An Overview of Marketing CHAPTER 1 Marketing Lamb, Hair, McDaniel 9 Designed by Eric Brengle B-books, Ltd. Prepared by Deborah Baker Texas Christian University

Marketing Management Philosophies Describe four marketing management philosophies 2

Marketing Management Philosophies Sales Market Societal Production internal capabilities of the firm satisfying customer needs and wants while meeting objectives satisfying customer needs and wants while enhancing individual and societal well-being aggressive sales techniques and belief that high sales result in high profits Orientation Focus is on… 3

Market Orientation LO2 Marketing Concept Chapter 1 An Overview of Marketing Market Orientation LO2 Marketing Concept The idea that the social and economic justification for an organization’s existence is the satisfaction of customer wants and needs while meeting organizational objectives. Marketing cannot be accomplished in isolation. Even though the marketing function resides with marketers, the concept of marketing must permeate the entire organization. 4 4

The Marketing Concept LO2 Focusing on customer wants and needs to distinguish products from competitors’ offerings Integrating all the organization’s activities to satisfy these wants Achieving the organization’s long-term goals by satisfying customer wants and needs legally and responsibly 5

Achieving a Marketing Orientation LO2 Obtain information about customers, competitors, and markets Examine the information from a total business perspective Determine how to deliver superior customer value Implement actions to provide value to customers Online http://www.westernunion.com 6

Societal Marketing LO2 Societal Marketing Orientation An organization exists not only to satisfy customer wants but also to preserve or enhance individuals’ and society’s long-term best interests. Less toxic products More durable products Products with reusable or recyclable materials 7

Sales and Marketing Orientations LO3 Discuss the differences between sales and market orientations 8

Sales vs. Market Orientations LO3 Sales vs. Market Orientations Organization’s Focus Firm’s Business For Whom? Primary Profit Goal? Tools to Achieve Selling goods and services Everybody Maximum sales volume Primarily promotion Inward Sales Orientation Market Orientation Outward Coordinated use of all marketing activities Customer satisfaction Specific groups of people Satisfying wants and needs 9

Customer Value LO3 Customer Value Chapter PHOTO Here The relationship between benefits and the sacrifice necessary to obtain those benefits. Chapter PHOTO Here 10

Customer Value Requirements LO3 Offer products that perform Earn trust Avoid unrealistic pricing Give the buyer facts Offer organization-wide commitment in service and after-sales support 11

Customer Satisfaction LO3 Customer Satisfaction Chapter PHOTO Here The feeling that a product met or exceeded the customer’s expectations. 12

Building Relationships LO3 Relationship Marketing Chapter PHOTO Here A strategy that focuses on keeping and improving relationships with current customers. 13

Building Relationships Customer-oriented personnel Employee training programs Empowered employees Teamwork LO3 14

Use the Internet to research companies that utilize each of the four marketing philosophies.   Write at least one example of a company that utilizes each philosophy on the Marketing Philosophies Comparison Sheet.