Download Nature of Marketing

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Nature of Marketing
Marketing
LAP 4
Objectives
Explain the nature of marketing.
Explain the nature of the marketing concept.
Explain how marketing affects our society.
Objective
Explain the nature of marketing.
Marketing is all
around you.
You’ve been involved in
marketing.
The Role of Marketing
Matches producers with customers who
want their products
Marketing/ mahr-ki-ting/ n. The activity, set of
institutions, and processes for creating, communicating,
delivering, and exchanging offerings that have value for
customers, clients, partners, and society at large.
Marketing Activities
Planning How to Carry Out the
Marketing Process
• Plans guide marketers’ activities.
• Planning and coordination of
marketing activities is essential.
Marketing Activities
Finding Out About
Customers
Who are they?
What do they need?
Marketing Activities
• Offering the Products Customers Want
 Marketers:
 Share customer info with the company
 “Test drive” new products
 People in operations: Create products
 People in finance: Determine financial feasibility
Marketing Activities
What price would satisfy
buyers and sellers?
Determining How Much to
Charge for the Products
Marketing Activities
Communicating With Customers
Marketing Activities
Putting Products Where They Need to Be
Websites
Retail stores
Catalogs
Where are customers likely to purchase products?
Where
Does
Marketing
Occur?
• In everyday places
• Wherever customers are present
• In all kinds of businesses
Who Takes Part in Marketing?
Everyday people
Almost everyone,
including you
What Can Be Marketed?
Services
Goods (Durable and
Nondurable)
Organizations
What Can Be Marketed?
Events
Ideas
Places
People
Objective
Explain the nature of
the marketing concept.
marketing concept/ mahr-ki-ting kon-sept/ n. A philosophy of
conducting business that is based on the belief that all business
activities should be aimed toward satisfying customer wants and
needs while achieving company goals
Three Elements
of the Marketing Concept
• Customer Orientation
 Do it the customer’s way.
• Company Commitment
 Do it better.
• Company Goals
 Do it with success in mind.
Objective
Explain how marketing affects
our society.
Marketing’s Impact on Society
Makes the
world go round
Influences your
decisions every day
Marketing’s Benefits
Makes our lives better
New and improved products at lower prices
Marketing’s Benefits
Provides us with a variety of goods and services
Many styles, models, colors, and sizes
Marketing’s Benefits
Encourages trade between nations
What If Marketing Didn’t Exist?
• It would be difficult for producers to:
 Connect with customers
 Improve existing products
 Develop new products
• Your own life would be difficult and different.
Producer
Customer
• What local event did
you attend?
• What part did
marketing play?
• Was the marketing
effective?
• What should be
changed?
• Young women promoted
a new product.
• The target market was
young men.
• Was it the right choice?
Why?
MBAResearch
Acknowledgments
Original Developers
Christopher C. Burke,
April J. Miller, MBAResearch
Version 2.0
Copyright © 2011
MBA Research and Curriculum Center®
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