This document provides an overview of a marketing management course, outlining the course description, map, lectures, and key concepts to be covered. The course will introduce students to fundamental marketing principles like the marketing mix, orientations, concepts of needs and wants, segmentation, targeting, positioning, and brands. It will also discuss topics such as marketing planning, research, ethics, and developing competitive strategies.

1. A “Paranomic”View of Marketing
Lartey Jared Offei
EntrepreneurshipTraining Institute [E.T.I]
Corresponding E-mail: joffei@vvu.edu.gh
Facebook||Twitter: @offeijared
Marketing Management [MKTG 315] Lecture 1
With Texts Based on Kotler & Keller (2012); Ferrell & Hartline (2011)
Designed by © 2017 Grey Scholar

2. Course Description
This course is purposefully designed to introduce students to
marketing principles & concepts, the marketing environment, marketing
planning, coordination and implementation of various marketing
activities in relation to products and services.
Emphasis is primarily placed on industrial application of the four P‟s
[products, pricing, promotion and distribution]. Discussion areas also
include marketing research, segmentation, targeting, positioning, and
how to apply different competitive marketing strategies to solve
marketing issues from a managerial perspective.

3. Course Map
Marketing Planning Process
ParanomicView
Marketing
Case Studies
Marketing Ethics
Social Responsibility
Marketing Research
Demand and Forecasting
Competitive Advantage
Segmentation
Targeting
Positioning
Marketing Mix
Product Strategy
Pricing Strategy
Distribution Strategy
Marketing Communication
Semester Projects
Marketing Insight
P’s
Assignments
Quizzes
Exams

4. Lecture Outline/Questions
• Evolution of Marketing
• Defining Marketing
• New Marketing Realities
• The Scope of Marketing
• Importance of Marketing
• Marketing Orientations
• Core Marketing Concepts
-How has marketing evolved over the past years?
-How can we define marketing from a post millennial perspective?
-How have new marketing realities influenced its practice and
markets?
-What is the true value of marketing?
-How does the concept of marketing differ per orientation?
Assignment One
See course outline

5. Overview
• Practical marketing concerns the day-to-day tasks of ensuring that
the product or service, as it currently exists, is communicated and
delivered successfully to customers.
• Obviously, this will require planning and developing strategies. Yet,
as we all know, today‟s market is dynamic, customers tastes are
changing, and wider conditions like government regulations and
competitors are affecting the success of marketing.
• Not withstanding these factors and more, marketers need to
plan! develop strategies and execute them professionally to
generate overall benefits to both firms and customers.
• These considerations will lead our following sessions as we study
the phenomena of Marketing Management.

6. Evolution of Marketing
So what's next for Marketing?

7. Defining Marketing
• Marketing is an art and science as marketers strive to find
creative new solutions to often-complex challenges amid
profound changes in the marketing environment.
• Marketing is about identifying and meeting human and social
needs. One of the shortest good definitions of marketing is
“meeting needs profitably” [Kotler & Keller, 2012].
• Marketing is the activity, set of institutions, and processes for
creating, communicating, delivering, and exchanging offerings
that have value for customers, clients, partners, and society at
large [American Marketing Association].
Peter Drucker:
The aim of marketing is to know and understand the customer so well that the
product or service fits him and sells itself. Hence, effective marketing makes selling
superfluous.

8. Defining Marketing
• Marketing management is the art and science of choosing target
markets and getting, keeping, and growing customers through
creating, delivering, and communicating superior customer value.
• What is Marketed?
Goods [E.g. canned & frozen foods]
Services [E.g. diagnostics, teaching, legal service]
Events [E.g. Olympics, national sanitation day]
Experiences [E.g. visiting a historic site, pirate ship, hiking]
Persons [E.g. political candidates, athletes]
Places [E.g. museum, school, restaurant]
Ideas [E.g.“Occupy Flag Staff House”,“Wear your seat belt”]

9. New Marketing Realities
From marketing does everything to everyone
does the marketing.
How do these influence marketing
management today?
From relying on old market positions to
uncovering new ones.
From being local to being global.
From attracting customers through stores
and salespeople to making products available
online.
From many suppliers to working with few
suppliers in a „partnership‟.
Consumers can collect information in as
much breadth and depth as they want about
practically anything
Consumers have found an amplified voice to
influence peer and public opinion.

10. The Scope of Marketing
Marketing
IMC
Marketing Research
E-marketing Relationships
Branding
Distribution
Sales Management
Promotions
Etc.
Data Mining
Service Marketing
Consumer Behaviour
© 2017 Grey Scholar

11. Importance of Marketing
• Financial success often depends on marketing ability.
• Two major functions; Marketing and Innovation.
• Marketing‟s broader importance extends to society as a whole;
anticipating and satisfying human and social needs.
• The role of marketing in building strong brands and a loyal
customer base contributes heavily to the value of a firm.
• Consumer goods makers, health care insurers, nonprofit
organizations, and industrial product manufacturers all trumpet
their latest marketing achievements.

12. Marketing Orientations
• The Production Concept [The Chinese Philosophy, Henry Ford]
Widely available/Inexpensive.
• The Product Concept
Quality/Performance/Innovative features.
• The Selling Concept
Focuses on sellers needs, consumers are dormant when left alone, sell what you
make E.g. Insurance.
• The Marketing Concept [E.g. Dell, Nike ID]
Customer centered/Creating, delivering, and communicating superior value.
• Socially Responsible Marketing [Ethics, Environment]
• Relationship Marketing
Build mutually satisfying long-term relationships with key constituents in order to
earn and retain their business. [Customers, Employees, Suppliers, Intermediaries]
• Holistic Marketing
A broad and integrated perspective is often necessary.

13. Marketing Orientations
Source: Kotler & Keller (2012)

14. Core Marketing Concepts
• The 4 P’s of Marketing
PromotionPlace
PriceProduct
Marketing Mix
© 2017 Grey Scholar
• Product should provide a solution to the customers needs
• Price of the product should communicate value
• Customers expect a convenient place of exchange or delivery channel
• Promotions should communicate customer benefits

15. Core Marketing Concepts
Needs & Wants
• Needs are the basic human requirements such as for air, food,
water, clothing, and shelter.
• Humans also have strong needs for recreation, education, and
entertainment. These needs become wants when they are
directed to specific objects that might satisfy the need.
Target Markets, Positioning & Segmentation
• Not everyone likes the same offering. Marketers identify and
profile distinct groups of buyers who might prefer or require
varying product and service mixes by examining demographic,
psychographic, and behavioral differences among buyers.
• After identifying market segments, the marketer decides which
present the greatest opportunities.
• For each segment , the firm develops a market offering that it
positions in the minds of the target buyers.

16. Core Marketing Concepts
Demand: Marketers are skilled at stimulating managing demand.
• Negative demand: Consumers dislike the product and may
even pay to avoid it [E.g. Disruptive Ads].
• Nonexistent demand: Consumers may be unaware of or
uninterested in the product.
• Latent demand: Consumers may share a strong need that
cannot be satisfied by an existing product.
• Declining demand: Consumers begin to buy the product less
frequently or not at all.
• Irregular demand: Consumer purchases vary on a seasonal,
monthly, weekly, daily, or even hourly basis.
• Full demand: Consumers are adequately buying all products put
into the marketplace.

17. Core Marketing Concepts
• Overfull demand: More consumers would like to buy the
product than can be satisfied.
• Unwholesome demand: Consumers may be attracted to
products that have undesirable social consequences.
Brands
• A brand is an offering from a known source. Brands carry many
associations in people’s minds that makes up an image for a
product or service.
• Names, Logos, Characters, Designs & Colours identify a product
to a specific manufacturers and differentiates the products from
existing offerings.

18. Marketing Insight
London, September, 2016: Fans queue at Apple Store as sales begin amid supply shortage
Photo Credit: Getty Images