Download Document

MT 219 Marketing
Unit One
Dr. Bea Bourne
Welcome!
Course Overview
Creating Customer Value and
Marketing Strategy
Note: This seminar will be recorded
by the instructor.
Introductions
• To get started, everyone please introduce yourself – give
your name and where you are located and tell us
something interesting about yourself or something you
are excited about.
• I am Dr. Bea Bourne, I live in the Dallas, Texas area. I
enjoy working out, lifting weights specifically. I am excited
about ...
2
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 role of marketing in service firms
Let’s Review: Course Element Overview
Grading Elements- See your Syllabus for grading
allocation
-Discussions- Units 1-9
-Assignments-weekly
-Simulations – Units 4, 5, and 8
-Final project – Unit 8
-Reviews/quiz- Units 1, 5, and 9
-Graded Seminar - Units 1-9
-Reflection – Unit 10
This class has an e-text. Reading your e-text is important in order to
complete all assignments.
Expectations
From You:
•Respectful
•Put forth your best effort
•Timely assignments
•Ask questions
•Share your experience
From Me:
•Respectful
•Open and fair
•Committed to your success
•Timely, constructive feedback
•Available for office hours: Mon. – Thursday 7:00 p.m. to 8:00 p.m. EST
•Answer questions
•Share my experience
•Respond to E-mail in 24 hours
5
Let’s Review: Discussions
• Make sure to follow discussion requirements in syllabus
-Primary post by Saturday, a minimum of two posts to
others
-Post on three days
-Minimum of 100 words
• Opportunity to clarify concepts covered in unit
• Exchange ideas and ask questions to others
• They are fun!
Let’s Review: Working with the assignments
• Review the rubric in the syllabus for guidelines
• Proof your work– grammar and spelling matter.
• Use APA as appropriate when citing sources- NO cutting and
pasting from sources
• Apply the concepts and language of the course
• Answer all the questions thoroughly
• 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: Research Projects
• Select only a brand that is on the list in the Unit 2 Discussion
• You must use the brand you select in your Research Projects.
Sample list includes:
• Swatch Watches (http://www.swatch.com), Delta Faucets (www.deltafaucet.com)
• Barilla Foods (http://www.barillagroup.com), Sandals Resorts (http://www.sandals.com),
Singapore Airlines (http://www.singaporeair.com), Choice Hotels (http://www.choicehotels.com),
Lady Gaga (http://www.ladygaga.com), Jay-Z (http://www.jay-z.com)
• The projects will require research, application, and creativity as well
as analysis
• Once you select your brand in the discussion, you should
independently research in preparation for your Research Projects
• A few minutes of researching your brand every day or so will help
ensure your Research Projects go smoothly.
Let’s Review- Simulations
• In Units 4, 5, and 8
• Follow the instructions
• Simulations see how well you have learned concepts
• Graded, so make sure to complete them before the
Tuesday deadline
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, reviews and simulations will be closed at that
time. Plan appropriately.
• 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
• Required
• Fun and helpful
• Opportunity to ask questions and interact with classmates
• You can review the recording if you are unable to attend
• You must do the alternate assignment if you do not or cannot
attend the weekly seminar
What is Marketing?
What is Marketing?
• Kotler: “Marketing is the process by which companies create value for
customers and build strong customer relationships in order to capture
value from customers in return.” (Kotler, 2010)
• Notice that there is a lot of emphasis on establishing value and
relationships.
• Marketing, more than any other business function deals with the
customer and creating value for them.
• Things that are marketed- Goods, services, ideas, personal images
The Marketing Process
Figure 1.1 (Kotler, 2010)
The marketing orientation has evolved
•
•
•
•
1st Stage- The production orientation
2nd Stage- The sales orientation
3rd Stage- The marketing orientation
4th Stage- The societal marketing orientation
History of Marketing
• First era in the history of marketing - “the production era”.
• Businesses focused efforts on increasing the efficiency of
their production lines.
• Henry Ford was known by some as “The Godfather of the
Production Era”.
• “You can have a car in any color you want…as long as it’s
in black.” Henry Ford. What did he mean by that?
History of Marketing
• Second era- The “sales era”. Occurred prior to the 1950’s.
• Idea that creative advertising and selling would convince consumers to
buy a product or service.
• Third era- The “marketing era” was the third era in the history of
marketing.
• “Revolutionary idea.” Businesses focused on the needs and wants of the
consumer.
• The last era might be called the “societal marketing era” Company must
consider the different stakeholders of the company in developing their
marketing strategies.
What is the marketing concept?
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?
What is customer relationship marketing?
• Long term
• Creates value for the consumer greater than the cost of
products
• Mutually satisfying
• Buyers and sellers both benefit
What is Value?
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 is Dynamic
• Marketers realize their relationships with consumers is
always changing
• Importance of some customers
- Careful relationships with selected customers
- Developing relationships that are deeper and more interactive than
typical customers
• What companies might you feel a deep and interactive
link with?
Trends in the Marketing Environment
• Consider trends taking place in these areas:
-The domestic and global economy
-Changes in technology, including communications and
computer-based technologies.
-Growth in importance of non-profits and NGOs
-Trend towards sustainable marketing
-Growing diversity and awareness of other cultures
-Others?
Company and Marketing Strategy
• The process of establishing an organizational mission
and formulating OVERALL goals, corporate strategy,
marketing objectives, marketing strategy, and a
marketing plan.
• Mission- What the company does currently.
• Vision- What the company aspires to do in the future.
What is a marketing strategy?
“The marketing logic by which the company hopes to
create customer value and achieve profitable customer
relationships.” (Kotler, 2010)
A process that includes three important things:
- Segmenting the market
- Targeting key segments
- differentiating and positioning products and brands
Marketing Mix or The 4P’s
• Term used throughout the course. How products
are differentiated.
• Four components- Product, Price, Promotion and Place
(Distribution). What do each of these mean?
• Marketing Managers create and control the right mix of these
elements to create value and satisfy customer’s needs for a general
product type.
• They are synergistic and rely on one another for marketing success
• Example: A company could have the best product in the world, great
price s and promotion. Without good distribution, it may fail.
• Figure 2.4 in text shows the importance of the marketing mix as an
integral part of developing marketing strategy. (Kotler, 2010)
What is a marketing plan?
What is a marketing plan?
• A written document that specifies those activities to be
performed to implement and control an organization’s
marketing activities.
SWOT Analysis
• Internal
- Strengths
- Weaknesses
• External
-Opportunities
-Threats
Questions
33
Week 1 Assignments
1. Your Quiz has 20 multiple choice
questions and covers the e-text
readings for Unit 1(e-text Chapters 1
and 2). This Quiz is graded.
The following applies to this Quiz:
This Quiz is only available until the end of
this unit (Unit 1).
This Quiz is not timed.
You can enter and exit the Quiz as many
times as you like before the Unit is
finished. Be sure to save your work
before you exit the Quiz. Worth 20
points
2. Discussions & participation -Worth
30 points
3. Seminar - Worth 15 points
4. Learning Activity -Join the Discussion:
After reading chapter 1, decide which
segments of the Consumer market and
which segments of the Business market
(see page 9) if any Europhone should
concentrate on in the U.S. and why
(any particular states or cities?) What
age group? What will they use it for and
why?
Explain what if any modifications will be
needed for this phone to appeal to the
segment of the targeted markets you
have decided on.
Then have some fun and name the phone!
Worth 40 points
• I appreciate your time and attention during our 1
hour seminar tonight. If you have questions, feel
free to contact me: [email protected] and I’ll
be happy to help!
• See you in Class!
35