ch12-pp - Learning Objectives Chapter 12 s Explain what...

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Learning Objectives – Chapter 12 Explain what marketing is. Describe the four utilities created by marketing. Explain why and how companies learn about their customers. List five factors that influence the buyer's purchase decision. Discuss how marketing research helps the marketing effort, and highlight its limitations. Outline the three steps in the strategic marketing planning process. Define market segmentation and review five factors used to identify segments.
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Marketing Defined AMA Defines Marketing: Planning and executing the conception Planning and executing the conception of pricing, promotion, and distribution of pricing, promotion, and distribution of ideas, goods, and services to Create of ideas, goods, and services to Create exchanges that satisfy individual and exchanges that satisfy individual and organizational objectives. organizational objectives.
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MARKETING MARKETING Place Marketing Cause- Related Marketing Needs Wants Exchange Process Transaction
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Form Utility Time Utility Place Utility Possessio n Utility Marketing & Marketing & Adding Value Adding Value
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Utility Definitions Form Utility: The converting of raw materials and other inputs into finished goods and services. Time Utility: Is created by having a product or service available when consumers want to purchase it. Place Utility: Is having the product available where the customer expects it to be, in a convenient location for customers. Possession Utility: The transfer of ownership of goods or services from the seller to the buyer.
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Utility Examples Form Utility: Sunkist Fun Fruits appeal to youngsters because of their imaginative shapes—numbers, dinosaurs, letters, spooks, animals. The bite-sized fruit snacks are both functionally and psychologically satisfying. Time Utility: LensCrafters has captured a chunk of the market for eyeglasses by providing on-the-spot, one-hour service. Place Utility:
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ch12-pp - Learning Objectives Chapter 12 s Explain what...

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