Marketing in the Digital

Age

UCD Michael Smurfit Scoil Ghnó

School of Business Michael Smurfit UCD
 Agenda

• Course Overview

• Assignments

• Introduction to Marketing
 Introduction

Objectives

• Understand and critically evaluate the role of marketing

management

• Develop an advanced level of knowledge about key marketing

concepts and techniques

• Learn about the importance of the marketing mix and how the
“tools” can be integrated to achieve strategic objectives

• Be able to produce a strategic marketing plan

 Introduction

Classroom philosophy

• Lectures will be a mix of theory/concepts and “real-life” examples

• Use of examples and cases

• Participation in class discussion

• Readings (please read the material in advance!)

 Assessment

• Exam (60%)
• 3 hours
• 3 questions from 6
• Group Project (40%)
• In this exercise we ask you to come up with
an idea for a new wearable device (i.e. smart
watch) and to develop a strategic marketing
plan to launch this product.
 Group Assignment: Content and
Structure
•Introduction (1/2 page to 1 page) - Briefly introduce
the project and how you have chosen to structure the
paper.
•New Product Concept (1-2 pages) - Introduce your
new product concept. Give it a name. What are its
features? What consumer needs/wants does it address?
What benefits does your wearable device offer
consumers? Why do you believe this product will
succeed in the marketplace?
•Marketing Analysis. (2-3 pages) What is the market
context? What are the key trends shaping consumer
attitudes and behaviours towards wearables in general,
your device in particular? Who are your competitors?
Who are your potential collaborators?
 Group Assignment: Content and
Structure
•Creating Value (2 pages). Discuss your recommendations
for the segmentation, targeting and brand positioning of your
new wearable device. Develop a brief outline of your core
target consumer.
•Capturing Value (5 pages) Your launch strategy will involve
making decisions about the 4P’s:
–Product - What is the full value proposition for your device?
–Price - What is your pricing strategy? How does this compare
with any similar offers from competitors?
–Place - What distribution strategy will best support the
launch of your device?
–Promotion - What are your recommendations regarding
communications with your target market? How will you
generate awareness, stimulate product trial and sales?
Group Assignment: Content and
Structure
•Sustaining Value (1&1/2 pages). Once your device has been
successfully launched, how do you plan to engage with existing
consumers on an ongoing basis, and how might you reach new
consumers?
•Conclusions (1/2 page). Summarise your key points.
•Appendices
•References
Group Assignment: Submission
Guidelines
• Assignments are to be no longer than 15 typed A4
pages in length, excluding the cover page, appendices
and reference list.
• Use Times New Roman size 12 font with one inch
margins all around and 1.5 spacing.
• Cover page should clearly state the full names &
student numbers of all members of the group.
• Submissions in PDF format please.
• Teams of 4 or 5 people.
• DEADLINE: Due on Saturday 1st April 2023
Introduction to Marketing

10
 What is Marketing?

“… the activity, set of institutions, and

processes for creating, communicating,
delivering and exchanging offerings that
have value for customers, clients, partners
and society at large.”

(American Marketing Association)

 Marketing Strategy & Value Creation

Marketers generate value by creating, communicating,

delivering and exchanging products and services that provide:

1. Relative, relevant and resonant value to customers

2. Sufficient differentiation from those offered by the
competition
3. Real value (i.e. margin) to the company
Marketing is Digital. So are our
Lives
Mobile is driving this change
First Principles of Marketing

Palmatier et al. 2021

Overview of Marketing Management
Process
The Marketing Concept

The marketing concept

suggests that the key to
achieving organizational
goals consists of the
company being more
effective than competitors in
creating, delivering, and
communicating superior
customer value to your
chosen target markets.
The Marketing Concept

Marketing concept
….creating, communicating,
delivering and exchanging offerings
that have value for customers…

Customer Integrated Goal

orientation effort achievement
Corporate activities are All staff accept the The belief that
focused upon providing responsibility for corporate goals can be
customer value creating customer achieved through
value customer value
Alternative
Concepts/Orientations

Payne (1998)
 The Marketing Concept

Market Driven Business Internally orientated business

Customer concern throughout business Convenience comes first

Know customer choice criteria and match with Assume price and product performance key to
marketing mix most sales
Segment by customer differences Segment by product

Invest in market research and track market Rely on anecdotal evidence and received
changes wisdom
Welcome change Cherish status quo

Try to understand competition Ignore competition

Marketing spend regarded as investment Marketing spend regarded as luxury

Innovation rewarded Innovation punished

Search for latent markets Stick with the same

Being fast Why rush?

Strive for competitive advantage Happy to be me-too

Efficient and effective Efficient

The Marketing Concept
Anything Can be (and has
been) Marketed!
• Goods
• Services
• Events
• Experiences
• People
• Places
• Properties
• Firms
• Information
• Ideas
Organizations Operate in
Different Markets

Consumer Markets
Consumer goods and services such
as soft drinks and cosmetics, spend
a great deal of time trying to
establish a superior brand image.

Business Markets
Companies selling business goods
and services often face well-trained
and well-informed professional
buyers who are skilled in evaluating
competitive offerings.
Organizations Operate in
Different Markets
Global vs. Local Markets
Companies face challenges and decisions
regarding which countries to enter, how
to enter the country, how to adapt their
products/services to the country, and
how to price their products.

Nonprofit and Governmental Markets

Companies selling to these markets have
to price carefully because these
organizations have limited purchasing
power
 Marketing Strategy & Value Creation

Marketers generate value by creating, communicating, delivering and

exchanging products and services that provide:

1. Relative, relevant and resonant value to customers

2. Sufficient differentiation from those offered by the competition
3. Real value (i.e. margin) to the company
What is Value?

A customer’s overall assessment of the value of an offering

based on perceptions of what is received and what is given.

Positive Negative
Customer value

Perceived Perceived
• Product benefits benefits sacrifice • Monetary costs
• Service benefits • Time costs
• Relational benefits • Energy costs
• Psychological
• Image benefits costs
 Value for Who?

Remember Principle 1: All Customers Differ!

Customers have heterogeneous (different) needs and wants:

• Geographic markets (customers in Singapore vs. Ireland)

• Product markets (luxury vs. low cost)

• Demographic markets (millennials vs. Gen-z)

Segmenting the market and identifying target market means

to find a group of customers with similar needs and wants.
And What Do We Offer?
 And how do we differentiate it?

What proposition do we make to

customers? Is it sufficiently differentiated
from the competition (i.e. provide greater
value to our target market?)
How do Marketers Create Value for
their Customers?
Overview of Marketing Management
Process
Identifying Opportunities for Growth:
Market Planning
Situational analysis
• Identifying the key factors that will be used as a
basis for the development of marketing strategy.

Marketing planning
• An ongoing process that combines organizational
objectives and situational analyses to formulate
and maintain a marketing plan that moves the
organization from where it currently is to where it
wants to be.
Identifying Opportunities for Growth:
Market Planning

Key Questions Stages in marketing

planning
Where are we now? Marketing Audit (i.e.
situational analysis),
SWOT Analysis
Where would we like to Marketing Objectives
be?

How do we get there? Core Strategy,

marketing mix
decisions, organization,
implementation
Are we on course? Control
Chapter 7 - Creating Advantage, Synergy and Strategic Philosophies PPT 7-34
Identifying Opportunities for Growth:
Situational Analysis

Chapter 7 - Creating Advantage, Synergy and Strategic Philosophies PPT 7-35

Situational Analysis: Climate/Context

Chapter 7 - Creating Advantage, Synergy and Strategic Philosophies PPT 7-36

Situational Analysis: Competitive
Environment
Aims to assess the competitive
attractiveness of an industry

Applied to one or more highly related

products that service a particular
customer transaction or business
need

Requires company to define its

‘market’ properly

Too narrow definition can lead to

marketing myopia

Chapter 7 - Creating Advantage, Synergy and Strategic Philosophies PPT 7-37

Situational Analysis: Customers
Environment • Who are our current/future customers?

• What problems do they have that we can

solve?

• What is the depth of their frustrations?

• How are these people currently solving

their problems?

• What (additional) value could we offer

these customers?

• How easily can we reach these

customers?

• What does their ‘customer journey’ look

like?

• How should we market to these

PPT 7-38
Chapter 7 - Creating Advantage, Synergy and Strategic Philosophies
customers?

• How can we encourage repeat purchase

and advocacy?
Conclusion

• Marketing planning starts with a

situational analysis.

• The 5 Cs provide a good template to

analyse the marketing environment

• Several frameworks can aid as useful

tools to help marketing managers
analyse both macro (e.g. PESTEL) and
micro environments (Porters 5 Forces)

.
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