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Principles of Marketing

Dr. Do Khac Xuan Diem

Email: diem.dkx@ou.edu.vn

What do you
expect to learn
from this
subject?

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Learning outcomes

Explain key concepts, principles, process of marketing.

Describe the roles of marketing in relation to other business functions

within an organization.

Suggest ethical and creative solutions to marketing related problems in

business contexts.

Work and communicate effectively as an individual or in teams.

Learning schedule
Week Teaching and Learning Activity Student Task/Assessment
1 Chapter 1 – An overview of marketing
2 Chapter 2 – Corporate strategies and marketing planning

3 Chapter 3 – Marketing environment

4 Chapter 4 – Marketing information system
5 Chapter 5 – Buyer behaviour

6 Chapter 6 – Customer-driven marketing strategy

7 Chapter 7 – Product strategy and branding
8 Chapter 8 – Pricing strategy

9 Chapter 9 – Marketing channels

10 Chapter 10 – Integrated marketing communication Assignment and presentation
strategy 4

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Assessment overview
Tasks Individual/Group Weighting Notes

Multiple choice questions (LMS) Individual 10% Every chapter

(10 questions/15 minutes)
Discussion (LMS) Individual 10% Depend

Assignment Group 30% Submitting

Developing a new product (Essay: 20%, and
Presentation: presenting in
10%) Week 10
Final test Group 50%
Building a marketing plan for
launching the new product into the
market.
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Textbooks
Textbook
Kotler, P., & Amstrong, G., & Opresnik, M.O., (2017). Principles of
marketing. Global edition UK: Pearson Education limited. [658.8 /
K874]
References
Perreault William D., Cannon Joseph P., McCarthy - Essentials of
Marketing - McGraw-Hill 2012 [658.8]
William M. Pride and O.C. Ferrel (2016). Marketing 2016, Cengage
learning [658.8 / P9476]

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Chapter 1
An overview of Marketing

Learning objectives

• Objective 1: Define marketing and outline the steps in the marketing process.

• Objective 2: Explain the importance of understanding the marketplace and

customers and identify the five core marketplace concepts.

• Objective 3: Identify the key elements of a customer-driven marketing strategy

and discuss the marketing management orientations that guide marketing
strategy.

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Learning objective 1:

Define marketing and outline the

steps in the marketing process

What is marketing?

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What is marketing?

Telling and Selling Advertising

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What is marketing?

Advertising
Telling and Selling
Sales Promotion
Public Relations

Marketing mix strategies

Target customers
Customers’ needs
Marketing Research

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Marketing management

Marketing

Customer
engagement
Customer
relationship
Customer loyalty

Customer
satisfaction
Customer
purchase

1990s 2000s 2010s

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What is marketing?

Marketing is the process by which marketing organisations engage

customers, build strong customer relationships and create customer value
in order to capture value from customers in return (Amstrong et al., 2020).

Marketing is engaging customers and managing profitable customer

relationships (Kotler and Amstrong, 2017).

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What is marketing?

Motto ‘Taste the feeling’ ‘Connect and share with the people in
‘Make everyday moments more special’ their lives’

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The marketing process

Create value for customers and Capture value from

build customer relationships customers in return

Engage
Construct an Capture
customers,
Design a integrated value from
Understand the build
customer marketing customers to
marketplace and profitable
value-driven program that create profits
customer needs relationship
marketing deliver and
and wants and create
strategy superior customer
customer
value equity
delight

Amstrong et al., 2020

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Reflect yourself
What does marketing mean to you?
How does it affect your daily life?

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Learning objective 2:

Explain the importance of

understanding the marketplace
and customers and identify the five
core marketplace concepts.

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Customer needs, wants and demands

Needs: Hungry Demands: Rice

States of felt Human wants
deprivation backed by buying
Wants: Noodle, Hamburger, Bread, Rice power
Physical, social, The form human needs take shaped by
individual needs culture and individual personality 20

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Market offerings: Goods, services and experiences

Goods Services Experiences

Marketing offerings
Some combination of goods, services,
information or experiences offered to a
market to satisfy a need or want.
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Market offerings: Goods, services and experiences

Marketing myopia
The mistake of paying more attention to the
specific products a company offers than to the
benefits and experiences produced by these
products.

Look beyond attributes of the

product by focusing on benefits and
experiences for customers.
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Customer value and satisfaction

Customers Value: benefits of the product

A comparison between costs and
• Value and benefits
satisfaction Satisfaction:
A comparison between product
performance and customer
expectations.
Marketers
• Set the right
level of
expectations

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Exchanges, transactions and relationships

Exchange:
The act of obtaining a desired object from
someone by offering something in return.
Transaction:
A trade between two parties that involves at least
two things of value, agreed-upon conditions and a
time and place of agreement.
Relationship:
Building relationships with
customers by consistently delivering
superior value to customers.
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Markets
Market
The set of all actual and potential buyers of a product or service.

Elements of a modern marketing system

Company
Marketing Final
Suppliers Intermediaries consumers

Competitors

Major environmental forces

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Learning objective 3:

Identify the key elements of a

customer-driven marketing strategy
and discuss the marketing
management orientations that guide
marketing strategy.

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Designing a customer-driven marketing strategy

Should we serve all customers?

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Designing a customer-driven marketing strategy

Marketing management
The art and science of choosing target markets and building profitable relationships
with them.
A marketing strategy

How can we serve

What customers
these customers
will we serve?
best?

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Designing a customer-driven marketing strategy

• Selecting customers to serve (Who is our target market?)

Market segmentation Target market

Dividing the market into segments of Refer to which segments to go after
customers
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Designing a customer-driven marketing strategy

• Choosing a value proposition (What is our value proposition?)

A brand’s value
proposition is the set of
benefits or values it
promises to deliver to
customers to satisfy
their needs.

The value proposition: Airbnb’s ‘Don’t go there. Live there’ is a call to action for its
target market to experience the world as a local would.
Kaspars Grinvalds/Shutterstock.com
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Designing a customer-driven marketing strategy

• Marketing management orientations
Societal
marketing
Marketing concept
concept A company’s
Selling Achieving marketing
concept organisational decisions should
Product Consumers will goals depends consider
concept not buy enough on knowing the consumers’
Production Consumers favor products unless needs and wants wants, the
concept products that the firm of target company’s
Consumers favor offer the most undertakes a markets and requirements,
products that quality, large-scale delivering the consumers’
are available performance selling and desired long-run
and affordable. and features. promotion satisfactions interests and
effort. better than society’s long-
competitors. run interests.
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Designing a customer-driven marketing strategy

Kotler and Amstrong, 2016

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Designing a customer-driven marketing strategy

Society
(Human welfare)

Societal
marketing
concept

Consumers Company
(Want satisfaction) (Profits)
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Preparing an integrated marketing plan and program

The marketing mix is the set of tools (four Ps) the firm uses to implement
its marketing strategy. This set includes product, price, promotion, and
place. Extended 3Ps include people, process and physical evidence.

An integrated marketing program is a comprehensive plan that

communicates and delivers the intended value to chosen customers.

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Preparing an integrated marketing plan and program

Product: Goods, Services Price People
and Experiences List price ‘People interacting with
Discount people’ is how many
Variety Packaging
Allowances service experiences might
Quality Sizes
Settlement and be described.
Design Add-ons
credit terms Relationships are
Features Warranties
important in marketing.
Brand name Returns
Target customers
Amstrong et al., 2020
Intended positioning

Placement Process
Promotion In case of high- Physical evidence
Demand chain
Advertising contact services, Services are mostly
management intangible. The meaning of
Personal selling customers are
Logistics often involved in other tools and techniques
Direct marketing
management process of creating used in measures of
Online marketing
Channel and enjoying satisfaction is important.
management experiences. 35

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References

Kotler, P., & Amstrong, G., & Opresnik, M.O., (2017). Principles of marketing.

Global edition UK: Pearson Education limited.

Perreault William D., Cannon Joseph P., McCarthy - Essentials of Marketing -

McGraw-Hill 2012.

Amstrong et al. (2020). Principles of Marketing Ebook, Pearson Education

Australia.
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Video

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