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Class Methodology

Lecture/Presentation
Video and Discussion
Case studies
Marks
1.
2.
3.
4.

Class discussion
Presentation /Assignments
Project
Quiz

 100 Marketing Tag Lines/Slogans

100 Advertisements

Marketing
st
for the 21 Century

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.

What is Marketing
Management?
Marketing management is the

art and science

of choosing target markets
and getting, keeping, and growing
customers through
creating, delivering, and communicating
superior customer value.
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Selling is only the tip of the iceberg

There will always be a need for
some selling. But the aim of marketing is to
make selling superfluous. The aim of marketing
is to know and understand the customer so well
that the product or service fits him and sells
itself. Ideally, marketing should result in a
customer who is ready to buy. All that should be
needed is to make the product or service
available.
Peter Drucker

What is Marketed?
Goods
Goods
Services
Services
Events
Events && Experiences
Experiences
Persons
Persons
Places
Places && Properties
Properties
Organizations
Organizations
Information
Information
Ideas
Ideas
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Marketing Can
Promote Ideas

A Simple Marketing System

A.K.A. The Exchange
Process

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Structure of Flows in a
Modern Exchange Economy

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For an exchange to
occur.
There are at least two parties.
Each party has something that might be of
value to the other party.
Each party is capable of communication
and delivery.
Each party is free to reject the exchange
offer.
Each party believes it is appropriate or
desirable to deal with the other party.
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Core Marketing
Concepts
Needs, wants, and
demands
Target markets,
positioning,
Segmentation
Offerings and
brands

Value and
satisfaction
Marketing channels
Supply chain
Competition
Marketing
environment

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Maslows Hierarchy of Needs

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1. Needs - states of felt

deprivation including
physical needs for food,
social needs for belonging
and individual needs for selfexpression. i.e. I am
thirsty. 2. Wants - form that a
human need takes as
shaped by culture and
individual personality. i.e. I
want a Coca-Cola/Pizza.
3. Demands - human wants
backed by buying power. i.e. I
have money to buy a CocaCola/Pizza
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New Consumer
Capabilities
A substantial increase in buying power
A greater variety of available goods and
services
A great amount of information about
practically anything
Greater ease in interacting and placing
and receiving orders
An ability to compare notes on products
and services
An amplified voice to influence public
opinion
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Company Orientations

Production

Product

Selling

Marketing

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Holistic Marketing Dimensions

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The Four Ps

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Internal Marketing
Internal marketing is the
task of hiring, training, and
motivating able employees
who want to serve customers
well.

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Performance Marketing
Social Initiatives

Financial
Accountability
Social Responsibility
Marketing

Corporate social
marketing
Cause marketing
Corporate philanthropy
Corporate community
involvement
Socially responsible
business practices

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Marketing Management
Tasks

Develop market strategies and plans

Capture marketing insights
Connect with customers
Build strong brands
Shape market offerings
Deliver value
Communicate value
Create long-term growth
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Levels of a Marketing Plan

Strategic
Target
marketing
decisions
Value
proposition
Analysis of
marketing
opportunities

Tactical
Product
features
Promotion
Merchandising
Pricing
Sales channels
Service
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Product-Market Expansion
Grid

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The Business Unit

Strategic Planning
Process

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Organizational Charts

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Marketing Debate:
Take a Position!
Does marketing shape consumer
needs?
or
Does marketing merely reflect the
needs and wants of consumers?

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28

Three Vs Approach to Marketing

Define
Define the
the value
value segment
segment

Define
Define the
the value
value proposition
proposition

Define
Define the
the value
value network
network

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What is the Value Chain?

The value chain is a tool for
identifying ways to create more
customer value because every firm
is a synthesis of primary and support
activities performed to design, produce,
market, deliver, and support its product.

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Porters Value Chain

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Model of Consumer Behavior

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Key Psychological Processes

Motivation

Perception

Learning

Memory

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Motivation

Freuds
Theory

Maslows
Hierarchy
of Needs

Herzbergs
Two-Factor
Theory

Behavior
is guided by
subconscious
motivations

Behavior
is driven by
lowest,
unmet need

Behavior is
guided by
motivating
and hygiene
factors
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Maslows Hierarchy of Needs

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Successive Sets Involved in

Consumer Decision Making

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How Customers Use and

Dispose of Products

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Behavioral Segmentation Breakdown

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Five Forces Determining Segment

Structural Attractiveness

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