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Slide 1.1
Kotler, Keller, Brady, Goodman and Hansen, Marketing Management, 1st Edition © Pearson Education Limited 2009
Introduction to marketing
Lecture Week 1
Slide 1.2
Kotler, Keller, Brady, Goodman and Hansen, Marketing Management, 1st Edition © Pearson Education Limited 2009
Chapter questions
1. Why is marketing important and what is the scope of marketing?
2. How do we understand markets and customers?
3. How is marketing practiced?
4. What are the European marketing realities, company and consumer challenges?
Slide 1.3
Kotler, Keller, Brady, Goodman and Hansen, Marketing Management, 1st Edition © Pearson Education Limited 2009
Chapter questions (continued)
5. What is the philosophy of marketing?
6. How is marketing in a post modern world and retromarketing practiced?
7. What is an overview of marketing management?
Slide 1.4
Kotler, Keller, Brady, Goodman and Hansen, Marketing Management, 1st Edition © Pearson Education Limited 2009
What is marketing?
Marketing is a customer focusthat permeates organisational functionsand processes and is geared towards
marketing promises through valueproposition, enabling the fulfillment of individual
expectations created by such promises andfulfilling such expectations through supportto customers’ value-generating processes
thereby supporting value creation in the firm, customers and stakeholders.
Slide 1.5
Kotler, Keller, Brady, Goodman and Hansen, Marketing Management, 1st Edition © Pearson Education Limited 2009
What is marketing management?
Marketing management is theart and science
of choosing target markets and getting, keeping and growing
customers throughcreating, delivering and communicating
superior customer value.
Slide 1.6
Kotler, Keller, Brady, Goodman and Hansen, Marketing Management, 1st Edition © Pearson Education Limited 2009
Selling is only the tip of the iceberg
‘There will always be 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
Slide 1.7
Kotler, Keller, Brady, Goodman and Hansen, Marketing Management, 1st Edition © Pearson Education Limited 2009
Marketing is more than advertising or selling
This video clip explores the over focus of many companies on sales and particularly advertising without really trying to understand the customer and really understanding the totality of marketing.
www.youtube.com/watch?v=heSudg-tfIk&feature=related
Slide 1.8
Kotler, Keller, Brady, Goodman and Hansen, Marketing Management, 1st Edition © Pearson Education Limited 2009
What is marketed?
ServicesServices
ProductsProducts
EventsEvents
ExperiencesExperiences
PeoplePeople
PlacesPlaces
IdeasIdeas
Slide 1.9
Kotler, Keller, Brady, Goodman and Hansen, Marketing Management, 1st Edition © Pearson Education Limited 2009
Demand states
Nonexistent Latent
Declining Irregular
Full UnwholesomeOverfull
Negative
Slide 1.10
Kotler, Keller, Brady, Goodman and Hansen, Marketing Management, 1st Edition © Pearson Education Limited 2009
Marketing during a recession: The future is bright!
‘The business landscape has changed fundamentally; tomorrow’s environment will be different, but no less rich in possibilities for those who are prepared.’ (Davis, 2009)
www.youtube.com/watch?v=GEJIhkDSjNo
View an interesting video clip from Kraft Foods on how they stay customer focused during a recession and really understand the core marketing focus on the customer.
Slide 1.11
Kotler, Keller, Brady, Goodman and Hansen, Marketing Management, 1st Edition © Pearson Education Limited 2009
What is a network economy?
A network economy is driven by a dynamic and knowledge-rich technology dominant environment meaning that the hierarchical stand-alone organisations of the twentieth
century have changed into a variety of network forms.
Slide 1.12
Kotler, Keller, Brady, Goodman and Hansen, Marketing Management, 1st Edition © Pearson Education Limited 2009
Network forms
Internal networks
Vertical networks
Intermarket networks
Opportunity networks
Slide 1.13
Kotler, Keller, Brady, Goodman and Hansen, Marketing Management, 1st Edition © Pearson Education Limited 2009
A simple marketing system
Figure 1.2 A simple marketing system
Slide 1.14
Kotler, Keller, Brady, Goodman and Hansen, Marketing Management, 1st Edition © Pearson Education Limited 2009
Key customer markets
Consumer Business
Global Non-profit
Slide 1.15
Kotler, Keller, Brady, Goodman and Hansen, Marketing Management, 1st Edition © Pearson Education Limited 2009
Purchasing power in Europe
Figure 1.3 European purchasing power in 2007Source: Michael Bauer Research (2007) European purchasing power in 2007: who’s on top? 31 August (retrieved from www.english.mb-research.de/content/view/). Reproduced with permission
Slide 1.16
Kotler, Keller, Brady, Goodman and Hansen, Marketing Management, 1st Edition © Pearson Education Limited 2009
Getting a global mindset
• Think globally
• Think locally
• Think globally and locally simultaneously
Slide 1.17
Kotler, Keller, Brady, Goodman and Hansen, Marketing Management, 1st Edition © Pearson Education Limited 2009
Market terms
Marketplace Marketspace
Metamarket Metamediaries
Slide 1.18
Kotler, Keller, Brady, Goodman and Hansen, Marketing Management, 1st Edition © Pearson Education Limited 2009
A metamediary website
Source: European Auto Trader BV
www.autotrader.nl
Slide 1.19
Kotler, Keller, Brady, Goodman and Hansen, Marketing Management, 1st Edition © Pearson Education Limited 2009
The 7Ps of the marketing mix
Figure 1.4 The 7Ps components of the marketing mix
Slide 1.20
Kotler, Keller, Brady, Goodman and Hansen, Marketing Management, 1st Edition © Pearson Education Limited 2009
Classifications of marketing practice
Table 1.3 Classifications of marketing practice by relational exchange dimensions
Slide 1.21
Kotler, Keller, Brady, Goodman and Hansen, Marketing Management, 1st Edition © Pearson Education Limited 2009
Transaction marketing differs from relationship marketing
• Time perspective
• Primary communication
• Customer feedback mechanism
• Market size
• Criterion for success
Slide 1.22
Kotler, Keller, Brady, Goodman and Hansen, Marketing Management, 1st Edition © Pearson Education Limited 2009
The marketing environment
Task environment• Company
• Suppliers
• Distributors
• Dealers
• Target customers
Broad environment• Demographic
• Economic
• Physical
• Technological
• Political-legal
• Social-cultural
Slide 1.23
Kotler, Keller, Brady, Goodman and Hansen, Marketing Management, 1st Edition © Pearson Education Limited 2009
The marketplace isn’t whatit used to be…
Heightened competitionHeightened competition
GlobalizationGlobalization
TechnologiesTechnologies
Industry convergenceIndustry convergence
Retail transformationRetail transformation
DisintermediationDisintermediation
Slide 1.24
Kotler, Keller, Brady, Goodman and Hansen, Marketing Management, 1st Edition © Pearson Education Limited 2009
Consumers are changing …
Consumer sophisticationConsumer sophistication
Tech savvyTech savvy
Self-expressionSelf-expression
Buying powerBuying power
Voice and influenceVoice and influence
Co-creationCo-creation
Self-serviceSelf-service
Slide 1.25
Kotler, Keller, Brady, Goodman and Hansen, Marketing Management, 1st Edition © Pearson Education Limited 2009
Philosophies of business
Production philosophy
Selling philosophy
Marketing philosophy
Slide 1.26
Kotler, Keller, Brady, Goodman and Hansen, Marketing Management, 1st Edition © Pearson Education Limited 2009
Conditions of postmodern marketing
• Hyperreality
• Fragmentation
• Reversals of production and consumption
• Decentring of the subject
• Paradoxical juxtapositions
• Loss of commitment
Slide 1.27
Kotler, Keller, Brady, Goodman and Hansen, Marketing Management, 1st Edition © Pearson Education Limited 2009
Characteristics of retromarketing
Tricksterism
Exclusivity
Amplify
Secrecy
Entertain
Slide 1.28
Kotler, Keller, Brady, Goodman and Hansen, Marketing Management, 1st Edition © Pearson Education Limited 2009
Overview of marketing management
• Creating value
• Introducing marketing
• Capturing marketing insights
• Connecting with customers
• Building strong brands
• Marketing mix
• Implementing marketing management
• Managing marketing metrics
Slide 1.29
Kotler, Keller, Brady, Goodman and Hansen, Marketing Management, 1st Edition © Pearson Education Limited 2009
Recap: Can you explain?
• Why is marketing important and what is the scope of marketing?
• How do we understand markets and customers?
• How is marketing practiced?
• What are the European marketing realities, company and consumer challenges?
Slide 1.30
Kotler, Keller, Brady, Goodman and Hansen, Marketing Management, 1st Edition © Pearson Education Limited 2009
Recap: Can you explain? (continued)
• What is the philosophy of marketing?
• How is marketing in a post modern world and retromarketing practiced?
• What is an overview of marketing management?