Managing The Marketing Mix
                    Lecture 1:
 Introduction to Marketing and the Marketing Mix


             ...
Module Objectives

Brief Introduction   • The concept of marketing and marketing’s role in the
of Myself
                 ...
Module Design

Brief Introduction   Module Delivery
of Myself            • 10 one-hour lectures + 1 two-hour compulsory se...
Contact Information of the Lecturers

Brief Introduction
of Myself
                     Module Convenor:
                 ...
Module Structure

Brief Introduction   1.    Introduction to Marketing and the Marketing Mix
of Myself
                   ...
Lecture 1 Objectives

Brief Introduction
of Myself
                     •   To define marketing
                     •   T...
What is Marketing?

Brief Introduction
of Myself
                     • A philosophy of business
                       –C...
Marketing Process is:

Brief Introduction
of Myself
                     • Defining markets;
                     • Quanti...
The Selling & Marketing Concept Contrast

Brief Introduction
of Myself

Module Outlooks

Lecture 1
Objectives

What is Mar...
The Marketing Process:
                     Making and Delivering Value
Brief Introduction
of Myself

Module Outlooks

Lec...
Key Characteristics of
                                 An Effective Marketing Mix
Brief Introduction   •The elements are ...
Criticism of The Marketing Mix

Brief Introduction   •   Represents the sellers view of
of Myself                marketing...
Summary

Brief Introduction
of Myself
                     • Marketing is an organizational function and set of
          ...
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Lecture 1 Mmm 2010

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Transcript of "Lecture 1 Mmm 2010"

  1. 1. Managing The Marketing Mix Lecture 1: Introduction to Marketing and the Marketing Mix Dr. Martin J. Liu Lecturer in Marketing Nottingham Business School China
  2. 2. Module Objectives Brief Introduction • The concept of marketing and marketing’s role in the of Myself firm. Module Outlooks • Understand marketing mix decisions Lecture 1 • Understand the role of product, price, promotion, Objectives • and place (the 4 P’s) and extra 3Ps for services. What is Marketing? • Be able to critique the marketing mix and investigate The Marketing Mix the key marketing challenges (the 4 P’s) Summary
  3. 3. Module Design Brief Introduction Module Delivery of Myself • 10 one-hour lectures + 1 two-hour compulsory seminars. • Main text book: Jobber (2010) Principles and Practice of Marketing, Module Outlooks 4thedition, McGraw-Hill, Maidenhead • Key Readings: academic journals are essential and are detailed in the module outline. Lecture 1 Objectives Seminar Presentation • You are asked to form a group of 4 -5 people in your allocated seminar. What is Marketing? • Each presentation should last in between 25 – 30 minutes. • Attendance of seminar presentations are compulsory. No other excuses The Marketing Mix will be accepted except sickness. Failing to attend seminar will result in (the 4 P’s) failing of this module. • Detailed Presentation guideline will be posted next week by David Todd. Summary Assessment • Examination (100 %) Lecture materials and module outline can be found at: U:3rd Year ShareBusiness SchoolSemester 2 0910Managing the Marketing Mix
  4. 4. Contact Information of the Lecturers Brief Introduction of Myself Module Convenor: Email: Module Outlooks Martin.Liu@Nottingham.edu.cn Lecture 1 Objectives Office Hours: Every Wednesday, 12:30 - 2:30 PM at AB480 What is Marketing? The Marketing Mix (the 4 P’s) Please make an appointment outside regular office hours if you wish to come and talk to me. Summary Seminar Tutor: Email: David.Todd@Nottingham.edu.cn
  5. 5. Module Structure Brief Introduction 1. Introduction to Marketing and the Marketing Mix of Myself 2. Product and New product Development Module Outlooks 3. Place and Channels to Market Lecture 1 4. Pricing Objectives 5. Promotion and Marketing Communications (1) What is Marketing? 6. Promotion and Marketing Communications (2) The Marketing Mix 7. Extending the Marketing Mix: Service Marketing (the 4 P’s) 8. Buyers Behaviour Summary 9. Branding 10. Market Research and Module Review
  6. 6. Lecture 1 Objectives Brief Introduction of Myself • To define marketing • To understand the role of marketing Module Outlooks • To understand the marketing process Lecture 1 Objectives • To introduce the Marketing Mix and its role in the marketing process What is Marketing? The Marketing Mix (the 4 P’s) Summary
  7. 7. What is Marketing? Brief Introduction of Myself • A philosophy of business –Customer-centric Module Outlooks –External focus Lecture 1 Objectives –Focus on customer value & satisfaction What is Marketing? • An organizational function The Marketing Mix • A management process (the 4 P’s) • A set of techniques Summary “The management process responsible for identifying, anticipating and satisfying customer requirements profitably.” Chartered Institute of Marketing (1989)
  8. 8. Marketing Process is: Brief Introduction of Myself • Defining markets; • Quantifying the needs of customer groups Module Outlooks (segments) within these markets; Lecture 1 Objectives • Determining the value proposition to meet those needs; What is Marketing? • Communicating the value proposition, both The Marketing Mix internally and externally; (the 4 P’s) • Monitoring the value actually delivered. Summary (McDonald,M.2003)
  9. 9. The Selling & Marketing Concept Contrast Brief Introduction of Myself Module Outlooks Lecture 1 Objectives What is Marketing? The Marketing Mix (the 4 P’s) Summary Marketing is a matching process between a company’s capabilities and the wants of its customers.
  10. 10. The Marketing Process: Making and Delivering Value Brief Introduction of Myself Module Outlooks Lecture 1 Objectives What is Marketing? The Marketing Mix (the 4 P’s) Summary
  11. 11. Key Characteristics of An Effective Marketing Mix Brief Introduction •The elements are not of Myself independent of each other. Module Outlooks •The mix elements should be Lecture 1 well blended to form a consistent Objectives theme What is Marketing? •The marketing mix matches The Marketing Mix customer needs (the 4 P’s) •The marketing mix matches Summary corporate resources The marketing mix paradigm ( Borden, 1964, McCarthy, •The marketing mix creates a 1978) competitive advantage
  12. 12. Criticism of The Marketing Mix Brief Introduction • Represents the sellers view of of Myself marketing (Kotler, 2003) • Simplification of reality Module Outlooks • The broadening of marketing to include services, not-for- profits and even politics (7Ps, Lecture 1 add People, Processes and Objectives Physical Evidence) • Introduction of Total Quality What is Marketing? Management with its emphasis on “customer satisfaction” The Marketing Mix • B2B-Industrial marketing (the 4 P’s) contexts • A focus on the customer, Summary extending from the transactional to relational marketing • Identification of the firm as a member of a complete value chain
  13. 13. Summary Brief Introduction of Myself • Marketing is an organizational function and set of processes for creating, communicating and Module Outlooks delivering value to customers Lecture 1 • Marketing strategies are implemented through Objectives management of the marketing mix, which can be What is Marketing? summarised as the 4P’s. The Marketing Mix • Effective strategies harmonise the elements of the (the 4 P’s) marketing mix into a consistent approach to target Summary markets • But-action programme based on the 4Ps should account for 21stCentury challenges

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