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Unformatted text preview: Marketing #1-A I nt roduction • What is Marketing? o Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual needs as well as organizational goals. o Ex) The sale of the ‘Peoples’ Car’ $2,500 • The Core Issues: o Performed by; individuals and organizations o Consists of; activities o Occurs in;a dynamic environment o Product development, pricing, distribution, and promotion o Facilitates; exchange relationships helps create –place utility –time utility o Place; making products available where customer wants to find them Ex) Coke –vending machines o Time; making products available when customer wants to find them • As Marketers, our job is to: o Create Value for consumers The Marketing Concept • I t is the way of thinking about an organization’s range of activities • Customer satisfaction is the major thrust of the marketing concept • A total company effort • We would like to satisfy the customer Company Orientations • The Production Concept: o The consumers prefer products that are widely available and inexpensive • During Industrial Revolution; prior to Marketing Concept • The Product Concept: o Consumers prefer products that offer the most quality, performance or...
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This test prep was uploaded on 04/21/2008 for the course MKT 2300 taught by Professor Biswass during the Fall '07 term at Wayne State University.
- Fall '07