Core 6e Ch01ppt r1

Marketing: The Core 6e MGH
Slide 1-1
Sean M. Keyani MKT304; David Nazarian College of Business and Economics
LAUNCHING A NEW BILLION-DOLLAR
FOOD CATEGORYIN JUST SEVEN YEARS!
Developing
Chobanis Unique
Greek Yogurt
Reaching
Customers
Chobani Today
Chobani,
Marketing, Chobani
and You

Slide 1-2
Slide 1-3
WHAT IS MARKETING?
You Are a Marketing Expert Already
Involved in 1,000s of Buying Decisions
Involved in Some Selling Decisions
Marketing is NOT Easy

Slide 1-4
WHAT IS MARKETING?
Marketing and Your Career

Goal is to Do Marketing!
Small Businesses Offer Marketing Careers
You Too Could Start

a Successful
Business While in
College!

Slide 1-5
WHAT IS MARKETING?
DELIVERING BENEFITS
Marketing Seeks to:
Discover Needs and Wants of Customers

Satisfy Them
Exchange: Trade things of value

between buyer and seller so each is
better off
AMA Definition
of Marketing

Slide 1-6
WHAT IS MARKETING?
DIVERSE ELEMENTS INFLUENCE MARKETING ACTIONS
The Organization Itself and

Its Departments
Society
Environmental Forces

Slide 1-7
FIGURE 1-1 A marketing department relates to
many people, organizations, and
environmental forces

Slide 1-8
WHAT IS MARKETING?
REQUIREMENTS FOR MARKETING TO OCCUR
Two + Parties with

Unsatisfied Needs
A Desire and Ability

to be Satisfied
A Way for the Parties

to Communicate
Dominos
Something Pan Pizza
to Exchange
Slide 1-9
HOW MARKETING
DISCOVERS CONSUMER NEEDS
THE CHALLENGE: NEW PRODUCTS
Consumers May Not Know or Cannot

Describe What They Need or Want
Most New Products Fail
The Challenge:
Focus on the Consumer Benefit
Learn From Past Mistakes
Slide 1-10
Dr. Care Vanilla-Mint Aerosol Toothpaste
What are the benefits andshowstoppers?

Slide 1-11
StuffDOT
What are the benefits and showstoppers?
StuffDot

Slide 1-12
Life is Good
What are the benefits and showstoppers?

Slide 1-13
HOW MARKETING
NEEDS VS. WANTS
Need - VS. - Want
Does Marketing Persuade

People to Buy the
Wrong Things?
Market: People with desire and
ability to buy an offering
Slide 1-14
FIGURE 1-2 Marketing seeks to discover
consumer needs through research and then
satisfy them with a marketing program

Slide 1-15
HOW MARKETING
SATISFIES CONSUMER NEEDS
THE FOUR Ps
Target Market: Groups of

customers targeted by marketing
programs
Marketing Mix: Controllable Factors
Product Promotion
Price Place

Slide 1-16
HOW MARKETING
ENVIRONMENTAL FORCES
Customer Value Proposition:

Benefits promised to customers to
satisfy their needs
Environmental Forces:
Uncontrollable Factors
Social Competitive
Economic Regulatory
Technological
Slide 1-17
THE MARKETING PROGRAM
CUSTOMER VALUE
Customer Value: Benefits to the buyer

from the product/service
Value Strategies
Best Price Best Service
Best Product

Slide 1-18
Customer Value Strategy for US Bank

Slide 1-19
THE MARKETING PROGRAM
RELATIONSHIP MARKETING
Relationship Marketing
Easy to Understand
Hard to Do
Requires a Marketing
Program
Targeting Specific Market
Segments
Slide 1-20
3MS STRATEGY & MARKETING PROGRAM
DISCOVERING & STATISFYING STUDENT STUDY NEEDS
3M Post-it Notes
or
Post-it Flags +
Felt-tip
Markers =
3M product that
will combine
Post-it Notes or
Post-it Flags and
Highlighters
3M Highlighter

Slide 1-21
Move from Ideas to

a Marketable
Highlighter Product
Add the Post-it

Flag Pen
Develop a Marketing
Program for the 3M Video
Post-it Flag
Highlighter and Pen
Slide 1-22
FIGURE 1-3 Marketing programs for two new
3M Post-it brand products targeted at college
students and office workers

Slide 1-23
Developed Third
Generation Post-it
Flag Highlighter
Appeared on
The Oprah
Winfrey Show

Slide 1-24
HOW MARKETING BECAME IMPORTANT
EVOLUTION OF THE MARKET ORIENTATION
Marketing Concept: Idea that

organizations satisfy the
customers needs while achieving
organizations goals
Market Orientation: Focusing

efforts to collect and use
information to create
customer value

Slide 1-25
EVOLUTION OF THE MARKET ORIENTATION
Customer Relationship
Management (CRM)
Identify and develop offerings for buyers
Customer Experience
What Firms Think They Offer Customers
What Customers Say They Receive

Slide 1-26
ETHICS AND SOCIAL RESPONSIBILITY
Ethics: Not always

addressed with laws
Social Responsibility: To
Broader Community
Societal Marketing Concept
Meet customer needs
Provide for societys well-being

Slide 1-27
BREADTH AND DEPTH OF MARKETING
Who Markets?
Everyone!
What Is Marketed?
Everything!
Products Ideas Services

(Goods)
Museum
Video

Slide 1-28
BREADTH AND DEPTH OF MARKETING
Who Buys & Uses What Is Marketed?

Ultimate Consumers
Organizational Buyers
Who Benefits? Consumers,
organizations, and society
How Do Consumers Benefit?
Form Utility Time Utility
Place Utility Possession Utility
Slide 1-29
Marketing
Marketing is the activity for

creating, communicating,
delivering, and exchanging
offerings that benefit its
customers, the organization, its
stakeholders, and society.

Slide 1-30
Exchange
Exchange is the trade of things

of value between a buyer and a
seller so that each is better off.

Slide 1-31
Market
A market consists of people with

both the desire and the ability to
buy a specific offering.

Slide 1-32
Target Market
A target market consists of

one or more specific groups of
potential consumers toward
which an organization directs its
marketing program.

Slide 1-33
Marketing Mix
The marketing mix consists of

the marketing managers
controllable factorsproduct,
price, promotion, and placethat
can be used to solve a marketing
problem.

Slide 1-34
Customer Value Proposition
Customer value proposition is

the cluster of benefits that an
organization promises customers
to satisfy their needs.

Slide 1-35
Environmental Forces
Environmental forces consist of

the uncontrollable forces of social,
economic, technological,
competitive, and regulatory forces
that affect the results of a
marketing decision.

Slide 1-36
Customer Value
Customer value is the unique

combination of benefits received
by buyers, including quality,
convenience, on-time delivery,
and before- and after-sale service
at a
specific price.

Slide 1-37
Relationship Marketing
Relationship marketing links

the organization to its individual
customers, employees, suppliers,
and other partners for their
mutual long-term benefit.

Slide 1-38
Marketing Program
A marketing program is a plan

that integrates the marketing mix
to provide a good, service, or idea
to prospective buyers.

Slide 1-39
Market Segments
Market segments are the

relatively homogeneous groups
of prospective buyers that
(1) have common needs and
(2) will respond similarly to a
marketing action.

Slide 1-40
Marketing Concept
A marketing concept is the

idea that an organization should
(1) strive to satisfy the needs of
consumers (2) while also trying to
achieve the organizations goals.

Slide 1-41
Market Orientation
A market orientation occurs when

an organization focuses its efforts to
collect and use information about
customers needs to create
customer value.

Slide 1-42
Societal Marketing Concept
Societal marketing concept is

the view that organizations should
satisfy the needs of consumers in
a way that also provides for
societys well-being.

Slide 1-43
Product
A product is a good, service, or

idea consisting of a bundle of
tangible and intangible attributes
that satisfies consumers needs
and is received in exchange for
money or something else of value.

Slide 1-44
Ultimate Consumers
Ultimate consumers consist of

the people who use the products
and services purchased for a
household. (Also called
consumers, buyers, or
customers.)

Slide 1-45
Organizational Buyers
Organizational buyers are

manufacturers, wholesalers,
retailers, and government
agencies that buy products and
services for their own use or for
resale.

Slide 1-46
Utility
Utility consists of the benefits or

customer value received by users
of the product.

Slide 1-47

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Marketing: The Core 6e MGH

Marketing: The Core 6e MGH

You Are a Marketing Expert Already

Involved in 1,000s of Buying Decisions

Involved in Some Selling Decisions

Marketing is NOT Easy

Marketing: The Core 6e MGH

Marketing and Your Career

Small Businesses Offer Marketing Careers

You Too Could Start

Marketing: The Core 6e MGH

Marketing Seeks to:

Discover Needs and Wants of Customers

Exchange: Trade things of value

Marketing: The Core 6e MGH

The Organization Itself and

Marketing: The Core 6e MGH

Marketing: The Core 6e MGH

Two + Parties with

A Desire and Ability

A Way for the Parties

Consumers May Not Know or Cannot

Most New Products Fail

Marketing: The Core 6e MGH

Marketing: The Core 6e MGH

Marketing: The Core 6e MGH

Need - VS. - Want

Does Marketing Persuade

Marketing: The Core 6e MGH

Target Market: Groups of

Marketing: The Core 6e MGH

Customer Value Proposition:

Customer Value: Benefits to the buyer

Best Price Best Service

Marketing: The Core 6e MGH

Marketing: The Core 6e MGH

Marketing: The Core 6e MGH

Move from Ideas to

Add the Post-it

Marketing: The Core 6e MGH

Marketing: The Core 6e MGH

Marketing Concept: Idea that

Market Orientation: Focusing

Marketing: The Core 6e MGH

What Customers Say They Receive

Marketing: The Core 6e MGH

Ethics: Not always

Marketing: The Core 6e MGH

Products Ideas Services

Marketing: The Core 6e MGH

Who Buys & Uses What Is Marketed?

Marketing is the activity for

Marketing: The Core 6e MGH

Exchange is the trade of things

Marketing: The Core 6e MGH

A market consists of people with

Marketing: The Core 6e MGH

A target market consists of

Marketing: The Core 6e MGH

The marketing mix consists of

Marketing: The Core 6e MGH

Customer value proposition is

Marketing: The Core 6e MGH

Environmental forces consist of