Introduction to Marketing

Jordan Holtzman

What is Marketing?

• Exchange process • Management process• Consumer-driven• The 4 P’s• Creating satisfied and loyal consumers• “Getting the right stuff to the right people.”

Marketing is NOT just…

• …“Advertising”• …“Selling”• …“getting inside the consumer’s head”• …”building a better mousetrap”• “art”• “science”

Marketing is Everywhere

• Business– For Profit– Not for Profit

• Politics• Science• Research• Religion

Some Marketing Vocabulary

• Needs vs. Wants• Marketing Offer• Market• Value• Value Proposition• Satisfaction

• Marketing System• Products• Services• Experiences• De-Marketing

A modern Marketing System

Avoiding Marketing Myopia

• When marketing is overly focused on product features instead of benefits and market trends– Examples• Music Downloads vs. CDs• Trains vs. Transportation

Good Marketing Managers avoid Marketing Myopia.

Old vs. New Marketing

The 4 P’s

• Product• Price• Promotion• Place

Not all customers are created equal

Question du Jour

Is the customer always right?