Welcome to MKTG Lars Perner

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					                   Welcome to MKTG 370:
                   Marketing!
                                  Course objectives and
                                   philosophy
                                  About the Instructor
                                  Course logistics
                                      Text and supplements
                                      Assignments and exams
                                      Policies
                                  What is marketing?
                                  Meeting consumer needs
                                   and wants
                                  Some topics we will cover
                                   this quarter...

MKTG 370
Lars Perner, Instructor
Introduction
                   Course Objectives
                         Understand:
                             the role of marketing in firms that function in an
                              increasingly global and competitive market;
                             basic concepts and terms used in marketing;
                             the advantages, disadvantages, opportunities, and
                              tradeoffs involved in different marketing strategies and
                              choices;
                         Develop knowledge and tools necessary to
                          design and implement effective marketing
                          programs;
                         Appreciate ethical implications of marketing
                          decisions; and
                         Appreciate the dual roles of formal analysis and
                          creativity in designing and implementing
MKTG 370
Lars Perner, Instructor
                          effective marketing programs.
Introduction
                   Course Philosophy
                         Application to
                          needs of real firms
                          rather than
                          memorization
                         Broad overview of
                          marketing
                         Assignments
                          require individual
                          initiative and
                          thinking
MKTG 370
Lars Perner, Instructor
Introduction
                   About the Instructor: Lars Perner
                         Ph.D., University of Southern California
                         Research interests: Consumer behavior,
                          international marketing, price
                         Teaching experience
                             Institutions: U.C.Riverside, USC, U. of
                              Maryland, George Washington U., Cal State LA,
                              Loyola Marymount
                             Courses: Intro Marketing, Consumer Behavior,
                              International Marketing, Marketing Strategy,
                              Intro to International Business,
                              Channels/Distribution
MKTG 370                 Country of birth: Denmark
Lars Perner, Instructor
Introduction
                   Warning!
                                 Beware of relying
                                  on PowerPoint
                                  printouts!
                                 Psychological
                                  research shows
                                  that
                                  comprehension
                                  and memory suffer
                                  if you do not take
                                  notes in your own
                                  hand.
MKTG 370
Lars Perner, Instructor
Introduction
                   Assignments
                         Must complete at              See instructions
                          least 4/6:                     for each in
                             Consumer Behavior          syllabus
                             International             Have fun!
                              Marketing
                             Segmentation--
                              ”Diff’rent strokes
                              for diff’rent folks”
                             Product
                             Distribution
                             Pricing
MKTG 370
Lars Perner, Instructor
Introduction
                   Why does Tony the Tiger wear a
                   scarf?




MKTG 370
Lars Perner, Instructor
Introduction
                   Some Topics Covered This
                   Quarter...
                         The Marketing           The 4 Ps of
                          Environment              Marketing:
                         Strategic Planning          Product:
                                                       Strategies,
                         Consumer                     designs,
                          Behavior                     introduction, life
                         International                cycle issues
                          Marketing                   Distribution
                                                       (“Place”)
                         Segmentation,
                                                      Promotion--
                          Targeting, and               advertising, price
                          Positioning                  promotion, and
MKTG 370                                               much more
Lars Perner, Instructor
Introduction                                          Pricing
                   Marketing--What Is It?

                         Scope of
                          marketing
                         Marketing tools
                         Reasons for
                          studying
                          marketing
                         The Marketing
                          Concept vs. the
                          Selling Concept

MKTG 370
Lars Perner, Instructor
Introduction
                   Definition
                             Marketing: “The (1) process of (2)
                              planning and (3) executing the (4)
                              conception, (5) pricing, (6)
                              promotion, and (7) distribution of
                              (8) ideas, (9) goods, and (10)
                              services to create (11) exchanges
                              that (12) satisfy (13) individual and
                              (14) organizational (15)
                              objectives.” (American Marketing
                              Association “official” definition
                              [numbering added].)



MKTG 370
Lars Perner, Instructor
Introduction
                   The Reality of Marketing

                         Matching consumer needs with
                          suppliers
                         Providing value to customers—e.g.,
                             Lower prices (e.g., auto insurance)
                             Reliability/consistency
                             Extra services (e.g., dry cleaning
                              picked up and delivered; mobile
                              mechanic; online banking)
                             Special segment need
MKTG 370
Lars Perner, Instructor
Introduction
                   Requirements for Marketing to
                   Occur
                         2+ parties
                             with unsatisfied needs
                         Desire and ability to
                          satisfy these needs
                         A way to communicate
                         Something to exchange




MKTG 370
Lars Perner, Instructor
Introduction
                   The Marketing Concept

                                  Focus on finding (or
                                   creating) consumer
                                   needs and satisfying
                                   them--not
                                      just producing--no
                                       guarantee that anyone will
                                       buy
                                      aggressive selling--there
                                       is too much competition
                                       around


MKTG 370
Lars Perner, Instructor
Introduction
                   Contrasting Selling and Marketing
                   Concepts
            Philosophy Emphasis                     Example


            Sales         Maximize sales of       Steep discounts on cars
                          present product by      in “bad” times;
                          whatever means          railroads cutting prices
                          needed (e.g., price     rather than focusing on
                          cuts, aggressive sales) ultimate customer
                                                  need; “hard” selling by
                                                  contractors
            Marketing     Determine and satisfy Ford developing Taurus
                          consumer need           from scratch;
                          whether this is         Southwest Airlines
                          consistent with         serving untapped
                          current product line or segment
MKTG 370
                          not
Lars Perner, Instructor
Introduction
                   Consumer Needs and Wants
                                     Need: Based on
                                      perceived
                                      physiological
                                      deprivation.
                                     Want: Felt need
                                      based on person’s
                                      culture,
                                      personality, and
                                      knowledge.


MKTG 370
Lars Perner, Instructor
Introduction
                   Creating Consumer Utility
                         Form utility—           Time utility—
                          transformation of        making product
                          raw materials into       available when
                          products                 needed
                         Place utility—          Possession utility—
                          making product           access to a large
                          conveniently             assortment of
                          available                products



MKTG 370
Lars Perner, Instructor
Introduction
                   Marketing Opportunities

                         Products
                             For consumers
                             For businesses
                         Services
                             For business
                             For consumers
                         Social objectives: Ideas, practices,
                          knowledge

MKTG 370
Lars Perner, Instructor
Introduction
                   Making and Delivering Value
                              MAKING MARKETING VALUE DECISIONS



                          UNDERSTANDING CONSUMERS’ VALUES AND NEEDS



                                CREATING THE VALUE PROPOSITION



                            COMMUNICATING THE VALUE PROPOSITION



                               DELIVERING THE VALUE PROPOSITION
MKTG 370
Lars Perner, Instructor
Introduction
                   Satisfying Consumer Needs: Controllable
                   and Uncontrollable Factors

                         Controllables: The        Uncontrollables:
                          4Ps                        Environmental
                             Product                factors
                             Price                     Social
                             Promotion                 Economic
                             Place                     Technological
                         May be                        Competitive
                          controllable only in          Regulatory
                          the medium to
                          long run
MKTG 370
Lars Perner, Instructor
Introduction

				
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