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Overview of Session Marketing - what and why • • • • What is Marketing? Why study Marketing? Marketing Philosophies Trends in Marketing The Marketing Environment • Micro-environment • Macro-environment • Managing the Environment What is Marketing? What is Marketing? Marketing is the social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others. (Kotler and Armstrong) What is Marketing? Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives. (American Marketing Association) Key Concepts Needs and Wants The “product” Customer satisfaction Exchange Marketplace Why Study Marketing? • Marketing is omni-present • Gain insight into culture • Be smart consumer • Market oneself effectively • Marketing accounts for more than 50 cents of consumer dollar • A well marketed product may outperform a technologically better, poorly marketed one • Good career opportunities • Fun Marketing is Omnipresent The real thing The friendly skies 99 9/10 pure Ring around the collar Ultimate driving machine Quality is job # 1 King of pop How Would You Market Yourself? Production Concept Product Concept Selling Concept Marketing Concept Societal Marketing Concept Two Marketing Vision Problems Marketing Myopia Fuzzy Vision Marketing Vision Problems Telephone Communications Airline Transportation Petroleum Energy Internet ??? Environmental Forces Micro-environmental forces Macro-environmental forces • • • • • • demographic economic natural political technological cultural Managing the Environment Environmental scanning • “Eternal vigilance is the price of liberty.” Proactive strategies Reactive strategies Pick the odd one out Escalator Kerosene Yo-yo Linoleum Cornflakes Nylon Trampoline Xerox Trends in Marketing Globalization of Markets Diversification of Market Segments and the Customizing of Products Choice in Media and Advertising Exposure What We Discussed Today Marketing - what and why • • • • What is Marketing? Why study Marketing? Marketing Philosophies Trends in Marketing The Marketing Environment • Microenvironment • Macroenvironment • Managing the Environment