[PPT] - Unit 1 i Int roduct ion t o Market ing Int roduct ion t o Market PowerPoint Presentation

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i Unit 1 – Int roduct ion t o Market ing Int roduct ion t o Market ing

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b About Me…

Professor Mark Runge 

k it@ il

markrunge.rmit@

gmail.com

Cell # by request Office hours are by appointment

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Class S t ruct ure

 The course will be structured as follows –

I will lecture for the first part of class I will then assign discussion questions for groups

to answer. You will have 20min to formulate your

answers. You will then share these answers with
answers. You will then share these answers with

the class.

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Assessment

 Assignment 1: A mid-term closed book exam  Assignment 1: A mid term closed book exam

f 1.5 hours (40%

) March 19 & 20 2013

 Assignment 2: One group presentation and

written report (60% )

Presentations are to be 15 minutes in length with

use of PPT slides I will provide each group the use of PPT slides. I will provide each group the

topic. Presented April 30 & May 1, 7 & 8 2013

I will provide the topic and guidelines after the

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Tet holiday.

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b Unit 1: Obj ect ives

 Understand the role of marketing  Describe key organizational orientations  U d

t d k k ti t d

 Understand key marketing concepts and

definitions

 Analyze the impact of maj or environmental forces

y p j like technology, globalization and de-regulation

n organizations and their approach to marketing.

 Discuss the sources of competitive advantage and  Discuss the sources of competitive advantage and

the bases from which organizations compete.

 Understanding the difference between marketing

f d d h k f

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f goods and the marketing of services.

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d k f How does Market ing fit in?

There are four key management There are four key management

disciplines

Fi / A ti

Finance/ Accounting Information Technology Human Resources Management Marketing

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What is Market ing? What is Market ing?

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h k What is Market ing?

S imply put: Marketing is the d li f t ti f ti delivery of customer satisfaction at a profit. Goals: Attract ne c stomers b Goals: Attract new customers by promising superior value and keep and grow current customers keep and grow current customers by delivering satisfaction.

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The Role of Market ing

 “ Marketing is so basic that it cannot be

considered a separate function. It is the whole p business seen from the point of view of its final result, that is, from the customer’ s point of view… Business success is not determined by the view… Business success is not determined by the producer but by the consumer” (Drucker 1973)

 “ Marketing is the delivery of customer value and

ti f ti t fit Th l f k ti i satisfaction at a profit. The goal of marketing is to attract new customers by promising superior value, and to keep customers by delivering

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p y g satisfaction” (Kotler et al. 2001)

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k f d Market ing Defined

Process by which individuals and groups obtain what they need need and h h d want want through creating and exchanging products exchanging products and value h h with others.

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What are Consumers’ Needs, What are Consumers Needs, Want s, and Demands?

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

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backed by buying power i.e. money

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Example: Maslow’ s Hierarchy Of Needs

Self Actualisation Self Esteem Social and Belonging Safety

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Physiological

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Wh Will S i f C ’ What Will S at isfy Consumers’ Needs and Want s? Needs and Want s?

y g y

Products

Anything that can be Offered to a Market to Satisfy a Need or Want

Experiences Persons Places Organizations Ideas Activities

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d k Modern Market ing S yst em

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k Market ing Management

Involves managing demand, which involves managing customer relationships

Marketing Management

Finding and increasing demand also changing or

Demand Management

Att ti t d

P fit bl

demand, also changing or reducing demand such as in Demarketing

Demand Management

Attracting new customers and retaining and building relationships with current customers

Profitable Customer Relationships

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customers

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Market ing Management Philosophies

Production Concept Production Concept Product Concept Product Concept Selling Concept Selling Concept g p g p Marketing Concept Marketing Concept Societal Marketing Concept Societal Marketing Concept

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Market ing and S ales Concept s Market ing and S ales Concept s Cont rast ed

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S

ciet al Market ing

g Concept

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What are t he maj or What are t he maj or differences bet ween t he Market ing Concept and t he S

ciet al Market ing Concept ?

S

ciet al Market ing Concept ?

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What is a Product ?

 A PRODUCT is anything that can be offered to a market for

attention, acquisition, use, or consumption and that might satisfy a want or need.

 Includes:

 Physical Obj ects  S

ervices

 Events  Persons  Places  Organisations  Ideas

C bi i f h b

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 Combinations of the above

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What is a S ervice?

 A S

ERVICE is a form of product that consist of p activities, benefits, or satisfactions offered for sale that are essentially intangible and do not result in the ownership of anything the ownership of anything.

 Examples include:

 Banking  Hotels  Tax preparation  Home repair services

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 Home repair services

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Product s, S ervices, and Experiences Product s, S ervices, and Experiences

Pure Tangible Good With Hybrid Service With Pure Tangible Good Pure Service With Accompanying Services Hybrid Offer With Accompanying Minor Goods Auto With Airline Trip Soap Auto With Accompanying Repair Services Restaurant Airline Trip With Accompanying Snacks Doctor’s Exam Services Snacks

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Nat ure and Charact erist ic of Nat ure and Charact erist ic of a S ervice

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i Unit 1 – Int roduct ion t o Market ing Int roduct ion t o Market ing

b About Me…

Professor Mark Runge 

k it@ il

markrunge.rmit@

gmail.com

Cell # by request Office hours are by appointment

Class S t ruct ure

 The course will be structured as follows –

Assessment

 Assignment 1: A mid-term closed book exam  Assignment 1: A mid term closed book exam

) March 19 & 20 2013

 Assignment 2: One group presentation and

written report (60% )

b Unit 1: Obj ect ives

t d k k ti t d

definitions

y p j like technology, globalization and de-regulation

the bases from which organizations compete.

f d d h k f

d k f How does Market ing fit in?

There are four key management There are four key management

disciplines

Fi / A ti

Finance/ Accounting Information Technology Human Resources Management Marketing

What is Market ing? What is Market ing?

h k What is Market ing?

S imply put: Marketing is the d li f t ti f ti delivery of customer satisfaction at a profit. Goals: Attract ne c stomers b Goals: Attract new customers by promising superior value and keep and grow current customers keep and grow current customers by delivering satisfaction.

The Role of Market ing

 “ Marketing is so basic that it cannot be

considered a separate function. It is the whole p business seen from the point of view of its final result, that is, from the customer’ s point of view… Business success is not determined by the view… Business success is not determined by the producer but by the consumer” (Drucker 1973)

 “ Marketing is the delivery of customer value and

ti f ti t fit Th l f k ti i satisfaction at a profit. The goal of marketing is to attract new customers by promising superior value, and to keep customers by delivering

p y g satisfaction” (Kotler et al. 2001)

k f d Market ing Defined

Process by which individuals and groups obtain what they need need and h h d want want through creating and exchanging products exchanging products and value h h with others.

What are Consumers’ Needs, What are Consumers Needs, Want s, and Demands?

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

backed by buying power i.e. money

Example: Maslow’ s Hierarchy Of Needs

Self Actualisation Self Esteem Social and Belonging Safety

Physiological

Wh Will S i f C ’ What Will S at isfy Consumers’ Needs and Want s? Needs and Want s?

Products

d k Modern Market ing S yst em

k Market ing Management

Marketing Management

Demand Management

P fit bl

Demand Management

Profitable Customer Relationships

Market ing Management Philosophies

Market ing and S ales Concept s Market ing and S ales Concept s Cont rast ed

S

g Concept

What are t he maj or What are t he maj or differences bet ween t he Market ing Concept and t he S

S

What is a Product ?

What is a S ervice?

Product s, S ervices, and Experiences Product s, S ervices, and Experiences

Nat ure and Charact erist ic of Nat ure and Charact erist ic of a S ervice

Reviewing t he Concept s

 Define what marketing is and discuss its core

concepts.

 Explain the relationships between customer

value, satisfaction, and quality.

 Define marketing management and examine how

marketers manage demand and build profitable l i hi customer relationships.

 Compare the five marketing management

hil hi

philosophies.