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Principles of Marketing MKTG350 Winter2003

Principles of Marketing MKTG350 Winter2003. Carl Obermiller. Professor: Carl Obermiller (Pigott 502, 296-5746, carlo@seattleu.edu ) Office Hours: before or after class or by appointment Class: Section 1, T/TH 1:15, P 304, Section 2, T/Th, P 102.

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Principles of Marketing MKTG350 Winter2003

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  1. Principles of Marketing MKTG350Winter2003 Carl Obermiller

  2. Professor: Carl Obermiller (Pigott 502, 296-5746, carlo@seattleu.edu) Office Hours: before or after class or by appointment Class: Section 1, T/TH 1:15, P 304, Section 2, T/Th, P 102. Class website: http://classes.seattleu.edu/business/mktg350/obermiller/ Text: Principles of Marketing Activebook, Kotler and Armstrong, Prentice Hall.

  3. Quizzes 100 (2@50) Exams 400 (2@200) Projects 400 (4@100) Class Participation 100 Grading

  4. schedule 1-7: introduction 1-9: planning, chs. 1-3 1-14: strategy, chs. 7 and 18

  5. Introduction to Marketing • The two meanings of “marketing” • “The Marketing Concept” • Marketing management

  6. What is Marketing? Process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others. Simply put: Marketing is the delivery of customer satisfaction at a profit.

  7. Core Marketing Concepts (Fig. 1-1) Needs, wants, and demands Markets Products and services Exchange, transactions, and relationships Value, satisfaction, and quality

  8. Suppliers Modern Marketing System (Fig. 1-3) Competitors Company (Marketer) Marketing Intermediaries Environment End User Market Environment

  9. The Marketing Concept • What is the proper guiding philosophy for a business? • Focus on • Product • Production • Selling • Marketing • Society

  10. Marketing Management Philosophies • Consumers favor products that are • available and highly affordable. • Improve production and distribution. • Consumers favor products that offer • the most quality, performance, and • innovative features. • Consumers will buy products only if • the company promotes/ sells these • products. • Focuses on needs/ wants of target • markets & delivering satisfaction • better than competitors. • Focuses on needs/ wants of target • markets & delivering superior value. Production Concept Product Concept Selling Concept Marketing Concept Societal Marketing Concept

  11. consumers firms exchange Uncontrollable variables Controllable variables Marketing Management Optimize controllable variables for a given set of uncontrollable factors Exchange Theory

  12. Conclusion • “Marketing Concept” defined • Maximize long run profit by integrating all business activities to the core objective of satisfaction of consumer wants and needs • Why the marketing concept? • Does marketing create needs? • What are the goods and bads of marketing

  13. Tour the Activebook http://myphlip.pearsoncmg.com/faculty/index.cfm

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