MARKETING MANAGEMENT
,Session 1 – Introduction to Marketing
- Introduction to the Marketing Environment
- The Connected Customer
- New Competition
- Introduction to Marketing and Value Creation
- Introduction to the Course
Lecture
What is Marketing? -> Definition
- American Marketing Association:
o Marketing is the activity, set of institutions, and processes for creating,
communicating, delivering, and exchanging offerings that have value for
customers, clients, partners, and society at large.
- Goes beyond advertising and selling
- “The business enterprise has two and only two basic functions: marketing and
innovation. Marketing and innovation produce results; all the rest are costs” (Drucker)
- Creating value for customers
A simple Marketing system: Creating an Exchange
o Value development is key to create an exchange between industry and market
,Creating Value through the Marketing Mix (4p’s)
Marketing as Management Philosophy
- Production Orientation
o Availability, efficient production and distribution, low prices
- Product Orientation
o Product quality, “quality will sell automatically”
- Selling Orientation
o Push is needed, products are sold, not bought
- Marketing Orientation
o 1950-
o Customer needs and demand are central
o Value creation!
Selling is Only the Tip of the Iceberg
, Assumptions made by Organizations
- Firms also need to understand the side effects/societal effects of their products for
individuals
Marketing is important for firms!
- Coca Cola
- Intel inside
Who is responsible for marketing?
“Marketing is far too important to be left to the marketing department”
Marketing is:
- A job
- An activity
- A process
- A department
- A way to spend money
,Session 1 – Introduction to Marketing
- Introduction to the Marketing Environment
- The Connected Customer
- New Competition
- Introduction to Marketing and Value Creation
- Introduction to the Course
Lecture
What is Marketing? -> Definition
- American Marketing Association:
o Marketing is the activity, set of institutions, and processes for creating,
communicating, delivering, and exchanging offerings that have value for
customers, clients, partners, and society at large.
- Goes beyond advertising and selling
- “The business enterprise has two and only two basic functions: marketing and
innovation. Marketing and innovation produce results; all the rest are costs” (Drucker)
- Creating value for customers
A simple Marketing system: Creating an Exchange
o Value development is key to create an exchange between industry and market
,Creating Value through the Marketing Mix (4p’s)
Marketing as Management Philosophy
- Production Orientation
o Availability, efficient production and distribution, low prices
- Product Orientation
o Product quality, “quality will sell automatically”
- Selling Orientation
o Push is needed, products are sold, not bought
- Marketing Orientation
o 1950-
o Customer needs and demand are central
o Value creation!
Selling is Only the Tip of the Iceberg
, Assumptions made by Organizations
- Firms also need to understand the side effects/societal effects of their products for
individuals
Marketing is important for firms!
- Coca Cola
- Intel inside
Who is responsible for marketing?
“Marketing is far too important to be left to the marketing department”
Marketing is:
- A job
- An activity
- A process
- A department
- A way to spend money
