BUAD 307 Marketing

BUAD 307 Marketing - BUAD 307 Marketing-Intro Lecture...

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Unformatted text preview: BUAD 307 Marketing-Intro Lecture 17/01/2008 13:59:00-Marlene Morris Townes I) What is Marketing? a) Marketing is an organizational function and a set of processes for creating , communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders. b) The 4 Ps +1P Product Price Place Promotion Packaging 29 Exchange At least two parties Something of value communication and delivery Freedom to walk away III) Vital Mkt Activities Asses wants and needs Design and manage products Determine prices and pricing policies o many companies fail because of improper pricing develop distribution strats. o Internet, everything online, no retail settings Communicate with present and pot. Customers IV) Philosophies Production o Internal capabilities of firm Sales o Aggressive techniques and belief Market o Satisfying customer needs and wants while meeting objections Societal o Satisfying customer needs and wants while enhancing individual and societal well-being V) Marketing Concept Focusing on customer wants and needs to distinguish products from comp. VI) Marketing Orientation Obtain info about all aspects Examine info from a total aspect Develop Implement VII) Relationship Marketing A strategy that focuses o keeping and improving relationships with current customers o Easier and cheaper to maintain customers rather than gain new ones VIII) Course Structure 3 Cs o Company o Competition o Customer 4 Ps o Product o Price o Place o Promotion o 5th P: Packaging IX) LevisMore than just jeans? Marketing Strategy New Product Development Segmentation/targeting/positioning Advertising and promotion Retail strategy Market research Sales X) Creating Value 17/01/2008 13:59:00 To create valueyou have to understand your customer! Value Delivery Process Traditional o Design, procure, make, price, sell, advertise, distribute, service Value creation and delivery sequence o Customer segmentation, market selection focus, value positioning, product development, service development, pricing, sourcing making, distributing, service, sales force, sales promotion, advertising Needs and Trends Fad Trend Mega trend o Aging boomers, delayed retirement, changing nature of work, greater educational attainment, labor shortages, increased immigration, rising Hispanic influence, shifting birth trends, widening geographic differences, changing age structure Social Change What social change has had the biggest effect on marketing than probably...
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This note was uploaded on 04/24/2008 for the course BUAD 307 taught by Professor Morristowns during the Spring '07 term at USC.

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BUAD 307 Marketing - BUAD 307 Marketing-Intro Lecture...

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