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Transcript
1-1
Chapter 1
The Field of
Marketing
1-2
McGraw-Hill/Irwin
Copyright © 2004 by The McGraw-Hill Companies, Inc. All rights reserved.
Chapter Goals
•
•
•
•
•
•
•
Centrality of exchange in marketing
Definition of marketing
Evolution of marketing in the U.S.
Marketing concept
Ethics in marketing
Company’s marketing program
Ways marketing affects our lives
1-3
McGraw-Hill/Irwin
Copyright © 2004 by The McGraw-Hill Companies, Inc. All rights reserved.
Marketing Defined
System of business activities designed to
Plan
Price
Promote
Distribute
Want-satisfying products to target markets
to achieve
organizational objectives
1-4
Stages of the Evolution
of Marketing
Product-Orientation
Stage
Sales-Orientation
Stage
Market-Orientation
Stage
1-5
Increase Supply
Produce Efficiently
Promote through
Sales and Advertising
Long-Run
Customer Satisfaction
How Should
a Business Be Defined?
1-6
Marketing Concept
1-7
Customer Orientation
Relationships
Customer Relationship Management
(CRM)
Mass Customization
Produce products with variety and
uniqueness
1-8
Coordinated Marketing Activities
Quality
Total Quality Management
Value Creation
Benefits vs. Costs
1-9
Organization’s Performance
Objectives
Performance Metrics
Return on the marketing investment
Societal Marketing Concept
Fulfill firm’s social responsibility
1-10
A Market
People
or
Organizations
Needs
to
Satisfy
Market
Money
to
Spend
1-11
Willingness
to
Spend
Market Segments
Segments are subgroups
of the market with similarities
Buying
Preferences
Wants
Product
Use
1-12
Target market
A market segment at which the firm
directs its marketing program
Market
Segment
A
Market
Segment
B
TARGET
MARKET
1-13
Market
Segment
C
Position
Strategies and tactics establish a unique position
in the prospect’s mind so the product is
viewed in a distinctive and attractive way
PRODUCT
PRICE
TARGET
MARKET
DISTRIBUTION
1-14
PROMOTION
Ethics and Marketing
ETHICS
Standards
accepted by a
society
TRUST
Builds
Business
Relationships
1-15
CONFLICTS
Challenges from
conflicting goals
CODE
OF
ETHICS
Importance of Marketing
Globally
Domestically
Organizationally
Personally
1-16
Key Terms and Concepts

Exchange

Value creation

Marketing

Return on marketing investment

Product-orientation

Societal marketing concept

Sales-orientation

Market

Market-orientation

Market segment

Marketing concept

Target Market

Quality

Position

Total Quality Management
(TQM)

Forecast demand


Marketing mix
Relationship marketing


Ethics
Mass customization


Utility
Value
1-17
McGraw-Hill/Irwin
Copyright © 2004 by The McGraw-Hill Companies, Inc. All rights reserved.