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© 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. Slide 1-1 LAUNCHING A NEW BILLION-DOLLAR FOOD CATEGORY—IN JUST SEVEN YEARS! Developing Chobani’s Unique Greek Yogurt Reaching Customers Chobani Today Chobani, Marketing, and You © 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. Chobani Slide 1-2 FIGURE 1-1 A marketing department relates to many people, organizations, and environmental forces © 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. Slide 1-3 LO 1-1 WHAT IS MARKETING? REQUIREMENTS FOR MARKETING TO OCCUR Two + Parties with Unsatisfied Needs A Desire and Ability to be Satisfied A Way for the Parties to Communicate Something to Exchange © 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. Domino’s Pan Pizza Slide 1-4 • American Marketing Association’s new official definition of marketing released August 2004: – Marketing is the activity, set of institutions, and processes for creating, communicating, delivering and exchanging offerings that have values for customers, clients, partners, and society at large. © 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. Slide 1-5 Ultimate Goal of Marketing • The passion to understand and satisfy the needs of customers in well-defined target markets. © 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. Slide 1-6 Core Concepts of Marketing (1 of 2) • • • • • Needs Wants Demands Marketing Offers Value © 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. Slide 1-7 Core Concepts of Marketing (2 of 2) • • • • • Satisfaction Exchange Transaction Market Utility © 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. Slide 1-8 Utility • Production and marketing together create utility • Utility - The want-satisfying power of a good or service © 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. Slide 1-9 10 TABLE 1.1 Four Types of Utility © 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. Slide 1-10 Six Eras of Marketing PRODUCT PRODUCTION SALES MARKETING SOCIETY RELATIONSHIP © 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. Slide 1-11 12 Marketing Myopia • Marketing myopia - Management’s failure to recognize the scope of its business • Overcoming marketing myopia – Developing broader marketing-oriented business ideas focusing on customer need satisfaction © 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. Slide 1-12 13 TABLE 1.2 Avoiding Marketing Myopia © 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. Slide 1-13 AVOIDING MARKETING MYOPIA © 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. Slide 1-14 15 Not-for-Profit Marketing • Marketing in not-for-profit organizations – Operate in both the public and private sector – Adopt marketing strategies to meet service objectives – Communicate their messages through advertisements relating to their goals – Form alliances with for-profit firms to promote each other’s causes © 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. Slide 1-15 16 Characteristics of Not-for-profit Marketing • Focus is to generate revenue to support their causes and not on the bottom line • May market tangible goods and services • Markets to multiple audiences • Often possess some degree of monopoly power in a given geographic region • Service users have less control over the firm’s future © 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. Slide 1-16 17 TABLE 1.3 Categories of Nontraditional Marketing © 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. Slide 1-17 18 Nontraditional Marketing • Person marketing – Efforts to cultivate the attention, interest, and preferences of a target market toward a person – Celebrity endorsements • Place marketing - Efforts to attract people and organizations to a particular geographic area – Tourism enhancements © 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. Slide 1-18 19 Nontraditional Marketing • Cause marketing - Identification and marketing of a social issue, cause or idea to selected target markets • Many profit-seeking firms link their products to social causes • Strong support among customers and employees for cause-related marketing © 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. Slide 1-19 20 Nontraditional Marketing • Event marketing - Marketing of sporting, cultural, and charitable activities to selected target markets – Also, includes sponsorship of such events by firms • Event sponsorships have gained effectiveness in increasing brand recognition, enhancing image, boosting purchase volume © 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. Slide 1-20 21 Nontraditional Marketing • Organization marketing - Intended to persuade others to: – Accept the organization’s goals – Receive its services – Contribute to the organization in some way • Adopted by mutual-benefit organizations, service organizations, and government organizations © 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. Slide 1-21 22 FIGURE 1.2 Converting New Customers to Advocates © 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. Slide 1-22