Professional Documents
Culture Documents
Introduction to Marketing
Principles (MKTG1205)
course
Self-introduction
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Lecturer’s Expectation, Class Rules, and Course
Policy
• Please come to join every class and attend your classes on time.
• Please stay tuned and focused during all classes
• You must attend the class you are enrolled in.
• If you want to change class, you must do it officially through student timetabling.
• Email response: your lecturer will respond to you within 24 hours (unless your
lecturer has some emergency), and your lecturer may not check your email at the
weekend. Please consult your lecturer for more information.
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Group Assignment
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Course Learning Outcomes
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Course Assessments
1. Individual Reflection (20%)
• Topics covered: Topic 1, 2, 3
• Task: Students will write a piece of reflection of your learning experience of the topics covered in topic 1 to topic 3 and
relate them to your personal experience. This assignment will help students see the importance and relevancy of
marketing in daily life. It also improves students’ critical thinking about the application and impact of marketing in real-
life practices.
2. Group Marketing Plan Presentation (40%)
• Topics covered: Topic 1, 2, 3, 4,5, 6
• Task: This assignment involves applying the theories learnt in class to a real company operating in Vietnam. You will
analyse the marketing environment, SWOT, and customer-driven marketing strategies, and identify the main issues
the company is facing. Then, you will analyse the marketing mix (excluding the Promotion topic) and give
recommendations to your company. Finally, your team will need to deliver the oral presentation.
3. Individual Final Marketing Project (40%)
• Topics covered: All
• Task: Students will be given a marketing context. Students will apply the concepts learnt in the course to identify,
analyse, and evaluate a brand/company's current marketing performance. Based on these evaluations, students will
recommend marketing strategies and tactics for the brand/company in response to the given marketing context.
Note: Check all assessments’ due dates on Canvas (www.rmit.instructure.com)
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References and Plagiarism – Must read!
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Sharing from Phuong Anh, Digital Marketing
student
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Topic 1
Introduction to
Marketing Principles.
Managing Profitable
Customer Relationships
Learning Objectives
1. Define Marketing and outline the stages in the simple model of marketing process. Briefly
introduce each stage of the marketing process
2. Explain the importance of understanding customers and the marketplace, and identify the
five core marketplace concepts
3. Identify the key elements of a customer-driven marketing strategy and discuss the
marketing management orientations that guide marketing strategy
4. Discuss customer relationship management, and identify strategies for creating value for
customers and capturing value from customers in return
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What is Marketing?
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What is Marketing?
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Activity | Talk & Share (15 minutes)
Say “Hello” to your new friends.
Another version of "Reusable Cup" is ready to capture the moments of love!
Visit this page: From February 13th to February 21st, 2022, with any purchase of a handcrafted
beverage, Starbucks Rewards members can own (1) lovely Reusable Cup when
https://www.facebook.com/starbucksvietnam/photos/a.5 paying an additional VND 10,000 (Gold members) and VND 20,000 (Green
20901644616999/7236447569729006/ Members).
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5 core customer and marketplace concepts
• Wants are the form human needs take, as they are shaped
Wants by culture and individual personality.
• Wants are described in terms of objects that will satisfy needs.
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Market Offerings: Goods, services, and experiences
• Consumers’ needs and wants are fulfilled through a market offering – some
combination of products, services, information, or experiences offered to a
market to satisfy a need or want.
• Marketing offerings are not just limited to physical products, they also include
services, activities or benefits offered for sale that are essentially intangible and do
not result in the ownership of anything.
Source: Kotler et al. (2017, p. 7), Closeup (2021), Ovenmaru Chicken (2020) &
23 Gacmini Hair Spa (2021)
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 derived from these products.
• It is when the company is focusing only on existing wants and losing sight of
underlying consumer needs.
• Avoid marketing myopia by focusing on product benefits and customer needs
Read the Case Study HERE Read the Case Study HERE
• Customers form expectations about the value and satisfaction that various market
offerings will deliver, and buy accordingly.
• Creating the balance between customer expectations and the marketers’ ability to
deliver on value
Customers
• Value and satisfaction
Marketers
• Set the right level of expectations
• Not too high or low
Source: Kotler et al. (2017, p. 7)
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Exchanges, transactions, and markets
Exchange:
• The act of obtaining a desired object from someone by offering something in return.
• Marketing occurs when people decide to satisfy needs and wants through exchange relationships.
E.g. A political candidate wants votes, a singer wants audience, Vlogger wants views, etc.
Transaction:
• A trade between two parties that involves at least two things of values, agreed-upon conditions,
and a time and place of agreement.
• A transaction is marketing’s unit of measurement.
• In a transaction, we must be able to say that one party gives X to another party and gets Y in return.
E.g. If you pay $1,000 for a smartphone to The Gioi Di Dong in HCMC, you are engaged in a classic monetary
transaction
Market: The set of all actual and potential buyers of a product or service.
• These buyers share a particular need or want that can be satisfied through exchange relationship.
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Designing a customer-driven marketing
strategy
Marketing Management is defined as the art and science of choosing target markets
and building profitable relationships with them. The marketing manager’s aim is to find,
attract, keep, and grow target customers by creating, delivering, and communicating
superior customer value.
• The company must also decide how it will serve targeted customers – how it will
differentiate and position itself in the marketplace.
• A company’s value proposition is the set of benefits or values it promises to deliver
to consumers to satisfy their needs.
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Preparing an Integrated Marketing Plan and
Program
The major marketing mix tools are classified into four broad groups, called the four Ps of
marketing: Product, Price, Place, and Promotion. To deliver on its value proposition, the
firm must:
• create a need-satisfying market offering (product);
• decide how much it will charge for the offer (price);
• Decide how it will make the offering available to target consumers (place);
• and communicate with target customers about the offer and persuade them of its
merits (promotion).
The firm must blend all of these marketing mix tools into a comprehensive, integrated
marketing program that communicates and delivers the intended value to chosen
customers.
Source: Kotler et al. (2017, p. 14)
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Stage 4:
Building Customer Relationship
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Customer Relationship Management (CRM)
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Example: dissatisfied customers
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Creating Customer Loyalty and Retention
Customer lifetime value is the value of the entire stream of purchases that the
customer would make over a lifetime of patronage.
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Reference List (2)
• Heineken 2020, Heineken | Connections, Youtube, 5 May, Heineken, viewed 20 February 2021, <https://www.youtube.com/watch?v=WZnHkv5-
z4k&feature=emb_title>.
• i24NEWS English 2018, Burger King Makes a Whopper of a Football Mistake, Youtube, 21 June, viewed 20 February 2021,
<https://www.youtube.com/watch?v=HcSxq_fkTFI>.
• IKEA Espana 2020, Your house has something to tell you - Anuncio IKEA, Youtube, 18 March, viewed 20 February 2021, <https://www.youtube.com/watch?
v=zg0Hei0cjl0&feature=emb_title>.
• Jarboe, G 2020, Brands looking awful during Coronavirus pandemic, Search Engine Journal, viewed 20 June 2020,
<https://www.searchenginejournal.com/brands-looking-awful-during-coronavirus-pandemic/360970/#close>.
• Koenig, D 2017, US won't punish United over passenger-dragging incident, WJLA, viewed 20 February 2021, <https://wjla.com/news/nation-world/us-wont-
punish-united-over-passenger-dragging-incident-09-07-2017>.
• Kotler, P, Armstrong, G, Ang, SH, Tan, CT, Yau, OHM & Leong, SM 2017, Principles of Marketing, An Asian Perspective, Pearson Education Limited, Harlow,
United Kingdom.
• Lifebuoy Vietnam 2020, Vũ điệu 6 bước rửa tay đúng cách vui nhộn - Cùng Lifebuoy phòng chống virus Corona (2019-nCoV) , Youtube, 13 February, viewed
20 February 2021, <https://www.youtube.com/watch?v=wg2GfIgLpes&feature=emb_title>.
• Lush 2020, Homepage, Lush, viewed 20 June 2020, <https://uk.lush.com/>.
• National Science & Technology Medals Foundation 2017, An Evening with Steve Sasson at USF, National Science & Technology Medals Foundation, viewed
20 February 2021, <https://nationalmedals.org/stories/aewss/>.
• NBC News 2017, U.S. Won't Punish United for Dragging Passenger Off Plane, NBC News, viewed 20 February 2021,
<https://www.nbcnews.com/news/asian-america/u-s-won-t-punish-united-airlines-over-passenger-dragging-n799556>.
• Reynolds, E 2015, Instant noodle queen building Africa’s future with food revolution, news.com.au, viewed 22 February 2021,
<http://www.news.com.au/lifestyle/food/eat/instant-noodle-queen-building-africas-future-with-food-revolution/news-story/
44ceaf9b8ea1f47d9f8325649d3290dc>.
• Sally 2016, The JetBlue Story: Customer Service in an Industry Americans Hate, viewed 01 January 2019, <https://sharpencx.com/blog/jetblue-customer-
service/>.
• Sprouts 2017, Maslow's Hierarchy of Needs, Youtube, 6 January, viewed 25 February 2021, <https://www.youtube.com/watch?v=O-4ithG_07Q>.
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Preparation for this course
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Thank you!
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