Marketing A good reference from many reliable resources of information

1. Rami Ibrahim El Khoury

6. FIGURE 1.1

9. Product Distribution Promotion Pricing Goods, services, or ideas that satisfy customer needs The ready, convenient, and timely availability of products Activities that inform customers about the organization and its products Decisions and actions that establish pricing objectives and policies and set product prices

13. Product Orientation Sales Orientation Marketing Orientation Late 19th century: efficient production of goods allowed firms to meet strong customer demand. Mid-1920s – early 1950s: weakened demand required that products would have to be “sold.” (personal selling, advertising, and distribution was the focus) Early 1950s –2000s : adopting a customer focus means a commitment to researching and responding to customer needs. FIGURE 1.3

25. Supplemental Slides Copyright © Houghton Mifflin Company. All rights reserved. 1 –

32. Source: Investor’s Business Daily, Wednesday, September 5, 2001, p. A6. Used with Permission.

33. Transparency Figure 1I Starting Salaries for College Graduates Source: American Demographics, December 2000, p. 27. Adapted with permission.

37. plus A Philosophy An Attitude A Perspective A Management Orientation A Set of Activities, including: Products Pricing Promotion Distribution

38. 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 goals.

39. Desire to Deal With Other Party Freedom to Accept or Reject Something of Value Ability to Communicate Offer At Least Two Parties Necessary Conditions for Exchange

40. The Concept of Exchange The idea that people give up something to receive something they would rather have.

43. Marketing Management Can you name the four marketing management philosophies?

44. Competing Philosophies Production Sales Market Societal Marketing

45. Philosophy Key Ideas Production Sales Market Societal Focus on efficiency of internal operations Focus on satisfying customer needs and wants Focus on satisfying customer needs and wants while enhancing individual and societal well-being Focus on aggressive techniques for overcoming customer resistance

48. Market Orientation The marketing concept states that the social and economic justification for an organization’s existence is the satisfaction of customer wants and needs while meeting organizational objectives.

52. Organization’s Focus Firm’s Business For Whom? Primary Profit Goal? Tools to Achieve Selling goods and services Everybody Maximum sales volume Primarily promotion Inward Sales Orientation Market Orientation Outward Coordinated use of all marketing activities Customer satisfaction Specific groups of people Satisfying wants and needs

53. Create Customer Value Build Long-Term Relationships Maintain Customer Satisfaction Key Issues in Developing Competitive Advantage

54. Customer Value The ratio of benefits to the sacrifice necessary to obtain those benefits

56. Customer Satisfaction The feeling that a product has met or exceeded the customer’s expectations.

58. Relationship Marketing The name of a strategy that entails forging long-term partnerships with customers, both individuals and firms.x 3

59. Relationship Marketing’s Importance 3 Attracting a new customer may be TEN TIMES the cost of keeping an old customer

61. Empowerment Delegation of authority to solve customers’ problems quickly.

63. Understand the organization’s mission Set marketing objectives Gather, analyze, interpret “SWOT” information Develop a marketing strategy Implement the marketing strategy Design performance measures Evaluate marketing efforts--change if needed

72. “ Marketing is too important to be left to the marketing department .” -- David Packard Hewlett-Packard

87. The Boston Consulting Group

99. Steps in the Marketing Research Process

100. Steps in the Marketing Research Process

106. Maslow’s Hierarchy of Needs

149. What are Consumers’ Needs, Wants, &Demands? Needs - state of felt deprivation including physical, social, and individual needs i.e hunger Wants - form that a human need takes as shaped by culture and individual personality i.e. bread Demands - human wants backed by buying power i.e. money

150. Experiences Persons Products Anything that can be Offered to a Market to Satisfy a Need or Want Places Organizations Ideas Activities Services Activity or Benefit Offered for Sale That is Essentially Intangible and Doesn’t Result in the Ownership of Anything

151. Customer-Driven Quality Total Quality Management Involves Improving the Quality of Products, Services, and Business Processes Product’s Perceived Performance in Delivering Value Relative to Buyer’s Expectations is Customer Satisfaction Value Gained From Owning a Product and Costs of Obtaining the Product is Customer Value

155. Marketing Management Attracting new customers and retaining and building relationships with current customers Profitable Customer Relationships Finding and increasing demand, also changing or reducing demand such as in Demarketing Demand Management Involves managing demand, which involves managing customer relationships Marketing Management

156. Stage 1. Entrepreneurial Marketing Stage 2. Formulated Marketing Stage 3. Intrepreneurial Marketing

157. Production Concept Product Concept Selling Concept Marketing Concept Societal Marketing Concept

159. http://www.johnsonandjohnson.com/

162. Learn About & Track Customers With Databases Communicate With Customers in Groups Or One-on-One Create Products & Services Tailored to Meet Customer Needs Distribute Products More Efficiently & Effectively Connecting Technologies in Computers, Telecommunications, Information, & Transportation Help To:

167. Global Connections Value Connections Social Responsibility Connections Broadening Connections

169. For Management & Marketing

170. She said, “What’s that?” He said, “The World Wide Web.” She said, “What does it do?” He said, “I don’t know, it’s not finished yet.”

171. Shrinking World 1500-1840 Communication by ship, coach, horseback 1850-1930 Communication by steamship, train, auto 1930-1950 Communication by airplane, auto, and radio/television 1960-1980 Communication by jet airplane, telephone, satellite radio/television 1990-2000 Communication by sst airplane, high bandwidth communication 2001-2005 High Bandwidth Communication, Expanding technology for personal communication

173. “ Computers in the future may weigh no more than 1.5 tons” Popular Mechanics magazine , 1949 “ There is no reason anyone would want a computer in their home.” Ken Olson, Digital Equipment, 1977

174. The future? It’s in the future!

175. “ E-Commerce will usher in a new world of low-friction, low-overhead capitalism.” Bill Gates, CEO, Microsoft

176. “ It’s going to be quite bloody. The Internet does not wipe out markets, but it resculpts them. It is an enormously destructive force.” Emily Greene, Director, Forrester Research

177. D

185. Digital Marketing can be divided into four domains: Business (user) Business (supplier) Consumer Administration (Government)

187. From Choi et al. (1997) The Economics of Electronic Commerce . p. 18 Areas of Digital Marketing

190. Standard, simple, many instances Custom, complex, few instances Electronic Presence Company Promotion Pre/Post Sales Support Natl. Elec Distribution Intl. Elec Distribution Simple Sales Transactions National Payment Shared Business Processes International Payment