Chapter 1 Intro.pptx - Marketing Is All Around Us Chapter...

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Marketing Is AllAround UsChapter 1.1Marketing and the MarketingConceptObjectives:• Describe the scope of marketing• Describe each marketing core function• Explain the marketing concept
What isMarketing?
Why do you thinkthat marketing iseverywhere insociety?
Marketing is ALL aroundyouLikes and Dislikes?What influenced your decisionStart thinking like a marketer rather than acustomer!
Marketing is A ProcessOngoing and changes all the timeIt keeps up with trends and consumerattitudesThe way that you price, promote, anddistribute goods and services shouldreflect these trends and attitudes
How would you describe the customer targeted bythis ad?Evaluate the visual components of the ad. How doesthe visual complement the text?Look at the ad on page 3
How wouldyou definemarketing?How has marketinginfluenced yourpurchases?In your opinion, what isthe most effective formof marketing?
GoodsTangibles items that have monetary value andsatisfy your needs and wants. You can touchthem!ServicesIntangible items that have monetary valueand satisfy your needs and wants. Cannot bephysically touched
7 Functions of MarketingActivities that work together to getgoods and services from producers toconsumersEACH IS ESSENTIAL
Deciding where and to whom products need to be soldto reach the final users.Distribution
Getting the money necessary to operate abusinessFinancing
Getting information to make sound businessdecisions.Usually obtained through marketingresearchMarketing InformationManagement
For example, after a stay at a luxury hotel,you fill out a form rating the service andaccommodations.
How much to charge to maximize profitsPricing
Obtaining, developing, maintaining, and improvinga product or a product mix in response to marketopportunities.Product ServiceManagement
Communicating with potential customers to inform,persuade, or remind them about a business’sproductsPromotion
Planned, personalized communication thatinfluences purchasing decisionsSelling

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Term
Fall
Professor
J Gornto
Tags
Marketing, Chapter 1 Introduction

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