Lecture Week 1: Introduction To Marketing

Slide 1.
Lecture Week 1
Introduction to marketing
Kotler, Keller, Brady, Goodman and Hansen, Marketing Management, 1st Edition © Pearson Education Limited 2009
Slide 1.2
Chapter questions
1. Why is marketing important and what is the

scope of marketing?
2. How do we understand markets and
customers?
3. How is marketing practiced?
4. What are the European marketing realities,
company and consumer challenges?
Slide 1.3
Chapter questions (continued)
5. What is the philosophy of marketing?

6. How is marketing in a post modern world
and retromarketing practiced?
7. What is an overview of marketing
management?
Slide 1.4
What is marketing?
Marketing is a customer focus

that permeates organisational functions
and processes and is geared towards
marketing promises through value
proposition, enabling the fulfillment of individual
expectations created by such promises and
fulfilling such expectations through support
to customers’ value-generating processes
thereby supporting value creation in the firm,
customers and stakeholders.
Slide 1.5
What is marketing management?
Marketing management is the

art and science
of choosing target markets
and getting, keeping and growing
customers through
creating, delivering and communicating
superior customer value.
Slide 1.6
Selling is only the tip of the iceberg
‘There will always be need for

some selling. But the aim of marketing is to
make selling superfluous. The aim of
marketing is to know and understand the
customer so well that the product or
service fits him and sells itself. Ideally,
marketing should result in a customer who
is ready to buy. All that should be needed
is to make the product or service
available’.
Peter Drucker
Slide 1.7
Marketing is more than

advertising or selling
This video clip explores the over focus of
many companies on sales and particularly
advertising without really trying to understand
the customer and really understanding the
totality of marketing.
www.youtube.com/watch?v=heSudg-tfIk&feat
ure=related
Slide 1.8
What is marketed?
Services
Services
Products
Products
Events
Events
Experiences
Experiences
People
People
Places
Places
Ideas
Ideas
Slide 1.9
Demand states
Negative Nonexistent Latent
Declining Irregular
Full Overfull Unwholesome
Slide 1.10
Marketing during a recession:

The future is bright!
‘The business landscape has changed fundamentally;
tomorrow’s environment will be different, but no less rich in
possibilities for those who are prepared.’ (Davis, 2009)
www.youtube.com/watch?v=GEJIhkDSjNo
View an interesting video clip from Kraft
Foods on how they stay customer focused
during a recession and really understand the
core marketing focus on the customer.
Slide 1.11
What is a network economy?
A network economy is driven by a dynamic

and knowledge-rich technology dominant
environment meaning that the hierarchical
stand-alone organisations of the twentieth
century have changed into a variety of
network forms.
Slide 1.12
Network forms
Internal networks
Vertical networks
Intermarket networks
Opportunity networks
Slide 1.13
A simple marketing system
Figure 1.2 A simple marketing system
Slide 1.14
Key customer markets
Consumer Business
Global Non-profit
Slide 1.15
Purchasing power in Europe
Figure 1.3 European purchasing power in 2007

Source: Michael Bauer Research (2007) European purchasing power in 2007: who’s on top? 31 August (retrieved from www.english.mb-research.de/content/view/). Reproduced with
permission
Slide 1.16
Getting a global mindset
• Think globally
• Think locally
• Think globally and locally simultaneously
Slide 1.17
Market terms
Marketplace Marketspace
Metamarket Metamediaries
Slide 1.18
A metamediary website
www.autotrader.nl
Source: European Auto Trader BV
Slide 1.19
The 7Ps of the marketing mix
Figure 1.4 The 7Ps components of the marketing mix
Slide 1.20
Classifications of marketing
practice
Table 1.3 Classifications of marketing practice by relational exchange dimensions
Slide 1.21
Transaction marketing differs

from relationship marketing
• Time perspective
• Primary communication
• Customer feedback mechanism
• Market size
• Criterion for success
Slide 1.22
The marketing environment
Task environment Broad environment

• Company • Demographic
• Suppliers • Economic
• Distributors • Physical
• Dealers • Technological
• Target customers • Political-legal
• Social-cultural
Slide 1.23
The marketplace isn’t what

it used to be…
Heightened
Heightened competition
competition
Globalization
Globalization
Technologies
Technologies
Industry
Industry convergence
convergence
Retail
Retail transformation
transformation
Disintermediation
Disintermediation
Slide 1.24
Consumers are changing …
Consumer
Consumer sophistication
sophistication
Tech
Tech savvy
savvy
Self-expression
Self-expression
Buying
Buying power
power
Voice
Voice and
and influence
influence
Co-creation
Co-creation
Self-service
Self-service
Slide 1.25
Philosophies of business
Production
philosophy
Selling
philosophy
Marketing
philosophy
Slide 1.26
Conditions of
postmodern marketing
• Hyperreality
• Fragmentation
• Reversals of production and consumption
• Decentring of the subject
• Paradoxical juxtapositions
• Loss of commitment
Slide 1.27
Characteristics of retromarketing
Tricksterism
Exclusivity
Amplify
Secrecy
Entertain
Slide 1.28
Overview of marketing management
• Creating value • Building strong brands

• Introducing • Marketing mix
marketing • Implementing
• Capturing marketing marketing
insights management
• Connecting with • Managing marketing
customers metrics
Slide 1.29
Recap: Can you explain?
• Why is marketing important and what is the

scope of marketing?
• How do we understand markets and
customers?
• How is marketing practiced?
• What are the European marketing realities,

company and consumer challenges?
Slide 1.30
Recap: Can you explain? (continued)
• What is the philosophy of marketing?
• How is marketing in a post modern world and

retromarketing practiced?
• What is an overview of marketing
management?

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Slide 1.

1. Why is marketing important and what is the

Chapter questions (continued)

5. What is the philosophy of marketing?

Marketing is a customer focus

What is marketing management?

Marketing management is the

Selling is only the tip of the iceberg

‘There will always be need for

Marketing is more than

Negative Nonexistent Latent

Full Overfull Unwholesome

Marketing during a recession:

What is a network economy?

A network economy is driven by a dynamic

A simple marketing system

Figure 1.2 A simple marketing system

Key customer markets

Purchasing power in Europe

Figure 1.3 European purchasing power in 2007

Getting a global mindset

• Think globally and locally simultaneously

The 7Ps of the marketing mix

Figure 1.4 The 7Ps components of the marketing mix

Table 1.3 Classifications of marketing practice by relational exchange dimensions

Transaction marketing differs

• Customer feedback mechanism

• Criterion for success

The marketing environment

Task environment Broad environment

The marketplace isn’t what

Consumers are changing …

• Reversals of production and consumption

• Decentring of the subject

Overview of marketing management

• Creating value • Building strong brands

Recap: Can you explain?

• Why is marketing important and what is the

• What are the European marketing realities,

Recap: Can you explain? (continued)

• What is the philosophy of marketing?

• How is marketing in a post modern world and

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