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Welcome to the Class

Welcome

• Marketing – Overview
• Everyone is doing marketing – formally / informally

• Introductions
• Name / Education / Achievements
• Last wish !
Rules

• Punctuality
• Newspapers / Aurora Magazine
• Cells should be on silent
CR
CR

• Groups (list is due next week)

• Case Studies / Articles

• What’s app Group

Outlines

• Course Outline

• Term Project Outline (will be given later)

 What is Marketing?
 Marketing is the activity, set of institutions, and
processes for creating, communicating,
delivering, and exchanging offerings that have
value for customers, clients, partners, and
society at large.

Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 1-7

 What is Marketed?
• Goods (products)
• Services
• Events
• Experiences
• Persons
• Places
• Properties
• Organizations
• Information
• Ideas
Selling is only the tip of the iceberg

“There will always be a need for

some selling. But the aim of marketing is
to make selling superfluous. The aim of
marketing is to know and understand the
customer so well that the product or
service fits him and sells itself. Ideally,
marketing should result in a customer
who is ready to buy. All that should be
needed is to make the product or service
available.”
Peter Drucker
Markets
 Consumer markets / Business Markets

 Market place
 Market Space
 Meta Markets
 Cluster of complementary products and services closely related in the
minds of consumers, but spread across a diverse set of industries.
 Metamarkets are the result of marketers packaging a system that
simplifies carrying out these related product/service activities.
 The automobile metamarket consists of automobile manufacturers, new
and used car dealers, financing companies, insurance companies,
mechanics, spare parts dealers, service shops, auto magazines,
classified auto ads in newspapers, and auto sites on the Internet.
Core Concepts
 Needs, wants, and  Value and
demands satisfaction
 Target markets,  Marketing channels
positioning,  Competition
segmentation  Marketing
 Offerings and environment
brands
 Needs. Wants. Demands.
Needs
states of felt deprivation including physical needs for food, social needs for belonging
and individual needs for self-expression.

Wants
Demands

Types of needs
Stated needs (The customer wants an inexpensive car.)
Real needs (The customer wants a car whose operating cost, not initial price, is low.)

Unstated needs (The customer expects good service from the dealer.)

Delight needs (The customer would like the dealer to include an onboard GPS

navigation system.)
Secret needs (The customer wants friends to see him or her as a savvy consumer.)
Segmentation, Target Markets,
& Positioning
 Offerings and Brands
Companies address customer needs by putting forth a value
proposition, a set of benefits that satisfy those needs.

The intangible value proposition is made physical by an offering,

which can be a combination of products, services, information, and
experiences.

A brand is an offering from a known source.

 Value and Satisfaction
Service, Quality and Price
Marketing Channels

Communication

Distribution

Service
Broad Marketing Environment

Demographic Economic

Socio-cultural
Political-legal

Technological Natural
Company Orientations

Production

Product

Selling

Marketing
 Holistic Marketing

Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 1-19

Performance Marketing

Financial Social Responsibility

Accountability Marketing
The Marketing Mix
The Four Ps
The New Four Ps
People
• It reflects internal marketing and the fact that that employees
are critical to marketing success.

Processes
• It reflects all the creativity, discipline, and structure brought to
marketing management.

Programs
• It reflects all the firm’s consumer-directed activities. 4ps

Performance
• Financial and nonfinancial implications (profitability as well as
brand and customer equity), and implications beyond the
company itself (social responsibility, legal, ethical, and
community related).
Video – Marketing
A Plan to reinvent the
marketing we need today !
 A Plan to reinvent the marketing
 Bridge the disciplinary silos.
 Finance and Marketing lives in different worlds

 Behavioral and Quantitative Approach

 Products don’t compete with products, marketing

networks compete with marketing networks.

 Let customers co create. (Cars, Zong, Subway)

 Customer branded solutions such as Nike + ipod

 A Plan to reinvent the marketing
 Be creative. Use different channels according to the
target audience.
 Avon – personal selling

 Toyota Scion - events

 Priceline.com – you price it

 Coke – viral marketing

Questions ?