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Marketing

Week 1 - Module 1.1


Marketing in Context
Topics

What is Marketing
Perspectives on Marketing
Understanding Markets and Consumers
Types of Markets
Consumer Motivation – needs & wants

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Learning Facilitator Irene Chumak
Tonight’s Agenda
• Welcome & Introductions
– Hand in student information sheet – sent to you via email
– Self introductions – over next 2 to 3 weeks

• General Issues
– How class will work (12 week course)
– Assessments – Overview & Introduction to Assessment 1
– Other Matters/ Questions

• Module 1 Topics & Class Activity

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Preliminary Schedule Marketing T3 2018 –Lecture Week, Modules & Topics

Week 2 Week 3 Week 4


Week 1 Wednesday 26 Sept Wednesday 3 Oct Wednesday 10 Oct
Wednesday 19 Sept Module 1.2 Module 2.1 Module 2.2
Module 1.1 Marketing in Context 2 Marketing Context & Marketing Strategy 2
Industry Analysis Strategy 1 ( Analysis for Strategy Development
Marketing in Context Mapping Growth Options
Understanding Macro (Company Analysis,
Environment Forces Understanding Consumers The Marketing Plan &
Understanding Competitors Business Report Writing

Week 5 Week 6 Week 7


Wednesday 24 Oct Wednesday 31 Oct Week 8
Wednesday 17 Oct Wednesday 7 Nov
Module 3.1 Module 3.2 Module 4.1
Positioning /Introduction to Products and Services Module 4.2
Consumer Segmentation
Branding /Introduction to Branding 2 Promotion = IMC
& Targeting
Marketing Mix Elements Pricing & Value Place = Distribution
Introduction to the
- Assessment 1 Due Sunday 28
Marketing Mix October 11.30pm
-

Week 9 Week 10 Week 12


Week 11
Wednesday 14 Nov Wednesday 5 December
Wednesday 21 Nov Wednesday 28 Nov
Module 5.1 Module 5.2 Module 6.2
Module 6.1 Group Presentations
Physical Evidence Social & Environmentally Finish Sustainable Marketing
People Future of Marketing
Responsible Marketing Market Research
Process The Art & Skills of Presenting
Assessment 2 Due Assessment 3 Presentation Due
Sunday 25 November 11.30pm
Course Landing Page - Home

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Course Landing Page – Lecturer Area

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Additional Resource For The Course

Refer to Lecturer Area


– pdf version of the txt
book is at the bottom of
the page.....

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Resource – reference for this Topic

Refer to Module1 notes


and Chapter 1 of txt
book (in Lecturer Area)

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Your Perception of Marketing

Before we start going


down the marketing
rabbit hole, lets explore
what your perception of
marketing is – what do
you currently think
marketing is about?

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The Starting Point - What is Marketing?

Popular understanding of marketing


– It is promotion & advertising of .....
– ‘Something to help sell’ ...

That’s not the full story!

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The Starting Point - What is Marketing?

• Way of understanding how markets ‘work’ -


what is necessary to stimulate & manage
response from consumers or the market –
both now & in the future

• Mindset, an orientation i.e. organisation


focuses on a client or customers interests &
external opportunities, while meeting the
organisations objectives e.g. profit
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A Marketing Orientation Involves....

• Understanding people & markets ..


considering the customer i.e. customer
focused

• Identifying potential customers & what their


needs & wants are

• Matching the organisation’s goals,


competencies & resources with the relevant
customer’s interests .. an exchange
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A Marketing Orientation Involves....

• Thinking strategically, planning


& implementing outcomes

• Using frameworks & models of


markets & consumers behaviour
based on research & science..
psychology, economics, statistics,
sociology

• Generating or managing
consumer demand with a set
of controllable, tactical tools...
The 7P’s
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A Marketing Orientation Involves....
Managing the way that an organisation ‘interacts’ with its market/ customers
7P (Extended) Marketing Mix
• Product and/
or Service

• Price and
Terms
Understanding • Place
Customers, (Access/
Market Place Matching Availability) Customer
& its • Promotion
Satisfaction
Opportunities and Selling

People

Process

Physical
Environment

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Marketing Framework

5C’s STP 7P’s= Marketing Mix


• Context • Segmentation • Product (incl Branding)
• Consumer • Targeting • Price
• Place
• Company • Positioning
• Promotion (IMC)
• Competitors
• People
• Collaborators • Physical Evidence
• Process

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Assessments – General Overview

There are 3 assessments:


Assessment 1 (40%)
The first requires student (individual) to prepare Part 1 of a marketing plan –
marketing environment analysis – sometimes called a situational analysis for a
small – medium business in Australia, which is looking to grow its business. Due
end of Week 6

Assessment 2 (40%)
The second assessment (individual) requires you to prepare – Part 2 of a marketing
plan for the same business- which covers strategy issues and marketing (7P’s)
tactics. Due end of Week 10

Assessment 3 (20%)
This requires you in groups to prepare a 10 min presentation on the theme of
issues around socially and environmentally sustainable marketing. Presentation
due Week 12 Lecture and submit PPT into grade-book after the presentation

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Introduction & Overview Assessments

Refer to hand-out
“MKT600 Marketing
Assessment T3 2018
Overview

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Understanding Markets and Consumers

Commercial, Not for Profit, Government

B2C B2B

NFP2C

G2C
B2G

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Customer / Client Orientation & Behaviour

• In development of products/ services & effective


marketing campaigns – the marketer needs to
understand why consumers behave as they do

• This helps marketers


– Shape/ adapt/ create product- service offering
– To encourage new consumers to buy a product/
service
– What to emphasise in communication to a
specific ‘audience’ / group of consumers.

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Consumer Needs and Wants

• Marketers aim to know the specific needs & wants


consumers are attempting to satisfy & how they
translate these into purchasing criteria

• Many products/ services consumers purchase


satisfy their wants rather than their basic needs

• Wants are shaped by people’s knowledge,


personality, culture, values, behaviour with the
product/product category

• Changes in peoples lives often result in new needs


and wants

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Consumer / Customer Needs and Wants

• Need & Wants are not the same thing, though often
confusing to distinguish

– Needs are the basic motivators or drivers

– Wants or desires are shaped by people’s knowledge,


personality, culture, values. Some of the ‘drivers’ for
wants may be embedded in deep societal or familial
norms that shape the individual as they grow into
adulthood

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Needs and Wants

Needs Wants

Essential to be met Nice to have

Objective, definable Not essential

Obvious , Logical Subjective , not declared

Category generic Emotions based often

Trade off one v another

Most Suppliers do this well Consumer choices are mostly made on these
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Customer Value - Introduction
• Creating superior customer value is a core theme in
marketing.

• Customers make their buying choices based on their


perceptions of the value that various ‘offerings’ will deliver
to them.

• Definition – “CV is the difference between the benefits the


customer gains from having access to or owning the offering
and the price paid in obtaining it.”

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Customer Value - Introduction
• Consumers don’t often judge the offer value & price
accurately or objectively

• They act on perceived value

• Its more than the economic benefits & price they


paid- it includes emotional, altruistic or social
benefits

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Customer Satisfaction- Introduction

Definition: “The extent to which a product or


service’s perceived performance matches a
buyers expectations. If the product performance
falls short of expectations, the buyer is
dissatisfied. If performance matches or exceeds
expectations, the buyer is satisfied or delighted.”

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Next Week

– Industry Analysis

– Analysis of a Businesses’
Macro- environment
• Read materials/ resources related
to this

– Aim to have your industry and


SME business selected and
hand in information to me in
class

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