Download Marketing!

Marketing!
What’s it all
about?
Marketing and Business LAP 1
Marketing
 “The
process of planning and executing
the conception, pricing, promotion, and
distribution of ideas, goods, and
services to create exchanges that
satisfy the wants and needs of
customers.”
Marketing and Business LAP 1
It is a process. It involves. . .
Product Planning
 Begins with what goods, services, and
ideas to produce or sell in order to
satisfy consumers’ needs and wants.
 Analyzing potential consumers to
determine who they are and what items
to produce or sell in order to satisfy
them.
Marketing and Business LAP 1
It is a process. It involves. . .
Pricing
 Items must be priced so that consumers
want to buy them.
 Price indicates quality and/or value to
consumers.
 Price must be set to enable businesses
to make a profit, but still be able to
compete with others.
Marketing and Business LAP 1
It is a process. It involves. . .
Promoting
 Marketing helps to create and stimulate
demand for products by informing
people about them.
 Advertising, Sales promotion, Publicity,
and Personal Selling are forms of
promotion.
Marketing and Business LAP 1
It is a process. It involves. . .
Distributing (Place)
 Involves shipping, handling, and storing
of items on the way from the producers
to the consumer.
 Ensures that items are available when
and where they are needed.
Marketing and Business LAP 1
What is Marketed?
 Durable
Goods - desks, computers, houses
 Nondurable Goods - food, cosmetics, gasoline
 Services - banking, health care, job placement
 People - Athletes, Musicians, Political Candidates
 Places - Honeymoon locations, vacations
 Organizations - NCAA, Labor unions, Art museums
 Ideas - “Pitch in”, “Buckle up for Safety”
Marketing and Business LAP 1
Benefits of Marketing
Raises
the standard of living.
Adds utility to goods and
services.
Makes buying convenient.
Maintains reasonable prices.
Marketing and Business LAP 1
Benefits of Marketing
Improves
the quality of life.
Provides a variety of goods and
services.
Increases production.
Marketing and Business LAP 1
Where does Marketing occur?
Marketing is all around us!
 All types of businesses use marketing:
Producers
Wholesalers
Retailers
Marketing and Business LAP 1
Where does Marketing occur?
 It
occurs in service-selling businesses.
Examples:
Banks, Real estate agencies, Hospitals,
Dentists, Hotels/Motels, etc...
 It occurs in nonprofit organizations.
Examples:
Churches, Universities, Labor unions
Marketing and Business LAP 1
Marketing Concept
 To
succeed in business, managers
must base their decisions on the needs
and desires of consumers.
 Businesses must give consumers what
they want.
Marketing and Business LAP 1
Elements of the Marketing
Concept
Customer Orientation
 Businesses must determine how they
can produce items people want and
how can they do that more effectively.
 Base decision-making about products
on customer’s needs and wants.
Marketing and Business LAP 1
Elements of the Marketing
Concept
Company Commitment
 An organization that applies the
marketing concept must focus all of its
efforts on satisfying customer needs.
 The marketing concept must become a
part of the entire organization.
Marketing and Business LAP 1
Elements of the Marketing
Concept
Company Goals
 A company should achieve its goals by
giving customers what they want.
 Companies exist by achieving their long
term goals- not by making quick sales
and not achieving customer needs and
wants.
Marketing and Business LAP 1
Why is Marketing Important?
Increased
production capacity.
Increased buying power of
consumers.
Need for coordinating production
and consumption.
Marketing and Business LAP 1
Why is Marketing Important?
One-third
of all workers are in
marketing jobs.
Majority of businesses in the US
are marketing-type businesses.
Fifty cents of every sales dollar
goes to cover the costs of
marketing.
Marketing and Business LAP 1
Without Marketing. . .
 Increased
personal contact with
businesses.
 Less variety in products.
 Fewer product improvements.
 Fewer products developed.
 Increased stock shortages or overages.
Marketing and Business LAP 1