Current Marketing Issues Seminar

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Current Marketing Issues Seminar
BA635Dr. Ed Forrest
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E

• Telephone
• (Office) 786-4161
• (Cell) 854-8784
• Email
• afejf1_at_uaa.alaska.edu
• W3site http//faculty.cbpp.uaa.alaska.edu/afef/

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Everything is Online
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Tonight

• Discuss the Defining
• Components of our Seminar
• Current Marketing Issues

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What is Marketing?
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Everybody is a Marketer

• Everybody promotes themselves.
• Packages themselves ..
• Everybody has their price

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Always been Marketers

• Innate sense of exchange
• 1,000s of years
• bartered traded branded goods services

Im calling it HOT
The Dawn of Marketing
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The Evolution of Marketing
From Specific Function
To General Orientation.
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Classic Functional Definition

• All activities performed in between
• The Point of Production
• The Point of Consumption

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1st Formal Definition 1919
Marketing and Merchandising by Ralph Butler
John Swinney,

• Marketing defined as the manner in which the
  product is disposed of, the way in which it is
  distributed, through various channels of
  trade. 

• Book distinguishes marketing from merchandising,
• w/ marketing being something manufacturers do
• merchandising being the domain of jobbers
  retailers.

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Marketing Defined -1935 -
The performance of business activities that
direct the flow of goods services from
producers to consumers.
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Marketing Defined-as a Process- 1985
"The process of planning executing the
conception, pricing, promotion distribution of
ideas, goods services to create exchange
satisfy individual organizational objectives"
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The Marketing Process
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Strategic Planning
Situation Analysis
Marketing Strategy

• Company
• Consumers
• Competitors
• Conditions
• PEST

Growth Competitive Strategies
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The Latest Official AMA Definition (circa
2004)
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• ..an organizational function a set of
  processes
• for creating, communicating delivering value to
  customers
• for managing customer relationships in ways
  that benefit the organization its stakeholders

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Why the changed focus?
What happened between 1985 2004 that made the
AMA change the definition of marketing?
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Marketing should be customer-centric -- not
brand-centric"
The AMA Rationale Technology marketing been
changing quite rapidly over last five to 10
years

• The 1985 definition was not encompassing enough.
  The new definition more clearly infuses the
  customer into marketing."

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Management Reorientation

• Focus on Consumer
• Not product

Long Term Relationships Not
Short-term Sales
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Marketings new definitionreflects a broadened
focus --

• Was focused on short term profitable
  transactions
• Now look at customers' lifetime value
• Was focused on capturing new customers.
• Now focus on keeping existing customers
• Was focused on mass- media advertising......
• Now use integrated strategy w/ all points of
  contact
• Was segmented on geo/demographic variables
• Now use all relevant variables, especially
  behavioral variables -- usage rate loyalty
• Performance was measured by financial metrics
• Now also measured strategic customer-satisfactio
  n metrics

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Marketing gt Function An Orientation

• Marketing is
• the whole business seen from the point of view
  of its final result, -from the customers point
  of view.

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Changed focus--resulted in restructuring

• Company was organized by product units.....
• Now organized by customer segment
• The marketing department did the marketing
• Now everyone does some marketing
• Company was the unit of analysis.........
• Now whole value chain is unit of analysis
• Had individual / hierarchical work structures
• Now cross functional teams

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• Marketing

Next Step- ID the issues
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Ramkhamhaeng University  Institute for
International Studies GB 635 Current Issues in
MarketingCourse Outline
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London Metropolitan University MK3P04 Current
Issues in Marketing

• Syllabus
• Developing criteria to evaluate marketing plans
  against selected issues.Creating appropriate
  research methods to investigate issues.Ethics
  and the practise of marketing

• Sample issuesGreen MarketingConsumerismUse
  of I.T. in marketingBrand ValuationStereotyping
  in advertising

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Marketing Issues- as delineated by 1999 UAA
Syllabus

• Marketing performance
• The Creation of Customer Satisfaction Value
• Buyer Behavior
• Relationship Marketing
• Inter-firm Relationships in Marketing
• Services Marketing Service Quality
• Competition Strategy
• Marketing and Information Technology
• Marketing Globally
• Ethics and Legal Issues in Marketing

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As it is -On Any Syllabus, any Year or Day- One
can find Issues of

• Product Quality
• Service Quality
• Consumer Confidence/Satisfaction
• Value/Pricing Practices
• Free/Fair trade
• Globalization
• Advertising (volume, veracity, political-correctne
  ss)

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Whats most relevant-
Depends on Your Perspective

• Marketer-
• Issues factors that affect sales
• Consumer-
• Issue factors that affect ones sensibilities

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Fact is--these most issues

• Are
• RE-CURRENT issues-
• that Ebb Flow
• w/ socio-economic events

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We could- examine all these issues 1 by 1
Quite taxing Just too Superficial
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Yes you seem to be suffering from a marketing
issue
Examining only symptoms --not diagnosing the
cause
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Ergo- the Real Question is.
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Ergo- the Real Question is.
Where do marketing issues come from?
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Marketings utility/value derived from its
Facilitation of Exchange!
Temporal Utility Spatial Utility  Transactional
Utility
Marketing
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Key Point Keep Marketing in Perspective
Seller
Buyer

• Anything/Everything one does to facilitate
  exchange

Whatever impacts Why- What- Where- When- How
Exchange occurs is (or becomes) an Issue
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Marketing Issues in Perspective

• Marketing - part of Business
• Business - part of Society

Societal Change creates issues for
Business which creates issues for Marketing
Marketing
Business
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Thus- in order to identify- anticipate-
understand
Marketing Issues in particular
One needs to identify-anticipate-understand
Societal Change in general
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Society Defined

• A group of humans broadly distinguished by
• mutual interests,
• participation in characteristic relationships,
• shared institutions,
• a common culture

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In the final analysis marketing strategy is
formulated to address

• Patterns of/changes to
• human interests, relationships, institutions
  culture

Hence- our search for marketing issues begins w/
examination of
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what better time to study Societal Change

• We are living thru one of the great periods of
  societal change in the history of humankind

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Were in midst - next great Paradigm Shift

• in the way we
• live, communicate, work, produce consume

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• An entirely new increasingly
• complex ecosystem has emerged,
• which impacts the way people
• connect, engage, influence,
• -- are influenced.

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• Social Media Revolution Socialnomics

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Online Ad Spend to Overtake TV by 2016- FORBES
Tech 8/26/2011
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Major Marketing Issues 2012

• 1 How do I measure the effect of social media
  marketing on my business?

• 2 How do I integrate and manage all of my
  social media marketing activities?

• 4 How do I improve customer engagement with
  social media?

• 3 What are the best ways to sell with social
  media?

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Major Marketing Issues 2012

• 5 How do I master the use of specific social
  media platforms?

• 6 How do I effectively find my target audience
  with social media?

• 7 What are the best practices in social media
  marketing?

• 8 How do I use social media in niche markets?

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the keyword has changed For anyone going into
business these days
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The New word is Algorithm
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Algorithms derived via Analytics
...the process of obtaining an optimal or
realistic decision based on existing data.
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New Marketing Mgt. Tools Technologies all
about capturing, generating, analyzing,
leveraging DATA
DATA
08/20/11 Why Software Is Eating the World
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• Six decades into the computer revolution
• four decades since the invention of the
  microprocessor
• two decades into the rise of the modern Internet
• ----all of the technology required to transform
  industries through software finally works and can
  be widely delivered at global scale

In 2000..the cost of a customer running a basic
Internet application was 150,000 a month. same
application today in Amazon's cloud costs 1,500
a month
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• Today, the world's largest bookseller, Amazon, is
  a software company
• Today's largest video service by number of
  subscribers is a software company Netflix
• Today's dominant music companies are software
  companies, too Apple's iTunes, Spotify , Pandora
• Today's fastest growing entertainment companies
  are videogame makers
• Photography, of course, was eaten by software
  long ago.
• Today's largest direct marketing platform is a
  software companyGoogle
• Today's fastest growing telecom company is Skype,
  a software company

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New Mrktg Skill Sets
Data mining Database marketing E-crm Employee
experience management (EEM) Enterprise Feedback
Management (EFM) Partner Relationship
Management (PRM) Predictive analytics
Professional services automation software (PSA)
Sales force management system Sales intelligence
Sales process engineering Support automation
Supplier relationship management International
Customer Service - Vendor Relationship
Management or VRM
Automated online assistant Business intelligence
Business Relationship Management Comparison of
CRM systems Consumer Relationship System
Customer Experience Customer experience
transformation Customer Intelligence Customer
service - contains ISO standards Data management

• Lead Mgt
• Sales Force Mgt

• Digital Asset Mgt
• Web Content Mgt
• Marketing Resource Mgt
• Marketing Operations Mgt

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Competencies Needed by Todays Marketers

• Traditional Skills
• Sales mgt
• Advertising mgt
• Sales promotion mgt
• Marketing research
• Pricing

• PLUS
• CRM -Customer relationship management)
• PRM- Partner relationship management
• MRM-Marketing Resource Mgt. Database Mgt
  Data-mining
• Lifetime Profitability analysis by segment,
  customer, channel
• IMC-Integrated marketing communications Public
  relations -(including event cause sponsorship,
  buzz marketing)