Download Marketing Management: The Nature of Marketing

Chapter One
The Nature of Marketing
Objectives
Define & discuss marketing in its broadened
sense
ID elements of the marketing mix
Examine external environmental forces
Introduce the marketing concept
Recognize marketing's societal & economic
contribution
The social marketing concept
Understand why it is important to study
marketing
Bringing Buyers and Sellers
Together
CONSUMER
PRODUCER
MARKETING
A Definition of Marketing
“Marketing is the process of influencing
voluntary exchange transactions in which
one party to the transaction can be
envisioned as a customer of the other, the
marketer. The marketing process involves
communication and requires a mechanism
or system to carry out the exchange of
the marketer’s product for something of
value.”
Exchange
mechanism
Marketing 5
Aspects
Two or
more
parties
Each gives
Communication
something
up
Each receives
something
Relationship Marketing
What is a Market?
Resources
Potential
Customers
Willingness
Ability
The Marketing Mix:
An Overview
Product
Promotion
Place
Price
Product
 Tangible goods
 Service
 Intangible idea
 Total Product Concept
Place
How do goods get to the customer?
How quickly do they get there?
In what condition will they arrive?
Promotion
Advertising:
Direct or Mass Media
Personal Selling
Publicity
Sales Promotion
Promotion
Inform
Remind
Persuade
Price
Marketing Mix: A Creative
Activity
Product
Promotion
Consumer
Price
Place
The Marketing Environment
The
Consumer
The Uncontrollable External
Environment






Economic and competitive forces
Natural resources and physical factors
Science and technology
Political and legal forces
Demographic forces
Sociocultural forces
Business Philosophies
Market Orientation
Sales Orientation
Production Orientation
The Marketing Concept
1st Consumer orientation
2nd Stress long-run success
3rd Adopt a cross-functional perspective
Marketing and Society
Macromarketing
“the delivery of a
standard of living to
society.”
Marketing and Society
Micromarketing
“having the right goods or
services at the right time
and the right place in the
right assortment.”
Why Study Marketing?
 Career opportunities
 Emerging cross-functional nature of business
 Entrepreneurial opportunities
 More informed citizen and consumer
 Part of being an educated person
For more information:
www.zikmund.swcollege.com
Summary
The function of marketing is to bring buyers and
sellers together. The primary emphasis of
marketing is an exchange process that involves
two or more parties trading things of value.
Review
Define & discuss marketing in its broadened
sense
ID elements of the marketing mix
Examine external environmental forces
Introduce the marketing concept
Recognize marketing's societal & economic
contribution
The social marketing concept
Understand why it is important to study
marketing