McGraw-Hill/Irwin

Copyright 2009 by The McGraw-Hill Companies, Inc. All Rights Reserved.

HOW DO COLLEGE STUDENTS STUDY?

A NEW PRODUCT CHALLENGE FOR 3M!

1-2

HOW DO COLLEGE STUDENTS STUDY?

DISCOVERING STUDENT STUDYING NEEDS

+
3M Post-it Notes or
Post-it Flags

=
Felt Tip Highlighters

3M product that
will combine
Post-it Notes or
Post-it Flags and
Highlighters

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HOW DO COLLEGE STUDENTS STUDY?

SATISFYING STUDENT STUDYING NEEDS

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Marketing

Marketing is the activity for

creating, communicating,
delivering, and exchanging
offerings that benefit the
organization, its stakeholders,
and society at large.

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LO1

WHAT IS MARKETING ?
You Are a Marketing Expert Already
Involved in 1,000s of
Buying Decisions
Some Involved in Selling Decisions

Marketing
Is NOT Easy
Affects ALL Individuals, Organizations,
Industries, and Countries

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LO1

WHAT IS MARKETING?
DELIVERING BENEFITS

Marketing Seeks to:

Discover Needs and Wants of Customers
Satisfy Them

Exchange

AMA Definition of Marketing

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LO1

WHAT IS MARKETING?
DIVERSE FACTORS INFLUENCE MARKETING ACTIVITIES

Organization Itself

Society

Environmental Forces

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FIGURE 1-2 A marketing department relates

to many people, organizations, and
environmental forces

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LO1

WHAT IS MARKETING?
REQUIREMENTS FOR IT TO OCCUR

Parties with Unsatisfied Needs

A Desire and Ability to be Satisfied

A Way for the Parties to Communicate

Something to Exchange
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LO2

HOW MARKETING
DISCOVERS CONSUMER NEEDS
THE CHALLENGE: NEW PRODUCTS

Consumers May Not Know or Cannot

Describe What They Need or Want

Most New Products Fail

The Challenge:
Focus on the Consumer Benefit
Learn From the Past
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LO2

HOW MARKETING
DISCOVERS CONSUMER NEEDS
NEEDS VS. WANTS

Need

Want

Does Marketing Persuade People to

Buy the Wrong Things?

Market
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FIGURE 1-3 Marketing seeks to discover

then satisfy consumer needs through
research and a marketing program

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LO3

HOW MARKETING SATISFIES

CONSUMER NEEDS

Target Market

The 4 Ps: Controllable Marketing Mix

Factors
Product
Price

Promotion
$399

Place
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LO3

HOW MARKETING SATISFIES

CONSUMER NEEDS
Uncontrollable Environmental Forces
Social
Economic
Technological
Competitive
Regulatory

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LO4

MARKETING PROGRAM
CUSTOMER VALUE AND RELATIONSHIPS

Customer Value

Value Strategies
Best Price
Best Product
Best Service
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LO4

Costco and Starbucks

What customer value strategy?

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LO4

MARKETING PROGRAM
RELATIONSHIP MARKETING

Relationship Marketing
Easy to Understand
Hard to Do

Marketing Program

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LO5

HOW MARKETING BECAME IMPORTANT

EVOLUTION OF THE MARKET ORIENTATION

Production Era

Sales Era

Marketing Concept Era

Customer Relationship Era

Market Orientation
Customer Relationship Management (CRM)
Customer Experience
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FIGURE 1-5 Four different market

orientations in the history of American
business

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LO5

HOW MARKETING BECAME IMPORTANT

ETHICS AND SOCIAL RESPONSIBILITY

Ethics

Social Responsibility
Societal Marketing Concept
Macromarketing
Micromarketing
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LO6

HOW MARKETING BECAME IMPORTANT

BREADTH AND DEPTH OF MARKETING

Who Markets?

What Is Marketed?

Goods

Services

Ideas
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LO6

HOW MARKETING BECAME IMPORTANT

BREADTH AND DEPTH OF MARKETING

Who Benefits?

Who Buys & Uses What Is Marketed?

Ultimate Consumers
Organizational Buyers

How Do Consumers Benefit?

Utility
Form Utility

Time Utility

Place Utility

Possession Utility

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