Marketing Chapter 01

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Marketing Chapter 01

  1. 1. Chapter 1: “Marketing Today” Joel R. Evans & Barry Berman Marketing, 10e: Marketing in the 21st Century
  2. 2. Chapter Objectives <ul><li>To illustrate the exciting, dynamic, and influential nature of marketing </li></ul><ul><li>To define marketing and trace its evolution with emphasis on the marketing concept, a marketing philosophy, customer service, and customer satisfaction and relationship marketing </li></ul><ul><li>To show the importance of marketing as field of study </li></ul><ul><li>To describe the basic functions of marketing and those that perform these functions </li></ul>
  3. 3. Text Overview <ul><li>All marketing efforts are directed to the consumer </li></ul><ul><li>Environmental analysis </li></ul><ul><li>Product </li></ul><ul><li>Price </li></ul><ul><li>Distribution </li></ul><ul><li>Promotion </li></ul>Environmental Analysis & Marketing Research TOTAL MARKETING EFFORT Marketing Management Product Planning Broadening the Scope of Marketing Consumer Analysis Promotion Planning Distribution Planning Price Planning
  4. 4. Marketing Definition <ul><li>Marketing is the Anticipation, Management and Satisfaction of Demand through the Exchange Process . </li></ul>
  5. 5. Definition of Marketing <ul><li>A nticipation of Demand requires a firm to do consumer research in anticipation of market’s potential and consumers’ desires. </li></ul><ul><li>M anagement of Demand includes: </li></ul><ul><ul><li>S timulation: motivates consumers to want firm’s offerings </li></ul></ul><ul><ul><li>F acilitation: makes it easy to buy offerings </li></ul></ul><ul><ul><li>R egulation: involves balancing inventory to consumer demand </li></ul></ul>
  6. 6. Definition of Marketing <ul><li>S atisfaction of Demand involves product availability, product performance, perceptions of safety, & after-sale services. </li></ul><ul><li>An E xchange P rocess includes the agreement for payment: cash/credit/promise to pay or support for a firm, institution, idea, or place . </li></ul>
  7. 7. Ethical Exchanges <ul><li>Exchanges must be done in socially responsible way </li></ul><ul><li>Both buyer and seller should consider impact on society and environment </li></ul>Seller Buyer
  8. 8. Consumer & Publics’ Demand <ul><li>Consumer Demand refers to final and organizational consumers </li></ul><ul><li>Publics’ Demand refers to needs of unions, employees, stock holders & general public </li></ul>
  9. 9. How Marketing Evolves Barter Era Self-sufficiency Basic one-on-one trading Production Era Demand exceeds supply Output expanded Sales Era Supply equals demand Selling process important Marketing Dept. Era Supply Exceeds Demand Marketing a Subsidiary Function Marketing Co. Era Supply exceeds demand Integrated role for marketing
  10. 10. The Marketing Concept Consumer Orientation Goal Orientation Marketing Concept Market-Driven Approach Value-Based Philosophy Integrated Marketing Focus
  11. 11. Focus of Selling Philosophy Production Selling Consumption
  12. 12. Focus of Marketing Philosophy Consumer Need Evaluation Integrated Marketing Effort Achievement of Organizational Goals Consumer Satisfaction Feedback
  13. 13. Selling Philosophy <ul><li>Output “Sold” to Consumers </li></ul><ul><li>Looks at Individual, Single Consumer </li></ul><ul><li>Seeks Sales Rather Than Profit </li></ul><ul><li>Short-Term Goal Orientation </li></ul><ul><li>Concerned with Current Inventory Reduction </li></ul><ul><li>Narrower View of Consumer Needs </li></ul><ul><li>Little Adaptation to Environment </li></ul><ul><li>Informal Planning & Feedback </li></ul>
  14. 14. Marketing Philosophy <ul><li>Consumer-Oriented </li></ul><ul><li>Stresses Research & Consumer Analysis </li></ul><ul><li>Looks at Groups of Consumers </li></ul><ul><li>Profit-Oriented </li></ul><ul><li>Directed to Long-Range Goals </li></ul><ul><li>Two-Way Interactive Process </li></ul><ul><li>Appropriate Adaptation to Marketing Environment </li></ul><ul><li>Broad View of Consumer Needs </li></ul><ul><li>Integrated Planning & Feedback </li></ul>
  15. 15. Factors That Affect Customer Satisfaction Overall Customer Satisfaction Courteous Employees Knowledgeable Employees Friendly Employees Helpful Employees Accuracy of Billing Quick Service Billing Clarity Billing Timeliness Good Value Competitive Pricing
  16. 16. Relationship Marketing <ul><li>Through </li></ul><ul><li>Relationship Marketing , </li></ul><ul><li>companies build </li></ul><ul><li>customer satisfaction </li></ul><ul><li>and increase long-term </li></ul><ul><li>customer loyalty. </li></ul>
  17. 17. Customer Service <ul><li>Customer Service tends to be intangible, but quite meaningful, to many customers. </li></ul><ul><li>In today’s highly competitive, global marketplace, the level of customer service a firm provides can affect its ability to attract and retain customers more than ever before. </li></ul>
  18. 18. Marketing Performers Organizational Consumer Marketing Specialist Manufacturer or Service Provider Retailer Wholesaler Basic Marketing Performers Final Consumer
  19. 19. Marketing Performers! <ul><li>Include: </li></ul><ul><li>Consumers </li></ul><ul><li>Manufacturers </li></ul><ul><li>Service Providers </li></ul><ul><li>Wholesalers </li></ul><ul><li>Retailer </li></ul><ul><li>Marketing Specialists </li></ul>
  20. 20. Basic Functions of Marketing Text Chapters Environmental Analysis & Marketing Research TOTAL MARKETING EFFORT Marketing Management Product Planning Broadening the Scope of Marketing Consumer Analysis Promotion Planning Distribution Planning Price Planning See Chapters 2 & 4 See Chapters 5 – 7 See Chapters 8 – 10 See Chapters 3 & 22 See Chapters 20 – 21 See Chapters 17 – 19 See Chapters 14 – 16 See Chapters 11 – 13
  21. 21. 8 Marketing Functions <ul><li>Environmental Analysis and Marketing Research : Monitoring and adapting to external factors that affect success or failure, such as the economy and competition; and collecting data to resolve specific marketing issues. </li></ul><ul><li>Broadening the Scope of Marketing : Deciding on the emphasis to place, as well as the approach to take, on societal issues, global marketing, and the Web. </li></ul><ul><li>Consumer Analysis : Examining and evaluating consumer characteristics, needs and purchase processes; and selecting the group(s) of consumers at which to aim marketing efforts. </li></ul>
  22. 22. 8 Marketing Functions continued <ul><li>Product Planning (including goods, services, organizations, people, places, ideas): Developing and maintaining products, product assortments, product images, brands, packaging, and optional features, and deleting faltering products. </li></ul><ul><li>Distribution Planning : Forming logistical relationships with intermediaries, physical distribution, inventory management, warehousing, transportation, allocating goods & services, wholesaling, and retailing. </li></ul><ul><li>Promotion Planning : Communicating with customers, the general public, and others through some type of advertising, public relations, personal selling, and/or sales promotion. </li></ul>
  23. 23. 8 Marketing Functions continued <ul><li>Price Planning : Determining price levels and ranges, pricing techniques, terms of purchase, price adjustments, and the use of price as an active or passive factor. </li></ul><ul><li>Marketing Management : Planning, implementing, and controlling the marketing program (strategy) and individual marketing functions; appraising the risks and benefits in decision making; and focusing on total quality. </li></ul>
  24. 24. Chapter Summary <ul><li>This chapter illustrates the dynamic and influential nature of marketing from the perspective of businesses and consumers. </li></ul><ul><li>It provides a definition of marketing and traces its evolution with emphasis on the marketing concept, a marketing philosophy, customer service, and customer satisfaction and relationship marketing. </li></ul><ul><li>The chapter shows the importance of marketing as a field of study. </li></ul><ul><li>It describes the 8 basic functions of marketing and those that perform these functions. </li></ul>

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