Marketing Is Important!

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Marketing Is Important!

• Marketing impacts all of us in our lives as
  consumers
• Gives us choices
• Stimulates innovation and economic growth
• There are many good job opportunities in
  marketing
• Regardless of what career path you take, no firm
  (or non-profit organization) survives for long if
  it cant satisfy some group of customers.

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Customer Satisfaction

• Customer Satisfaction the extent to which a
  firm fulfills a customers needs, desires, and
  expectations.
• Customer Satisfaction Alone is NOT the goal of
  marketing
• Firms Have a Goal of Generating Profits, Not
  Making People Happy

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Marketing Defined
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Implications of the Definition of Micro-Marketing

• Applies to profit and nonprofit organizations.
• NOT just persuading customers to buy.
• Begins with customer needs and focuses on
  customer satisfaction.
• Marketing activities --but it is a philosophy
  that guides the whole business.
• Seeks to builds a relationship with the customer.

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Economic Systems
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Micro-Macro Dilemma

• Micro-macro dilemma what is "good" for some
  firms and consumers may not be good for society
  as a whole.
• Examples
• some consumers want handguns, but guns can be
  dangerous
• all terrain vehicles are fun for some people, but
  may result in injuries or damage to wilderness
  areas
• non-returnable soft drink bottles are convenient,
  but sometimes result in litter and dangerous
  broken glass along highways.
• repairing an old air-conditioning system might
  save the owner money, but might require continued
  use of ozone depleting fluorocarbons (used as
  coolant)

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The Marketing Concept
Exhibit 2-1
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Marketing Orientation

• Trying to carry out the marketing concept
• Maintaining a customer orientation
• All departments work together guided by customer
  needs
• Focus on profit objective (or other overall
  objective)
• NOT just trying to "unload" what the firm has
  produced

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Marketing Orientation Sounds Easy,Isnt

• Even the best firms sometimes backslide into a
  production orientation
• In todays highly competitive markets it is often
  difficult to
• keep up with changing customer needs
• beat aggressive competitors to the punch
• find the right focus -- one that matches the
  firms objectives and resources to market
  opportunities
• offer customers superior value

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Social Responsibility

• Social Responsibility a firms obligation to
  improve its positive effects on society and
  reduce its negative effects (pg 23).
• Abernethy Social responsibility is not the
  responsibility of a firm. A business should
  follow the law and make a profit.
• Part of the class is learning the laws applying
  to marketing.

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Customer Value

• Customer Value Difference between the benefits
  a customer sees from a market offering and the
  costs of obtaining those benefits (pg 19).
• Only when the customer sees benefits gt
• costs will they be satisfied (and buy long
  term).
• - It is the customers point of view that is
  important not objective reality.