1. Welcome to Introduction to Marketing!
C – Professor Eric Greenleaf
Fall 2008

2. Today’s Agenda Marketing successes and failures What is marketing?
How is marketing different from other business skills?
Course details and your responsibilities

3. Most business successes or failures are caused by successful or failed marketing

4. What marketing successes and failures can you think of
What marketing successes and failures can you think of? Why did they succeed or fail?

5. What is marketing?

6. What is marketing at Apple?

7. What is marketing? 1) Marketing strategy
Marketing Strategy - What is our overall plan for our product?
Consumer behavior
Segmentation
Positioning
Economic value of customers
Profit: Crunch the numbers

8. Don’t forget marketing research
“Eyes and ears” of the firm
Keeps you in touch with
Customers
Competitors
Trends in the marketplace
Be proactive, not reactive

9. What is marketing? 2) The marketing mix – “Four Ps”
Marketing Mix – What actions will we use in the marketplace to implement our strategy?
Pricing
Product
Partnerships
Promotion (Communication)

10. Marketing mix is more than sum of its parts
Balance
Don’t put too much emphasis on any single activity in the marketing mix
Coordinate
Each part of marketing mix must work well with other parts –

11. What is marketing’s role in a firm?
One opinion on marketing’s role:
“If we want to know what a business is, we have to start with its purpose… There is one valid definition of business purpose: to create and keep a customer.”
Peter Drucker, a widely-read business school professor and former NYU faculty member ( ).

12. Most successful concept of marketing
Effective marketing strategy satisfies consumer needs and creates consumer value while allowing the firm to achieve its objectives.
Concept we’ll study in this class
Let’s take a closer look at this concept

13. Satisfy customer needs
Define product or service in terms of customer needs
= ?

14. What customer needs does this product satisfy?
= ?

15. React to changing customer needs
New York Times –

16. React to changing customer needs
New York Times

17. Try to anticipate consumer needs

18. Create consumer value Value = Utility - price
Satisfy needs at a price that consumers are willing to pay

19. Allow firm to achieve objectives
Expensive to satisfy consumer needs and provide consumer value
Firm must achieve its objectives
Marketing should be a profitable investment
Firm must understand and predict the bottom-line impact of marketing actions

20. Successful marketing creates valuable assets
NYT
7/3/08 20

21. How can Google make money from YouTube?
New York Times
7.9.08

22. Don’t overspend on marketing
Source: “Satellite radio Howard's way
Jan 12th 2006, The Economist

23. What marketing is not – Three outdated concepts of marketing

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

25. What marketing is not – Three concepts of marketing to avoid
Technology and production driven
Consumers care about needs and value, not technology
vs.

26. What marketing is not – Three concepts of marketing to avoid
Selling driven

27. What marketing is not – Three concepts of marketing to avoid
Marketing driven
All three outdated concepts create a marketing mix that is out of balance

28. How is marketing different from other business skills?
Combines quantitative and qualitative analysis
Both kinds of information important for creating best strategy and mix
Use numbers to justify your qualitative reasoning
We’ll examine Quantitative Analysis in Marketing early in the course

29. How is marketing different from other business skills?
Marketing forces business to confront uncertainty in environment
Consumer tastes
Competition
Economic environment
Legal and Regulatory

30. What do consumers want in a beverage?
WSJ
6/30/08 30

31. Does anyone need “land line” phones?
NYT
7/23/08 31

32. Is your kitchen counter radioactive?
NYT 32

33. Course details and your responsibilities
Please read the syllabus carefully
Course calendar
Detailed description of assignments
Course policies and your responsibilities
Includes class honor code

34. Course details and your responsibilities
Class Participation (15% of grade)
You are a very important part of course
We have very different backgrounds and experience
We learn a lot from each other
Make your class participation valuable
Everyone wants to know who you are
Please use name card every day: big, first name and last initial
Seating fixed from next class

35. Course details and your responsibilities
Class Participation (15% of grade)
I would like to know more about you
Your first assignment:
Complete personal information form on back of syllabus
Include picture of yourself
Hand in at the next class

36. Course details and your responsibilities
Class Etiquette
Behave as in a business meeting
But have some fun
Let me know if you will miss class
Please arrive on time
Leave class only if absolutely necessary
Listen carefully to your classmates
Please, no disruptive side conversations

37. Course details and your responsibilities
Class Etiquette
Create a challenging but respectful environment for expressing ideas
Participate meaningfully, and allow others to participate
Stay with the topic we are discussing
Class time valuable

38. Course details and your responsibilities
Electronic Etiquette
No laptops
Turn off
Cell phones
“Blackberries”
MP3 Players
Any other unapproved electronic devices
No audio or video recording without permission

39. You are expected to follow the Stern Honor Code
Please read it carefully – URL in syllabus
Convincing evidence of cheating will be treated harshly
Cases may be turned over to Stern Judiciary Committee
Cheating cases pursued even if person has finished course or graduated
Degrees have been revoked
Submit assignments to TurnItIn online
At students’ request – protects honest students

40. Course details and your responsibilities
Text:
R. Kerin, S. Hartley & W. Rudelius, Marketing, 9th edition, Irwin/McGraw-Hill.
Sets important foundation for class discussion
Class will be conducted under assumption you have done assigned reading for that day
Hardcover, looseleaf, or eBook

41. Course details and your responsibilities
Articles from business and popular press
Show how concepts from class are used in the real world
You can link to these using Bobst electronic databases
e.g. NYU Virtual Business Library

42. Course details and your responsibilities
Marketing cases:
Mediquip
Brita – written group case
James Patterson
Z Corporation
MontGras Vineyards – written individual case

43. Course details and your responsibilities
Marketing cases:
Apply what you learn to an actual firm
Variety of products and industries
See complexities of marketing problem
Get involved in decision making
Cases have no single “right answer”
You should be able to justify your analysis
Case study questions in syllabus
Helps focus class discussion
Syllabus has advice on preparing a case

44. Course details and your responsibilities
Major Assignments:
Quantitative marketing assignment 5%
Two midterm quizzes 25%
Brita group case %
MontGras individual case 12.5%
Market research assignment 5%
Final exam 25%

45. Course details and your responsibilities
Class materials
All assignments and slides on Blackboard
Will provide printed copies in class
Powerpoint slides
Help organize class material
Slides are not a substitute for your own
class notes
Will not have Powerpoint for all classes
If you miss a class, get notes from at least two classmates

46. Teaching Fellows – They are here to help you
Shevon Newman
Christine Wang
Brady Warner
Each will have office hours twice a week in Marketing Dept., 8th floor Tisch

47. Next Class – Consumer Behavior I
How do consumers make decisions?
How can firms influence consumer decisions?
How do consumer decisions differ?
We’ll look at the consumer decision making process