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Advanced Courses Lecture 2 By Eng. Yasser Fouad Abd El Aziz
MBA, BSc, CEng. Sales & Marketing Director IBE Technologies Tel.: (+202) – Mobiles: (+2012) Fax: (+202) To accompany A Framework for Marketing Management, 2nd Edition
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Introduction to Marketing
“The future isn’t ahead of us. It has already happened.” To accompany A Framework for Marketing Management, 2nd Edition
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To accompany A Framework for Marketing Management, 2nd Edition
Objectives Understand the new economy. Learn the tasks of marketing. Become familiar with the major concepts and tools of marketing. Understand the orientations exhibited by companies. To accompany A Framework for Marketing Management, 2nd Edition
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To accompany A Framework for Marketing Management, 2nd Edition
Objectives Learn how companies and marketers are responding to new challenges. To accompany A Framework for Marketing Management, 2nd Edition
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To accompany A Framework for Marketing Management, 2nd Edition
The New Economy Consumer benefits from the digital revolution include: Increased buying power. Greater variety of goods and services. Increased information. Enhanced shopping convenience. Greater opportunities to compare product information with others. To accompany A Framework for Marketing Management, 2nd Edition
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To accompany A Framework for Marketing Management, 2nd Edition
The New Economy Firm benefits from the digital revolution include: New promotional medium. Access to richer research data. Enhanced employee and customer communication. Ability to customize promotions. To accompany A Framework for Marketing Management, 2nd Edition
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To accompany A Framework for Marketing Management, 2nd Edition
Marketing Tasks Marketing practices may pass through three stages: Entrepreneurial marketing Formulated marketing Intrepreneurial marketing To accompany A Framework for Marketing Management, 2nd Edition
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To accompany A Framework for Marketing Management, 2nd Edition
What Can Be Marketed? Goods Services Experiences Events Persons Places Properties Organizations Information Ideas To accompany A Framework for Marketing Management, 2nd Edition
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To accompany A Framework for Marketing Management, 2nd Edition
Marketing Defined Kotler’s social definition: “Marketing is a societal process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others.” To accompany A Framework for Marketing Management, 2nd Edition
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To accompany A Framework for Marketing Management, 2nd Edition
Marketing Defined The AMA managerial definition: “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.” To accompany A Framework for Marketing Management, 2nd Edition
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Marketing =Demand Management
Negative demand No demand Latent demand Declining demand Irregular demand Full demand Overfull Demand Unwholesome demand To accompany A Framework for Marketing Management, 2nd Edition
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To accompany A Framework for Marketing Management, 2nd Edition
4 Types of Markets Consumer Markets Business Markets Global Markets Nonprofit and Governmental Markets To accompany A Framework for Marketing Management, 2nd Edition
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Core Marketing Concepts
Target markets and market segmentation Marketplace, market-space, metamarkets Marketers & prospects Needs, wants, demands Product offering and brand Value and satisfaction Exchange and transactions Relationship and networks Marketing channels Supply chain Competition Marketing environment Marketing program To accompany A Framework for Marketing Management, 2nd Edition
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Core Marketing Concepts
Target markets & segmentation Differences in needs, behavior, demographics or psychographics are used to identify segments. The segment served by the firm is called the target market. The market offering is customized to the needs of the target market. To accompany A Framework for Marketing Management, 2nd Edition
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Simple Marketing System
To accompany A Framework for Marketing Management, 2nd Edition
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Modern Marketing System
To accompany A Framework for Marketing Management, 2nd Edition
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Core Marketing Concepts
Shopping can take place in a: Marketplace (physical entity, Lowe’s) Marketspace (virtual entity, Amazon) Metamarkets refer to complementary goods and services that are related in the minds of consumers. Marketers seek responses from prospects. To accompany A Framework for Marketing Management, 2nd Edition
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Core Marketing Concepts
Needs describe basic human requirements such as food, air, water, clothing, shelter, recreation, education, and entertainment. Needs become wants when they are directed to specific objects that might satisfy the need. (Fast food) Demands are wants for specific products backed by an ability to pay. To accompany A Framework for Marketing Management, 2nd Edition
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Core Marketing Concepts
A Product is any offering that can satisfy a need or want, while a brand is a specific offering from a known source. When offerings deliver value and satisfaction to the buyer, they are successful. Value = Benefits/Costs To accompany A Framework for Marketing Management, 2nd Edition
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To accompany A Framework for Marketing Management, 2nd Edition
Enhancing Value Marketers can enhance the value of an offering to the customer by: Raising benefits. Reducing costs. Raising benefits while lowering costs. Raising benefits by more than the increase in costs. Lowering benefits by less than the reduction in costs. To accompany A Framework for Marketing Management, 2nd Edition
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Core Marketing Concepts
Exchange involves obtaining a desired product from someone by offering something in return. Transaction involves at least two things of value, agreed-upon conditions, a time of agreement, and a place of agreement. To accompany A Framework for Marketing Management, 2nd Edition
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Core Marketing Concepts
Relationship marketing aims to build long-term mutually satisfying relations with key parties, which ultimately results in marketing network between the company and its supporting stakeholders. To accompany A Framework for Marketing Management, 2nd Edition
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Core Marketing Concepts
Marketing Channels Communication channels Distribution channels Service channels Deliver messages to and receive messages from target buyers. Includes traditional media, non-verbal communication, and store atmospherics. To accompany A Framework for Marketing Management, 2nd Edition
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Core Marketing Concepts
Marketing Channels Communication channels Distribution channels Service channels Display or deliver the physical products or services to the buyer / user. To accompany A Framework for Marketing Management, 2nd Edition
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Core Marketing Concepts
Marketing Channels Communication channels Distribution channels Selling channels Carry out transactions with potential buyers by facilitating the transaction. To accompany A Framework for Marketing Management, 2nd Edition
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Core Marketing Concepts
A supply chain stretches from raw materials to components to final products that are carried to final buyers. Each company captures only a certain percentage of the total value generated by the supply chain. To accompany A Framework for Marketing Management, 2nd Edition
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Core Marketing Concepts
Four levels of competition can be distinguished by the level of product substitutability: Brand competition Industry competition Form competition Generic competition To accompany A Framework for Marketing Management, 2nd Edition
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Core Marketing Concepts
The following forces in the broad environment have a major impact on the task environment: Demographics Economics Natural environment Technological environment Political-legal environment Social-cultural environment To accompany A Framework for Marketing Management, 2nd Edition
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Core Marketing Concepts
The marketing program is developed to achieve the company’s objectives. Marketing mix decisions include: The 4 Ps Product: provides customer solution. Price: represents the customer’s cost. Place: customer convenience is key. Promotion: communicates with customer. To accompany A Framework for Marketing Management, 2nd Edition
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Core Marketing Concepts
To accompany A Framework for Marketing Management, 2nd Edition
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Core Marketing Concepts
4 Ps Product Price Place Promotion 4 Cs Customer solution Cost Convenience Communication To accompany A Framework for Marketing Management, 2nd Edition
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To accompany A Framework for Marketing Management, 2nd Edition
Company Orientations The orientation or philosophy of the firm typically guides marketing efforts. Several competing orientations exist: Production concept Product concept Selling concept Marketing concept Societal marketing concept To accompany A Framework for Marketing Management, 2nd Edition
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To accompany A Framework for Marketing Management, 2nd Edition
Company Orientations To accompany A Framework for Marketing Management, 2nd Edition
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To accompany A Framework for Marketing Management, 2nd Edition
The Marketing Concept Achieving organizational goals requires that company be more effective than competitors in creating, delivering, and communicating customer value. Four pillars of the marketing concept: Target market Customer needs Integrated marketing Profitability To accompany A Framework for Marketing Management, 2nd Edition
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To accompany A Framework for Marketing Management, 2nd Edition
The Marketing Concept To accompany A Framework for Marketing Management, 2nd Edition
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To accompany A Framework for Marketing Management, 2nd Edition
Marketing Role To accompany A Framework for Marketing Management, 2nd Edition
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Changes in the Marketplace
Globalization, technological advances, and deregulation have created many challenges: Customers Brand manufacturers Store-based retailers Both companies and marketers have been forced to respond and adjust. To accompany A Framework for Marketing Management, 2nd Edition
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Company vs. Marketer Responses
Reengineering Outsourcing E-commerce Benchmarking Alliances Partner-suppliers Market-centered Global & Local Decentralized Marketer Relationship marketing Customer lifetime value Customer share Target marketing Individualization Customer database Integrated communications Channels as partners Every employee a marketer Model base decision making To accompany A Framework for Marketing Management, 2nd Edition
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