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Introduction+to+marketing
- 1. Advanced Courses
Lecture 2
By
Eng. Yasser Fouad Abd El Aziz
MBA, BSc, CEng.
Sales & Marketing Director
IBE Technologies
Tel.: (+202) 3372267 – Mobiles: (+2012) 2462228
Fax: (+202) 3371987
E-mail: yasser_fouad@ibetech.com
www.ibetech.com
www.biomed-bahgat.com.eg
©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 1 in Chapter 1
- 2. Introduction to Marketing
“The future isn’t ahead of us.
It has already happened.”
©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 2 in Chapter 1
- 3. Objectives
Understand the new economy.
Learn the tasks of marketing.
Become familiar with the major
concepts and tools of marketing.
Understand the orientations
exhibited by companies.
©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 3 in Chapter 1
- 4. Objectives
Learn how companies and
marketers are responding to
new challenges.
©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 4 in Chapter 1
- 5. The New Economy
Consumer benefits from the digital
revolution include:
– Increased buying power.
– Greater variety of goods and services.
– Increased information.
– Enhanced shopping convenience.
– Greater opportunities to compare product
information with others.
©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 5 in Chapter 1
- 6. The New Economy
Firm benefits from the digital
revolution include:
– New promotional medium.
– Access to richer research data.
– Enhanced employee and customer
communication.
– Ability to customize promotions.
©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 6 in Chapter 1
- 7. Marketing Tasks
Marketing practices may pass
through three stages:
– Entrepreneurial marketing
– Formulated marketing
– Intrepreneurial marketing
©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 7 in Chapter 1
- 8. What Can Be Marketed?
Goods Places
Services Properties
Experiences Organizations
Events Information
Persons Ideas
©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 8 in Chapter 1
- 9. Marketing Defined
Kotler’s social definition:
“Marketing is a societal process by
which individuals and groups
obtain what they need and want
through creating, offering, and
freely exchanging products and
services of value with others.”
©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 9 in Chapter 1
- 10. Marketing Defined
The AMA managerial definition:
“Marketing is the process of
planning and executing the
conception, pricing, promotion,
and distribution of ideas, goods,
and services to create exchanges
that satisfy individual and
organizational objectives.”
©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 10 in Chapter 1
- 11. Marketing =Demand Management
Negative demand Full demand
No demand Overfull Demand
Latent demand Unwholesome
Declining demand demand
Irregular demand
©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 11 in Chapter 1
- 12. 4 Types of Markets
Consumer Markets
Business Markets
Global Markets
Nonprofit and Governmental
Markets
©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 12 in Chapter 1
- 13. Core Marketing Concepts
Target markets and Exchange and
market segmentation transactions
Marketplace, market- Relationship and
space, metamarkets networks
Marketers & prospects Marketing channels
Needs, wants, demands Supply chain
Product offering and Competition
brand Marketing environment
Value and satisfaction Marketing program
©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 13 in Chapter 1
- 14. Core Marketing Concepts
Target markets & segmentation
– Differences in needs, behavior,
demographics or psychographics
are used to identify segments.
– The segment served by the firm is
called the target market.
– The market offering is customized
to the needs of the target market.
©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 14 in Chapter 1
- 17. Core Marketing Concepts
Shopping can take place in a:
– Marketplace (physical entity, Lowe’s)
– Marketspace (virtual entity, Amazon)
Metamarkets refer to complementary
goods and services that are related
in the minds of consumers.
Marketers seek responses from
prospects.
©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 17 in Chapter 1
- 18. Core Marketing Concepts
Needs describe basic human
requirements such as food, air, water,
clothing, shelter, recreation, education,
and entertainment.
Needs become wants when they are
directed to specific objects that might
satisfy the need. (Fast food)
Demands are wants for specific
products backed by an ability to pay.
©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 18 in Chapter 1
- 19. Core Marketing Concepts
A Product is any offering that can satisfy a
need or want, while a brand is a specific
offering from a known source.
When offerings deliver value and
satisfaction to the buyer, they are
successful.
Value = Benefits/Costs
©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 19 in Chapter 1
- 20. Enhancing Value
Marketers can enhance the value of
an offering to the customer by:
– Raising benefits.
– Reducing costs.
– Raising benefits while lowering costs.
– Raising benefits by more than the
increase in costs.
– Lowering benefits by less than the
reduction in costs.
©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 20 in Chapter 1
- 21. Core Marketing Concepts
Exchange involves obtaining a
desired product from someone by
offering something in return.
Transaction involves at least two
things of value, agreed-upon
conditions, a time of agreement,
and a place of agreement.
©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 21 in Chapter 1
- 22. Core Marketing Concepts
Relationship marketing aims to
build long-term mutually satisfying
relations with key parties, which
ultimately results in marketing
network between the company and
its supporting stakeholders.
©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 22 in Chapter 1
- 23. Core Marketing Concepts
Marketing Deliver messages to
Channels and receive
messages from
target buyers.
Communication
channels Includes traditional
media, non-verbal
Distribution
communication, and
channels store atmospherics.
Service channels
©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 23 in Chapter 1
- 24. Core Marketing Concepts
Marketing Display or deliver
Channels the physical
products or
Communication services to the
channels buyer / user.
Distribution
channels
Service channels
©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 24 in Chapter 1
- 25. Core Marketing Concepts
Marketing Carry out
Channels transactions with
potential buyers
Communication by facilitating the
channels transaction.
Distribution
channels
Selling channels
©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 25 in Chapter 1
- 26. Core Marketing Concepts
A supply chain stretches from raw
materials to components to final
products that are carried to final
buyers.
Each company captures only a
certain percentage of the total value
generated by the supply chain.
©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 26 in Chapter 1
- 27. Core Marketing Concepts
Four levels of competition can be
distinguished by the level of product
substitutability:
– Brand competition
– Industry competition
– Form competition
– Generic competition
©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 27 in Chapter 1
- 28. Core Marketing Concepts
The following forces in the broad
environment have a major impact on
the task environment:
– Demographics
– Economics
– Natural environment
– Technological environment
– Political-legal environment
– Social-cultural environment
©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 28 in Chapter 1
- 29. Core Marketing Concepts
The marketing program is developed
to achieve the company’s objectives.
Marketing mix decisions include:
The 4 Ps
– Product: provides customer solution.
– Price: represents the customer’s cost.
– Place: customer convenience is key.
– Promotion: communicates with customer.
©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 29 in Chapter 1
- 31. Core Marketing Concepts
4 Ps 4 Cs
- Product - Customer solution
- Price - Cost
- Place - Convenience
- Promotion - Communication
©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 31 in Chapter 1
- 32. Company Orientations
The orientation or philosophy of the
firm typically guides marketing efforts.
Several competing orientations exist:
– Production concept
– Product concept
– Selling concept
– Marketing concept
– Societal marketing concept
©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 32 in Chapter 1
- 34. The Marketing Concept
Achieving organizational goals
requires that company be more
effective than competitors in creating,
delivering, and communicating
customer value.
Four pillars of the marketing concept:
– Target market
– Customer needs
– Integrated marketing
– Profitability
©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 34 in Chapter 1
- 35. The Marketing Concept
©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 35 in Chapter 1
- 37. Changes in the Marketplace
Globalization, technological
advances, and deregulation have
created many challenges:
– Customers
– Brand manufacturers
– Store-based retailers
Both companies and marketers have
been forced to respond and adjust.
©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 37 in Chapter 1
- 38. Company vs. Marketer
Responses
Company Marketer
- Reengineering - Relationship marketing
- Outsourcing - Customer lifetime value
- E-commerce - Customer share
- Benchmarking - Target marketing
- Alliances - Individualization
- Partner-suppliers - Customer database
- Market-centered - Integrated communications
- Global & Local - Channels as partners
- Decentralized - Every employee a marketer
- Model base decision making
©2003 Prentice Hall, Inc. To accompany A Framework for Marketing Management, 2nd Edition Slide 38 in Chapter 1