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Welcome to the World of Marketing

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Title: Consumers Rule Author: mkcool Last modified by: SWOSU Created Date: 9/8/2005 12:53:29 AM Document presentation format: On-screen Show Company – PowerPoint PPT presentation

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Title: Welcome to the World of Marketing


1
Welcome to the World of Marketing Creating and
Delivering Value
2
Chapter Objectives
  1. who are marketers?
  2. where they work,
  3. marketings role
  4. in the firm
  5. Explain marketing

3
Chapter Objectives
  1. Marketings value
  2. to everyone involved in the marketing process
  3. range of services goods

4
Chapter Objectives
  • Understand value
  • Re customers, producers, and society
  • marketing planning

5
Chapter Objectives
  1. marketing mix tools
  2. Product/price/promotion
  3. Place (distribution)
  4. evolution of the marketing concept

6
CHAPTER CONCEPTS
7
Welcome to a Branded World
  • Brand You
  • You are a product
  • You have market value
  • as a person

8
Welcome to a Branded World
  • Brand You
  • You position yourself for a job
  • Dont sell yourself short
  • You package promote yourself

9
Who Where of Marketing
  • Marketers
  • Are real people
  • who make choices that affect
  • themselves,
  • their companies,
  • millions of consumers

10
Who Where of Marketing
  • Marketers
  • Work cross-functionally
  • within the firm
  • Enjoy exciting, diverse careers

11
The Value of Marketing
  • Definition of marketing (AMA, 2004)
  • An organizational function
  • and a set of processes
  • for creating, communicating, and delivering
  • value to customers

12
The Value of Marketing
  • Definition of marketing (AMA, 2004)
  • and manages customer relationships
  • in ways that
  • benefit the organization
  • and its stakeholders

13
Marketing Meeting Needs
  • stakeholders
  • Buyers,
  • sellers,
  • investors,
  • community residents,
  • citizens

14
Marketing Meeting Needs
  • Marketing concept
  • Identifying consumer needs
  • providing products that satisfy those needs

15
Marketing Meeting Needs
  • The modern marketplace
  • a mall,
  • mail-order catalog,
  • a TV shopping network,
  • an eBay auction,
  • or an e-commerce Web site

16
Marketing Creating Utility
  • Utility the sum of the benefits we receive from
    using a product/service
  • Form utility
  • Place utility
  • Time utility
  • Possession utility

17
Marketing Is about Exchange Relationships
  • An exchange occurs when something is obtained for
    something else in return,
  • like cash for goods or services
  • Buyer receives product that satisfies need
  • Seller receives something of equivalent value

18
The Evolution of Marketing
  • The Production Era
  • The Selling Era
  • The Consumer Era
  • The New Era

19
The Production Era
  • Focus most efficient ways to make and
    distribute products,
  • like Henry Fords Model T Ivory soap
  • Marketing plays an insignificant role

20
The Selling Era
  • Focus one-time sales of goods
  • rather than repeat business
  • Marketing a sales function

21
The Consumer Era
  • Focus satisfying customers needs and wants
  • Marketing more important
  • Total Quality Management (TQM)
  • widely followed in marketing community

22
The New Era Profits Ethics
  • Focus building long-term bonds
  • with customers.
  • Marketing uses customer relationship management
    (CRM)
  • to track consumers preferences
  • tailor value proposition to each individual

23
The New Era Focusing on Social Benefits
  • Social marketing concept
  • satisfy customers needs and
  • also benefit society
  • Sustainability
  • meeting present needs and
  • ensuring future generations can meet their needs

24
The New Era Focusing on Accountability
  • Measuring how much value is created by marketing
    activities
  • ROI (Return on Investment)
  • direct financial impact of firms expenditure of
    resources
  • such as time or money

25
What Can Be Marketed?
  • From serious goods and services
  • to fun things
  • Goods and services
  • mirror changes in popular culture
  • Marketing messages
  • may communicate myths of a culture

26
What Can Be Marketed?
  • Product any good, service, or idea
  • Consumer goods/services
  • Business-to-business goods/services
  • Not-for-profit marketing
  • Idea, place, and people marketing

27
The Marketing of Value
  • Value
  • the benefits a customer receives
  • from buying a good or service

28
The Marketing of Value
  • Marketing communicates the value proposition
  • a marketplace offering that
  • fairly and accurately sums up the value
  • that the customer will realize
  • if he/she purchases product/service

29
Value from the Customers Perspective
  • The ratio of costs to benefits
  • Value proposition includes
  • whole bundle of benefits
  • the firm promises to deliver,
  • not just the benefits of the product itself

30
Value Sellers Perspective
  • takes many forms
  • Making a profitable exchange
  • Earning prestige among rivals
  • Taking pride in doing what a company does well
  • Nonprofits
  • motivating, educating, or delighting the public

31
Calculating the Value of a Customer
  • Single transactions
  • dont provide companies with value they desire
  • Lifetime value of a customer
  • How much profit a company expects from ONE
    customers purchases now and in the future
  • WalMart LTV 250,000

32
Providing Value to Stakeholders
  • Competitive advantage
  • ability of a firm to outperform the competition
  • by providing customers with a benefit
  • the competition cannot provide

33
Adding Value throughthe Value Chain
  • a series of activities
  • involved in designing, producing, marketing,
    delivering, and supporting any product

34
Adding Value throughthe Value Chain
  • a series of activities
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing final product
  • Service

35
Consumer-Generated ValueFrom Audience to
Community
  • Everyday people generating value
  • instead of just buying it
  • People functioning
  • in marketing roles
  • creating ads,
  • providing input into new products, or
  • serving as retailers

36
Value Societys Perspective
  • How marketing transactions
  • add or subtract value from society
  • Stressing ethics/social responsibility
  • is good business in long run

37
The Dark Side of Marketing
  • Marketers
  • Illegal activities
  • such as bait and switch
  • Products that encourage antisocial behavior

38
The Dark Side of Marketing
  • Consumers
  • Terrorism
  • Addictive consumption
  • Exploited people
  • Illegal activities
  • Shrinkage
  • Anticonsumption

39
Marketing as a Process
  • Marketing planning
  • Analyzing the marketing environment
  • Developing a marketing plan
  • Deciding on a market segment
  • Choosing the marketing mix
  • product, price,
  • promotion, place

40
THE END
41
Keeping It Real Fast-Forward to Decision Time
at Qode
  • Meet Rick Szatkowski of NeoMedia Technologies
  • Qode links your cell phone to the Web when you
    enter a keyword or click a SmartCode.
  • Example A code on a movie poster plays a trailer
    for the movie

42
Chapter case study
  • Ron Jons Surf Shop
  • See handout

43
Ron Jon Surf Shop, Inc.
  • How to advertise Ron Jons at airports?
  • Option 1 rental car advertising
  • Option 2 wall-mounted backlit photographs
    (dioramas)
  • Option 3 escalator gateways

44
How It Worked Out at Ron Jon Surf Shop
  • Bill choose option 2 wall-mounted backlit
    photographs (dioramas)
  • Opened a small store in the Orlando Airport
    adjacent to the very busy food court
  • Surf and sales are up at Ron Jon!
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