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					    Marketing



Prof. Rushen Chahal


      Prof. Rushen Chahal
             A Definition of
               Marketing
Marketing: the process of creating,
 distributing, promoting, and pricing
 goods, services, ideas, and organizations
 to facilitate satisfying exchange
 relationships with customers and to
 develop and maintain favorable
 relationships with stakeholders in an
 dynamic environment.
                  Prof. Rushen Chahal
          Another Definition

• Marketing: an organizational process for
  creating, communicating, and delivering




                  Prof. Rushen Chahal
      Traditional vs. Nontraditional
               Marketing
• Traditional Marketing
  – Goods
  – Services
• Non-Traditional Marketing
  –
  –
  –
  –
  –
  –
                    Prof. Rushen Chahal
          Discussion Outline
• What is Marketing?
  – Definition
  – Domain
• Alternative Conceptualizations
  – Marketing As Utility
  – Marketing as Demand Satisfaction
• The Marketing Environment
  – Marketing Mix
  – Targeting, Positioning, Segmentation

                    Prof. Rushen Chahal
                                      Marketing As Utility
                                                                                           Organizational
                                                                                             Function
       Type           Description                             Examples                      Responsible



Form            Conversion of raw           Skippy Peanut Butter; State Farm automobile    Production
                materials and               insurance policy; Boeing 767 aircraft
                components into
                finished goods and
                services
Time            Availability of goods       One-hour dry cleaning; LensCrafters eyeglass   Marketing
                and services when           guarantee; Federal Express’ guarantee of
                consumers want them         package delivery by 10:30 a.m. the next day


Place           Availability of goods       Soda machines in school lobbies; coffee and    Marketing
                and services at             snacks in Barnes & Noble bookstores; day
                convenient locations        cares in office complexes; ATM machines in
                                            gas stations; mail boxes outside convenience
                                            stores
Ownership       Ability to transfer title   Retail sales (in exchange for currency or      Marketing
(possession )   to goods or services        credit-card payment); swap meets
                from marketer to buyer



                                              Prof. Rushen Chahal
         MOTTS


        The copy reads:
“Same ingredients. Ours just
  fits through a straw.” and
    “MOTTS MEANS FRUIT”




                               Prof. Rushen Chahal
Prof. Rushen Chahal
             Marketing as Demand Satisfaction

 Demand is a measure of the desire that potential
  customers have for a product or service . . . plus their
  willingness and ability to pay for it

 Marketing Concept
  ◦
  ◦
 Demand Creation
  ◦
  ◦



                          Prof. Rushen Chahal
          Discussion Outline
• What is Marketing?
  – Definition
  – Domain
• Alternative Conceptualizations
  – Marketing As Utility
  – Marketing as Demand Satisfaction
• The Marketing Environment
  – Marketing Mix
  – Targeting, Positioning, Segmentation

                    Prof. Rushen Chahal
    Environmental Scanning and Environmental
                  Management
 Environmental Scanning




 Environmental Management involves
  marketers’ efforts toward achieving
  organizational objectives by predicting and
  influencing the competitive, political-legal,
  economic, technological, and social-cultural
  environments.

                     Prof. Rushen Chahal
• The Marketing
  Environment
  and associated
  Marketing
  Strategy
  elements.




                   Prof. Rushen Chahal
                       Target Market


         Product             Distribution
                                                      •
                    Target
                    Market

        Promotion               Price




© PhotoDisc

                                Prof. Rushen Chahal
               Marketing Mix

                                               Blending the four
                                              strategy elements
                                              of marketing
Product              Distribution
                                              decision-making
                                              ◦   Product
            Target
            Market
                                              ◦   Price
                                              ◦   Distribution
Promotion
                                              ◦   Promotion
                        Price
                                               to satisfy chosen
                                              target markets

                        Prof. Rushen Chahal
                    Product Strategy
                                                      Deciding
                                                         – What goods or
                                                           services to offer
                                                         –
         Product             Distribution                – Package design
                                                         –
                    Target                               – Trademarks
                    Market
                                                         –
                                                         – Product Life Cycle
        Promotion               Price
                                                         –
                                                         – New – product
                                                           development

© PhotoDisc

                                Prof. Rushen Chahal
                    Distribution Strategy

                                                       Decisions about
                                                         – Modes of
                                                           transportation
         Product              Distribution
                                                         –
                     Target                              – Inventory
                     Market                                control
                                                         –
        Promotion                Price                   – Marketing
                                                           channels


© PhotoDisc

                                 Prof. Rushen Chahal
                   Promotional Strategy
                                                       Blending together
                                                        the various elements
                                                        of promotion to
                                                        communicate most
         Product             Distribution               effectively with the
                                                        target market.
                    Target
                    Market
                                                       Promotional
                                                        elements include
       Promotion                Price
                                                        advertising, sales
                                                        promotion, public
                                                        relations, and
                                                        personal selling.
© PhotoDisc

                                Prof. Rushen Chahal
              Pricing Strategy


        Product             Distribution
                                                      Deals with the
                                                       methods of
                   Target                              setting
                   Market                              profitable and
                                                       justifiable
                                                       prices
       Promotion              Price



© PhotoDisc

                               Prof. Rushen Chahal
• The Marketing
  Environment
  and associated
  Marketing
  Strategy
  elements.




                   Prof. Rushen Chahal

				
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posted:2/15/2012
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Description: Prof. Rushen's notes for MBA and BBA students