1. MT 219 Marketing Unit One Welcome! Course Overview Introduction to Marketing

2. Let’s Review: Objectives The effect of the environment on marketing strategy What influences consumer behavior? Segmentation, targeting, positioning The marketing mix – our tool box The role of marketing in service firms

3. Let’s Review: Course Element Overview Element% overall grade Discussion response36% Projects36% Reviews8% Brand Analysis20% -Discussion (10%) -Final Paper (10%) Extra Credit is not offered

4. Let’s Review: Discussions Opportunity to clarify Work with material Ask questions Get help from instructor and classmates Exchange ideas Get feedback And they are fun!

5. Let’s Review: How to do well in discussions Pay attention to the rubric in your syllabus Post early Respond to at least two classmates Apply the language and concepts from your readings in your responses Interpret your own knowledge in terms of the course – personal experience is great, but apply your reading to it Check out the key terms at the end of each unit – try to incorporate them Use web based research where appropriate to make a point Use material from previous units to link concepts Be thoughtful, thorough, and substantive Check frequently to see if anyone has asked questions Anytime you are at your computer, and have a couple of minutes, drop in!

6. Let’s Review: Working with the projects You have a choice: web or video based essays Both require you to apply what you have learned in that unit There are transcripts for some of the videos under Course Home Review the rubric on pages 7 & 8 for guidelines Proof, proof, proof – grammar and spelling matters. Using APA is recommended. See page 5 of syllabus Apply the concepts and language of the course Answer all the questions in terms of the key concepts of that unit Be thorough, especially when examining the website Additional research may be used. For example, if you are working with a video and wish to examine websites as well, that can only enhance your work. If something is confusing, check with your professor

7. Let’s Review: Reviews Multiple choice quizzes Think the question through Retake the quizzes as necessary

8. Let’s Review: Final Brand Analysis Project You will work with the brand you choose in unit one The project will require research, application, and creativity as well as analysis You will have an opportunity to spend more time discussing the project in the other seminars Work will begin on the project in unit five, but gather material as you go – note promotions, ads, articles relative to your brand and save them.

9. Let’s Review: Brand Analysis – Discussion Thread In Unit Five you will begin work on a second discussion thread called the Brand Analysis Each unit/thread will deal with some aspect of the marketing strategy or marketing mix for your chosen brand These threads not only prepare you for your final project but give you the chance to get help and feedback from your classmates and Professor

10. Let’s Review: Deadlines All units close midnight EST on Tuesdays Discussion threads will be closed at that time and cannot be handed in late All unit projects are also due at that time See page 13 of course syllabus for late policies for projects 1-2 calendar days late = 5% penalty 3-6 calendar days late = 10% penalty 7-21 calendar days late = 20% penalty more than 21 days = automatic zero Final projects cannot be turned in after the last day of unit 9

11. Let’s Review: Seminars Fun and helpful Opportunity to ask questions Opportunity to interact with classmates Day and time, as well as link to seminar room, will be posted by the instructor in the Announcements You can review the recording (which will be posted as a link in an Announcement) if you are unable to attend

12. What is Marketing ? A process that focuses on -consumer relationships and satisfaction, and -the creation, distribution, promotion, pricing of: -goods -services -ideas

13. What is the purpose of Marketing? The purpose of Marketing – to make a profit by providing value in a social context. Marketing, more than any other topic deals with the customer. Your e-book by Pride and Ferrell gave a fantastic definition. It states, “Marketing is the process of creating, distributing, promoting, and pricing goods, services, and ideas to facilitate satisfying exchanges with customers and develop and maintain favorable relationships with stakeholders in a dynamic environment.” That’s a pretty big definition! There are also some very important words in that definition. By process, we are referring to a system or a method. A majority of that definition contains the elements of a very important term called the “Marketing Mix.”

14. Marketing Mix This is a term we will reference throughout the course. Figure 1.1 in your e-book has a fantastic diagram that shows the importance of the marketing mix as a component of marketing. The marketing mix includes 4 elements/activities of marketing. These are sometimes referred to as the 4Ps of marketing, which include Product, Price, Promotion and Place. Place is also referred to as “distribution.” Your text states that the primary job of a marketing manager is to create and maintain the right mix of these elements to satisfy customer’s needs for a general product type. For example, a company could have the best product in the world offered at a great price with exceptional promotion. However, if you cannot get the product to the customer, than you have no sales. This example refers to the importance of the “place or distribution” element of the marketing mix. These concepts will make more sense as we dive deeper into the class.

15. Summary – the Marketing Mix The Marketer’s tool box – the Marketing Mix The product – anything that is offered to consumers for their satisfaction The price – what consumers give up for the product The place – where, when and how consumers access and possess the product Promotion- communication between the provider of the product and the consumer

16. The marketing orientation has evolved The production orientation The sales orientation The marketing orientation

17. History of Marketing When I studied marketing many, many years ago, I was taught that marketing by definition was satisfying a customer’s needs and wants at a profit. Today, in the year 2007, marketing is so much more. As you read your textbook for the course, you will come across the word “RELATIONSHIP” frequently. Marketing is a concept that has evolved over time....there is an actual history behind the concept of marketing For example, the first era in the history of business was called “the production era”. What made the production era significantly different is that a business focused most of their efforts on increasing the efficiency of their production lines. Henry Ford was known by some as “The Godfather of the Production Era”. He had a wonderful phrase that has been quoted in business textbooks for the last 90 years. -You can have a car in any color you want…as long as it’s in black. -Henry Ford was not particularly interested that some customers may have wanted their cars in blue, white, and green or orange; he wanted to make his life as easy as possible.

18. History of Marketing Following the production era was the “sales era”. The sales era occurred prior to the 1950’s and the concept was that creative adverting and selling would convince consumers to buy a product or service. This era didn’t focus too much on the customer’s needs and wants. The “marketing era” was the third era in the history of marketing. This concept was revolutionary because for the first time, businesses were approaching the consumer asking them what products or services they would like. Businesses focused on the needs and wants of the clients. The last era is called the “relationship era” which focuses on long-term relationships with customers and other partners to achieve success. This is where we are today.

19. What is the marketing concept? A managerial philosophy involving -The satisfaction of consumer needs and wants -The coordination of activities -Satisfaction of goals

20. What is customer relationship marketing? Long term Mutually satisfying Buyers and sellers both benefit

21. What is Value? Benefits minus costs = Value -Benefits are what customers get out of a product -Costs can take many forms -Money -Time -Risk -Aggravation -Other?

22. Marketing does not exist in a vacuum Marketers must consider -the economy -demographic changes -social and cultural changes -technological changes -the natural environment has an impact -politics and laws

23. Marketing is crucial to the global economy Marketing costs are high Marketing is important to both organizations that make profits and those that do not The global economy is fueled by new products Consumers learn from marketing communications Marketing can be used for both profit and for furthering the interests of society Marketing offers many careers

24. Some basic concepts to remember Need – anything consumers feel a lack of Want – the shape a need takes when affected by culture Demand – a need/want backed up by buying power Target market – those most likely to buy Satisfaction – meeting expectations Product – anything that satisfies a need or a want

25. You Have Marketing Experience Believe it or not, every person in this class has a degree of marketing experience. We are marketed to as consumers on a daily basis. -Consider ads and promotions that attract your attention. Are you more easily reached via mailings, radio, television, billboard, or online advertising? -What factors influence your purchasing decisions? -Price -Convenience -Service -Product availability How do you think you can apply marketing concepts to either your career or personal life?

26. Any Questions? Thank you for attending! See you next week! Instructor will post the link to the recording of tonight’s seminar in the course Announcements.