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Welcome to Introduction to Marketing
Instructor: Mr. Leon Roberts
Email: [email protected]
Website:leon-roberts.com
McGraw-Hill/Irwin
Copyright © 2011 by The McGraw-Hill Companies, Inc. All rights reserved.
McGraw-Hill/Irwin
Copyright © 2011 by The McGraw-Hill Companies, Inc. All rights reserved.
RESEARCHING HOW COLLEGE STUDENTS
STUDY TO LAUNCH A NEW PRODUCT AT 3M
1-3
INNOVATION AND MARKETING AT 3M
DISCOVERING & SATISFYING STUDENT STUDY NEEDS
+
3M Post-it® Notes or
Post-it® Flags
=
Felt Tip Highlighters
3M product that
will combine
Post-it® Notes or
Post-it® Flags and
Highlighters
1-4
LO1

WHAT IS MARKETING ?
You Are a Marketing Expert Already
• Involved in 1,000s of Buying Decisions
• May Be Involved in Selling Decisions

Marketing is NOT Easy
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FIGURE 1-1 The see-if-you’re-really-amarketing-expert test
1. True
2. True
3. (c) plastic bottles
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MARKETING MATTERS
LO1
Payoff for the Joys (!) and Sleepless Nights (?)
of Starting Your Own Small Business: YouTube!!!!
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LO1
WHAT IS MARKETING?
DELIVERING BENEFITS

Marketing Seeks to:
• Discover Needs and Wants of Customers
• Satisfy Them

Exchange
AMA Definition of Marketing
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WHAT IS MARKETING?
LO1
DIVERSE FACTORS INFLUENCE MARKETING ACTIVITIES

The Organization Itself and
Its Departments

Society

Environmental Forces
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FIGURE 1-2 A marketing department relates
to many people, organizations, and
environmental forces
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LO2
HOW MARKETING
DISCOVERS CONSUMER NEEDS
THE CHALLENGE: NEW PRODUCTS

Consumers May Not Know or Cannot
Describe What They Need or Want

Most New Products Fail

The Challenge:
• “Focus on the Consumer Benefit”
• “Learn From the Past”
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LO2
Dr. Care Vanilla-Mint Aerosol Toothpaste
What “benefits” and what “showstoppers?”
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LO2
Hot Pockets Sideshots Microwaveable Snacks
What “benefits” and what “showstoppers?”
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LO2
AT&T CruiseCast
What “benefits” and what “showstoppers?”
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LO2
Pepsi Max
What “benefits” and what “showstoppers?”
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LO2
HOW MARKETING
DISCOVERS CONSUMER NEEDS
NEEDS VS. WANTS
Want

Need

Does Marketing Persuade
People to Buy the
“Wrong” Things?

Market

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FIGURE 1-3 Marketing seeks to discover
consumer needs through research and then
satisfy them with a marketing program
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LO3
HOW MARKETING
SATISFIES CONSUMER NEEDS

Target Market

The 4 P’s: Controllable
Marketing Mix Factors
• Product
• Price
• Promotion
$199
• Place
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LO3

HOW MARKETING
SATISFIES CONSUMER NEEDS
Uncontrollable Environmental Forces
• Social
• Competitive
• Economic
• Regulatory
• Technological
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LO4
THE MARKETING PROGRAM
CUSTOMER VALUE AND RELATIONSHIPS

Customer Value

Value Strategies
• Best Price
• Best Product
• Best Service
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LO4
Southwest Airlines, Starbucks, and Home Depot
What customer value strategy?
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LO4
THE MARKETING PROGRAM
RELATIONSHIP MARKETING

Relationship Marketing
• Easy to Understand
• Hard to Do

Marketing Program
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LO4
3M’S STRATEGY & MARKETING PROGRAM
HELPING STUDENTS STUDY

Move from Ideas to
a Marketable
Highlighter Product

Add the Post-it®
Flag Pen

Develop a Marketing
Program for the
Post-it® Flag
Highlighter and Pen
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FIGURE 1-4 Marketing programs for two
new 3M Post-it® brand products targeted at
two distinct customer segments: college
students and office workers
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LO4
3M STRATEGY & MARKETING PROGRAM
MARKETPLACE SUCCESS?

Developed Second
Generation Post-it®
Flag Highlighter

Appeared on
The Oprah
Winfrey Show
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FIGURE 1-A Four different orientations in
the history of American business
Production Era
Sales Era
Marketing Concept Era
Customer Relationship Era
• Market Orientation
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LO5
HOW MARKETING BECAME IMPORTANT
EVOLUTION OF THE MARKET ORIENTATION

Customer Relationship
Management (CRM)

Customer Experience
• Direct Contact from Buying the Service
• Indirect Contact via Unplanned “Touches”
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LO5
HOW MARKETING BECAME IMPORTANT
ETHICS AND SOCIAL RESPONSIBILITY

Ethics

Social Responsibility
• Societal Marketing Concept
• Social Entrepreneurship
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LO5
HOW MARKETING BECAME IMPORTANT
BREADTH AND DEPTH OF MARKETING

Who Markets?

What Is Marketed?
• Goods
• Services
• Ideas
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