2. 1-2
L E A R N I N G O B J E C T I V E S
Define the role of marketing in
organizations.
Describe how marketers create value for
a product or service.
Understand why marketing is important
both within and outside the firm.
Overview of Marketing
LO1
LO2
LO3
3. 1-3
What is Marketing?
Marketing the activity, set of institutions, and
processes for creating, capturing,
communicating, delivering, and exchanging
offerings that have value for customers, clients,
partners, and society at large
7. 1-7
Product: Creating Value
The fundamental
purpose of Marketing
is to create value by
developing a variety
of offerings, including
goods, services, and
ideas, to satisfy
customer needs.
Goods
Services
Ideas
Royalty-Free/Corbis
Roz Wodward/Getty Images
Flying Colours Ltd./Getty Images
9. 1-9
Place: Delivering the Value Proposition
Place, or supply chain
management, describes
all activities necessary to
get the product to the
right customer when the
customer wants it.
Where would you find
this product in the store?
Courtesy Horizon Organic Dairy
10. 1-10
Promotion: Communicating Value
Promotion is
communication by a
marketer that
informs, persuades,
and reminds
potential buyers about
a product or service
to influence their
opinions or elicit a
response. Photo by Paul Hawthorne/Getty Images
11. 1-11
Marketing Can be Performed
by Individuals and Organizations
ETSY Website
C2C
Consumer B
B2C
Consumer A
B2B
Retailer
(Sells PCs &
monitors)
Manufacturer
(Makes monitors)
12. 1-12
Marketing Impacts Various Stakeholders
Society Customers
Employees Supply
Chain
Courtesy National Fluid Milk Processor Promotion Board;
Agency: Lowe Worldwide, Inc.
15. 1-15
CHECK YOURSELF
1. What is the definition of marketing?
2. Marketing is about satisfying ______ and
______.
3. What are the four components of the marketing
mix?
4. Who can perform marketing?
5. What are the various eras of marketing?
16. 1-16
How Do Firms
Become Value Driven?
Sharing Information
Balancing Benefits with Costs
Building Relationships with Customers
Connecting with Customers Using
Social and Mobile Media
17. 1-17
Connecting With Customers
Using Social & Mobile Marketing
93% of marketers use
social media tools for
their businesses.
4.2 billion people link
to some social media
sites through their
mobile devices.
Photo by Spencer Platt/Getty Images.
18. 1-18
CHECK YOURSELF
1. Does providing a good value mean selling at a
low price?
2. How are marketers connecting with customers
using social and mobile media?
20. 1-20
CHECK YOURSELF
1. List five factors that emphasize the importance
of marketing.
2. A firm doing the right thing emphasizes the
importance of marketing to _________.
21. 1-21
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Exchange is the trade of things of value between
the buyer and the seller so that each is better off
as a result.
Glossary
23. 1-23
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Services are intangible customer benefits that
are produced by people or machines and
cannot be separated from the producer.
Glossary
24. 1-24
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Ideas include thoughts, opinions, and
philosophies, and intellectual concepts which
can be marketed.
Glossary
25. 1-25
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A supply chain is the group of firms that make
and deliver a given set of goods and services.
Glossary