McGraw-Hill/Irwin

Copyright 2009 by The McGraw-Hill Companies, Inc. All Rights Reserved.

HOW DO COLLEGE STUDENTS STUDY? A NEW PRODUCT CHALLENGE FOR 3M!

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HOW DO COLLEGE STUDENTS STUDY? DISCOVERING STUDENT STUDYING NEEDS

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3M Post-it Notes or Post-it Flags Felt Tip Highlighters

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3M product that will combine Post-it Notes or Post-it Flags and Highlighters

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HOW DO COLLEGE STUDENTS STUDY? SATISFYING STUDENT STUDYING NEEDS

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Marketing

Marketing is the activity for creating, communicating, delivering, and exchanging offerings that benefit the organization, its stakeholders, and society at large.

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LO1

WHAT IS MARKETING ?
You Are a Marketing Expert Already
Involved in 1,000s of Buying Decisions Some Involved in Selling Decisions

Marketing
Is NOT Easy Affects ALL Individuals, Organizations, Industries, and Countries

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LO1

WHAT IS MARKETING?
DELIVERING BENEFITS

Marketing Seeks to:

Discover Needs and Wants of Customers Satisfy Them

Exchange

AMA Definition of Marketing

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LO1

WHAT IS MARKETING?
DIVERSE FACTORS INFLUENCE MARKETING ACTIVITIES

Organization Itself
Society Environmental Forces

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FIGURE 1-2 A marketing department relates to many people, organizations, and environmental forces

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LO1

WHAT IS MARKETING?
REQUIREMENTS FOR IT TO OCCUR

Parties with Unsatisfied Needs

A Desire and Ability to be Satisfied

A Way for the Parties to Communicate Something to Exchange
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LO2

HOW MARKETING DISCOVERS CONSUMER NEEDS

THE CHALLENGE: NEW PRODUCTS

Consumers May Not Know or Cannot Describe What They Need or Want
Most New Products Fail The Challenge:
Focus on the Consumer Benefit Learn From the Past
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LO2

HOW MARKETING DISCOVERS CONSUMER NEEDS

NEEDS VS. WANTS

Need Want Does Marketing Persuade People to Buy the Wrong Things? Market
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FIGURE 1-3 Marketing seeks to discover then satisfy consumer needs through research and a marketing program

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LO3

HOW MARKETING SATISFIES CONSUMER NEEDS Target Market

The 4 Ps: Controllable Marketing Mix Factors
Product Price
$399

Promotion Place
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LO3

HOW MARKETING SATISFIES CONSUMER NEEDS

Uncontrollable Environmental Forces
Social Economic Technological Competitive Regulatory
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LO4

MARKETING PROGRAM
CUSTOMER VALUE AND RELATIONSHIPS

Customer Value Value Strategies

Best Price Best Product

Best Service
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LO4

Costco and Starbucks

What customer value strategy?

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LO4

MARKETING PROGRAM
RELATIONSHIP MARKETING

Relationship Marketing
Easy to Understand

Hard to Do

Marketing Program

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LO5

HOW MARKETING BECAME IMPORTANT

EVOLUTION OF THE MARKET ORIENTATION

Production Era Sales Era

Marketing Concept Era

Customer Relationship Era
Market Orientation Customer Relationship Management (CRM)

Customer Experience
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FIGURE 1-5 Four different market orientations in the history of American business

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LO5

HOW MARKETING BECAME IMPORTANT

ETHICS AND SOCIAL RESPONSIBILITY

Ethics

Social Responsibility
Societal Marketing Concept Macromarketing Micromarketing
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LO6

HOW MARKETING BECAME IMPORTANT

BREADTH AND DEPTH OF MARKETING

Who Markets? What Is Marketed?

Goods

Services

Ideas
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LO6

HOW MARKETING BECAME IMPORTANT

BREADTH AND DEPTH OF MARKETING

Who Benefits? Who Buys & Uses What Is Marketed?

Ultimate Consumers Organizational Buyers

How Do Consumers Benefit?

Utility
Form Utility Time Utility

Place Utility

Possession Utility

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