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Lecture fundamentals of marketing - Lecture 1: Marketing: Creating and capturing customer value

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Fundamentals Of Marketing
(MGT-210)
Mr. Abid Saeed
(Assistant Professor)

Copyright © 2012 Pearson Education, Inc.
Publishing as Prentice Hall

11- 11


Course Objectives
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Students understand the basic concepts,
theories, processes and terminology of
contemporary marketing.
Analyze marketing problems and suggest
workable solutions.
Understand the effects of the marketing
concept on consumers and society.
Develop a consciousness about the
importance of ethics in the marketing discipline.

Copyright © 2012 Pearson Education, Inc.


Publishing as Prentice Hall

1- 2


Learning Outcomes
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Understand the importance of marketing in
business practices.
Understand the various marketing mix tools:
product, pricing, promotion, and distribution.
Recommend and justify an appropriate mix of
such strategies to form a cohesive overall
strategy for a given marketing task or situation.

Copyright © 2012 Pearson Education, Inc.
Publishing as Prentice Hall

1- 3


Recommended Books
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Principles of Marketing by Philip Kotler & Gary Armstrong
Fifteenth Edition, Published by Prentice Hall
Marketing Management – A South Asian Perspective
by Philip Kotler, Kevin Lane Keller, Abraham Koshy &
Mithileshwar Jha, 13th Edition, Published by Pearson
Education, Inc.
Principles and Practices of Marketing by Jobber, D. 4th
edition, McGraw Hill International.
Principles of Advertising & IMC by Tom Duncan 2nd
Edition, Published by McGraw-Hill Irwin.

Copyright © 2012 Pearson Education, Inc.
Publishing as Prentice Hall

1- 4


Teaching Methodology

My basic teaching philosophy for this course is to
blend the theory and practice of Marketing in a
comfortable, supportive & easy language that
promotes active learning.

Copyright © 2012 Pearson Education, Inc.

Publishing as Prentice Hall

1- 5


Assessment Criteria
ITEM

ASSESSMENT TASK

TOTAL MARKS

1

Assignments (4)

10%

2

Quizzes (4)

10%

3

Graded Discussion
Topics (4)

05%


4

1st Sessional

10%

5

2nd Sessional

15%

6

Final Examination

50%

Your assessment & final grades will be based as per University existing rules.

Copyright © 2012 Pearson Education, Inc.
Publishing as Prentice Hall

1- 6


Course Outline
Marketing: Creating and Capturing Customer Value.
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Company and Marketing Strategy: Partnering to Build
Customer Relationships.
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Analyzing the Marketing Environment.
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Managing Marketing Information to Gain Customer
Insights.
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Consumer Markets and Consumer Buyer Behavior.
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Business Markets and Business Buying Behavior.
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Customer-Driven Marketing Strategy: Creating Value for
Target Customers.
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Product, Services, and Brands: Building Customer
Value.
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New-Product Development and Product Life-Cycle
Strategies.
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Understanding and Capturing Customer Value.
Copyright © 2012 Pearson Education, Inc.
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Publishing as Prentice Hall

1- 7



Course Outline...
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Pricing Strategies.
Marketing Channels: Delivering Customer Value.
Retailing and Wholesaling.
Communicating Customer Value: Integrated Marketing
Communications Strategy.
Advertising and Public Relations.
Personal Selling and Sales Promotion.
Direct and Online Marketing: Building Direct Customer
Relationships.
Creating Competitive Advantage.
The Global Marketplace.
Sustainable Marketing Social Responsibility and Ethics.

Copyright © 2012 Pearson Education, Inc.
Publishing as Prentice Hall


1- 8


LECTURE­1

Marketing:
Creating and Capturing
Customer Value
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Publishing as Prentice Hall

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Topic Outline
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What Is Marketing?

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Marketing process

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Understanding the Marketplace and
Customer Needs

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What Is Marketing?

Marketing is a process by which
companies create value for customers
and build strong customer relationships
to capture value from customers in
return.
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Publishing as Prentice Hall

1- 11


Marketing Process

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Publishing as Prentice Hall

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Understanding the
Marketplace
Customer Needs, Wants, and Demands

and Customer Needs

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Publishing as Prentice Hall

1- 13


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Understanding the
Marketplace
Customer
Needs
Market and
offerings
are
some combination of
products, services,
information, or
experiences offered to a
market to satisfy a need
or want

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Marketing myopia is
focusing only on existing
wants and losing sight of
underlying consumer

needs

Copyright © 2012 Pearson Education, Inc.
Publishing as Prentice Hall

1- 14






Understanding the
Marketplace
Customer
Value
and
Satisfaction
and Customer Needs
Expectations

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Understanding the
Marketplace
and Customer Needs

Exchange the act of obtaining a desired
object from someone by offering something
in return
Marketing actions try to create, maintain,
grow exchange relationships.
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Understanding the
Marketplace
Markets
the set of actual
and
and are
Customer
Needs
potential buyers of a product

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Publishing as Prentice Hall

1- 17


Bibliography
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Principles of Marketing by Philip Kotler & Gary Armstrong
Fifteenth Edition, Published by Prentice Hall
Marketing Management – A South Asian Perspective
by Philip Kotler, Kevin Lane Keller, Abraham Koshy &
Mithileshwar Jha, 13th Edition, Published by Pearson
Education, Inc.
Principles and Practices of Marketing by Jobber, D. 4th
edition, McGraw Hill International.
Principles of Advertising & IMC by Tom Duncan 2nd
Edition, Published by McGraw-Hill Irwin.

Copyright © 2012 Pearson Education, Inc.
Publishing as Prentice Hall

1- 18


The End

"Unless you try to do something
beyond what you have already
mastered, you will never grow."
Ronald E. Osborn


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Publishing as Prentice Hall

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