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What is Marketing?
What is Marketing?
Learning Objectives
• Definition of Marketing
• Marketing’s Role in an Organization
• The C’s of Marketing
• The Marketing Plan
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What is Marketing?
Marketing…
…is the connection between people and products
…helps identify, satisfy, and retain customers
…facilitates the exchange between the firm and its
customers
…is a process of planning, executing, and evaluating
© 2004 Mark H. Hansen
What is Marketing?
The Marketing Process
Customers
Competitors
Product
Evaluate & Update
© 2004 Mark H. Hansen
Capabilities
What is Marketing?
Marketing’s Role in an Organization
• One of several functional areas
• Role of marketing will vary depending on the
nature of the organization
-consumer oriented
-production oriented
-sales oriented
© 2004 Mark H. Hansen
What is Marketing?
Human
Resources
Accounting
Production
Marketing
Procurement
Finance
R&D
© 2004 Mark H. Hansen
What is Marketing?
Human
Resources
Accounting
Production
Marketing
Procurement
Finance
© 2004 Mark H. Hansen
R&D
What is Marketing?
The C’s of Marketing
Consumer Content
• customer focused
• know the customer
• repeatedly inform the customer
© 2004 Mark H. Hansen
What is Marketing?
The C’s of Marketing
Company Capabilities
• marketers are aware of firm capabilities
Communication
• much more than advertising
• multiple sources of information
© 2004 Mark H. Hansen
What is Marketing?
The C’s of Marketing
Competition
• competitive intelligence
Cross Functional Contact
• marketers recognize ‘functional interdependence’
© 2004 Mark H. Hansen
What is Marketing?
The C’s of Marketing
Community Contact
• similar to external analysis
• learn what is important to constituents
© 2004 Mark H. Hansen
What is Marketing?
The Marketing Plan
• based on business level strategy
-consistent with the mission of the firm
• the plan should lead to competitive advantage
-customers prefer the product over competition
-customers perceive more value in
the product
© 2004 Mark H. Hansen
What is Marketing?
The Marketing Plan
Mission
Situation Analysis
Objectives
Strategy
Implementation
Budgeting
Evaluation
Marketing Mix
• Product
• Distribution
(Place)
• Communication
(Promotion)
• Price
© 2004 Mark H. Hansen
What is Marketing?
Marketing Mix or the Four P’s of Marketing
Products
• needs & wants
• ability to change
• subject to constant challenge
-imitation
-comparative improvement
© 2004 Mark H. Hansen
What is Marketing?
Marketing Mix or the Four P’s of Marketing
Place (Distribution)
• the right product in the right place at the
right time
• optimal distribution channel
• target market issues
© 2004 Mark H. Hansen
What is Marketing?
Marketing Mix or the Four P’s of Marketing
Promotion (Communication)
• multiple audiences for the message
-consumer
-distributor
-employees
-general public
© 2004 Mark H. Hansen
What is Marketing?
Marketing Mix or the Four P’s of Marketing
Price
• key element in consumers’ ‘value’ mental
calculus
• communicates multiple messages
• key point of competition (competitive lever)
© 2004 Mark H. Hansen
What is Marketing?
Marketing is a firm’s link to customers
Marketing is a continuous process
Marketing must be integrated with the other
functions of the firm
Successful marketing is a matter of supplying
customers’ needs better than the competition
© 2004 Mark H. Hansen