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Marketing is Dynamic

Marketing is Dynamic. We will be able to…. State the main goal of marketing Describe the 4 P’s of marketing Distinguish among a good, service, and idea Explain how marketers determine the marketing mix. Introduction Activities. List some activities that are associated with marketing!.

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Marketing is Dynamic

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  1. Marketing is Dynamic

  2. We will be able to… • State the main goal of marketing • Describe the 4 P’s of marketing • Distinguish among a good, service, and idea • Explain how marketers determine the marketing mix

  3. Introduction Activities List some activities that are associated with marketing!

  4. Marketing Activities • Developing a new video game • Asking customers their opinion • Arranging financing for a purchase • Ordering a new shipment of jeans • Displaying the new jeans in the store window • Deciding the price to charge for new products

  5. How would you define Marketing? • Current definitions • “To sell lots of stuff and make lots of money.” -Sergio Zyman, Former Chief Marketing Officer at Coca-Cola • “The whole firm, taken from the customer’s point of view.” – Peter Drucker: Business Management Consultant • “ To reach customers and compel them to purchase, use, and repurchase your product.” – Alexander Hiam, Marketing Consultant

  6. Our Basic Definition • Marketing • Consists of dynamic activities that focus on the customer to generate a profitable exchange • The goal is to meet customers’ needs and wants

  7. What does dynamic mean? • Dynamic- something that is constantly changing • What does this have to do with marketing??? Customers needs and wants are always changing…

  8. Why are customers needs changing? • Customers change • Age • The world is changing • Interests may change

  9. Customer-Focused • Customer is an individual or group who buys products • Individual person • A business • Government Main Goal is to meet the customers needs and wants

  10. Marketing is Relationships • Based on the relationships between the buyer and the seller • Cheaper to keep current customers than to get new customers Must focus on developing and maintaining relationships with our customers!!!

  11. How can we develop relationships? • Contact customer after purchase • Reward repeat customers • Discounts • Free products DEVELOP CUSTOMER LOYALTY

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