Marketing paradigms class lectures_122990867-Marketing-Lectures

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15.810 Course Introduction Marketing Management Prof. Natalie Mizik What is Marketing? Marketing is the activity, setof institutions, and processesfor creating, communicating,delivering, and exchangingofferings that have value forcustomers, clients, partners,and society at large (AMA2007)Marketing is an organizationalfunction and a set of processesfor creating, communicating, anddelivering value to customersand for managing customerrelationships in ways that benefitthe organization and itsstakeholders (AMA 2004)Everything starts with the customerCreating shareholder wealth is not thepurpose of the business. It is the rewardfor creating customer valueTracy and Wiersema in CFO magazineMy own biggest mistake in the last 20years was that sometimes I designedsolutions for problems that people didn'tyet know they had. That's why some ofthe things that could've made adifference couldn't find a marketLou Gerstner, CEO of IBM 1993-2002Bill Joy the Edison of the InternetTo achieve organizational goals bydetermining the needs and wants ofcustomers and delivering the desiredbenefits more effectively and efficientlythan competitors2Prof. Natalie Mizik 2010 MIT 15.810Importance of Marketing Market ValueCash FlowsCustomersCompanyCompetitors3Prof. Natalie Mizik 2010 MIT 15.810Course Objectives and StructureI. SituationAnalysis:COLLAB

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