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Marketing

Marketing . Ms. Alexander. Four Types of Utilities. Form: the conversion of raw materials and components into finished products Time: Availability of goods and services when consumers what them Place: Availability of goods and services at convenient locations

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Marketing

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  1. Marketing Ms. Alexander

  2. Four Types of Utilities • Form: the conversion of raw materials and components into finished products • Time: Availability of goods and services when consumers what them • Place: Availability of goods and services at convenient locations • Ownership (possession): Ability to transfer title from marketer to buyer

  3. Form Utility • Examples of form utility • Glass, plastic, metals, circuit boards to make cameras, televisions • Material, leather, thread to make handbags • Contestants, a host, producers to create television reality shows

  4. Time and Place Utilities • Time and place utility occurs when consumers find goods and services available when and where they want them • Examples: vending machines, overnight courier services, convenience stores

  5. Ownership (Possession) Utility • Ownership utility transfer of goods and services from market to buyer at the time of purchase creates ownership utility.

  6. Customers • Three-step approach: • Identify needs in the marketplace • Determining which needs the organization can profitably serve • Developing an offering to convert potential buyers into customers.

  7. Four Eras of Marketing • Production Era: focus on production • Sales Era: focus on sales • Marketing Era: shift in focus from products and sales to satisfying customer needs • Relationship Era: focus on establishing relationships with customers and suppliers

  8. Marketing Myopia • Marketing myopia is a management’s failure to recognize the scope of its business • To avoid marketing myopia companies must broadly define the scope of its business.

  9. Not-For-Profit Orgranizations • Not-for-profit organizations hope to generate as much revenue as possible to support their cause. • Not-for-profit organizations must often market to multiple publics—clients and their sponsors

  10. Nontraditional Marketing • Person Marketing: marketing efforts designed to cultivate the attention and preference of a target market toward a person • Place Marketing: efforts are designed to attract visitors to a particular area; improve consumer images of a city, state, or nation and/or to attract new business

  11. Nontraditional Marketing • Cause Marketing: Identification and marketing of a social issue, cause, or idea to selected target markets • Event Marketing: Marketing of a sporting, cultural, and charitable activities to selected target markets • Organization marketing: Marketing efforts of mutual-benefit to influence others

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