This document provides an overview of marketing and the marketing mix. It defines marketing and discusses the key elements of the marketing process. It then introduces the marketing mix (the 4 P's of product, price, place, and promotion), how the elements work together to satisfy customers, and some criticisms of relying solely on the 4 P's. The objectives of the lecture are also outlined.

1. Managing The Marketing Mix
Lecture 1:
Introduction to Marketing and the Marketing Mix
Dr. Martin J. Liu
Lecturer in Marketing
Nottingham Business School China

2. Module Objectives
Brief Introduction • The concept of marketing and marketing’s role in the
of Myself
firm.
Module Outlooks • Understand marketing mix decisions
Lecture 1 • Understand the role of product, price, promotion,
Objectives
• and place (the 4 P’s) and extra 3Ps for services.
What is Marketing? • Be able to critique the marketing mix and investigate
The Marketing Mix the key marketing challenges
(the 4 P’s)
Summary

3. Module Design
Brief Introduction Module Delivery
of Myself • 10 one-hour lectures + 1 two-hour compulsory seminars.
• Main text book: Jobber (2010) Principles and Practice of Marketing,
Module Outlooks 4thedition, McGraw-Hill, Maidenhead
• Key Readings: academic journals are essential and are detailed in the
module outline.
Lecture 1
Objectives
Seminar Presentation
• You are asked to form a group of 4 -5 people in your allocated seminar.
What is Marketing?
• Each presentation should last in between 25 – 30 minutes.
• Attendance of seminar presentations are compulsory. No other excuses
The Marketing Mix will be accepted except sickness. Failing to attend seminar will result in
(the 4 P’s) failing of this module.
• Detailed Presentation guideline will be posted next week by David Todd.
Summary
Assessment
• Examination (100 %)
Lecture materials and module outline can be found at:
U:3rd Year ShareBusiness SchoolSemester 2 0910Managing the
Marketing Mix

4. Contact Information of the Lecturers
Brief Introduction
of Myself
Module Convenor:
Email:
Module Outlooks
Martin.Liu@Nottingham.edu.cn
Lecture 1
Objectives Office Hours:
Every Wednesday, 12:30 - 2:30 PM at AB480
What is Marketing?
The Marketing Mix
(the 4 P’s) Please make an appointment outside regular
office hours if you wish to come and talk to me.
Summary
Seminar Tutor:
Email:
David.Todd@Nottingham.edu.cn

5. Module Structure
Brief Introduction 1. Introduction to Marketing and the Marketing Mix
of Myself
2. Product and New product Development
Module Outlooks
3. Place and Channels to Market
Lecture 1 4. Pricing
Objectives
5. Promotion and Marketing Communications (1)
What is Marketing?
6. Promotion and Marketing Communications (2)
The Marketing Mix 7. Extending the Marketing Mix: Service Marketing
(the 4 P’s)
8. Buyers Behaviour
Summary
9. Branding
10. Market Research and Module Review

6. Lecture 1 Objectives
Brief Introduction
of Myself
• To define marketing
• To understand the role of marketing
Module Outlooks
• To understand the marketing process
Lecture 1
Objectives • To introduce the Marketing Mix and its role in the
marketing process
What is Marketing?
The Marketing Mix
(the 4 P’s)
Summary

7. What is Marketing?
Brief Introduction
of Myself
• A philosophy of business
–Customer-centric
Module Outlooks
–External focus
Lecture 1
Objectives –Focus on customer value & satisfaction
What is Marketing? • An organizational function
The Marketing Mix
• A management process
(the 4 P’s) • A set of techniques
Summary
“The management process responsible for
identifying, anticipating and satisfying customer
requirements profitably.”
Chartered Institute of Marketing (1989)

8. Marketing Process is:
Brief Introduction
of Myself
• Defining markets;
• Quantifying the needs of customer groups
Module Outlooks
(segments) within these markets;
Lecture 1
Objectives
• Determining the value proposition to meet those
needs;
What is Marketing?
• Communicating the value proposition, both
The Marketing Mix internally and externally;
(the 4 P’s)
• Monitoring the value actually delivered.
Summary
(McDonald,M.2003)

9. The Selling & Marketing Concept Contrast
Brief Introduction
of Myself
Module Outlooks
Lecture 1
Objectives
What is Marketing?
The Marketing Mix
(the 4 P’s)
Summary
Marketing is a matching process between a company’s
capabilities and the wants of its customers.

10. The Marketing Process:
Making and Delivering Value
Brief Introduction
of Myself
Module Outlooks
Lecture 1
Objectives
What is Marketing?
The Marketing Mix
(the 4 P’s)
Summary

11. Key Characteristics of
An Effective Marketing Mix
Brief Introduction •The elements are not
of Myself independent of each other.
Module Outlooks
•The mix elements should be
Lecture 1 well blended to form a consistent
Objectives theme
What is Marketing?
•The marketing mix matches
The Marketing Mix customer needs
(the 4 P’s)
•The marketing mix matches
Summary
corporate resources The marketing mix paradigm
( Borden, 1964, McCarthy,
•The marketing mix creates a 1978)
competitive advantage

12. Criticism of The Marketing Mix
Brief Introduction • Represents the sellers view of
of Myself marketing (Kotler, 2003)
• Simplification of reality
Module Outlooks • The broadening of marketing
to include services, not-for-
profits and even politics (7Ps,
Lecture 1 add People, Processes and
Objectives Physical Evidence)
• Introduction of Total Quality
What is Marketing? Management with its emphasis
on “customer satisfaction”
The Marketing Mix • B2B-Industrial marketing
(the 4 P’s) contexts
• A focus on the customer,
Summary extending from the
transactional to relational
marketing
• Identification of the firm as a
member of a complete value
chain

13. Summary
Brief Introduction
of Myself
• Marketing is an organizational function and set of
processes for creating, communicating and
Module Outlooks delivering value to customers
Lecture 1 • Marketing strategies are implemented through
Objectives
management of the marketing mix, which can be
What is Marketing? summarised as the 4P’s.
The Marketing Mix • Effective strategies harmonise the elements of the
(the 4 P’s)
marketing mix into a consistent approach to target
Summary markets
• But-action programme based on the 4Ps should
account for 21stCentury challenges