Mkt Class 1

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LAU Marketing 201 - Class 1

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Mkt Class 1

  1. 1. 1<br />George Abi Habib<br />What<br />is<br />?<br />why<br />Where<br />When<br />MARKETING<br />
  2. 2. The Start of marketing….<br />2<br />George Abi Habib<br />
  3. 3. The old days…Product centric. <br />3<br />George Abi Habib<br />You can have whatever color you like… as long as it is black. <br />
  4. 4. George Abi Habib<br />4<br />Limited choice…. <br />
  5. 5. George Abi Habib<br />5<br />Limited Competition…<br />
  6. 6. George Abi Habib<br />6<br />
  7. 7. Customer centric …<br />George Abi Habib<br />7<br />What I want, when I want, how I want it…<br />
  8. 8. George Abi Habib<br />8<br />Infinite choice…<br />
  9. 9. George Abi Habib<br />9<br />Intense Competition …<br />
  10. 10. George Abi Habib<br />10<br />What is marketing? <br />“Marketing is the management process which identifies, anticipates and supplies customer requirements efficiently and profitably” <br /> Chartered Institute of Marketing<br />“Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods and services to create exchanges that satisfy individual and organizational objectives”<br /> American Marketing Association<br />
  11. 11. 11<br />Simplified Definition<br />“Marketing is the discovery of human needs or wants and the fulfillment of those demands with customer focused goods or services…” <br />“The right product, in the right place, at the <br /> right time, at the right price”<br />People don't want to be "marketedto"; they want to be "communicated WITH." - Flint McLaughlin <br />In the factory we make cosmetics; in the beauty shop we sell hope. - Charles Revson<br />George Abi Habib<br />
  12. 12. Our Working definition<br />George Abi Habib<br />12<br />Marketing is the management of profitable customer relationships by the creation of added value in exchange for profits…<br />
  13. 13. Marketing is not Sales!<br />OBJECTIVE<br />The Selling Concept<br />Existing Product<br />Selling &<br />Promoting<br />Profits from Volume<br />Factory <br />The Marketing Concept<br />Customer Needs<br />Integrated Market<br />Profits from Satisfaction<br />Market<br />13<br />George Abi Habib<br />
  14. 14. The Marketing Process<br />14<br />George Abi Habib<br />By creating value, you capture value<br />
  15. 15. Where is Value created? <br />15<br />Needs<br />Wants<br />Today’s demands are tomorrow’s needs<br />Demands<br />George AbiHabib<br />
  16. 16. What is added value? <br />George Abi Habib<br />16<br />$10 USD<br /> .33 Oz.<br />$14 USD<br />$8 USD<br />100 Oz.<br />$23 USD<br />+300% <br />Profit<br />
  17. 17. George Abi Habib<br />17<br />Real value, is unlocked in replication…. LOYALTY <br />
  18. 18. Customer Life time Value: The total Value of the combined purchases of a company’s customer over the lifetime of that relationship.<br />18<br />George Abi Habib<br />Which one would you buy…<br />Customer Equity = All customer lifetime value<br />
  19. 19. What is Customer equity worth?<br /> $50,000,000,000<br />19<br />George Abi Habib<br />Butwhy?<br />
  20. 20. Confidential<br />20<br />Recommended Reading<br />Books: 22 immutable laws of Branding, Losing my Virginity, Brands and Branding, Brand Sense, The Google story.<br />Magazine: Communicate Magazine, Advertising age, kippreport.com<br />Movies: The Big Kahuna,The social Network, The Aviator, Thank you for Smoking, <br />

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