Intro to Marketing Concepts and Strategies Marketing 3331 to Marketing... · 2019-05-18 · Marketing 3331. Intro to Marketing Concepts and Strategies . ... Diet Coke Launches . Full

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Marketing 3331 Intro to Marketing Concepts and Strategies


Hello! I am Musanna Al-Muntasir I am here because I am passionate about marketing. You can email me at [email protected].

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IN MARKETING NEWS TODAY

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IKEA actually wants you to pee on their ad. Great news, Ikea shoppers! Thanks to a new print ad you can find out if you’re pregnant and discover a discount on a crib. S ource: https:/ / www.huffingtonpost.com/ entry/ ikea- wants- pregnant- women- to- pee- on- this- ad- for- a-discount- on- a-crib_us_5a561c10e4b0b117f881206a

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Diet Coke Launches Full Brand Restage. An updated look, new packaging, the debut of four new flavors and a new campaign; modernizing Diet Coke for a new generation of drinkers. Source: http:/ / www.coca-colacompany.com/ stories/ diet-coke-relaunch

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Creating customer relationships and value through Marketing You start by bringing the attention of your target audience over a key concept using icons or illustrations

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What does marketing do? • Discover the needs and wants of customers • Satisfy those needs and wants

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What influences marketing actions? ● The Organization Itself and Its Departments ● Society ● Environmental Forces

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What influences marketing actions?

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For marketing to occur requirements need to be met

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● Two + parties with unsatisfied needs

● A desire and ability to be satisfied

● A way for the parties to communicate

● Something to exchange


Discovering Consumer Needs • Consumers May Not Know or Cannot Describe What They Need or

Want • 94% of 40,000 new products fail

• Most new products fail • The challenge lies with focusing on consumer benefits and

learning from past mistakes.

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Needs vs Wants • Does Marketing persuade people to buy the “Wrong” things?

• 94% of 40,000 new products fail • What is a market?

• A market exists when people have the desire and economic ability to buy an offering.

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Find consumer needs through market research.

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What is a target market? • Target markets are groups of customers targeted by marketing

programs

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The Marketing Mix The Four Ps

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1 Product Price

2 Place

3 Promotion

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CONTROLLABLE FACTORS

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Customer Value Proposition Benefits promised to customers to satisfy their need.

Things not in your control

Environmental Forces ● Social ● Economic ● Technological ● Competitive ● Regulatory

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Quotations are commonly printed as a means of

inspiration and to invoke philosophical thoughts from the

reader.

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Customer value strategies

Best Price Best Service Best Product

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Customer Value Benefits to the buyer from their products and services


What is US Bank’s value strategy in their ad?

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Relationship Marketing • It’s easy to understand but hard to do! • Your requirements to get started:

• A well established and researched marketing program • Target of specific market segments

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Discovering and satisfying student needs. Post-It® Notes + Felt-Tip Markers = Post-It® Flag Pen

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How did Post-It® target college students and offices?

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They went to the next level.

Post-It® Notes + Felt-Tip Markers + Highlighters = Post-It® Flag Highlighter

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Marketing Concept • It’s the idea that organizations satisfy the customers’ needs while

achieving organization’s goals

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America’s hottest retailer

● Set low prices ● Offered unusual products ● Employee engagement

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Market Orientation Focusing efforts to collect and use information to create customer value.


Customer Relationship Management • Identify and develop offerings for buyers • The customer experience

• What firms think they can offer customers • W hat customers say they receive

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Who markets? Everyone! What is marketed? Everything! ● Products (goods) – Physical items ● Ideas – Intangible (concepts/ causes) ● Services – Intangible

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Who benefits from what is bought and used?

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Society as a whole

Concumers who buy

Organizations that sell

Businesses that

buy


How do consumers benefit? Form Utility ● Production of the production or service Place Utility ● Having an offering where consumers are located Time Utility ● Having it available when needed Possession Utility ● Value of making the purchase easy

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Documents

Intro to Marketing Concepts and Strategies Marketing 3331 to Marketing... · 2019-05-18 · Marketing 3331. Intro to Marketing Concepts and Strategies . ... Diet Coke Launches . Full