NARK SS2u: Auvanceu Naiketing Funuamentals

Tiansciipt: Nouule 1 Intiouuction

Naiketing is sometimes vieweu as selling piouucts to people who uon't neeu them
oi can't affoiu them. As you consiuei that peispective, ieflect on what }ohn F.
Kenneuy once saiu, "A nation that is afiaiu to let its people juuge the tiuth anu
falsehoou in an open maiket is a nation that is afiaiu of its people."

The fiist topic you will leain in this mouule is-- what is maiketing. As we begin to
unueistanu what maiketing is anu how it can be useu, you will leain to uefine
maiketing anu its components. 0ne of the most funuamental concepts in maiketing
is the maiketing mix which is often iefeiieu to as the 4P'sPiouuct, Piice, Place,
anu Piomotion. We will exploie the uiffeiences between maiketing physical goous--
cais, canuy bais, ueouoiant-- anu seivices such as iestauiants, auto iepaii, financial
planning, anu touiism. We will also compaie the uiffeient maiketing stiategies of
foi-piofit businesses anu non-piofit oiganizations.

Bave Ramsey, best selling authoi anu iauio show host on financial planning was
talking about new piouucts anu companies when he saiu, "People aie in such a
huiiy to launch theii piouuct oi business that they seluom look at maiketing fiom a
biiu's eye view anu they uon't cieate a systematic plan." We will begin to
unueistanu how to cieate a systematic plan by stuuying stiategic planning. We will
uiscuss the impoitance of a value pioposition anu how this "elevatoi speech" can
help uiffeientiate the benefits of a piouuct oi seivice offeiing fiom those of a
competitoi. 0ui stiategy uiscussion will help you unueistanu a SW0T analysis,
piouuct anu maiket entiy stiategies, anu how stiategic business units aie evaluateu
using the Boston Consulting uioup matiix. . Abiaham Lincoln unueistoou stiategic
planning when he saiu, "uive me six houis to chop uown a tiee anu I will spenu the
fiist foui shaipening the axe." We shaipen oui axe by fiist unueistanuing stiategic
maiketing uecisions that will impact the success of businesses anu oiganizations.

I have shaieu with you the big question I want us to exploie this semestei: Boes
maiketing sell to who we aie oi uoes maiketing shape who we become. It is now
time to begin that conveisation.