marketing principles unit 1 introduction marketing

Unit i 1– Introduction to Marketing CuuDuongThanCong.com https://fb.com/tailieudientucntt About b Me…  Professor Mark Runge  markrunge.rmit@gmail.com k it@ il  Cell # by request  Office hours are by appointment CuuDuongThanCong.com https://fb.com/tailieudientucntt Class Structure  The course will be structured as follows –  I will lecture for the first part of class  I will then assign discussion questions for groups to answer You will have 20min to formulate your answers You will then share these answers with the class CuuDuongThanCong.com https://fb.com/tailieudientucntt Assessment  Assignment 1: A mid mid-term term closed book exam of 1.5 hours (40%) March 19 & 20 2013  Assignment 2: One group presentation and written report (60%)  Presentations are to be 15 minutes in length with use of PPT slides slides I will provide each group the topic Presented April 30 & May 1, & 2013  I will provide the topic and guidelines after the Tet holiday CuuDuongThanCong.com https://fb.com/tailieudientucntt Unit 1: Objectives b  Understand the role of marketing  Describe key organizational orientations  Understand U d t dk key marketing k ti concepts t and d definitions  Analyze y the impact p of major j environmental forces like technology, globalization and de-regulation on organizations and their approach to marketing  Discuss the sources of competitive advantage and the bases from which organizations compete  Understanding the difference between marketing off goods d and d the h marketing k off services CuuDuongThanCong.com https://fb.com/tailieudientucntt How does d Marketing k ffit in?  There are four key management disciplines Finance/Accounting Fi /A ti Information Technology Human Resources Management Marketing CuuDuongThanCong.com https://fb.com/tailieudientucntt What is Marketing? CuuDuongThanCong.com https://fb.com/tailieudientucntt What h is Marketing? k Simply put: Marketing is the d li delivery off customer t satisfaction ti f ti at a profit Goals: Attract new ne customers c stomers b by promising superior value and keep and grow current customers by delivering satisfaction CuuDuongThanCong.com https://fb.com/tailieudientucntt The Role of Marketing  “Marketing is so basic that it cannot be considered a separate p function It is the whole business seen from the point of view of its final result, that is, from the customer’s point of view… Business success is not determined by the producer but by the consumer” (Drucker 1973)  “Marketing is the delivery of customer value and satisfaction ti f ti att a profit fit Th The goall off marketing k ti iis to attract new customers by promising superior value, and to keep p customers byy delivering g satisfaction” (Kotler et al 2001) CuuDuongThanCong.com https://fb.com/tailieudientucntt Marketing k Defined f d Process by which individuals and groups obtain what they need and want through h h creating and d exchanging products and value with h others h 10 CuuDuongThanCong.com https://fb.com/tailieudientucntt What are Consumers Consumers’ Needs, Wants, and Demands? Needs - state of felt deprivation including physical, social, and individual needs i.e hunger Wants - form that a human need takes as shaped by culture and individual personality i.e bread Demands - human wants backed by buying power i.e money 11 CuuDuongThanCong.com https://fb.com/tailieudientucntt Example: Maslow’s Hierarchy Of Needs Self Actualisation Self Esteem Social and Belonging Safety Physiological CuuDuongThanCong.com 12 https://fb.com/tailieudientucntt Wh Will SSatisfy What i f C Consumers’’ Needs and Wants? Products Anything y g that can be Offered to a Market to Satisfyy a Need or Want Experiences Persons Organizations Activities Places Ideas 13 CuuDuongThanCong.com https://fb.com/tailieudientucntt Modern d Marketing k System 14 CuuDuongThanCong.com https://fb.com/tailieudientucntt Marketing k Management Marketing Management Demand Management Profitable P fit bl Customer Relationships Involves managing demand, which involves managing customer relationships Finding and increasing demand also changing or demand, reducing demand such as in Demarketing Att ti new customers Attracting t and d retaining and building relationships with current customers 15 CuuDuongThanCong.com https://fb.com/tailieudientucntt Marketing Management Philosophies Production Concept Product Concept Selling g Concept p Marketing Concept Societal Marketing Concept 16 CuuDuongThanCong.com https://fb.com/tailieudientucntt Marketing and Sales Concepts Contrasted 17 CuuDuongThanCong.com https://fb.com/tailieudientucntt Societal Marketing g Concept 18 CuuDuongThanCong.com https://fb.com/tailieudientucntt What are the major differences between the Marketing Concept and the Societal Marketing Concept? 19 CuuDuongThanCong.com https://fb.com/tailieudientucntt What is a Product?  A PRODUCT is anything that can be offered to a market for attention, acquisition, use, or consumption and that might satisfy a want or need  Includes:  Physical Objects  Services  Events  Persons  Places  Organisations  Ideas  Combinations C bi i off the h above b 20 CuuDuongThanCong.com https://fb.com/tailieudientucntt What is a Service?  A SERVICE is a form of p product that consist of activities, benefits, or satisfactions offered for sale that are essentially intangible and not result in the ownership of anything anything  Examples include:  Banking  Hotels  Tax preparation  Home repair services 21 CuuDuongThanCong.com https://fb.com/tailieudientucntt Products, Services, and Experiences Tangible Good Pure With Tangible Accompanying Good Services Soap Hybrid Offer Service With Accompanying Minor Goods Pure Service Auto With Airline Trip Accompanying Restaurant With Doctor’s Repair Accompanying Exam Services Snacks 22 CuuDuongThanCong.com https://fb.com/tailieudientucntt Nature and Characteristic of a Service 23 CuuDuongThanCong.com https://fb.com/tailieudientucntt Reviewing the Concepts  Define what marketing is and discuss its core concepts  Explain the relationships between customer value, satisfaction, and quality  Define marketing management and examine how marketers manage demand and build profitable customer relationships l i hi  Compare the five marketing management philosophies hil hi 24 CuuDuongThanCong.com https://fb.com/tailieudientucntt ... Assignment 1: A mid mid-term term closed book exam of 1. 5 hours (40%) March 19 & 20 2 013  Assignment 2: One group presentation and written report (60%)  Presentations are to be 15 minutes in... 30 & May 1, & 2 013  I will provide the topic and guidelines after the Tet holiday CuuDuongThanCong.com https://fb.com/tailieudientucntt Unit 1: Objectives b  Understand the role of marketing. .. Places Ideas 13 CuuDuongThanCong.com https://fb.com/tailieudientucntt Modern d Marketing k System 14 CuuDuongThanCong.com https://fb.com/tailieudientucntt Marketing k Management Marketing Management