Principles of Marketing MKTG350 Winter2003

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Principles of Marketing MKTG350Winter2003

• Carl Obermiller

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Professor Carl Obermiller (Pigott 502,
296-5746, carlo_at_seattleu.edu)   Office Hours
before or after class or by appointment   Class
Section 1, T/TH 115, P 304, Section 2, T/Th, P
102.   Class website http//classes.seattleu.edu
/business/mktg350/obermiller/   Text Principles
of Marketing Activebook, Kotler and Armstrong,
Prentice Hall.
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Grading
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schedule
1-7 introduction 1-9 planning, chs.
1-3 1-14 strategy, chs. 7 and 18
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Introduction to Marketing

• The two meanings of marketing
• The Marketing Concept
• Marketing management

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What is Marketing?

• Process by which individuals and groups obtain
  what they need and want through creating and
  exchanging products and value with others.
• Simply put Marketing is the delivery of customer
  satisfaction at a profit.

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Core Marketing Concepts (Fig. 1-1)
Needs, wants, and demands
Markets
Products and services
Value, satisfaction, and quality
Exchange, transactions, and relationships
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Modern Marketing System (Fig. 1-3)
Suppliers
Competitors
Company (Marketer)
Marketing Intermediaries
Environment
End User Market
Environment
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The Marketing Concept

• What is the proper guiding philosophy for a
  business?
• Focus on
• Product
• Production
• Selling
• Marketing
• Society

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Marketing Management Philosophies

• Consumers favor products that are
• available and highly affordable.
• Improve production and distribution.
• Consumers favor products that offer
• the most quality, performance, and
• innovative features.
• Consumers will buy products only if
• the company promotes/ sells these
• products.
• Focuses on needs/ wants of target
• markets delivering satisfaction
• better than competitors.
• Focuses on needs/ wants of target
• markets delivering superior value.

Production Concept
Product Concept
Selling Concept
Marketing Concept
Societal Marketing Concept
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Marketing Management
Optimize controllable variables for a given set
of uncontrollable factors
Exchange Theory
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Conclusion

• Marketing Concept defined
• Maximize long run profit by integrating all
  business activities to the core objective of
  satisfaction of consumer wants and needs
• Why the marketing concept?
• Does marketing create needs?
• What are the goods and bads of marketing

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Tour the Activebook
http//myphlip.pearsoncmg.com/faculty/index.cfm