Professor George Miaoulis, Jr.

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Marketing 550 - What Is Marketing?

• Professor George Miaoulis, Jr.

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MARKETING
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Goals Of This First Presentation

• To Expose You To The Thought Process Of Marketing
• To Provide A Frame Of Reference, A Context For
  The Presentations That Follow
• To Have Some Fun With Marketing !!

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What is Marketing ?
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Product
Company
Consumer
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Revenue
Consumer
Company
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Company
Consumer
Values ?
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Revenue

Consumer
Company
Product
Value
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VALUES

• Not Limited to
• Product/Services
• Money/Credit

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VALUES

• Include
• Psychological Factors
• Lifestyle Roles
• Risk Factors
• Time
• Purchase Behavior
• Etc.

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TYPICAL MARKETING EXCHANGE PROCESS
Product
Revenue
Consumer
Company
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EXAMPLES OF VALUES

• Consumer Products
• Industrial Products, and
• A Few Service and Health Care

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WHAT IS MARKETING?

• I really havent defined it yet!

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MARKETING ORIENTATION

• Matching Process

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MARKETING ORIENTATION

• Matching Process
• Two-Way Exchange of
• Goals/Objectives
• Mutually Acceptable Program

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FOUR CONDITIONS-MARKETING EXCHANGE
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EXCHANGE CONDITIONS

• Two or More Persons / Companies

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EXCHANGE CONDITIONS

• Two or More Persons / Companies
• Possession of Something of Value to the Other

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EXCHANGE CONDITIONS

• Two or More Persons / Companies
• Possession of Something of Value to the Other
• Ability to Communicate and Deliver the Value

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EXCHANGE CONDTIONS

• Two of More Persons / Companies
• Possession of Something of Value to the Other
• Ability to Communicate and Deliver the Value
• Freedom to Accept or Reject - The Value Offering

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EXCHANGE TAKES PLACE

• Mutual Benefit, by
• Satisfying Needs

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WHAT IS MARKETING ??

• The Professors Textbook Definition

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THE MARKETING CONCEPT

• A Philosophy of Business

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THE MARKETING CONCEPT

• A Philosophy of Business
• View Customer at Beginning

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THE MARKETING CONCEPT

• A Philosophy of Business
• View Customer at Beginning
• Satisfy Customer Wants and Needs

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THE MARKETING CONCEPT

• A Philosophy of Business
• View Customer at Beginning
• Satisfy Customer Wants and Needs
• Everyone in Organization Must be Customer
  Responsive

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THE MARKETING CONCEPT

• A Philosophy of Business
• View Customer at Beginning
• Satisfy Customer Wants and Needs
• Everyone in Organization Must Be Customer
  Responsive

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What Comes To Mind When I Say New York City Taxi
Cab ?
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An Example OfThe Wrong Way To Do Marketing

• A Real Life Example

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Make a Better Mousetrap and the World Will
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A Quality Product/Service...Will Sell Itself
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Insert Two Photos For Mousetrap Example
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PPRODUCT ORIENTATION

• Usually One Product

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PRODUCT ORIENTATION

• Usually One Product
• Goal is to Sell More

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PPRODUCT ORIENTATION

• Usually One Product
• Goal is to Sell More
• A Quality Product Will Sell Itself

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PRODUCT ORIENTATION

• Usually One Product
• Goal is to Sell More
• A Quality Product Will Sell Itself
• Internal Efficiency

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PRODUCT ORIENTATION

• Usually One Product
• Goal is to Sell More
• A Quality Product will Sell Itself
• Internal Efficiency
• Cost Cutting (Budget Reduction)

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PRODUCT ORIENTATION

• Usually One Product
• Goal is to Sell More
• A Quality Product will Sell Itself
• Internal Efficiency
• Cost Cutting (Budget Reduction)

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PRODUCT ORIENTATION
Having Something to Get Rid of
Vs.
ORIENTATION
MARKETING
Having Something that People Want
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Marketing Myopia

• Product Orientation Is A Major Symptom

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Marketing Myopia Asks ...

• What Business Are We In?
• It Is A Question That Helps Us View Our Business
  From The Customers / Market Perspective
• It Helps Avoid The Product Orientation Trap

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Discussion Of LevittsMarketing Myopia Article

• What Business Is Your Company In?

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Some Diagnostic Questions To Evaluate If Your
Company IsMarketing Myopic
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SOME TYPICALPRODUCT ORIENTEDQUESTIONS
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HOW DOWE PROMOTEPRODUCTS AND SERVICES?
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HOW DO WE CHANGECUSTOMER ATTITUDES?
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HOW DOWE APPROACH

• An Agricultural Company, or
• A Mining Company
• As Opposed to a Technology Company

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HOW DOWE SELLOUR PRODUCTS?
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HOW DOWE CREATEAN IMAGE?
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PRODUCT ORIENTED BECAUSE
Company
Products
Customers
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MARKETING ORIENTED WHEN
Company
Products
Customers
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BREAK