SENECA COLLEGE, TORONTO

MRK 106,MARKETING  SECTION A As Taught by Prof. Tim Richardson School of Marketing and e-Business, Faculty of Business, During the Sept - Dec  2005 term

Chapter 1 The 10th ed. text uses the example of  Mountain Equipment Co-op  www.mec.ca

The course, and this textbook, emphasize that "... marketing is much more than just selling and advertising - rather marketing is a very broad set of activities required to ensure that consumers can get the products and services they want and need"      MEC does little advertising - the sales focus is on each customer as an "ambassador".  MEC focuses on helping people find the correct product rather than convincing them about a specific brand

10 ed., text, page 4  "Marketing - a set of decisions and processes that every organization uses to carry out an exchange with others, both inside and outside the organization"

Marketing and you  . When we talk about the importance of marketing in the company, we are trying to say that in an economy stressed by layoffs and globalization, it is good to be with the marketing dept. cause they are the last to be laid off - you need marketing people cause they are the people who bring money into the company.  WTGR Canada is a very multi-cultural country selling products to new Canadian requires good marketing techniques and an appreciation for global cultural awareness there are a lot of new jobs in marketing, especially to new Canadians There are many different and varied jobs in marketing personal selling advertising dreaming up kewl TV commercials and weird concepts package design transportation and shipping storage and warehousing marketing research surveys, questionnaires product development thinking of the totally new stuff wholesaling retailing

Micro or Macro Marketing  page 7-8 10th edition text  Micro-Macro Marketing not discussed in the 11th edition, Chpt 1   . When you take this course, you are taking micro marketing - if you took a course on macro marketing, it would be about the entire economy of a country and the policies that the government make so the whole  economy does stuff.  WTGR Micro-Marketing - the performance of activities that seek to accomplish an organization's objectives by anticipating customer of client needs and directing a flow of need-satisfying goods and services from producer to customer or client  translation by witiger  !!!!  things your company does -         - according to what you are supposed to do -                     - and thinking about what the people want -                                   - so you can do the things to get customers the stuff they want - ! ! !  Macro-Marketing - A social process that directs an economy's flow of goods and services from producers to consumers in a way that effectively matches supply with demand and accomplishes the objectives of society  translation by witiger  !!!!  the way the whole country has companies selling stuff to customers                   - and the government hopes it is all done in a way with no big mistakes -  .  . The Micro-Macro Marketing Dilemma.   http://people.senecac.on.ca/tim.richardson/MRK106-9th-Edition/Chpt1/sld035.htm If the government let companies run things according to the micro-marketing theories - they might do things which might be good for their profits, but bad for the customers, eg. it would be cheaper for car manufacturers to make cars without seatbelts - but the gov't says safety is important to they pass laws making it a requirement for mfgs to impliemtn such safety things.  WTGR

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Marketing Strategy composed of 1 - Target Market - a group of homogenous customers 2 - Marketing Mix (the marketing mix being the 4 p's)      - the controllable variables         - the things you can do something about product - you can change it, add new features price - you can lower it, raise it promotion - you decide the advertising place - you decide where it is sold the things you cannot do anything about are the 5 environments within which marketing exists

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clicking on this screen capture takes you to the Marketing Plan slides for Chapter 2 The Marketing Plan - part of the Marketing Strategy - part of the Marketing Program - important diagram, top of page 42 in text   TARGET MARKET + = MARKETING STRATEGY MARKETING MIX MARKETING STRATEGY + = MARKETING PLAN TIME DETAILS MARKETING PLAN + = A FIRM'S WHOLE MKT PROGRAM OTHER MKTG PLANS .  . So if someone asks you  "What is a Marketing Strategy?", you can tell them it's the Target Mkt + the 4Ps.  If someone asks you  "What is a Marketing Plan?", you can tell them it's the Marketing Strategy + the Time related details  If someone asks you to develop a whole marketing program for a firm, you put together several marketing plans for all the different products.  WTGR .

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Chapter 2

TARGET MARKET + = MARKETING STRATEGY MARKETING MIX . The phrase "Marketing Strategy" has become increasingly important in business. In the 1990's, people used the words "Marketing Strategy" all the time without specifically implying the propr meaning of the word. In some cases, it has become more important to use the term properly and a number of newspaper stories talk about how companies need to have a good "Marketing Strategy" - because,,, without one, they are in big trouble.  WTGR . In the National Post Sept 23-27 there was a six part series on "Expanding your Business" In the Sept 23rd installment there was a story on page SR1 titled "Successful Marketing is no Secret" - this story, by Tim Renshaw,  dealt intensively with the term "Marketing Strategy" - there are many good quotes frm this article which match the material in Chpt 3 and Chpt 8 of this course. - because of the particular usefulness of this article, we have included the full text available at the link below - you should read this  www.witiger.com/marketing/article~marketing~strategy.htm the following text comes from the Sept 23rd, 2002 story "Marketing strategies for start-up businesses are hit-and-miss affairs.  Unfortunately for a large percentage of those businesses, it is more miss than hit. Up to 40% of Canadian businesses fail in their first year. By year four, that rate has jumped to as high as 70%, according to Statistics Canada. Key among the reasons  behind business failure is marketing." "David Frey, president of Marketing Best Practices Inc., of Houston, Tex., says it should be the first element of any business plan. "Your marketing plan is where you prove your concept," he says.   MARKETING STRATEGY + = MARKETING PLAN TIME RELATED DETAILS "This involves thinking through such questions as: "Does my market want my product or service? Do I have proof that my market will pay for my product or service?"   . meaning ... have I done any target market segmentation to focus on people that want my stuff.  WTGR . What competition will I face and how will those companies respond? If you can't sell it, you shouldn't produce it," he says.   . meaning ... have I considered the impact of the environments, particularly the Competitive Environment.  WTGR . A marketing plan is "a recipe for getting it right," Ms. Bishop says. That recipe should include goals, marketing tactics and specific actions to execute both.  . . This is why we talked about GOPST in class Goal Objective Plan Strategy Tactics.  WTGR . "It should be aimed at a specific customer and be grounded in sound research."   . which is why we are going to do Chpt 8.  WTGR . The key is to listen to the customer, to what the marketplace is saying and to what the competition is saying. "Your business ultimately depends, not on customer satisfaction but on having them return as loyal customers."   . which is why we talked about the Marketing Concept in Chpt 1. WTGR .

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ROI - Return on Investment International Opportunities page 53 10th edition

Strategic Business Units p. 55 (Skunk works)

International Opportunities p. 55-56
 - international business risks - see
 http://www.witiger.com/internationalbusiness/politicalrisk.htm
 

SWOT, noted on top of page 48 in 9th edition, in the 10th edition, this is in Chpt 19 on page 591

• Strength
• Weakness
• Opportunities
• Threats

Chpt 3 in the 11th edition 4 types of opportunities to pursue Marketing Strategy Planning Process Market Segmentation Differentiation and Positioning SWOT analysis Defining the Market Market Segmentation

How well does a brand image stick in your mind? On pic is a Harley Davidson, Sportster model, the other is a Suzuki Intruder. Both bikes have the same sized engine. Which is the Harley, - the pic on the left?, or the pic on the right? + review of Chapter 1 Harley Davidson is a good CASE STUDY of how a company responded successfully to the changing Environments