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ELEC 413 Lesson 1.pdf - MODULE 1: THE CHANGING MARKETING...

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MODULE 1: THE CHANGING MARKETING LANDSCAPELearning Outcomes:The following are the learning outcomes of Lesson 1:Explain the importance of marketing in doing business.Apply direct marketing in business situations by understanding the marketing process.Time Frame:Weeks 1 - 2IntroductionHi students! Welcome to Lesson 1! In this lesson, you will learn the importance of direct marketing and how toapply it in business situations.ActivityWhen we talk about phones, what particular brand comes first to your mind?AnalysisBased on your answer above, what made you think first of that brand? Is that a result of a marketingstrategy? Why or why not?Lesson 1INTRODUCTION TO DIRECT MARKETING
Understandthemarketplaceandcustomerneeds andwants.Design acustomer-drivenmarketingstrategy.Construct anintegratedmarketingprogram thatdeliverssuperiorvalue.Buildprofitablerelationshipsand createcustomerdelight.Capturevalue fromcustomers tocreate profitsandcustomerequity.Figure 1.1 The Marketing ProcessAbstractionWhat is Marketing?More than any other business function, marketing deals with customers. Marketing is managing profitable customerrelationships. The twofold goal of marketing is to attract new customers by promising superior value and to keepand grow current customers by delivering satisfaction.For example, Wal-Mart has become the world’s largest retailerand the world’s second-largest companybydelivering on its promise, “Save money. Live better.” Nintendo surged ahead in the videogames market with thepromise that “Wii would like to play,backed by its wildly popular Wii console and growing list of popular games andaccessories for all ages. And Apple fulfills its motto to “Think Different” with dazzling, customer-driven innovationthat captures customer imaginations and loyalty. Its incredibly successful iPod grabs more than 70 percent of themusic player market; its iTunes music store is now the world’s number-two music store-online or offline (Wal-Martis number one).Many people think of marketing only as selling and advertising. Marketing must be understood not in the old senseof making a sale“telling and selling“ –but in the new sense of satisfying customer needs. If the marketerunderstands consumer needs; develops products that provide superior customer value; and prices, distributes, andpromotes them effectively, these products will sell easily.Broadly defined, marketing is a social and managerial process by which individuals and organizations obtain whatthey need and want through creating and exchanging value with others. In a narrower business context, marketing

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Term
Spring
Professor
Kenny Allan Benigno

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