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MT 219 Marketing
Unit One
Welcome!
Course Overview
Strategic Marketing
Note: This seminar will be recorded
by the instructor.
Let’s Review: Overall Course Objectives
• The effect of the external environment on marketing
strategy
• What influences consumer behavior?
• Segmentation, targeting, positioning
• The marketing mix – The Four P’s- our tool box
• The need for synergy in marketing strategies
• The role of marketing in service firms
Let’s Review: Course Element Overview
Four Grading Elements- See your Syllabus for grading
allocation
-Discussions- Every Unit
-Assignments
-Reviews
-Final Project- Two parts
Extra Credit is not offered
Let’s Review: Discussions
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Opportunity to clarify concepts
Work with material covered in the unit
Ask questions to others
Get help from instructor and classmates
Exchange ideas
Get feedback
They are fun!
Let’s Review: How to do well in discussions
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Pay attention to the rubric in your syllabus- points at stake
Post early- you must post a primary response by Saturday
You must post on three separate days for full credit
Respond to at least two classmates
Apply the language and concepts from your readings in your responses
Interpret your own knowledge in terms of the course – personal
experience is great, but apply your reading to it
Check out the key terms at the end of each unit – try to incorporate
them
Use web based research where appropriate to make a point
Use material from previous units to link concepts
Be thoughtful, thorough, and substantive (100 words at least)
Check frequently to see if anyone has asked questions
Be aware of the deadline- the board closes automatically
Let’s Review: Working with the assignments
• Assignments require you to apply what you have learned in that
unit
• Review the rubric in the syllabus for guidelines
• Use the templates that are available on the last assignment page
• Proof, proof, proof – grammar and spelling matter. Using APA is
recommended. See your syllabus and visit Kaplan Writing Center
• BRING THE TEXT INTO THE PROJECTS- NO CUTTING and
PASTING
• Apply the concepts and language of the course
• Answer all the questions in terms of the key concepts of that unit
• Be thorough, especially when examining the website
• Additional research may be used. For example, if you are working
with a video and wish to examine websites as well, that can only
enhance your work.
• If something is confusing, check with your professor
Let’s Review: Reviews
• Multiple choice quizzes
• Think the question through
• ALWAYS read instructions- Some may have time limits
or not allow you to take more than once.
• Keep aware of the deadline- system closes access
automatically
Let’s Review: Final Brand Analysis Project
• You will select your brand from the list in the Unit 2 Discussion
• You can only select a brand that is on the list in the discussion
• After selecting your brand from the list, this is the brand you must use in
the Final Project.
• The project will require research, application, and creativity as well as
analysis
• You will have an opportunity to spend more time discussing the project in
the other seminars
• Once you select your brand in the discussion, you should independently do
research in preparation for your Final Project
• A few minutes of researching your brand every day or so will help ensure
your research and Final Project go smoothly, so plan ahead.
Let’s Review: Deadlines
• All units close midnight EST on Tuesdays
• If you are having a difficulty getting work in- Contact me BEFORE the
deadline.
• Discussion threads will be closed at that time and cannot be handed
in late unless there are extenuating circumstances. Plan appropriately.
• All unit reviews and projects are also due at that time
• See the syllabus for late policies for projects
1-7 calendar days late = 20% penalty
8-14 calendar days late = 30% penalty
more than 14 days = automatic zero
Let’s Review: Seminars
• Fun and helpful
• Opportunity to ask questions
• Opportunity to interact with classmates
• You can review the recording (which will be posted as a link in an
Announcement) if you are unable to attend
What is Marketing ?
• A process that focuses on
-consumer relationships and satisfaction, and
-the creation, distribution, promotion, pricing of:
-goods
-services
-ideas
What is the purpose of Marketing?
• The purpose of Marketing – to make a profit by providing value in a
social context. Benefits/value to customers = sales (possibly profits)
• Marketing, more than any other topic deals with the customer.
• Your e-book by Pride and Ferrell gave a fantastic definition. It states,
“Marketing is the process of creating, distributing, promoting, and
pricing goods, services, and ideas to facilitate satisfying exchanges
with customers and develop and maintain favorable relationships with
stakeholders in a dynamic environment.”
• That’s a pretty big definition!
• There are also some very important words in that definition. By
process, we are referring to a system or a method.
• A majority of that definition contains the elements of a very important
term called the “Marketing Mix.”
Marketing Mix or The Four P’s
• This is a term we will reference throughout the course.
• Figure 1.1 in your e-book has a fantastic diagram that shows the
importance of the marketing mix as a component of marketing.
• The marketing mix includes 4 elements/activities of marketing.
These are sometimes referred to as the 4Ps of marketing, which
include Product, Price, Promotion and Place. Place is also referred
to as “distribution.”
• Your text states that the primary job of a marketing manager is to
create and maintain the right mix of these elements to satisfy
customer’s needs for a general product type.
• For example, a company could have the best product in the world
offered at a great price with exceptional promotion.
• However, if you cannot get the product to the customer, then you
have no sales. This example refers to the importance of the “place
or distribution” element of the marketing mix.
• These concepts will make more sense as we dive deeper into the
class.
Summary – the Marketing Mix
The Marketer’s tool box – the Marketing Mix
• Product – anything that is offered to consumers for their
satisfaction. This includes services too!
• Price – what consumers give up for the product
• Place – where, when and how consumers access and
possess the product
• Promotion- communication between the provider of the
product and the consumer.
What is the marketing concept?
• A managerial philosophy involving
- The satisfaction of consumer needs and wants
- The coordination of activities
- Satisfaction of goals
- In a coordinated way
- The basic management process- plan, organize, lead, control
What is customer relationship marketing?
• Long term
• Mutually satisfying
• Buyers and sellers both benefit
What is Value?
• Benefits minus costs = Value
- Benefits are what customers get out of a product
- Costs can take many forms
- Money
- Time
- Risk
- Aggravation
- Other?
Marketing does not exist in a vacuum
• Marketers must consider the External Environment
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the economy
demographic changes
social and cultural changes
technological changes
the natural environment has an impact
politics and laws
You Have Marketing Experience
• Believe it or not, every person in this class has a degree of
marketing experience. We are marketed to as consumers on
a daily basis.
-Consider ads and promotions that attract your attention.
Are you more easily reached via mailings, radio,
television, billboard, or online advertising?
-What factors influence your purchasing decisions?
-Price
-Convenience
-Service
-Product availability
• How do you think you can apply marketing concepts to either
your career or personal life?
Any Questions?
Thank you for attending!
See you next week!