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