What is marketing.ppt@ mba


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What is marketing.ppt@ mba

  1. 1. What is Marketing
  2. 2. Discussion Questions <ul><li>What is marketing? </li></ul><ul><li>What can marketers market? </li></ul><ul><li>What types of decisions do marketers make? </li></ul>
  3. 3. Marketing and Exchange <ul><li>Marketing is an exchange between a firm and customer </li></ul>Company Customer The customer seeks benefits from the company, and expects to pay. The company offers benefits to its customers, and seeks profits.
  4. 4. Discussion Questions <ul><li>Why might an exchange NOT occur? </li></ul><ul><li>What is the long term benefit to having satisfaction in an exchange? </li></ul>
  5. 5. What Can We Market?
  6. 6. What Can We Market?
  7. 7. Orientations <ul><li>Product/Production </li></ul><ul><ul><li>Build a better mousetrap </li></ul></ul><ul><li>Selling Orientation </li></ul><ul><ul><li>Let’s make a Deal </li></ul></ul><ul><li>Marketing/Customer </li></ul><ul><ul><li>Building relationships with the customer </li></ul></ul>
  8. 8. Discussion Question <ul><li>Assume you are marketing pens. Can you describe how you would market under a product orientation compared to a customer orientation? </li></ul>
  9. 9. Marketing IS the Business <ul><li>Marketing should permeate the entire organization </li></ul><ul><li>Chief Marketing Officers (CMO) need to show results </li></ul><ul><ul><li>Quantify results when possible </li></ul></ul>
  10. 10. Marketing Framework <ul><li>Start with a Situational Analysis using the 5Cs </li></ul>
  11. 11. Marketing Framework <ul><li>Customers </li></ul><ul><ul><li>Who are they? </li></ul></ul><ul><ul><li>What are they like? </li></ul></ul><ul><ul><li>Do we want to draw different customers? </li></ul></ul><ul><li>Company </li></ul><ul><ul><li>What are our strengths and weaknesses? </li></ul></ul><ul><ul><li>What customer benefits can we provide? </li></ul></ul>
  12. 12. Marketing Framework <ul><li>Context </li></ul><ul><ul><li>What is happening in our industry that might reshape our future business? </li></ul></ul><ul><li>Collaborators </li></ul><ul><ul><li>Can we address our customers’ needs while strengthening our B2B partnerships? </li></ul></ul>
  13. 13. Marketing Framework <ul><li>Competitors </li></ul><ul><ul><li>Who are the competitors we must consider? </li></ul></ul><ul><ul><li>What are their likely actions and reactions? </li></ul></ul>
  14. 14. Marketing Framework <ul><li>Proceed to Strategic Marketing Planning with STP </li></ul>
  15. 15. Marketing Framework <ul><li>Segmentation </li></ul><ul><ul><li>Customers aren’t all the same; they vary in their preferences, needs, and resources </li></ul></ul><ul><li>Targeting </li></ul><ul><ul><li>Attracting some of those customers makes better sense than going after others </li></ul></ul><ul><li>Positioning </li></ul><ul><ul><li>Communicate your benefits clearly to your intended customers </li></ul></ul>
  16. 16. Marketing Framework <ul><li>Advance to Marketing Tactics with the 4Ps </li></ul>
  17. 17. Marketing Framework <ul><li>Product </li></ul><ul><ul><li>Will customers want what your company is prepared to produce? </li></ul></ul><ul><li>Price </li></ul><ul><ul><li>Will customers pay what you’d like to charge? </li></ul></ul>
  18. 18. Marketing Framework <ul><li>Place </li></ul><ul><ul><li>Where and how will customers purchase your market offering? </li></ul></ul><ul><li>Promotion </li></ul><ul><ul><li>What can you tell your customers or do for them to entice them to purchase? </li></ul></ul>
  19. 19. Framework Considerations <ul><li>5 Cs, STP and 4 Ps are interdependent </li></ul><ul><ul><li>Marketers must understand how one decision impacts other decisions </li></ul></ul><ul><li>The 5 Cs are in flux </li></ul><ul><ul><li>Marketers must consistently monitor and adjust strategy accordingly </li></ul></ul>
  20. 20. Discussion Question <ul><li>How can one judge whether or not marketers made the “right” decisions? </li></ul>
  21. 21. Types of Shopping
  22. 22. Types of Shopping
  23. 23. Purchase Decision Making
  24. 24. Models for How Buyers Decide <ul><li>Lexicographic method </li></ul><ul><ul><li>Compare brands by most important attribute; brands that make the cut go into consideration set; then compare on next important attribute, etc. </li></ul></ul><ul><li>Average method </li></ul><ul><ul><li>One attribute can’t make or break a brand </li></ul></ul><ul><li>Use attribute importance </li></ul><ul><ul><li>Assists with segmentation </li></ul></ul>
  25. 25. B2B Customers <ul><li>Classifications </li></ul><ul><ul><li>Installations </li></ul></ul><ul><ul><li>Accessories </li></ul></ul><ul><ul><li>Raw materials </li></ul></ul><ul><ul><li>Components </li></ul></ul><ul><ul><li>Business services </li></ul></ul><ul><li>Most important classification is whether a business cares about a purchase </li></ul>
  26. 26. B2B Customers <ul><li>More complex decision making due to different roles within a business: </li></ul><ul><ul><li>Initiators </li></ul></ul><ul><ul><li>Users </li></ul></ul><ul><ul><li>Influencers </li></ul></ul><ul><ul><li>Buyers </li></ul></ul><ul><li>Each role may sleek slightly different attributes </li></ul>
  27. 27. This Book… <ul><li>Assumes global customers </li></ul><ul><li>Assumes omnipresence of the Internet </li></ul><ul><li>Gives fresh, fun examples </li></ul><ul><li>Trains you to think like a marketer </li></ul><ul><li>Defines terms as necessary </li></ul><ul><li>Offers lists of factors to consider </li></ul><ul><li>Gives “how to” guidance when feasible </li></ul>
  28. 28. This Book… <ul><li>Each chapter opens with the Marketing Framework to maintain a focus on the big picture while also highlighting key concepts and tools about to be covered. </li></ul>
  29. 29. This Book… <ul><li>Begins each chapter with coverage of “ What ” is the topic and “ Why ” it should matter to you </li></ul><ul><li>Every chapter then addresses the question of “ How do I do this successfully?” </li></ul>
  30. 30. Book Layout