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Principles of Marketing

Principles of Marketing. MKTG 363 Prof. Adriana M. Bóveda-Lambie. Agenda for Today. Introductions Required Work Policies What is Marketing. About Me. BS in Marketing, MA in Advertising, Ph.D. in Marketing 9 years corporate experience Regional Acct. Executive (Y&R Latam , IMS)

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Principles of Marketing

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  1. Principles of Marketing MKTG 363 Prof. Adriana M. Bóveda-Lambie

  2. Agenda for Today • Introductions • Required Work • Policies • What is Marketing

  3. About Me • BS in Marketing, MA in Advertising, Ph.D. in Marketing • 9 years corporate experience • Regional Acct. Executive (Y&R Latam, IMS) • Direct Marketing, CRM & Customer Service Senior Manager (Americatel) • Born and raised in PR; bilingual • Football and baseball fan • Research: Co-creation, Social Media, Social Branding • Classes: Principles of Marketing, Advertising and Promotion Management, Social Branding & Internet Marketing

  4. About You • Name • Hometown • Major • Something interesting about you

  5. Coursework • Five Individual Written Assignments • SWOT Analysis • Industry Analysis • Segmentation Analysis • Promotion Analysis • Case Analysis • Article Summary • Group Project – Marketing Plan

  6. Policies • Attendance • No cellphones • No laptops • Email turnaround 24hrs • No late assignments • No email assignments • All assignments in pdf in dropbox

  7. Class Website • Classroom.scb.rit.edu/aboveda • Under Teaching Tab select Principles of Marketing • Syllabus • Grading Forms • Class Slides

  8. What is Marketing?

  9. Marketing is all around us • Not just business • Personal life too • Marketing is about experiences

  10. History of Marketing • Production Era • Sales Era • Marketing concept • Social Marketing • Value based Marketing

  11. Marketing tells a story • The customer chooses or not to believe it • Marketing is about creating an experience • So the customer comes back • So it becomes unique & different from competition • And only YOU can offer it

  12. Marketing is about VALUE • Creating value • Capturing value • Delivering value • Communicating value • Product • Price • Place • Promotion Marketing Mix

  13. Marketing today is about VALUE • Value for the customer • Value for the firm Satisfaction of wants and needs Cost effective Delivers product promise Resistance to competition Price insensitive customer Brand loyalty CRM

  14. Value = benefits vs costs • Consumers weigh benefits of acquiring and using products versus all the costs associated with its purchase • Examples of Value Driven companies – how do they offer value? Other examples?

  15. Value = Relationships = CRM • Building relationships with customers • Brand engagement • Brand Content • Unique experiences

  16. “old” CRM ways • Customer touchpoints • POS • Inbound/Outbound communications • Phone • Email • Mail

  17. Today’s CRM • Social Branding • Search Engine Marketing • Mobile Marketing • Location based marketing Customer led brand engagement

  18. Shift to customer led marketing • Customer more and more in control of offering, place and communication • Co-creation/customization • 3D Printing • Online/mobile shopping • Social/Mobile Branding • Company still controls price BUT customer can get around it • Ebay • Overstock • Amazon

  19. Marketing is Dynamic • Constantly changing • Never static • If you stay static you lose

  20. Current Trends in Marketing • Social Branding • Mobile Marketing • Bluetooth • Interactive • Location-based • Customization • 3D Printing

  21. Summary • Marketing is • Creating an offering • Delivering it to the customer • Telling the customer a story about it • Getting something in return • Product • Place • Promotion • Price Marketing Mix

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