2Intro to Marketing 525_MBA
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Transcript of 2Intro to Marketing 525_MBA
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8/12/2019 2Intro to Marketing 525_MBA
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MarketingMarketing is Everything
- Regis McKenna, HBR, 1991
The End of Marketing- Regis McKenna, Business 2.0, 2000
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AnIntroduction to Marketing
Marketing defined:
Marketing is an organizational
functionand a set of processes
for creating, communicating,and delivering value to
customers and for managing
customer relationships in ways
that benefit the organizationand its stakeholders.
-American Marketing Association(And hereafter regarding definitions)
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Organizational Functions
What do firms really do?
Theories: Economic - Financial
Agency - Managerial
Resource Allocation -Managerial
Competitive Rationality - Marketing
Adaptive Organization Managerial
Transaction Function - Economic
Knowledge-Based
Cross-Functional Information Processing
Learning/Teaching
Where is MARKETING in all this?
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8/12/2019 2Intro to Marketing 525_MBA
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Organizational Functions
What do firms really do?
Theories: Economic - Financial
Agency - Managerial
Resource Allocation -Managerial
Competitive Rationality - Marketing
Adaptive Organization Managerial
Transaction Function - Economic
Knowledge-Based
Cross-Functional
Intelligence Cycle
Learning/Teaching
MARKETING
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Knowledge-Based Theory of the Firm
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AnIntroduction to Marketing
Marketing defined:
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 organizationand its stakeholders.
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8/12/2019 2Intro to Marketing 525_MBA
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VISION
The Fundamental Model
STRATEGY OPERATIONS TACTICS
VALUE
Loyalty/Love Belief/Behavior Custom/Habituation
Build FOCUS and
Mind Share
Build TRUST and
Access Share
Build CAPABILITY and
Market Share
Build FRANCHISE
and Heart Share
ProcessServiceBranding
Value Indicator
IT/IMResearch/DDDistribution/Logistics
SegmentationMacro/Micro
Methodology
Targeting
Size
Dynamic
Leverage
PositioningReason for Being
Offering
Four Ps (Concept/Creativity)
Product/Promo/Price
Place/ plus 1 + People
Selling (Capture)
B2B (Buyer-Seller/Promo)
B2C (Advertising)
C2C (Buzz/Virus/Referral)
Differentiation
Content (What)
Context (How)
Infrastructure (Enables)
Value creation and destructionValue culture
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8/12/2019 2Intro to Marketing 525_MBA
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AnIntroduction to Marketing
Marketing defined:
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 organizationand its stakeholders.
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8/12/2019 2Intro to Marketing 525_MBA
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The Communication Process
SENDER RECEIVERMEDIUM
Sponsor (sender) encodes message properly (or NOT) Sponsor sends message through the channel (medium) to
the consumer (receiver).
Consumer receives the message and decodes it into
meaningful information (or NOT)
Attitude: Self-Referencing Issues Attitude: Cultural Filter Issues
Firm Intermediary; Customer
Noise
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8/12/2019 2Intro to Marketing 525_MBA
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AnIntroduction to Marketing
Marketing defined:
Marketing is an organizational
function and a set of processes
for creating, communicating,and delivering valueto
customers and for managing
customer relationships in ways
that benefit the organizationand its stakeholders.
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8/12/2019 2Intro to Marketing 525_MBA
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Value can be expressed several ways. Three of the clearest are:
Benefits (total get)Value = ---------- or more specifically,
Price (total give)Fb + EbValue = --------- where,
P + Oe
Fb = Functional benefits (utility)
Eb = Emotional benefits (psychology)
P = Price (charged) for acquisitionOe = Other expenses/costs of acquisition and finally
Value = You answered my question!
Solved my problem!
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Classic Marketing Development SequenceTime/Space
1930s
Today
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AnIntroduction to Marketing
Marketing defined:
Marketing is an organizational
function and a set of processes
for creating, communicating,and delivering valueto
customers and for managing
customer relationshipsin ways
that benefit the organizationand its stakeholders.
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8/12/2019 2Intro to Marketing 525_MBA
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customer relationship management
A discipline in marketing combining database
and computer technology with customerservice and marketing communications.
Customer relationship management (or CRM)
seeks to create more meaningful one-on-one
customer communications by applying
customer data (demographic, industry, buying
history, etc.) to every communications vehicle.
At the simplest level, this would include
personalizing e-mail or other communications
with customer names.At a more complex level,CRM enables a company to produce a consistent,
personalizedmarketing communicationwhether
the customer sees an ad, visits a Web site, or calls
customer service.
C R M
American Marketing Association
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AnIntroduction to Marketing
Marketing defined:
Marketing is an organizational
function and a set of processes
for creating, communicating,and delivering valueto
customers and for managing
customer relationshipsin ways
that benefit the organizationand its stakeholders.
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8/12/2019 2Intro to Marketing 525_MBA
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Stakeholders
One of a group of publics with which a company must
be concerned. Key stakeholders include consumers,
employees, stockholders, suppliers, and others who
have some relationship with the organization.
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Overall Discussion and Questions
Syllabus and assignments
Textbook
Objectives
What marketing is
Who is involved in the course
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