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Welcome to MT- 219 Marketing Seminar Dear Students, The Seminar will start promptly at the Schedule Time. Remember that the system saves a transcript of everything in the Chat, if you wish to talk among yourselves you may do so, or you may use the Private Chat Option. Dr. Nardi Welcome to MT- 219 Marketing ……… The Marketing Environment and Marketing Research Unit 2- Seminar Professor: Dr. Nardi Seminar Ground Rules Start with person’s name, or Prof, or Dr. N., if responding to someone’s comment. No name means response is to whole class. When you have a question, ASK it. Start your Question with // or ?? – examples: //What’s for Lunch? Or ?? What do you mean? You are welcome to respond, after the person asked has a chance to answer. When I ask to “move on”, end discussion on that topic. Please do not use “private chat” Agenda Review from last week Tonight: What is Marketing? Importance of Marketing. The Marketing Environment. Strategic Marketing. Marketing strategy Marketing Plan Marketing Management Marketing Offer, Concept and Orientation Marketing research Global Marketing – aka International Marketing Wrap Up Review from Last Week The Syllabus Office Hours Expectations General Assignments & Seminars Q &A Marketing in Every Day Life Unit 1 How did it go? Time management? Questions : Grades Review? Seminar? Microenvironmental Actors The organization itself Suppliers Marketing Intermediaries Competitors Publics Customers Good Marketing is No Accident Boston Beer C o m p a n y, maker of S a m u e l A d a m s , constantly innovates What is Marketing? Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders. Importance of Marketing Many Years ago: Marketing was thought as an unimportant aspect of business Now, the realization that: Financial success often depends on marketing ability Any Questions? Advice for Businesses “Change or Die” The Firm or Organization Marketing impacts many areas of an organization Different functional areas and their capabilities go into marketing planning All areas must realize the need to help in marketing efforts Suppliers Provide the materials and resources that organizations use to provide product Resources must be provided in a timely way at a cost and quality level required for the product. Marketing Intermediaries Assist the organization getting products to consumers Can be involved in a number of area, including physical distribution, financing, marketing services and reselling Importance of developing strong relationships Competitors Almost no one is free of competition Need to monitor competitive actions Need to develop a systematic approach to competitive evaluation Public Many times referred to as stakeholders Involve any group that may impact the development of an organization’s strategies This is the reason why companies often need to be actively engaged in public relations Customers The entire rationale for an organization’s existence For most companies, this actor represents its sole source of revenue There is a need to establish long-term relationships with this group The Macroenvironment Demographic environment Economic environment Natural environment Technological environment Political environment Cultural environment Businesses are impacted by ALL of these forces. Demographic Environment Demographics can differ significantly between markets Looks at: Aging of the population Changes in family structures How the population shifts geographically Higher levels of education Increased or decreased diversity Population and Demographics Population growth Educational groups Population age mix Household patterns Ethnic markets Geographical shifts Economic Environment Buying Power disposable income discretionary income Willingness to spend Economic conditions and business cycle recession vs. expansion Natural Environment Looks at the raw resources and natural world conditions that help or hinder the firm Raw resources used in products may be in short supply or what is supplied may be in surplus Things like climate, natural disasters and man-made disasters can impact the organization Natural Environment Shortage of raw materials Increased energy costs Anti-pollution pressures Governmental protections Technological Forces Technology – the application of knowledge and tools to solve problems and perform tasks more efficiently. most dramatic force today enables market fragmentation Not always digital and computer technology Political Environment Political forces may include working with politicians, public interest groups, unions, political groups. It also includes obeying laws and regulations that governments might enact Depending on the size of the organization, it may need to consider the local, county, state, national and international political environment Political-Legal Environment Increase in business legislation Growth of special interest groups Cultural Environment Overall, a way of life Cultures have core and secondary beliefs and values Includes: How people view themselves How people view others How people view organizations and other structures in society How people view nature and the universe Social-Cultural Environment Views of themselves Views of others Views of organizations Views of society Views of nature Views of the universe Marketing Environment Competitive forces Economic forces Political forces Legal and Regulatory forces Technological forces Sociocultural forces Businesses are impacted by ALL of these forces. Any Questions? Strategic Planning The process of establishing an organizational mission and formulating goals, corporate strategy, marketing objectives, marketing strategy, and a marketing plan. Marketing Strategy A plan of action for identifying and analyzing a target market and developing a marketing mix to meet the needs of that market. Marketing-Mix Strategy Marketing Plan A written document that specifies that activities to be performed to implement and control an organization’s marketing activities. Marketing Managers Decisions… They must make decisions that respond to question such as: 1. 2. 3. 4. - What features to design into a new product? - What prices to offer customers? - Where to sell the products? Among many others.. What is Marketing??????? What is Marketing? Marketing is “Meeting needs and Creating a Relationship Profitably” What is Marketed? Goods Services Events & Experiences Persons Places & Properties Organizations Information Ideas Marketing Ideas: Friends Don’t Let Friends Drive Drunk The Ad reads: This is the watch Stephen Hollingshead, Jr. was wearing when he encountered a drunk driver. Time of death 6:55 p.m. The marketplace isn’t what it used to be… Changing technology Globalization Deregulation Privatization Empowerment Customization Convergence Disintermediation 4Ps and 4Cs Product Customer Solution Place Convenience Price Customer Cost Promotion Communication Any Questions? The importance of marketing research Enables marketers to understand consumers and meet their needs Is the connection between marketers and consumers in many ways Marketing Research Process Defining the problem Designing the research plan Collecting data Interpreting the findings from the data Reporting findings in a timely manner Secondary Data Advantages readily available less expensive less time consuming Disadvantages May be old May not be in form required May be incorrect Primary Data Collection Approaches Observation Survey Experiment Need to Assure Reliability and Validity as much as possible Sampling – from a population Probability – random, stratified, cluster sampling Non probability – quota, convenience, judgment Census- a complete count of the population Basic Contact Methods Mail Telephone Online Personal Interview Questionnaire Construction – open ended vs. closed ended Marketing Considerations Marketers must consider the economy demographic changes social and cultural changes technological changes the natural environment has an impact politics and laws Any Questions? Marketing Shoptalk Discussion: Does Marketing Creates or Satisfy Needs ? Create or Satisfy Needs? Creates Not all consumers have the same needs & Wants Media exposure --> to different wants and needs : GO TO HAVE IT Marketing efforts --> Increase peer pressure Individual freedom to choose is weaken. Satisfy Marketing merely reflects the needs and wants of society. Internet = Offers consumers Greater Freedom Consumers can do more informed decisions. Perception of Marketing Influence --> discounts individual’s responsibility Any Questions? Wrap Up Key Points Key Terms Regular scanning of the marketing environment allows the firm to better identify threats and opportunities to the business. Correctly designed and executed, marketing research can add a lot of value to the marketing decision process. Well designed marketing research is developed and executed using a formalized, logical process. Demography Environmental sustainability Macroenvironment Marketing environment Marketing intermediaries Microenvironment Causal research Customer relationship management (CRM) Descriptive research Exploratory research Marketing information system (MIS) Marketing research Primary data Sample Secondary data Wrap Up Projects: Do not Forget your Title Page & File Name. Diaz_Unit1.doc Discussion: Remember – Minimum requirements: 1 Answer AND 2 Peer to Peer Comments per Question. Post on 3 separate days and the primary response post by Saturday. Answer all Sub-questions & cover all Points in the Question Remember you have assignments due this week. Discussion, Review (quiz) and Written assignment (project) Due on Tuesday by 11:59 PM E.T. Next Seminar Consumer Behavior Including Businesses as Consumers Customer & Value For the next seminar think about: What Influences your Purchasing Behavior? Are business and individuals affected by the same factors? Any Questions? You can contact me: 1) through my email: [email protected] , 2) through AOL Instant Messaging my AOL IM name is nknardi, (put me on your buddy list) 3) through Second Life (email me to request my user name if you use SL) 4) through the Live Chat Post in the Classroom 5) or through the “Instructor’s Office” link under the Course Home page My “Office Hours” for this term are as follow: __________________________ THANK YOU FOR ATTENDING SEE YOU IN THE DISCUSSION THREAD QUESTIONS AND IN NEXT WEEK’S SEMINAR Instructor’s suggestions for Unit 2 Readings: Chapter 3 & 4 (eBook) Discussion Graded Assignment More than one person can select a brand. Select the brand you want to do your Research Projects on. Then, do some research and provide the following: 1.Your brand and why you selected it. 2. Provide two references in APA format. These can be from the internet, the Kaplan Library or another published source. 3. An interesting fact that you found out while you were doing your research. While this is not the only research that you will have to do for your final paper, it will give you a little experience with some basic research. 1 Response & 2 peer to peer comments. Post on 3 separate days. (for full points). Primary Post must be posted by Saturday (for full points). Brands Goods Green Depot Patagonia Clothes Swatch Watches Goya Foods Delta Faucets Barilla Foods Editorial Planeta Acer computer Travel Services Shangri-La Hotels and Resorts Trafalgar Tours Sandals Resorts Singapore Airlines Choice Hotels Music Groups and Celebrities Lady Gaga Jay-Z Celien Dion Shakira Josh Groban Sonu Nigaam or Sonu Nigam 2PM Westlife Organizations LPGA NASCAR Metropolitan Opera FIFA (or any of their teams) Doctors without Borders UNICEF The Louvre Instructor’s suggestions for Unit 2 Review Read the Unit’s readings Before answering. Graded Assignment Multiple choice 15 Questions This Review is only available until the end of this unit (Unit 2). This Review is not timed. You can enter and exit the Review as many times as you like before the Unit is finished. Be sure to save your work before you exit the Review. When you are ready, you may submit your final Review. Based on the readings for Chapter 4 only. Project: TOMS Graded Assignment. Download the template. Review it. Review questions: 1) Identify which forces from the marketing environment impact TOMS Shoes 2) Describe how the six factors in the microenvironment impact the way TOMS Shoes operates. 3) Describe how the six factors in the macroenvironment impact the way TOMS Shoes operates Read the Unit’s readings– Take notes Watch the TOMS Video – Take notes. (~ 6 minutes) Read about the company (Section 3.1 in Chapter 3). Take notes. APA, Double space, Title page/cover page, 3 pages content. Double check: Write your responses in complete sentences; provide specific examples when applicable. As with all material you submit to your instructor, check for correct spelling, grammar, punctuation, mechanics, and usage. Make sure to provide citations and references that you use in writing up the responses. Make sure to use the concepts you have learned from the text and that you have answered the questions thoroughly. Submit to the Dropbox. Instructor’s suggestions for Unit 3 Readings: Chapter 5 (eBook) Review Discussion Read the Unit’s readings Before answering. Graded Assignment Graded Assignment Exploring Consumer Behavior Multiple choice Go to Toyota’s website and examine their complete product offering. 15 Questions This Review is only available until the end of this unit (Unit 3). This Review is not timed. You can enter and exit the Review as many times as you like before the Unit is finished. Be sure to save your work before you exit the Review. When you are ready, you may submit your final Review. Based on your Unit 3 readings (chapter 5) Age and lifecycle changes have a dramatic impact on the many and type of products we purchase and consume. Consider and answer the following: How has Toyota tried to reach consumers of all ages and stages of the lifecycle? 2. For you: Which Toyota vehicle seems to be the most relevant to your needs? 3. Select three cultural, social personal and psychological characteristics (shown in Chapter 5, Figure 5.2) which were discussed in Chapter 5 and explain why they would have an impact on why the vehicle is most relevant to your needs. 1. 1 Response & 2 peer to peer comments. Post on 3 separate days. (for full points). Primary Response posted by Saturday (for full points). Project: Finagle a Bagel Graded Assignment. Download the template. Review it. Review questions: 1. Describe TOMS' marketing mix. 2. Identify which forces from the marketing environment impact Finagle A Bagel. 3. Describe how the six forces in the marketing environment impact the way Finagle A Bagel operates. NOTE: Address each factor separately and in the order they are presented in the e-text. Read the Unit’s readings –Take notes Watch the TOMS Video – Take notes. Read about the company (back on Unit 1, Pgs: 20-22). Take notes. APA, Double space, Title page/cover page, 3 pages content. Double check: Write your responses in complete sentences; provide specific examples when applicable. As with all material you submit to your instructor, check for correct spelling, grammar, punctuation, mechanics, and usage. Make sure to provide citations and references that you use in writing up the responses. Make sure to use the concepts you have learned from the text and that you have answered the questions thoroughly. Submit to the Dropbox. Any Questions? Thank you for attending! See you next week!