Course Introduction - Marketing Concept - Part I

8/8/2019 Course Introduction - Marketing Concept - Part I

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Course IntroductionMarketing Concept


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Session 1 & 2: Agenda

IntroductionYour instructorYou

Course outline

Warm-up Exercise

Marketing Concept

Group Marketing Project Introduction

Recap

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Jikyeong Kang

Academic Background BSc, Hanyang University in Seoul, Korea MSc, Colorado State University, U.S.A.

PhD, University of Minnesota , U.S.A.

Academic Experience Assistant Professor, University of Wisconsin-Madison, USA

1991 2000 Senior Lecturer, Manchester Business School, UK

2000 2003

Professor of Marketing, Manchester Business School, UK2004 (currently on Research Leave)

Visiting Research Professor of Marketing, IE Business School, Spain

2008 Also taught at CEIBS (Shanghai); ESSEC (Paris); Rotterdam School of

Management Erasmus University; and HEC (Montreal) and several others

Consulting Work including sanofi-aventis, Adelphi International, Royal Bank of Scotland,

Hilti, Littlewoods, Sears, and many others3


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You: What Does MBA Stand For?

Mediocre But Arrogant

Mighty Big Attitude

Me Before Anyone

Maha Bigdail Aadmi

My Bogus Achievement

Master of Bullshit Artist Managers By Accident

Many Brief Affairs

Massive Bank Account

Married But Alone

Married But Available

Fedex and MBA

Miracles Being Achieved4
http://../My%20Videos/RealPlayer%20Downloads/Fedex%20-%20even%20for%20MBA%20graduates.flvhttp://../My%20Videos/RealPlayer%20Downloads/Fedex%20-%20even%20for%20MBA%20graduates.flvhttp://../My%20Videos/RealPlayer%20Downloads/Fedex%20-%20even%20for%20MBA%20graduates.flvhttp://../My%20Videos/RealPlayer%20Downloads/Fedex%20-%20even%20for%20MBA%20graduates.flv


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Course Outline

Housekeeping rules

Case readings (Be aware of the penalty points!)

Assessment

The most effective learning environments: Activation of prior experience

Demonstration of skills

Application of skills

Integration of skills into real-world activities

Case analyses

Group marketing projectCourse schedule

Please read the course outline!

Ask any questions at the beginning of the next session. 5


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Characteristic 20th Century 21st Century

Organization The Pyramid The Web or NetworkFocus Internal External

Style Structured Flexible

Source of strength Stability Change

Structure Self-sufficiency Interdependencies

Resources Atom - Physical assets Bits - Information

Operations Vertical integration Virtual integration

Products Mass production Mass customization

Reach Domestic Global

Financials Quarterly Real-time

Inventories Months Hours

Strategy Top-down Bottom-up

Leadership Dogmatic Inspirational

Improvements Incremental Revolutionary

What a Difference a Century Can Make:Contrasting View of the Corporation


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Market Trends

Customer expectations

More competition

Evolution of technology

Globalization of markets

Product maturationEvolution of distribution structures

Government involvement

New communication media

Greening of markets

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Whats Out; Whats In

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Whats Out Whats InThe Mall Thrift Stores

Harley-Davidson Scooters

Disney World Public Parks

Starbucks Home-Brewed

Pricey Wine 2-Buck Chuck

Nordstrom Wal-Mart

Organic Food Frugality

Cable TV Internet TV

Bar Hopping Pre-Gaming

Office Parties BYOB

Nannies Grannies

Stock Market Mattress

Nov. 21, 2008 aol.com


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Marketing Concerns

Increasing price competition

Increasing importance of customer service

Improving product quality

New market segments / sectors

Power of the distribution chainsHigh rate of innovation

Increasing customer demands

Environmental concerns

Government involvement

European integration

Increased promotional costs

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Required Responses

Improve product/service quality

Develop new products

Improve customer service

Competitor analysis

Price competitionDevelop new segments

Brand/image differentiation

Improve distribution channels

More effective promotion

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Top Five: Then and Now

Of the leading PC makers the year Dellwas founded, only IBM and Apple are

still players.

HP

18%

Dell

14%

Acer

9%Levono

8%

Toshiba

4%

Apple

2%

Others

46%

2007

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The Difference

Return on Capital

Time

Stability

x x x

x x x

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Right

Things

Things

Right

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Ten Deadly Marketing Sins (Kotler, 2004)

Isnt sufficiently market focused and customer driven

Doesnt understand its target customers

Doesnt define and monitor its competitors

Mismanage its relationships with stakeholders

Isnt good at finding new opportunitiesHas a deficient marketing planning process

Needs to improve product and service policies

Makes weak brand-building and communication efforts

Isnt well organized to carry out effective and efficientmarketing

Has not made maximum use of technology

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Marketing Concept


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What Is Marketing?

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Defining Marketing

Marketing is a societal process by which individuals andgroups obtain what they need and want through creating,offering, and freely exchanging products and services ofvalue with others (Kotler).

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Documents

Course Introduction - Marketing Concept - Part I