MKT 280 - Ch 1 - Fall 2007

MKT 280 - Ch 1 - Fall 2007 - MarketingToday Chapter1...

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Marketing Today Chapter 1
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What is marketing? Marketing Anticipation, management, and satisfaction of  demand through the exchange process. Anticipation External trends Management Internal Exchange process
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External Marketing Environment Demographics Social Change Economic Conditions Political & Legal Factors Technology Competition Environmental Scanning Target Market Product Place Promotion Price External Environment is not controllable Ever-Changing Marketplace
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Marketing Concept 5 elements of the marketing concept Consumer orientation Examination of consumer needs Wal-Mart v. Nordstrom’s Market driven approach Direct and Indirect competition Value based philosophy Is a low price required?
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Examples of Levels of Competition – Market  competition Diet-Rite Cola Diet Pepsi Diet Coke Product from competition: diet colas Regular colas Diet lemon limes Lemon limes Fruit flavored colas
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MKT 280 - Ch 1 - Fall 2007 - MarketingToday Chapter1...

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