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| Marketing is the process of planning and executing the conception, pricing, promotion, and distriution or products, services, and ideas to create exchanges that satisfy individual and organizational objectives. |
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Organizations- Buisnesses selling goods or services, non-profit, govermental agencies.
Individuals- you, marketing yourself. Politician, marketing herself. |
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| consumers, like you and me,Buisnesses that buy, non-profit organizations, governmental entities, publics |
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| People or organizations with needs, an exchange medium, and a willingness to engage in the exchange process. The actual or potential buyers of a product, exchange medium is "money", willingness to "exchange" is a willingness to "buy" |
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Satisfaction generated by- how the product functions and how well it works.
Buy many products primarily for this tyoe of utility- tools, appliances, computers |
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Satisfaction generated by having products 'when' we want them. Ex. Drive thru window
Often willing to pay more because of the value we place on our 'time' |
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| Satisfaction generated by having products 'where' we want them. Ex. In home delivery, convenience stores |
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| Ego, social communication, Closely tied to 'self concept', Ex. designer clothes, cars, Jewelry, Homes |
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| A good, servic, or idea that offers a bundle of tangible and intangible attributes to satisfy custmores' wants and needs. |
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Consumer products ie. motorcycles
Industrial products purchased to operate buisnesses
Services ie. plumbing, lawn services
Professional consulting services
Places ie. vacation spot
People, ideas or causes |
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| A measure or expression of the value (in terms of money, goods, or services) of a good or service. |
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1.What base price to charge?,
2.How do I manage price over time?,
3.What adjustments to base price are needed? |
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| Advertising, Personal Selling, Sales Promotion, Publicity, Public Relations |
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| Institutional Advertising |
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| Advertising does not have to promote products-- "Institutional" ads promote the image of the company |
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1. Product Trial
2. Easy payments--installments
3. Standardized parts for easy replacement, repair.
4. Brochures, full color ads
5. Warranties, recalls
6. Customer service, winter maintenance teams |
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Philosophy- Acceptable quality products at affordable price sell themselves.
Objective- Minimize costs to lower proces, keep quality high.
How?- focus on production and distribution efficiency |
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Philosophy- Products don't necessarily sell themselves. customers must be convinced to buy products.
Objective- Maximize sales revenue.
How?- Aggressive promotion to create demand. |
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Philosophy- Satisfied Customer wants and needs.
Objective- Customer & profit orientation in whole firm.
How?- Focus on total marketing mix. |
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| The Societal Marketing Concept |
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| Extends the marketing concept to expect organizations to: act in a socially responsible manner; consider he ethical consequences of their actions; and consider the collective needs of society as well as customer desires or the organization's profits. |
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| Societal Marketing Concept |
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Philosophy- Satisfied customer wants and needs
Objective- customer & profit orientation in the whole firm; Society's interests protected.
How?- Focus on total marketing mix tempered with social concern. |
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| Building strong, ongoing relationships with buisness partners that lead to better channel arrangements & efficiencies. |
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