Changes in modern marketing

Editor's Notes

• #2: An: Good morning everybody! Today our group would like to give you a ppt on a very exciting topic…yah, Huyen, can u help me introduce our topic to everybody? Huyen: Yah, of course, An! First of all, let’s watch a video clip and then, guess what’s topic we’re going to discuss this morning^^, OK?
• #6: An: To begin, let’s look at the definition of marketing Marketing is the process by which companies determine what products or services may be of interest to customers, and the strategy to use in sales, communications and business development. [1] It is an integrated process through which companies create value for customers and build strong customer relationships in order to capture value from customers in return. [1]
• #7: Huyen: In fact, there’re many definitions of marketing coz experts still havent come to a final decision yet. But, in general, they all accept the concepts of core marketing. You can look at the slide. Here’s the illustration of core marketing concepts 1.NEEDS, WANTS AND DEMANDS: a.NEEDS: They include +basic needs for food, clothing, warmth and safety; +social needs for belonging and affection, and +individual needs for knowledge and self expression. b.WANTS: The form taken by a human need as shaped by culture and individual personality. An AmericaN needs food but wants KFC, French fries and a soft drink. A person in Mauritius needs food but wants a mango, rice, and beans. Wants are shaped by one’s society and are described in terms of objects that will satisfy needs. c.DEMANDS: Human wants that are backed by buying power. Given their wants and resources, people demand products with benefits that add up to the most value and satisfaction. An: 2.MARKETING OFFERS – PRODUCTS, SERVICES AND EXPERIENCES Some combination of products, services, information, or experiences offered to a market to satisfy a need or want. Thus, smart marketers look beyond the attributes of the products and services they sell. They create brand meanings and brand experiences for consumers. For example, Coca-Cola means much more to consumers than just something to drink does – it has become an American icon with a rich tradition and meaning. Moreover, Nike is more than just shoes; it’s what the shoes do for you and where they take you. Disney world is an experience; so is a ride on a Harley-Davidson motorcycle. 3.VALUE AND SATISFACTION: a.VALUE: Customer value is the difference between the values the customer gains from owing using a product and the costs of obtaining the product. b.SATISFACTION: Customer satisfaction with a purchase depends on how will the product’s performance lives up to the customer’s expectations. Marketers must be careful to set the right level of expectations, if they set expectations too low, they may satisfy those who buy but fail to attract enough buyers, if they raise expectations too high, buyers will be disappointed. Customer satisfactions are key building blocks for developing and managing customer relationships. Huyen: 4.EXCHANGE, TRANSACTIONS AND RELATIONSHIPS: Exchange is the act of obtaining a desired object from someone by offering something in return. Whereas exchange is the core concept of marketing, a transaction, in turn, is marketing’s unit measurement. A transaction consists of a trade of values between two parties. One party gives X to another party and gets Y in return. For example, you pay sears $350 for a television set. Marketing consists of actions taken to build and maintain desirable exchange relationships with target audiences involving a product, service, idea or other object. 5.MARKETS: A market is the set of all actual and potential buyers of a product or service. These buyers share a particular need or want that can be satisfied through exchange and relationships. The size of a market depends on the number of people who exhibit the need, have resources to engage in exchange, and are willing to exchange these resources for what they want.
• #8: An: Nobody can deny the significance of marketing in business. That’s the reason why all companies spend a lot of money on marketing. Look at McDonald, who spend $100m 4 mar. That’s really a huge amount in comparison with $200m 4 research n production.
• #9: Huyen
• #10: concentrate on increasing production, reducing costs, getting benefits through sales ( marketing focuses on producing ) A production orientation dominated business thought from the beginning of capitalism [ when? ] to the mid 1950s, and some [ who? ] argue it still exists in some industries. [ citation needed ] Business concerned itself primarily with production, manufacturing, and efficiency issues. [ citation needed ] Say's Law encapsulated this viewpoint, stating: "Supply creates its own demand". To put it another way, "if somebody makes a product, somebody else will want to buy it". This orientation rose to prominence in an environment which had a shortage of manufactured goods relative to demand, so goods sold easily. [11]
• #11: concentrate on quality, innovate products, improve quality, make benefits through sales ( marketing focuses on products)
• #12: promote and create active sales, get benefits by fast capital-returning and high sales-rate
• #13: concentrate on activities connection ( produce-sell-advertise..), specify customers’ needs, get benefits through customers’ satisfaction and loyalty ( focus on customers’ demand/ needs)
• #14: concentrate on balance between customers’ satisfaction, company’s benefits and society’s long-term benefits ( focus on customers’ satisfaction and society’s benefits Societal marketing emerged in the 1960s. The societal marketing concept deals with the needs, wants and demands of customers: how to satisfy them by producing superior value that should satisfy the customers and promote the well-being of society. [ citation needed ] The producer should not produce products deemed hazardous to society. [ citation needed ] Societal marketing developed into sustainable marketing .
• #15: An: Along with the fast-growing industry n society, marketing has to change, as well, to adapt to the changing-environment surrounding it. Let’s have a look at the most important factors that contribute to the changes of mkt in this cent
• #16: -Globalization is an inevitable process in the 21st Century, and so is the cross-culturalization . In one hand, distinctions between national markets are not only fading in this cent but, for some products, will disappear altogether. This means that marketing is now a world-encompassing discipline. On the other hand, From a marketing point of view it is very important for marketers to realize that as the world becomes globalized the cultural imperative is upon us; markets in the 21st century are world and yet cross-cultural markets. To be aware of and sensitive to the cultural differences is also a major premise for the success in the 21st Century marketplace. -Internet & its popularity +back 2 The world in 1999, when we were abt 7 or 8 yrs old, can u tell me anything u can remember abt the internet at that time? Yah, it’s no surprise u have little memory not only bcoz we were so young but also bcoz at that time, internet was a total difference from today .No cable modems, no high speed bandwidth in homes .Dial-up connection in big hotels .Simple HTML interfaces .No Blackberry or Ipod or Iphone, no camera, USB or flash memory .No Google +The world today .ADSL connection .The domination of Social networks (My Space, FB, Twitter) in our daily life .Iphone, Blackberry… 3G connect to the whole world easily .Google -Global financial crisis
• #18: After-sales Service