Your SlideShare is downloading. ×
0
Contemporary Advertising 11e chapter 1
Contemporary Advertising 11e chapter 1
Contemporary Advertising 11e chapter 1
Contemporary Advertising 11e chapter 1
Contemporary Advertising 11e chapter 1
Contemporary Advertising 11e chapter 1
Contemporary Advertising 11e chapter 1
Contemporary Advertising 11e chapter 1
Contemporary Advertising 11e chapter 1
Contemporary Advertising 11e chapter 1
Contemporary Advertising 11e chapter 1
Contemporary Advertising 11e chapter 1
Contemporary Advertising 11e chapter 1
Contemporary Advertising 11e chapter 1
Contemporary Advertising 11e chapter 1
Contemporary Advertising 11e chapter 1
Contemporary Advertising 11e chapter 1
Contemporary Advertising 11e chapter 1
Contemporary Advertising 11e chapter 1
Contemporary Advertising 11e chapter 1
Contemporary Advertising 11e chapter 1
Contemporary Advertising 11e chapter 1
Contemporary Advertising 11e chapter 1
Contemporary Advertising 11e chapter 1
Contemporary Advertising 11e chapter 1
Contemporary Advertising 11e chapter 1
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×
Saving this for later? Get the SlideShare app to save on your phone or tablet. Read anywhere, anytime – even offline.
Text the download link to your phone
Standard text messaging rates apply

Contemporary Advertising 11e chapter 1

525

Published on

0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
525
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
32
Comments
0
Likes
0
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1. Chapter 1: Customer-Driven Strategic Marketing Pride/Ferrell Foundations of Marketing Fourth Edition Prepared by Milton Pressley University of New Orleans© 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
  • 2. Objectives 1. Define marketing 2. Understand several important marketing terms including target market, marketing mix, marketing exchanges, and marketing environment 3. Be aware of the marketing concept and marketing orientation 4. Understand the importance of building customer relationships 5. Explain the major marketing functions that are a part of the marketing management process 6. Understand the role of marketing in our society© 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
  • 3. Marketing Defined • Marketing is the process of creating, distributing, promoting, and pricing goods, services, and ideas, to facilitate satisfying exchange relationships with customers and develop and maintain favorable relationships with stakeholders in a dynamic environment.© 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
  • 4. Fig. 1.1 Components of Strategic Marketing© 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
  • 5. Who is the Focus of Marketing? • Customers The purchasers of organizations’ products; the focal point of all marketing activities. – The Target Market • Old Navy focuses on its target market to meet their needs • Who is their target market?© 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
  • 6. Target MarketTarget Market-is a specific group of customers on whom an organization focuses its marketing efforts. Appealing to health- conscious customers© 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
  • 7. The Marketing Mix Variables Marketers combine and balance four elements when determining how to satisfy customers’ needs for a product: • Product • Price • Distribution • Promotion© 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
  • 8. Product Variable A product can be a: – Good – Service – Idea Product Petzl’s ad focuses on the quality, comfort, and reliability of its climbing helmet© 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
  • 9. Price Variable • Relates to decisions and actions associated with establishing pricing objectives and policies • Relates to determining product prices • Determines the value of the exchange Price The Mini Cooper is promoted as being both affordable to buy and economical on fuel© 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
  • 10. Distribution Variable • Make products available in quantities desired • Minimize costs: – Inventory – Transportation – Storage • Select/motivate intermediaries • Establish/maintain inventory control • Develop/manage transportation and storage systems© 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
  • 11. Promotion Variable • Inform individuals or groups about the organization and its products/services – Advertising – Public relations – Personal selling – Promotions – Street teams – Viral marketing© 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
  • 12. Relationships with Customers • Exchange - the provision or transfer of goods, services, or ideas in return for something of value© 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
  • 13. Stakeholders Constituents who have a “stake,” or claim, in some aspect of a company’s products, operations, markets, industry, and outcomes. The Customer as a Stakeholder Yoplait donates to breast cancer research.© 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
  • 14. Marketing Environment • The six types of forces that surround the customer and affect the marketing mix: – Economic forces – Political forces – Legal and regulatory forces – Technological forces – Socio-cultural forces – Competitive forces • Unlike marketing-mix variables, an organization has no control over these forces© 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
  • 15. Discussion Question Pick a product that you want to market. Discuss how each of the forces in the marketing environment will effect your marketing mix.© 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
  • 16. The Marketing Concept • A managerial philosophy that an organization should try to provide products that satisfy customers’ needs through a coordinated set of activities that also allows the organization to achieve its goals. The Marketing Concept SSI understands the importance of a customer orientation by listening to customers and providing great service© 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
  • 17. The Evolution of the Marketing Concept The marketing concept has changed over time:© 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
  • 18. Marketing Orientation An organization-wide commitment to researching and responding to customer needs.© 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
  • 19. Implementing the Marketing Concept • First, establish an information system to discover customers’ real needs • Use the information to create satisfying products • Coordinate all activities© 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
  • 20. Managing Customer Relationships • Relationship Marketing – Establishing long term mutually satisfying, buyer/seller relationships.© 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
  • 21. Customer Relationship Marketing (CRM) • Using information about customers to create marketing strategies that develop and sustain desirable customer relationships.© 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
  • 22. Value-Driven Marketing • Value-a customer’s subjective assessment of benefits relative to costs in determining the worth of a product. Customer Customer Value = Benefits – Costs© 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
  • 23. Marketing Management • The process of planning, organizing, implementing, and controlling marketing activities to facilitate exchanges effectively and efficiently.© 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
  • 24. Why Marketing Plays An Important Role in Our Global Economy Consumes Large Proportion of Buyers’ Dollars Creates Is Used by Career Non-Profits Prospects Is Important Promotes Welfare to Business of Consumers Marketing and the and Society Economy Connects Fuels People the Global through Economy Technology Enhances Consumer Awareness© 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
  • 25. After Reviewing This Chapter You Should: 1. Be able to define marketing 2. Understand several important marketing terms including target market, marketing mix, marketing exchanges, and marketing environment 3. Be aware of the marketing concept and marketing orientation 4. Understand the importance of building customer relationships 5. Explain the major marketing functions that are a part of the marketing management process 6. Understand the role of marketing in our society© 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
  • 26. Key Concepts • Marketing • Marketing concept • Customers • Marketing orientation • Target market • Relationship marketing • Marketing mix • Customer relationship management (CRM) • Products • Value • Exchanges • Marketing management • Stakeholders • Marketing environment© 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

×