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Principles of Marketing MGT C04

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Principles of Marketing MGT C04 Session 1 May 13, 2003 Structure for today: 3 questions Who is this guy? What are we going to do for the next 12 Tuesday evenings? – PowerPoint PPT presentation

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Title: Principles of Marketing MGT C04


1
Principles of Marketing MGT C04
  • Session 1
  • May 13, 2003

2
Structure for today 3 questions
  • Who is this guy?
  • What are we going to do for the next 12 Tuesday
    evenings?
  • Most importantlyhow do I score some rockin
    grades?
  • Whats the big deal about Marketing?
  • An introduction to the context in which Marketing
    fits

3
Who is this guy?
  • R P Kumar
  • B.Sc. Mechanical Engineering, MBA (India)
  • 17 years in marketing/advertising, primarily on
    packaged goods businesses in India, Middle East
    and Canada
  • Vice-President, Director of Global Tools
  • Foote, Cone and Belding
  • At US193MM, 8 in USA revenue rankings
  • At US379MM, among the worlds top ad agency
    brands
  • Member of the Interpublic Group, the worlds
    second largest communications supergroup (over
    US6 Billion)
  • North American clients/brands worked on
  • Kraft Canada Delissio Pizza, Oreos, Chips Ahoy!,
    Kraft Salad Dressings, Crispers, Corn Nuts,
    Jell-O, Cool Whip, etc.
  • SC Johnson Fantastik, Glade, Raid, Pledge,
    Ziploc, etc.
  • Tetley Tea
  • Circuit City

4
Course Goals
  • To outline the marketing function and its role
    within a corporations business strategies, also
    hopefully generating a passion for the Marketing
    discipline and empowering you to evaluate
    Marketing as a possible career choice
  • To introduce you to marketing strategy and to the
    elements of marketing analysis customer
    analysis, company analysis, and competitor
    analysis
  • To familiarize you with the elements of the
    marketing mix (product, pricing, promotion, and
    distribution strategies) and enhance your problem
    solving and decision making abilities in these
    operational areas of marketing tactics
  • HAVE LOTS OF FUN!

5
Text Book
Principles of Marketing Fifth Canadian
Edition Philip Kotler, Gary Armstrong, Peggy H.
Cunningham
6
What are we going to do in the next 12 sessions?
7
and how do I score some really serious grades?
  • Theres no rocket science to getting good grades
  • The secret Work Hard!
  • Individual Evaluation
  • Mid-term Exam 20
  • Final Exam 35
  •  Group Evaluation
  • Group Project and Presentation 35
  • Group Assignment 10

8
Group Project and Presentation
  • Take my advicetake this seriously! This can
    make or break your grade
  • First step give me your groupings in next class
  • Read the course outline carefully for details on
    the project
  • Tip for good grades Try to ensure this project
    is as close to real life as possible

9
What is Marketing?
  • Many definitions, but for the purposes of this
    class well follow Kotler et al
  • Marketing is a social and managerial process by
    which individuals and groups obtain what they
    need and want through creating and exchanging
    products and value with others

10
Role of Marketing in a Business Organisation
  • Marketing co-exists in companies as an equal
    partner with Operations and Finance/Accounting
  • In many organisations, Marketing personnel are
    the natural future leaders (PG, other consumer
    goods marketers)
  • Some companies are naturally attuned to having
    Finance experts (most banks, investment
    companies) or scientists (NASA) or
  • Discussion is Marketing less important in such
    companies?

More than half the polled executives at 250
corporations ranked Marketing as the most
important element of strategy - Yankelovitch,
Skelly and White Survey, 1995 The fastest way up
the corporate ladder is through the Marketing
Department - Economist Survey, 1997
11
Core Marketing Concepts1
  • Needs, Wants, and Demands
  • Products and Services
  • Value, Satisfaction and Quality
  • Exchange, Transactions and Relationships
  • Markets
  • Please go through the definitions from the text
    book
  • Understand the words, the meanings
  • and forget about them!
  • Important to understand that marketing is all
    about conceptsthe clearer they are, the easier
    your lives are going to be
  • Course Note In this course, you will be tested
    on concepts, not as sterile definitions but on
    real-life application

12
Core Marketing Concepts2
  • Needs, Wants, and Demands
  • Discussion whats the difference between these?
  • Discussion why is it important to understand the
    difference?

13
Core Marketing Concepts3
  • Products and Services
  • Discussion
  • Whats the difference?
  • Can services be made into products?
  • Can products be made into services?

14
Core Marketing Concepts4
  • Value, Satisfaction and Quality
  • Discussion how would you calculate consumer
    value in
  • Consuming a can of Coca-Cola?
  • Joining a health club?
  • Buying a lottery ticket?
  • Enjoying a massage at a spa?
  • Discussion think of talk about an experience
    where as a consumer, you felt
  • Satisfied with the value you received?
  • Dissatisfied with the value you received?

15
Core Marketing Concepts5
  • Exchange, Transactions and Relationships
  • Discussion an example of a non-monetary business
    transaction in our day-to-day life
  • Recently, as the owner of a particular brand of
    car, my friend received an invitation to an
    exclusive preview of their new luxury car,
    accompanied by cocktails and hors doeuvres
  • What is the company trying to do?
  • How will it help themimmediately and in the
    future?
  • The ultimate marketing asset an entire marketing
    network

16
Core Marketing Concepts2
  • Markets
  • No longer defined as a physical space where
    transactions take place
  • In this course, when we refer to Market, it is
    in the sense of a collection of buyers and
    sellers in a particular need area, e.g. the
    housing market, or the commodity market
  • Discussion name three markets

17
Marketing Management Practice
  • Three stages
  • Discussion think of examples (from your own
    lives or reading/knowledge), of companies/
    individuals who are involved in the three forms
    of Marketing Management Practice
  • Entrepreneurial
  • Formulated
  • Intrapreneurial

18
Evolution of Business Models and the role of
Marketing
As business philosophy has evolved, so has the
role of marketingcustomer satisfaction is now at
the core of most successful corporations
19
The Marketing Concept itself has evolved
20
How does Marketing fit into our lives today?
  • Technological advances have allowed us to connect
    even more strongly with
  • Customers
  • Marketing Partners
  • World in general
  • Discussion how has the Internet impacted the
    role of marketing in your own lives?

21
Recap
  • Today weve covered Chapter 1 of the text
  • Weve reviewed definitions of some basic
    conceptsremember we have not yet reached the
    marketing terminology we will be dealing with for
    the majority of the course
  • Theres lots to come and lots to learnthe fun
    has just begun!
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