What is Marketing?

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  • Doroschuk, I. (1989). Everybody's Selling Something. In YouTube. Retrieved June 16, 2012, from http://www.youtube.com/watch?v=jivSbcj82tA.
  • What is Marketing?

    1. 1. What is Marketing? KENTON LARSEN
    2. 2. Marketing is: Product, place, price, promotion Goods and services Exchanges To satisfy wants and needs In order to…MAKE MONEY
    3. 3. Utility The ability to satisfy consumers’ wants and needs:  Glamour  Sex appeal  Status  Functionality  Form – tangible  Task – service  Possession – “for sale”  Time/place – where and when consumers want it.
    4. 4. Psychology Exchanges:  based on “value” Perception:  based on “equal exchange” Satisfaction:  based on prior experience
    5. 5. Customers Current:  buy the product Prospective:  considering buying the product Opinion leaders:  influence others to buy the product
    6. 6. Markets Consumer:  buy for their own use Government:  buy for civic, provincial, federal use Local/Regional/International: Business:  Resellers – buy to resell  Industrial – buy to build something else
    7. 7. Marketers True or false: Everybody sells. Men Without Hats - Everybodys Selling Something Marketer: Anyone with an idea, product, or service to sell.
    8. 8. Consumer psychology Personal processes:  Perception – learning – motivation Interpersonal influences:  Family – Society – Culture Non-personal influences:  Time – Place – Environment Purchase decisions:  Alternatives Post-purchase feelings:  Positive or negative
    9. 9. Personal processes Perception:  the product exists. Learning:  the product is compelling. Persuasion:  you need to buy the product. Motivation:  you need to buy it now!
    10. 10. Learning and persuasion Learning:  Change in thought or behavior caused by experience. Persuasion:  Change in thought or behavior caused by promotional activities.
    11. 11. Persuasion Central route:  High involvement. Peripheral route:  Low involvement. Most advertising is peripheral:  People don’t pay close attention to ads, unless they deeply desire the product, are considering buying it, or have already bought it.
    12. 12. Interpersonal influences Family:  Early, long-lasting influence Society:  Opinion leaders, reference groups Cultural:  Needs and wants handed down from generation to generation Heroes:  Celebrities, sports figures, etc.
    13. 13. Non-personal influences Time:  When do you need the product? Place:  Where? Financial:  Can you afford it? Social:  Will you be rewarded for buying it? Political:  Will the GST stop you from buying it? Economic:  Good or bad economy?
    14. 14. The purchase decision Evoked set:  The brands you mull over Evaluative criteria:  Your standards Purchase decision:  Buy, don’t buy, think about it
    15. 15. Cognitive dissonanceWhy did I buy this #@$!? Justifying behavior, usually after you make a purchase. The more costly the exchange, the greater the dissonance. The more satisfying, the less the dissonance. Form long-term brand perceptions: positive and negative.
    16. 16. Sources All images: from Microsoft PowerPoint clip art, 2008 Song: Doroschuk, I. (1989). Everybodys Selling Something. In YouTube. Retrieved June 16, 2012, from http://www.youtube.com/watch?v=jivSbcj82tA.

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