Marketing Management
Dawn Iacobucci
2010 South-Western, a part of Cengage Learning
What is Marketing
Chapter 1
Discussion Questions
What is marketing?
What can marketers market?
What types of decisions do marketers
make?
Marketing and Exchange
Marketing is an exchange between a firm
and customer
The customer seeks Customer The company offers
benefits from the company, benefits to its customers,
and expects to pay. and seeks profits.
Company
Discussion Questions
Why might an exchange NOT occur?
What is the long term benefit to having
satisfaction in an exchange?
What Can We Market?
What Can We Market?
Orientations
Product/Production
Build a better mousetrap
Selling Orientation
Lets make a Deal
Marketing/Customer
Building relationships with the customer
Discussion Question
Assume you are marketing pens. Can
you describe how you would market
under a product orientation compared to
a customer orientation?
Marketing IS the Business
Marketing should permeate the entire
organization
Chief Marketing Officers (CMO) need to
show results
Quantify results when possible
Marketing Framework
Start with a Situational Analysis using the 5Cs
Marketing Framework
Customers
Who are they?
What are they like?
Do we want to draw different customers?
Company
What are our strengths and weaknesses?
What customer benefits can we provide?
Marketing Framework
Context
What is happening in our industry that might
reshape our future business?
Collaborators
Can we address our customers needs while
strengthening our B2B partnerships?
Marketing Framework
Competitors
Who are the competitors we must consider?
What are their likely actions and reactions?
Marketing Framework
Proceed to Strategic Marketing Planning with STP
Marketing Framework
Segmentation
Customers arent all the same; they vary in
their preferences, needs, and resources
Targeting
Attracting some of those customers makes
better sense than going after others
Positioning
Communicate your benefits clearly to your
intended customers
Marketing Framework
Advance to Marketing Tactics with the 4Ps
Marketing Framework
Product
Will customers want what your company is
prepared to produce?
Price
Will customers pay what youd like to
charge?
Marketing Framework
Place
Where and how will customers purchase
your market offering?
Promotion
What can you tell your customers or do for
them to entice them to purchase?
Framework Considerations
5 Cs, STP and 4 Ps are interdependent
Marketers must understand how one
decision impacts other decisions
The 5 Cs are in flux
Marketers must consistently monitor and
adjust strategy accordingly
Discussion Question
How can one judge whether or not
marketers made the right decisions?
Types of Shopping
Types of Shopping
Purchase Decision Making
Models for How Buyers Decide
Lexicographic method
Compare brands by most important
attribute; brands that make the cut go into
consideration set; then compare on next
important attribute, etc.
Average method
One attribute cant make or break a brand
Use attribute importance
Assists with segmentation
B2B Customers
Classifications
Installations
Accessories
Raw materials
Components
Business services
Most important classification is whether a
business cares about a purchase
B2B Customers
More complex decision making due to
different roles within a business:
Initiators
Users
Influencers
Buyers
Each role may sleek slightly different
attributes
This Book
Assumes global customers
Assumes omnipresence of the Internet
Gives fresh, fun examples
Trains you to think like a marketer
Defines terms as necessary
Offers lists of factors to consider
Gives how to guidance when feasible
This Book
Each chapter opens with the Marketing
Framework to maintain a focus on the big picture
while also highlighting key concepts and tools
about to be covered.
This Book
Begins each chapter with coverage of What is
the topic and Why it should matter to you
Every chapter then addresses the question of
How do I do this successfully?
Book Layout
Discussion Questions
Do you think ALL marketers utilize the
marketing framework? Why or why not?
