1. MGT 6450 Marketing Web Main Menu Syllabus Schedule & Outline
Class
News
Overview of marketing
Small group formation & discussion of products/services via product life cycle
Next week: market segmentation

2. Marketing News Generational Marketing Social Marketing News
Advertising Age
AMA Marketing News
Direct Marketing News
Marketing Today

3. "Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, services, organizations, and events to create and maintain relationships that will satisfy individual and organizational objectives."
“The societal marketing concept holds that the organization's task is to determine the needs, wants, and interests of target markets and to deliver the desired satisfactions more effectively and efficiently than competitors, in a way that preserves or enhances the consumer's and the society's well-being. “

4. How is marketing done in your organization?

5. Discussion Questions
How is marketing currently conducted in your organization? What role does a marketing department have in helping form organizational strategy; how well connected are they with other departments and functions in the organization; how is market information gathered, analyzed and used?
What are the “change drivers” that have propelled marketing to this position in organizations? Why is strategic marketing so crucial in today's marketplace?
In your organization, where does marketing fit with strategic planning?
How aware are employees of the marketing concept and efforts of the marketing department (or whomever does it)?
Examine your organization's mission statement and define it from product/service perspective as well as marketing perspective (who are the customers & what needs are you committed to satisfying?)
Using the Product Life Cycle, place your product/service line along the continuum (Portfolio methods)

6. Strategic Considerations

7. Did you Know…?

8. Competition ! Worker Impact lifelong learning adaptability/flexibility
networking
self-loyalty
Change Drivers
environment
globalism
demographics
technology
information
economics
politics
complexity
Organizational Response:
paradigm shift
new psychological contract
decentralizing
downsizing
telecommuting
virtual organization
reengineering
teamwork
Learning Organization
mergers/acquisitions
strategic alliances
target marketing
out-sourcing
temps
innovation
Competition !
Demands
timeliness (JIT)
efficiency
speed
quality
customized
rate of change

9. Effects of Change Drivers
Less expensive, more widely available communications, transactions, information, and production technologies such as:
Internet based communication and commerce
Data mining
Pattern recognition algorithms (neural networks)
Computer integrated design
Rapid prototyping
Simulation testing of designs and prototypes
Real time data tracking
Nanotechnology
Flexible manufacturing technology
Enterprise wide software
Competitive environment:
More informed customers
More evenly distributed technological capabilities among competitors
More closely linked suppliers
Easier entry for new competitors
World wide market for supplies and workers
Business processes:
More knowledge about customer buying patterns
Improved forecasting ability
Improved production scheduling and tracking
More rapid production process design
Integration:
Coordination of geographically dispersed operations
Coordination of culturally diverse workforce
Coordination of logistics and information with dispersed networks of customer and suppliers
Culturally, ethnically diverse workforce that is more mobile:
Political and economic conditions creating more opportunities for markets and supplies worldwide
Aging workforce worldwide
Language and culture differences
Workforce:
More use of temporary workers
Competition for skilled and knowledge workers
Management across international cultures
Difficulty in molding organizational cultures

11. Traditional Strategy Model
Marketing

13. Information from Market Research
SWOT or TOWS Analysis for Strategy
Information from Market Research

15. What’s gone wrong with strategy?
75% of executive teams do not have a clear customer propositions (idea of the mix that appeals to the target market)
85% of management teams spend less than one hour per month discussing strategy
60% of organizations don't link strategy and budgeting
92% of organizations don't report on strategic lead indicators
Less than 5% of an organization's workforce understands its strategy
Only 51% of senior managers, 21% of middle managers, and 7% of line employees have personal goals linked with strategy
Organizations find that up to 25% of strategy measures change each year
The failure rate of strategies is between 70-90%, mainly due to poor implementation

16. A little bit o’ marketing history

17. Eras of Marketing
Next ?
Relationship/Partnering Era (1990-): Short term financial focus, downsizing, globalization, reengineering trends. Publish or perish pressure on research. Concern, trust, and investment in collaborative relationships with long term customers and competitors (e.g., Saturn owner parties, Sam’s Club memberships, etc.). Specialized interest areas; sophisticated multivariate segmentation; wide application [Problem: still short term, fragmented research, customer manipulation]
Marketing Era (1950s-1980s): Mass market boom! Use of behavioral and quantitative sciences. Customer is King! Find (create) a need and fill it; (market segmentation & targeting) satisfy needs! [problem: too short term & costly]
Sales Era ( s): Marketing principles. Good advertising and sales will overcome consumer resistance” (Brand image differentiation); Marketing associations & journals [problem: broad advertising not cost-effective]
Production Era ( ): “a good product sells itself”; offer more products! Build it and they will come! [problem: unsold inventory]. First courses with “marketing” title. Focus on distribution.
Pre-Marketing Era ( ): “I got it, you want it?”

18. Pre-Marketing Era ( )
“I got it, you want it?”
Cottage industries making narrow specialties with little variation
Often family businesses
Generally for local trade
Word of mouth promotion
No distinguishing field of study
Example: China 1986 basket and wood shipping containers

19. Production Era ( )
“A good product sells itself” (unsold inventory)
Offer more products!
Focus on distribution
First courses with “marketing” title
Problem– unsold inventory

20. Sales Era ( s)
Development of generally accepted “marketing principles”
Good advertising and sales will overcome consumer resistance”
Brand image differentiation
Marketing associations & journals (AMA, J. of Retailing, J. of Marketing)
Problem— broad advertising not cost-effective

21. Marketing Era (1950s-1980s)
Mass market boom!
Use of behavioral and quantitative sciences
Customer is King!
Find (create) a need and fill it
Market segmentation & targeting, satisfy needs! (high sales, low prices)
Problem— too short term & costly

22. Relationship/Partnering Era (1990-)
Short term financial focus, downsizing, globalization, reengineering trends.
Concern, trust, and investment in collaborative relationships with long term customers and competitors (e.g., Saturn owner parties, Sam’s Club memberships, etc.).
Publish or perish pressure on academic research.
Specialized interest areas; sophisticated multivariate segmentation; wide application
Problem: still short term, fragmented research, customer manipulation
Hummer Party
Sam’s Club

23. Social Media Marketing (2005-)
Widespread availability of technology enables lower cost channels
Online interactivity provides for promotion and information gathering
Growth of social networking makes for ubiquitous advertising opportunities
Search specification allows for targeted advertising
Viral marketing spread through the web via web, , blogs, video, and other mobile media
Problem— too many channels?

24. People connected to share
Social networks as an operating system
Every experience can now be social
Personalized and accurate content
Communities define future products & services
Where to from here?