Intro to Marketing Assignment
Creating Customer Relationships and Value through Marketing
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LEARNING OBJECTIVES (LO) AFTER READING CHAPTER 1, YOU SHOULD BE ABLE TO:
Define marketing and identify the diverse factors influencing marketing actions.
Explain how marketing discovers and satisfies consumer needs.
Distinguish between marketing mix factors and environmental forces.
Explain how organizations build strong customer relationships and customer value through marketing.
Describe how today’s customer relationship era differs from prior eras.
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CREATING CUSTOMER VALUE: THE CHOBANI WAY!
Creating an Exceptional Product
Connecting with Customers
Social Media
CHOmobile
Distribution in Major Grocery Chains
Today: Yogurt Drinks, Cafes, Food Incubators
Chobani Bear Ad
©Diane Bondareff/Invision for Chobani/AP Images
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WHAT IS MARKETING? (1 of 2)
What Is Marketing?
Chobani Website
©Patrick T. Fallon/Bloomberg via Getty Images
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WHAT IS MARKETING? DELIVERING VALUE TO CUSTOMERS
Seeks to:
Discover Needs and Wants of Customers
Satisfy Them
AMA Definition of Marketing
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WHAT IS MARKETING? DIVERSE ELEMENTS INFLUENCE MARKETING ACTIONS
The Organization Itself and Its Departments
Society
Environmental Forces
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A marketing department relates to many people, organizations, and environmental forces.
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WHAT IS MARKETING? REQUIREMENTS FOR MARKETING TO OCCUR
Two+ 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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HOW MARKETING DISCOVERS CONSUMER NEEDS THE CHALLENGE: NEW PRODUCTS AND SERVICES
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 Past Mistakes”
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HOW MARKETING DISCOVERS CONSUMER NEEDS NEEDS vs. WANTS
Needs
Wants
Does Marketing Persuade People to Buy the “Wrong” Things?
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Marketing seeks to discover consumer needs through research and then satisfy them with a marketing program.
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HOW MARKETING SATISFIES CONSUMER NEEDS THE FOUR Ps
The 4 Ps:
Controllable Marketing Mix Factors
Product
Promotion
Price
Place
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HOW MARKETING DISCOVERS CONSUMER NEEDS ENVIRONMENTAL FORCES
Uncontrollable Environmental Forces
Social
Competitive
Economic
Regulatory
Technological
©Luke MacGregor/Bloomberg via Getty Images
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THE MARKETING PROGRAM HOW CUSTOMER RELATIONSHIPS ARE BUILT
Customer Value Strategies
Best Price: Target
Best Service: Nordstrom
Best Product: Starbucks
Target Ad
Nordstrom Ad
Starbucks Ad
©Studio Works/Alamy Stock Photo
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THE MARKETING PROGRAM RELATIONSHIP MARKETING
Easy to Understand
Hard to Do
©Paul Hilton/Bloomberg via Getty Images
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3M’S STRATEGY AND MARKETING PROGRAM DISCOVERING AND SATISFYING STUDENT STUDY NEEDS (1 of 2)
Move from Ideas to a Marketable Highlighter Product
Add the Post-it® Flag Pen
Develop a Marketing Program for the Post-it® Flag Highlighter and Pen
3M Post-it Flag Highlighter
©McGraw-Hill Education/Mike Hruby, photographer
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FIGURE 1-4 Marketing programs for two new 3M Post-it® brand products targeted at college students and office workers.
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3M’S STRATEGY AND MARKETING PROGRAM DISCOVERING AND SATISFYING STUDENT STUDY NEEDS (2 of 2)
Developed Third-Generation Post-it® Flag Highlighter
Appeared on The Oprah Winfrey Show
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FIGURE 1-5 Four different orientations in the history of American business
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HOW MARKETING BECAME IMPORTANT EVOLUTION OF THE MARKET ORIENTATION
Customer Relationship Management (CRM)
What Firms Think They Offer Customers
What Customers Say They Receive
©Lannis Waters/ZUMA Press/Newscom
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HOW MARKETING BECAME IMPORTANT ETHICS AND SOCIAL RESPONSIBILITY
Ethics–Companies develop codes of ethics
Social Responsibility– Organizations are accountable to a larger society
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HOW MARKETING BECAME IMPORTANT BREADTH AND DEPTH OF MARKETING (1 of 2)
Who Markets?
What Is Marketed?
Products (Goods)
Services
Ideas
Hermitage Tour
Top: ©AFP/Getty Images; Bottom: ©Izzet Keribar/Lonely Plant Images/Getty Images
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HOW MARKETING BECAME IMPORTANT BREADTH AND DEPTH OF MARKETING (2 of 2)
Who Buys and Uses What Is Marketed?
Who Benefits?
How Consumers Benefit: Utility
Form Utility
Place Utility
Time Utility
Possession Utility
©Source: Peace Corps
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VIDEO CASE 1 CHOBANI: MAKING GREEK YOGURT A HOUSEHOLD NAME
Chobani Video Case
Top: ©McGraw-Hill Education/Mike Hruby, photographer; Left: ©Diane Bondareff/Invision for Chobani/AP Images; Right: ©John Minchillo/AP Image
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ICA 1-1 Designing a Better Candy Bar
Designing a Better Candy Bar
Example: Ghirardelli Chocolate
Ghirardelli Ad
Ghirardelli
Website
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Candy Bar Handout
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WHAT WE LEARNED FROM CHAPTER 1:
Define marketing and identify the diverse factors influencing marketing actions.
Explain how marketing discovers and satisfies consumer needs.
Distinguish between marketing mix factors and environmental forces.
Explain how organizations build strong customer relationships and customer value through marketing.
Describe how today’s customer relationship era differs from prior eras.
Sample cases from Chobani and Ghirardelli
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