noteshells in word

noteshells in word - NOTESHELLS 1 SEGMENT 1 : INTRODUCTION...

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Unformatted text preview: NOTESHELLS 1 SEGMENT 1 : INTRODUCTION AND OVERVIEW (Related chapter in text: 1) LEARNING OBJECTIVES 1. Define marketing and be able to distinguish it from selling, advertising, and public relations. 2. Understand the concept of customer value and its centrality to marketing. 3. Understand how marketing creates value through the exchange process. 4. Define marketing mix, marketing program, and S.T.P. marketing. 5. Describe the important ways in which a marketing orientation differs from the production and sales orientations. ADVERTISING AGES MARKETERS OF THE [20 TH ] CENTURY MARKETING (2007 A.M.A.): Marketing is the activity, set of institutions, and processes for creating, Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. and society at large. SOME OTHER DEFINITIONS OF MARKETING The purpose of a business is to create and retain customers. Marketing is the profitable creation of customer value. CUSTOMER VALUE: 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. SOME SYNONYMS FOR VALUE: UTILITY SATISFACTION BENEFIT TYPES OF UTILITY: TIME PLACE FORM POSSESSION MARKETING CREATES CUSTOMER VALUE THROUGH THE PROCESS OF EXCHANGE. 3 MARKETING MANAGEMENT FACILITATES THE EXCHANGE OF VALUE. MARKETING MIX: Controllable factors of Product, Price, Promotion, and Place (the 4 P's) used by marketing managers. P roduct Variety Quality Design Features Brand name Packaging Services Warranties P rice List price Discounts Allowances Payment period Credit terms Place Channels Locations Inventory Transportation Atmospherics 4 P romotion Sales promotion Advertising Sales force Public relations Direct Marketing E-commerce MARKETING PROGRAM: A plan that integrates the marketing mix to provide a product, service, or idea to prospective customers. MARKET SHARE: Ratio of the firms sales revenues to total industry sales revenues (including the firms) Sometimes measured in unit sales rather than sales revenues A key indicator of a successful marketing program EXAMPLE Mops, Brooms and Cleaning Tools 2002 Industry Sales: $440 million Brands Sales Revenues Market Share Swiffer $83 million 18.9% Pledge Grab It $51 million 11.6% Quickie $35 million 8.0% Libman $18 million 4.1% Rubbermaid $17 million 3.9% All Others $236 million 5 S.T.P. Marketing Segmentation Targeting Positioning FOUR BUSINESS ORIENTATIONS Production orientation Sales orientation Marketing orientation Market orientation 6 S EGMENT 2 : THE MARKETING ENVIRONMENT (Related chapter in text : 3)...
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This note was uploaded on 02/14/2011 for the course MAR 3023 taught by Professor Lutz during the Spring '08 term at University of Florida.

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noteshells in word - NOTESHELLS 1 SEGMENT 1 : INTRODUCTION...

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