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Day 1
BUS 222
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Copyright 2005 Prentice Hall Ch 1 -2
Agenda
• Class roll call• Instructor Introduction• Syllabus review• Instructor’s Educational Philosophy • Web Resources• General Information about class• Blackboard• A quick overview of marketing
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Copyright 2005 Prentice Hall Ch 1 -3
Instructor
• Tony Gauvin– Associate Professor of E-Commerce– 216 Nadeau Hall– (207) 834-7519 or Extension 7519– [email protected]
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Copyright 2005 Prentice Hall Ch 1 -4
Instructional Philosophy
• Out-Come based education• Would rather discuss than lecture
– Requires student preparation
• Hate grading assignments– Especially LATE assignments
• Use class interaction, assignments, exams and Marketing Plan to determine if outcomes are met.
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Copyright 2005 Prentice Hall Ch 1 -5
Web Resources
• Blackboard https://www.courses.maine.edu
• Instructor’s Web Sitehttp://perleybrook.umfk.maine.edu
• Textbook WebSite –
http://highered.mcgraw-hill.com/sites/0078028833/student_view0/
• Authors’ Blog – http://grewallevymarketing.com/
• Know This– http://www.knowthis.com/principles-of-marketing-tutori
als/
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Copyright 2005 Prentice Hall Ch 1 -6
Resource Review
• Blackboard• Syllabus• Contract for Classroom behavior
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• 1947 HD FLH “knucklehead”• 2012 Audi R8• 1950 Buick RoadMaster
– Convertible or Sedanette
• 1955 Buick Special • 1967 SS 396 El Camino• 1970 Oldsmobile 442 (W-30 option)• 1965 Shelby Cobra S/C 427 • 1995 Ferrari 348 Spyder• 2006 Dodge Viper SRT • Current Collection
Bribe List (2013)
Copyright 2005 Prentice Hall Ch 1 -7
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What is marketing?
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OVERVIEW OF MARKETING
01
McGraw-Hill/Irwin Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved.
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LEARNING OBJECTIVES
Overview of Marketing
LO1 Define the role of marketing in organizations.
LO2 List the elements of the marketing mix.
LO3 Describe how marketers create value for a product or service.
LO4 Understand why marketing is important both within and outside the firm.
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Apple
How does this company provide value?
How does this company provide value?
Ryan
An
son
/AFP
Gett
y Im
ag
es
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What is Marketing?
Marketing is an organizational function and a set of processes for creating, capturing, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.
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What is value?
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What is Marketing?
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Marketing is about Satisfying Customer Needs and Wants
• What group is Crest targeting with this ad?
• What other benefits of toothpaste might Crest advertise?
• What groups might these benefits appeal to? ©Procter & Gamble
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Marketing Entails an Exchange
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Marketing Requires Product, Price, Place, and Promotion
Decisions
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Product: Creating Value
• The fundamental purpose of Marketing is to create value by developing a variety of offerings, including goods, services, and ideas, to satisfy customer needs.
Royalty-Free/Corbis
Roz Wodward/Getty Images
Flying Colours Ltd./Getty Images
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Price: Capturing Value
• Price is everything a buyer gives up (money, time, energy) in exchange for the product
• The key to determining prices is to figure out how much customers are willing to pay and assess whether a profit can be made at that point
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Place: Delivering the Value Proposition
• Place, or supply chain management, describes all activities necessary to get the product to the right customer when the customer wants it
• Where would you find this product in the store? Courtesy Horizon Organic Dairy
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Superior Service: AT&T?
Courtesy AT&T; Agency: BBDO/Atlanta; Artist: Guido Daniele; Photographer: Andric
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Luxury Hotels
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Promotion: Communicating Value
• Promotion is communication by a marketer that informs, persuades, and reminds potential buyers about a product or service to influence their opinions or elicit a response
Photo by Paul Hawthorne/Getty Images
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Marketing Can be Performed by Individuals and Organizations
ETSY Website
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Marketing Impacts Stakeholders
Courtesy National Fluid Milk Processor Promotion Board; Agency: Lowe Worldwide, Inc.
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Marketing Helps Create Value
1. H.Armstrong Roberts/Retrofile/Getty Images 2. Jamie Grill/Iconica/Getty Images 3. ©Ted Dayton Photography/Beateworks/Corbis4. Ciaran Griffin/Stockbyte/Getty Images 5. ©Colin Anderson/Blend Images/Corbis
1 2 3 4 5
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Value-Based Marketing
“Pure Dark Chocolate
Light Exquisite Cookie”
“Pure Dark Chocolate
Light Exquisite Cookie”
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Check Yourself
1. What is the definition of marketing?
2. Marketing is about satisfying ______ and ______ .
3. What are the four components of the marketing mix?
4. Who can perform marketing?
5. What are the various eras of marketing?
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Value Driven Companies
• Share information across their organization
• Balance customer’s benefits and costs
• Build relationships with customers
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Companies that Put the Customer First
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Value Based Marketing
Photo by Christopher Peterson/BuzzFoto/FilmMagic/Getty Images
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Target is Value Driven
Target Commercial
©Lars A. Niki
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Check Yourself
1. Does providing a good value mean selling at a low price?
2. What type of relationship is best for providing value to customers?
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Why Is Marketing Important?
Dig
ital V
isio
n/G
ett
y
Imag
es
Jaso
n R
eed
/Gett
y
Imag
es
©Ed
ward
R
ozz
o/C
orb
is
And
rew
Ward
/Lif
e
File
/Gett
y Im
ag
es
©
Roy M
cMahon/C
orb
is
BananaS
tock
/Ju
pit
erI
mag
es
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Marketing and SocietyFocusing on many factors
©M. Hruby
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Marketing Enriches Society
Oprah's Angel Network
Photo by Thomas Cooper/Getty Images
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Marketing Can Be Entrepreneurial
Ben & Jerry’s Website
Ben & Jerry’s Commercial
Ben & Jerry’s Product MissionTo make, distribute, and sell the finest quality all natural ice cream and euphoric concoctions with a continued commitment to incorporating wholesome natural ingredients and promoting business practices that respect the Earth and the Environment
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Check Yourself
1. List five factors that emphasize the importance of marketing.
2. A firm doing the right thing emphasizes the importance of marketing to society