rewards of marketing

1. presented by robert cascio doctoral candidate, department of marketing, university of central florida rewards of marketing

2. what is marketing? • American Marketing Association definition: “Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.”

3. what do people in marketing do?

4. segment • identifying deliberate, specific groups of individuals with one or more common characteristics.

5. target • prepare and deliver specific messages aimed at these deliberate, specific groups of individuals.

6. position • strategically determine how the product or service is perceived in the minds of the customers.

7. segment, target, position • how do we do this?

8. 4P’s of marketing

9. product the tangible good or the intangible service we want consumers to purchase a collection or bundle of benefits being offered can include an actual item and the customer service or guarantee that comes with it what the consumer perceives is most important – this means how it is positioned

10. price cost of the item payment terms – immediate or delayed method of payment – cash, bank card, paypal, personal check, invoice, online payment what is most important is the value perceived by the customer – price can influence this value.

11. place how can the product be acquired exclusive distribution or non-exclusive distribution retail store internet only in certain countries or cities what is most important is the consumer’s perception from the choices that marketers make with regard to place.

12. promotion how do we tell consumers about our product or service what specifically do we tell them? where do we tell them this? who or what tells them this information? how often do we tell them? why do we tell them?.

13. promotion mix advertising publicity public relations personal selling direct marketing.

14. summary: 4P’s of marketing

15. why people choose marketing? – 4F’s

16. financial • anyone interested in a good income? • paid according to performance, particularly in sales • many top corporate executives are from marketing backgrounds.

17. freedom • limited desk and office time • excellent career opportunities • positions are self-funded • marketers are revenue creators • sales is recession proof.

18. flexibility • marketing encompasses many functions: • product development • pricing strategies • distribution methods • promotion • personal selling, advertising, public relations • non-profit sector • services sector • e-business.

19. fun • creative • consumer behavior • advertising design • learn about multiple business types

20. fun marketing examples product advertising international advertising consumer promotion consumer usage public responsibility

21. summary: why choose marketing?

22. summary: 4P’s of marketing

23. thank you • is a marketing career best for you? • www.robertcascio.com – more information about research and opportunities in marketing • robertcascio@knights.ucf.edu – my email for comments or questions