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Marketing Management
Chapter 12 - 1
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Copyright © 2005 by South-Western, a division of Thomson Learning, Inc. All rights reserved.
If you remember only one thing, remember this
Marketing is about the customer.
Delight the customer!
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Copyright © 2005 by South-Western, a division of Thomson Learning, Inc. All rights reserved.
What is Marketing?
● Marketing—process of planning and
executing the conception, pricing, promotion,
and distribution of ideas, goods, services,
organizations, and events to create and
maintain relationships that satisfy individual
and organizational objectives.
● What an UGLY definition.
● Marketing is a way of thinking.
– What is a person really buying when they
buy a drill bit?
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The Marketing Mix – Know It!
●Product
●Price
●Promotion
●Distribution
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Evolution of the Marketing Concept
● Over time, marketing activities evolved
● Four Eras in the History of Marketing
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Copyright © 2005 by South-Western, a division of Thomson Learning, Inc. All rights reserved.
Delivering Added Value through
Customer Satisfaction and Quality
– Value-added — occurs when a company
exceeds value expectations by adding
features, lowering its price, enhancing
customer service, or making other
improvements to increase customer
satisfaction
– Customer Satisfaction—result of a good or
service meeting or exceeding the buyer’s
needs and expectations.
– Quality — does the product meet or exceed
customer expectations
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Expanding Marketing’s Traditional
Boundaries
● Nontraditional Marketing
– Person Marketing
– Place Marketing
– Cause Marketing
– Event Marketing
– Organization Marketing
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Developing a Marketing Strategy
1. Select a Target Market
– Target Market—group of people toward
whom an organization markets its goods,
services, or ideas with a strategy
designed to satisfy their specific needs
and preferences.
– For example:
 Consumer Products
 Business Products
 Teens
 Women
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Developing a Marketing Strategy
2. Develop a Marketing Mix
– Blend the elements of marketing
 Product strategy
 Pricing strategy
 Promotional strategy
 Distribution strategy
– To satisfy target market and customer
segments.
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Copyright © 2005 by South-Western, a division of Thomson Learning, Inc. All rights reserved.