Overview of Session

1
Overview of Session

• Marketing - what and why
• What is Marketing?
• Why study Marketing?
• Marketing Philosophies
• Trends in Marketing
• The Marketing Environment
• Micro-environment
• Macro-environment
• Managing the Environment

2
What is Marketing?
3
What is Marketing?

• Marketing is the social and managerial process by
  which individuals and groups obtain what they
  need and want through creating and exchanging
  products and value with others. (Kotler and
  Armstrong)

4
What is Marketing?

• Marketing is the process of planning and
  executing the conception, pricing, promotion, and
  distribution of ideas, goods, and services to
  create exchanges that satisfy individual and
  organizational objectives. (American Marketing
  Association)

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Key Concepts

• Needs and Wants
• The product
• Customer satisfaction
• Exchange
• Marketplace

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Why Study Marketing?

• Marketing is omni-present
• Gain insight into culture
• Be smart consumer
• Market oneself effectively
• Marketing accounts for more than 50 cents of
  consumer dollar
• A well marketed product may outperform a
  technologically better, poorly marketed one
• Good career opportunities
• Fun

7
Marketing is Omnipresent

• The real thing
• The friendly skies
• 99 9/10 pure
• Ring around the collar
• Ultimate driving machine
• Quality is job 1
• King of pop

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How Would You Market Yourself?

• Production Concept
• Product Concept
• Selling Concept
• Marketing Concept
• Societal Marketing Concept

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Two Marketing Vision Problems

• Marketing Myopia
• Fuzzy Vision

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Marketing Vision Problems

• Telephone
• Airline
• Petroleum
• Internet

• Communications
• Transportation
• Energy
• ???

11
Environmental Forces

• Micro-environmental forces
• Macro-environmental forces
• demographic
• economic
• natural
• political
• technological
• cultural

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Managing the Environment

• Environmental scanning
• Eternal vigilance is the price of liberty.
• Proactive strategies
• Reactive strategies

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Pick the odd one out

• Escalator
• Kerosene
• Yo-yo
• Linoleum
• Cornflakes
• Nylon
• Trampoline
• Xerox

14
Trends in Marketing

• Globalization of Markets
• Diversification of Market Segments and the
  Customizing of Products
• Choice in Media and Advertising Exposure

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What We Discussed Today

• Marketing - what and why
• What is Marketing?
• Why study Marketing?
• Marketing Philosophies
• Trends in Marketing
• The Marketing Environment
• Microenvironment
• Macroenvironment
• Managing the Environment