BUAD110 Chapters 13 and 14 - Marketing

BUAD110 Chapters 13 and 14 - Marketing - Chapter 13(Unit...

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Chapter 13(Unit II) – Marketing: Building Customer Relationships I. What is marketing? - Not only “selling” or “advertising” - Marketing – the process of planning and executing the conception, pricing, promotion, and distribution of goods and services to facilitate exchanges that satisfy individual and organizational objectives A. The Evolution of Field Marketing - The evolution of marketing can be divided into four eras: - The Production Era : Early America until early 1900s. Produce as much as you can because there is a limitless market. Business owners were generally farmers, carpenters, trade workers. - The Selling Era : By 1920s, businesses developed mass-production techniques. Emphasis on production turned to emphasis on selling since production capacity exceeded market demand. - The Marketing Concept Era : After WWII, tremendous demand for goods and services among returning soldiers, launched the baby boom. Competition was fierce and the marketing concept emerged. The marketing concept had three parts: customer orientation, service orientation, and profit orientation. The marketing concept started to be applied most aggressively during the 1980s. - The Customer Relationship Era : In the 1990s and early 2000s business extended the marketing concept and added customer relationship management. CRM is the process of learning as much as possible about customers and doing everything you can to satisfy them, or even exceed their expectations, with goods and services over time. B. Nonprofit Organizations and Marketing - Marketing is critical part of all organizations; even those not looking to earn a profit. - Ex. Red Cross uses promotion to encourage people to donate blood, Churches use marketing to attract new members and raise funds, Politicians use marketing to get votes. Marketing is used to promote everything from environmentalism to crime prevention to social issues. II. The Marketing Mix - What marketing people do has been conveniently divided into four factors: 1. Product, 2. Price, 3. Place, and 4. Promotion – all called the Marketing Mix . A. Applying the Marketing Process - First, need to identify who may be interested in your product – your target market .
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B. Designing a Product to Meet Needs - Product – any physical good, service, or idea that satisfies a want or need plus anything that would enhance the product in the eye of the consumers, such as the brand. - Do concept testing – ask people whether the concept appeals to them. - Do test marketing – the process of testing products among potential users. - Brand name – a word, letter, or group of words or letters that differentiates one seller’s goods and services from those of competitors. C. Getting the Product to the Right Place
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This note was uploaded on 04/07/2008 for the course BUAD 110 taught by Professor Kydd during the Fall '07 term at University of Delaware.

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BUAD110 Chapters 13 and 14 - Marketing - Chapter 13(Unit...

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