Chap. 1 - Chapter1 Chapter1 Marketing Principles Marketing...

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Chapter 1 Chapter 1 Dr. Robert L. Harrison III Marketing Principles: Marketing Principles: An Introduction to An Introduction to Marketing Marketing
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What is Marketing? A social and managerial process by which individuals  and groups obtain what they need and want through  creating and exchanging products and value with  other.
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What is a Market? The set of actual or potential buyers of a product Originally a market was a place where buyers and sellers  gather for exchange Economists use the term to describe a collection of buyers and  sellers in particular product class (i.e. housing and grain)
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Marketing Management Production Concept Product Concept Selling Concept Marketing Concept Societal Marketing Concept Management Orientations
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Production Concept Consumers favor products that are available and  highly affordable Management should focus on improving efficiency Two situations when production concept is most  useful: 1. Demand exceeds supply 2. Product cost is too high
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This note was uploaded on 12/14/2010 for the course MKT 2500 taught by Professor Harrison during the Spring '10 term at Western Michigan.

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Chap. 1 - Chapter1 Chapter1 Marketing Principles Marketing...

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