Marketing Session 1: Introduction to the course Marketing

orientation and the marketing process

Agenda:
A) Introduction to the course
B) Marketing an introduction
C) The evolution of marketing
D) Key marketing concepts
E) The Marketing process

A) Introduction to the course

- Alberto Marcato
- Office hours Tuesday 2pm, room 564
- amarcati@luiss.it
- Focus: Understanding of markets and customers, Marketing strategy and
Marketing mix, product, price, distribution and communication
- Class participation 10%
- Group project 45%
- Final exam 45%

B) Marketing an introduction:

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
- Old view: telling and selling
- New View: Satisfying Needs

Value Chain Analysis:

Extended Value Chain:

- Understanfin customers
- Creating a superior value propostition
- Delivering and communication the value proposition

Marketing building blocks:

Activities:
- Market research and analysis 

- Competitive intelligence 

- Product development 

- Product design and planning 

- Pricing 

- Communication design and planning 

- Distribution design and planning 

- Services (before, during and after-sale) 

- Planning and monitoring 

- Organization and human resources management

Actors:

- People organizational units

- Communication, advertising, sales, account, trade marketing manager

Resources:
- Tangible: financial, warehouses, transports, ICT structure
- Intangible: Brand, market knowledge, relational and social capital,
- Human: Research, design, sales, services, communication

C. The evolution of marketing:

Marking orientation
1) Production concept: costumers will favour cheap and easily available
2) Product concept: products that offer most quality, performance and
innovation
3) Selling concept: consumers don’t buy an adequate quantity of the
products
4) Marketing concept: costumers choose products on the basis of value and
satisfaction
 Societal marketing concept:
- It is based on the assumption that marketing should deliver value to
customers in a way that maintains or improves the customers and the
society’s wellbeing
- Company need to consider the costumer’s long term interest and society’s
long run interest.

Key Marketing concepts:

1) Need, Wants, Demands
2) Market offering
3) Customers Perceived Value
4) Exchange and Relationship
 5) Market

The Marketing Process

1) Understanding the market place and customer need and wants
a. Research customers and competitors
b. Managing marketing information
2) Design a customer driven marketing strategy
a. Select customers to serve and choose value proposition
3) Construct a marketing program that delivers superior value
a. Marketing Mix
4) Build profitable relationships and create customer delight
a. Customer perceived value (CPV)
b. Customer satisfaction
5) Capture Value customers to create profits and customer quality
a. Value is captured from customers via current and future sales
market share and profits. Lifetime value and share of customer