Marketing ppt1

Marketing ppt1 - Chapter 1 Create and Deliver Value Welcome...

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Chapter 1 Create and Deliver Value Welcome to a “Brand You” o You are a product and have “market value” as a person o You “position” yourself for a job interview o Don’t “sell yourself short” o Personal image consultants often help people to devise a “marketing strategy” o Your choice of goods and services allows you to package and promote yourself The Who and Where of Marketing Marketers: Are real people who make choices that affect themselves, their companies, and millions of consumers (see “Real People, Real Choices”) Work cross-functionally within the firm Enjoy exciting, diverse careers The Value of Marketing Definition of marketing (AMA, 2007) 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. Marketing Meets Needs o Marketing meets the needs of diverse stakeholders Stakeholders are buyers, sellers, investors, community residents, citizens o Marketing concept Identifying and satisfying consumer needs to ensure long-term profitability o The modern marketplace Takes many forms, including a mall, eBay auction, e-commerce Web site Marketing is about Creating Utility o Utility: The sum of the benefits we receive from using a product/service Form utility Place utility
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Time utility Possession utility Marketing is about Exchange Relationships An exchange occurs when something is obtained for something else in return—like cash for goods or services Buyer receives an object, service, or idea that satisfies a need Seller receives something of equivalent value Example: money, barter of services or goods, trade-ins The Evolution of Marketing o The Production Era Production orientation Dominated by production orientation: A management philosophy that emphasizes the most efficient ways to produce and distribute products. Marketing played an insignificant role o The Sales Era Selling orientation When product availability exceeds demand, businesses may focus on a one-time sales of goods rather than repeat business Dominated by selling orientation: Managerial view of marketing as a sales function, or a way to move products out of warehouses to reduce inventory o The Relationship Era Consumer orientation Total quality management Focused on a customer orientation: A management philosophy that emphasizes satisfying customers’ needs and wants Marketing becomes more important in the firm Total Quality Management (TQM) is widely followed in the marketing community o The Triple Bottom Line Era: Make Money and a Contribution
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Focuses on building long-term bonds with customers Triple orientation seeks to maximize the financial, social, and environmental bottom lines Marketing uses customer relationship management (CRM): CRM involves systematically tracking consumers’ needs in ways that also benefit
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Marketing ppt1 - Chapter 1 Create and Deliver Value Welcome...

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