CPS MARKETING WORKSHOP February 9, 2011 Robert Hailey Tulane University

CPS MARKETING WORKSHOP What is marketing?...Old Definition Marketing is an ongoing process of planning and executing the marketing mix (Product, Price, Place, Promotion often referred to as the 4 Ps) for products, services or ideas to create exchange between individuals and organizations.

CPS MARKETING WORKSHOP What is marketing?...New Definition Marketing is the activity, set of institutions, and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners and society at large.”

CPS MARKETING WORKSHOP Creating---the process of collaborating with suppliers and customers to create offerings that have value Communicating—Broadly, describing those offerings as well as learning from customers Delivering—Getting those offerings to the customer in a way that optimizes value Exchanging—Trading value for those offerings

CPS MARKETING WORKSHOP

Why is Marketing So Important? Investment not Cost Requires ◦ Understanding of Product/Service ◦ Understanding of the Community/Market ◦ Understanding of Value Assigned ◦ Plan to Communicate/Sale/Market the Good or Service ◦ Metrics to Determine Success of Campaign ◦ SPEED OF CHANGE

CPS MARKETING WORKSHOP Length of Time Needed to Reach an Audience of 50 million Radio---38 Years Television---13 Years Internet---4 Years iPod---3 Years YouTube—2 Years

CPS MARKETING WORKSHOP What is a Customer? A customer refers to individuals or households that purchase goods and services generated within the economy. The word historically derives from "custom," meaning "habit"; a customer was someone who frequented a particular shop, who made it a habit to purchase goods there, and with whom the shopkeeper had to maintain a relationship to keep his or her "custom," meaning expected purchases in the future. economy

Top Down Management

CPS MARKETING WORKSHOP ~ The human moment has two prerequisites: people’s physical presence and their emotional and intellectual attention. ~ -- Edward M. Hallowell Harvard Business Review January-February 1999

CPS MARKETING WORKSHOP Questions Marketing Exercise