Marketing is an integrated communications-based process through which individuals and communities discover that existing and newly-identified needs and wants may be satisfied by the products and services of others. is an integrated communications-based process through which individuals and communities discover that existing and newly-identified needs and wants may be satisfied by the products and services of others.

Importance of Marketing Provides a course of action for companies to constantly assess changing conditions Provides a course of action for companies to constantly assess changing conditions Provides the expertise to develop appropriate strategies for organizations to take advantage of the change Provides the expertise to develop appropriate strategies for organizations to take advantage of the change Marketing is a broad topic that covers a range of aspects, including advertising, public relations, sales, and promotions. Marketing is a broad topic that covers a range of aspects, including advertising, public relations, sales, and promotions. One of Canada’s most successful and best-managed brand is Tim Hortons for all its marketing related reasons – One of Canada’s most successful and best-managed brand is Tim Hortons for all its marketing related reasons – Strong customer service Strong customer service Popular products Popular products Productive community involvement Productive community involvement A large number of locations A large number of locations

Marketing Past & Present Contemporary marketing is based on a simple idea – “To identify a need and then satisfy it”

There are four orientations how organizations approach customers : Production orientation: Production orientation: Selling Orientation Selling Orientation Marketing Orientation Marketing Orientation Socially responsible marketing orientation: Socially responsible marketing orientation:

Production Orientation Production orientation: Organizations follow production orientation pay little attention to what customers need. "Supply creates its own demand". To put it another way, "if somebody makes a product, somebody else will want to buy it". e.g. the story of Henry Ford’s Model T says "You can have it any color you like, as long as it's black." Production orientation: Organizations follow production orientation pay little attention to what customers need. "Supply creates its own demand". To put it another way, "if somebody makes a product, somebody else will want to buy it". e.g. the story of Henry Ford’s Model T says "You can have it any color you like, as long as it's black."

Selling orientation: Organizations believes the more they sell the more profit they will make. e.g. GM offered the Chevrolet and Pontiac in a lower price. Selling orientation: Organizations believes the more they sell the more profit they will make. e.g. GM offered the Chevrolet and Pontiac in a lower price.

Marketing orientation: Business planning determines the needs and wants of a target market to deliver a set of satisfaction. e.g. Burger King with its famous advertising slogan “Have it your way”. Marketing orientation: Business planning determines the needs and wants of a target market to deliver a set of satisfaction. e.g. Burger King with its famous advertising slogan “Have it your way”.

Socially responsible marketing orientation: considering the environment and other worthwhile causes (AIDS / cancer research). e.g. Toyota Canada joined with Earth Day Canada offering entry scholarship Socially responsible marketing orientation: considering the environment and other worthwhile causes (AIDS / cancer research). e.g. Toyota Canada joined with Earth Day Canada offering entry scholarship

Marketing in practice Host of activities designed to attract, satisfy, and retain customers. Host of activities designed to attract, satisfy, and retain customers. Four essential elements are discussed: Four essential elements are discussed:

Marketing in practice 1. Assessing customer needs 1. Assessing customer needs 2. Identifying and selecting Target Market 3. Developing strategic marketing plan 4. Evaluating the marketing strategy

1. Assessing customer needs by marketing research and identify new opportunity to introduce new product line. e.g. Dove introduced Dove Cleansing Cloths to meet the convenience and efficiency needs of busy women. 1. Assessing customer needs by marketing research and identify new opportunity to introduce new product line. e.g. Dove introduced Dove Cleansing Cloths to meet the convenience and efficiency needs of busy women.

2. Identifying and selecting Target Market as organizations cannot satisfy the needs of all consumers. Members of target group have something in common. e.g. Half of the Canadian coffee drinkers are 35 to 64 years old and those drinkers who own their own coffee maker are highly educated (college/ university degree) Members of target group have something in common. e.g. Half of the Canadian coffee drinkers are 35 to 64 years old and those drinkers who own their own coffee maker are highly educated (college/ university degree)

3. Developing strategic marketing plan refers to set of strategic elements comprising 4Ps – Product (quality, size, brand name, packaging, guarantee, feature, service) Price (Discount, allowances, payment, period, credit term) Place (Location, inventory, Internet, Physical distribution) Promotion (Advertising, Sales promotion, Public relation, Internet) Consumer

Price strategy

Place or Distribution Strategy Kraft Canada (manufacturer) makes it available to Whole sellers Kraft Canada (manufacturer) makes it available to Whole sellers

Who is Kraft Canada? Kraft Foods, Inc. is the largest candy, food, and beverage company headquartered in the United States and the second-largest in the world (after Nestlé ).It markets many brands in more than 155 countries. Kraft Foods, Inc. is the largest candy, food, and beverage company headquartered in the United States and the second-largest in the world (after Nestlé ).It markets many brands in more than 155 countries.United StatesUnited States The company is headquartered in Northfield, Illinois, a Chicago suburb. Its European headquarters are just outside Zürich, Switzerland. The company is headquartered in Northfield, Illinois, a Chicago suburb. Its European headquarters are just outside Zürich, Switzerland.Northfield, Illinois ChicagoEuropeanZürichSwitzerlandNorthfield, Illinois ChicagoEuropeanZürichSwitzerland Canadian-born and of German origin, James L. Kraft started a wholesale door-to-door cheese business in Chicago in 1903; Canadian-born and of German origin, James L. Kraft started a wholesale door-to-door cheese business in Chicago in 1903; CanadianGermanJames L. Kraftwholesaledoor-to-doorcheese CanadianGermanJames L. Kraftwholesaledoor-to-doorcheese

Various methods of Promotion: Advertising – persuasive form of marketing communications designed to stimulate a positive response Sales promotion – to encourage immediate response from consumers and distributors such as cash refund, coupons, contest, trade allowance, rebate, etc. Event marketing – to provide sponsorship, money to support an event. Reebok 5-year partnership with Canadian Football League. Personal selling – face-to-face or other form of communication (telemarketing). Public relation – firm’s relationship with customers, shareholders, employees, government, suppliers, and distributors.

4. Evaluating the marketing strategy involves test marketing by placing a product for sale in a small are of market and observing its performance. Launching a Business? Do You Know How to Test Your Market?

Relationship marketing era Managing relationship with customers and other members of the channel of distribution is Customer Relationship Management (CRM). Marketing strategies are developed in the best interests of everyone.

Corporate culture – needed for relationship marketing to be successful. The values, norms, practices shared by all the employees to serve the customers. Corporate culture – needed for relationship marketing to be successful. The values, norms, practices shared by all the employees to serve the customers.