MARKETING

PRINCIPLES
Meeting 1
 Schedule for today

■ Course Introduction
■ Canvas tour
■ Get to know each other
■ Introduction to Marketing
■ Break
■ Preparation Activity
■ Activity in small groups
■ Wrap up Activity with entire class
■ What have we learned today?
 COURSE
INTRODUCTION
Part 1
Course Objectives

Course Objective: Give you a broad introduction to the principles of marketing.

Learning Objectives:
■ Understand marketing principles and how they are used to develop a marketing
strategy (Competences 6, 7)
■ Apply elements of the marketing mix to solve straightforward marketing
problems. (Competences 6, 7)
■ Characterize the buyer experience and explain its relevance to marketing
strategy (Competences 4, 6)
■ Discuss the connection between corporate strategy and marketing
(communication) strategy. (Competences 4, 7)
Marketing
Principles
o 10 weeks

❖ 7 weeks: 2 x 2 hours tutorial

❖ Mix of f2f and online learning
❖ Requires independent learning!
Your tasks and Weekly
responsibilities activities
■ In class
– Case analysis in small teams
Become a young professional – Activities to apply learning
• Be on time – Lectures from the lecturer
– Opportunity for Q&A
• Prepare every lesson

• Be respectful of your teacher ■ Out of class assignments

and classmates – Watch videos
• English only please – Read chapter
– Prepare assigned (group) case
• ASK QUESTIONS! – Bring relevant marketing examples
to class
Class structure Timetable

Weekly presentations by group We will have one 10 minute break

from Week 2 Class is two hours long
Lectures If you need the restroom, please exit the
room quietly (you do not need to ask
Class discussions permission)

Case study discussions

Group or individual activities

 Preparing for Class

■ You are allowed to work together in your Learning Team on the class
assignments
■ However, the exam is individual so you must also be able to understand and
apply all the concepts alone.
■ Recommendation is to first do the cases alone and ask for help from the
learning team as needed
■ It can be helpful to discuss the information in the videos and in the
readings in your Learning Team to help you better understand the concepts
Principles of Marketing
for a Digital Age
© Tracy L. Tuten
ISBN 978-1-5264-2334-4
Exam in Week 9

Open Book exam (at school or online at home TBA)

Open questions requiring you to APPLY knowledge

Based on scenarios or cases just like we will practice in class and in our out of
class assignments
Exam tips: how to prepare

Step 1: Come prepared!

Step 2: Come to class & actively participate

Step 3: Use the concepts you’ve learned during preparation and in class activities

Step 4: Review the slides and material on Canvas

Step 5: Look around you, do you recognize what we talk about during class?
Let’s get to know each other
Part 2
I am …
Who are you?
What is your favorite brand?
■ Name? Where are you from?
■ What is a brand you admire?
■ Why does this brand inspire you?
■ What is it about this brand’s “Personality” that makes it stand out to you?
PREPARATION – ACTIVITY ONE
Part 3
 What is marketing?

The activity, and processes for creating,

communicating, delivering, and exchanging
offering that have value for customers, clients,
partners, and society at large.

According to the American Marketing Association

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What is marketing? What are the
core concepts of marketing?
■ Utility - is the state of being beneficial.
■ Benefits - advantages or desirable outcomes.
■ Motives – beliefs that buying a certain product will provide the necessary
utility to meet a need.
In the context of marketing, products benefit customers by providing utilities
that meet customer needs.
From the customer’s perspective, utility could relate to any need state –
functional, physical, emotional, and social.

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WHAT ARE THE SEVEN P’S OF
THE MARKETING MIX?
Product
A product is an entity offered for sale.

Its form may manifest a core benefit

or utility of value. They may be
tangible or intangible.

Examples: goods, services,

experiences, events.

Product decisions in the marketing

mix also encompass product design,
features, packaging, and branding.
Price
Price is the assignment of value
required for an exchange to occur.

When customers evaluate a product

for possible purchase, they consider
its perceived value against the asking
price.

Price decisions incorporate demand,

perceived value, price comparisons,
mental accounting, costs, price
strategy, discounts, allowances, and
financing options.
Place
Place refers to the channel of
distribution used to make the product
available for purchase.

Place decisions encompass

distribution, directness of channels
and use of intermediaries, retail
settings, geographic proximity to the
customer, online/offline, multi-
channel/omnichannel, inventory
management, and fulfillment.
Promotion
The promotional mix includes all the
activities and communication
channels marketers may use to
communicate with prospects and
customers.

It includes advertising, public

relations, social media, marketing,
selling, direct marketing, events and
experiences, and can utilize many
forms of media.
People
People Who Make the Products (R&D,
Design, etc.)

People who bring the products to the

customers.

People who talk to the customers (sales,

costumer service, etc)

The overall customer experience.

Customer relationship management.

It also embraces the internal marketing

(marketing within the organization,
especially to employees)
Process

Process design can influence the

customer experience and satisfaction with
the outcomes.

Service marketers' “blueprint” the service

to identify possible improvements.

CJM, CX
Presence
Presence includes the characteristics that
influence perceptions of the marketing
environment.

Tangible evidence in the form of sensory

cues to support the underlying promises
when marketing services.

Marketers build environments of sensory

cues (auditory, visual, touch, smell,
movement).

By designing ambient conditions, spatial

layout/functionality, sounds, scents, and
signs and symbols.
The 7Ps in the marketing mix

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The industrial revolution
Marketing
orientations and
the industrial
revolution
Each marketing era’s
orientation mirrors the stage of
the industrial revolution it
follows.
Industry 1.0
introduced
efficiencies in
production.
Demand was bigger then supply in
many product categories.

Trade era.
The moving
assembly lines of
Industry 2.0
increased supply
and resulted in more
competition.
Production era emphasized
functional benefits.

The selling valued persuasion to

push products and convince
prospective buyers.
Industry 3.0 saw the
development of
computers and
robotics and marked
an age of
information.
The marketing concept era
identifying and meeting the needs
of target markets and doing so
better than competitors.

Mottos of the marketing concept

include “Find a need and fill it!”
and “The customer is king”.
Technological
convergence is a
major driver for the
advanced
innovations of
Industry 4.0.
We have entered the era of
marketing convergence.
Convergence is when two or more
things come together to form a
new whole.
■ Convergence examples:

– Smartphones are a great example . The innovation resulted

from converging mobile phones, the Internet connectivity of
laptops, digital cameras, and mp3 players.
■ Technological convergence examples: (. technological
convergence may converge with another technology, device, or
context)
– Amazon’s drones
– Self-driving cars
– Virtual reality headsets

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Martech stack

Any business' MarTech Stack is a selection of tools chosen to

make marketing operations and processes more effective and
efficient.

Tools can incorporate SaaS platforms, social media tools, content

management systems, analytics tools and many other types,
dependent on the business in question.

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41
Work Session: 35 minutes
Each group will choose a different supermarket and discuss the following
questions in your group.

You can use your own knowledge as a customer, visit the website and/or search
for general information about your assigned supermarket to help you answer the
questions.

• Identify each P in their marketing mix.

• What are the key differences (if any) between different supermarkets? Is there
one who is doing things better than their competition? Why?

• Explain the importance of technology in offering a marketing mix that is

superior to that of its competition (see Power Point on MarTech)

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THANKS FOR YOUR
PARTICIPATION
See you next class