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7/29/2019 Unit 401 Marketing Topic 1
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UNIT 401 cbs mba
pRogramMARKETING
TOPIC 1: THE DISCIPLINE OF
MARKETING
Business has only two functions: marketing and innovation- Milan Kundera, author of The Unbearable Lightness of Being
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INTRODUCTIONvMarketing is a process that matches the wants& needs of customers with an organization'sability to meet them by providing appropriategoods & services
vDoes this through exchange of value betweenthe organization & customer
vProvides important interface between theorganization & its customers
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UNIT OUTLINE
vMeaning ofMarketing Philosophy
vHow marketing is a process ofmatchingorganization's resources with customer needs &creating value for both
vRole of each of the elements ofMarketing Mix
vMarketing strategy&planning process
vApply various Marketing Analysis Tools &Techniques to develop marketing objectives
How to conduct Marketing Audit
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.contd
vImportance of developing& sustaining competitive
advantage
vApproaches tosegmenting markets,
identifying target markets
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vMeaning of marketing as a philosophy
vWhat is marketing & why it is needed
vKey differences between marketing
concept & other business orientations
vFour characteristics of marketing-
oriented organization
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vElements of marketing mix
vKey differences between marketingtangible goods & services
vKey differences between business-to-business (B2B) & business-to-consumer (B2C) marketing
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Marketing Trends
Three key trends that have triggered theincreased of marketing are:
Increasing Competition
Increasing consumer choice & consumerpower
Technology & access to information
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3/26/13 Marketing: APhilosophyvAccording to Philip Kotler:
In the 21st centurymarketing must be
understood not in the oldsense of making a sale -telling & selling but inthe new sense ofcreating
valuethrough interacting& working with thecustomer.vA marketing philosophy is achieved through
a balanced, planned & integrated use of the
marketing mix.
X
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What is Marketing?
vMarketing is a social and managerialprocess by which individuals and groupsobtain what they need and want through
creating and exchanging products andvalue with others.Kotler
vExchange of value isan important concept
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3/26/13 What is Marketing?contdvTo be successful the organizationneeds to:
CreateCommunicate
Deliver
Sustain
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What gets Marketed?
vGoods
vServices
vEvents
vExperiences
vPeople
vPlaces
vProperties
vOrganizations
v Information
v Ideas
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What do Marketers do?
vBasic activities that marketersengage in are:
Segmenting the market
Targeting the various segments
Creating & communicating valueThe job of marketing is to make salessuperfluous- Peter Drucker
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Why do we need marketing?
vShifting business paradigms
Sellers markets
Buyers markets
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3/26/13 Business Orientations inMarketing
vProduction Orientation or Production Concept
vProductOrientation or Product Concept
vSales Orientation or Sales Concept
vMarketing Orientation or Marketing Concept
vSocietal Orientation or Societal Marketing
Conce t
/ /
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Characteristics of Marketing-
Oriented Organization Customer Satisfaction is
a central focus
Products are defined by
customer needs
Marketing is integrated
across the organization
Marketing Intelligence is
DrillBit
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process
ORGANIZATIONRESOURCES CUSTOMERWANTS &NEEDS
THE MARKETING ENVIRONMENT
MATCHING
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3/26/13 Marketing as a matching processcontd
vCustomer Wants & Needs
Need: A state of felt deprivation
Want : The form that a humanneed takes as shaped by cultureand individual personality.People have narrow basic needsbut almost unlimited wants.
Demands: Human wants that
Customeris the controlling factorin the process
Customers buy things they perceive that theyneed or want
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contdvThe Organizations Resources
Organizations ability to identify & satisfya particular consumer need by creating an
offer
Resources include its skills, knowledge &
creative capacity, its reputation, tangible& intangible assets
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3/26/13 Marketing as a matching process
contdvThe Marketing Environment
Economic
Political
Socio-cultural
Technological
Legal
Natural environmental
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contdvThe Matching Process
Includes all those activities that lead tocustomer purchases of the organizations
products or take-up of its offerings
For Profit & Not-For-Profit marketing
A nonprofit organization markets the work it doesor the cause it supports, instead of a product orservice
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The marketing mix
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3/26/13 The marketing mixcontd
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3/26/13 The marketing mixcontd
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MARKETING GOODS
vGoods Marketing relates to selling physicalproducts.
Durable goods are physical goods used
over an extended time.
Nondurable goods are consumable
products made from materials other thanmetal, wood, and hard plastics.
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MARKETING SERVICES
vServices Marketing includes rented-goodsservices, owned-goods services, andnongoods services.
Rented-Goods Services: leasing auto,hotel room, office space, wedding items
Owned Goods Services: auto orcomputer repairs, lawn care & home care
Non-goods Services: personal advice,
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3/26/13 MARKETING to consumers &businessesvBusiness-to-business (B2B) market issignificantly larger than the consumer market.
vBusiness-to-business (B2B) marketingOrganizational sales and purchases of goodsand services to support production of otherproducts, to facilitate daily companyoperations, or for resale.
vExample: Caterpillar, which makes
construction and mining equipment.
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