Intro-Ethics%20Slides0

Intro-Ethics%20Slides0 - Welcome to Marketing Management 22...

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Unformatted text preview: Welcome to Marketing Management 22 WHAT IS MARKETING? O bj1 0 33 Marketing: Definition : Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large 44 MARKETING AS EXCHANGE SELLER Items of Value Items of Value BUYE R 55 KEY TERMS: NEED: WANT: BENEFIT: DEMAND: VALUE: Why do people buy products? 66 TOOLS TO MAKE EXCHANGE MORE LIKELY THE MARKETING MIX (4 P’s) Product __________ P lace __________ Price__________ Promotion__________ 77 EVOLUTION OF A CONCEPT How does your company approach exchange?? • Production • Product • Selling • Marketing • Relationship Marketing Click to edit Master subtitle style Marketing Strategy GOAL: Create more value for your customers and your strategic partners than the competition BUT: “If you don’t know where you are going you might end up somewhere else” 88 The Marketing Plan • “The marketing plan starts with the customer and works its way around to the business” – Sir George Bull • Thus, it starts with a strong understanding of the customer and his/her environment • Plan is usually: – for one year, – developed by multiple areas of the business 99 Goals of the Marketing Plan • Identify internal strengths that you can capitalize upon to meet customers’ needs better than the competition (for you have identified the competitors’ weaknesses) • ID potential opportunities and threats in the marketplace 1010 1111 STRATEGIC ISSUES • WHERE ARE WE NOW? • WHERE DO WE WANT TO GO? • HOW DO WE GET THERE? 1212 Where are we now and where are we going? SWOT Analysis: Strengths Opportunities Weaknesses Threats 1313 The firm must have these strengths • Knowledge of markets and customers • Core Competencies – Skills, technologies and processes that give the company competitive superiority in effectively and efficiently satisfying customers What is your core – Superior manufacturing processes – Strong advertising – Good relationships with distributors – Lower relative costs – Great service – Brand equity/awareness/loyalty – Quality reputation – Innovative features with strong benefits. – Better distribution – Intellectual property – Ability to adapt 1414 The “hot” word: • Sustainable marketing: “The establishment, maintenance and enhancement of customer relationships so that the objectives of the parties involved are met without compromising the ability of future generations to achieve their own objectives” • Environmental sustainability The Purple Cow...
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This note was uploaded on 10/16/2010 for the course B&E BADM 691 taught by Professor France during the Spring '10 term at WVU.

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Intro-Ethics%20Slides0 - Welcome to Marketing Management 22...

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