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Marketing in today’s world 8part2
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Marketing in today’s world 8part2

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  • Effective marketing puts the product in the hands of its target customers
  • Read the development piece in the book pages 202-203
  • Transcript

    • 1. Marketing in Today’s World Chapter 13 Brown & Crow
    • 2. Objectives
      • SWBAT
        • List the functions of marketing
        • Identify the importance of market research
        • Explain how channels of distribution work.
    • 3. Basics of Marketing
      • Market
        • A group of customers who share common wants and needs
      • Marketing
        • The process of creating, promoting, and presenting a product to meet the wants and needs of customers
      • Marketing concept
        • Knowing customer’s needs and wants in order to make a profit
      • Target marketing
        • Find and analyze potential customers in the market
    • 4. Functions of Marketing
      • Distribution
        • Moving goods services from one place to the end user
      • Financing
        • Businesses decide if customers can pay with credit or other payment options
      • Marketing Information Management
        • Making informed decisions through market research and development
    • 5. Functions (cont.)
      • Pricing
        • What price to charge for a product so a company can make a profit
      • Product/Service Management
        • Obtaining information, developing and maintaining products
      • Promotion
        • Media communication to get a business’s product out into the hands of the public
      • Selling
        • Provides customers with goods and services
    • 6. Marketing Mix
      • Also known as the 4 p’s
        • Product
          • Is there a demand for the product
        • Place
          • Where to sell the product to the right customer
        • Price
          • What price to charge
            • Customer willing to pay
            • Competitive
            • Can company make a profit
        • Promotion
          • Making the customer aware of the product
    • 7. Market Research Gather and study information to determine what kind of goods and services to produce.
    • 8. Demographics Facts about the population in terms of age, gender, location, income and education.
    • 9. Product Development
      • Generating ideas
      • Screening ideas
      • Developing a Business Proposal
      • Developing the product
    • 10. Product Development (cont)
      • Test marketing the Product
      • Introducing the Product
      • Evaluating customer acceptance
    • 11. Channels of Distribution
      • Channel of distribution
        • A particular way to direct products to consumers
      • Direct distribution
        • Occurs when the goods or services are sold directly to the customer
      • Indirect distribution
        • Involves one or more intermediaries
    • 12. Channel Members
      • Distributors
        • This intermediary represents a single manufacturer in a geographic area.
          • Cosmetics, cars, furniture and shoes
      • Wholesalers
        • Receives large shipments of products from many producers, break them into smaller batches for resale.
      • Retailers
        • Sells goods directly to the customer. This is the final step the channel of distribution