1. McGraw-Hill/Irwin Copyright © 2009 by The McGraw-Hill Companies, Inc. All Rights Reserved.

2. HOW DO COLLEGE STUDENTS STUDY? A NEW PRODUCT CHALLENGE FOR 3M! 1-2

3. HOW DO COLLEGE STUDENTS STUDY? DISCOVERING STUDENT STUDYING NEEDS 3M Post-it ® Notes or Post-it ® Flags + Felt Tip Highlighters = 3M product that will combine Post-it ® Notes or Post-it ® Flags and Highlighters 1-3

4. HOW DO COLLEGE STUDENTS STUDY? SATISFYING STUDENT STUDYING NEEDS 1-4

5. Marketing Marketing is the activity for creating, communicating, delivering, and exchanging offerings that benefit the organization, its stakeholders, and society at large. 1-5

6.  Marketing Is NOT Easy Affects ALL Individuals, Organizations, Industries, and Countries WHAT IS MARKETING ? LO1  You Are a Marketing Expert Already Involved in 1,000s of Buying Decisions Some Involved in Selling Decisions 1-6

7.  Marketing Seeks to:  Exchange Discover Needs and Wants of Customers Satisfy Them WHAT IS MARKETING? DELIVERING BENEFITS LO1 AMA Definition of Marketing 1-7

8. WHAT IS MARKETING? DIVERSE FACTORS INFLUENCE MARKETING ACTIVITIES LO1  Organization Itself  Society  Environmental Forces 1-8

9. FIGURE 1-2 FIGURE 1-2 A marketing department relates to many people, organizations, and environmental forces 1-9

10.  Parties with Unsatisfied Needs WHAT IS MARKETING? REQUIREMENTS FOR IT TO OCCUR LO1  A Desire and Ability to be Satisfied  A Way for the Parties to Communicate  Something to Exchange 1-10

11. HOW MARKETING DISCOVERS CONSUMER NEEDS THE CHALLENGE: NEW PRODUCTS LO2  Consumers May Not Know or Cannot Describe What They Need or Want  Most New Products Fail “Focus on the Consumer Benefit” “Learn From the Past”  The Challenge: 1-11

12.  Need  Want  Does Marketing Persuade People to Buy the “Wrong” Things?  Market HOW MARKETING DISCOVERS CONSUMER NEEDS NEEDS VS. WANTS LO2 1-12

13. FIGURE 1-3 FIGURE 1-3 Marketing seeks to discover then satisfy consumer needs through research and a marketing program 1-13

14. HOW MARKETING SATISFIES CONSUMER NEEDS LO3 Promotion Place  Target Market  The 4 P’s: Controllable Marketing Mix Factors Product Price $399 1-14

15. HOW MARKETING SATISFIES CONSUMER NEEDS LO3 Technological Regulatory  Uncontrollable Environmental Forces Social Economic Competitive 1-15

16. MARKETING PROGRAM CUSTOMER VALUE AND RELATIONSHIPS LO4 Best Price Best Service  Customer Value Best Product  Value Strategies 1-16

17. Costco and Starbucks What customer value strategy? LO4 1-17

18. MARKETING PROGRAM RELATIONSHIP MARKETING LO4 Easy to Understand  Relationship Marketing Hard to Do  Marketing Program 1-18

19. HOW MARKETING BECAME IMPORTANT EVOLUTION OF THE MARKET ORIENTATION LO5  Production Era  Sales Era  Marketing Concept Era  Customer Relationship Era Market Orientation Customer Relationship Management (CRM) Customer Experience 1-19

20. FIGURE 1-5 FIGURE 1-5 Four different market orientations in the history of American business 1-20

21. HOW MARKETING BECAME IMPORTANT ETHICS AND SOCIAL RESPONSIBILITY LO5  Ethics  Social Responsibility Societal Marketing Concept Macromarketing Micromarketing 1-21

22. HOW MARKETING BECAME IMPORTANT BREADTH AND DEPTH OF MARKETING LO6  Who Markets?  What Is Marketed? Goods Services Ideas 1-22

23. HOW MARKETING BECAME IMPORTANT BREADTH AND DEPTH OF MARKETING LO6  Who Benefits?  Who Buys & Uses What Is Marketed? Ultimate Consumers Organizational Buyers  How Do Consumers Benefit? Utility  Form Utility  Place Utility  Time Utility  Possession Utility 1-23