MarketingBeforewebegin,IwantyoutoknowwhyIamonlygoingtotalkaboutsimplethingsandnottrytocoverallthedifficultterms,concepts,andmaterialineachchapter.MarketingYourlevelofEnglishisnotgoodenoughtobeabletoprogressatthespeedweneedtobeabletolearneverything.ThisistheonlyMarketingcourseyouwilltakeduringyourfouryearsofcollegeYoudonotneedtobeanexpertinMarketing.Onlyunderstandwhatitisandhowitisused.Youmustpassthiscoursetograduateinfouryears.Myexamswillonlycoverthematerialwetalkaboutinclass.Theywillbesimple.However,youmustreadthechapters.Youmustparticipateinclass.MarketingYoumustcometoclasswithquestionsaboutwhatyouread.YoumustbeabletoanswerquestionsYoumustaskforhelpifyouneeditThiscourseismoreaboutimprovingandexpandingyourEnglishabilitiesthanitisaboutMarketing.MarketingBeforewestart,doyouhaveanyquestions?Shallwebegin?MarketingWhatisa“MissionStatement”?MarketingAMissionStatementis:Astatementthattellswhatthecompany’spurposeis.MarketingMissionStatementExample:“Ourmissionistofindjobsforthosepeoplethatwantthem.”ThismightthebetheMissionStatementforatemporaryemploymentagencyMarketingWhatisStrategicPlanning?MarketingStrategicPlanningis:Theprocessofdevelopingandmaintainingastrategicfitbetweentheorganization’sgoalsandcapabilitiesanditschangingmarketingopportunities.HowitplanstorunitsbusinessMarketingStrategicPlanExample:Thecompanywilltakeadvantageofalltechnologiestoproducemobileandwirelessphonesthathavethefeaturesthatthecustomerswant.Thecompanydoesn’tcarewhoinventedthetechnology,theywilluseittoitsfulladvantagetoservetheircustomersMarketingWhatisaBusinessPortfolio?MarketingBusinessPortfoliois:Thecollectionofcompanies,businesses,andproductsthatareownedbyanorganizationMarketingBusinessPortfolioExample:SonyCorp.SonyElectronicsSonyComputerEntertainmentSonyFilmandTelevisionStudiosSonyMusicSonyFinancialServicesMarketingWhatisaStrategicBusinessUnit?MarketingStrategicBusinessUnit(SBU)is:AunitofthecompanythathasaseparatemissionandgoalsthatcanbeplannedindependentlyfromtheotherbusinessMarketingRememberthisslideafewminutesago?BusinessPortfolioExample:SonyCorp.SonyElectronicsSonyComputerEntertainmentSonyFilmandTelevisionStudiosSonyMusicSonyFinancialServicesSonyFinancialhasnothingtodowiththeothercompanies.Itsgoals,customers,andcapabilitiesaremuchdifferentfromtheentertainmentandelectronicscompanies.SonyFinancialservicesisanSBUMarketingWhatisMarketPenetration?MarketingMarketPenetrationis:Astrategyforcompanygrowthbyincreasingsalesofcurrentproductstocurrentmarketssegmentswithoutchangingtheproduct.MarketingMarketPenetrationExample:SonywantstosellmoreMP3playerstoChinesecollegestudents.Theylowerthepriceand/ormakespecialoffersthatonlycollegestudentscanuse.MarketingWhatisMarketDevelopment?MarketingMarketDevelopmentis:AstrategyforcompanygrowthbyidentifyinganddevelopingnewmarketsegmentsforcurrentcompanyproductsMarketingMarketDevelopmentExample:SonycreatesadvertisingtolettheircustomersknowthattheirMP3playersandalsobeusetorecordlecturesinclassroomsandallowthestudentstolistentothelectureoverandover.MarketingWhatisProductDevelopment?MarketingProductDevelopmentis:AstrategyforcompanygrowthbyofferingmodifiedornewproductstocurrentmarketsegmentsMarketingProductDevelopmentExample:SonycreatesBluetoothheadsetsforitsMP3playersSonyoffersbothwiredandwirelessheadsetsforallitsMP3playersMarketingWhatisPartnerRelationshipManagement?MarketingPartnerRelationshipManagementis:WorkingcloselywithpartnersinothercompanydepartmentsaswellasoutsidecompaniestojointlybringgreatervaluetocustomersMarketingPartnerRelationshipManagementExample:McDonaldsandTaobaoworktogethertocreatediscountpointsforpurchasesonTaobaobasedonthecustomerspurchasesatMcDonalds.ThemoremoneyyouspendatMcDonalds,themoremoneyyousaveonTaobao.MarketingWhatisaMarketSegment?MarketingAMarketSegmentis:AgroupofconsumerswhorespondinasimilarwaytogivensetofmarketingeffortsMarketingMarketSegmentExample:SeniorCitizensMarriedWomenMenMarriedMenWomenGrandmothersChildrenLawyersCollegeStudentsUpperClassHousewivesMiddleClassSingleWomenLowerClassSingleMenNiecesTeachersGrandchildrenMarketingWhatisTargetMarketing?MarketingTargetMarketingis:Theprocessofevaluatingeachmarketsegment’sattractivenessandselectingoneormoresegmentstoenter.MarketingTargetMarketingExample:Sonyresearchesallthedifferentthingsthatpeoplebuyandtheylearnthatmorepeoplespendmoneyonentertainmentthananythingelse.SonydecidestostartmakingMP3players,DVDplayers,movies,computergames,etc.MarketingWhatarethefour“P’s”ofMarketing?MarketingThefour“P’s”ofMarketingare:Product–Youmusthaveaproductthatpeoplewantorneed.Variety,Quality,Design,Features,BrandName,Packaging,ServicesPrice–Youmustsellitacompetitivepriceinrelationtoothersimilarproducts.ListPrice,Discounts,Allowances,PaymentTerms,CreditTermsMarketingThefour“P’s”ofMarketingare:(Con’t)Place–Youmustmakeyourproductseasytobuy,easytofind,easytoorder,easytosell.Channels,Coverage,Assortments,Locations,Inventory,Transportation,LogisticsPromotion–Youmustletyourcustomersknowwheretobuy,howtobuy.Advertising,PersonalSelling,SalesPromotions,PublicRelations
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