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Marketing

Marketing. Chapter 7. Marketing is defined as: “revenue generating and profit creating activity” ( p . 135). Stanley Shapiro has identified five eras of marketing: 1. the simple trade era 2. the production era 3. the sales era 4. the marketing department era 5. the marketing company era.

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Marketing

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  1. Marketing

    Chapter 7

  2. Marketing is defined as: “revenue generating and profit creating activity” (p. 135)

  3. Stanley Shapiro has identified five eras of marketing:1. the simple trade era2. the production era3. the sales era4. the marketing department era5. the marketing company era
  4. Stanley Shapiro has identified five eras of marketing:1. The Simple Trade Era“a time when families trade or sold their surplus out to local intermediaries, who then resold these goods to other customers or distant intermediaries.”
  5. Stanley Shapiro has identified five eras of marketing:2.The Production Era“a time when a company focuses production of a few specific products – perhaps because few of these products are available in the market”
  6. Stanley Shapiro has identified five eras of marketing:3. The Sales Era (1929 – 1950)“a time when a company emphasizes selling because of increased competition.”
  7. Stanley Shapiro has identified five eras of marketing:4. The Marketing Department Era (1950-1960)“a time when a company all marketing activities are bought under the control of one department to improve short-run policy planning and to try to integrate the firms activities.”
  8. Stanley Shapiro has identified five eras of marketing:5. The Marketing Company Era (1960 - )A time when, in addition to short-run marketing planning, marketing people develop long-range plans. Sometimes ten or more years ahead, and the whole company effort is guided by the marketing concept.

  9. The Marketing ConceptThe idea that an organization should aim all of its efforts at satisfying its customers – at a profit.

  10. Micro MarketingThe performance of activities that seek to accomplish an organizations objectives by anticipating customer needs and directing the flow of need satisfying goods and services.
  11. Macro MarketingA social process that directs an economy’s flow of goods and services to effectively match supply and demand and to meet societies objectives.
  12. Critical Components of Marketing (p. 136)1. Target of the process – the market ‘you can’t set out to meet the market needs if you don’t know what they are’
  13. Critical Components of Marketing (p. 136)*#2-5 are considered the ‘Marketing Mix’, or the ‘4 Ps of Marketing’The challenge with the Marketing Mix is to come up with packages of product, price, promotion and place (distribution) features that target markets will find attractive.
  14. Critical Components of Marketing ‘Marketing Mix’, or the ‘4 Ps of Marketing’2. Product (p. 152)What needs will this product address?Marketing starts with product development.Bundle of features including customer service, location, image and reputation of the company and product packaging.
  15. Critical Components of Marketing ‘Marketing Mix’, or the ‘4 Ps of Marketing’3. Price (p. 155)Business exists to meet the market needs at a profit.Necessary to determine the price people will pay for a product and to determine if this price will cover the costs as well as provide a profit.
  16. Critical Components of Marketing ‘Marketing Mix’, or the ‘4 Ps of Marketing’4. Place (distribution) (p. 158)‘Often inseparable from the product’ (i.e. daycare center)
  17. Critical Components of Marketing ‘Marketing Mix’, or the ‘4 Ps of Marketing’5. Promotion (p. 159)Telling your target market about your product.Where can they buy it?Remember to ask these two questions: 1. What promotional methods and media to use? 2. How much money should be spent?
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