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  • 1. Marketing: What does it mean? Principles of Marketing Spring 2008 Dr. Hila Riemer Unit 1

2. Agenda

  • Introduce ourselves
  • What is marketing?
  • Course matters

3. Foundations of Marketing

  • What We Will Cover
    • What is Marketing?
    • The Marketplace and Customer Needs
    • Marketing Management
    • Marketing Management Philosophies
    • Building Customer Relationships

4. What is Marketing? 5.

  • Founded ~1965 with a unique concept of drip irrigation- a revolutionary irrigation practice.
  • Today:
  • Sales of more than 350 million dollars a year,
  • 32 subsidiaries
  • Operating in more then 110 countries
  • 12 manufacturing facilities worldwide,
  • The largest low-volume irrigation company in the world.
  • Netafim's continuously-expanding lineup of innovative products are used in every type of agricultural venture - from high tech corporate farms to traditional family owned farms in developing countries.
  • Today, Netafim is a well-known global leader in the field of innovative irrigation-based solutions and water technologies that solve problems and raise productivity, while protecting the environment and saving water.

6.

  • Creating Value
  • Netafim sells the knowledge and advanced solutions in irrigation.
  • Netafimengages customers via knowledge and service.
  • Netafims 40 years of worldwide experience in irrigation and agro- solutions allows our agronomists to provide answers to any challenge in a wide variety of local growing conditions.
  • Success has been achieved by creatinglasting customer relationships.

Case Study

  • Capturing Value
  • Netafim is the largest low-volume irrigation company in the world.
  • More the 350 Million US dollars a year in more then 110 countries.
  • Netafim's continuously-expanding lineup of innovative products are used in every type of agricultural venture - from high tech corporate farms to traditional family owned farms in developing countries.
  • Today, Netafim is a well-known global leader in the field of innovative irrigation-based solutions and water technologies that solve problems and raise productivity, while protecting the environment and saving water.

Netafim What is its secret? 7. What Is Marketing?

  • Simple Definition: Marketing is managing profitable customer relationships.
  • Goals:
  • Attract new customers by promising superior value.
  • Keep and grow current customers by delivering satisfaction.

8. Marketing Defined

  • A social and managerial process by which individuals and groups obtain what theyneedandwantthrough creating and exchanging products and value with others.

OLD View of Marketing: Making a Sale Telling & Selling New Viewof Marketing: Satisfyingcustomer needs NEW Viewof Marketing: SatisfyingCustomer Needs 9.

  • the aim of marketing is to make selling superfluous.The aim of marketing is to know and understand the customer so well that the product or service fits him and sells itself. Ideally, marketing should result in a customer who is ready to buy. All that should be needed then is to make the product of service available
  • Peter Drucker

Marketing Defined (contd) 10. A Simple Model of the Marketing Process Create valueforcustomers and build customer relationships Capture valuefromcustomers in return Understand the marketplace and customer needs and wants Capture value from customers to create profits and customer equity Design a customer-driven marketing strategy Build profitable relationships and create customer delight Construct a marketing programthat delivers superior value 11. The Marketplace and Customer Needs 12. What Motivates a Consumer to Take Action?

  • Needs
  • Wants
  • Demands

13. Needs, Wants, & Demands

  • Need: State of felt deprivation including physical, social, and individual needs.
    • Physical needs:
      • Food, clothing, shelter, safety
      • (e.g., I am thirsty.)
    • Social needs:
      • Belonging, affection
    • Individual needs:
      • Learning, knowledge, self-expression

14.

  • Wants:Form that a human need takes, as shaped by culture and individual personality.
  • (e.g., I want a Coke.)
  • Wants + Buying Power =Demand

Needs, Wants, & Demands 15. Lets apply.

  • Consumers usually choose from a tremendous variety of products and services to satisfy a given need or want.
  • Consider your need for nourishment.
    • How does that need translate into differentwants?
    • What marketing offers are available to satisfyyour needs that also appeal to your wants?
    • How might other consumers in different marketsegments meet the same need for nourishment?

16. Need / Want Fulfillment

  • Needs and wants are fulfilled through aMarketing Offer :
    • Some combination of products, services, information, or experiences offered to a market to satisfy a needor want.

17. Need / Want Satisfiers

  • Products:
    • Persons
    • Places
    • Organizations
    • Information
    • Ideas
  • Services
    • Activity or benefit offered for sale that is essentially intangible and does not result in ownership.

18. Products Can Be Ideas

  • Products do not have to be physical objects.Here the product is an idea -- protecting animals.
  • Products can also be people, organizations, places, or information.

Marketing in Action 19. Need / Want Satisfiers

  • Products:
    • Persons
    • Places
    • Organizations
    • Information
    • Ideas
  • Services
    • Activity or benefit offered for sale that is essentially intangible and does not result in ownership.
  • Brand Experiences:
    • . . . dazzle their senses, touch their hearts, stimulate their minds.

20.

  • Brand Experiences:
    • . . . dazzle their senses, touch their hearts, stimulate their minds.

21.

  • Brand Experiences:
    • . . . dazzle their senses, touch their hearts, stimulate their minds.

22. Lets Talk! Does the ad shown at right promote consumer experiences?Explain. Offer a different example ofa current advertising campaign that promotes a consumer experience. Do you believe the campaign is effective?Why or why not? 23. Marketing Myopia

  • Marketing myopiaoccurs when sellers pay more attention to the specific products they offer than to the benefits and experiences produced by the products.
  • They focus on the wants and lose sight of the needs.

24. Marketing in Action Focused on selling prerecorded CDs, the record industry missed early opportunities to partner with music downloading services and manufacturers of digital MP3 type recording devices.Marketing Myopia in the Recording Industry 25. How Do Consumers Obtain Products and Services?

  • Exchanges:act of obtaining a desired object from someone by offering something in return
  • Transactions:trade of values between two parties (usually involve money and a response)
  • Relationships:building long-term interactions with consumers, dealers, distributors, and suppliers

26. What is a Market?

  • The set of actual and potential buyers of a product.
  • These people share a need or want that can be satisfied through exchange relationships.

27. Modern Marketing Systems

  • Main elements in a modern marketing system include:
    • Suppliers
    • Company (marketer)
    • Competitors
    • Marketing intermediaries
    • Final users

28. Elements of a Modern Marketing System 29. To summarize what we have discussed so far

  • Why is understanding customer wants so critical for marketers?
  • How are the concepts of value and satisfaction related to each other?
  • What is the difference between transactions and relationships?

30. Marketing Management 31. Marketing Management

  • The process of plan

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