Marketing in a Changing World: Creating Customer Value and Satisfaction
What is Marketing?
Process by which individuals and groups obtain what they need and want through need want creating and exchanging products and value exchanging product
Retailing and Wholesaling
What is Retailing?
the activities Involved in Selling Goods or Services Directly to Final Consumers for Their Personal, Nonbusiness Use.
Retailing can be done in stores (store retailing)
Integrated Marketing Communication Strategy
Marketing Communication Mix or Promotion Mix
Stores that Sell the Product
The Changing Communications Environment
Market Fragmentation Led to
Advertising, Sales Promotion, and Public Relations
Advertising is centuries old. U.S. advertisers spend in excess of $212 billion each year; worldwide spending exceeds $414 billion. Advertising is used by:
Business firms, Nonpr
Personal Selling and Sales Management
Nature of Personal Selling
Most salespeople are welleducated, well trained professionals who work to build and maintain longterm relationships with customers. The term salesperson covers a wide spectrum
The Global Marketplace
Global Marketing into the TwentyFirst Century
The world is shrinking rapidly with the advent of faster communication, transportation, and financial flows. International trade is booming and now accounts for a quarter o
What is the Nature Of Distribution Channels? How do Channel Firms Interact and Organize to do the Work of the Channel? What Role Does Physical Distribution Play
Pricing Products: Pricing Considerations and Strategies
New Product Pricing Strategies
Setting a High Price for a New Product to "Skim" Maximum Revenues from the Target Market.
Use Under These Conditions:
Results in Fewer,
Marketing Research and Information Systems
The Importance of Information
Companies need information about their:
Managers don't need more information, they need better information.
Marketing environment Competition Customer needs
Consumer Markets and Consumer Buying Behavior
Consumer Buying Behavior
Consumer Buying Behavior refers to the buying behavior of final consumers individuals & households who buy goods and services for personal consumption. All these consumers
Business Markets and Business Buyer Behavior
What is a Business Market?
A business market comprises all the organizations that buy goods and services for use in the production of other products and services that are sold, rented, or supplied t
Product and Services Strategy
What is a Product?
A Product is anything that can be offered to a Product market for attention, acquisition, use, or consumption and that might satisfy a want or need. Includes:
Physical Objects Services Events
Futures Market Participants
Assumes the risk of price change for profit Buy Low-sell high Sell high-buy low
Transfers risk of price change to the market Wants to lock in a profit margin greater than costs
Speculator is Price Risk Taker