1. Marketing 8th Canadian Edition Powerpoints prepared by: Victor Bilodeau Grant MacEwan University - School of Business © 2011 McGraw-Hill Ryerson Ltd. All rights reserved.

2. Marketing: Customer Value, Satisfaction, Customer Relationships, and Customer Experiences 1 1 © 2011 McGraw-Hill Ryerson Ltd. All rights reserved.

3. 1. Define marketing.marketing 2. Understand the scope and dimensions of marketing. 3. Explain how marketing discovers and satisfies consumer needs and wants. 4. Recognize the marketing mix elements and see how they can be combined into a marketing program.marketing mix 5. Understand the importance of ethics and social responsibility in marketing.ethicssocial responsibility Learning Objectives After engaging with this lecture, you should be able to: © 2011 McGraw-Hill Ryerson Ltd. All rights reserved.

4. ‣ American Marketing Association Definition ‣ The activity for creating, communicating, delivering and exchanging offerings that benefit the organization, its stakeholders and society at large. WHAT IS MARKETING? LO 1 © 2011 McGraw-Hill Ryerson Ltd. All rights reserved.

5. ‣ Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives. WHAT IS MARKETING? © 2011 McGraw-Hill Ryerson Ltd. All rights reserved.

6. What are the Commonalities? ‣ The activity for creating, communicating, delivering and exchanging offerings that benefit the organization, its stakeholders and society at large. ‣ Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.

7. ‣ What is a Market? ‣ “Who” Markets? ‣ What is Marketed? ‣ Who Buys What is Marketed? ‣ Who Benefits? THE SCOPE AND DIMENSIONS OF MARKETING LO 2 © 2011 McGraw-Hill Ryerson Ltd. All rights reserved.

8. ‣ A market is a collection of entities (people and/or oganizations) with the desire and the ability to buy a specific product. What is a Market? © 2011 McGraw-Hill Ryerson Ltd. All rights reserved.

9. LO 2 © 2011 McGraw-Hill Ryerson Ltd. All rights reserved. “Who” markets? ‣ For profit businesses ‣ Not-for-profit organizations ‣ Associations ‣ Causes ‣ Places ‣ People … including students!

10. ‣ Physical products ‣ Services ‣ Experiences ‣ Ideas ‣ Think of an example of each ‣ What is the difference between a service and an experience? Between an experience and an idea? What is Marketed? © 2011 McGraw-Hill Ryerson Ltd. All rights reserved.

11. Who’s marketing What in these ads?

12. ‣ Marketing designed to influence the behaviour of individuals in which the benefits of the behaviour accrue to those individuals or to the society in general and not to the marketer. ‣ Can you think of an example of Social Marketing? Social Marketing © 2011 McGraw-Hill Ryerson Ltd. All rights reserved.

13. LO 2 © 2011 McGraw-Hill Ryerson Ltd. All rights reserved. “Who” buys? ‣ End Consumers ‣ Resellers ‣ Middle entities – retailers, wholesalers, distributors ‣ Manufacturers - buy inputs to create other products ‣ Which type of buyer is most important?

14. LO 2 © 2011 McGraw-Hill Ryerson Ltd. All rights reserved. “Who” benefits and How? ‣ Marketers – revenue, profit, influence ‣ Buyers – satisfaction of needs ‣ Society – economic growth, standard of living

15. ‣ Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives. ‣ What are “individual objectives?” WHAT IS MARKETING? © 2011 McGraw-Hill Ryerson Ltd. All rights reserved.

16. CUSTOMER NEEDS AND WANTS ‣ Needs – fundamental sources of dissatisfaction ‣ Wants – specific ways of fulfilling needs ‣ Marketing strives to make customers “want” a particular way to fulfill a given need. ‣ Can marketing create needs? Should marketing try to do so?

17. FIGURE 1-2 Marketing’s first task: discovering consumer needs LO 3 © 2011 McGraw-Hill Ryerson Ltd. All rights reserved.

18. ‣ One or more specific groups of potential customers toward which an organization directs its marketing program. Target Market © 2011 McGraw-Hill Ryerson Ltd. All rights reserved.

19. FIGURE 1-3 Marketing’s second task: satisfying consumer needs LO 4 © 2011 McGraw-Hill Ryerson Ltd. All rights reserved.

20. ‣ The marketing mix is product, price, promotion, and place. Marketing Mix © 2011 McGraw-Hill Ryerson Ltd. All rights reserved.

21. ‣ The marketing program is a plan that integrates the marketing mix to provide a good, service, or idea to prospective buyers. Marketing Program © 2011 McGraw-Hill Ryerson Ltd. All rights reserved.

22. WILDPLAY ELEMENT PARKS: ACTIVE ADVENTURE EXPERIENCES AWAIT YOU! © 2011 McGraw-Hill Ryerson Ltd. All rights reserved.

23. ‣ WildPlay is a full-service outdoor adventure company offering customers bungee jumping, the King Swing, aerial adventure tree courses, and zip-line rides. ‣ WildPlay was started in September 2005 by two certified climbing guides, Gordon Ross and Tom Benson. ‣ WildPlay targets corporate groups seeking team-building activities, private groups looking for group fun, and school and youth groups looking for adventurous field trips. ‣ Already close to 200,000 people have taken the bungee plunge and over 100,000 have challenged themselves on the Monkido courses! WILDPLAY ELEMENT PARKS: ACTIVE ADVENTURE EXPERIENCES AWAIT YOU! © 2011 McGraw-Hill Ryerson Ltd. All rights reserved.

24. FIGURE 1-4 Marketing Program for WildPlay Element Parks LO 4 © 2011 McGraw-Hill Ryerson Ltd. All rights reserved.

25. ‣ Environmental forces are the uncontrollable factors involving social, economic, technological, competitive, and regulatory forces. ‣ This topic will be the focus for In-class Exercise #1 on Wednesday, January 15, which will challenge you to think about these forces in relation to The Winnipeg Symphony Orchestra! Environmental Forces © 2011 McGraw-Hill Ryerson Ltd. All rights reserved.

26. ‣ Customer value is the unique combination of benefits received by targeted buyers that includes quality, price, convenience, on-timer delivery and both before-sale and after-sale service. Customer Value © 2011 McGraw-Hill Ryerson Ltd. All rights reserved.

27. ‣ The marketing concept is the idea that an organization should strive to satisfy the needs of consumers, while also trying to achieve the organization’s goals. Marketing Concept © 2011 McGraw-Hill Ryerson Ltd. All rights reserved.

28. ‣ An organization that has a market orientation focuses its efforts on continuously collecting information about customers’ needs and competitors capabilities, sharing this information across departments, and using the information to create customer value. Market Orientation © 2011 McGraw-Hill Ryerson Ltd. All rights reserved.

29. ‣ Customer relationship management is the process of identifying prospective buyers, understanding them intimately, and developing long-term perceptions of the organization and its offering so that buyers will choose them in the marketplace. Customer Relationship Management (CRM) © 2011 McGraw-Hill Ryerson Ltd. All rights reserved.

30. ‣ The societal marketing concept is the view that an organization should discover and satisfy the needs of its consumer in a way that also provides for society’s well-being. Societal Marketing Concept © 2011 McGraw-Hill Ryerson Ltd. All rights reserved.

31. ‣ Macromarketing looks at how the aggregate flow of a nation’s goods and services benefits society. Macromarketing © 2011 McGraw-Hill Ryerson Ltd. All rights reserved.

32. ‣ Micromarketing is how an individual organization directs its marketing activities and allocates its resources to benefit its customers. Micromarketing © 2011 McGraw-Hill Ryerson Ltd. All rights reserved.

33. ‣ Ultimate consumers are the people who use the goods and services purchased for a household. Ultimate Consumer © 2011 McGraw-Hill Ryerson Ltd. All rights reserved.

34. ‣ Organizational buyers are units such as manufacturers, retailers, or government agencies that buy goods and services for their own use of for resale. Organizational Buyers © 2011 McGraw-Hill Ryerson Ltd. All rights reserved.

35. ‣ The profit generated by the customer’s purchase of an organization’s product or service over the customer’s lifetime. Customer Lifetime Value (CLV) © 2011 McGraw-Hill Ryerson Ltd. All rights reserved.

36. ‣ The match between customer expectations of the product and the product’s actual performance. Customer Satisfaction © 2011 McGraw-Hill Ryerson Ltd. All rights reserved.

37. ‣ A Web-centric, personalized approach to managing long-term customer relationships electronically. eCRM © 2011 McGraw-Hill Ryerson Ltd. All rights reserved.

38. ‣ The moral principles and values that govern the actions and decisions of an individual or group. Ethics © 2011 McGraw-Hill Ryerson Ltd. All rights reserved.

39. ‣ Individuals and organizations are part of a larger society and are accountable to that society for their actions. Social Responsibility © 2011 McGraw-Hill Ryerson Ltd. All rights reserved.

40. ‣ Managing the customers’ interactions with the organization at all levels and at all touch-points so that the customer has a positive impression of the organization, is satisfied with the experience, and will remain loyal to the organization. Customer Experience Management (CEM) © 2011 McGraw-Hill Ryerson Ltd. All rights reserved.

41. ‣ Marketing efforts to produce, promote, and reclaim environmentally sensitive products. Green Marketing © 2011 McGraw-Hill Ryerson Ltd. All rights reserved.

42. ‣ Involves two-way buyer–seller electronic communication in which the buyer can control the kind and amount of information received from the seller. Interactive Marketing © 2011 McGraw-Hill Ryerson Ltd. All rights reserved.

43. ‣ Consumer-generated online marketing efforts to promote brands and companies for which they are fans (or conversely, negatively promoting brands and companies for which they are non-fans) and the use by marketers of online tools and platforms to promote their brands or organizations. Social Media Marketing © 2011 McGraw-Hill Ryerson Ltd. All rights reserved.