After studying this chapter you will be able to understand: Define marketing and outline the steps in the marketing process, explain the importance of understanding customers and the marketplace and identify the five core marketplace concepts, identify the key elements of a customer-driven marketing strategy and discuss the marketing management orientations that guide marketing strategy,...
Fundamentals Of Marketing (MGT-210) Mr Abid Saeed (Assistant Professor) Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall 11- 11 Course Objectives § § § § Students understand the basic concepts, theories, processes and terminology of contemporary marketing Analyze marketing problems and suggest workable solutions Understand the effects of the marketing concept on consumers and society Develop a consciousness about the importance of ethics in the marketing discipline Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall 1- Learning Outcomes § § § Understand the importance of marketing in business practices Understand the various marketing mix tools: product, pricing, promotion, and distribution Recommend and justify an appropriate mix of such strategies to form a cohesive overall strategy for a given marketing task or situation Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall 1- Recommended Books § § § § Principles of Marketing by Philip Kotler & Gary Armstrong Fifteenth Edition, Published by Prentice Hall Marketing Management – A South Asian Perspective by Philip Kotler, Kevin Lane Keller, Abraham Koshy & Mithileshwar Jha, 13th Edition, Published by Pearson Education, Inc Principles and Practices of Marketing by Jobber, D 4th edition, McGraw Hill International Principles of Advertising & IMC by Tom Duncan 2nd Edition, Published by McGraw-Hill Irwin Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall 1- Teaching Methodology My basic teaching philosophy for this course is to blend the theory and practice of Marketing in a comfortable, supportive & easy language that promotes active learning Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall 1- Assessment Criteria ITEM ASSESSMENT TASK TOTAL MARKS Assignments (4) 10% Quizzes (4) 10% Graded Discussion Topics (4) 05% 1st Sessional 10% 2nd Sessional 15% Final Examination 50% Your assessment & final grades will be based as per University existing rules Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall 1- Course Outline Marketing: Creating and Capturing Customer Value § Company and Marketing Strategy: Partnering to Build Customer Relationships § Analyzing the Marketing Environment § Managing Marketing Information to Gain Customer Insights § Consumer Markets and Consumer Buyer Behavior § Business Markets and Business Buying Behavior § Customer-Driven Marketing Strategy: Creating Value for Target Customers § Product, Services, and Brands: Building Customer Value § New-Product Development and Product Life-Cycle Strategies Đ Understanding and Capturing Customer Value Copyright â 2012 Pearson Education, Inc § Publishing as Prentice Hall 1- Course Outline § § § § § § § § § § Pricing Strategies Marketing Channels: Delivering Customer Value Retailing and Wholesaling Communicating Customer Value: Integrated Marketing Communications Strategy Advertising and Public Relations Personal Selling and Sales Promotion Direct and Online Marketing: Building Direct Customer Relationships Creating Competitive Advantage The Global Marketplace Sustainable Marketing Social Responsibility and Ethics Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall 1- LECTURE1 Marketing: Creating and Capturing Customer Value Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall 11- 99 Topic Outline § What Is Marketing? § Marketing process § Understanding the Marketplace and Customer Needs Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall 1- 10 What Is Marketing? Marketing is a process by which companies create value for customers and build strong customer relationships to capture value from customers in return Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall 1- 11 Marketing Process Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall 1- 12 • Understanding the Marketplace Customer Needs, Wants, and Demands and Customer Needs Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall 1- 13 § Understanding the Marketplace Customer Needs Market and offerings are some combination of products, services, information, or experiences offered to a market to satisfy a need or want § Marketing myopia is focusing only on existing wants and losing sight of underlying consumer needs Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall 1- 14 • • Understanding the Marketplace Customer Value and Satisfaction and Customer Needs Expectations Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall 1- 15 Understanding the Marketplace and Customer Needs Exchange the act of obtaining a desired object from someone by offering something in return Marketing actions try to create, maintain, grow exchange relationships Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall 1- 16 Understanding the Marketplace Markets the set of actual and and are Customer Needs potential buyers of a product Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall 1- 17 Bibliography § § § § Principles of Marketing by Philip Kotler & Gary Armstrong Fifteenth Edition, Published by Prentice Hall Marketing Management – A South Asian Perspective by Philip Kotler, Kevin Lane Keller, Abraham Koshy & Mithileshwar Jha, 13th Edition, Published by Pearson Education, Inc Principles and Practices of Marketing by Jobber, D 4th edition, McGraw Hill International Principles of Advertising & IMC by Tom Duncan 2nd Edition, Published by McGraw-Hill Irwin Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall 1- 18 The End "Unless you try to something beyond what you have already mastered, you will never grow." Ronald E Osborn Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall 1- 19 ... Value for Target Customers § Product, Services, and Brands: Building Customer Value § New-Product Development and Product Life-Cycle Strategies Đ Understanding and Capturing Customer Value Copyright... as Prentice Hall 1- Course Outline Marketing: Creating and Capturing Customer Value § Company and Marketing Strategy: Partnering to Build Customer Relationships § Analyzing the Marketing Environment... Sustainable Marketing Social Responsibility and Ethics Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall 1- LECTURE 1 Marketing: Creating and Capturing Customer Value Copyright