mktg 504 - marketing
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MKTG 504 - MARKETING. Introduction Dr. Dennis Pitta University of Baltimore. What is Marketing?. Social Activity - carried on by human beings. Aimed at satisfying NEEDS + WANTS. Exchange!!. MARKETING. Process in Society- - PowerPoint PPT PresentationTRANSCRIPT
MKTG 504 - MARKETING
Introduction
Dr. Dennis PittaUniversity of Baltimore
What is Marketing?
Social Activity - carried on by human beings.
Aimed at satisfying NEEDS + WANTS.
Exchange!!
MARKETING
Process in Society-
People and organizations with diverse wants and needs ATTEMPT to satisfy them by forming mutually satisfying exchange relationships.
Of what value are dogs?
Dogs are...
________________________________________________________________________________________________
Why would Pitta want a dog?
Wants are….
DiverseCan be really uniqueNot always identified easilyGreat - great motivators
The result…..
Two just to be sure!!
Ways of Satisfying NEEDS and WANTS
Coercion
Transfer
Origination
Exchange
Net Satisfaction by Method
Party 1 Party 2 NetOriginationCoercionTransferExchange
Marketing Exchange …COMPLEX
Let’s take a car example
1989 Honda Accord ($1,000) _________________
Marketing Exchange …COMPLEX
Let’s take another car example
2007 Rolls Royce Silver Wraith ($250,000) _________________
Marketing Exchange… COMPLEX
Let’s take another car example
2007 Volvo 4 W drive station wagon ($49,000) _________________
Marketing Exchange COMPLEX
Let’s take yet another car example
1970 VW Beetle with ‘Continental hood and rear’ ($4,000) _________________
Marketing Exchange COMPLEX
UTILITARIANSYMBOLICPSYCHOLOGICALSOCIAL
Marketing and Utility
UTILITY = The satisfaction value, or usefulness a user receives from a good or service in relation to his or her wants.
(( Utility = SATISFACTION))
MARKETING CREATES:
PLACE UTILITYTIME UTILITYPOSSESSION UTILITY
Ancient History
Marketing - as an academic discipline - dates back to ~ 1921.
Universal Marketing Function
BuyingSellingTransportingStoring Standardizing and GradingFinanceRisk TakingMarket Investigation
Gaps in Marketing
Gaps exist between those with wants
and those who can satisfy those wants
Gaps in Marketing
PerceptualTemporalSpatialValuationalOwnership
Gaps in Marketing
Perceptual
FirstPerson
Temporal SecondPerson
Spatial
Valuational
Ownership
Bridging Gaps in Marketing
Perceptual (Communication)
Temporal ( Storage)Spatial (Transportation)Valuational
(Communication)Ownership (Exchange)
Bridging Gaps in Marketing
Perceptual======COMMUNICATION=====
FirstPerson
Temporal======STORAGE=====
SecondPerson
Spatial=====TRANSPORTATION===
Valuational=====COMMUNICATION=====
Ownership=====EXCHANGE=====
The Evolution of Marketing
Production Orientation
Sales orientationMarketing
OrientationSocial Orientation
Production Orientation
Production emphasizedCompany focusConsumer often ignored
Sales Orientation
Company FocusSales (volume)
EmphasizedStress on Selling Tactics
Marketing Orientation
Focus: the ConsumerProfit OrientationIntegration of the
Firm
Societal Orientation
Focus: the ConsumerProfit OrientationIntegration of the FirmRecognition that society is
an Exchange Partner
Upcoming Topics
Marketing’s Environment