Marketing lecture 1 and 2
What is marketing
Understand consumers
Identify their needs
satisfy them
Goals
Attract new customers
keep customers
Processes
Technical
4P
Price
product
promotion
place
Social
Behavior pattern of customer
custom
Attitudes
values
Simple marketing model
Understand the marketplace
Design customer driven marketing strategy
Delivers superior value
Build relationships
capture value from customers to create profits
Factors
Controlable
uncontrolable
social
natural
economic
technologic
political and legal
competitive
4P
Marketing
International
global
origins
Domestic
Export
Differences with domestic
Multilingual
many currencies
less knowledge
More unstable
complex regulations
Cultural differences
Companies
International
Multinational
Global
Transnational
no investment outside of home country
multiple location and multiple functionning
multiple locations and one functionning
no home country
why international strategy
increase sales and profit
better serve customers
access to lower cost
optimize sourcing activites
confront competitors
Global drivers
Advances in technology
Internet
new transportation systems
same everywhere
No adaptation
Sustainable
5P
Planet
People
Peace
prosperity
Partnership
Life cycle assesment
click to edit
takeaways
Sustainability is about balance
Social
economical
environmental
be selective
can be contradictory
Individual contribution is good but not enough