Marketing is a communication Management

1. Marketing is a communication Management Marketing Management

2. What is the definition of Marketing? Marketing Management

3. Marketing Management • Definition of Marketing • The complex, interrelated series of activities involved in creating products and services, promoting their existence and attributes, and making them physically available to identified target buyers. (American Management Association) Marketing Management

4. Marketing Management • This is the standard model of communication • Marketing texts use the model to introduce promotion Sender Encode Message Decode Receiver Feedback Marketing Management

5. Marketing Management • I prefer this model to explain the marketing process • It is applicable to any form of interaction • Explains the marketing curriculum and strategies Sender Encode Message Decode Receiver Feedback Marketing Management

6. Marketing Management • Marketing (Jensen’s definition): • A communication process that exists between producer and consumer for the purpose of optimizing satisfaction of both parties. Sender Encode Message Decode Receiver Feedback Marketing Management

7. Marketing Management • The sender originates the action • The sender could also be known as the Producer of an offering Sender Marketing Management

8. Marketing Management • The receiver is the target of the action • The target could also be known as the Consumer of an offering Receiver Marketing Management

9. Marketing Management • The message is the offering • The message could also be known as the product Message Marketing Management

10. Marketing Management • The way the Receiver decodes is of vital importance to the Sender • Need to know who the target is; in as many ways possible • Therefore, we study Consumer Behavior and Marketing Research Decode Marketing Management

11. Marketing Management • Knowing the way the Receiver decodes guides the Sender in developing the offering • All aspects of the offering serve as communication tools • Therefore, we have the Marketing Strategies: Product, Price, Place and Promotion Encode Marketing Management

12. Marketing Management • Product as a Communicator • Label is full of information about the product • Packaging-balancing Protection against Comparison • Packaging-enhancing product image • Popin’s • Branding-creating identification and allegiance • NABISCO’s “triangle” • Product • Coffee Study and Convenience Goods Marketing Management

13. Marketing Management • Price as a Communicator • Discounts and Deals • Price as a measure of quality • The economist’s nightmare – a positively sloped demand curve Marketing Management

14. Marketing Management • Place as a Communicator • Place of purchase as indicator of quality • Bonney & Gordon • Control of the Channel of Distribution • Private Branding versus National Brands • Retailing and Display • Product placement Marketing Management

15. Marketing Management • Promotion as a Communicator (the obvious one) • Advertising - communicating with the masses • Personal Sales - communicating one-to-one Marketing Management

16. Marketing Management • This model allows a user to view any transaction from a marketing perspective and analyze the successes and failures Sender Encode Message Decode Receiver Feedback Marketing Management

17. Marketing Management • For Example • I firmly maintain that Marketing Students SHOULD expect the job of their dreams upon graduation • Their academic career was spent learning how to market a product – in this case, getting the job • If they have learned anything it should have been how to market themselves • And applying the model is a positive approach Marketing Management

18. Marketing Management • Who is the Receiver (Target) • How do they Decode • What is the Product • What Packaging is appropriate • Is Branding a factor • What are the Price factors • What are the Place factors • What Advertising is involved • What Personal Selling is involved Marketing Management

19. Marketing Management • Marketing:A communication process that exists between producer and consumer for the purpose of optimizing satisfaction of both parties. Marketing Management