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Principles of Marketing

Dr. Do Khac Xuan Diem

Email: [email protected]

What do you
expect to learn
from this
subject?

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Learning outcomes

Explain key concepts, principles, process of marketing.

Describe the roles of marketing in relation to other business functions

within an organization.

Suggest ethical and creative solutions to marketing related problems in

business contexts.

Work and communicate effectively as an individual or in teams.

Learning schedule
Week Teaching and Learning Activity Student Task/Assessment
1 Chapter 1 – An overview of marketing Quizzes/Discussion/Assignment
Chapter 2 – Corporate strategies and marketing planning Quizzes/Discussion/Assignment
2
Chapter 3 – Marketing environment Quizzes/Discussion/Assignment

3 Chapter 4 – Marketing information system Quizzes/Discussion/Assignment

4 Chapter 5 – Buyer behaviour Quizzes/Discussion/Assignment

5 Chapter 6 – Customer-driven marketing strategy Quizzes/Discussion/Assignment

6 Chapter 7 – Product strategy and branding Quizzes/Discussion/Assignment

7 Chapter 8 – Pricing strategy Quizzes/Discussion/Assignment

8 Chapter 9 – Marketing channels Quizzes/Discussion/Assignment

Chapter 10 – Integrated marketing communication Marketing plan and presentation
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strategy 4

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Assessment overview
Tasks Individual/Group Weighting Notes
Attendance Individual 5%
Contributions in class Individual Bonus to your in-
progress marks.
Multiple choice questions (LMS) Individual 10% Every chapter
(10 questions/15 minutes)
Discussion (LMS) Individual 10%
Assignment/case study Group 25% Presentation
Final test Individual 50%
Multiple choice questions

Textbooks
Textbook
Kotler, P., & Amstrong, G., & Opresnik, M.O., (2017). Principles of
marketing. Global edition UK: Pearson Education limited. [658.8 /
K874]
References
Perreault William D., Cannon Joseph P., McCarthy - Essentials of
Marketing - McGraw-Hill 2012 [658.8]
William M. Pride and O.C. Ferrel (2016). Marketing 2016, Cengage
learning [658.8 / P9476]

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Chapter 1
An overview of Marketing

Learning objectives

• Objective 1: Define marketing and outline the steps in the marketing process.

• Objective 2: Explain the importance of understanding the marketplace and

customers and identify the five core marketplace concepts.

• Objective 3: Identify the key elements of a customer-driven marketing strategy

and discuss the marketing management orientations that guide marketing
strategy.

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Learning objective 1:

Define marketing and outline the

steps in the marketing process

What is marketing?

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What is marketing?

Telling and Selling Advertising

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What is marketing?

Advertising
Telling and Selling
Sales Promotion
Public Relations

Marketing mix strategies

Target customers
Customers’ needs
Marketing Research

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Marketing management

Marketing

Customer
engagement
Customer
relationship
Customer loyalty

Customer
satisfaction
Customer
purchase

1990s 2000s 2010s

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What is marketing?

Marketing is the process by which marketing organisations engage

customers, build strong customer relationships and create customer value
in order to capture value from customers in return (Amstrong et al., 2020).

Marketing is engaging customers and managing profitable customer

relationships (Kotler and Amstrong, 2017).

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What is marketing?

Motto ‘Taste the feeling’ ‘Connect and share with the people in
‘Make everyday moments more special’ their lives’

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The marketing process

Create value for customers and Capture value from

build customer relationships customers in return

Engage
Construct an Capture
customers,
Design a integrated value from
Understand the build
customer marketing customers to
marketplace and profitable
value-driven program that create profits
customer needs relationship
marketing deliver and
and wants and create
strategy superior customer
customer
value equity
delight

Amstrong et al., 2020

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Reflect yourself
What does marketing mean to you?
How does it affect your daily life?

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Learning objective 2:

Explain the importance of

understanding the marketplace
and customers and identify the five
core marketplace concepts.

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Customer needs, wants and demands

Needs: Hungry Demands: Rice

States of felt Human wants
deprivation backed by buying
Wants: Noodle, Hamburger, Bread, Rice power
Physical, social, The form human needs take shaped by
individual needs culture and individual personality 20

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Market offerings: Goods, services and experiences

Goods Services Experiences

Marketing offerings
Some combination of goods, services,
information or experiences offered to a
market to satisfy a need or want.
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Market offerings: Goods, services and experiences

Marketing myopia
The mistake of paying more attention to the
specific products a company offers than to the
benefits and experiences produced by these
products.

Look beyond attributes of the

product by focusing on benefits and
experiences for customers.
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Customer value and satisfaction

Customers Value:
A comparison between costs and
• Value and benefits
satisfaction Satisfaction:
A comparison between product
performance and customer
expectations.
Marketers
• Set the right
level of
expectations

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Exchanges, transactions and relationships

Exchange: Relationship:
The act of obtaining a desired object from Building relationships with
someone by offering something in return. customers by consistently delivering
Transaction: superior value to customers.
A trade between two parties that involves at least
two things of value, agreed-upon conditions and a
time and place of agreement.
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Markets
Market
The set of all actual and potential buyers of a product or service.

Elements of a modern marketing system

Company
Marketing Final
Suppliers Intermediaries consumers

Competitors

Major environmental forces

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Learning objective 3:

Identify the key elements of a

customer-driven marketing strategy
and discuss the marketing
management orientations that guide
marketing strategy.

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Designing a customer-driven marketing strategy

Should a company serve all customers?

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Designing a customer-driven marketing strategy

Marketing management
The art and science of choosing target markets and building profitable relationships
with them.
A marketing strategy

How can we serve

What customers
these customers
will we serve?
best?

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Designing a customer-driven marketing strategy

• Selecting customers to serve (Who is our target market?)

Market segmentation Target market

Dividing the market into segments of Refer to which segments to go after
customers
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Designing a customer-driven marketing strategy

• Choosing a value proposition (What is our value proposition?)

A brand’s value
proposition is the set of
benefits or values it
promises to deliver to
customers to satisfy
their needs.

The value proposition: Airbnb’s ‘Don’t go there. Live there’ is a call to action for its
target market to experience the world as a local would.
Kaspars Grinvalds/Shutterstock.com
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Designing a customer-driven marketing strategy

• Marketing management orientations
Societal
marketing
Marketing concept
concept A company’s
Selling Achieving marketing
concept organisational decisions should
Product Consumers will goals depends consider
concept not buy enough on knowing the consumers’
Production Consumers favor products unless needs and wants, the
concept products that the firm wants of target company’s
Consumers favor offer the most undertakes a markets and requirements,
products that quality, large-scale delivering the consumers’
are available performance selling and desired long-run
and affordable. and features. promotion satisfactions interests and
effort. better than society’s long-
competitors. run interests.
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Designing a customer-driven marketing strategy

Kotler and Amstrong, 2016

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Designing a customer-driven marketing strategy

Society
(Human welfare)

Societal
marketing
concept

Consumers Company
(Want satisfaction) (Profits)
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Applications

Discussion (LMS)
Discuss the concept of customer relationship management. Why is it
essential that a business incorporates this in its operations?

Case study (Page 59-60)

Argos: Creating customer value amid change and turbulence

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References

Kotler, P., & Amstrong, G., & Opresnik, M.O., (2017). Principles of marketing.

Global edition UK: Pearson Education limited.

Perreault William D., Cannon Joseph P., McCarthy - Essentials of Marketing -

McGraw-Hill 2012.

Amstrong et al. (2020). Principles of Marketing Ebook, Pearson Education

Australia.
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