Powerpoints Segment 1

Powerpoints Segment 1 - SEGMENT 1 SEGMENT(Related chapter...

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Unformatted text preview: SEGMENT 1 SEGMENT (Related chapter in text: 1) INTRODUCTION AND INTRODUCTION OVERVIEW OVERVIEW Learning objectives Learning Define marketing and be able to Define distinguish it from selling, advertising, and public relations. advertising, s Understand the concept of customer Understand value and its centrality to marketing. value s Understand how marketing creates Understand value through the exchange process. value s Learning objectives Learning Define marketing mix, marketing Define program, and “S.T.P.” marketing. program, s Describe the important ways in Describe which a marketing orientation differs from production and sales orientations. orientations. s ADVERTISING AGE’S ADVERTISING “MARKETERS OF THE “MARKETERS [20TH] CENTURY” MARKETING (2007 AMA) MARKETING s Marketing Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. society SOME OTHER DEFINITIONS OF MARKETING OF s The The purpose of a business is to create and retain customers. create s Marketing is the profitable Marketing creation of customer value. creation s CUSTOMER VALUE: The The unique combination of benefits received by targeted buyers that includes quality, price, convenience, on-time delivery and both before-sale and after-sale service. and SOME SYNONYMS FOR VALUE VALUE UTILITY UTILITY q SATISFACTION SATISFACTION q BENEFIT BENEFIT q TYPES OF UTILITY TYPES TIME TIME q PLACE PLACE q FORM FORM q POSSESSION POSSESSION q MARKETING CREATES CUSTOMER VALUE THROUGH THE PROCESS OF EXCHANGE MARKETING MANAGEMENT FACILITATES THE EXCHANGE OF VALUE MARKETING MIX MARKETING Controllable factors of Controllable Product, Price, Promotion, and Place (the 4 P’s) used by marketing managers by PRODUCT PRODUCT Variety x Quality x Design x Features x Brand name x Packaging x Services x Warranties x PRICE PRICE x List Price x Discounts x Allowances x Payment period x Credit terms PLACE PLACE x Channels x Locations x Inventory x Transportation x Atmospherics PROMOTION PROMOTION x Sales promotion x Advertising x Salesforce x Public relations x Direct Marketing x E-commerce MARKETING PROGRAM MARKETING A plan that integrates the plan marketing mix to provide a product, service, or idea to prospective customers prospective MARKET SHARE MARKET s Ratio Ratio of the firm’s sales revenues to total industry sales revenues (including the firm’s) (including s Sometimes measured in unit sales Sometimes rather than sales revenue rather s A key indicator of a successful key marketing program marketing EXAMPLE: Mops, Brooms and Cleaning Tools 2002 Industry Sales: $440 million Brands Swiffer Pledge Grab It Quickie Libman Rubbermaid All Others Sales Revenues $83 million $51 million $35 million $18 million $17 million $236 million Market Share 18.9% 11.6% 8.0% 4.1% 3.9% “S.T.P.” Marketing Segmentation Segmentation x Targeting Targeting x Positioning Positioning x FOUR BUSINESS ORIENTATIONS ORIENTATIONS Production orientation Production q Sales orientation Sales q Marketing orientation Marketing q Market orientation Market q ...
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