Welcome to Intro to Marketing

Who is this guy?

Qiyuan Wang
Has a Bachelor, Master, and PhD degree in marketing
Is doing research in marketing
Has taught in marketing

Came to Hong Kong in 2021

Is trying to learn Cantonese
But is very bad
What we learn today?
▪ Definition of marketing

▪ Course arrangement
Why study marketing?
You can use marketing to

Complement your major Understand society Achieve personal goals

What is marketing?

IS Data

Accounting Transactions

HR Employees
Firm

Operation Suppliers

Marketing Customers
What is marketing?
Marketing is the process by which companies
• create value for customers and build strong customer relationships
• in order to capture value from customers in return.
How to do marketing?
A simple model of marketing process
How to do marketing?

Needs: State of felt deprivation

Wants: The form human needs take as they are shaped by culture and individual personality
Demands: Human wants that are backed by buying power.
How to do marketing?

Needs: I am thirsty Wants: I want some drinks Demands: I can buy 2 cokes
How to do marketing?

Maslow’s Hierarchy of Needs

How to do marketing?

STP strategy: segmentation, targeting, and position

• Segmentation and targeting: Select the customers to serve
• Position: The set of benefits or values it promises to deliver to consumers to
satisfy their needs
How to do marketing?
Targeting with information technology
How to do marketing?
Targeting in the US presidential election (2016)
How to do marketing?

Marketing mix (4Ps): Set of tools the firm uses to implement its marketing strategy
• Product
• Price

• Place

• Promotion
How to do marketing?

4p: product, price, place, and promotion

Product: Create a market offering that could meet and address customer needs
How to do marketing?

Price: how much it will charge for the offer

How to do marketing?

Place (channel): How it will make the offer available to target customers
How to do marketing?

Promotion: Communicate with target customers about the offer and persuade
them of its merits
How to do marketing?

Customer Relationship Management (CRM): The process of building and

maintaining profitable customer relationships by delivering superior customer
value and satisfaction
How to do marketing?

Customer perceived value: The customer’s evaluation of the difference between

all the benefits and all the costs of a market offering relative to those of competing
offers
How to do marketing?

Customer satisfaction: The extent to which a product’s perceived performance

matches a buyer’s expectations
How to do marketing?

Creating Customer Loyalty and Retention:

• Customer lifetime value :The value of the entire stream of purchases that a customer would make over
a lifetime of patronage
• Share of customer: The portion of the customer’s purchasing that a company gets in its product
categories
How to do marketing?
My value to Amazon in 2019:

Total purchase
• 25 purchases
• CAD $936.59 (HKD $5770)
How to do marketing?
Gift card for presentation in intro to marketing
Socially and environmentally responsible marketing
Marketing
• meets the present needs of consumers and businesses
• preserve or enhance the ability of future generations to meet their needs.
Socially and environmentally responsible marketing
Change of fast food industry
Class Logistics
Teaching format
First two weeks: hybrid
• Study online or
• Study in the classroom
How we talk
Questions, comments, thoughts, and suggestions welcomed!

You can reach me through

• Emails (reply within 24 hours)
• Phone
• Drop by my office

Use blackboard chat

How are you graded?
Take-home examination→50%

Group presentation→25%
• Group determined next week

Individual essay→15%

Class participation→10%
• No attendance tracked
• Please say something