AN OVERVIEW OF MARKETING

MARKET PLANNING UNITENDURING UNDERSTANDING

STUDENTS WILL UNDERSTAND THAT…….

Marketing is customer focused.Marketing is much more than

advertising and selling.A marketing plan is a roadmap for

all companies' business efforts.

ESSENTIAL QUESTIONS • What is marketing?• How do marketers find their

customers?• What makes marketing

dynamic?• What causes a business to

"close its doors"?

WHAT IS MARKETING?

• A Philosophy

• An Attitude

• A Perspective

• A Management Orientation

A Set of Activities

Financing

Selling

Distribution

Promotion

Pricing

Marketing Information Management

Product Service Management

WHAT IS MARKETING?

Marketing is an organizational function and a set of processes for creating,

communicating, and delivering value to customers and for managing customer relationships in ways that benefit the

organization and its stakeholders.

American Marketing Association Definition

WHAT IS MARKETING?

Product

Price

Place

Promo

tion

ExchangeExchangeA BA B

CreatingValueCustomer value

and beneficial relationships

Customer valueand beneficial relationships

WHY STUDY MARKETING?

Describe several

reasons for studying

marketing

REASONS FOR STUDYING MARKETING

Why Study Marketing?Why Study Marketing?

Importantto

Society

Importantto

Society

Importantto

Business

Importantto

Business

GoodCareer

Opportunities

GoodCareer

Opportunities

+Marketing affects you every day!

MARKETING MANAGEMENT PHILOSOPHIES

Describe four marketing

management philosophies

MARKETING MANAGEMENT PHILOSOPHIES

Sales1930 -1940’s

Market1950-1970

Societal1980 to present

Production1900-1920’s internal capabilities of the firm. Emphasis on

producing and distributing new products

satisfying customer needs and wants while meeting objectives

satisfying customer needs and wants while enhancing individual and societal well-being

aggressive sales techniques and belief that high sales result in high profits

Orientation Focus is on…

MARKET ORIENTATION

Marketing Concept:

The idea that the social and economic justification for an organization’s existence is the satisfaction of customer wants and needs while meeting organizational objectives

THE MARKETING CONCEPT Focusing on customer wants and needs to distinguish products from competitors’ offerings

Integrating all the organization’s activities to satisfy these wants

Achieving the organization’s long-term goals by satisfying customer wants and needs legally and responsibly

School bag activity

ACHIEVING A MARKETING ORIENTATION Obtain information about customers,

competitors, and markets

Examine the information from a total business perspective

Determine how to deliver superior customer value

Implement actions to provide value to customers

FAILURE TO SUCCESS

HOW SHOULD A BUSINESS BE DEFINED?Company Product-

Oriented Answer

Market-Oriented Answer

Kodak We make cameras

We help preserve memories

Verizon We sell cell phones

Coke We make soda

Levi We make jeans

Nike We design athletic shoes

Lexus We build cars

McDonald’s We sell fast food

AVOIDING MARKETING MYOPIA

Marketing myopia—Focusing on products/company rather than the customer. Results in failure to see and adjust to the rapid market changes.

An organization exists not only to satisfy customer wants but also to preserve or enhance individuals’ and society’s long-term best interests.

•Less toxic products

•More durable products

•Products with reusable or recyclable materials

SOCIETAL MARKETING

SocietalMarketingOrientatio

n

Method video

The Body Shop - Values and Campaigns

BUILDING RELATIONSHIPS

A strategy that focuses on keeping and improving

Relationships with current customers.

Relationship

Marketing

BUILDING RELATIONSHIPS

Customer-oriented personnel

Employee training programs

Empowered employees

TeamworkZappos

YouTube - The Zappos Family on Nightline

DEFINING A FIRM’S BUSINESS

Use “Use “customer benefitscustomer benefits” instead of ” instead of ““goods/servicesgoods/services””

--Ensures a customer focus-Encourages innovation and creativity-Stimulates an awareness of changes

in customer preferences

THE FOUR MARKETING MANAGEMENT PHILOSOPHIES

Production

Sales

Marketing

Societal

What can we make or do best?

How can we sell more aggressively?

What do customerswant and need?

What do customers want and need, and how can we benefit

society?

Orientation Focus

Societal Marketing AssignmentHandout

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