Marketing Overview

1. Fuqua2Duke Marketing Overview Questions? Contact Chris Vadnais at ctv@duke.edu or Rachel Luther at rgl@duke.edu What is Marketing? • An essential component of every business • Intermediary function between product development and sales • Creating, managing, and enhancing a brand Overview • Essence: • To search for the most productive way to build the long-term profitability of a product • Methodology: • 4 P’s: Product, pricing, promotion, & place. • 3 C’s: Consumer, competition, & company. • Traditional Brand Marketing • Manage introduction and phase-outs of different products • Develop strategies for ongoing support of older products • Differentiate brands from those of the rapidly proliferating competition • High Tech Marketing • Faster moving industry • Shorter product life cycle • Often less structured • Services Marketing • Marketing of intangibles • Not a traditional “product” being sold Required Skills • Creative • Developing ideas that capitalize on consumer needs • Quantitative/Analytical Skills • Developing forecasts, analyzing consumer sales data, etc. • Team Oriented • Work with all the “spokes” on the wheel • Consumer Savvy • Know what the consumer wants before they do