Marketing Management Intro Lecture Recap

Marketing program

Marketing

• What is Marketing?

Marketing

• The management process through which goods and services move from concept to the customer. It includes the coordination of four elements called the 4 P's of marketing:
• Identification, selection and development of a product,
• Determination of its price,
• Selection of a distribution channel to reach the customer's place, and
• Development and implementation of a promotional strategy.

Marketing Evolution

Marketing Evolution: Key dates

• 1450: Gutenberg's metal movable type, leading eventually to mass-production of flyers and brochures
• 1836: first paid advertising in a newspaper (in France)
• 1864: earliest recorded use of the telegraph for mass unsolicited spam
• 1867: earliest recorded billboard rentals
• 1880s: early examples of trademarks as branding
• 1908: Harvard Business School opens
• 1922: radio advertising commences
• 1941: first recorded use of television advertising
• 1950s: systematization of telemarketing
• 1980s: development of database marketing as precursor to CRM[5]
• 1980s: emergence of relationship marketing
• 1980s: emergence of computer-oriented spam
• 1990s CRM and IMC (in various guises and names) gain dominance in promotions and marketing planning,[7][8]
• 1995-2001: the Dot-com bubble temporarily re-defines[citation needed] the future of marketing
• 2000s: Integrated marketing gains acceptance and in 2002 its first dedicated academic research centre[9][10]

Marketing process

Definition

• Process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others is termed as marketing process.
• The marketing process consists of four steps:

1. Analyzing market opportunities;