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

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

  • Marketing in Today’s World Chapter 13 Brown & Crow
  • Objectives
    • SWBAT
      • List the functions of marketing
      • Identify the importance of market research
      • Explain how channels of distribution work.
  • 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
  • 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
  • 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
  • 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
  • Market Research Gather and study information to determine what kind of goods and services to produce.
  • Demographics Facts about the population in terms of age, gender, location, income and education.
  • Product Development
    • Generating ideas
    • Screening ideas
    • Developing a Business Proposal
    • Developing the product
  • Product Development (cont)
    • Test marketing the Product
    • Introducing the Product
    • Evaluating customer acceptance
  • 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
  • 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