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Managing The Marketing Mix
                    Lecture 1:
 Introduction to Marketing and the Marketing Mix


                     Dr. Martin J. Liu
                  Lecturer in Marketing
            Nottingham Business School China
Module Objectives

Brief Introduction   • The concept of marketing and marketing’s role in the
of Myself
                       firm.
Module Outlooks      • Understand marketing mix decisions
Lecture 1            • Understand the role of product, price, promotion,
Objectives
                     • and place (the 4 P’s) and extra 3Ps for services.
What is Marketing?   • Be able to critique the marketing mix and investigate
The Marketing Mix      the key marketing challenges
(the 4 P’s)

Summary
Module Design

Brief Introduction   Module Delivery
of Myself            • 10 one-hour lectures + 1 two-hour compulsory seminars.
                     • Main text book: Jobber (2010) Principles and Practice of Marketing,
Module Outlooks         4thedition, McGraw-Hill, Maidenhead
                     • Key Readings: academic journals are essential and are detailed in the
                        module outline.
Lecture 1
Objectives
                     Seminar Presentation
                     • You are asked to form a group of 4 -5 people in your allocated seminar.
What is Marketing?
                     • Each presentation should last in between 25 – 30 minutes.
                     • Attendance of seminar presentations are compulsory. No other excuses
The Marketing Mix       will be accepted except sickness. Failing to attend seminar will result in
(the 4 P’s)             failing of this module.
                     • Detailed Presentation guideline will be posted next week by David Todd.
Summary
                     Assessment
                     • Examination (100 %)

                       Lecture materials and module outline can be found at:
                       U:3rd Year ShareBusiness SchoolSemester 2 0910Managing the
                       Marketing Mix
Contact Information of the Lecturers

Brief Introduction
of Myself
                     Module Convenor:
                     Email:
Module Outlooks
                     Martin.Liu@Nottingham.edu.cn
Lecture 1
Objectives           Office Hours:
                     Every Wednesday, 12:30 - 2:30 PM at AB480
What is Marketing?

The Marketing Mix
(the 4 P’s)          Please make an appointment outside regular
                     office hours if you wish to come and talk to me.
Summary

                     Seminar Tutor:
                     Email:
                     David.Todd@Nottingham.edu.cn
Module Structure

Brief Introduction   1.    Introduction to Marketing and the Marketing Mix
of Myself
                     2.    Product and New product Development
Module Outlooks
                     3.    Place and Channels to Market
Lecture 1            4.    Pricing
Objectives
                     5.    Promotion and Marketing Communications (1)
What is Marketing?
                     6.    Promotion and Marketing Communications (2)
The Marketing Mix    7.    Extending the Marketing Mix: Service Marketing
(the 4 P’s)
                     8.    Buyers Behaviour
Summary
                     9.    Branding
                     10.   Market Research and Module Review
Lecture 1 Objectives

Brief Introduction
of Myself
                     •   To define marketing
                     •   To understand the role of marketing
Module Outlooks
                     •   To understand the marketing process
Lecture 1
Objectives           •   To introduce the Marketing Mix and its role in the
                         marketing process
What is Marketing?

The Marketing Mix
(the 4 P’s)

Summary
What is Marketing?

Brief Introduction
of Myself
                     • A philosophy of business
                       –Customer-centric
Module Outlooks
                       –External focus
Lecture 1
Objectives             –Focus on customer value & satisfaction
What is Marketing?   • An organizational function
The Marketing Mix
                     • A management process
(the 4 P’s)          • A set of techniques
Summary
                      “The management process responsible for
                      identifying, anticipating and satisfying customer
                      requirements profitably.”
                                            Chartered Institute of Marketing (1989)
Marketing Process is:

Brief Introduction
of Myself
                     • Defining markets;
                     • Quantifying the needs of customer groups
Module Outlooks
                       (segments) within these markets;
Lecture 1
Objectives
                     • Determining the value proposition to meet those
                       needs;
What is Marketing?
                     • Communicating the value proposition, both
The Marketing Mix      internally and externally;
(the 4 P’s)
                     • Monitoring the value actually delivered.
Summary

                            (McDonald,M.2003)
The Selling & Marketing Concept Contrast

Brief Introduction
of Myself

Module Outlooks

Lecture 1
Objectives

What is Marketing?

The Marketing Mix
(the 4 P’s)

Summary



                     Marketing is a matching process between a company’s
                     capabilities and the wants of its customers.
The Marketing Process:
                     Making and Delivering Value
Brief Introduction
of Myself

Module Outlooks

Lecture 1
Objectives

What is Marketing?

The Marketing Mix
(the 4 P’s)

Summary
Key Characteristics of
                                 An Effective Marketing Mix
Brief Introduction   •The elements are not
of Myself            independent of each other.
Module Outlooks
                     •The mix elements should be
Lecture 1            well blended to form a consistent
Objectives           theme
What is Marketing?
                     •The marketing mix matches
The Marketing Mix    customer needs
(the 4 P’s)
                     •The marketing mix matches
Summary
                     corporate resources                 The marketing mix paradigm
                                                         ( Borden, 1964, McCarthy,
                     •The marketing mix creates a        1978)
                     competitive advantage
Criticism of The Marketing Mix

Brief Introduction   •   Represents the sellers view of
of Myself                marketing (Kotler, 2003)
                     •   Simplification of reality
Module Outlooks      •   The broadening of marketing
                         to include services, not-for-
                         profits and even politics (7Ps,
Lecture 1                add People, Processes and
Objectives               Physical Evidence)
                     •   Introduction of Total Quality
What is Marketing?       Management with its emphasis
                         on “customer satisfaction”
The Marketing Mix    •   B2B-Industrial marketing
(the 4 P’s)              contexts
                     •   A focus on the customer,
Summary                  extending from the
                         transactional to relational
                         marketing
                     •   Identification of the firm as a
                         member of a complete value
                         chain
Summary

Brief Introduction
of Myself
                     • Marketing is an organizational function and set of
                       processes for creating, communicating and
Module Outlooks        delivering value to customers
Lecture 1            • Marketing strategies are implemented through
Objectives
                       management of the marketing mix, which can be
What is Marketing?     summarised as the 4P’s.
The Marketing Mix    • Effective strategies harmonise the elements of the
(the 4 P’s)
                       marketing mix into a consistent approach to target
Summary                markets
                     • But-action programme based on the 4Ps should
                       account for 21stCentury challenges

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Lecture 1 Mmm 2010

  • 1. Managing The Marketing Mix Lecture 1: Introduction to Marketing and the Marketing Mix Dr. Martin J. Liu Lecturer in Marketing Nottingham Business School China
  • 2. Module Objectives Brief Introduction • The concept of marketing and marketing’s role in the of Myself firm. Module Outlooks • Understand marketing mix decisions Lecture 1 • Understand the role of product, price, promotion, Objectives • and place (the 4 P’s) and extra 3Ps for services. What is Marketing? • Be able to critique the marketing mix and investigate The Marketing Mix the key marketing challenges (the 4 P’s) Summary
  • 3. Module Design Brief Introduction Module Delivery of Myself • 10 one-hour lectures + 1 two-hour compulsory seminars. • Main text book: Jobber (2010) Principles and Practice of Marketing, Module Outlooks 4thedition, McGraw-Hill, Maidenhead • Key Readings: academic journals are essential and are detailed in the module outline. Lecture 1 Objectives Seminar Presentation • You are asked to form a group of 4 -5 people in your allocated seminar. What is Marketing? • Each presentation should last in between 25 – 30 minutes. • Attendance of seminar presentations are compulsory. No other excuses The Marketing Mix will be accepted except sickness. Failing to attend seminar will result in (the 4 P’s) failing of this module. • Detailed Presentation guideline will be posted next week by David Todd. Summary Assessment • Examination (100 %) Lecture materials and module outline can be found at: U:3rd Year ShareBusiness SchoolSemester 2 0910Managing the Marketing Mix
  • 4. Contact Information of the Lecturers Brief Introduction of Myself Module Convenor: Email: Module Outlooks Martin.Liu@Nottingham.edu.cn Lecture 1 Objectives Office Hours: Every Wednesday, 12:30 - 2:30 PM at AB480 What is Marketing? The Marketing Mix (the 4 P’s) Please make an appointment outside regular office hours if you wish to come and talk to me. Summary Seminar Tutor: Email: David.Todd@Nottingham.edu.cn
  • 5. Module Structure Brief Introduction 1. Introduction to Marketing and the Marketing Mix of Myself 2. Product and New product Development Module Outlooks 3. Place and Channels to Market Lecture 1 4. Pricing Objectives 5. Promotion and Marketing Communications (1) What is Marketing? 6. Promotion and Marketing Communications (2) The Marketing Mix 7. Extending the Marketing Mix: Service Marketing (the 4 P’s) 8. Buyers Behaviour Summary 9. Branding 10. Market Research and Module Review
  • 6. Lecture 1 Objectives Brief Introduction of Myself • To define marketing • To understand the role of marketing Module Outlooks • To understand the marketing process Lecture 1 Objectives • To introduce the Marketing Mix and its role in the marketing process What is Marketing? The Marketing Mix (the 4 P’s) Summary
  • 7. What is Marketing? Brief Introduction of Myself • A philosophy of business –Customer-centric Module Outlooks –External focus Lecture 1 Objectives –Focus on customer value & satisfaction What is Marketing? • An organizational function The Marketing Mix • A management process (the 4 P’s) • A set of techniques Summary “The management process responsible for identifying, anticipating and satisfying customer requirements profitably.” Chartered Institute of Marketing (1989)
  • 8. Marketing Process is: Brief Introduction of Myself • Defining markets; • Quantifying the needs of customer groups Module Outlooks (segments) within these markets; Lecture 1 Objectives • Determining the value proposition to meet those needs; What is Marketing? • Communicating the value proposition, both The Marketing Mix internally and externally; (the 4 P’s) • Monitoring the value actually delivered. Summary (McDonald,M.2003)
  • 9. The Selling & Marketing Concept Contrast Brief Introduction of Myself Module Outlooks Lecture 1 Objectives What is Marketing? The Marketing Mix (the 4 P’s) Summary Marketing is a matching process between a company’s capabilities and the wants of its customers.
  • 10. The Marketing Process: Making and Delivering Value Brief Introduction of Myself Module Outlooks Lecture 1 Objectives What is Marketing? The Marketing Mix (the 4 P’s) Summary
  • 11. Key Characteristics of An Effective Marketing Mix Brief Introduction •The elements are not of Myself independent of each other. Module Outlooks •The mix elements should be Lecture 1 well blended to form a consistent Objectives theme What is Marketing? •The marketing mix matches The Marketing Mix customer needs (the 4 P’s) •The marketing mix matches Summary corporate resources The marketing mix paradigm ( Borden, 1964, McCarthy, •The marketing mix creates a 1978) competitive advantage
  • 12. Criticism of The Marketing Mix Brief Introduction • Represents the sellers view of of Myself marketing (Kotler, 2003) • Simplification of reality Module Outlooks • The broadening of marketing to include services, not-for- profits and even politics (7Ps, Lecture 1 add People, Processes and Objectives Physical Evidence) • Introduction of Total Quality What is Marketing? Management with its emphasis on “customer satisfaction” The Marketing Mix • B2B-Industrial marketing (the 4 P’s) contexts • A focus on the customer, Summary extending from the transactional to relational marketing • Identification of the firm as a member of a complete value chain
  • 13. Summary Brief Introduction of Myself • Marketing is an organizational function and set of processes for creating, communicating and Module Outlooks delivering value to customers Lecture 1 • Marketing strategies are implemented through Objectives management of the marketing mix, which can be What is Marketing? summarised as the 4P’s. The Marketing Mix • Effective strategies harmonise the elements of the (the 4 P’s) marketing mix into a consistent approach to target Summary markets • But-action programme based on the 4Ps should account for 21stCentury challenges