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MKTG 504 - MARKETING

MKTG 504 - MARKETING. Introduction Dr. Dennis Pitta University of Baltimore. What is Marketing?. Social Activity - carried on by human beings. Aimed at satisfying NEEDS + WANTS. Exchange!!. MARKETING. Process in Society-

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MKTG 504 - MARKETING

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  1. MKTG 504 - MARKETING Introduction Dr. Dennis Pitta University of Baltimore

  2. What is Marketing? • Social Activity - carried on by human beings. • Aimed at satisfying NEEDS + WANTS. • Exchange!!

  3. MARKETING Process in Society- People and organizations with diverse wants and needs ATTEMPT to satisfy them by forming mutually satisfying exchange relationships.

  4. Of what value are dogs?

  5. Dogs are... • ________________ • ________________ • ________________ • ________________ • ________________ • ________________

  6. Why would Pitta want a dog?

  7. Wants are…. • Diverse • Can be really unique • Not always identified easily • Great - great motivators

  8. The result….. • Two just to be sure!!

  9. Ways of Satisfying NEEDS and WANTS • Coercion • Transfer • Origination • Exchange

  10. Net Satisfaction by Method

  11. Marketing Exchange …COMPLEX Let’s take a car example 1989 Honda Accord ($1,000) _________________

  12. Marketing Exchange …COMPLEX Let’s take another car example 2007 Rolls Royce Silver Wraith ($250,000) _________________

  13. Marketing Exchange… COMPLEX Let’s take another car example 2007 Volvo 4 W drive station wagon ($49,000) _________________

  14. Marketing Exchange COMPLEX Let’s take yet another car example 1970 VW Beetle with ‘Continental hood and rear’ ($4,000) _________________

  15. Marketing Exchange COMPLEX UTILITARIAN SYMBOLIC PSYCHOLOGICAL SOCIAL

  16. Marketing and Utility UTILITY = The satisfaction value, or usefulness a user receives from a good or service in relation to his or her wants. (( Utility = SATISFACTION))

  17. MARKETING CREATES: • PLACE UTILITY • TIME UTILITY • POSSESSION UTILITY

  18. Ancient History Marketing - as an academic discipline - dates back to ~ 1921.

  19. Universal Marketing Function • Buying • Selling • Transporting • Storing • Standardizing and Grading • Finance • Risk Taking • Market Investigation

  20. Gaps in Marketing • Gaps exist between those with wants • and those who can satisfy those wants

  21. Gaps in Marketing • Perceptual • Temporal • Spatial • Valuational • Ownership

  22. Gaps in Marketing

  23. Bridging Gaps in Marketing • Perceptual (Communication) • Temporal ( Storage) • Spatial (Transportation) • Valuational (Communication) • Ownership (Exchange)

  24. Bridging Gaps in Marketing

  25. The Evolution of Marketing • Production Orientation • Sales orientation • Marketing Orientation • Social Orientation

  26. Production Orientation • Production emphasized • Company focus • Consumer often ignored

  27. Sales Orientation • Company Focus • Sales (volume) Emphasized • Stress on Selling Tactics

  28. Marketing Orientation • Focus: the Consumer • Profit Orientation • Integration of the Firm

  29. Societal Orientation • Focus: the Consumer • Profit Orientation • Integration of the Firm • Recognition that society is an Exchange Partner

  30. Upcoming Topics • Marketing’s Environment

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