MPTE Lecture 1-SP2-15 JD KEY PDF

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Welcome to Marketing

Principles: Trading and Exchange Week 1

Agenda for today

– General introduction to the course – Content - based on Chapter 1 from your textbook – Tutorials and assessment

Your lecturer team

Vivien Chanana

Assoc. Prof. John Dawes

Prof. Larry Lockshin

Text book (yes, you need it) • Sharp, B. 2013, Marketing: Theory, Evidence, Practice, 1st Edition, Oxford University Press, South Melbourne • With this you get access to the publisher’s web site and o-book: • There is a code at the back of the book, you enter the access code supplied and register • Good for revising and self help questions

Communication • Email contact for course-related issues: • [email protected] • Contact your tutor directly in the first instance • For any confidential issue, feel free to email: • [email protected]

Our philosophy on lectures … • Is that we want you to attend • Your probability of passing is higher • Your probability of being happy with the course is higher • We will try to make it interesting • And we will induce you by limiting some on lecture slides

Focus on Evidence based marketing Marketers make and review an enormous range of decisions, They affect whether the firm will thrive or fail. Such decisions include: Should we offer a particular product or service? Which market should we target? What price should we charge? What different price should we offer to different customers? At different locations? At different times of the year? Should we advertise on television? On which networks? When? How often? What should the advertisement say? Or, invest in Search, … and how much ? Who should be our agent or retail partner in delivering the product or service? In which locations? To which customers?

Marketing may be well paid and exciting...but someone has to do it Marketing requires people with creativity, insight and analytical ability. The study of marketing explores how buyers buy and what firms do. ! ! ***************** Sometimes marketing seeks to bolster customer demand. Sometimes marketing has other goals - like what ?

Marketing • Marketing career - - intellectually challenging and financially rewarding • Mkt. qualification – opportunities to work for all sorts of organisations around the world.

Marketing may be well paid and exciting...but

Th an pr

A Changing Scenario (for marketers)

Markets are competitive, global and complex. Consumers are becoming wealthier and better educated, with better access to information, so they have higher expectations.

The rise of marketing The modern economy depends on trade. Marketing professionals are the people that oversee that trading. They also plan and research it, and compete against one another to deliver offerings to the market. As a result, products and services get produced that consumers actually want to buy, at a price they can pay. Marketing is trading—buying and selling.

Marketing Marketing - in a basic sense - began thousands of years ago when human beings made the transition from being hunter-gatherers to farmers. The surplus crops had to be stored, counted and guarded, and these crops could be traded for other desirable goods and services (marketing !). Trade meant that people’s jobs became ever more specialised.

Trajans market, Rome

http://www.ancient.eu/article/638/

Marketing - a long time ago

Okonkwo, “Luxury Fashion Branding” 2007.

Marketing … think about this In Adelaide - every day - a million plus people eat lunch. A million people fed - more or less with what they want. Almost limitless variety on offer. Thousands of producers, suppliers, retailers - all buying and selling from each other. And somehow it WORKS !! How that would work if it were centrally planned ?

Two types of marketing professional •

There are two sorts of marketing professional –

Those who do • • • •

someone who spends most of their time doing things to promote and sell their company’s brands. makes brochures, web pages, promotional material and price lists. commission designers, advertising and media agencies. organise promotion events and in-store promotions. They collate and report sales figures and market research findings.

Senior personnel • • • •

makes informed marketing decisions and budget allocations design marketplace experiments and market research analyse data constantly learn which marketing strategies work better than others in which situations

Marketing science Marketing science -the study of marketing which seeks to develop scientific laws and patterns that repeat under known conditions is the study of marketing—both buying and selling. It seeks to develop generalised knowledge to inform evidence-based marketing. So that decisions are based on reliable, generalised knowledge about how the world works, how buyers buy and how market interventions work.

Marketing science Some marketers belie predictable in marketin But if this really were t would be impossible fo anyone, to do their job It turns out that there a in marketing, just as there are in the rest of the physical and social worlds.

Examples 14" 12" 10" 8" 6" 4" 2" 0" 0.0%"

10.0%"

20.0%"

30.0%"

40.0%"

50.0%"

60.0%"

%$buying$brand$at$all$$

1000 No. of Households

No.$%mes$they$buy$it$in$a$year$

'Double$Jeopardy'$effect$=$Yoghurt,$UK$ 16"

Buying Freqency Distribution: Magner's cider, UK

500

of those who bought it, most bought it only a bit

0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 How many purchases per household, in year

Marketing metrics and market-based assets Marketers use metrics to determine the health of their brands What do we mean by metrics ? Answer:

Marketing metrics and market-based assets • Examples of marketing metrics commonly used by marketing managers are: – sales (in units or dollars) – profit contribution per sale – market share (in units or dollars) – percentage of sales sold …………………….. ? – percentage of repeat sales – percentage of satisfied customers – number of …………… ?

Marketing metrics and market-based assets – Further examples of marketing metrics commonly used by marketing managers include: – brand awareness (percentage) – average number of ? – Total advertising spend – Number of customers exposed to advertising – Average number of advertisement exposures – Number of distribution outlets – Sales per outlet

Marketing Interventions

Marketers intervene in the marketplace, by changing what is commonly called the ‘marketing mix’: the Product or service Pricing Advertising and communication Distribution

(promotion) (place)!

The marketing mix is often called ‘the 4Ps’: product, price, promotion and place.

Marketing metrics and market-based assets – So ….. – These Marketing interventions are the actions that marketers carry out in order to meet strategic goals and grow their brand (such as a new advertising campaign) ! ! – These don’t just deliver sales today; they also contribute to the maintenance and building of market-based assets that determine the likelihood of future sales.

Marketing metrics and market-based assets

– Two principal market-based assets are!

m….. availability and ! p……. availability. ! – Together they determine how easy a brand is to buy for more people, in more situations – Market-based assets constitute much of the value of any successful company.

M

availability and

availability

• M availability: The likelihood of a brand being noticed and or thought of in buying situations

• P availability: How often the product or service is literally available in a buying situation

Customer needs and wants • One of the key roles of marketing people is to help the organisation understand customer needs and how these translate into wants. • Market research, observing and surveying customers, is therefore a very important responsibility of the marketing department.

Example

Sustainable marketing Sustainable: Able to be maintained perpetually The aim of sustainable marketing is to provide long-term customer satisfaction. ! To do that, a firm must ensure both that their business model is financially sustainable and that customer demand is sustainable. ! A company must also consider the effect of the production, marketing and consumption on society and the environment. Examples ??

What we’ll be doing during the course Week

Topic

1

Introduction

2

The Marketing Environment

3

Buyer Behaviour

4

Customer Segmentation and Targeting

5 6

Market Research Goods and Services

7

Pricing And Discounting

8

Retailing and Shopping

9

Social Responsibility and Ethics

10

Advertising & Media

11

Global Marketing

12

Strategic Marketing and Planning

13

Review

Course outline! • Please READ IT !!! • It gives you all the tasks you need to do and when you need to do them

Assessments • Individual Assessment (X2) is based on interpreting a news article about marketing ** we’ll give you a model answer to discuss next week in tutorial (see web site) • Group Assessment is based selecting one marketing issue from one real world company • Oral presentation and written report • Tutorial assessment is based on short quizzes and participation • There will be 8 quizzes, the 5 best count, you MUST pass 3. • Final exam worth 50% Show an example !

Assignments • When you do your assignments it must be “your own work” • All assignments have to be submitted using AssignIT, tested with plagiarism software • When you submit, you state it is your own work • See the section on plagiarism in your course outline • Information on the course - see the moodle ! learnonline site for MPTE

What do you do next ? • Read the first chapter of your text • Visit the course website and familiarise yourself with it • Look at the newspaper articles for assignment 1 (pick one) • Attend your tutorial and form into groups

Studying at Uni • Uni is different from high school or TAFE • Skill development is important, but not often directly provided • Learning is self-directed with assistance from the Course Coordinators and Tutors • You will ‘learn how to learn’ • UniSA - Applying knowledge- theory and empirical evidence

Studying at Uni • Responsibilities of the School: • Course coordinator: responsible for design and delivery • Course outline (syllabus): details of dates and assessment • Course materials: specific readings and other activities • On time lectures and tutorials • On time help: when asked for • Fair and timely marking of assignments and exams

Studying at Uni • Responsibilities of the Student: • Organise enrollment/withdrawal for lecture and tutorials • Attend lectures and tutorials, or external contact • Allocate sufficient time for assignments • Turn in all assignments on time (no exceptions)

• Responsible team member • Inquisitive and self motivating...