What is marketing.ppt@ mba
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Transcript of What is marketing.ppt@ mba
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What is Marketing
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Discussion Questions
What is marketing? What can marketers market? What types of decisions do marketers
make?
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Marketing and Exchange
Marketing is an exchange between a firm and customer
CompanyCompany
CustomerCustomerThe customer seeks benefits from the
company,and expects to pay.
The company offers benefits to its
customers,and seeks profits.
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Discussion Questions
Why might an exchange NOT occur? What is the long term benefit to having
satisfaction in an exchange?
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What Can We Market?
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What Can We Market?
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Orientations
Product/Production Build a better mousetrap
Selling Orientation Let’s make a Deal
Marketing/Customer Building relationships with the customer
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Discussion Question
Assume you are marketing pens. Can you describe how you would market under a product orientation compared to a customer orientation?
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Marketing IS the Business
Marketing should permeate the entire organization
Chief Marketing Officers (CMO) need to show results Quantify results when possible
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Marketing Framework
Start with a Situational Analysis using the 5Cs
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Marketing Framework
Customers Who are they? What are they like? Do we want to draw different customers?
Company What are our strengths and weaknesses? What customer benefits can we provide?
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Marketing Framework
Context What is happening in our industry that might
reshape our future business?
Collaborators Can we address our customers’ needs while
strengthening our B2B partnerships?
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Marketing Framework
Competitors Who are the competitors we must consider? What are their likely actions and reactions?
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Marketing Framework
Proceed to Strategic Marketing Planning with STP
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Marketing Framework
Segmentation Customers aren’t all the same; they vary in their
preferences, needs, and resources Targeting
Attracting some of those customers makes better sense than going after others
Positioning Communicate your benefits clearly to your
intended customers
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Marketing Framework
Advance to Marketing Tactics with the 4Ps
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Marketing Framework
Product Will customers want what your company is
prepared to produce?
Price Will customers pay what you’d like to charge?
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Marketing Framework
Place Where and how will customers purchase your
market offering?
Promotion What can you tell your customers or do for them
to entice them to purchase?
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Framework Considerations
5 Cs, STP and 4 Ps are interdependent Marketers must understand how one decision
impacts other decisions
The 5 Cs are in flux Marketers must consistently monitor and adjust
strategy accordingly
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Discussion Question
How can one judge whether or not marketers made the “right” decisions?
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Types of Shopping
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Types of Shopping
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Purchase Decision Making
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Models for How Buyers Decide
Lexicographic method Compare brands by most important attribute;
brands that make the cut go into consideration set; then compare on next important attribute, etc.
Average method One attribute can’t make or break a brand
Use attribute importance Assists with segmentation
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B2B Customers
Classifications Installations Accessories Raw materials Components Business services
Most important classification is whether a business cares about a purchase
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B2B Customers
More complex decision making due to different roles within a business: Initiators Users Influencers Buyers
Each role may sleek slightly different attributes
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This Book…
Assumes global customers Assumes omnipresence of the Internet Gives fresh, fun examples Trains you to think like a marketer Defines terms as necessary Offers lists of factors to consider Gives “how to” guidance when feasible
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This Book…
Each chapter opens with the Marketing Framework to maintain a focus on the big picture while also highlighting key concepts and tools about to be covered.
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This Book…
Begins each chapter with coverage of “What” is the topic and “Why” it should matter to you
Every chapter then addresses the question of “How do I do this successfully?”
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Book Layout