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Marketing

10. Marketing. 10-1 Marketing Basics 10-2 Develop Effective Products and Services 10-3 Price and Distribute Products 10-4 Plan Promotion. LESSON 10-1 Marketing Basics. Goals Define important marketing concepts. Identify the steps in a marketing strategy.

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Marketing

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  1. 10 Marketing 10-1 Marketing Basics 10-2 Develop Effective Products and Services 10-3 Price and Distribute Products 10-4 Plan Promotion

  2. LESSON 10-1Marketing Basics Goals • Define important marketing concepts. • Identify the steps in a marketing strategy. • Describe the consumer decision-making process. Chapter 10

  3. marketing marketing strategy target market marketing mix marketing orientation final consumers business consumers consumer decision-making process buying motives Key Terms Chapter 10

  4. UNDERSTAND MARKETING • Marketing activities • Marketing businesses • Marketing functions Chapter 10

  5. MARKETING FUNCTIONS Chapter 10

  6. >> C H E C K P O I N T Define marketing and the seven marketing functions. Chapter 10

  7. MARKETING STRATEGY • Marketing planning • Develop a successful marketing strategy • Identify a target market • Create a marketing mix Chapter 10

  8. >> C H E C K P O I N T What are the two steps in developing a marketing strategy? Chapter 10

  9. UNDERSTAND CUSTOMERS • Consumer decision-making • Buying motives Chapter 10

  10. STEPS IN THE CONSUMER DECISION-MAKING PROCESS 1. Recognize a need. 2. Gather information. 3. Select and evaluate alternatives. 4. Make a purchase decision. 5. Determine the effectiveness of the decision. Chapter 10

  11. >> C H E C K P O I N T What are the steps in the consumer decision-making process? Chapter 10

  12. LESSON 10-2Develop Effective Products and Services Goals • Justify the importance of marketing research. • Identify the components of a product. • Describe how services differ from products. Chapter 10

  13. marketing research product services intangible inseparable perishable heterogeneous Key Terms Chapter 10

  14. CREATE AND IMPROVE PRODUCTS • Totally new products • Major improvements in existing products • Minor improvements in existing products Chapter 10

  15. PLAN MARKETING RESEARCH • Steps in marketing research 1. Define the marketing problem. 2. Study the situation. 3. Develop a data collection procedure. 4. Gather and analyze information. 5. Propose a solution. Chapter 10

  16. TYPES OF RESEARCH STUDIES • Surveys • Focus groups • Observations • Experiments Chapter 10

  17. >> C H E C K P O I N T List the steps in a marketing research study. Chapter 10

  18. PRODUCT PLANNING • Parts of a product • Product planning procedures • Idea development • Idea screening • Strategy development • Production and financial planning • Limited production and test marketing • Full-scale production Chapter 10

  19. >> C H E C K P O I N T What are the components of a product? Chapter 10

  20. SERVICES • Intangible • Inseparable • Perishable • Heterogeneous Chapter 10

  21. >> C H E C K P O I N T In what ways are services different from products? Chapter 10

  22. LESSON 10-3Price and Distribute Products Goals • Discuss how the selling price of a product is calculated. • Differentiate between a direct and an indirect channel of distribution. Chapter 10

  23. Key Terms • price • distribution • channel of distribution • channel members Chapter 10

  24. VALUE AND PRICE • Buyers usually want to pay the lowest price possible. • Sellers want to charge the highest price possible. Chapter 10

  25. PRICING FACTORS • Supply and demand • Uniqueness • Age • Season • Complexity • Convenience Chapter 10

  26. Selling price Product costs Operating expenses Profit Gross margin PRICE A PRODUCT Chapter 10

  27. PRICE A PRODUCT • Markup • Markdown Chapter 10

  28. >> C H E C K P O I N T What is the formula for calculating the selling price of a product? Chapter 10

  29. CHANNELS OF DISTRIBUTION • Need for distribution channels • Differences in quantity • Differences in assortment • Differences in location • Differences in timing • Channels and channel members Chapter 10

  30. >> C H E C K P O I N T What is the difference between a direct and an indirect channel of distribution? Chapter 10

  31. LESSON 10-4Plan Promotion Goals • Justify the importance of communication in marketing. • Identify and describe the common types of promotion. Chapter 10

  32. Key Terms • promotion • effective communication • personal selling • advertising Chapter 10

  33. COMMUNICATION • The communication process • Communicating through promotion Chapter 10

  34. COMPONENTS OF EFFECTIVE COMMUNICATION Chapter 10

  35. >> C H E C K P O I N T How does identifying a target market improve promotion communications? Chapter 10

  36. PROMOTION • Personalized promotion • Mass promotion • Mass personalization Chapter 10

  37. >> C H E C K P O I N T Describe the advantages and disadvantages of the major types of promotion. Chapter 10

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