Chapter 15,16,17 Marketing

Chapter 15,16,17 Marketing - 1 RSM100 An Introduction to...

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Unformatted text preview: 3/4/2010 1 RSM100 An Introduction to Business and Management Marketing Management Dilip Soman Dilip Soman Rotman School of Management • http://adland.tv/SuperBowlCommercials From a consumer’s perspective.... Dilip Soman • What lies beneath? 1) Consumer Psychology 2) Segmentation, Targeting and Dilip Soman Targeting and Positioning 3) Products and Services 4) Market Research 5) Pricing and Promotion 6) Retailing 3/4/2010 2 Outline for March 10, 17th • What is marketing? • The fundamental principles • Examples Dilip Soman • Skills and where to get them –Marketing electives and careers Claim “Of all the disciplines in business, the most innovative [both in the recent past and in the future] and dynamic Dilip Soman past and in the future] and dynamic discipline is marketing”. What is Marketing? planning and executing the d l t i i ti d di t ib ti Dilip Soman development, pricing, promotion and distribution of ideas, goods, services to create exchanges that satisfy both buyers’ and sellers’ objectives 3/4/2010 3 In simpler language • Market making: Connecting buyers and sellers Dilip Soman • Value creation: Providing valuable products profitably Two underlying factors: Information and Physical Distribution • Marketing is too important to be left to the marketing department.... Dilip Soman What is Marketing? • Two basic activities –Identifying customer needs and wants Dilip Soman –Getting the product to the customer 3/4/2010 4 Massive Innovations in Information and Physical Distribution Dilip Soman Dilip Soman Videos Defining Competition • Other ways in which people can solve the problem that you solve for them Dilip Soman –FedEx’ competition = • Other courier companies [UPS, Purolator] • Other mail carrying companies [US Post] • Other means of physical distribution [Railroads, Shipping] • Other means of communication [Conference Calling, Electronic Fund Transfers] 3/4/2010 5 • The value –Targeted advertising –Database / data mining Dilip Soman –Viral marketing S T P Marketing in a nutshell Dilip Soman C C C P P P P The basic ideas apply to and have been used by: • For-profits and not for profits –Including government organizations • Products and Services • All industries and verticals, including Dilip Soman –Financial services –Accounting firms –Consulting firms • Business to consumer as well as business to business firms • Internationally 3/4/2010 6 Marketing Tasks Look for Opportunities Consumer Segmenting Implement Positioning Product Dilip Soman Competition Company (Uncontrollable 3Cs) Segmenting Targeting Positioning (STP) Price Promotion Place (Controllable 4Ps) Segmentation : The act of slicing up the total market Targeting : The act of choosing one (or more) slice slice Positioning : The act of giving your product some image to people in the chosen slice Dilip Soman Identifying Market Segments Search for common traits between consumers Focus on traits that affect product need or...
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Chapter 15,16,17 Marketing - 1 RSM100 An Introduction to...

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