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Chapter One

Chapter One. The Nature of Marketing. Objectives. Define & discuss marketing in its broadened sense ID elements of the marketing mix Examine external environmental forces Introduce the marketing concept Recognize marketing's societal & economic contribution The social marketing concept

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Chapter One

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  1. Chapter One The Nature of Marketing

  2. Objectives • Define & discuss marketing in its broadened sense • ID elements of the marketing mix • Examine external environmental forces • Introduce the marketing concept • Recognize marketing's societal & economic contribution • The social marketing concept • Understand why it is important to study marketing

  3. CONSUMER PRODUCER MARKETING Bringing Buyers and Sellers Together

  4. A Definition of Marketing “Marketing is the process of influencing voluntary exchangetransactionsin which one party to the transaction can be envisioned as a customer of the other, the marketer. The marketing process involves communication and requires a mechanism or system to carry out the exchange of the marketer’s product for something of value.”

  5. Marketing: 5 Aspects Exchange mechanism Two or more parties Communication Each gives something up Each receives something

  6. Relationship Marketing

  7. What is a Market? Resources Potential Customers Willingness Ability

  8. The Marketing Mix:An Overview Product Place Promotion Price

  9. Product • Tangible goods • Service • Intangible idea • Total Product Concept

  10. Place • How do goods get to the customer? • How quickly do they get there? • In what condition will they arrive?

  11. Promotion Advertising: Direct or Mass Media Personal Selling Publicity Sales Promotion

  12. Promotion Inform Remind Persuade

  13. Price

  14. Product Promotion Consumer Place Price Marketing Mix: A Creative Activity

  15. Uncontrollable External Marketing Environment Controllable Marketing Environment The Consumer The Marketing Environment

  16. The Uncontrollable External Environment • Economic and competitive forces • Natural resources and physical factors • Science and technology • Political and legal forces • Demographic forces • Sociocultural forces

  17. Market Orientation Business Philosophies Sales Orientation Production Orientation

  18. The Marketing Concept 1st Consumer orientation 2nd Stress long-run success 3rd Adopt a cross-functional perspective

  19. Marketing and Society Macromarketing “the delivery of a standard of living to society.”

  20. Marketing and Society Micromarketing “having the right goods or services at the right time and the right place in the right assortment.”

  21. Why Study Marketing? • Career opportunities • Emerging cross-functional nature of business • Entrepreneurial opportunities • More informed citizen and consumer • Part of being an educated person • For more information: www.zikmund.swcollege.com

  22. The function of marketing is to bring buyers and sellers together. The primary emphasis of marketing is an exchange process that involves two or more parties trading things of value. Summary

  23. Review • Define & discuss marketing in its broadened sense • ID elements of the marketing mix • Examine external environmental forces • Introduce the marketing concept • Recognize marketing's societal & economic contribution • The social marketing concept • Understand why it is important to study marketing

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