Current Marketing Issues Seminar BA 635 Dr Ed

Current Marketing Issues Seminar BA 635 Dr. Ed Forrest (Office) 786 -4161 / (Cell) 854 -8784 Email: afejf 1@uaa. alaska. edu W 3 site: http: //faculty. cbpp. uaa. alaska. edu/afef/

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First, buyers are no longer paying much attention. Several studies have confirmed that in the "buyer's decision journey, " traditional marketing communications just aren't relevant. Second, CEOs have lost all patience. In a devastating 2011 3 study of 600 CEOs…. 77% have had it with all the talk about

Tonight: Address defining elements of course: What is Marketing What are the “Current Issues” Organize / Select Research Topics/Teams ….

g n i h t y r e Ev e n i l n O is 5

What is Marketing? 6

… Innate sense for marketing l For 1, 000’s of years… I’m t i g n i l cal HOT bartered & traded “branded ” goods & services 7 “The k n i h t I e b t h g mi better Dawn of Marketing”

Everybody’s a Marketer: l Everybody promotes themselves…. l Packages themselves …. . l Everybody has their price…… 8

The Marketing Process:

Strategic Planning Situation Analysis • Company • Consumers • Competitors Marketing Strategy P’s Growth & Competitiv e The Marketing Mix: Strategies G N • Conditions C Service TGT • PEST Positioni ng Strategy D E WM F 5 th p =p 2 p

Classic Functional Definition All activities performed in between: The Point of Production & The Point of Consumption

st 1 Formal Definition ~1919 *Marketing and Merchandising by Ralph Butler & John Swinney, l Marketing defined as ‘the manner in which the product is disposed of, the way in which it is distributed…, 12 through • Book distinguishes marketing from merchandising, • w/ marketing being something manufacturers do • & merchandising being the domain of jobbers; retailers.

Marketing Defined -1935 - “The performance of business activities that direct the flow of goods & services from

Marketing Definedas a Process- 1985 "The process of planning & executing the conception, pricing, promotion & distribution of ideas, goods & services to create exchange & satisfy individual &

The Latest Official AMA Definition (circa 2004)

l. . an organizational function & a set of processes l for creating, communicating & delivering value to customers l & for managing customer relationships in ways that benefit the organization & its stakeholders

Why the changed focus? What happened between 1985 & 2004 that made the AMA change the definition of marketing?

The AMA Rationale: “Technology & marketing been changing quite rapidly over last five to 10 years… Marketing should be customercentric -- not brand -centric" l 18 The 1985 definition was not encompassing enough. The new definition more clearly infuses the customer into marketing. "

Management Reorientation Focus on Consumer – Not product Long –Term Relationships Not Shortterm Sales

Marketing > Function =An Orientation “Marketing is… the whole business seen …. from the customers’ point of view. ”

“The aim of marketing is to know & understand the customer so well the product or service …sells itself. ” ~ Peter F. Drucker

“Marketing is too important to be left to the marketing department. ” The marketing department did the marketing… Now everyone does some marketing Company was the unit of analysis. .

Must Change Your focus & objectives: From: Average Consumer Customer Anonymity Standard Mktg. Mix Mass Production Mass Distribution Mass Advertising Mass Promotion One-Way Comm. Economies of Scale Share of Market All Customers Customer Attraction To: Individual Customer Relationship Customized Market Offering Customized Production Individualized Distribution Individualized Message Individualized Incentives Interactive Communication Economies of Scope Share of Customer Profitable Customers Customer Retention

Marketin g Next Step- ID the issues…

Ten Issues Marketers Should Have on Their 2012 Agenda | Special. . . adage. com/article/special-report. . . issues-marketers-2012. . . /231502/Cached – Here are 10 issues for marketers in 2012

Ramkhamhaeng University Institute for International Studies GB 635 Current Issues in Marketing Course Outline

London Metropolitan University MK 3 P 04 Current Issues in Marketing Syllabus l Developing criteria to evaluate marketing plans against selected issues. Creating appropriate research methods to investigate issues. Ethics and the practise of marketing l Sample issues: Green Marketing Consumerism Use of I. T. in marketing Brand Valuation Stereotyping in advertising

Marketing Issues- as delineated by 1999 UAA Syllabus… ØMarketing performance ØThe Creation of Customer Satisfaction & Value ØBuyer Behavior ØRelationship Marketing ØInter-firm Relationships in Marketing ØServices Marketing & Service Quality ØCompetition & Strategy ØMarketing and Information Technology ØMarketing Globally ØEthics and Legal Issues in Marketing

-On Any Syllabus, any Year or Day- One can find Issues of: or Day- One can find Issues of As it is üProduct Quality üService Quality üConsumer Confidence/Satisfaction üValue/Pricing Practices üFree/Fair trade üGlobalization üAdvertising (volume, veracity, political-correctness)

What’s most relevant. Depends on Your Perspective: MarketerØIssues = factors that affect sales ConsumerØIssue = factors that affect one’s sensibilities

Fact is--these & most issues… Are RE-CURRENT issuesthat Ebb & Flow w/ socio-economic events

We could- examine all these issues 1 by 1… Quite taxing & Just too Superficia l

“Yes… you seem to be suffering from a marketing issue” Examining only symptoms --not diagnosing the cause

Ergo the Real Question is….

Ergo the Real Where do marketing Question is…. issues com e from?

Marketing’s “utility”/value derived from its Facilitation of Exchange! Willing to sell Temporal Utility Spatial Utility Transactional Utility Marketing Willing to buy

Key Point: Keep Marketing in Perspective Anything/Everyth ing one does to facilitate exchange Whatever impacts Why- What- Where- When- How Exchange occurs… is (or becomes) an Issue…

Marketing Issues in Perspective Marketing - part of Business & Business - part of Society Marketing Business Society “Societal Change” creates “issues” for Business… which creates “issues” for Marketing

Thus- in order to identify- anticipate- understand Marketing Issues in particular One needs to identify-anticipateunderstand Societal Change in general

Society Defined: A group of humans broadly distinguished by: Ømutual interests, Øparticipation in characteristic relationships, Øshared institutions, & Øa common culture

In the final analysis marketing strategy is formulated to address… THUS- Patterns of/changes to: human interests, relationships, institutions & culture… …become marketing issues Hence- our search for marketing issues begins w/ examination of…

& what better time to study Societal Change …We are living thru one of the great periods of societal change in the history of humankind…

We’re in midst - next great Paradigm Shift… … in the way we live, communicate, work, produce &

An entirely new & increasingly complex ecosystem has emerged, which impacts the way people connect, engage, influence, --& are influenced.

Social Media Revolution

Major Marketing Issues: 2012 l l #1: How do I measure the effect of social media marketing on my business? #3: What are the best ways to sell with social media? l #2: How do I integrate and manage all of my social media marketing activities? l #4: How do I improve customer engagement with social media?

Online Ad Spend to Overtake TV by 2016

Social Media Not Only Issue:

the keyword has changed… For anyone going into business these days

The New keyword- Algorithm

marketer: Apply Tools & Technologies that generate, capture, analyze & leverage DATA

Data mining New Mrktg Skill Sets Database marketing E-crm Automated online assistant Sales force management system Business intelligence Sales intelligence Enterprise Feedback Management (EFM) Business Relationship Management Sales process engineering Partner Relationship Management (PRM) Comparison of CRM systems Predictive analytics Consumer Relationship System Employee experience management (EEM) Professional services automation software (PSA) Support automation Supplier relationship management Customer Experience International Customer Service - Customer experience transformation Vendor Relationship Management Customer Intelligence Customer service - • Lead Mgt • Sales Force Mgt Data management • Digital Asset Mgt • Web Content Mgt • Marketing Resource Mgt • Marketing Operations Mgt

• 6 decades into the computer revolution • 4 decades since the invention of the microprocessor • 2 decades into the rise of the modern Internet ----all the technology required to transform industries thru software finally works & can be widely delivered @ global scale In 2000. . the cost of a customer running a basic Internet application was ~$150, 000 a month. …same application today in Amazon's cloud costs ~$1, 500 a month…

Today: • The world's largest bookseller, Amazon • largest video service -Netflix • The dominant music companies Apple's i. Tunes, Spotify, Pandora • The fastest growing entertainment companies are videogame/software designers • The largest direct marketing platform—Google • The fastest growing telecom company is Skype • And Higher Education

I Will Create Jobs I Will Fix the Economy

Ultimately- Most Critical Competency = Ability to Act on Results of Analyses r e s i Ka