Go through each term, ask class to see if they know what they mean. Does this make things clearer for you at all? Break into groups and see if you can’t bring this to life with an example. Share it.
Ask which is most important function then? Notice how central marketing is to everything…without all this above, would circus be same success…
Ask how each piece of the pie would affect a marketer
Marketing is just like a relationship. Refer to example in text here…ASK CLASS TO COME UP WITH AN EXAMPLES OF THEIR OWN IN GROUPS
Break into groups, decide whether to release this product, what would you change. Leave as is, give it a go, etc. Tell class what decided. Avert – name failed – avert your gaze… Virucidal confused people – contained vitamin fused people about what it didi. Suicdial, homicidal, connotations bad, don’t put people in a buying mood. Ultimately, people too scared to put noses into this tissue. Want an experience, and this was too risky.
But an organization can not satisfy all the customer needs, so it needs to concentrate its efforts..
Environmental factors are: SOCIAL FORCES(2) TECHNOLOGICAL FORCES (3) ECONOMIC FORCES (4) COMPETITIVE FORCES (5) REGULATORY FORCE But this approach has its limitaions for those organizations who are looking for breakthrough innovations – you willhave to create our own market. “ If I asked the customer what they really wanted, they’d have a said a faster horse.” IN THE END THE VP OF MARKETING IS GOING AHEAD WITH AVERT – LETS COME UP WITH A FEW 4P MIXES
This is pretty much analogous to most situations in life – younger cousin, just sitting on the couch in basement, no girlfriend. No idea how to go about it. So we told him. Lets go back to avert – think of 4 Ps for AVERT if staff are going ahead with it anyhow
sales era – production getting much better, create more things than people buy. Competition grows. Marketing concept era – competition fierce with sales operations growing. Lets find out what customer really wants. Customer centred. Marketing research takes hold. – marketing integrated into entire business cycle of business. Not just end. Market oriented era- getting more sophisticated here. Continuously collecting information – sharing it throughout organization – using this information to create value, ensure satisfaction, and develop customer relationships – CRM – talk about this here. Ask for examples. Life time value of a customer – customer survey, customer service returns etc, catologue, special offers to certain buyers, etc ask for examples… Customer experience management era – everyone rushes out and invests in huge crm technology – and realize that good customer relationships only develop when have good customer experiences…now have CEM strategies. Every touch point with an organization, has to be managed intensively. It is the experience that counts, more than product or service. Employee, website, call centre, Recent poll – 60 percent of executives believe that custoemr relationships are central to success. But only 25% of people believe that organizations actually provide excellent custoerm experiences. Ask class about which organizations are doing this, and doing it well.
1 WELCOME TO BUS132 MARKETING MANAGEMENT
LETS DEFINE MARKETING <ul><li>WHAT DO MARKETERS DO? </li></ul>
<ul><li>Marketing: Defined </li></ul><ul><ul><li>An organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders. </li></ul></ul>TEXT BOOK DEFINITIONS
If the circus is coming to town and you paint a sign saying "Circus Coming to the Fairground Saturday," that's advertising. If you put the sign on the back of an elephant and walk it into town, that's promotion. If the elephant walks through the mayor's flower bed, that's publicity. And if you get the mayor to laugh about it, that's public relations. If the town's citizens go to the circus, you show them the many entertainment booths, explain how much fun they'll have spending money at the booths, answer their questions and ultimately, they spend a lot at the circus, that's sales.
An organization’s marketing department relates to many people, groups, and forces
Requirements for Marketing to Occur <ul><ul><li>Two or More Parties with Unsatisfied Needs </li></ul></ul><ul><ul><li>Desire and Ability to Satisfy These Needs </li></ul></ul><ul><ul><li>A Way for the Parties to Communicate </li></ul></ul><ul><ul><li>Something to Exchange </li></ul></ul>
<ul><li>Discovering Consumer Needs </li></ul><ul><ul><li>Consumer Needs and Consumer Wants </li></ul></ul>DISCOVERING AND SATISFING CONSUMER NEEDS
FIGURE 1-3 Marketing’s second task: satisfying consumer needs
<ul><li>Evolution of North American Businesses </li></ul><ul><ul><li>Production Era </li></ul></ul><ul><ul><li>Sales Era </li></ul></ul><ul><ul><li>Marketing Concept Era </li></ul></ul><ul><ul><li>Market Orientation Era </li></ul></ul><ul><ul><ul><li>Customer Value </li></ul></ul></ul><ul><ul><ul><li>Customer Satisfaction </li></ul></ul></ul><ul><ul><ul><li>Customer relationship management (CRM) </li></ul></ul></ul><ul><ul><ul><li>Customer lifetime value (CLV) </li></ul></ul></ul><ul><ul><ul><li>eCRM </li></ul></ul></ul><ul><ul><ul><li>Interactive marketing </li></ul></ul></ul>HOW MARKETING BECAME SO IMPORTANT
FIGURE 1-5 Five different orientations in the history of North American business
What type of value do these firms offer their customers?
NEXT CLASS <ul><li>UNDERSTANDING THE MARKETING CASE APPROACH </li></ul><ul><ul><li>LITTLE LUCY’S LEMONADE & HISTORY ADVENTURE TOURS </li></ul></ul><ul><li>UNDERSTANDING THE MARKETING PLAN </li></ul><ul><li>CHAPTER TWO – DEVELOPING SUCCESSFUL MARKETING STRATEGIES </li></ul>