* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
Download Introduction to Marketing
Brand equity wikipedia , lookup
Advertising management wikipedia , lookup
Consumer behaviour wikipedia , lookup
Market segmentation wikipedia , lookup
Customer experience wikipedia , lookup
Customer relationship management wikipedia , lookup
Social media marketing wikipedia , lookup
Bayesian inference in marketing wikipedia , lookup
Product planning wikipedia , lookup
Sales process engineering wikipedia , lookup
Neuromarketing wikipedia , lookup
Food marketing wikipedia , lookup
Customer engagement wikipedia , lookup
Customer satisfaction wikipedia , lookup
Affiliate marketing wikipedia , lookup
Target audience wikipedia , lookup
Marketing communications wikipedia , lookup
Marketing research wikipedia , lookup
Sports marketing wikipedia , lookup
Marketing channel wikipedia , lookup
Ambush marketing wikipedia , lookup
Digital marketing wikipedia , lookup
Target market wikipedia , lookup
Youth marketing wikipedia , lookup
Multi-level marketing wikipedia , lookup
Guerrilla marketing wikipedia , lookup
Integrated marketing communications wikipedia , lookup
Marketing strategy wikipedia , lookup
Viral marketing wikipedia , lookup
Advertising campaign wikipedia , lookup
Multicultural marketing wikipedia , lookup
Direct marketing wikipedia , lookup
Marketing plan wikipedia , lookup
Sensory branding wikipedia , lookup
Marketing mix modeling wikipedia , lookup
Green marketing wikipedia , lookup
Marketing Marketing’s Value to Consumers, Firms & Society Professor Close Objectives • Provide students with an overall introduction to marketing • Customer service and satisfaction • Talk about the components of marketing • Briefly mention about the history of marketing • What is the importance of marketing Some Ideas of Marketing • Traditional Approach – Selling & Advertising (one part) – What else? • Customer Satisfaction – What do you think it means? Are there any examples where you were really satisfied or not satisfied? – Examples: Nordstrom, Southwest Air • Marketing requires 2 or more parties to trade items of value • Marketing’s job is NOT to get rid of things produced by the firm Southwest Airlines Reaching out to Customers Marketing (Micro) Defined • Marketing is accomplishing the firm objectives by anticipating client needs & directing a flow of need-satisfying products to customers • Everything we do to get and keep a customer • Begins with the customer • Series of sales History of Marketing (1) • Always marketing? Sort of…. • Pure subsistence economy: make all the products you consume • Other disciplines – Economics – Sociology – Psychology • 1906-1911: marketing emerges as a noun History of Marketing (2) • The marketing eras: 1. The simple trade era (trading of simple goods) 2. The production era (Industrial evolution) 3. The sales era (emphasis on selling because of competition) 4. The marketing department era (when all marketing activities are under the control of one department) 5. The marketing company era (involves short and long run planning) Importance of Marketing • Approx. 50% prices • Everyone needs it! (politicians, churches, resumes) • How is marketing important to you? Marketing Utility 1. Form Utility (Audi) 2. Task Utility (Bellagio) 3. Possession Utility (right to use or consume a product) 4. Time Utility (having the product available when the customer wants it) 5. Place Utility (having the product where the customer wants it) What is Macro-Marketing? (1) • Macro-Marketing: directing the overall flow of goods and services to consumers in a way that: – Matches supply and demand (good) – Accomplishes society’s objectives (the question) – Focuses on individual firms eBay Commercial What is Macro-Marketing? (2) • What about society? – The micro-macro dilemma: “What is good for the individual may not be good for society.” – Difficult questions (health care, marketing to children, tobacco) – Trend is toward market direction, not regulation (Calif. Utilities, telephone) Marketing’s Importance to Society • Economic Development: exchange allows – Specialization – Leisure – What else can you think of? • Issues – Micro and macro issues again – Trends WTO: Is it good or bad?? • Freer trade • WTO: encourages international trade Questions about Marketing • Satisfaction: is just satisfaction enough? • Who performs – Cannot eliminate – Can shift burden • “Quality” of the system – Plusses • • • • Connects remote Innovation Efficiency What other plusses do you see with marketing? – Minuses • • • • • Rich benefit vs poor Marketing is misleading; sometimes intentionally Privacy is poor Credit causes indebtedness What other minuses do you see with marketing? Summary • What is marketing? • How is it different from advertising? • Macro-marketing takes on an entire system approach • Individuals view marketing differently • Any other questions?