Marketing Ch. 1
Marketing Ch. 1 Mkt 3010-001
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This 3 page Class Notes was uploaded by Hannah Stephens on Wednesday January 20, 2016. The Class Notes belongs to Mkt 3010-001 at Clemson University taught by Carter Willis McElveen in Spring 2016. Since its upload, it has received 156 views. For similar materials see Principles of Marketing in Marketing at Clemson University.
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Date Created: 01/20/16
Marketing: Product Placement • Where does it happen? o Music, movies, TV shows, video games, books • Types of Placements o Visual— i.e. A Starbucks cup in the picture o Audible—i.e. Talking about it o Use—Use the product o ***Integrated—The most effective!! i.e. Integrated in the story line, appears as a natural thing o Virtual Placements—Computer puts it in • How does it happen? o Can just happen but artists are very savvy about it! ▯ Get money for product placement o Very secretive and done behind the scenes • More Exposure: Repeated exposure to a brand=More liking for brand • Associative Networks: Images and associating with the characters of story Catalyst for Product Placement • Channel Surfing, flipping o People don’t watch commercials, brand everything on shows, football fields • Advent of TIVO and DVRs • Fragmented Media: Cable and satellite channels, Internet, Netflix • Economical: Cheaper for company to give away products to be used in a movie than production costs for commercials far exceeds placement • Permanence: A placement is forever, including the DVD release • Classic Movie Examples o ET—Reese Pieces o Back to the Future—Nike and Pepsi o Risky Business—Ray Ban Marketing: Chapter 1 • Important Note: Videos in class are fair game for tests! Teacher not likely to ask questions from “call out” boxes in book. • Overview of Marketing: o Example: Apple ▯ CEO: Tom Cook ▯ Marketing Company—Named Marketer of the Decade ▯ Has changed the way advertisers reach customers! ▯ Their Advertising Legacy • Began in 1984 • First technology company to advertise in Super Bowl! • The Brand—White earbuds, “easier to use,” customer service, pride themselves on quality o Apple’s Marketing Secrets ▯ Packaging—Is perfect, very simple; no user guide ▯ Don’t sell products, people buy what other people have ▯ Never be the first to market, make something good great! ▯ Empower Early Adopters • To be brand evangelists • Brand loyalty ▯ Their messages are very memorable ▯ Surprise and Delight Your Customers! • Keep product plans very secret ▯ Product placement everywhere • In movies, TV shows etc. o Marketing—(P. 4 on textbook) “Marketing is the activity, set of institutions, and processes for creating, capturing, communicating, delivering and exchanging offerings that have value for customers, clients, partners and society at large.” -‐American Marketing Ass. o Components of Marketing ▯ Creating • Collaborating with suppliers and customers • Create offerings that have value to the customer ▯ Communicating • Describing those offerings • Learning from customers o Big Data o Loyal Cards ▯ Delivering • Getting those offerings to the consumer • In a way that optimizes value ▯ Exchanging • Trading value for those offerings • The 4 Ps of Marketing—The Marketing Mix*** o Price o Product o Place o Promotion • Product—i.e. Get a ticket o Creating the offerings ▯ A lot of intangible things ▯ Whole, entire experience is part of the product • Price o Capturing the value of the product • Place o Delivering*** (the experience to the customer) o Getting the goods to the customer • Promotion o Communicating the value o Until a few years ago, Clemson football marketed just by word of mouth o Marketers put videos out for recruits, not for the public o Play up that “we’re the underdog”, “all in,” “We’re fun” i.e. Videos of Dabo dancing • Value o Fundamental Purpose of Marketing** ▯ Create Value • Benefits ▯ Firm, partners, customers and society ▯ Co-‐creation ▯ Profitable Exchange • Value=Benefits Received-‐(Cost + Hassle) • The Marketing Concept o Philosophy underlying everything marketers do o Seek to satisfy needs and wants • History of Marketing’s role 1. Production Oriented Era (i.e. Model T-‐Ford but only in black) 2. Sales Oriented Era (i.e. Put sales force behind any product and sale it using aggressive and pushy sales tactics) 3. Market Oriented (Customer is king and always right) 4. Value Based Marketing Era (Creating value) • Value Based Marketing 1. Customer Value a. Offer products that perform b. Earn trust c. Avoid unrealistic pricing d. Give the buyers the facts e. Offer organization wide commitment in service and sales support f. Co-‐creation 2. Customer Satisfaction a. Very important for loyalty • Who Engages in Marketing? o For-‐profit companies ▯ Defined by customers ▯ Defined by function o Nonprofit Organizations o Individuals • Marketing is NOT: o Just buyers and sellers exchanging money o Simply about making a profit o A random activity ▯ The marketing plan
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