Wayne State University BA 6015 Week 1 Slides

Wayne State University Course Overview

  • Institution: Wayne State University

  • Program: Mike Ilitch School of Business

  • Course: BA 6015 - Marketing Foundations

  • Semester: Winter 2025

  • Week: Week 1

IMC Campaign and Presentation Groups

  • Group 1: Jack Bishop*, Mohamad Makki, Alyssa McCloud, Sam Pfeiffer

  • Group 2: John Brewer, Katie Matthews*, Ashley Primas, Summar Smidi

  • Group 3: Younes Badran, Hassan Fawaz, Sarah Sabi, Brenet White*

  • Group 4: AngaLic Johnson, Taylor Moore, Varun Vohra, Alex White*

  • Group 5: Jamie Freeman, Diana Ljucovic, Lakiah Wilson, Natalie Woods*

  • Group 6: Diajanay Brown*, Aini-Alem Robertson, Tabinda Sial, Mycah Slade

  • Group 7: Rebecca Ableson*, Barbara Osei, Tazim Sikder, Jessica Taylor

  • Group 8: Hillary Bruce, Rashad Dudley, Lucas Hotchkiss*, Heather Marks

  • Group 9: John Brantley*, Lauren Cotton, Brandon Graves, Andrew Zotter

  • Group 10: Kowshik Balaraman, Adrian Gligor*, Destiny Hill, Whitney Kutcher

  • Group 11: Aaron Escobedo, Robert Jeannotte*, Noah Murciano

Topics for Week 1

  • Marketing and Customer Value

  • Integrated Marketing Communications (IMC)

  • What is Marketing?

  • Marketing Process

  • Buyer Personas

  • Quantitative and Qualitative Research

  • Logo Identification Activity

  • The Marketing Mix (4Ps)

  • Factors Affecting the Marketing Environment

  • Determining Consumers' Needs and Wants

  • Customer Relationship Management (CRM)

  • Ethical Marketing

  • The Promotion Mix

  • Communication Process

  • Steps in the IMC Planning Process

Definition of Marketing

  • American Marketing Association (AMA): Marketing is defined as 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.

Breakdown of Marketing

  • Processes Involved in Marketing:

    • Discerning customer needs

    • Developing products or services to meet those needs

    • Identifying potential buyers

    • Promoting products or services

    • Selecting appropriate marketing channels

  • Goal of Marketing: Understand consumer wants to drive business.

Utility in Marketing

  • Definition: Utility refers to a product's usefulness to customers.

  • Types of Utility:

    • Form Utility: Value added by changing physical characteristics of a product.

    • Time Utility: Availability of products at a convenient time for consumers.

    • Place Utility: Accessibility of goods and services when and where needed.

    • Possession Utility: Ease with which a product can be acquired or owned.

Marketing Process

  • Definition: A systematic framework for planning and executing marketing campaigns effectively.

  • Objective: To ensure successful targeting of audiences and implementation of marketing strategies.

  • Importance: Engages in structured analysis of market research, customer needs, and promotional strategies to track and evaluate success.

Buyer Personas

  • Definition: Fictional profiles representing ideal customers developed through audience research.

  • Usage: Inform product development, content generation, and strategy for customer acquisition and retention.

The IMC Planning Process

  • Basics: Ensures that marketing efforts convey a consistent message across all marketing channels.

  • Steps: Include defining clear objectives, designing messages, and determining budgets and promotional schedules.

Key Performance Indicators (KPIs)

  • Common KPIs:

    • Return on Investment (ROI)

    • Cost per Lead

    • Conversion Rates

    • Engagement Metrics

Ethical Marketing

  • Principles Include:

    • Truthfulness in advertising

    • User privacy protection

    • Adherence to laws and regulations

    • Transparency in communication

Elements of the Promotion Mix

  • Definition: Collection of methods used to promote a product or service, typically categorized into advertising, sales promotion, public relations, direct marketing, and personal selling.