introToMarketing

Marketing is for Everybody : 

Marketing is for Everybody THE PURPOSE OF THE COURSE & THE PURPOSE OF THE TEXT TO SHOW THAT MARKETING IS ESSENTIAL PROVIDE AN UNDERSTANDING OF THE BASIC MARKETING CONCEPTS

Slide 2: 

All Business is International Business

Slide 3: 

Canada has a very high amount of imports and exports per capita - therefore a lot of our business/marketing has to involve international aspects Therefore a “Global-Marketing Approach” is indeed a very appropriate sub-title for the text

The Good Life : 

The Good Life We have a very high standard of living in Canada, according to the United Nations, we have the #1 most desirable place to live “Canada’s ability to retain its high standard of living depends on our skills at competing efficiently on a global and local scale”

So, if we want to keep things good We have to have a good understanding of marketing, here locally, and globally : 

So, if we want to keep things good We have to have a good understanding of marketing, here locally, and globally

What is Marketing ? : 

What is Marketing ? Selling ? Advertising ? Page 4

What is Marketing ? : 

What is Marketing ? We use the word Marketing to describe such things as analyzing the needs of the people trying to guess what types of products they want estimate how much they will buy predict when they will want to buy determine where they go to buy the stuff Page 5

What is Marketing ? : 

What is Marketing ? …. And, figure out the best price to sell it at - and can you still make a profit selling it at that price decide on promotional things to create awareness about the product look at the competition to see what they are doing with pricing, features etc.

Slide 9: 

Introduction “Marketing is concerned with anticipating customer demand and directing the flow of goods from producers to consumers” Marketing has to do with matching producer’s outputs to consumer’s activities (wants, needs)

Slide 10: 

Serving the needs of customers is what business should be all about … Marketing is the business function that interprets customer needs to the rest of the organization. Marketing should begin with the customer needs - NOT with the production process. Mktg should anticipate needs.

Slide 11: 

Process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individuals and organizational objectives. Marketing - the formal definition This Formal Definition is used by other texts

Slide 12: 

Process of ……………. Planning and executing N = carrying out actions the conception, = (creation of the idea) pricing, promotion, and distribution of “STUFF” stuff = ideas, goods, and services to create exchanges = customer gets the product, mfg. gets the $$ that satisfy J people people = individuals and organizational objectives. Marketing - the formal definition This Formal Definition is used by other texts

Why should we know about Mktg : 

Why should we know about Mktg Cause,,,,,,,,,,,,,,,,,, it effects a lot of what you do In some cases, the COST of marketing a product makes it very expensive, soooooo, if you know where to buy it without the marketing costs included (ie. Wholesale) you can save a lot of money Page 8

Why should we know about Mktg : 

Why should we know about Mktg Also, Cause,,,,,,,,,,,,,,,,,, marketing people in a company bring in the money - so their jobs are important, so they get paid a lot. If you get involved in the marketing side, you are being involved in the INCOME side of the company and your job is very critical (ie. - hard to ever fire you or lay you off)

The Importance of Marketing : 

The Importance of Marketing Why study Marketing - ‘cause you can get a JOB in Marketing !! Canada is a very multi-cultural country We can buy products from all over the world Selling new products to Canadians requires new marketing approaches - THEREFORE there will be many new job opportunities

The Importance of Marketing : 

The Importance of Marketing Marketing is a core business discipline The study of marketing is important to the basics of running a business, big or small When you buy a product - the cost of marketing amounts to 40 ~ 60% of the totaleg. If we buy shoes for $70, $35 of that 70 has been spent on marketing (including advertising, market research, development etc.)

The Importance of Marketing : 

The Importance of Marketing Getting a JOB in Marketing !! Personal selling Advertising Package Design Transportation Storage Marketing Research Product Development Wholesaling Retailing

The Importance of Marketing : 

The Importance of Marketing Importance to Companies When you work in the marketing department of a company you are part of LINE personnel LINE personnel are always more critical than STAFF personnel because LINE personnel “bring in the money” - therefore your job is revenue earning, not revenue spending

Why should we know about Mktg : 

Why should we know about Mktg You can get to be C.E.O. and Chairman of the Board “Marketing is often the route to the top” Almost always the C.E.O. comes from the V.P. Marketing, not V.P. Human Resources or V.P. Government Relations

The Importance of Marketing : 

The Importance of Marketing Getting a JOB in Marketing !! In addition, many people working with NPO’s also do marketing Promoting political parties Cultural groups Religious organizations Civic organizations eg. Kiwanas, Shriners Charitable organizations eg. Red Cross, Salvation Army

Marketing : 

Marketing Marketing is something companies do, and it is also a characteristic of our society “It is both a set of activities performed by organizations, and a social process”

Slide 22: 

Micro Marketing Macro Marketing Page 9

Slide 23: 

Micro Marketing Macro Marketing Page9 Micro - marketing for a company Macro - the whole economy

Slide 24: 

Micro Marketing Macro Marketing Micro - marketing for a company, things you do to accomplish the organizations objectives (companies and NPO’s) Macro - the whole economy and its flow of goods and services from producers to consumers Page 10

Slide 25: 

Micro Marketing Macro Marketing Micro - Its not just selling stuff, but also looking at what the customers want Macro - Looking at how everybody in the country can have access to things they need. Government has to make sure everybody has fair access. Page 10

Slide 26: 

Micro Marketing Macro Marketing Micro Mktg is the main focus of this text

Micro-Macro Dilemma : 

Micro-Macro Dilemma Government has to step in cause not everything would be produced fairly by companies - so regulation needed eg. It would be cheaper to make cars without airbags and seatbelts - but gov’t insists they must - so it has to be don

Micro-Macro Dilemma : 

Micro-Macro Dilemma Government has to step in cause not everything would be produced fairly by companies - so regulation needed eg #2. It would be cheaper to make beer cans from raw material cause the price of mineral ore is low - but the gov’t insists a certain % must be recycled to reduce waste and pollution

Slide 29: 

The 8 Marketing Functions Buying Selling Transporting Storing Grading Financing Risk Taking Market Information Page 26

Slide 30: 

The 8 Marketing Functions These 8 functions are the same in several textbooks, and important for you to learn

Slide 31: 

The Marketing Functions Buying Buying Selling Selling Transporting Transportation Storing Storage Grading Standardization Financing Finance (Credit) Risk Taking Risk Bearing Information Collection Research Beckman, Kurtz & Boone Foundations of Marketing 6th Edition as used in MKTG 116 Nickels, McHugh & Berman Understanding Canadian Business 2nd Edition as used in GNED 119

WHO does the marketing functions ? : 

WHO does the marketing functions ? From a Macro-point of view Centrally planned economy (communism)- its done mostly by the government Market-direct economy (capitalism)- its done by various companies, middlemen, brokers etc. Page 27

Slide 33: 

Innovation Innovation is encouraged by a market-directed economy (capitalism) because people who come up with new ideas are free to try and market them and make a fortune. In a communist country, government has strict controls on the “means of production” so there is a limit to what people can manufacture. In a capitalist economy, people are always trying think of new ways to satisfy un-met needs, and, this encourage new thinking Page 29

Advocacy Advertising : 

Advocacy Advertising You are not trying to sell a product, you are trying to get people to believe in something, or behave in a certain wayeg.- Don’t drink and drive- Canadian Cancer Society- recycle- use the TTC, save gas

Slide 35: 

ETHICS One of the big complaints about marketing is that ppl act unethical in order to make a sale. Sometimes it is easy to forget that morals are based on your own cultural standards and in different cultures, people have different opinions about what is ethical. Eg. Bribery is perfectly acceptable in some parts of Asia and Latin America, but unacceptable in USA and Canada page 22

Marketing Concept - Social Responsibility : 

Marketing Concept - Social Responsibility - “improve positive effects on Society and reduce negative effects…” - environmental problems - social responsibility conflicts with profit objective(raises ?, is mktg concept desirable) Ethics

Marketing Concept - Social Responsibility : 

Marketing Concept - Social Responsibility -? Of social responsibility cutting into profits - some companies have been very successful at dealing with this eg. BODY SHOP - they realize it is a way to endear themselves to trendy customers Ethics

Marketing Concept - Social Responsibility : 

Marketing Concept - Social Responsibility -? What if it cuts into profits Answer - increasing quality may cost more in production, but you may make this money back in increased sales which come about as the customers realize you have a very good quality product - this will reduce the advertising costs and customer service/warranty costs and ensure customer satisfaction re: brand loyalty Ethics

Marketing Concept - Social Responsibility : 

Marketing Concept - Social Responsibility Written Codes of Ethics page 25 AMA Ethics