What Is Marketing
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Marketing involves all activities related to getting goods and services to consumers, including planning, pricing, promotion, distribution, and sales. The basic purpose is to satisfy consumer needs and wants by connecting suppliers to end users. Goods can be industrial, involving raw materials, processed, or finished products destined for other businesses or consumers directly. Services are activities performed for others and can target both industrial customers and individual consumers. A target market refers to a specific group of consumers a company focuses its marketing efforts on.
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MBM6109+INDUSTRIAL+MARKETING.pdf Industrial Marketing notes
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[To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
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What Is Marketing
- 1. What Is Marketing ?
- 2. Marketing ● The sum of activities involved in getting the good/service to the consumer, including planning, pricing, promoting, distributing and selling.● The basic purpose of marketing is to satisfy the wants and needs of the consumer.● Marketing connects the supplier to the end user (consumers).
- 3. Goods and Services Goods are divided into 2 categories Industrial Goods raw materials (minerals, wood, food), processed goods (steel, pulp, tomato paste to make ketchup), finished goods (car parts, news quality paper, ketchup Raw material Processed Good Finished GoodMinerals ⇒ steel ⇒ car parts for GMWood ⇒ pulp ⇒ paper for The Ottawa CitizenTomatoes ⇒ tomato pulp ⇒ ketchup for McDonalds
- 4. The industry and Consumers The industry has to have a good relationship with their consumers in order to keep having business. For example: Oil companies have to keep supplying Gas stations to keep the customers coming back.
- 5. Consumer Goods non-industrial products bound directly to the general public such as those sold in stores, catalogues, online. But sometimes consumer goods are also marketed to industry. An example is hockey sticks, sold to teams as well as consumers.
- 6. Industrial and Consumer Services Services are activities performed for others, i.e. hairdressing, real estate, education, legal work.A plumber can work in industry, such as for a builder like Minto or for consumers when they are called to a private home. However, many businesses will focus their marketing efforts on a specific group - a target market.
- 7. Target Market A target market is a specific group of consumers at which a company aims its products and services