BUS7450Strategic Marketing Management
Week 1Dr. Jenne Meyer
BUS7500 Introductions
Who are you? Where do you work? Experience with Marketing or Product Management? Expectations of this course? Your first concert or fun fact
Discuss syllabus Weekly article presentations Final call project presentation Class schedule (April 5th, *April 12th, *April 26th)
Groundrules
1Defining Marketing for the 21st Century
Chapter Questions
Why is marketing important? What is the scope of marketing? What are some fundamental marketing
concepts? How has marketing management changed? What are the tasks necessary for successful
marketing management?
What is Marketing?
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-5
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.
What is Marketing Management?
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-6
Marketing management is theart and science
of choosing target markets and getting, keeping, and growing
customers throughcreating, delivering, and communicating
superior customer value.
What is Marketed?
What is Marketed? What in this class is marketed? What in this class is not marketed? How are you impacted at work by marketing? How are you impacted at home by marketing? What do you like about marketing? What don’t you like about marketing?
What is Marketed?
• Goods
• Services
• Events
•
Experiences
• Persons
• Places
• Properties
•
Organizations
• Information
• Ideas
Demand States
Negative Nonexistent Latent Declining
Irregular Unwholesome Full Overfull
Figure 1.1 Structure of Flows in Modern Exchange Economy
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-10
Figure 1.2 A Simple Marketing System
Key Customer Markets
Consumer markets Business markets Global markets Nonprofit/Government markets
Core Concepts
Needs, wants, and demands
Target markets, positioning, segmentation
Offerings and brands Value and satisfaction
Marketing channels Supply chain Competition Marketing environment Marketing planning
Types of Needs
Stated
Real
Unstated
Delight
Secret
Target Markets, Positioning & Segmentation Separate into groups based on the following
Coffee v hot chocolate Car v truck/SUV Over v under Cable v satellite Kids v no kids
Offerings and Brands
Value and Satisfaction
Marketing Channels
Communication
Distribution
Service
Marketing Environment
Demographic Economic
Socio-cultural
NaturalTechnological
Political-legal
Major Societal Forces
Network information technology
Globalization Deregulation Privatization Heightened competition
Industry convergence Retail transformation Disintermediation Consumer buying power Consumer participation Consumer resistance
Company Orientations
Production
Product
Selling
Marketing
Holistic Marketing
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-22
Relationship Marketing
Customers
Employees
Marketing Partners
Financial Community
Integrated Marketing
Internal Marketing
Internal marketing is the task of hiring, training, and motivating able employees
who want to serve customers well.
Performance Marketing
Financial Accountability
Social Responsibility Marketing
Types of Corporate Social Initiatives
Corporate social marketing Cause marketing Cause-related marketing Corporate philanthropy Corporate community involvement Socially responsible business practices
The Marketing Mix
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-28
The Four Ps
The New Four Ps People Processes Programs Performance
The Old Four Ps Product Placement Promotion Pricing
Marketing Management Tasks
Develop market strategies and plans Capture marketing insights Connect with customers Build strong brands Shape market offerings Deliver value Communicate value Create long-term growth
Video
http://www.pbs.org/wgbh/pages/frontline/shows/cool/
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 1-31
Class wrap up
What is due for next week
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