MKT1705

Principles of Marketing
 Course Outline and Assignments
Please check Canvas for:
• Course Outline incl Schedule
• In-Class Participation Discussion Questions
• Cases and Cover Page/Rubrics
• Lecture 1

Please read through them carefully.

 Group and Seating Arrangement
• Group 1 – 10 to be assigned by Instructor.
• Please sit with your Group in class
• Seating arrangement in classroom remains the
same throughout the semester
• Please create and use your name card in class
weekly
Principles of Marketing
5th Edition

• Course Outline

• Assignments

• Subject Pool Info for

Students
 Grading Components
• Individual Class Participation 20%
• Group Midterm Assignment 20%
• Group Case Study 30%
• Individual Written Assignment 20%
• Subject Pool Participation 10%

100%
* Cases to be assigned
 Group Cases
Group 1 – Din Tai Fung*
Group 2 – Perfect Diary (Chap 17)
Group 3 – Hindustan Unilever (in Chap 5)
Group 4 – OWNDAYS* *Cases have been
Group 5 – TWG Tea* uploaded to Canvas

Group 6 – Yue Sai*

Group 7 – AirBnB (Chap 8)
Group 8 – Disneyland Hong Kong (Chap 9)
Group 9 – Amazon India (Chap 14)
Group 10 – Hema Supermarket*
 Modes of Learning
• Lecture
• Peer teaching and learning
• Participation
• Videos
• Assignment
• Project work
 Class Participation (20%)
• Week 1 is practice, starts from Week 2
• Put up your hands and wait to be called
• Quantity and Quality (each week, your best participation is
counted)
• Prepare your Participation Assignments and Cases given
• Asking questions during case presentation will be considered
participation
• Answering spontaneous questions from instructor will be
considered participation
• Asking questions for clarification is NOT participation
 About Myself . . .
• Janet Liau – call me Ms Liau or Janet (not Prof or Dr)
• Adjunct Lecturer in NUS Business School
• About 20 years of work corporate experience in
broadcast, trade development, consulting, integrated
communications and media sales
• Runs own Production company
 Expectations
• Please read chapter(s) in textbook BEFORE class
• Please prepare participation questions BEFORE
class
• Please listen and participate in class
• Ask questions if you are unclear – email and
during class
 MARKETING:
An Introduction
Ms Janet Liau
Department of Marketing
NUS Business School
National University of Singapore
 Learning Objectives
• Appreciate why marketing is important to
contemporary organizations
• Understand the core concepts of marketing
• Know the basic tasks performed by marketing
managers
• Know the components of the marketing concept
and why they are critical to successful marketing
practice
 ORGANIZATION
1. Definitions
2. Pre-Marketing Concepts
3. Marketing Concept
4. Societal Marketing Concept
5. Customer Relationship Management
6. Marketing Management Process
 Question
• What is marketing?
• Support your answer with an real example of good
marketing.
 DEFINITIONS
• Marketing: Social & managerial process by which
companies create value for customers by satisfying their
needs & wants; build strong customer relationships in
order to capture value from customers in return

• Need: State of felt deprivation

• Want: Form of need shaped by
culture & personality
• Increase demand
 DEFINITIONS – cont’d
• Transaction
– Trade of values between 2 parties
Examples of Marketing Transactions
(a) COMMERCIAL TRANSACTION

Sellers Money Buyers

Goods or Services

(b) EMPLOYMENT TRANSACTION

Productive
Employers Services Wages
Employees

(c) CIVIC TRANSACTION

Taxes &
Police Cooperation Protective Services Citizens
 DEFINITIONS - cont’d
• Product: Anything offered to a market for attention,
acquisition, use, or consumption

• Market: Set of actual & potential buyers for a product

– Consumer
– Industrial
– Government
– International
 What can you market?
(a) product marketing
(b) services marketing
(c) celebrity or personality marketing
(d) idea marketing
(e) destination marketing.
MARKETING MGMT PHILOSOPHIES

Societal Marketing Concept

Marketing Concept

Selling Concept

Product Concept

Production Concept
 PRE-MARKETING CONCEPTS
1. Production Concept
• Focus on production & distribution efficiency
• Assumes consumers prefer products that are
available & highly affordable
• Appropriate when:
- Demand > Supply
- Costs are high & improved productivity will
lower them
• Impersonal, insensitive, “assembly-line”
orientation
PRE-MARKETING CONCEPTS – cont’d
2. Product Concept
• Focus on making continued product
innovations
• Assumes consumers prefer products with
the highest quality, best features &
performance
• Leads to Marketing Myopia
(Overly-narrow definition of business)
PRE-MARKETING CONCEPTS – cont’d

3. Selling Concept
• Concentrate on selling & promotion
• Assumes consumers will not buy enough unless
stimulated aggressively
• Normally used for unsought goods
• “Hard Sell,” unscrupulous image
 MARKETING CONCEPT
• Determine needs & wants of target markets &
delivering them more effectively & efficiently than
competitors

• Create, build, & maintain beneficial exchanges

with target buyers to achieve organizational
objectives
 MARKETING CONCEPT – cont’d
• Focus on Buyer’s Needs vs Seller’s Needs
– Adapt & anticipate changes in consumer needs &
characteristics
Customer Driven vs Customer Driving
 MARKETING CONCEPT
- Recognize needs not just product-based

- Stress regular consumer research & analysis

- Resources allocated to make goods & services

desired by consumers
MARKETING CONCEPT – cont’d
- Long-term brand loyalty inculcated by
meeting & exceeding consumer
expectations

- Recognize that People Buy -- They Don’t

Want to be Sold
Elements of the Marketing Concept
SOCIETAL MARKETING CONCEPT
• Determine needs, wants, & interests of target
consumers & deliver them more effectively &
efficiently than competitors in a way that
preserves/enhances the consumer’s &
society’s well-being
- Maximize Consumer Satisfaction
- Maximize Choice
- Maximize Quality of Life
Customer Relationship Management
• The process of building & maintaining profitable
customer relationships by delivering superior
customer value and satisfaction

• Not everyone is a desirable customer

• Attract, keep, and grow profitable customers
 Customer Relationship Groups
• Enjoy their business • Invest in
• Use promotion to attract relationship
them • Nurture them into
• Do not invest further till True Believers
next time round

• Don’t invest in
them
• Improve profitability
by charging more
• If not profitable,
Bank example “fire” them
 MARKETING
MANAGEMENT
PROCESS
• Multiple stages preceded by Strategic
Marketing Planning
The Marketing Process
 MARKETING MANAGEMENT PROCESS –
cont’d
1. Analyze & Identify Market Opportunities
- Marketing Research & Information Systems
- Marketing Environmental Scanning
- Consumer & Business Markets

2. Research & Select Target Markets

- Measuring & forecasting demand
- Market segmentation, targeting, &
positioning
MARKETING MANAGEMENT PROCESS –
cont’d
3. Develop Marketing Mix (4P’s)

- See next slide for 4 P’s of Marketing Mix

- Product
- Price
- Place (Distribution)
- Promotion
The 4 P’s of the Marketing Mix
MARKETING MANAGEMENT PROCESS –
cont’d

4. Managing the Marketing Effort

- Analysis
- Planning
- Implementation
- Control