Principles of marketing: Lecture 5 provide students with knowledge about: marketing challenges in the 21st century; Porter’s 5 forces model of competition; the information technology boom; major forces shaping the digital age; electronic commerce;... Please refer to this lesson for details!
MGT301 Principles of Marketing Lecture5 Summary of Lecture4 How has Marketing Changed Over Time? The stages in the evolution of marketing Production orientation Sales orientation Marketing orientation Social marketing orientation PRODUCT CONCEPT SOCIETAL MARKETING CONCEPT KEY MARKETING PHILOSOPHIES MARKETING MARKETING CONCEPT CONCEPT PRODUCTION CONCEPT SELLING CONCEPT Society Society (Human (Human Welfare) Welfare) Societal Societal Marketing Marketing Concept Concept Consumers Consumers (Satisfaction) (Satisfaction) Company Company (Profits) (Profits) Production Marketing an m ces Hu ur so re Customer Fi e c n a n The customer as the controlling function and marketing as the integrative function Today’s Topics Marketing Challenges in the 21st century Porter’s 5 Forces Model of Competition Emarketing: – Includes efforts that inform, communicate, promote, and sell products and services over the Internet Ecommerce benefits both buyers and sellers Technology for Connecting Electronic Commerce retailer / manufacturer Financial Institution Internet consumer The Digital Revolution The Digital Revolution: one of the biggest changes in the world of marketing. Changes in technology are transforming the ways we: – communicate, – buy, – sell, – learn, and – work Rapid Globalization BE T o n J a zz Anthro po lo g y P&E Animal Plane t Children’s Cable Net Are na Clas s ic al Mus ic Kno wle dge TV Ovatio n KIDS CIVILIZATION Classic Arts Showcase Bo o kne t EOP New Science Network C-SP AN DIYAr ts & An tiq u e s Mus e um Channe l S CIE NC E No g g in Theater Channel BLOOMBERG NEW S INFORMATION Trave l Channe l “Global Village” The Changing World Economy The Call for more ethical and social Responsibility The New Marketing Landscape Enough for today. . Summary Marketing Challenges in the 21st century Threat of New Threat of Entrants New Entrants Bargaining Power of Suppliers Rivalry Among Competing Firms in Industry Bargaining Power of Buyers Threat of Substitute Products * The Information Technology Boom Rapid Globalization The Changing World Economy The Call for more ethical and social Responsibility The New Marketing Landscape Next… Marketing Process Analyzing marketing opportunities Selecting target markets MGT301 Principles of Marketing Lecture5 ... Porter’s? ?5? ?Forces Model? ?of? ?Competition Threat of New Threat? ?of? ? Entrants New Entrants Bargaining Power of Suppliers Rivalry Among Competing Firms in Industry Bargaining Power of Buyers Threat of Substitute... Marketing Challenges in the 21st century Threat of New Threat? ?of? ? Entrants New Entrants Bargaining Power of Suppliers Rivalry Among Competing Firms in Industry Bargaining Power of Buyers Threat of Substitute Products... Marketing Process Analyzing marketing opportunities Selecting target markets MGT301 Principles? ?of? ?Marketing Lecture? ?5