OVERVIEW OF MARKETING

2. OVERVIEW OF MARKETING • What is the role of marketing in organizations? • How do marketers create value for a product or service? • Why is marketing important both within and outside the firm?

3. Building Value Online How do these companies provide value?

4. What is Marketing? Marketing is an organizational function and a set of processes for creating, capturing, communicating, and deliveringvalueto customers and for managing customer relationships in ways that benefit the organization and its stakeholders.

5. What is Marketing?

6. Marketing is about Satisfying Customer Needs and Wants • What group is Crest targeting with this ad? • What other benefits of toothpaste might Crest advertise? • What groups might these benefits appeal to?

7. Marketing Entails an Exchange Goods/Services Producers (Sellers)

8. Marketing Requires Product, Price, Place and Promotion Decisions

9. Product: Creating Value • The fundamental purpose of Marketing is to create value by developing a variety of offerings, including goods, services, and ideas, to satisfy customer needs.

10. Price: Capturing Value • Price is everything a buyer gives up (money, time, energy) in exchange for the product • The key to determining prices is to figure out how much customers are willing to pay and assess whether a profit can be made at that point

11. Place: Delivering the Value Proposition • Place, or supply chain management, describes all activities necessary to get the product to the right customer when the customer wants it • Where would you find this product in the store?

12. Superior Service Ritz-Carlton

13. Promotion: Communicating Value • Promotion is communication by a marketer that informs, persuades, and reminds potential buyers about a product or service to influence their opinions or elicit a response

14. Marketing Can be Performed by Individuals and Organizations ETSY Website

15. Marketing Impacts Stakeholders

16. Marketing Helps Create Value

17. Value-Based Marketing “Pure Dark Chocolate Light Exquisite Cookie”

18. What is the definition of marketing? Marketing is about satisfying ______ and ______ . What are the four components of the marketing mix? Who can perform marketing? What are the various eras of marketing? Check Yourself

19. Value Driven Companies • Share information across their organization • Balance customer’s benefits and costs • Build relationships with customers

20. Value Based Marketing

21. Target is Value Driven Target Commercial

22. Check Yourself What are the two methods for increasing value? How can a firm become value driven?

23. Marketing and SocietyFocusing on many factors

24. Marketing Enriches Society Oprah's Angel Network

25. Check Yourself List five factors that emphasize the importance of marketing. A firm doing the right thing emphasizes the importance of marketing to society

26. Ben & Jerry’s Product Mission To make, distribute, and sell the finest quality all natural ice cream and euphoric concoctions with a continued commitment to incorporating wholesome natural ingredients and promoting business practices that respect the Earth and the Environment Ben & Jerry’s Website Ben & Jerry’s Commercial

27. Glossary Exchange is the trade of things of value between the buyer and the seller so that each is better off as a result. Return to slide

28. Glossary Goods are items that you can physically touch. Return to slide

29. Glossary Ideas include thoughts, opinions, and philosophies, and intellectual concepts which can be marketed. Return to slide

30. Glossary A supply chain is the group of firms that make and deliver a given set of goods and services. Return to slide

31. Glossary Value reflects the relationship of benefits to costs. Return to slide