TSC 1.

22 Introduction to Marketing

Essay – au moins une citation (à mettre dans la bibliographie)

Explain how the want is made and who the satisfaction is created (essay)

- Lecture 1 (Sept. 11): Course overview

Product marketing
Innovation via strategic marketing management

2 theories:
. Traditional marketing (4P’s: place, price, product, promotion)
. Relational marketing (services and societal)
How to THINK marketing: concepts and how to mix them, process-based

EXAMS:
Essay: express the thing
Report: study a product that exist
Attendance and participation
Final Exam

- Lecture 2 (Sept.18): Marketing identified and Marketing environment

& challenges, Text (Ch.1,3).
BOOK
Five steps of Marketing:
- Understand the marketplace and customer needs and wants
- Design a customer-driven marketing strategy with the goal of getting, keeping, growing
target customers
- Construct a marketing program that delivers superior value
- Building profitable(rentable) customer relationship and creating customer delight
- Capturing value from customer

Have to understand customer needs wants and demands = core marketplace concepts
Customer driven marketing strategy: who it will serve and how it will serve the targets

. Production concept: management task is to improve production and efficiency and bring down
prices
. Product concept: Customer favors product that offer the most inequality, performance and
innovative features
. Selling concept: customer will not buy enough products unless there are promotions
. Marketing concept: achieving goals depends on determining needs and wants of target and
delivered satisfactions more effectively et efficiently than competitors
. Societal marketing concept: sustainable marketing strategies for customers satisfaction and societal
well-being is a key to achieve company’s goals

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COURS – What is marketing?
Stores need customers, they are necessary for the store to survive – they do business with the store;
they pay to get smtg they want. How can stores can do to keep customers?
Marketing: The business function that focuses on attracting and keeping customers  the role of
marketing not what it is
Market: the group of people who are willing and able to buy the product

The quantity and the price are determined by the demand and supply, have to find the equilibrium.

Equilibrium: value and satisfaction + price and quality

On what basis do we choose a product instead of another? Quantity? Price?

How I make the choice? It is what we perceive about it.

Needs and Wants (a choice)

. Needs = economic
. Wants = how I choose  depending on the price, the brand, the education with parents (born and
raised with an idea), the advice from the doctor, what you heard about the product (online or not) =
value, but also the marketing of the mark.

A want is a culturally and personally shaped need.

Both, need and want, cannot be separated. Want is everything and the need is the want.
Marketing is the fact to managed to satisfy needs and wants.

Quality “is a function of” Value & Satisfaction. Q= f(V,S).

Quality is the equilibrium state of both value and satisfaction.
Value: cultural and personal aspects / wants and needs of customer

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Affording want
The value and expectation are the 2 elements/ the function of quality

Quality
- Exchange, transaction (attraction = meet value)
- Relationship (retention = repeat buying)

Market is not a place anymore but the set of customers who are able and willing to buy a product.

Marketing  Need, want, demand, offering, quality, value, satisfaction, exchange

Marketing: A social (V) and managerial (S) process whereby individuals and groups obtain what they
need and want through creating and exchanging products (attracting/meeting) and
(retaining/fulfilling) value with others.

Marketing management:
- Production concept
- Product concept: what’s in it – pull approach the best product
- Selling concept – push approach
Need to know what the consumer wants to create it well.

Satisfying the value and affordability of the want.

- Lecture 3 (Sept.25): Marketing information & research, Text (Ch.4)

We need information to make marketing work.

Understanding the market (customer needs and wants)
Micro environment (business/managerial) / macro-environment (social)
Value and satisfaction

Transaction: money exchange – satisfy the affordability

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Relationship: exchange btw human
Marketing needs both transaction and relationship
Performance and experience determine the quality of the product. It is personal, depends on our
point of view.

Macro-environment (social)
- Demographics
- Natural environment
- Legal environment
- Culture
- Globalization and com
The larger societal forces that affect the microenvironment--demographic, economic,
natural, and cultural forces.

Micro-environment (managerial)
- Departments, suppliers, competitors, intermediaries, publics/pressure groups
- Technology (Internet: e-business, e-commerce, e-marketing)
The actors close to the company that affect its ability to serve its customers--the company,
suppliers, marketing intermediaries, customer markets, competitors, and publics.

Who is responsible for developing marketing research info?

MIS (Marketing Information System): every person or thing involved in collecting analyzing and
presenting data for marketing decisions.
- Internal MIS department
- External MIS marketing research companies to be hired or buy their research, on-line
databases…

How (tools) to develop marketing info

. Internal data (micro environment)
The collection of info that company’s departments/suppliers/retailers can supply.
- E.g. (accounting costs, production/capacity sales/competitive actions
- Big Data

. Marketing intelligence (macro-environment)

Systematic collection and analysis of publicity available data (secondary data)
- Formal (ex: national statistics…)
- Informal (ex: chats, garbage search…)

. Marketing research
System design, collection, analysis and reporting of data on a specific marketing situation facing the
company.
- Collect primary data: first-hand data collected for a specific research purpose
- Aimed ats satisfying customers gain their loyalty (repeat buying)

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Qualitative / quantitative
Qualitative
- Types: exploratory/descriptive/experimental
- Character: mainly verbal, unit sampling, vertical investigation (answers why, who, how)
- Tools:
o Participant observation
o In-depth interviews
o Focus groups (group discussion)
o Ethnography
Quantitative
- Types: causal (cause-effect): hypothesis testing/descriptive/experimental
- Character: Mainly numerical- statistical sampling. Horizontal/aggregate investigation
(answers How many? What are?)
- Tools:
o Surveys (uses questionnaires that could be administered by mail, phone, and/or face-
to-face)
o Non-participant observations

Marketing research process

- Step one: define the problem and set objectives to solve it
- Step two: prepare a plan to achieve those objectives (step one) consider
o Primary data (select a suitable approach of marketing research-
o Secondary data (marketing intelligence internal data) support only
- Step three; collect data and analyze it as determined in the plan (step two)
- Step four: interpret and report results (transferring research results to be useful marketing
information)

- Lecture 4 (Oct. 2): Consumer & business buyer behaviour, Text (Ch.5)
https://www.studocu.com/en-ca/document/carleton-university/basic-marketing/busi2204-chapter-5-
marketing-an-introduction/46841992

BtoC buyer behavior

- The study of buying behavior of final consumers, individuals and households who buy for
personal consumption
- Consumer market: all the individuals and households who buy for personal consumption

Invoking our wants

Stimuli  buyer  response
- The buyer process value fulfillment: stimuli (characteristics affecting/shaping behavior/want)
evoking a response (usually choice/decision to meet and afford need)
Exclusivity!

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Model of consumer behavior
Household name, familiar, generational, feel safe

Stimuli  buyer  response

/  >Need fulfillment via wants
/ You
Cultural, social, personal

The buyer decision making process (psychological buying factors)

- NEED recognition
Basic motivation
- Information search/evaluation of alternatives
Mobilizing perception - want shaping – V
- Purchase decision
Active learning - want meeting & fulfilled process – S
(Buy it again? Recommend it?)
- Post-purchase behavior
Belief and attitude behavior - verdict/satisfaction opinion = confirmed or new perception – Q

BtoB buyer behavior

Stimuli  buyer  response

/  
/ Them --- Corporate, needs fulfillment via wants
Environment, organizational, interpersonal, individual

Business/corporate buying behavior

- Business buyer decision making process to their business environment. Thus, it is business
specific.
- It differs from a consumer buying behavior in:
o Aiming at obtaining goods and services for resale/use
o Fewer but larger buyers
o Derived demand: based on final customer
o Purchasing committee not a person
o More complex/structured and formal purchasing

- Lecture 5 (Oct. 16): Strategic planning & marketing process, market

segmentation, targeting and positioning, Text (Ch.2,6)
- Lecture 6 (Oct.30): Product management, Text (Ch.7,8)
- Lecture 7 (Nov.6): Services marketing AND Price management Text (Ch.7,9)
- Lecture 8 (Nov.13): Place/distribution management, Text (Ch.10,11)
- Lecture 9 (Nov.20): Integrated marketing communications, Text (Ch.12,13, 14)

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 - Lecture 10 (Nov.27): Global marketing management and Relationship Marketing, Text
(Ch.15) and External Reading (Mandatory, see Bb)
- Lecture 11 (Dec. 4): Societal marketing, Text (Ch.16) AND Final-Exam Review