Chapter One The Nature of Marketing. Objectives bDefine & discuss marketing in its broadened sense...
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Transcript of Chapter One The Nature of Marketing. Objectives bDefine & discuss marketing in its broadened sense...
Chapter One
The Nature of Marketing
Objectives
Define & discuss marketing in its broadened sense
ID elements of the marketing mixExamine external environmental forcesIntroduce the marketing conceptRecognize marketing's societal &
economic contributionThe social marketing conceptUnderstand why it is important to study
marketing
Bringing Buyers and Sellers Together
PRODUCERPRODUCERPRODUCERPRODUCER
CONSUMERCONSUMERCONSUMERCONSUMER
MARKETINGMARKETINGMARKETINGMARKETING
A Definition of Marketing
“Marketing is the process of influencing voluntary exchange transactions in 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.”
Each gives something
up
Each gives something
up
Two ormore
parties
Two ormore
parties
Each receivessomething
Each receivessomething
CommunicationCommunication
Marketing: Marketing: 55
AspectsAspects
Marketing: Marketing: 55
AspectsAspectsExchange mechanismExchange mechanism
Relationship Marketing
What is a Market?
PotentialCustomer
s
ResourcesWillingnessAbility
The Marketing Mix:An Overview
Product
Place
Promotion
Price
Product
Tangible goods Service Intangible idea Total Product ConceptTotal Product Concept
Place
How do goods get to the customer?How quickly do they get there?In what condition will they arrive?
Promotion
Personal SellingPersonal Selling
Advertising: Direct or Mass MediaAdvertising: Direct or Mass Media
PublicityPublicity
Sales PromotionSales Promotion
InformInform
RemindRemind
PersuadePersuade
Promotion
Price
Marketing Mix: A Creative Activity
ProductProduct
PlacePlacePromotionPromotion
PricePrice
ConsumerConsumer
The Marketing Environment
TheConsumer
The Uncontrollable External Environment
Economic and competitive forces Natural resources and physical factors Science and technology Political and legal forces Demographic forces Sociocultural forces
Business Philosophies
Production Orientation
Sales Orientation
Market Orientation
The Marketing Concept
1st1st Consumer orientation
2nd2nd Stress long-run success 3rd3rd Adopt a cross-functional perspective
Marketing and Society
Macromarketing “the delivery of a
standard of living to society.”
Micromarketing“having the right goods
or services at the right time and the right place in the right assortment.”
Marketing and Society
Why Study Marketing?
Career opportunities Emerging cross-functional nature of
business Entrepreneurial opportunities More informed citizen and consumer Part of being an educated personFor more information:
http://zikmund.swcollege.com
Summary
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.
Review
Define & discuss marketing in its broadened sense
ID elements of the marketing mixExamine external environmental forcesIntroduce the marketing conceptRecognize marketing's societal &
economic contributionThe social marketing conceptUnderstand why it is important to study
marketing
