Marketing Basics & Fundamentals: Anne Leinovaara-Matomäki Turku University of Applied Sciences

Marketing Basics & Fundamentals
Anne Leinovaara-Matomki Turku University of Applied Sciences
MIND MAP Learning Diary Task
Create, draw, a mind map of the course theme / title. What it brings to your mind ??? What do you know about the subject ? What would you like to learn during the course ? What is knownany practical examples of your own ? What is new ? Any connections to other subjects, synonyms, definitions ? Boundaries, pros & cons, advantages & disadvantages ? Why do we study it ? Importance ? Meaning ? Etc.
Anne Leinovaara-Matomki
Marketing, Definitions
Marketing , Definitions What is Marketing
Marketing, Definitions What is Marketing?
Marketing , Definitions What is Marketing ?
Marketing is not and event, but a ___________. It has beginning, a middle, but never an end, for it is a ________. You improve it, perfect it, and even pause it. But you never stop it completely - Jay Conrad Levinson
What is not Marketing ?
Marketing is not the art of finding clever ways to dispose of what you make. ---------------------------------------. It is the art of helping your customer become better off. The marketers watchwords are quality, service and value. -(Philip Kotler) Customer does not necessary want to buy what we are selling !
Learning Diary
Task: Find out still some other Marketing definitions.

Try to comment on your own what is typical and common for these definitions, what is interesting for you etc. own viewpoints .
Marketing as a Business Philosophy

1) 2) 3)
Give examples of the above (learning diary).
Why is Marketing important ?
What do you think? Why to study Marketing ?
The Objectives of Marketing
1) 2) 3) 4) 5) 6) 7)
How Marketers fullfill the Objectives
There are many ways and many tools and methods Like 4 P, Marketing mix etc. ,which are learnt during the course Marketers must success in pricing, delivery, promotion, product development, finding out the demand and creating it etc., etc. Nowadays customers are becoming more and more demanding (empowered customers, consumer movement, boycots etc.) so marketers must be innovative and able to change. Change or die.
Change of Marketing
Traditional view Marketing is one function of the company The goal is to sell Specialised professionals Product features are important Campaigns
Current view Way to think and do business The goal is to create a profitable customer relationships The whole organisation participates Continuous function Customer relationship marketing Societal marketing
Eras of Marketing
Production (& product) Prior the 1920s

Sales Marketing Relationship Networks.. now
Eras of Marketing, another set of terms
Marketing Mix 4 Ps + 3
________ ________ ________ ________ Processes (between customer and company and inside the company) People (personnel) Physical environment / evidence (things that customer will see)
Fields of Marketing Management

Leadership and Management Internal marketing Competition Marketing research Customer Consumer behaviour Production Pricing Distribution Promotion
Important tasks and parts of Marketing
Customer analysis , ___________, estimation of demand, __________, area evaluation etc. Selling (products, _______, _______, _________, ________, ________, ________ etc.) Note B-to-B and B-to-C aspect. Product and service planning (_____) Pricing (together with the __________) Distribution (_________)
Marketing , Marketing research Customer analysis
Customer ________ Consumer _________ Market ________________ Customer __________ Market ________________
Marketing, Selling
________ ________ ________ ________ Sales force management + training Customer relations Dealer + retailer relations
Marketing, R&D, Product and service planning
______ marketing ______ positioning __________ ________ features, and options ________ style etc. (colors, shapes, symbols) _________
Marketing, Pricing
D C C S M U W R
Learning diary / discussion
Think about some example company (e.g. a company whose customer you are) , and evaluate what prising methods they are using and why ?
Marketing, Distribution Channel
Warehousing Inventories __________ Coverage ____________ Sales territories Transportation (methods, modes, insurances, agreed terms e.g. Incoterms etc.)
Marketing, Opportunity analysis
Assessing ________ Assessing ________ Evaluating and estimating _______ _____/ _______ / ________ / analysis
Marketing, Competitor Analysis

Who are the actual competitors ? ___________________ ? Who are our most intense competitors? Less intense, but still relevant? ____________________ ? Can these competitors be grouped into strategic groups on the basis of their assets, competencies, strategies etc.? Competitors' ___________________? Competitors SWOT ? Who are the potential new competetive entrants ? What are their barriers to entry? Is there anything that can be done to discourage them (e.g. standards). Evaluating the competitors What are their objectives and strategies? Their level of commitment? _____________ ? Do they have cost advantage or disadvantage ? Their ________ and _________ strategy? Most successful /unsuccessfull competitors over time and why ? What leverage points ( our weaknesses or customer porblems or unmet needs) could they expoloit ?
Marketing Audit (SWOT)
Are markets ________ _________ ? Is the _______ _________ well among competitors? What is the ____________? (And the trend in it?) Are present _________ ___________ reliable and cost effective? Does the firm have an effective ________ and _____________ in general?
Marketing Audit
Does the firm conduct ______________? (What type?) Does the firm have an _______________, ________ and ________ strategy? What about _______in general ? (_____, ______) Are product _______ and _______ _______ good? Are firms products / ________ _________ appropriately?
Marketing Audit
Are marketing_______ and ________ effective? Do the firms managers have _______ _______ and ______ ? What about the ___________ systems?
Environment analysis FIVE FORCES
Five forces Excersise
Task / Learning diary: Try Five Forces analysis tool to another type of industry, e.g. airplane / travelling industry.
Keep in mind
The purpose of a business is to _____ _________ and to profit from it so there is only one starting point THE CUSTOMER. The customer ultimately defines the business. The business will start out with the ______, ______ and _______ of a customer. And it is not necessary to ________ but to _____ _______. So, find out who is the customer, where is the customer, what does the customer _____ and _____ ? And remember the market rarely is where the inventor first thinks it will be.
Fundamental aspects / questions
What is our business (_____, ______, concrete _______) systematic analysis of all existing products, processes, ______, _______, distribution channels, value added, ________, _______ etc. (4 P) can only be answered by looking at business both from _______ and ______. Should not only be asked when company is in trouble. What will our business be _______________? What
Fundamental aspects
Take into account fierce competition and ever rapid changes (product life cycles etc. shorter life span) in many industries and branches (note on the other hand other possibilities, too). Need for ever increasing ________ (______ ______ solutions). Marketing
How to deepen the customer relationships more?
Business Plan
All the objectives (and previously said), must be formalized into a Business Plan ! _________ objective ________ + other resources (physical, human etc.) ________ objective ________ objectives _________ _________ (environmental questions, ethics etc.) Profit requirement (what ever the profit is e.g. NPOs).
Marketers and Prospects Who Markets ?
A marketer
, a prospect.
Core consepts
Needs, wants and demands (Maslows hierarchy of needs).
Different types of needs
1)
2)
(customer wants
( car whose
3)
4)
(customer expects
(customer would like
5)
(customer wants to be
Needs
Different types of demand
Marketers try to influence the level, timing and composition of demand to meet the organizations objectives. Different demand types require different actions and often medias as well. 1) 2) 3) 4)
Different types of demand
5) 6) 7) 8)
IN EACH CASE MARKETERS MUST IDENTIFY THE UNDERLYING CAUSE(S) OF THE DEMAND !! (WHY)
4 P,
What
Product
is a product and a service ? Similarities, differences ? Definitions ?

Note: Marketing of goods, services, places, ideas, people, events, ideology, organizations, cities, countries, NPOs, projects, processes, information etc. .
4 P,
Product
Product: Service: Product- service combination (maintenance) Produce-service continuum: device that helps marketers to visualize the differences and similarities between goods and services
Classifying goods and services of consumer and business markets
Consumer products ,products destined for use by ultimate consumer Business products : those that contribute directly or indirectly to the output of other products for resale. Also called industrial or organizational products.
Types of Consumer Products
Convenience product:
Shopping product: Unsought product:
Types of Consumer Products
Specialty product:
GIVE EXAMPLES OF ALL THESE TYPES OF PRODUCTS (learning diary)
Examples of different types of consumer products
4 P, Product
When making product decisions company has to decide:
1) 2) 3) 4) 5) 6) 7) 8)
4 P, Product
Product is a bundle of tangible and intangible attributes that a seller offers to a potential buyer and that satisfies the buyers needs and wants.
Physical product (core product) Additional elements Service + Maintenance (importance all the time growing) Core product (problem solving elements, core benefits that consumers are really buying when they obtain the product), actual product (parts, quality level, features, design, brand, packaging etc.), Extended product (additional consumer services and Anne Leinovaara-Matomki benefits)
4 P, Product
4 P, Product
BOSTON
MATRIX is a tool to analyze the product portfolio !!! Product portfolio managing products through their life cycles (PLC)
4 P, Product Product line decisions
4 P, Product Product line strategy
Services
4 P, Product NPD New Product Development
New product development NPD Stages Relation to the R&D function
4 P, Product
BRAND Branding issues
4 P, Place ; Distribution, Channels

Decisions about: Physical and imaginary channels
1) 2) 3) 4) 5) 6) 7)
4 P, Promotion
Blending together various elements of promotion to communicate most effectively with the target market Promotional elements include: advertising, sales promotion, public relations, personal selling, direct marketing, product placement, sponsorship decisions, trade fairs, test marketing, on-the-spot marketing, business gifts, viral marketing, buzz marketing, guerilla marketing..lots of methods and modes..etc., etc.
4 P, Price
Decisions of methods of setting profitable and justifiable price.
Price
Price
Price; Prisoners Dilemma
Intense competitive rivalry can evolve into what is known as prisoners dilemma. In such situations, downward price moves by one competitor force follower moves by other competitors in order to minimize lost profits. Actually all competitors would be better of if none cut prices to begin with.
Learning Diary / Task
Think about some example company (e.g. a company whose customer you are) , and evaluate what prising methods they are using and why ?
Different types of Market situations, competition climates
Monopoly Monopolistic competition Oligopoly Oligopolistic competition
Markets
Traditionally market was a physical place where buyers and sellers gathered to buy and sell goods.(Market place, square). Economist description : collection of buyers and sellers who transact over a particular product or product class. Modern view : Five basic markets and their connecting flows / interactions.
Markets
Manufacturers go to the ___________ markets (tuotannontekijmarkkinat) (___________, ______, _______markets), buy the resources and turn them into _____ and ________, and then sell the finished products to ________________, who sell them to the _____________. Consumers sell their labor and with that money pay their goods. The ________ collect taxes from both the manufacturers and consumers and uses the money to to provide public services. Each nations economy and global economy consits of these complex interactions through exchange processes.
Markets
On the other hand, marketers often use the term Market to cover various groupings of customers. (Target market). In that view sellers are constituting the industry and the buyers are constituting the markets. E.g. Consumer markets, business markets, global markets, nonprofit and governmental markets.
Markets
Today we can also of course distinguish the __________ and __________ (digital, web etc. possibilities to buy). Sometimes also the term _________ is used to describe a cluster of complementary products and services etc. that are closely related.
Target market
Group of people toward whom the firm decides to direct its marketing efforts. Important to know this well when doing the segmentation and positioning. In a Marketing-Mix, company blends the four strategy elements of marketing decisionmaking Product, Price, Place, Promotion in a way that satisfies the chosen target markets.
Segmentation and Positioning + Perceptual Maps
How Business and Marketing is Changing
1) 2) 3) 4) 5) 6) 7) 8) 9)
The Holistic Marketing consept
More complete, cohesive approach that goes beyond traditional applications. Based on development, design and implementation of marketing programs, processes and activieties that recognizes that everything matters. Integrated perspective to the complexive issues. Four components: relationship marketing, internal markeing, integrated marketing and social responsinility marketing.
Four Ps and four Cs
Product, price, place, promotion Customer solution, customer cost, convenience, communication
Relationship Marketing
Relationship Marketing
Erillinen kalvosetti
Marketing, Competitor Analysis

Who are the actual competitors ? ___________________ ? Who are our most intense competitors? Less intense, but still relevant? _________________? Can these competitors be grouped into strategic groups on the basis of their assets, competencies, strategies etc.? Competitors ____________ ___________? Competitors SWOT ? Who are the potential new competetive entrants ? What are their barriers to entry? Is there anything that can be done to discourage them (e.g. standards). Evaluating the competitors What are their objectives and strategies? Their level of commitment? Cost structure ? Do they have cost advantage or disadvantage ? Their image and positioning strategy? Most successful /un-successfull competitors over time and why ? What leverage points ( our weaknesses or customer porblems or unmet needs) could they expoloit ?

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Marketing Basics & Fundamentals

Anne Leinovaara-Matomki Turku University of Applied Sciences

MIND MAP Learning Diary Task

Marketing , Definitions What is Marketing

Marketing, Definitions What is Marketing?

Marketing , Definitions What is Marketing ?

What is not Marketing ?

Task: Find out still some other Marketing definitions.

Marketing as a Business Philosophy

Why is Marketing important ?

What do you think? Why to study Marketing ?

The Objectives of Marketing

How Marketers fullfill the Objectives

Production (& product) Prior the 1920s

Eras of Marketing, another set of terms

Fields of Marketing Management

Important tasks and parts of Marketing

Marketing , Marketing research Customer analysis

Marketing, R&D, Product and service planning

Learning diary / discussion

Marketing, Distribution Channel

Marketing, Opportunity analysis

Marketing, Competitor Analysis

Marketing Audit (SWOT)

Environment analysis FIVE FORCES

Five forces Excersise

Fundamental aspects / questions

Marketers and Prospects Who Markets ?

Needs, wants and demands (Maslows hierarchy of needs).

Different types of needs

Different types of demand

Different types of demand

is a product and a service ? Similarities, differences ? Definitions ?

Classifying goods and services of consumer and business markets

Types of Consumer Products

Types of Consumer Products

GIVE EXAMPLES OF ALL THESE TYPES OF PRODUCTS (learning diary)

Examples of different types of consumer products

4 P, Product Product line decisions

4 P, Product Product line strategy

4 P, Product NPD New Product Development

New product development NPD Stages Relation to the R&D function

BRAND Branding issues

4 P, Place ; Distribution, Channels

Decisions of methods of setting profitable and justifiable price.

Price; Prisoners Dilemma

Learning Diary / Task

Different types of Market situations, competition climates

Monopoly Monopolistic competition Oligopoly Oligopolistic competition

Segmentation and Positioning + Perceptual Maps

How Business and Marketing is Changing

The Holistic Marketing consept

Four Ps and four Cs

Marketing, Competitor Analysis

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