1. Defining Marketing for the 21 st Century Marketing Management, 13 th ed 1

2. Introductions Spend 5 minutes talking with the person next to you and then be prepared to answer 3 Questions on their behalf. Their name and Nationality Experience in Marketing What they expect from the Course ? 1-2

3. Admin Description of the Course Textbook Allocation of Marks Class Monitor Groups Break Times Cell Phones: Off or Silent Remember to sign the Register ! Other Questions ? 1-3

4. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 1-4 Key Questions Why is marketing important? What is the scope of marketing? What are some fundamental marketing concepts? How has marketing management changed? What are the tasks necessary for successful marketing management?

5. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 1-5 What is Marketing? Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.

6. Marketing is the Management Process responsible for identifying, anticipating and satisfying Customer needs profitably.

7. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 1-7 What is Marketing Management? Marketing management is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.

8. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 1-8 What is Marketed? Goods Services Events & Experiences Persons Places & Properties Organizations Information Ideas

9. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 1-9 Figure 1.1 Structure of Flows in a Modern Exchange Economy

10. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 1-10 Figure 1.2 A Simple Marketing System

11. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 1-11 Demand States Nonexistent Latent Declining Irregular Full UnwholesomeOverfull Negative

12. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 1-12 Function of Marketing Strengthening the brands Measuring marketing effectiveness Driving new product development based on customer needs Gathering meaningful customer insights Utilising new marketing technology

13. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 1-13 Figure 1.3 Improving Marketing Success Make the mission and responsibilities clear Fit the rôle to the marketing culture and structure Ensure the CMO is compatible with the CEO Remember that show people don’t succeed Match the personality with the CMO type Make line managers marketing heroes Infiltrate the line organisation Require right-brain and left-brain skills

14. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 1-14 Core Marketing Concepts Needs, wants, and demands Target markets Positioning Segmentation Offerings and Brands Value and satisfaction Marketing channels Supply chain Competition Marketing environment

15. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 1-15 I want it, I need it… Five Types of Needs Stated needs Real needs Unstated needs Delight needs Secret needs

16. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 1-16 The marketplace isn’t what it used to be… Information technology Globalization Deregulation Privatization Competition Convergence Consumer resistance Retail transformation

17. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 1-17 New Consumer Capabilities A substantial increase in buying power A greater variety of available goods and services A great amount of information about practically anything Greater ease in interacting and placing and receiving orders An ability to compare notes on products and services An amplified voice to influence public opinion

18. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 1-18 Company Orientations Production SellingMarketing Product

19. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 1-19 Figure 1.4 Holistic Marketing Dimensions

20. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 1-20 Figure 1.5 The Four P’s

21. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 1-21 Internal Marketing Internal marketing is the task of hiring, training, and motivating able employees who want to serve customers well.

22. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 1-22 Performance Marketing Financial Accountability Social Responsibility Marketing Social Initiatives Corporate social marketing Cause marketing Corporate philanthropy Corporate community involvement Socially responsible business practices

23. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 1-23 Marketing Management Tasks Develop market strategies and plans Capture marketing insights Connect with customers Build strong brands Shape market offerings Deliver value Communicate value Create long-term growth

24. Marketing is the Management Process responsible for identifying, anticipating and satisfying Customer needs profitably.

25. What is Marketed? Goods Services Events & Experiences Persons Places & Properties Organizations Information Ideas

26. A Simple Marketing System

27. Structure of Flows in a Modern Exchange Economy

28. Functions of Marketing Strengthening the brands Measuring marketing effectiveness Driving new product development based on customer needs Gathering meaningful customer insights Utilising new marketing technology

29. Core Marketing Concepts Needs, Wants, and Demands Target markets, positioning, segmentation Offerings and brands Value and satisfaction Marketing channels Supply chain Competition Marketing environment

30. I want it, I need it… Five Types of Needs Stated needs Real needs Unstated needs Delight needs Secret needs

31. The marketplace isn’t what it used to be… Information technology Globalisation Deregulation Privatisation Competition Convergence Consumer resistance Retail transformation

32. New Consumer Capabilities A substantial increase in buying power A greater variety of available goods and services A great amount of information about practically anything Greater ease in interacting and placing and receiving orders An ability to compare notes on products and services An amplified voice to influence public opinion

33. What Influences Consumer Behaviour? Cultural Factors Social Factors Personal Factors

34. Subcultures Nationalities Religions Racial groups Geographic regions

35. Social Factors Reference groups Social roles Statuses Family

36. Reference Groups Membership groups Primary groups Secondary groups Aspirational groups Dissociative groups

37. vramaswamy@eccpartnership.com fgouillart@eccpartnership.com 37 Build-A-Bear Workshop Is A Highly Successful, Innovative Retailer Source: Company Presentation for Investment Analysts, March 2006

38. vramaswamy@eccpartnership.com fgouillart@eccpartnership.com 38 The Chief Executive Bear Source: http://www.oprah.com/tows/slide/200402/20040225/tows_slide_20040225_01.jhtml Maxine Clark Chairman & Chief Executive Bear Build-A-Bear is the brainchild of Maxine Clark, who is known as “Chief Executive Bear.” She says the idea for the stores came to her when she was shopping for Beanie Babies with a 10-year-old friend. “I had been in the retail business for many years,” she says. “I felt it had gotten boring and I wanted to put the fun back in. What better way to appeal to children, and the heart of a child that's inside all of us?”

39. SWOT Strengths & Weaknesses are Internal analysis and are all relative to Competition. Opportunities & Threats are External analysis Do not include the same issue in multiple boxes ! Absolute Maximum of 7 in any box – focus on importance. 22-Jun-16 39

40. 22-Jun-16 40

41. PEST Analysis EconomicPolitical-Legal Socio-CulturalTechnological

42. The Joy of Jargon Use the correct jargon: Differentiation, Marketing Mix, Strap/Tag Line, Holistic Marketing, Segmentation, Niche Strategy, Brand Positioning etc. It is more concise and more specific, leaving less room for confusion when used by professionals.