3104
Marketing
Management
Dr. MKTG Klein
CLASS OBJECTIVES
1. Course Overview
People
Purpose
Structure and Policies
2. Introduce some marketing ideas
Key definitions
Major themes of the course
INSTRUCTORS
Professor
Dr. Klein
Graduate Assistants
Katie Cox
A.J. Lemaitre
WHO ARE YOU?
IN MARKETING TERMS
MARKET
People with the desire and ability to buy
a specific product.
PRODUCT
A good, service, or idea that satisfies
the customers needs.
COURSE PURPOSE
Teach you the fundamentals of marketing
and its role in both organizations and
society
Why should you want to learn this?
MY RESPONSIBILITIES
Make the lectures as clear and interesting
as I can
Work hard to make exams a fair test of
textbook and lecture content
Protect you from cheating
Respond to students who need help.
Apply policies fairly
YOUR RESPONSIBILITIES
Learn the material
Know the course structure, policies, and
resources
(Scholar syllabus, assignments, and
PowerPoint slides
resources)
4 midterms (lectures and textbook)
Comprehensive final exam (lectures)
No makeup exams
Drop one of the five exam grades
Extra credit Pamplin Research Lab
Application Exercise
Required Textbook
Marketing
Tenth Edition
Roger Kerin
Steve Hartley
Bill Rudelius
YOUR RESPONSIBILITIES
Learn the material
Know the course structure, policies, and
resources
(Scholar syllabus, assignments, and
resources)
Seek help when you need it
Behave ethically
IN MARKETING TERMS
As a customer, you are buying a
service.
SERVICE: Intangible activities or
benefits that an organization
provides in exchange for money
or something of value
IN MARKETING TERMS
Education is a co-produced
service.
Co-produced service : the
consumer works with the seller
to create the service experience
The customer influences the
quality of the service.
What is
Marketing?
Marketing is the activity for creating,
delivering, communicating, and exchanging
offerings ..
.that benefit the organization, its
stakeholders, and society at large.
COMMENT 1.
What is
Marketing?
Marketing is the activity for creating, delivering,
communicating, and exchanging offerings
.that benefit the organization, its stakeholders,
and society at large.
COMMENT 2.
Creates products and services (form utility)
Makes them available (place utility)
When needed (time utility)
Facilitates their purchase (possession utility)
What is
Marketing?
Marketing is the activity for creating, delivering,
communicating, and exchanging offerings ..
.that benefit the organization, its stakeholders,
and society at large.
customers, shareholders, channel employees,
suppliers, members
COMMENT 3: The scope of marketing
The Scope of Marketing
For profit
businesse
s
Who markets?
Nonprofit
businesse
s
Governmen
t
Private
Individuals
What do they market?
PRODUC
TS
SERVICE
S
IDEAS
Requirements for Marketing To
Occur
Two or more parties with unsatisfied
needs
Ability and willingness to satisfy them
A way to communicate
Something to exchange
Marketings Emergence
Eras in business focus
Production
Societal
Marketing
Product
Relationship
Marketing
Sales
Marketing
The Production Concept
Focus on production
efficiency
Make products
available and sell
them cheaply
High demand, low
supply. developing
countries?
The Product Concept
Create high quality
products and
improve
them over time
Focus on
engineering,
common in
technology
driven firms
The Sales Concept
Create offerings
Get customers to buy them.
Focus on the needs of the
seller
The purpose of marketing is to sell
more stuff to more people more
often for more money in order to make
a profit.
Sergio Zyman
VP of Marketing, Coke
The Marketing Concept
Identify and satisfy the
needs of customers in a way
that achieves organizational
goals
How do you identify needs,
especially those customers
dont realize?
Motorola: Our biggest
competitor isnt IBM or Sony,
its the way people currently
Relationship Marketing Concept
Build mutually
satisfying longterm relationships
with customers
Build trust and
commitment
Trade off short
term profit for long
term gains
Societal Marketing Concept
Satisfy customer
needs in a way
that provides for
societys wellbeing
Requires
corporate social
responsibility
Marketing in the Organization
1. An organizations philosophy (the concept they
follow) is important because it drives resource
allocation, priorities, goals, and marketing
decisions
marketing research
product R&D
green marketing practices
Marketing in the Organization
2. Marketing principles may be individually easy
to understand, but marketing decisions that
apply those principles successfully are difficult.
Lowering price (usually) increases demand.
Consumers sometimes judge quality by price.
Strong brands can command high prices.
Consumers often do not notice price and
packaging changes.
Course Themes
1. Focus on the customer is critical to long-term
success.
2. Marketing adds value (utility).
3. Marketing affects society as well as business.
Analyze ethical and social implications.
4. Most marketing principles are not hard to
understand. Marketing decisions are complex and
enormously
challenging.