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2.- Week 1 Overview

Course video 3 of 57

Welcome! Before you start today's videos, please have a look at the syllabus. In this first session, I'll give you an overview of what marketing is all about and why it's key to communicating a company’s value proposition. You’ll also get a grasp of marketing essentials, particularly how to frame challenges and what to think about when making decisions. Objectives: To gain insight into the basic pillars of marketing.

Marketing: Customer Needs and Wants

IESE Business School IESE Business School - Instituto de Estudos Superiores da Empresa

Curso 3 de 5 no Foundations of Management Programa de cursos integrados

Understanding who your customers are and what they need and want is at the heart of successful marketing strategies. In this course you will explore how to identify and classify customers and the different methods that marketing professionals use to shed light on how they make purchase decisions. The course will cover the following: 1. Marketing Fundamentals 2. Product, Pricing and Channel Decisions 3. Building Strong Brands 4. Communication Strategy

Visualizar o programa do curso

Ministrado por

Mario Capizzani
Lecturer

Transcrição

[MUSIC]

To introduce Week 1, let me first describe what is the agenda for this course.

First, we want to provide you with a very

simple couple of frameworks to tackle most marketing challenges.

Next, we're going to describe the marketing process and

how it goes about creating delivery and communicating value.

In part three, we're going to review the fundamentals and the basis for

segmentation and how to target and position products.

Next, we're going to review a couple of elements and useful tools for

how to go about conducting research design in order to fulfill

that segmentation that we described in part three.

We're going to talk also a little bit about how to design proper experiments.

And finally, we're going to wrap up with how to target and position the products.

That is the content for this first week of the course.

Any company's main purpose is to identify and satisfy customer

needs better than anybody else and to be able to do so in a profitable way.

Think of companies like ebay that have detected that people were not

able to find some of the items they love or were willing to purchase.

And they created an auction clearing house precisely to fulfill those needs.

Or Inditex, a company from the northern part of Spain in Galicia,

that identified what people truly wanted were

fashionable clothing items at substantially lower prices.

And they created Zara, the largest fashion retailer in the world that is

one of the fastest companies at bringing products to market from its design stage.

Both of these companies have demonstrated, clearly, marketing savvy.

The modern marketing concept emerged roughly around halfway through

the 20th century, whereas companies shifted a philosophy from make and

sell to one of understanding customer needs and serve, where fundamentally,

they said, transformation will shift from finding customers for

your products to designing products for customer needs.

Today, we can think of marketing fundamentally around the concept of value.

Marketing is essentially about creating, communicating,

delivering, capturing, and sustaining value for customers.

One of the remarkable aspects about the marketing profession is the vastness and

the complexity of the tasks that it has to encompass.

Marketeers have to segment customers, design products,

select packaging, choose channels, media,

design communication strategies, maintain loyalty programs, etc, etc.

As you can see, marketing is very complex, but that's what makes the profession,

at the same time, exciting and exhilarating.

In order to cope with such complexity, let me give you a very simple framework for

how to tackle marketing challenges.

Throughout this first week, we'll be using a case that I have provided for you,

the case of Santander Serfin in Mexico, which we will use as the basis for

illustrating some of the points that we will be making throughout this first week.

[MUSIC]

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