Current Marketing Issues Seminar BA 635 Dr Ed
Current Marketing Issues Seminar BA 635 Dr. Ed Forrest
E Telephone: (Office) 786 -4161 (Cell) 854 -8784 Email: afejf 1@uaa. alaska. edu W 3 site: http: //faculty. cbpp. uaa. alaska. edu/afef/
g n i h t y r e v E e n i l n is O 3
Tonight: üDiscuss the Defining üComponents of our Seminar: ü “Current Marketing Issues ”
What is Marketing? 5
Everybody is a Marketer: l Everybody promotes themselves…. l Packages themselves …. . l Everybody has 6 their price……
& Always been Marketers Innate sense of exchange l 1, 000’s of years… bartered & traded “branded ” goods & services l 7 I’m t i g n i l cal HOT “The k n i h t I e b t h g mi better Dawn of Marketing”
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The Evolution of “Marketing” From: Specific Function… To: General Orientation….
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…, 11 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 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
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 19 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’s new definition reflects a broadened focus -l Was focused on short term profitable transactions… l l Was focused on capturing new customers…. l l Now use integrated strategy w/ all points of contact Was segmented on geo/demographic variables l l Now focus on keeping existing customers Was focused on mass- media advertising. . . l l Now look at customers' lifetime value Now use all relevant variables, especially behavioral variables -- usage rate & loyalty Performance was measured by financial metrics… l Now also measured strategic & customer-satisfaction
Marketing > Function =An Orientation “Marketing is… …the whole business seen from the point of view of its final result, -from the customers’ point
Changed focus--resulted in restructuring: l Company was organized by product units. . . l Now organized by customer segment l The marketing department did the marketing… l Now everyone does some marketing l Company was the unit of analysis. . l Now whole value chain is unit of analysis l Had individual / hierarchical work
Marketin g Next Step- ID the issues…
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 Socialnomics
Online Ad Spend to Overtake TV by 2016 FORBES: Tech | 8/26/2011
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?
Major Marketing Issues: 2012 l #5: How do I master the use of specific social media platforms? l #6: How do I effectively find my target audience with social media? l #7: What are the best practices in social media marketing? l #8: How do I use social media in niche markets?
the keyword has changed… For anyone going into business these days
The New word is Algorithm
Algorithms derived via. . . the process of obtaining an optimal or “Analytics” realistic decision based on existing data.
New Marketing Mgt. Tools & Technologies all about capturing, generating, analyzing, leveraging DATA 08/20/11 Why Software Is Eating the World
• Six decades into the computer revolution • four decades since the invention of the microprocessor • two decades into the rise of the modern Internet ----all of the technology required to transform industries through software finally works and can be widely delivered at 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, is a software company • Today's largest video service by number of subscribers is a software company: Netflix • Today's dominant music companies are software companies, too: Apple's i. Tunes, Spotify , Pandora • Today's fastest growing entertainment companies are videogame makers • Photography, of course, was eaten by software long ago. • Today's largest direct marketing platform is a software company— Google • Today's fastest growing telecom company is Skype, a software company
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 or VRM Customer Intelligence Customer service - contains ISO standards • Lead Mgt • Sales Force Mgt Data management • Digital Asset Mgt • Web Content Mgt • Marketing Resource Mgt • Marketing Operations Mgt
Competencies Needed by Todays Marketers… Traditional Skills ¢ Sales mgt ¢ Advertising mgt ¢ Sales promotion mgt ¢ Marketing research ¢ Pricing PLUS: ¢ CRM -Customer relationship management) ¢ PRM- Partner relationship management ¢ MRM-Marketing Resource Mgt. : Database Mgt & Datamining l Lifetime Profitability analysis by segment, customer, channel ¢ IMC-Integrated marketing communications; Public relations -(including event & cause sponsorship, buzz marketing)
- Slides: 63
