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Principles of Marketing BA 390

Principles of Marketing BA 390. Fall 2006 Dr. McAlexander. What is Marketing?. Do you know your pharmacist? What about the person who made your shoes?. What do we do?. We facilitate exchange Effectiveness Efficiency Who are our customers?. Key Terms.

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Principles of Marketing BA 390

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  1. Principles of MarketingBA 390 Fall 2006 Dr. McAlexander

  2. What is Marketing? • Do you know your pharmacist? • What about the person who made your shoes?

  3. What do we do? • We facilitate exchange • Effectiveness • Efficiency • Who are our customers?

  4. Key Terms • Needs: Functional, Symbolic, and Experiential • Wants: Culturally shaped needs • Demands: Add buying power • Product: Complex bundle of satisfactions.

  5. Marketing Management Strategic Planning and the Marketing Process

  6. Evolution • Production Orientation • Product Orientation • Selling Orientation • Marketing Orientation: The Marketing Concept • Societal Marketing Concept • Balance interests of consumer, society, and firm

  7. Managerial Imperative • Marketing Generates Revenue • Mandate: Attract, Retain, and Grow Customers • Customer value: differences between customer costs and benefits • Customer satisfaction, loyalty, and retention • Customer Equity: Combined Customer Lifetime Values

  8. Design Business Portfolio Set Objectives And Goals Define the Mission Strategic Planning Process

  9. Defining the Mission • Statement of purpose • Market Oriented • Product orientation could be short-sighted • Based on Distinctive Competencies • Motivating

  10. Harley-Davidson We fulfill dreams through the experience of motorcycling,by providing to motorcyclists and to the general publican expanding line of motorcycles and branded products and servicesin selected market segments.

  11. Setting Objectives and Goals • Obviously relate to mission statement • Time specific and measurable

  12. Business Portfolio: BCG and Friends High Growth Low Growth High Share Low Share

  13. Porter’s Generic Strategies • Low Cost • Differentiation • Focus

  14. Growth Strategies • Existing Products and Markets: • Market Penetration • Existing Products and New Markets • Market Development • New Products and Existing Markets • Product Development • New Products and New Markets • Diversification

  15. Marketing Process: Segmentation, Targeting, and Positioning • Market Segmentation • Demographic • Benefit • Psychographic

  16. Market Targeting • Choose to serve one or more segments • Fit with abilities and resources of the firm. • Competitive intensity

  17. Market Positioning • The place the product occupies in the mind of the consumer relative to the competition. • http://www.buell.com/

  18. PRICE PLACE PRODUCT PROMOTION Marketing Mix

  19. Marketing Environments • Micro Environments • The company

  20. Marketing Environments • Micro Environments • The company • Suppliers • Marketing Intermediaries • Customers • Competitors • Publics

  21. Marketing Environments • Macro Environments • Demographic • Age • Ethnicity • Geographic shifts • Income distribution

  22. Marketing Environments • Macro Environments • Demographic • Economic • Natural

  23. Natural Environment • Natural Resources and Marketing Perspectives • Market Segments • Impacts upon the environment

  24. Marketing Environments • Macro Environments • Demographic • Economic • Natural • Technological

  25. Technological Environment • WSJ • Having babies: prenatal screening… • Stay in touch with families: myfamily.com • Find love: 73% of singles use the internet • Watch TV and listen to the radio • Fandom • Shop

  26. Marketing Environments • Macro Environments • Demographic • Economic • Natural • Technological • Political

  27. Political Environment • Impact of legislation: all levels of government • Pricing: price discrimination (Robinson-Patman Act) • Product: unsafe toys and articles (Child Protection Act also Consumer Product Safety Act) and warranties (Manuson-Moss Warranty Act)

  28. Marketing Environments • Macro Environments • Demographic • Economic • Natural • Technological • Political • Cultural

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