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CHAPTER 1: Marketing: The Art and Science of Satisfying Customers

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Title: Chapter 1: Marketing Intro Author: rreese Last modified by: IVCC Created Date: 8/18/1999 3:09:30 PM Document presentation format: On-screen Show – PowerPoint PPT presentation

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Title: CHAPTER 1: Marketing: The Art and Science of Satisfying Customers


1
CHAPTER 1 Marketing The Art and Science of
Satisfying Customers
  • 2 BASIC OPERATING FUNCTIONS OF EVERY
    ORGANIZATION 1. Production of a good, service,
    organization, person, or idea 2. Marketing of
    the good, service, organization, person or idea

2
Utility
  • want satisfying power of a good or service

3
4 TYPES OF UTILITY
  • 1. FORM
  • created by production
  • convert raw materials into finished goods
    services Ex. Metal Shelves

4
Utility (Cont.)
  • 2. TIME
  • created by marketing
  • availability of goods services when consumers
    want to buy them Ex. Dominos 30 minute
    guarantee Federal Express

5
Utility (Cont.)
  • 3. PLACE
  • created by marketing
  • availability of goods services where consumers
    want to buy them
  • Ex. vending machines, Taco Bell Express
  • 4. OWNERSHIP
  • created by marketing
  • transfer title time of purchase
  • Ex. retail outlets (in exchange for or credit
    card payment)

6
WHAT IS MARKETING?
  • American Marketing Assoc. (1985)
  • "process of planning executing the conception,
    pricing, promotion, distribution of ideas,
    goods, services to create exchanges that will
    satisfy individual organizational objectives"

7
Marketing does not begin at the end of the
loading dock! Marketing should be involved from
the conception of the product to the ultimate
user.
8
4 Eras in Marketing
  • 1. PRODUCTION ERA
  • "A good product will sell itself"
  • Prior to 1920's
  • production oriented make product and then sell
    it (Henry Ford)

9
  • 2. SALES ERA
  • "Creative advertising selling will overcome
    customer resistance convince them to buy
  • between 1925 early 1950's
  • selling was main focus of marketing

10
  • 3. MARKETING ERA
  • "The consumer is king! Find a need fill it!
  • early 1950's to early 1990s
  • Emergence of the Marketing Concept
  • CONSUMER ORIENTATION

11
  • 4. RELATIONSHIP MARKETING
  • long-term, value added relationships developed
    over time with customers and suppliers
  • Strategic Alliances
  • Ex. UPS
  • What era do you think is next??

12
AVOIDING MARKETING MYOPIA
  • Management failure to recognize scope of its
    business
  • EX. Amtrak
  • ATT and TCI
  • chart on pg 15 gives good examples of focusing on
    benefits

13
5 Types of Nontraditional Marketing
  • 1. Person Marketing
  • to cultivate attention, interest, preference
    of a target market toward a person
  • Ex. pro athletes
  • 2. Place Marketing
  • attract visitors to a particular area
  • Ex. Wake Up to Missouri or Pumpkin License
    Plate

14
  • 3. Cause Marketing
  • identification marketing of a social issue,
    cause, or idea to selected target markets
  • Ex. "Save the Whales"
  • literacy
  • Milk

15
  • 4. Event Marketing
  • mkt of sporting, cultural, charitable
    activities to selected target markets
  • Ex. Visa Olympics or TWA Dome
  • 5. Organizational Marketing
  • seek to influence others to accept the goods of,
    receive the services of, or contribute in some
    way to an organization
  • - Ex. Be All that You Can Be
  • Ex An Army of One http//www.dtic.mil/armylink
    /news/Jan2001/r20010110armyadcampaignrel.html

16
ELEMENTS OF A MARKETING STRATEGY
  • 1. THE TARGET MARKET
  • who firm will direct marketing efforts toward
  • Ex. Baby-boomers, children, women
  • Ex. Stouffers Lean Cuisine
  • 2. THE MARKETING MIX VARIABLES (4Ps)
  • Once target market is chosen, how these variables
    are "mixed" determines success of marketing.

17
Marketing Mix
  • A. PRODUCT activities involved in developing
    right product involves package design, branding,
    trademarks, warranties, product life cycles new
    product development
  • B. PRICING one of most difficult marketing
    decisions

18
  • C. DISTRIBUTION ensures that product arrives in
    right place, in right quantity at the right time
  • D. PROMOTION communications link between sellers
    buyers
  • Ex. advertising, sales people, sales
    promotions

19
  • 3. THE MARKETING ENVIRONMENT
  • The marketing environment is important because it
    provides a framework for all marketing activity.
  • 5 Forces
  • 1. COMPETITION
  • 2. POLITICAL-LEGAL
  • 3. ECONOMIC
  • 4. TECHNOLOGICAL
  • 5. SOCIAL-CULTURAL


20
  • Strategic Alliances partnership that creates
    competitive advantages
  • ex. Delta and Disney
  • UPS and Bradfields
  • Marketing Costs
  • creating time, place ownership utility costs
  • most estimate that marketing costs are 40 - 60
    of overall product cost

21
Internet and Marketing
  • It was the future and is now the present!

22
ETHICS AND SOCIAL RESPONSIBILITY
  • Most business people are ethical but there are a
    few rotten ones.
  • Ex. ADM
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