Marketing 1

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					  Marketing 1
An Overview of Marketing
WHAT IS…?
 MARKETING
              MARKETING
 Sine   Qua Non of Business

 “Without This Nothing”
               MARKETING

 Meeting   customer needs


 Exchange:     Quid pro Quo (This for That)


 Creating,   Promoting & Delivering:
     Goods & Services
Where can marketing be used?
 Traditional  Businesses
 Not-For-Profit Companies
 Institutions
 Social Organizations
 Social Causes and Ideas
 Politics
 Sports and Entertainment
                  Markets
 All   actual and potential customers

 Can’tbe all things to all people, so
  break up total market into segments

 Each segment is comprised of people
  who are grouped by their similarity
  along some dimensions
             Marketing

 Defining marketing
 Marketing mix
 Management philosophies
 Requirements for successful marketing
 Market place orientations




                   1.1
     What Is Marketing?

  A set of processes for creating,
communicating and delivering value
 to customers, with the intention of
building long term relationships that
 will benefit the organization and its
             stakeholders.



                 1.3
        Exchange Process




BUYER                 SELLER




                1.2
         MARKETING MIX
Decisions that must be made. The “ingredients.”


     PRODUCT
     PROMOTION
     PLACE
     PRICE
 KEY: Devise a mix that satisfies
 customers and generates a profit for the
 firm.

                      1.4
 MARKETING PHILOSOPHIES

PRODUCTION ORIENTATION
  – Focus on internal capabilities of the firm
    rather than on the marketplace




  SALES ORIENTATION
  – Aggressive sales techniques used to drive
    profits
                      1.5
        The Marketing Concept
 The social and economic justification for
 an organization’s existence is the
 satisfaction of customer wants and needs
 while meeting organizational objectives.

 The   value as perceived by the customer!
       MARKET ORIENTATION
   EMPLOYING THE MARKETING CONCEPT
     – Customer needs/wants orientation
     – Aimed at generating customer satisfaction
     – Satisfying organizational goals




   STRATEGIC MARKETING MANAGEMENT
     – Gather information about customers, competitors,
       and markets
     – Selection of target markets
     – Development of marketing mix
                           1.6
        SOCIETAL MARKETING
           ORIENTATION
 Satisfy   customer wants/needs

 Organizational   goals

 Andpreserve or enhance society’s long
 term best interest



                       1.7
                     Value


   Value is what the customer thinks it is.
   Customer Value = Benefits
                      Costs




                       1.8
       Customer Satisfaction


Satisfaction = Experience - Expectation
      Long-Term Relationships
 Repeat  Sales
 Referrals
 Lower Costs
     Customer Retention vs. Customer Acquisition
 IncreasedSales
 Premium Price (slight)
Successful relationship marketing
            requires

 Customer   Oriented Personnel

 Good   Training

 Empowerment


 Teamwork
                    1.10
Importance of marketing in society


   Importance to Business

   Career Opportunities

   Affects Daily Life

   To You
                         1.11

				
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posted:10/28/2011
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