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Introduction to Marketing,

General principles and Concepts

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What is Marketing?

Simply put: Marketing is the delivery


of customer satisfaction at a profit.
Goals: Attract new customers by
promising superior value and
keep and grow current customers by
delivering satisfaction.

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Core Marketing Concepts

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Marketing Defined

Process by which individuals and


groups obtain what they need and
want through creating and
exchanging products and value
with others.

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What are Consumers’ Needs,
Wants, and Demands?

Needs - state of felt


deprivation including
physical, social, and
individual needs i.e hunger
Wants - form that a human
need takes as shaped by
culture and individual
personality i.e. bread
Demands - human wants
backed by buying power
i.e. money
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What Will Satisfy Consumers’
Needs and Wants?
Products
nything that can be Offered to a Market to Satisfy a Need or Want

Experiences Persons Places

Organizations Activities Ideas

Services
Activity or Benefit Offered for Sale That is Essentially
Intangible and Doesn’t Result in the Ownership of Anything
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How Do Consumers Obtain
Products and Services?

Exchanges Transactions

Relationships
Building a Marketing
Network by Adding:
•Financial Benefits
•Social Benefits
•Structural Ties
•Profitable Customers
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Modern Marketing System

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Marketing Management
Involves managing demand,
Marketing which involves managing
Management customer relationships

Finding and increasing


Demand demand, also changing or
Management reducing demand such as in
Demarketing
Profitable Attracting new customers and
Customer retaining and building
Relationships relationships with current
customers

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Marketing management
The issues…
 The Marketing Management concept-the
planning stage, implementation, control
stages, basic marketing concepts, company
orientation towards marketing

 Analyzing marketing opportunities,


environment analysis, consumer analysis,
competitors

 Researching and selecting target markets-


identifying market segments and selection
10 target markets
Marketing management
The issues…
 Designing marketing strategies-differentiating
and positioning, new product development,
managing the product-Product life cycle,
product lines, brands, packaging etc.
Designing pricing strategies, managing
marketing channels, retailing, wholesaling
Designing promotion strategies.

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Marketing Management
Philosophies
Production Concept

Product Concept
Selling Concept

Marketing Concept

Societal Marketing Concept

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Marketing and Sales Concepts
Contrasted (Fig. 1-3)

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Societal Marketing Concept
(Fig. 1-4)

http://www.johnsonandjohnson.com/
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Marketing Challenges in the New
“Connected” Millennium (Fig. 1-5)

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Technologies for Connecting

Learn About & Create Products &


Track Customers Services Tailored to
With Databases Meet Customer Needs
Connecting Technologies in
Computers,
Telecommunications,
Information, & Transportation
Help To:
Communicate With Distribute Products
Customers in Groups More Efficiently &
Or One-on-One Effectively

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The Internet
 The Internet has been hailed as the
technology behind a New Economy.
 New applications include:
 “click-and-mortar” companies
 “click-only” companies
 Business-to-business e-commerce
 By 2005, 500,000 companies will use the
Internet to do business.
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Connections With Customers
 Most marketers are
targeting fewer,
potentially more
profitable customers.
 Asking:
 What value does the
customer bring to the
organization?
 Are they worth pursuing?
 Connecting for a
customer’s lifetime.
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Direct Connections With
Customers
 Many companies use technologies to let them
connect more directly with their customers.
 Products available via telephone, mail-order catalogs,
kiosks and e-commerce.
 Some firms sell only via direct channels (i.e. Dell
Computer, http://www.amazon.com/), others use a
combination.
 Direct marketing is redefining the buyer’s role in
connecting with sellers.
 Buyers are active participants in shaping the marketing
offer and process; some buyers design their own
products online such as at http://www.landsend.com/.
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Connections With Marketing’s
Partners

 Connecting Inside  Connecting With


the Company Outside Partners
 Every employee  Supply Chain
must be Management
customer-focused  Strategic
 Teams coordinate Alliances
efforts toward
customers

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