1. B M G T 2 0 5 : P R I N C I PA L S O F M A R K E T I N G
CHAPTER 1: OVERVIEW
OF MARKETING

2. OVERVIEW OF MARKETING
• Define the role of marketing in organizations.
• Describe how marketers create value for a product or
service.
• Understand why marketing is important both within
and outside the firm.

3. MEMORABLE
MARKETING
• What is a marketing
campaign that you can
recall?
• Was is something you
would say was good
marketing?
• Why?
http://www.youtube.com/watch?v=R4vkVHijdQk

4. SUCCESSFUL
MARKETING
• The right consumer is exposed to the
message at the right time and place
• Marketing causes consumer to pay
attention
• The ad reflects consumer’s level of
understanding and behaviors the
with product
• Correctly positions brand in terms of
points-of-difference and points-ofparity
• Motivates consumer to consider
purchase of the brand

5. W H AT I S M A R K E T I N G ?
Marketing is an organizational function and a set of processes
for creating, capturing, communicating, and delivering value to
customers and for managing customer relationships in ways
that benefit the organization and its stakeholders.

6. M A R K E T I N G I S A B O U T S AT I S F Y I N G
CUSTOMER NEEDS AND WANTS
http://youtu.be/Zr1s_B0zqX0

7. M A R K E T I N G E N TA I L S A N E X C H A N G E

8. M A R K E T I N G R E Q U I R E S P R O D U C T,
PRICE, PLACE, AND PROMOTION DECISIONS
Product
Price
Creating value
Capturing value
©Digital Vision Ltd.
PRNewsFoto/PepsiCo;
AP Photo.
Promotion
©Stockbyte/PunchStock.
Communication value
Delivering value
Place
©BrandX/JupiterImages/Getty Images.

9. P R O D U C T:
C R E AT I N G V A L U E
Goods
• The fundamental purpose
of Marketing is to create
value by developing a
variety of offerings,
including goods, services,
and ideas, to satisfy
customer needs.
Services
Ideas

10. MARKETING AN IDEA
http://youtu.be/w9Sx34swEG0

11. PRICE:
C A P T U R I N G VA L U E
• Price is everything a buyer
gives up (money, time,
energy) in exchange for
the product.
!
• How much are customers
willing to pay and can a
profit can be made at that
point.

12. PLACE: DELIVERING
T H E VA L U E
PROPOSITION
• Place, or supply chain
management, describes all
activities necessary to get
the product to the right
customer when the
customer wants it.
• Where would you find this
product in the store 5
years ago? 10 years ago?

13. PROMOTION:
C O M M U N I C AT I N G
VA L U E
• Promotion is
communication by a
marketer that informs,
persuades, and reminds
potential buyers about a
product or service to
influence their opinions or
elicit a response.

14. MARKETING CAN BE PERFORMED
B Y I N D I V I D U A L S A N D O R G A N I Z AT I O N S
Retailer
(Sells PCs & monitors)
B2C
C2C
B2B
Manufacturer (Makes
monitors)
Consumer B
Consumer A

15. C O L L A B O R AT I V E E C O N O M Y:
EMERGING TREND IN MARKETING

16. M A R K E T I N G I M PA C T S V A R I O U S
S TA K E H O L D E R S
Society
Supply
Chain
Customers
Employees

17. M A R K E T I N G H E L P S C R E AT E V A L U E
Production
Sales
2.
3.
Marketing
4.
5.
Value based marketing

18. VA L U E - B A S E D M A R K E T I N G
“Pure Dark Chocolate
Light Exquisite Cookie”

19. CHAPTER 1 CHECK IN
1.
What is the definition of marketing?
2.
Marketing is about satisfying ______ and ______.
3.
What are the four components of the marketing mix?
4.
Who can perform marketing?
5.
What are the various eras of marketing?

20. HOW DO FIRMS BECOME
VA L U E D R I V E N ?
Sharing Information
Balancing Benefits with Costs
Building Relationships with Customers

22. CHAPTER 1 CHECK IN
1.
Does providing a good value mean selling at a low price?
2.
What are the benefits of long-term relationships with customers?
3.
How are marketers connecting with customers using social and mobile
media?

23. W H Y I S M A R K E T I N G I M P O R TA N T ?
Makes Life Easier

24. CHAPTER 1 KEY TERMS TO KNOW
• Exchange is the trade of things of value between the
buyer and the seller so that each is better off as a
result.
• Goods are items that you can physically touch.
• Services are intangible customer benefits that are
produced by people or machines and cannot be
separated from the producer.

25. CHAPTER 1 KEY TERMS TO KNOW
• Ideas include thoughts, opinions, and philosophies,
and intellectual concepts which can be marketed.
• A supply chain is the group of firms that make and
deliver a given set of goods and services.
• Value reflects the relationship of benefits to costs.