing the best solution and implementing it.
    LG3 13-
  • DEFINING the PROBLEM or OPPORTUNITY * * Defining the Question and Determining the Present Situation
      • What’s the present situation?
      • What are the alternatives?
      • What information is needed?
      • How should the information be gathered?
    LG3 13-
  • COLLECTING SECONDARY RESEARCH DATA * * Collecting Data
      • Secondary Data -- Existing data that has previously been collected by sources like the government.
    LG3
      • Secondary data incurs no expense and is usually easily accessible.
      • Secondary data doesn’t always provide all the needed information for marketers.
    13-
  • COLLECTING PRIMARY RESEARCH DATA * * Collecting Data
      • Primary Data -- In-depth information gathered by marketers from their own research .
      • Telephone, online and mail surveys, personal interviews, and focus groups are ways to collect primary data.
    LG3 13-
  • FOCUS GROUPS * * Collecting Data
      • Focus Group -- A group of people who meet under the direction of a discussion leader to communicate opinions .
    LG3 13-
  • ANALYZING the DATA and IMPLEMENTING the DECISION * * Analyzing the Research Data
      • Marketers must turn data into useful information.
      • Must use their analysis to plan strategies and make recommendations.
    LG3
      • Finally, marketers must evaluate their actions and determine if further research is needed.
    13-
  • KEY BENEFITS of MARKETING RESEARCH * *
    • Analyze customer needs and satisfaction.
    • Analyze current markets and opportunities.
    • Analyze the effectiveness of marketing strategies.
    • Analyze marketing process and tactics currently used.
    • Analyze the reasons for goal achievement or failure.
    LG3 Analyzing the Research Data 13-
  • WAYS to FIND OUT WHAT CONSUMERS THINK * *
    • Conduct informal consumer surveys.
    LG3 Analyzing the Research Data
    • Host a customer focus group.
    • Listen to competitor’s customers.
    • Survey your sales force.
    • Become a “phantom” customer.
    13-
  • SCANNING the MARKETING ENVIRONMENT * * The Marketing Environment
      • Environmental Scanning -- The process of identifying factors that affect marketing success.
      • Factors involved in the environmental scan include:
        • Global factors
        • Technological factors
        • Sociocultural factors
        • Competitive factors
        • Economic factors
    LG4 13-
  • The MARKETING ENVIRONMENT * * The Marketing Environment LG4 13-
  • SOCIAL MARKETING GOES GLOBAL (Reaching Beyond Our Borders) * *
      • Debra Wexler and Brian Gavin founded Whiteflash , an online diamond dealer.
      • About 10,000 worldwide users visit their site each month.
      • Wexler started a social marketing campaign and is planning an interactive website to help customers buy.
    13-
  • The ABC’s of MARKETING * *
    • A lways be customer-focused.
    • B enchmark against the best firms.
    • C ontinuously improve performance.
    • D evelop the best value package.
    • E mpower your employees.
    • F ocus on relationship building.
    • G oal achievement is the reward.
    LG4 The Marketing Environment 13-
  • The CONSUMER and B2B MARKET * * Two Different Markets: Consumer and B2B
      • Consumer Market -- All the individuals or households that want goods and services for personal use and have the resources to buy them.
    LG4
      • Business-to-Business (B2B) -- Individuals and organizations that buy goods and services to use in production or to sell, rent, or supply to others.
    13-
  • MARKETING to CONSUMERS * * The Consumer Market
      • The size and diversity of the consumer market forces marketers to decide which groups they want to serve.
      • Market Segmentation -- Divides the total market into groups with similar characteristics.
      • Target Marketing -- Selecting which segments an organization can serve profitably.
    LG5 13-
  • SEGMENTING the CONSUMER MARKET * * Segmenting the Consumer Market
      • Geographic Segmentation -- Dividing the market by cities, counties, states, or regions.
      • Demographic Segmentation -- Dividing the market by age, income, education, and other demographic variables.
      • Psychographic Segmentation -- Dividing the market by group values, interests, and opinions.
      • (continued)
    LG5 13-
  • SEGMENTING the CONSUMER MARKET (continued) * * Segmenting the Consumer Market
      • Benefit Segmentation -- Dividing the market according to product benefits the customer prefers.
      • Volume (Usage) Segmentation -- Dividing the market by the volume of product use.
    LG5 13-
  • MARKETING to SMALL SEGMENTS * * Reaching Smaller Market Segments
      • Niche Marketing -- Identifies small but profitable market segments and designs or finds products for them.
    LG5
      • One-to-One Marketing-- Developing a unique mix of goods and services for each individual consumer.
    13-
  • MASS MARKETING vs. RELATIONSHIP MARKETING * * Moving Toward Relationship Marketing
      • Mass Marketing -- Developing products and promotions to please large groups of people.
      • Relationship Marketing-- Rejects the idea of mass production and focuses toward custom-made goods and services for customers .
    LG5 13-
  • KEYS to SUCCESSFUL RELATIONSHIP MARKETING * *
    • Effective relationship marketing is built on:
      • Open communication
      • Consistently reliable service
      • Staying in contact with customers
      • Trust, honesty, and ethical behavior
      • Showing that you truly care
    LG5 Moving Toward Relationship Marketing 13-
  • STEPS in the CONSUMER DECISION-MAKING PROCESS * * The Consumer Decision-Making Process
      • Problem recognition
      • Search for information
      • Evaluating alternatives
      • Purchase decision
      • Postpurchase evaluation
    LG5 13-
  • The CONSUMER DECSION MAKING PROCESS AND OUTSIDE INFLUENCES * * LG5 The Consumer Decision-Making Process 13-
  • KEY FACTORS in CONSUMER DECISION-MAKING * * The Business-to-Business Market
      • Learning
      • Reference Groups
      • Culture
      • Subcultures
      • Cognitive Dissonance
    LG6 13-
  • BUSINESS-to-BUSINESS MARKET (B2B) * * The Business-to-Business Market
      • B2B marketers include:
        • Manufacturers
        • Wholesalers and retailers
        • Hospitals, schools and charities
        • Government
      • Products are often sold and resold several times before reaching final consumers.
    LG6 13-
  • B2B MARKET DIFFERENCES * * The Business-to-Business Market
      • There are relatively few customers.
      • Customers tend to be large buyers.
      • Markets are geographically concentrated.
      • Buyers are more rational than emotional.
    LG6
      • Sales are direct.
      • Promotions focus heavily on personal selling.
    13-
  • Review Only
  • CRICKET LEE Fitlogic * * Profile
    • Developed a system of clothes sizing called Fitlogic .
    • Lee’s system standardizes sizes and provides flexibility.
    • Though she has an excellent idea, Lee must market her product.
    13-
  • FIND A NEED AND FILL IT Spotlight on Small Business * *
      • Lance Fried was an electrical engineer who went into business after he built a waterproof MP3 player.
      • Focused his marketing plan on small surf shops instead of large stores.
      • Now, Fried attends trade shows and runs a website to help sell more products.
    13-
  • PROGRESS ASSESSMENT * * Progress Assessment
      • Define the terms consumer market and business-to-business market.
      • Name and describe five ways to segment the consumer market.
      • What’s niche marketing and how does it differ from one-to-one marketing?
      • What are four key factors that make B2B markets different from consumer markets?
    13-
  • PROGRESS ASSESSMENT * * Progress Assessment
      • What does it mean to “help the buyer buy?”
      • What are the three parts of the marketing concept?
      • What are the Four P’s of the Marketing Mix?
    13-
  • PROGRESS ASSESSMENT * * Progress Assessment
      • What are the four steps in the marketing research process?
      • What’s environmental scanning?
      • What factors are included in environmental scanning?
    13-