BE 604 – Marketing Management
BE 604 – Marketing Management
01 02 03
Personal Course The
Agenda Introductions Introduction Marketing
Concept
BE 604 – Marketing Management
BE 604 – Marketing Management
Introduction
Harvir S Bansal
Associate Professor
Conrad School of Business, Entrepreneurship and Technology University of Waterloo
Contact information:
(519) 888 4567 ext. 37168
(647) 391 9330
harvir.bansal
[email protected]
[email protected]
2416 E7
BE 604 – Marketing Management
January 7, 2022
•Associate Professor
•B.Sc. (Math, Physics), MBA
(Marketing/Operations Research), PhD
(Marketing & Operations Research, Queen’s
University)
Academic •Research interests: Customer Switching
Behavior in Services, Service
Quality/Satisfaction/Delight, Word of Mouth
Effects in Services , Relationship Marketing,
Advertising Effectiveness
•SVP, Research & Methods, comScore
•Advertising Effectiveness, Advanced Analytics
and Modeling
“Real World” •Sole Inventor/Co-Inventor on 3 Patent Pending
Background Technologies related to Evaluation of Online
Advertising Effectiveness
• Principal, Friya Consulting
• Co-founder, b3Intelligence – data
analytics firm
Entrepreneur • Shareablee - Social Media Metrics
• Co-founder, Influnetics - currency of
influence
BE 604 – Marketing Management
What I bring to the table . . .
Academic Real World
Rigor Experience
GROUNDED
RELAVANCE
Satisfaction/Loyalty Studies
AIU Studies
Advertising Effectiveness
Pricing Research
Competitive Positioning
Social Media
BE 604 – Marketing Management
The course will
explore…
• market-based management practices
• the key relationships that enable
businesses to attract, satisfy and retain
customers, and grow their profits
• the contribution of customer centric
strategy to the creation of value for
both customers and shareholders
• the unique contexts of:
• New ventures
• knowledge-intensive products and
services
• new and rapidly growing markets
BE 604 – Marketing Management
Course Outline
Contact
Dates Course/Topic
Hours
January 06 <3 Introductions / Marketing and Markets
January 13 3 Understanding Customer Behavior
January 20 Building and Maintaining Customer
3
Relationships
January 27 3 Segmentation, Targeting, Positioning
February 03 3 Segmentation, Targeting, Positioning
February 10 3+ In-Class Exercise #1
Managing Product Strategy
February 17 3
BE 604 – Marketing Management 8
Course Outline
Contact
Dates Course/Topic
Hours
March 03 3 In-Class Test #1
March 10 3 Pricing the Product/Service
March 17 3 Marketing Communications
March 24 3+ In-Class Exercise #2
March 31 3 In-Class Test #2
BE 604 – Marketing Management 9
Assessment
Item Weight Due
1. Class Participation (Individual) 10% Through Course
2. In-Class Exercise (Team) #1 20% February 10, 2022
3. In-Class Exercise (Team) #2 20% March 24, 2022
4. In-Class Test #1 (Individual) 20% March 03, 2022
5. In-Class Test #2 (Individual) 30% March 31, 2022
BE 604 – Marketing Management 10
BE 604 – Marketing Management
BE 604 – Marketing Management
January 7, 2022 BE 604 – Marketing Management
Key Words from the last slide – a better look ☺
BE 604 – Marketing Management
Marketing Philosophies
• The Production Concept
The philosophy that consumers will favor products that are available
and highly affordable, and that management should therefore focus
on improving production and distribution efficiency.
– What about luxury items from the brands such as Prada, Gucci etc.
• The Product Concept
The philosophy that consumers will favor products that offer the most
quality, performance and innovative features and that management
should therefore devote energy to making continuous product
improvements.
– “Marketing Myopia” – building a “better mousetrap” rather than a “better solution” to the mouse
problem.
• The Selling Concept
The philosophy that consumers will not buy enough of organization’s
products unless the organization undertakes a large-scale selling and
promotional effort
– Focus on creating sales transactions. Assumes if people are coaxed enough, they’ll buy it, a fairly poor
assumption of consumer behavior. What about repeat purchases? Unsatisfied people tell 10 others
compared to 3 for satisfied.
BE 604 – Marketing Management
Marketing
Philosophies
The Marketing Concept
Peter F. Drucker
“The aim of marketing is to make selling superfluous. The aim is
to know and understand the customer so well that the
product or service fits
. . . and sells itself”
The philosophy that holds that achieving organizational
goals depends on determining the needs and wants of
target markets and delivering the desired satisfactions
more effectively and efficiently than competitors do.
BE 604 – Marketing Management
Marketing
Philosophies
The Marketing Concept
Peter F. Drucker
“The aim of marketing is to make selling superfluous.
The aim is to know and understand the customer
so well that the product or service fits
. . . and sells itself”
The philosophy that holds that achieving
organizational goals depends on determining the
needs and wants of target markets and
delivering the desired satisfactions more
effectively and efficiently than competitors do.
BE 604 – Marketing Management
From that comes our definition …
• Marketing
Planning and executing the conception, pricing,
communication, and distribution of products (services)
to create exchanges that satisfy individual and
organizational objectives
• Hence, the 4 Ps (Right Product, Right Price, Right Place,
Right form of Communication/Promotion)
• Companies who follow this concept are Market-
Oriented
RESEARCH MARKET ORIENTATION
BE 604 – Marketing Management
