Intro to Mktg

8/3/2019 Intro to Mktg

1/29

Introduction to Marketing

2 + 2 = 4But in marketing ?

Never !


2/29

What do you understand by Marketing ? The Importance of marketing :

Financial success often depends on marketing

ability

There must be a top line for there to be a

bottom line

The death of Marketing

1-2


3/29

Marketing?

Marketing is an organizational function

and a set of processes for creating,

communicating, and delivering valueto customers and for managing

customer relationships

in ways that benefit theorganization and its stakeholders.


4/29

Marketing Management?

Marketing management:choosing your value proposition

target markets

getting, keeping, and growingcustomers

creating, delivering, and communicating

superior (to competitors) customer value.

Project will aim to give you experiential learning of

these


5/29

Changing attitudes Towards

MarketingHistory and Development of company orientations

Production Concept

Product concept Selling Concept

Marketing Concept

Marketing is everybodys business Integrated Marketing

Consumer drives marketing ! Or the entire business ?


6/29

Holistic Marketing Dimensions


7/29

In this course we will address the following

questions: What is the new economy like?

What are the tasks of marketing?

What are the major concepts and tools of

marketing? What orientations do companies exhibit in the

marketplace?

What are the new challenges for marketing?

How are companies and marketers responding tothe new challenges?


8/29

Marketing Debate:

Does marketing shape consumer needs?

or

Does marketing merely reflect the needs and

wants of consumers?


9/29

Assignment

Read Breakthrough Marketing Tata Ace,

page 6

Project strategy for Tata Nano

for discussion in the next class


10/29

The New Economy

Fast change - short product life cycles change due to technology, culture, etc.

Substantial increase in buying power

A greater variety of goods and services

A greater amount of information aboutpractically anything

Greater ease in interacting, placing and

receiving orders An amplified voice to influence public

opinion


11/29

The New Economy Ability to compare notes on products and

services

Websites can provide companies withpowerful new information and sales

channels. Companies can collect fuller and richer

information about markets, customers,

prospects and competitors. Companies can facilitate and speed up

communications among employees.


12/29

The New Economy

Companies can have 2-way communicationwith customers and prospects

Companies can send ads, coupons,

samples, information to targetedcustomers.

Companies can customize offerings andservices to individual customers.

The Internet can be used as acommunication channel for purchasing,training, and recruiting.


13/29

The 4 major challenges faced by

businesses today are:

1. Globalization

2. Advances in technology

3. Deregulation

4. Informed & demanding consumer

new consumer capabilities

are these opportunities or threats to

businesses? Why?


14/29

Challenges are due to :

Information technology

Globalization

Deregulation

Privatization

Competition

Convergence

Consumer resistance

Retail transformation


15/29

CMOs Task

Unwritten rules of Marketing

The CEO must own the marketing function.

Make sure the marketing department starts

small and flat and stays small and flat.

Get face to face with the people who matter

most the customers.

Use market research cautiously* to gathermeaningful customer insights

Hire only passionate missionaries.

Utilize new marketing technology


16/29

A quick test..

Buffy the Vampire slayer -

who is the typical viewer?

Current Affairs documentaries -who is watching?


17/29

Answers

Buffy the Vampire slayer - typical viewer?

Male - age 41

Current Affairs documentaries -who is watching?

Increasingly -18 - 30

Assumptions are changing.


18/29

Marketing Task

Love and respect your customers.

Create a community of consumers.

Rethink the marketing mix .

Be true to the brand. Keep your brand promise.


19/29

Marketing Mix - Four Ps


20/29

The Scope of Marketing

Places

Properties

Organizations

Information

Ideas

Goods

Services

Experiences

Events

Persons


21/29

Key Market Categories

Consumer Markets

Business Markets

Global Markets

Nonprofit and

Governmental Markets


22/29

A Simple Marketing System


23/29

Marketing Concepts

and Tools Marketers and Prospects target markets

Needs, Wants, and Demands

Stated needs Real needs

Unstated needs

Delight needs

Secret needs


24/29

Marketing Concepts

and Tools Product, Offering, and Brand

Value and Satisfaction

Customer valueValue = Benefits / Costs =

(Functional-tangible-benefits- + Emotional-intangible benefits ) / (Monetary costs +Time costs + Energy costs + Psychic costs)


25/29

Company Orientations Toward the

Marketplace

Integrated Marketing

External marketing Internal marketing


26/29

Company Orientations Toward the

Marketplace

Profitability

Sales decline

Slow growth

Changing buying patterns

Increasing competition

Increasing marketing expenditures


27/29

Company Orientations Toward the Marketplace

Performance Marketing

Financial

Accountability

Social

Responsibility

Marketing

Social Initiatives

Corporate socialmarketing

Cause-related marketing

Corporate philanthropy

Corporate community

involvement Socially responsible

business practices


28/29

How Business and Marketing are

Changing

Company responses and adjustments

Reengineering

Outsourcing

E-commerce

Benchmarking

Alliances

Partner-suppliers

Market-centered

Global and local

Decentralized


29/29

How Business and Marketing are

Changing Marketer Responses

and Adjustments

Customer relationshipmarketing

Customer lifetime value

Customer share

Target marketing

Customization

Customer database

Integrated marketingcommunications

Channels as partners

Every employee a

marketer

Documents

Intro to Mktg