Review: section 1 & 2

Unit purpose & structure Brief revisit section 1& 2 Provide a preview of section 3 & expand

our mental picture Introduce Design thinking Blue ocean thinking

Directions

Let’s have a brief review of sections 1 & 2

Then we will preview section 3 [application]

the marketing concept

Central to understanding marketing is an understanding of

the marketing concept

Because it is overarching think of it as a giga-concept

1. the buyer decision process2. the total product 3. the circle of satisfaction

many X milli-marketing concepts

© Dr. Stephen Fanning

1 X giga-marketing concept

3 X mega-marketing concepts

Organisation adopts the marketing concept

Designs and develops a unique marketing philosophy

Considers the prevailing situational factors [COMP]

Nurtures an organisational culture

The quest to better serve the customerThe quest to overcome the challenges facing societyThe quest for better use [application] of existing resourcesThe quest for more effective distribution of: o information, products, & people

Organisations adopt one of 3 business concepts

However, it is not uncommon to have elements of other business concepts

1

2

3

Marketing concept

PhilosophyDefinition

Evolution

Objectives

Buyer decision process

Total product concept

Communicating

Positioning

Circle of satisfaction

Controlling

Theory

Application

Unit structure

✔✔

[-] [+]expectations

delivered

Purchase behaviour Product delivery Post purchase

Searching, estimating & selecting Reflecting & evaluating

financial3 strategic3 communication3

Marketing objectives3

costs3

risks/qualities8

Values1

situational factors4

[COMP]

The marketing concept – best satisfy2

qualities

value2

costs

expectations

satisfaction

cumulative sat.

trust

loyalty

collective satisfaction

trust & loyalty

exit

1 2 3

need

product selectioncore

expected

augmented

Brand equity

P. considerations

iterative

goods services

experiences

ideas people

place

Experiencing & assessing

potential

B. considerationsCLV

© Dr. Stephen Fanning

Now that we have studied the philosophy & theory

sections we need to apply our knowledge

Good idea

In section 3 we will integrate 2 contemporary ‘ideas’design thinking and blue ocean thinking

empathise define ideate prototype test

A design thinking approach5 interactive tasks

empathise define ideate prototype test

A design thinking approach5 interactive tasks

Empathise: this is about understanding, through asking, listening, & observing what

are the needs of the people I am designing this product for Define: this is about defining the problem from the perspective of the recipient

Ideate: this is about brainstorming and creating a mind map of all ideas

Prototype: this is about designing and creating a prototype that can be tested to

provide feedback Test: this is about returning to the target market and testing the product to

gain feedback and feedforward

A blue ocean thinking approach

Challenges marketing practitioners to seek out uncontested markets and avoid crowded markets

[+ purple and red oceans]

Communication PlanAttractRetain

Enahance

Marketing Audit[COMP]

Articulate position

Marketingplan

Marketingaction plans

Corrective actions

Organisation’sphilosophy

Organisation’sobjectives priorities &

budget

EVALUATE

IMPLEMENT

ANALYSE

DESIGN

1

Evaluateperformance

Analysedata

Implementaction plans

COLLECT

DEVELOP

Businessplans