Current Marketing Issues Seminar

1. Current Marketing Issues Seminar BA635Dr. Ed Forrest (Office) 786-4161 / (Cell) 854-8784 Email: afejf1@uaa.alaska.edu W3site: http://faculty.cbpp.uaa.alaska.edu/afef/

3. First, buyers are no longer paying much attention. Several studieshave confirmed that in the "buyer's decision journey," traditional marketing communications just aren't relevant. Second, CEOs have lost all patience. In a devastating 2011 study of 600 CEOs….77% have had it with all the talk about brand equity that can't be linked to actual firm equity or any other recognized financial metric.

4. Tonight: • Address defining elements of course: • What isMarketing • What are the “Current Issues” • Organize / Select Research Topics/Teams ….

5. Everything is Online

6. What is Marketing?

7. I think might be better "Ogar’s Fire" … Innate sense for marketing I’m calling it HOT • For 1,000’s of years… bartered & traded “branded” goods & services “The Dawn of Marketing”

8. Everybody’s a Marketer: • Everybodypromotesthemselves…. • Packages themselves ….. • Everybody has their price……

9. The Marketing Process:

10. G N C Service TGT D E WM The Marketing Mix: F P’s Positioning Strategy Strategic Planning Situation Analysis Marketing Strategy • Company • Consumers • Competitors • Conditions • PEST Growth & CompetitiveStrategies 5thp =p2p

11. Classic Functional Definition All activities performed in between: The Point of Production & The Point of Consumption

12. 1st Formal Definition ~1919 *Marketing and Merchandising by Ralph Butler & John Swinney, • Book distinguishes marketing from merchandising, • w/ marketing being something manufacturers do • & merchandising being the domain of jobbers; retailers. • Marketing defined as‘the manner in which the product is disposed of, the way in which it is distributed…, through various channels of trade.” 

13. Marketing Defined -1935 - “The performance of business activities that direct the flow of goods & services from producers to consumers.”

14. Marketing Defined-as a Process- 1985 "The process of planning & executing theconception, pricing, promotion & distributionofideas, goods & services tocreate exchange & satisfy individual & organizational objectives"

15. The Latest Official AMA Definition (circa 2004)

16. ..an organizational function & a set of processes • forcreating, communicating & delivering value to customers • & formanaging customer relationships in ways that benefit the organization & its stakeholders

17. Why the changed focus? What happened between 1985 & 2004 that made the AMA change the definition of marketing?

18. The AMA Rationale: “Technology & marketing been changing quite rapidly over last five to 10 years… Marketing should be customer-centric -- not brand-centric" • The 1985 definition was not encompassing enough. The new definition more clearly infuses the customer into marketing."

19. Management Reorientation Focus on Consumer • Not product • Long –Term Relationships • Not Short-term Sales

20. Marketing > Function =An Orientation “Marketing is… the whole business seen …. from the customers’ point of view.”

21. “The aim of marketing is to know & understand the customer so well the product or service …sells itself.” ~ Peter F. Drucker

22. “Marketing is too important to be left to the marketing department.” • The marketing department did the marketing… • Now everyone does some marketing • Company was the unit of analysis......... • Now whole value chain is unit of analysis

23. Must Change Your focus & objectives: From: To: Average Consumer Individual Customer Customer Anonymity Customer Relationship Standard Mktg. Mix Customized Market Offering Mass Production Customized Production Mass Distribution Individualized Distribution Mass Advertising Individualized Message Mass Promotion Individualized Incentives One-Way Comm. Interactive Communication Economies of Scale Economies of Scope Share of Market Share of Customer All Customers Profitable Customers Customer Attraction Customer Retention

24. Marketing Next Step- ID the issues…

26. Ten Issues Marketers Should Have on Their 2012 Agenda | Special ... adage.com/article/special-report...issues-marketers-2012.../231502/Cached – Here are 10 issues for marketers in 2012

30. Ramkhamhaeng University  Institute for International Studies GB 635 Current Issues in MarketingCourse Outline

31. London Metropolitan University MK3P04 Current Issues in Marketing Syllabus • Developing criteria to evaluate marketing plans against selected issues.Creating appropriate research methods to investigate issues.Ethics and the practise of marketing • Sample issues:Green MarketingConsumerismUse of I.T. in marketingBrand ValuationStereotyping in advertising

32. Marketing Issues- as delineated by 1999 UAA Syllabus… • Marketing performance • The Creation of Customer Satisfaction & Value • Buyer Behavior • Relationship Marketing • Inter-firm Relationships in Marketing • Services Marketing & Service Quality • Competition & Strategy • Marketing and Information Technology • Marketing Globally • Ethics and Legal Issues in Marketing

33. As it is -On Any Syllabus, any Year or Day- One can find Issues of: • Product Quality • Service Quality • Consumer Confidence/Satisfaction • Value/Pricing Practices • Free/Fair trade • Globalization • Advertising (volume, veracity, political-correctness)

34. What’s most relevant- Depends on Your Perspective: • Marketer- • Issues = factors that affect sales • Consumer- • Issue = factors that affect one’s sensibilities

35. Fact is--these & most issues… Are RE-CURRENT issues- that Ebb & Flow w/ socio-economic events

36. We could- examine all these issues 1 by 1… Quite taxing & Just too Superficial

37. “Yes… you seem to be suffering from a marketing issue” Examining only symptoms --not diagnosing the cause

38. Ergo- the Real Question is….

39. Ergo- the Real Question is…. Where do marketing issues come from?

40. Willing to sell Willing to buy Marketing’s “utility”/value derived from its Facilitation of Exchange! Temporal Utility Spatial Utility  Transactional Utility Marketing

41. Key Point: Keep Marketing in Perspective Seller Anything/Everything one does to facilitate exchange Buyer Whatever impacts Why- What- Where- When- How Exchange occurs… is (or becomes) an Issue…

42. Society Marketing Issuesin Perspective Marketing - part ofBusiness &Business - part ofSociety “Societal Change” creates “issues” for Business… which creates “issues” for Marketing Marketing Business

43. Thus- in order to identify- anticipate- understand Marketing Issues in particular One needs to identify-anticipate-understand • Societal Change • in general

44. Society Defined: A group of humans broadly distinguished by: • mutual interests, • participation in characteristicrelationships, • shared institutions, & • a commonculture

45. THUS- …become marketing issues In the final analysis marketing strategy is formulated to address… Patterns of/changes to: human interests, relationships, institutions & culture… Hence- our search for marketing issues begins w/ examination of…

46. & what better time to study Societal Change …We are living thru one of the great periods of societal change in the history of humankind…

47. We’re in midst - next great Paradigm Shift… … in the way we live, communicate, work, produce & consume…

48. An entirely new & increasingly complex ecosystem has emerged, which impacts the way people connect, engage, influence, --& are influenced.

49. Social Media Revolution

50. Major Marketing Issues: 2012 #1: How do I measure the effect of social media marketing on my business? #2: How do I integrate and manage all of my social media marketing activities? #3: What are the best ways to sell with social media? #4: How do I improve customer engagement with social media?