Marketing 310

January 25, 2016

What is marketing?
o An organizational function and set of processes for creating, capturing, communication
and delivering VALUE to customers and for managing customer relationships in ways
that benefit the organization and its stakeholders.
o Economic value is the least expensive
o Everything in marketing is always comes back to value
o Stakeholders: investors, employees, company and community
Who uses marketing?
o Marketers
Product
Service
o Non-profit
o Employers
o Stakeholders
o You!
A brief history of Marketing
o Production-Oriented Era
Turn of the 20th century
Ford
o Sales-Oriented Era
1920-1950
Personal Selling and Advertising
GM comes in
o Market-Oriented Era
Post WWII
Buyers Market
Information era
o Value-Based Marketing Era
TODAY!
Thinking about the larger benefits to give to consumers
Looking for alternative ways to value
 January 27, 2016

What is marketing? Marketing Strategy

Peter F. Ducker
o Basic functions of business enterprise:
Marketing: promotion, pricing are part of marketing
Innovation: developing new ideas that are put together to put into an end
product
o Father of management studies

What is marketing? 1. Selecting a target market and determining

the desired positioning of the product in the
How do we capture that value? targets mind
2. Specifying the plan for marketing activities to
What is marketing strategy?
achieve the desired positioning
Five Cs
o Customer Needs
o Company Skills
o Competition
o Collaborators
o Context
STP
o Segmentation
o Targeting
o Positioning
Marketing Mix
o Product
o Place
o Price
o Promotion
Push marketing is pushed from retailers to consumers any advertising message with the firm
in center pushing information to the consumer