1、Introduction to MarketingIntroduction to MarketingMiss Mary Lynn MundellIntroduction to MarketingWhat Is Marketing?Simple definition:Marketing is the management process responsible for identifying,anticipating,and satisfying customer requirements profitably.”(CIM,2001)Goals:1.Attract new customers b
2、y promising superior value.2.Keep and grow current customers by delivering satisfaction.Introduction to MarketingMarketing Defined Marketing is the activity,set of instructions,and processes for creating,communicating,delivering,and exchanging offerings that have value for customers,clients,partners
3、,and society at large.OLD view of marketing:Making a sale“telling and selling”NEW view of marketing:Satisfying customer needsIntroduction to MarketingWhy is Marketing Important?Shifting Business ParadigmsSellers marketsBuyers marketsIntroduction to MarketingThe Marketing ProcessA simple model of the
4、 marketing process:Understand the marketplace and customer needs and wants.Design a customer-driven marketing strategy.Construct an integrated marketing program that delivers superior value.Build profitable relationships and create customer delight.Capture value from customers to create profits and
5、customer quality.Introduction to MarketingNeeds,Wants,and DemandsNeed:State of felt deprivation including physical,social,and individual needs.Physical needs:Food,clothing,shelter,safety Social needs:Belonging,affection Individual needs:Learning,knowledge,self-expressionWant:Form that a human need t
6、akes,as shaped by culture and individual personality.Wants+Buying Power=DemandIntroduction to MarketingNeed/Want FulfillmentNeeds&wants are fulfilled through a Marketing Offering:Products:Persons,places,organizations,information,ideas.Services:Activity or benefit offered for sale that is essentially
7、 intangible and does not result in ownership.Experiences:Consumers live the offering.Introduction to MarketingCustomer Value and SatisfactionDependent on the products perceived performance relative to a buyers expectations.Care must be taken when setting expectations:If performance is lower than exp
8、ectations,satisfaction is low.If performance is higher than expectations,satisfaction is high.Customer satisfaction often leads to consumer loyalty.Some firms seek to DELIGHT customers by exceeding expectations.Introduction to MarketingMarketing ManagementThe art and science of choosing target marke
9、ts and building profitable relationships with them.Requires that consumers and the marketplace be fully understood.Aim is to find,attract,keep,and grow customers by creating,delivering,and communicating superior value.Introduction to MarketingMarketing ManagementMarketing managers must consider the
10、following,to ensure a successful marketing strategy:1.What customers will we serve?What is our target market?2.How can we best serve these customers?What is our value proposition?Introduction to MarketingChoosing a Value PropositionThe set of benefits or values a company promises to deliver to consu
11、mers to satisfy their needs.Value propositions dictate how firms will differentiate and position their brands in the marketplace.Introduction to MarketingThe Marketing ConceptThe marketing concept:A marketing management philosophy that holds that achieving organizational goals depends on knowing the
12、 needs and wants of target markets and delivering the desired satisfaction better than competitors.Introduction to MarketingCustomer Perceived ValueCustomer perceived value:“Customers evaluation of the difference between all of the benefits and all of the costs of a marketing offer relative to those
13、 of competing offers.”(Armstrong&Kotler)Perceptions may be subjective Consumers often do not objectively judge values and costs.Customer value=perceived benefits perceived sacrifice.Introduction to MarketingThe set of controllable,tactical marketing tools that the firm blends to produce the response
14、 it wants in the target market.Product:Variety,features,brand name,quality,design,packaging,and services.Price:List price,discounts,allowances,payment period,and credit terms.Place:Distribution channels,coverage,logistics,locations,transportation,assortments,and inventory.Promotion:Advertising,sales
15、 promotion,public relations,and personal selling.The Marketing MixIntroduction to MarketingIntroduction to MarketingIntroduction to MarketingMarketing StrategyIntroduction to MarketingCustomer-Driven Marketing StrategyRequires careful customer analysis.To be successful,firms must engage in:Market se
16、gmentation Market targeting Differentiation PositioningIntroduction to MarketingSegmentation:The process of dividing a market into distinct groups of buyers with different needs,characteristics,or behavior who might require separate products of marketing programs.Targeting:Involves evaluating each m
17、arket segments attractiveness and selecting one or more segments to enter.Market Segmentation and TargetingIntroduction to MarketingDifferentiation and PositioningDifferentiation:Creating superior customer value by actually differentiating the market offering.Positioning:Arranging for a product to o
18、ccupy a clear,distinctive,and desirable place relative to competing products in the minds of target consumers.Introduction to MarketingMarket SegmentationKey segmenting variables:Geographic Demographic Psychographic BehavioralDifferent segments desire different benefits from products.Best to use mul
19、tivariable segmentation bases in order to identify smaller,better-defined target groups.Introduction to MarketingMarket SegmentationWhy Segment?:Meet consumer needs more precisely Increase profits Segment leadership Retain customers Focus marketing communicationsIntroduction to MarketingEvaluating M
20、arket SegmentsSegment size and growth:Analyze current segment sales,growth rates,and expected profitability.Segment structural attractiveness:Consider competition,existence of substitute products,and the power of buyers and suppliers.Company objectives and resources:Examine company skills and resour
21、ces needed to succeed in that segment.Offer superior value and gain advantages over competitors.Introduction to MarketingMarket TargetingMarket targeting involves:Evaluating marketing segments.Segment size,segment structural attractiveness,and company objectives and resources are considered.Selectin
22、g target market segments.Alternatives range from undifferentiated marketing to micromarketing.Being socially responsible.Introduction to MarketingDifferentiation and PositioningA products position is:The way the product is defined by consumers on important attributesthe place the product occupies in
23、 consumers minds relative to competing products.Perceptual positioning maps can help define a brands position relative to competitors.Introduction to MarketingDifferentiation and PositioningIdentifying possible value differences and competitive advantages:Key to winning target customers is to understand their needs better than competitors do and to deliver more value.Competitive advantage:Extent to which a company can position itself as providing superior value.Achieved via differentiation.Introduction to MarketingThank you.
