Marketing Mix

Topics: Marketing, Marketing management, Customer relationship management Pages: 36 (10959 words) Published: June 20, 2012
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After reading this chapter you should be able to:

Creating Customer Relationships and Value through Marketing
INNOVATION AND MARKETING AT 3M: HOW DISCOVERING STUDENT STUDY HABITS LAUNCHED A NEW PRODUCT David Windorski, a 3M inventor, faced a curious challenge—understanding how college students study! Specifically, how do they read their textbooks, take class notes, and prepare for exams? After finding the answers, he needed to convert this knowledge into a product that actually helps students improve their studying. Finally, Windorski and 3M had to manufacture and market this product using 3M’s world-class adhesive technology. Sound simple? Perhaps. But David Windorski invested several years of his life conducting marketing research on students’ study behavior, developing product ideas, and then creating an actual product students could use.1 This process of discovering and satisfying consumer needs is the essence of how organizations such as 3M create genuine customer value through effective marketing. In designing a product that satisfies consumer needs, David Windorski’s invention got a personal testimonial from host Oprah Winfrey on her 2008 TV show. More on this later.2 Discovering Student Study Needs As an inventor of Post-it® brand products, David Windorski’s main job is to design new products. He gets creative “thinking time” under 3M’s “15% Rule,” in which inventors can use up to 15 percent of their time to do initially unfunded research that might lead to marketable 3M products. Working with a team of four college students, Windorski and the team observed and questioned dozens of students about how they used their textbooks, took notes, wrote term papers, and reviewed for exams. Windorski describes what college students told him: “It’s natural behavior to highlight a passage and then mark the page with a Post-it® Note or Post-it® Flag of some kind. So it’s reasonable to put Post-it® products together with a highlighter to have two functions in one.” Satisfying Student Study Needs Designing a marketable product for students was not done overnight. It took Windorski a few years of creativity, hard work, and attention to countless details. Windorski went back to his drawing board—or more literally to wood blocks and modeling clay—to mock up a number of nonworking models. These nonworking models showed Windorski how the product would feel.

Define marketing and identify the diverse factors influencing marketing activities. Explain how marketing discovers and satisfies consumer needs. Distinguish between marketing mix factors and environmental forces. Explain how organizations build strong customer relationships and customer value through marketing. Describe how today’s customer relationship era differs from prior eras.





What will

3M’s Post-it® Notes or Post-it® Flags For the creative way a student project helped lead to a new product for college students using 3M’s technology, see the text.


Felt Tip Highlighters


the product be 3M product that will combine Post-it® Notes or Post-it® Flags and Highlighters

His search for the 2-in-1 highlighter plus Post-it® Flags produced working models that students could actually use to give him feedback. Windorski had taken some giant steps in trying not only to discover students’ needs for his product but also to satisfy those needs with a practical, useful product. Later in the chapter we’ll see what products resulted from his innovative thinking and 3M’s initial marketing plan that launched his products.

The good news is that you are already a marketing expert! You perform many marketing activities and make marketing-related decisions every day. For example, would you sell more Panasonic Viera 50-inch plasma highdefinition TVs at $2,499 or $999 each? You answered $999, right? So your experience in shopping gives you some expertise in marketing. As a consumer, you’ve...
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