Intro to Marketing - Intro to Marketing Outline Chapter 1...

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Intro to Marketing Outline Chapter 1 Marketing- is the performance of activities that seek to accomplish an organization’s objective by anticipating customer or client needs and directing a flow of need-satisfying goods and services from producer to customer and client. Product “sells itself” bc of marketing success. -begins with customer needs. -ongoing relationship with customer/not just single sale. Marketing- much more than just selling and advertising. 1. Analyze needs of people who might buy the bike 2. Predict different types of bikes dif consumers will want, which people are we trying to satisfy 3. Estimate amt of people who will want to buy bikes and when 4. Where in the world these people are and how to get bikes to them. 5. What price are they willing to pay, profit? 6. How many competing companies 7. How to provide warranty service. -Costs about 50cents for every dollar made- Marketing. -Marketing promotes innovation-develop/spread of new ideas, goods, services. Micro-view-set of activities performed by organizations-satisfy needs of customer u serve Macro-view-a social process. Satisfy needs of all citizens. Directs economy’s flow of need-satisfying goods and services from producer to the whole marketing system works. Match heterogeneous supply and demand. -need universal functions of marketing -buying, selling, transporting, storing, grading, financing, risk taking, and market info. Overcome separations/discrepancies=goal -Micro isnt required to fufill all functions Production/Consumption errors: Dicrepancies of Quantity- producers prefer to sell in large quantities/consumers want to buy small quantities. Discrepancies of Assortment - producers specialize in producing narrow assortment/consumers need a broad assortment Spation Separation- Producers located where it is good to produce/ consumers are scattered. Separation in Time- Consumers don’t want to consumer products at the time producers want to make them. Ex. Transporting goods. Separation of Info.- Don’t kno who needs what, where, when, what price. Consumers don’t know what is available from whom,where, when, what price. Separation in Values- Producers value goods in terms of cost/competitive prices. .Cosumers value in terms of abililty to pay
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Separation in Ownership -producers hold title to goods and services they do not want to consume, consumers want goods they do not own. Intermediaries-retailers/wholesalers specialize in trade rather than production Collaborators-firms provide one or more marketing functions E-commerce- exchanges bt individuals or organizations based on applications of info technology. Every society needs an economic system- way an economy organizes to use scarce resources to produce goods and services and distribute them for consumption. command economy
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This note was uploaded on 04/07/2008 for the course BUAD 301 taught by Professor Mcnutt during the Spring '08 term at University of Delaware.

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Intro to Marketing - Intro to Marketing Outline Chapter 1...

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