Chapter 1 ppt

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Chapter 1 ppt

  1. 1. Chapter 1<br />Marketing Is All Around Us<br />
  2. 2. What is Marketing?<br />Marketing<br /> The process of planning, pricing, promoting, selling, and distributing <br />ideas, goods or services <br />to create exchanges that satisfy customers<br />Everything that happens between the idea and the sale<br />
  3. 3. Ideas, Goods, and Services<br />Ideas<br />Politics<br />“Living Better”<br />Goods<br />Tangible items that have monetary value and satisfy your needs and wants<br />Services<br />Intangible items that have monetary value and satisfy your needs and wants<br />
  4. 4. The Marketing Concept<br />The idea that a business should strive to satisfy customers’ needs and wants while generating a profit for the firm.<br />The focus is on the customer<br />What they want<br />What they need<br />What makes their lives easier<br />Products should be pulled onto the market by consumer wants, rather than pushed onto customers by companies<br />There are seven functions to support this.<br />
  5. 5. Seven functions of marketing<br />
  6. 6. Seven Functions of Marketing<br />The process of deciding how to get goods in customers’ hands. <br />Physically moving and storing the products<br />Truck, rail, ship or air<br />Involves the systems that track products<br />UPS Commercial<br />Getting the money that is necessary to pay for setting up and running a business.<br />Loans, selling stock, etc.<br />Also involves ways that customers can pay<br />Credit cards<br />Billing<br />1. Distribution<br />2. Financing<br />
  7. 7. Seven Functions of Marketing<br />Collection of information on customers, trends, and competing products<br />Gathering, storing and analyzing<br />Marketing Information Management<br />Pricing<br />How much to charge for goods and services<br />Must consider<br />What will customers pay?<br />How much does it cost us to produce?<br />How much do competitors sell for?<br />
  8. 8. Seven Functions of Marketing<br />Obtaining, developing, maintaining and improving a product or a product mix in response to market opportunities<br />Marketing research helps you know what customers want <br />The effort to inform or persuade customers about a business’s products or services.<br />Product Service Management<br />Promotion<br />
  9. 9. Seven Functions of Marketing<br />Selling<br />Provides customers with the goods and services they want<br />In retail stores<br />Business-to-business (B-2-B)<br />Involves:<br />Determining client needs<br />Persuading and influencing decisions<br />Responding to reactions<br />Forming relationships<br />
  10. 10. Economic Benefits of marketing<br />Competition fosters:<br />New and improved products<br />Lower Price<br />Added value and utility<br />
  11. 11. Types of Added Value and Utility<br />Utility<br />Functions that add value to a product<br />Utilities <br />the attributes of a product or service that make it capable of satisfying consumers’ wants and needs<br />
  12. 12.
  13. 13. Types of Added Value and Utility<br />Form<br />Changing raw materials or putting parts together to make them more useful<br />Taking things of little value and putting them together to create something of use (zipper + buttons + cloth + thread = jacket)<br />Place <br />Having your product in places people can easily buy<br />Time<br />Having a product available at desirable and convenient times of year or day<br />Possession <br />The exchange of a product for money<br />Ways consumers can pay (cash, credit card, layaway, PayPal)<br />Information<br />Communicating with the consumer<br />Salespeople<br />Packaging and Labeling<br />Advertising<br />
  14. 14. Fundamentals of Marketing<br />Market <br />All of the people who share similar needs and wants and who have the ability to purchase a given product<br />Are you part of the videogame market?<br />Are you part of the sports car market?<br />Consumer Market vs Industrial Market<br />Consumer Market<br />Consists of consumers who purchase goods and services for personal use<br />Industrial market (or Business-to-business)<br />Includes all businesses that buy products for use in their business operations<br />
  15. 15. Market Share<br />Search Engine Market Share<br />Total market<br />Can also be described by the total sales in a product category<br />Market Share<br />A company’s percentage of the total sales volume generated by all companies that compete in a given market.<br />
  16. 16. Market<br />anyone who has the desire and the means to buy<br />
  17. 17. Market<br />anyone who has the desire and the means to buy<br />Market Segments<br />Small groups of people within the market<br />
  18. 18. Market<br />anyone who has the desire and the means to buy<br />Market Segments<br />Small groups of people within the market<br />Target Market<br />The group chosen for a specific marketing program<br />Target Market:<br />Males, Ages 14-20<br />
  19. 19. Market<br />anyone who has the desire and the means to buy<br />Market Segments<br />Small groups of people within the market<br />Target Market<br />The group chosen for a specific marketing program<br />Target Market:<br />Males, Ages 14-20<br />
  20. 20. Certain products have more than one target market<br />1. Your product might have different groups of users<br /> Men – too much hassle to make coffee<br /> Women – you will feel like working out for a change<br />Who is 5-hour Energy Targeting?<br />
  21. 21. Certain products have more than one target market<br />2. Your product might have different group who purchases than who consumes<br />Consumers – the people consuming or using the product<br />Customers – the people who are buying the product<br />
  22. 22. What features on this package target Moms and what features target kids?<br />Moms<br />Kids<br />
  23. 23. Marketing Mix (4 P’s)<br />The activities that go into the selling of a product<br />
  24. 24. Marketing Mix<br />Product<br />Product Features<br />Packaging<br />Brand Name<br />Different versions or flavors<br />Place<br />Where product is distributed<br />Physical location<br />Stores sold in<br />Where within the store<br />Is it available online or direct?<br />Price<br />What is exchanged for the product<br />What do I have to sell a product for to make a profit?<br />What psychological impacts does a low or high price have?<br />Promotion<br />Decisions about advertising, selling, discounts and publicity<br />

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