1. The Value of Marketing
Marketing is the adaptive process, in society and organizations, of collaborating to communicate, create, provide, and sustain value for customers through exchange relationships while meeting the needs of diverse stakeholders.

2. Marketers do it to satisfy needs…
Most successful firms practice the marketing concept
first identify consumer needs and then provide products that satisfy those needs
A need is the difference between a consumer’s actual state and some ideal or desired state
physical needs
psychological needs

3. Aveeno
Aveeno satisfies a need by providing blemish-free skin

4. Needs versus Wants
A need is the difference between the actual and ideal states of being
A want is a desire for a particular product used to satisfy that need
wants are culturally and socially influenced

5. Crest Whitestrips
Crest Whitestrips provide a benefit many consumers want today: whiter teeth

6. Benefits, Demand, and Markets
A product delivers a benefit when it satisfies a need or want
Desire coupled with the resources to satisfy a want results in demand
A market consists of all the consumers with that need and the resources to make the exchange

7. A marketplace can take many forms

8. Marketing Creates Utility
Form
Place
Time
Possession

9. Exchange Relationships
Exchange - the heart of every marketing act
An exchange occurs when something is obtained for something else in return
Value is in the eye of the beholder
Marketers must create an attractive value proposition

10. Pop Culture and Myths Pop Culture Marketing and Myths
Music, movies, sports, books, celebrities
Marketers provide the materials that become part of this culture
Marketing and Myths
Marketing messages communicate stories containing symbolic elements that may express shared emotions and ideas of a culture

11. What Can Be Marketed? Consumer Goods and Services
Business-to-Business Goods and Services
Not-for-Profit Marketing
Idea, Place, and People Marketing

12. Non-profit organizations like zoos need to market themselves too!
Oregon Zoo
Non-profit organizations like zoos need to market themselves too!

13. The Value Proposition Making Marketing Value Decisions
Understanding Consumers’ Value Needs
Creating the Value Proposition
Communicating the Value Proposition
Delivering the Value Proposition

14. Providing Value to Stakeholders
Competitive Advantage
Distinctive Competency
Differential Benefit
Value Chain

15. Value Chain Activities
Inbound logistics
Operations
Outbound logistics
Marketing and sales
Service

16. A Value Chain for HP

17. Value from Society’s Perspective
Some feel that marketers manipulate consumers, while others feel people should be responsible for their own choices.

18. Marketing as a Process Marketing planning
What product benefits will our customers be looking for in 3-5 years?
What capabilities does our firm have that set it apart from the competition?
What additional customer groups might provide important segments for us in the future?
What legal issues may affect our business?

19. Under Armour
Under Armour performance apparel is carefully laying plans to appeal to a people who engage in physical activities

20. Target Markets
Mass Market - all possible customers regardless of differences in their specific needs and wants
developing a basic product and a single strategy for everyone
Market segments - distinct groups of customers within a larger market
A target market - an organization’s chosen segment

21. Positioning the Product
Plan how the target market should perceive the product in comparison to competitors’ brands - the market position
What is the market position of Ford? BMW?
What is the position of Daewoo? Hyundai?

22. The Mini positions itself as a different kind of car

23. The Marketing Mix

24. The Evolution of Marketing
Production Era
Selling Era
Consumer Orientation
New Era Orientation

25. New Era Orientation Customer relationship management Social benefits
Accountability
Marketing metrics

26. Oris
Oris gives back to the community by donating money to disabled people who want to learn how to fly an airplane